Hariprasad Hegde

Interesting initiatives around hydrogen are taking place worldwide. Although, 1/3 of the investments of big Oil and gas companies/refineries goes to biofuels...and only 1/10 to hydrogen plans.

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The grim scenario of IT services in India: While this data corresponds to a lacklustre prospect in IT services sector in India but an underlying fact behind this grim growth of the sector is tepid/stagnant growth in India's traditional services export market. The global growth is mired by receding globalisation, increasing protectionism, ongoing conflicts and wars, strategic competition between west and the east and hyper nationalism. However, the sliver of hope in these dark clouds is the high GDP growth recorded in India. India is poised to touch and maintain an 8% GDP growth for the coming years and this would mean domestic job creation to cater to domestic demand. #unemployement #gdp

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Are we at the cusp of a transformative stage in the energy transition journey? The holy grail of large scale energy storage appears to be around the corner. This could fundamentally change the energy ecosystem displacing fossil fuels in large quantities. Interesting times ahead.

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Look forward to sharing my insights and experiences at #Prabhav2024 on how we can drive meaningful social and environmental change in India through equity impact investing, #blendedfinance, financial inclusion, #climatefinance and more. Join me to explore how we can harness the power of #impactinvesting to create a brighter future for all. See you there! #LetsChangeEnergy

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Looking forward to speaking at the Impact Investing in India webinar today!

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Gujarat loves throwing spanners in the already regulated (..read complex) direct sale of renewable power to customers. The recently announced C&I RE policy was a welcome change and considered too good to be true in almost all regulatory provisions. The New Policy removed perils of the last solar-wind hybrid policy (expired in June -2023) such as - No restriction on Contract Demand, following 26%/51% captive norms as per Electricity Act/Rules, implementation of Green Open Access provisions etc. But .. the banking provisions were grey and left unclear. GERC recently published the Green Open Access Regulations, 2024 where banking regulations are up for multiple interpretations leaving customers confused. Some of the issues are: 1. The permitted quantum of banked energy by the green energy open access consumers shall be at least 30% of the total consumption of electricity from the distribution licensee by the consumers during the billing period. "What does total consumption mean? It is not defined (Only Discom, Discom+OA?) What if the OA consumption is less than 30% of the total purchase, would the entire OA consumption be considered disputed? or the banked energy after the real-time settlement is considered lapsed? or banking is not allowed at all? 2. The banking of energy shall be evaluated for energy accounting on 15 minutes time block basis. 3. The Banking charge is Rs. 1.50 per unit up to 30th September 2024. From 1st October 2024 and onwards as decided by the Commission. -- Already very high and whether the Banking charge be levied on the entire OA consumption (As mentioned in the last Solar Policy and several other orders considering entire RE generation as intermittent) 4. Banking is optional - with so much confusion, looks like GJ DISCOMs want this to be the HIT button A significant capacity was under construction after the expiry of the last policy (at least 2.0 GW) which will be governed under these new OA regulations Hoping that the clarity will emerge soon! (Views are personal)

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45% RE capacity, 22% power generation. Why the difference? India's total RE capacity just crossed 200 GW...out of a total of about 450 GW of all power capacity. This comes to about 45% of RE capacity. (includes all hydro power) But this is not the entire story. If you consider the contribution of electricity produced from renewable energy sources, it is only about 22% of total. 45% of capacity, but only 22% of generation - just half. Where's the catch? The simple reason is that most renewable energy power plants have capacity factors (the extent to which a MW of capacity is utilized to generate maximum possible power) much lower than that for conventional sources such as coal power plants or nuclear. Solar & wind operate at CUFs about 20%; hydro at about 40-45%, bio-energy could be about 50% (as some plants are not operational), but its contribution is quite small. Conventional power plants operate at much higher CUFs. Most coal power plants operate at about 60% (came down significantly in the last few years, they can operate at much higher CUFs). Nuclear operates at over 80% CUF. So, we are talking about renewable power CUFs in the 20-45% range mostly, and those for coal power plants in the 60% range. The 45% vs 22% makes more sense to you now? This also implies that, even at the ambitious target of 500 GW of RE, it will be the equivalent of about 250 GW of conventional - quite massive even at this number, no doubt! .

