France's Total buys 50% stake in Adani Green's 2GW solar portfolio for $500 million.

As part of its strategy to develop renewable energies, Total is expanding its partnership with Adani Group, India's largest privately-owned energy and infrastructure conglomerate, in order to contribute to the growth of solar power generation in the country.

The Indian government has a strong policy to support the renewable energy growth. India is a founding member for International Solar Alliance and is committed to increase its capacity from 81 gigawatts (GW) in 2019 to 225 GW by 2022.

Total and Adani Green Energy Limited (AGEL) will create a 50/50 joint venture into which AGEL will transfer its solar assets in operation. These projects are spread over 11 Indian states and have a cumulative capacity of over 2 GW. All the projects benefit from nearly 25-year power purchase agreements (PPA) with national and regional electricity distributors, with a fixed rate.

“Total is fully engaged in the energy transition and to supporting India, a key country in the fight against climate change, in diversifying its energy mix through partnerships in natural gas and now in solar energy," said Patrick Pouyanné, Chairman & CEO of Total. “This interest in over 2 GW of solar projects represents another big step of our investment in India's energy sector. It will support our ambition to contribute to the deployment of 25 GW of renewable capacities by 2025. We are thrilled to extend the partnership with the Adani Group to renewable energies, which will allow us to benefit from its in-depth knowledge of the Indian electricity market.”

“We are delighted to extend our long term partnership with TOTAL to our renewable energy business in AGEL. The investment reinforces the immense potential in India’s renewable energy sector, as well as Adani group commitment towards sustainable development. This is a pivotal step in our journey towards building the world’s largest solar power company by 2025 and the world’s largest renewable power company by 2030.” - Gautam Adani, Chairman, Adani Group.

This transaction has a value of approximately $500 million and is in line with the Group’s objective of double-digit returns on renewable projects. It remains subject to the approval of the relevant authorities.

Adani Green is one of the largest renewable companies in India, with a current project portfolio of 6 GW including under construction capacity. Additionally, AGEL participated, as successful bidder in SECI’s tender of manufacturing linked development project for a capacity of 8 GW and awaiting its award.

In October 2019, Total had announced that it was acquire 37.4% stake in Adani Gas for approx Rs 6000 crores.

Source - BSE.

TVS launches India's first Ethanol based Motorcycle - Apache RTR 200 Fi Ei100 at Rs 1.2 lakhs.

A #MakeInIndia products which runs on #MakeInIndia fuel.

TVS Motor Company, a reputed manufacturer of two-wheelers and three-wheelers in the world have created a benchmark in the industry by launching India’s first Ethanol based motorcycle – TVS Apache RTR 200 Fi E100. The motorcycle was launched by Shri. Nitin Jairam Gadkari, Hon’ble Minister for Road Transport and Highways of India & Micro, Small and Medium Enterprises, Shri. Amitabh Kant, CEO of NITI Aayog, and Shri. Venu Srinivasan, Chairman, TVS Motor Company.

TVS Motor Company first showcased the TVS Apache RTR 200 4V Ethanol concept in Auto Expo 2018 held in Delhi. TVS Apache is the flagship brand of TVS Motor Company with over 3.5 million happy customers across the globe.

Commenting on this launch, Shri. Venu Srinivasan, Chairman, TVS Motor Company, said, “We are delighted to launch the TVS Apache RTR 200 Fi E100 in the presence of Hon’ble Minister for Road Transport & Highways of India; & Micro, Small and Medium Enterprises Shri. Nitin Jairam Gadkari who has created a roadmap for the implementation of future mobility in the country.”

Shri. Srinivasan further added, “Today, the two-wheeler industry is looking at green and sustainable future mobility solutions spanning across electric, hybrid and alternate fuels. TVS Motor Company believes that Ethanol-based products are an important option for our customers. This is due to the easy compatibility in the transition to Ethanol and its sustained positive impact on the environment without compromising on performance and total cost of ownership. TVS Apache RTR 200 Fi E100 is a breakthrough in the two-wheeler space that will set the trend for a green future in India.”

Ethanol will be domestically produced by the farmers of this country. It is cost-effective, import free and environmentally sustainable fuel.

