GLG News by Mr. Himadri Banerji, Chairman and Managing Director
GLG News is now G+ Insights
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G+ is a community for professionals, academics and entrepreneurs to connect through online discussions and in-person meetings. You will continue to see G+ Insights (formerly GLG News) here as well as on the G+ website, where you can share and discuss the G+ Insights you read.
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Low Natural Gas Prices In Abyss Predicted Till 2010
August 31, 2009
Will bearish gas market come back this year? | www.ogfj.com
In its August short-term energy outlook, the EIA projected a full-year average price of $3.92/MMBtu – a full 30 cents less than its previous forecast.However, as the economy bounces back and the supply-and-demand dynamic starts to balance, the EIA expects the Henry Hub price to rise to an average of $5.48/Mcf next year.The EIA said it expects storage inventories to set a record by the end of the injection season, reaching 3.8 tcf by the end of October, topping the record set in 2007 by 235 bcf.
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Even Solar PV Firms Like Suntech Passing Through Tough Times in 2009
August 26, 2009
Suntech selling solar panels in US 'below production cost' | www.rechargenews.com
Decrease in shipments and “a rapid decrease” in the price of PV products, increasing inventory, has led Chinese solar giant Suntech Power in selling solar photovoltaic (PV) panels in the US below its costs for materials, assembly and shipping, according to the company’s founder and chief executive, Shi Zhengrong. The company plans to freeze capacity expansion during 2009 until the credit market improves. The majority of its capital expenditures will be spent retrofitting existing facilities.
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Will BioSolar BioBackSheet Trip Dupont's Tedlar As PV Turns Around.
August 25, 2009
DuPont to Invest $120 Million to Increase Capacity for Tedlar(R) Photovoltaic Module Materials | www.yourpetrochemicalnews.com
Dupont expects that the rapid growth of the global solar market will increase the demand for Tedlar used as back sheet for solar panels, and other new materials that increase the efficiency of solar cells and modules. The company anticipates over $1 billion in overall sales of its solar products by 2012. Thus company has announced that it will invest US $120 million for a multi-phase production expansion of its Tedlar polyvinyl fluoride product line, increasing production capacity by 50%.
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Reservoir Capital's Gateway to Bosnia-Herzegovina From Lim, Drina to Neretvain?
August 25, 2009
Reservoir Opens Subsidiary to Evaluate Hydro-Power Opportunities in Bosnia | www.yourindustrynews.com
Reservoir Capital Corp. a Southeast Europe focused run-of-river hydroelectric developer working in Serbia and Bosnia has opened a branch office for its wholly-owned subsidiary in Bosnia and Herzegovina. The Company, ardently exploring new hydro projects, is currently conducting pre-feasibility studies on two hydroelectric projects totaling 48MW on the River Lim in southwest Serbia a welcome development as Bosnia seeks foreign investment to build power generation and transmission facilities.
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China Long Marches Towards 100 Gigs of Wind Power:Three Gorges Revisited?
August 25, 2009
China’s Huge Wind Initiative | www.windenergynews.com
It is reported that China, the world's second-largest energy user, has said it would bring its total wind power capacity to 100 GW by 2020 from the current 12 GW, part of a broad energy target to generate 3 percent of total electricity from non-hydro renewable energy. To that end, the National Energy Administration (NEA) has planned six 10GW-level wind power bases in areas rich in wind resources such as Inner Mongolia, Gansu, Xinjiang, Hebei and Jiangsu.
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Quiet Burial for Climate Change: Vestas Closes Isle of Wight Plant in Britain.
August 14, 2009
Even the Isle of Wight wants Miliband to buck the market | www.guardian.co.uk
It is reported in the Guardian UK that Vestas has finally closed down the wind turbine manufacturing plant in the Isle of Wight in UK after the UK government refused to take steps for revival or sustainence through bailout or nationalization. The plant was designed to produce wind turbines for the burgeoning US market, and considering that manufacturing facilities have already been established in US and the UK plant was imposing huge cost burden on operations closure was only options left.
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EU Must Insist On Making Renewable in Portfolio while Swapping.
August 3, 2009
E.ON and GDF SUEZ Finalise Their Swap of Generation Capacity in Europe | www.oilvoice.com
It is reported that E.On and GDF, both European utilities have swapped generation capacities in Belgium and Germany, respecting commitment to the European Commission to bring down the generating assets in their respective countries with the objective of increasing competition in the integrated markets. While GDF SUEZ is surely to be commended for lowering its carbon footprint, in the deal, while E.On on the other hand face tough questions to answer to the environmentalists.