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Very glad to see this! We have travelled down the path of Swadeshi and import substitution with disastrous results. Re-inventing wheel never makes sense. The main genius behind the telecom revolution was to adopt cheap and easily available technology to provide the service to masses, rather than develop our own that Sam Pitroda championed and wasted $10 billions on. The name of the game is to innovate and build on available technology. Encourage manufacturing in India to employ masses. Assert comparative advantage where we have it, as we have shown in IT services. We should have a huge comparative advantage in agricultural sector. Turn loose our entrepreneurs to take the world on in all emerging fields. They are already starting to prove their mettle in spacetech. The goal of Atmanirbhar should be limited to defense and armament industry. Everywhere else we ought to go for most economic way of providing goods and services for the masses.

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As someone who is privileged to be closely involved in the journey of several startups including Mygate, the ability to write such a blog, let alone publish it to the public shows an extraordinary longterm thinking and maturity for founders. First of all, kudos to the team on stellar execution and is the input to this blog. Secondly kudos on the courage to publish such information, for a second time now. Last but not least, I encourage all founders to write such a blog and a similar plan for the year ahead. Publishing this can be at your own discretion - private, management team, board, investors, public. Use your best judgement but write you must! It’s a great discipline to have - ideally once a quarter! Yes the first two times will be difficult, but it will soon become a “liberating” habit.

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Impact Investors Council (IIC), recently released its report on 'India Impact Investment Trends 2023' at our India Room event in Singapore. In this short video, Divya Pinge, Head of Research and Varun Reddy, Asst Manager - Research & Programs, at Impact Investors Council (IIC), take you through a synopsis of the report. For your soft copy of the report, please write to us at : [email protected]

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Conceptualizing Solar Parks: Business Models and Opportunities As the world shifts towards carbon neutrality, solar parks play a crucial role in advancing renewable energy. These dedicated zones streamline large-scale projects, cutting costs and risks for developers while maximizing land and infrastructure use. Backed by government support, public-private partnerships, and innovative models, solar parks pave the way for swift clean energy adoption. India's robust solar park initiatives, led by the Ministry of New and Renewable Energy, underscore the nation's commitment to sustainable energy solutions. Understanding diverse business models and engaging key stakeholders are key to unlocking solar parks' full potential in meeting global energy needs sustainably. Collaboration, innovative financing, and solid policy frameworks are pivotal for a greener future. Let's join forces in driving the solar revolution to establish renewable energy as the cornerstone of our power systems. Read more: [Link to the article] #SolarParks #CleanEnergy #RenewableEnergy #CarbonNeutrality #SustainableDevelopment #GreenEnergy #SolarPower #EnergyTransition #ClimateAction #SolarRevolution #IndiaEnergy

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With the rapidly evolving business landscape, SME's today need to accelerate their journey towards #sustainability. Realizing the potential opportunity that exists, Monu, Ashish & Abhishek conceived the idea for a unique #fund that marries long-term sustainability with better financial outcomes. Their subsequent investments in companies across sustainable #agri, #responsible #consumption and #supplychain solutions - United Aryan (EPZ) Ltd, Hela Apparel Holdings, InI Farms, Midland Bank PLC., Jumps Auto Industries Ltd & PRIVAMNUTS EPZ (KENYA) LIMITED, are all testament to this commitment. The ESG first fund underscores Aavishkaar Capital's belief that #Purpose & #Profitability are 2 sides of the same coin. To know more about the fund's journey, click here: https://bit.ly/gir2023 #AavishkaarImpact #ESG

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If you want to get insights into PM Surya Mufti Bijli Yojana, please join this webinar being organised by India Energy Forum Listen to stalwarts such as Alok Kumar, Rakesh Nath R. V. Shahi

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~ As India Inc marches ahead with unprecedented momentum and renewed vigour after the successfully concluded national elections, Steel industry is expected to play a pivotal role.. It’s very humbling to hear our customers talk about how #bizongo is leading with Technology to reduce raw material sourcing cost, secure the best credit options from 30+ financial institutions, and provide real-time visibility & predictability of order delivery through an intuitive mobile App.. A lot of this is unprecedented in the Steel industry.. https://lnkd.in/gbNt4Tzj