Ethanol is domestically produced from renewable plant sources. It is non-toxic, biodegradable, as well as safe to handle, store and transport. An oxygenated fuel that contains 35% oxygen, Ethanol reduces nitrogen oxide emissions from combustion. Apart from this, Ethanol also helps reduce carbon monoxide emissions, particulate matter, and sulphur-di-oxide. Use of Ethanol as a fuel will also reduce dependence on the import of petroleum and increase energy security.

The TVS Apache RTR 200 Fi E100 sports a vibrant interplay of green graphics seamlessly woven with the ‘Ethanol’ logo. It is equipped with a Twin-Spray-Twin-Port EFI technology. This ensures better drivability, faster throttle response and reduction in emission levels. It delivers better usable power under varied ambient conditions. This motorcycle boasts of impressive peak power of 21 PS @ 8500 rpm with a torque of 18.1 Nm @ 7000 rpm and has an ascending top speed of 129 kmph.

Promising consistent performance coupled with a sustainable green solution, the TVS Apache RTR 200 Fi E100 is a winner for both the rider and the environment. This special edition would be available in Maharashtra, Uttar Pradesh, and Karnataka at an attractive price of Rs. 1,20,000.

- Press Release.

Saab and Airport Authority of India sign MoU for improved air traffic management system for airports under UDAN scheme

Saab and the Airports Authority of India (AAI) have signed a Memorandum of Understanding (MoU) to research a pan-Indian Air Traffic Management Automation System for airports under the UDAN Regional Connectivity Scheme.

The MoU was signed by Vineet Gulati, Member (ANS) from AAI and Peter Engberg, Head of Traffic Management, Saab Business Area Industrial Products and Services.

Saab’s Digital Air Traffic Management Solutions has a robust portfolio ranging from Advanced-Surface Movement Guidance & Control System (A-SMGCS) and Surface Movement Radar (SR- 3), to Remote Towers which can be deployed at all types of airports. ATM solutions from Saab can support both single and multiple runway airfields, as well as remote operations and deployable systems.

The MoU with Saab will support AAI’s need for ATM solutions and training of its personnel in ATM services. The MoU highlights the efforts of AAI to build infrastructure for the Indian government’s UDAN-RCS regional airport development and regional connectivity plan, helping to make air travel more affordable and widespread.

Saab’s Head of Traffic Management, Peter Engberg says, “India has an ambitious target to develop and operate regular scheduled flights from over 100 airports. We look forward to working with AAI to enable the creation of a nationwide airport infrastructure using Saab’s robust portfolio of ATM services. Through this new agreement, we bring together the strengths of AAI and Saab. The implementation of safe, leading-edge and cost-efficient technologies will bring the benefits of ‘flying for all’ to Indian travellers all across the nation.”

Over the last 10 years, Saab has been addressing the need for robust, modern ATM and supplying crucial equipment to the Airports Authority of India. Saab is present today at 11 airports in India and Saab wants to partner with India to build a pan-India A-SMGCS network.

Saab ATM solutions are now deployed in Ahmedabad, Amritsar, Guwahati, Jaipur, Lucknow, Chennai, Kolkata, Mumbai, New Delhi, Cochin and Bhubaneshwar. All of these airports have Saab’s A-SMGCS software and a combination of other products such as SR-3 and our Multilateration (MLATS) solutions.

In addition, Saab is offering its Remote Tower technology to provide Air Traffic Management solutions in far-flung areas. The Remote Tower product suite includes high-definition and pan-tilt-zoom cameras, surveillance and meteorological sensors, microphones, signal lights and other devices for the safe and efficient management of airport operations.

Source - Press Release.

Cleaning India's bank mess - NPA of Rs 1,00,000 crore may find resolution.

With the debacle of the UPA regime, the people of India were expecting a cleaner, fair and sustainable banking systems. Four years passed, our bank's NPA issues are still haunting us. The Q4 results of all major banks reported a higher NPA growth. Fraudsters like Nirav Modi and Mehul Choksi have fled to Hong Kong duping Punjab National Bank, India's second-largest lender of approx Rs 11,000 crores. India's fight in the courts of Hong Kong, UK and other thug-friendly nations have regularly failed in the past. But, not all is gloomy and scary. The major chunks of NPA by companies operating in steel, cement and infrastructure sector are nearing resolution.

