GLG News by Thermal Coal Experts

Himadri BanerjiChairman and Managing DirectorEcoUrja

Rising Oil Prices Lead to Higher Spending by Oil Companies and Trigger Economic Growth?

June 8, 2009

Analysis of: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.

Himadri BanerjiChairman and Managing DirectorEcoUrja

Thin Film Amorphous Silicon Players Face Tough Times Ahead

June 8, 2009

Analysis of: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.

Himadri BanerjiChairman and Managing DirectorEcoUrja

India Mulls Ultramega Plans for Solar Power

June 8, 2009

Analysis of: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.

Himadri BanerjiChairman and Managing DirectorEcoUrja

A 10 Billion Green Fund: On Agenda for Copenhagen

June 4, 2009

Analysis of:$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.

Himadri BanerjiChairman and Managing DirectorEcoUrja

Solar PV Bounce Back Back: Reality Towards Grid Parity?

June 3, 2009

Analysis of: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. 

Himadri BanerjiChairman and Managing DirectorEcoUrja

Priorities Right for Obama on Solar PV

June 3, 2009

Analysis of:Obama Announces US $467M in Stimulus Funding for Geothermal and Solar Energy Projects | www.renewableenergyworld.com

Solar energy will see a $117.6 million investment. Photovoltaic technology development will account for $51.5 million and another $40.5 million will be used for deployment. Projects in this area will focus on nontechnical barriers to solar energy deployment, including grid connection, market barriers to solar energy adoption in cities, and the shortage of trained solar energy installers. Finally, CSP technology research and development will get $25.6 million. This work will focus on improving the reliability of concentrating solar power technologies and enhancing the capabilities of DOE National Laboratories to provide test and evaluation support to the solar industry.

Himadri BanerjiChairman and Managing DirectorEcoUrja

Small Is Beautiful: Small Wind Makes Major Headway

June 2, 2009

Analysis of:US Market for Small Wind Turbines Grew 78% in 2008 | www.reuters.com

The U.S. market for small wind turbines--those with capacities of 100 kilowatts (kW) and less--grew 78% in 2008, according to the American Wind Energy Association (AWEA). With a total of 17.3 megawatts (MW) of new installed capacity, consumer demand for clean energy options is on the rise, the Association said. U.S. manufacturers sold about half of all small wind turbines installed worldwide last year. U.S. market share amounted to $77 million of the $156 million global total.

Himadri BanerjiChairman and Managing DirectorEcoUrja

A US Renaissance! Market Boom for Manufacturers of Wind Turbines and Accessories

June 2, 2009

Analysis of:U.S. Wind Power Industry Marks Strong First-Quarter Growth | www1.eere.energy.gov

US wind turbine market value increased from $1,482 million in 2003 to around $12,530 million by 2008. US is the world’s largest wind power market, contributing to 19% of the global cumulative wind capacity and more than 90% of the North American market. It is a highly government driven industry, the growth of the US wind market was fueled by production tax credits, subsidies and renewable portfolio standards in various states. Financial backing from the government has eased out the issue associated with high costs for wind power generation to a large extent, thereby driving wind growth. The report states that the growth momentum for the first quarter 2009 has been significant, though due to the economic crisis, there has been a lowering of installed and capacity under construction in 2009 compared to 2008. This therefor brings a booming market to the manufacturers of turbines and accessories.  

Himadri BanerjiChairman and Managing DirectorEcoUrja

Crazy are the Ways of Bubbles, Bulbs and Tulip: Renewable Energy Bubble Revisited

June 2, 2009

Analysis of:Could Energy Innovation Create A 'Green Bubble'? (Part 9) | www.geni.org

The GENI Initiative focuses on linking renewable energy resources around the world using international electricity transmission. In its May 1 web news Jeff Brady's article on the NPR (National Public Radio, is an internationally acclaimed producer and distributor of noncommercial news, talk, and entertainment programming), brings out a view point of Jansen the founder of ITulip and who has made a name for himself studying bubbles. Jansen observes that Congress is working on legislation that would limit greenhouse gas emissions and then turn them into a commodity that can be traded. Such a cap-and-trade system might be the seed for creating the credit necessary to get a renewable energy bubble going. "Some think the investment banks will get into the cap-and-trade business and figure out a way to use that market to create securities that can then be the foundation for an asset price inflation,"

Bradford MillsChief Executive OfficerMANDALAY RESOURCES CORPORATION

ETF demand for Pt and declining recycle rates rebalance the Pt markets in Q1 of 2009

May 19, 2009

Analysis of:Platinum auto demand drop signals global slowdown | money.cnn.com

ETF platinum demand has surged in the first quarter of 2009 as Pt prices reach temporary parity with gold. Platinum is attracting many financial buyers who see it as a far better store of value at the current Pt price than Au which is close to its all time high. Pt and Pd recycle rates have also dramatically declined in the post October 2008 world as margins of recyclers have collapse and reduced the incentive for scrap deals to process catalytic converters These two factors, plus shut-ins of primary production have largely offset demand destruction in the US and European auto industry. Currently supply/demand look balanced for both Pt and Pd. Any recovery in auto sales in the second half should be translated into higher prices.

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