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Solar leads India’s electricity generation transition: IEEFA
New Delhi, May 8 (IANS) India installed a record 10 gigawatts (GW) of solar electricity capacity in 2017-2018, twice the rate logged in the previous year and nearly double the country’s entire solar base, the US-based Institute for Energy Economics and Financial Analysis said.
The gains put India at 22 GW of total cumulative capacity and the trend is continuing.
A number of announcements in this April show momentum building. Solar technology continues to advance, with floating solar, hybrid wind-solar-battery and blended solar-thermal tariff developments now underway, an IEEFA analysis said.
Cost deflation is likely to remain a medium-term trend as economies of scale are achieved, spurred in part by India’s development of the world’ largest solar project, the 2.2-GW Bhadla project in Rajasthan that is set to come online in 2019, said the assessment compiled by IEEFA’s Director of Energy Finance Studies, Australasia, Tim Buckley and Research Associate Kashish Shah.
According to it, the 10 GW of solar installed in 2017-18 represents most of the 12.1 GW of new renewable capacity commissioned over the past 12 months. Renewables now account for 20 per cent of total installed capacity in India and 7.7 per cent of electricity generation.
While the surge in new renewable generation has increased concerns about grid constraints, the right level of ongoing investment will make those issues manageable even as renewable energy installs double to more than 20 GW annually by 2020, the IEEFA said.
The faster that India invests in renewables infrastructure the faster it can decarbonize its economy, but without the proper alignment of investment and domestic employment, the government will face political resistance to the upfront $300 billion investment required over the coming decade, it added.
Tying new solar tenders to domestic manufacturing investment aligns both strategies, with the likely outcome that the world’s leading solar module manufacturers will set up operations in India, bringing employment opportunities and, more important, world-leading solar technology at scale, the analysis said.
Indeed, in April, Japan’s SoftBank and China’s GCL System Integration Technology Co. announced a $930m 60-40 joint venture to build a major solar module manufacturing plant, with two phases each of 2 GW of annual production capacity, it said, adding that SoftBank brings the capital and GCL brings the world’s latest solar technology and management expertise.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.