Just days before, Tata Group acquired a controlling stake of 72.65 percent in the debt-ridden Bhushan Steel Ltd for around Rs 36,000 crore will help in cleansing the banking system as well as boost lenders profitability. The consortium of state-run banks had the largest exposure to scam-ridden Bhushan Steel.

Of the total exposure to Bhushan Steel, the Punjab National Bank had set aside Rs 1,542 crore as provisions. “While the bank will recover Rs 3,050 crore of the outstanding amount, it will also be able to write off Rs 807.5 crore from the provision it had held for this NPA,” a PNB official said in an interview published by ET. Also, lenders, including PNB, will continue to own 12% in the acquired entity, giving it the opportunity to cash out later when the valuation of the company goes up, the banker added. The State of Bank is likely to get Rs 6,000 crore along with the shares of the entity. Bank of India reported that it would be able to recover Rs 1993 crore from the first successful NCLT recovery of 12 large NPAs.

Last year in June, RBI's internal advisory committee identified 12 accounts, each having more than Rs 5,000 crore of outstanding loans and accounting for 25 percent of total NPAs of banks. Following the RBI's advisory, banks referred Bhushan Steel Ltd, Bhushan Power & Steel Ltd, Essar Steel Ltd, Jaypee Infratech Ltd, Lanco Infratech Ltd, Monnet Ispat & Energy Ltd, Jyoti Structures Ltd, Electrosteel Steels Ltd, Amtek Auto Ltd, Era Infra Engineering Ltd, Alok Industries Ltd and ABG Shipyard Ltd to NCLT. These accounts together have a total outstanding loan of Rs 1.75 lakh crores.

For the acquisition of Essar Steel with NPA of Rs 49,000 crores, Numetal and Arcelor Mittal are having tough competition in the NCLT courts. Bloomberg reported that VTB backed Numetal has made a bid of Rs 37,000 crores in the second round of bidding. ArcelorMittal is understood to have made an upfront offer of Rs 30,500 crore and pledged another Rs 8,000 crore in the form of capital infusion into Essar Steel. It is expected that NCLT may approve the better deal by mid-June 2018.

Lanco Infratech owes INR 45,000 crore to a group of lenders, including ICICI Bank with the exposure of Rs. 7,380 crore and IDBI Bank at Rs 3,680 crore. Thriveni Earthmovers is said to have offered INR 1,400 crore in cash and liability for INR 38,000 crore of debt at the subsidiary level. The bid failed as the company couldn't get creditors vote. It is understood that Lanco Infratech has filed for liquidation.

With the successful resolution of Bhushan Steel, the finance ministry expects that the NPAs of 12 large companies would be cleared in near future and banks would get minimum Rs 1 lakh crore for further lending. Along with clearing NPAs, India's banks need to implement effective credit control mechanism which would result in greater transparency and sustainable financial modelling.

- Chaitanya Kulkarni.

India Infrastructure Update - Operational Metro Systems ( August 2016 )

Urban transportation infrastructure in India needs big investment and a massive upgradation. It is estimated by various studies that 60% of Indians will be living in urban areas by 2050. After the success of Delhi Metro, lots of Indian cities are exploring the option to implement metro rail project across the country. As per Ministry of Urban Development (MoUD), about 316 kilometres of Metro rail is under operation and more than 500 kms of Metro rail is under construction across the country. This includes metro/mono rail systems promoted by state governments and private bodies under their own arrangements. It is important to note that urban transport is a state subject. Thus, the planning, execution and development of urban transport facilities are done by the states and union territories.

Smart Cities which are under execution of MoUD are incomplete with metro rail systems. China has 20 metro rail systems under operations and additionally investing trillions of Chinese Renminbi on bullet trains and maglev. India's first mono-rail ( Phase 1 ) is operational in Mumbai and final phase is expected to be completed by December 2016. Meanwhile, MoUD and National Highways Authority of India gave final approval to Metrino Pods system in Gurugram. As India mulls innovation in public transport, transport analyst are aware of the fact that Metro is the only viable option for India looking as population and financial constraints.