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Bad Tidings for Wind Power Companies:Suzlon Sees Red Post Blade Breakage
August 3, 2009
Suzlon Declines After Reporting First-Quarter Loss. | www.bloomberg.com
Suzlon Energy has reported a net loss of Rs 462 crore (ninety five dollars) on a consolidated basis (with RE Power's) for the first quarter ended June 30, compared with a Rs 52-crore profit in the corresponding period last year. Suzlon lost sales last year after blades cracked and customers in the U.S. canceled orders. Replacements will be completed in mid-August, two months behind schedule. Volume sales during the quarter were lower, and order are unlikely to improve next quarter.
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Dear President 3 to 6 % RES by 2012 Is Simply Not Our Pioneer Gold Rush
July 26, 2009
RENEWABLE ELECTRICITY STANDARD WON’T CREATE JOBS UNLESS STRENGTHENED | www.awea.org
United States, in comparison to China, India and even South Korea seems to have considerable catching up to do in planning, designing the RES, implementing a much stronger renewable energy program, which would besides meeting the quadrant objectives of capping carbon emissions and pricing carbon; implementing a renewable energy standard and a smart grid; setting energy efficiency standards; funding focused research and development.
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The Final Frontiers:India's Nuclear Renaissance
July 25, 2009
Muddy policy hurdle faces India-U.S. nuclear deal | www.xe.com
As per a Reuters article published in xe.com, Westinghouse, subsidiary of Toshiba Corp., and GE who have a strategic partnership with Hitachi to jointly execute nuclear energy projects worldwide, would need a nod from Tokyo for their reactor business in India. The deal, which could unlock an estimated $27 billion nuclear market in India over the next 15 years, faces hurdles and issues like accident liability protection for U.S. firms.
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Future of Nuclear Power Tariffs:Price Uncertainty of New Generation Reactors
July 24, 2009
Turnkey Nuclear Power Plant EPC Agreements: The Case for Price Certainty | pepei.pennnet.com
As per the author of an article appearing in the Power Engineering International, the new generation nuclear reactors for power plants which are currently under development will hit the markets surely with price uncertainty, considering the changes which may have to be brought in under supervision of the nuclear regulatory commissions as designs get finalized.
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India's March to 20 Gigawatts of Nuke Power
July 24, 2009
Westinghouse to Begin Talks with NPCIL to Deploy AP1000™ Nuclear Power Plants in India | westinghousenuclear.mediaroom.com
Now that the transfer of technology for nuclear power p[lants and state of the art nuclear fuel processing systems have been cleared by the nuclear services group subsequent to Idia signing of the agreements, US companies like Hitachi owned Westinghouse Electric Company has now taken steps to move into India. A recent announcement to this effect has been made.
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India's Nuclear Winter Recedes Into History:6,000-MW of Nuclear Power in 2009?
July 24, 2009
US, India agree on nuclear and defense deals | www.csmonitor.com
The Indian government announced it was designating two nuclear power-plant sites for exclusive development by US companies and agreed to honor so-called "end-use monitoring" arrangements for high-technology military sales, which allow the US to sell military equipment in sensitive markets while ensuring that the equipment is used only for designated defensive tasks. With this India’s isolation from the nuclear world will come to an end
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It is India Story All The Way 2009: Post Stimulus, Indian LNG Demand Equals China’s
June 10, 2009
Qatargas primes train 5 taps | www.upstreamonline.com
That the current growth momentum in the Indian economy is fuelled by infrastructure spending stimulus plan is corroborated by the fact that the LNG demand from India for the first time ever is going to equal to China’s as per a report published in the June 2009 issue of Upstream magazine. The report was quoting Qatargas's marketing director of its Commercial and Shipping Group, Alaa Abujbara, who while talking to reporters on the sidelines of the Asia Oil and Gas Conference, said that China will be the next biggest buyer of LNG after Japan, and India is on the same scale as China.
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Improving quality of Deforestation Based Carbon Credits:Agenda for Copenhagen?
June 8, 2009
Hostage to fortune | www.economist.com
Money is being spent on credits of dubious ecological value, though there is a growing understanding among offset buyers of the potential of forestry activities to generate high-quality, cost-effective emissions reductions while at the same time providing additional advantages like conserving species and supporting local communities.