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Reliance Industries Ltd (RIL) is poised to revolutionize the renewable energy sector with strategic global partnerships, as outlined in their fiscal 2024 annual report. With a focus on expanding solar module manufacturing and advancing energy storage systems, RIL aims to enable 100 GW of renewable energy by 2030. By leveraging internal capabilities and partnering with global technology leaders, RIL plans to establish itself as a key player in green energy. Additionally, the company is exploring sodium batteries as a cost-effective and sustainable alternative to traditional lithium batteries, showcasing its commitment to innovation. Venturing into green hydrogen initiatives, RIL aims to support India's clean energy goals by manufacturing electrolyzers and producing green hydrogen. With a vision for disruptive growth, Chairman Mukesh Ambani is confident in RIL’s transformative impact on the global renewable energy landscape. Through strategic global partnerships and a focus on sustainable growth, Reliance Industries Ltd is cementing its position as a leader in renewable energy, driving innovation and sustainability in the industry.

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 In my inaugural address today in the webinar on “Implementation of PM-Surya Ghar: Muft Bijli Yojana in Residential Sector” organised by India Energy Forum, I made the following key points:- 1.   The new scheme of Government of India for subsidy ( up to 60%) supported rooftop solar in ten million households is a path breaking initiative as it moves away from tariff subsidy approach to capital subsidy approach, focusses on promoting local manufacturing of solar cells ( after successful expansion of module manufacturing capacity), targets better the  subsidy  by excluding C&I consumers, and adopts a Mission approach for implementation. 2.   India should set even larger targets- China has 254 GW rooftop capacity , and Taiwan has 63% of solar capacity from RTS while India has just 15%. 3.   Scheme would have differing pace of implementation as the states take in to account the other less costlier options to fulfil RPO – hydro rich states, low variable costs from pit head coal based stations, their RE integration costs. Such states may have to give additional subsidy if they want to promote RTS for the advantages of local job creation. 4.   As most of the smaller households in India enjoy either free power or highly cross subsidised tariffs, gross metering arrangement is likely to be preferred by them to retain both benefits- low cost grid power and income from sale of RTS generation to utility ( partly to be used to repay the loan taken) . 5.   State Electricity Regulatory Commissions will have a critical role in the success of scheme – (a) An adequately attractive price for sale of surplus power to utility (b) long term visibility to such rates for 15 years by grandfathering arrangement whenever this rate is changes for new RTS investments(c) providing monthly credit to consumers for such sale, including to pre-paid consumers(d) smart TOD tariff design which balances the DSM aspect and the need to incentivise RTS installations as the surplus power will be injected in (off-peak) solar hours. 6.   Discoms will need to develop capabilities for utilising smart metering data for optimising power procurement in high decentralised RE scenario, and also the network expansion (or BESS) investments in high RTS pockets. 7.   Ministry of Power must make a Rule clarifying that in RESCO arrangement , sale of power to rooftop owner is not an open access sale and  is not liable to pay cross-subsidy surcharge or other such charges. One important suggestion came during the discussions-- to go for bulk public procurement for domestically manufactured modules/cells – on the lines of LED programme- to reduce costs and to accelerate local manufacturing capacity of solar cells.   

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Our goal at Runaya, is to redefine perspectives and recalibrate mindsets in the resource landscape by creating a growth proposition that is not only profitable but also sustainable. Our innovation-driven clean metal recovery from mining and industrial wastes is paving the way towards a truly carbon-neutral and zero-waste future where 'waste-to-wealth' and 'cradle-to-cradle' become the standards for the entire resource landscape to emulate and follow. At Runaya, we view metal recovery as both- a product and a service, all with the single, sharp goal of ensuring that the maximum waste is prevented from reaching landfills and harming the environment. For the coming FY, our target is to treat around 100, 000 metric tonnes of waste, of which at least 85% would have otherwise gone to landfills. We would also create at least $120 million worth of metal and put it back into circulation. Thus, we are not only protecting Mother Nature but also adding value, creating a truly circular loop that truly benefits everyone. It was indeed a pleasure to talk about this with Sumana Sarkar of Financial Express (India). Besides the thought-provoking conversations, what made this truly special was having that platform to truly bring into the limelight what we are doing as well as our plans for the future. #Sustainability #BuildFuturePositive #Resources #CarbonNeutral #Innovation #Runaya

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