Metro Systems operational in India 

Delhi Metro

Operational: 213 km | Under Construction: 136 km | Proposed: 105.93 km

Brown Line - Janakpuri West - Botanical Garden will use Hyundai Rotem Driverless train

The 65.1 km Phase 1 was completed in 2006 while the 124.93 km km Phase 2 was completed in 2011. Currently the 159.327  km Phase 3 is under construction of which 23 kms has become operational. The rest 136 km of lines will open in sections one after the other from 2016 – 2018. Phase 4’s initial new lines & extensions have been finalised and construction is expected to begin in 2018. Within the next 3 years, more routes are expected to be added to Phase 4.

Kolkata Metro

Operational: 28.14 km | Under Construction: 63.39 km  | Approved/On Hold: 32.48 km

AC variant of Kolkata Metro coach manufactured by ICF, Ministry of Railways. Kolkata Metro has also ordered 14 new trains from CNR Dalian, China. 

Construction for it started in 1972 and a small 3.40 km section between Esplanade and Netaji Bhavan opened in October 1984, making it the first metro system in the country. Between 1984 and 1995, more sections opened up bringing its total length to 16.45 km. Kolkata metro was extended by 10.94 km to New Garia station which is also known as Kavi Subhash station.

Mumbai Metro

Operational: 11.4 km | Under Construction: 0 km | Approved: 68.2 km | Proposed: 77.3 km

Western Expressway Bridge in Andheri

Operational : Versova – Andheri – Ghatkopar – 11.4 km

Executed & operated by a JV of Reliance Infra (69%), MMRDA (26%) & Veolia Transport (5%)

Approved ( Construction to begin in September/ October 2016)

- Colaba – BKC – SEEPZ –  33.5 km

To be executed & operated by Mumbai Metro Rail Corporation Ltd – GOI (50%) & GoMH (50%)

- Dahisar – DN Nagar – 18.2 km

This line is part of the larger 40 km line between Dahisar & Mankhurd. To be executed by the Delhi Metro Rail Corporation

- Dahisar (E) – Andheri (E) – 16.5 km

This line is part of the larger 24 km line between Dahisar (E) & Bandra (E). To be executed by the Mumbai Metropolitan Region Development Authority.

Namma Metro ( Bengaluru )

Operational: 30.3 km | Under Construction: 27.1 km | Approved: 59.32 km | Proposed: 102 km

Cubbon Park Metro Station on Namma Metro's underground stretch

Construction for the first phase started in April 2007 following which the Baiyyappanahalli – MG Road  section of the Purple line opened in 2011. The 42.3 km Phase 1 is expected to be completed in 2017. After Phase 2 is completed in 2024 (est), the metro network will become 114.4 km long.

Rapid Metro ( Gurugram )

Operational: 5.1 km | Under Construction: 7 km

In Phase 1 of the project which opened on November 14 2013, a 5.1 km line was built to link the Delhi Metro’s Sikanderpur station (Yellow line) with the business district of DLF Cybercity. As part of Phase 2, this line is currently being extended by 7 km on Golf Course Extension Road and is expected to be completed in 2018.

Chennai Metro

Operational: 10 km | Under Construction:  35.1 km | Approved: 9 km | Proposed: 132 km

Construction for the first phase started in April 2009 following which the Koyambedu – Alandur section of the Blue line opened in June 2015. The 45.1 km Phase 1 is expected to be completed in 2019. A further extension of the Blue line as part of Phase 1 to Wimco Nagar is expected to be completed by 2020. Phase 2 of the project is currently in the proposal stage and in its latest avatar has been proposed to be 123 km long.

Jaipur Metro

Operational: 9.63 km (Phase 1A) | Under Construction: 2.35 km (Phase 1B) | Proposed: 23.099 km

Construction for its 9.63 km Pink line under Phase 1A started in 2011 and became operational in June 2015. Construction on Phase 1B, a 2.35 km extension of the Pink line, started in January 2014 and is expected to be operational in 2018. Phase 2 of the project includes a new Orange line which will connect the heart of the city with the Airport and onward to the Sitapura Industrial Area. This line is planned to be built on the Public-Private Partnership (PPP) model and is yet to be approved.

Information Source - themetrorailguy.com

- Chaitanya Kulkarni