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Rising Oil Prices Lead to Higher Spending by Oil Companies and Trigger Economic Growth?
June 8, 2009
Oil Trades Near 7-Month High After Rising on Goldman Forecast | www.bloomberg.com
Crude oil prices may reach $85 a barrel by the end of the year as demand recovers and supplies shrink. This is as per a report appearing in Bloomberg on the 5th June, quoting research reports presented by analysts of Goldman Sachs. Crude’s rally is being driven by a weaker dollar and optimism for an economic recovery, the research report said. Yet the recent strengthening of the dollar because of stabilizing economy, and tumbling demand may make crude oil prices fall from its seven month high. Oil companies’ spending this year dropped almost $100 billion, or 21 percent, according to a report last month from the International Energy Agency. The high prices would assist in increasing spending on projects by Oil companies. Reduced spending on energy threatens to slow the economy, trigger a surge in prices and hurt future prosperity.
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Thin Film Amorphous Silicon Players Face Tough Times Ahead
June 8, 2009
Amorphous Silicon: Losing the Shakeout? | www.greentechmedia.com
Is reported in an article published on 1st June by the Greentech Media that, arising out of the excess installed capacity with manufacturers vis demand for solar cells, and the rapidly falling prices of silicon in the world market, amorphous silicon thin film players aren't only competing with crystalline silicon panel makers, they also must beat those making other thin-film panels but are using different semiconductor materials, which are key ingredients for converting sunlight into electricity. The same problem faced by amorphous silicon solar players also could plague other thin-film technology developers, such as those making panels with copper, indium, gallium and selenium (CIGS). CIGS do not seem to have the right cost structure. Companies that are using mirrors to concentrate the sunlight onto slivers of solar cells – an approach that also sounded promising during the polysilicon shortage – faces the same challenge.
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India Mulls Ultramega Plans for Solar Power
June 8, 2009
Could India Become a Solar Leader? | greeninc.blogs.nytimes.com
In an article published in the 6th June issue of New York Times, authored by James Canter, it is reported that India is working towards becoming a global leader and a hub of solar power, something the developed nations like Germany, Spain and US were recognized for. This is arising out of a draft report called the National Solar Mission which the Government of India is working on. As per the report India plans to add 20000 MW of Solar Power Generation Capacity by 2020. Further the plan envisages 100000 MW by 2030 and 200000 MW by the middle of this century. Recognizing that at present the costs for solar panels are still abnormally high, the plan sets out to accelerate indigenous production through various measures and hopes that with the huge volume of demand in India and China, there would be a industry effort to reduce the cost of production and the solar power costs could come down to a widely affordable Rs 4-Rs 5 per kwhr which is 7-8 cents, the average US power tariff.
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A 10 Billion Green Fund: On Agenda for Copenhagen
June 4, 2009
$10 billion climate fund gains support | en.cop15.dk
The size of a country's contribution could be based on any number of factors, such as income per capita, gross domestic product, total carbon emissions, or emissions per capita, Countries can draw money from the fund to cover the costs of environmental programs or to improve energy efficiency. Countries that are not environmentally conscious will not get money back from their quota. Developed countries should perhaps only be allowed to withdraw less than their quota, while developing countries should be able to withdraw more. Poorer countries would receive more than they put in and there would be a cap on what a single nation would get. The fund would be supervised by member-states of the United Nations Framework Convention on Climate Change, avoiding bodies like the World Bank, which developing countries say doesn’t favor them.
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Solar PV Bounce Back Back: Reality Towards Grid Parity?
June 3, 2009
Solar Forecast Sees Industry Bounce Back | www.renewableenergyworld.com
As per the article published in the Renewable Energy World, from the perspectives of semiconductor manufacturers, there are significant changes in their priorities for the solar PV sector. Apparently the Solar PV industry, rising from the scraps of leftover chips, now provides a burgeoning business opportunity much more in volume and earnings than the mature IC industry, for the IC and semiconductor manufacturers to sit up and look for newer avenues and business models for the industry, thanks to the resurgence in the solar power generation owing to the massive support from the Governments of US, China, Europe and India. Significantly, the companies involved in R&D will see a shift in their priorities from reducing silicon use in the panels, towards increasing efficiency and smarter design of panels. Solar Panel manufacturers will be driven by the dream of Grid Parity in reality without incentives and support much before the year 2013.
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