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RE Updates

LG Plans Green Makeover in Indian Facility

South Korean giant LG Electronics is working on using technology to revamp its product line by next year, based on three key parameters. The new products will offer reduction in energy utilisation by 22-30 per cent, offer smart gadgets such as internet-enabled TV and leverage the health platform, such as refrigerators to help you burn calories or TV sets which will help you control your weight. Not sure how TV sets will help us control our weight, I was under the impression TV sets did the exact opposite, but let’s wait for more updates on this from them! More – http://bit.ly/8YGsWv

BTS Plans Second SME Fund At $200M Corpus

BTS Investment Advisors is raising its clean energy fund with a target of $120M and is expecting a first close in the next 3 months. The Mumbai-based private equity firm focussed on small and medium enterprises (SME), is planning to raise its second sector-agnostic SME fund with a corpus of $200 million. It has started already raising its clean energy fund which has a target of $120 million. Once the first fund, BTS India Private Equity Fund I, is completely deployed, which is expected by end of 2010, the fundraising for Fund II will start, according to K Srinivas, managing partner, BTS. Looks like the green entrepreneurs in India have more help at hand. More – http://bit.ly/aLfdr7

KPMG Predicts 189 Million-Ton Coal Shortfall by 2015

India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s expected demand, leading to a twofold increase in imports, KPMG said. Just imagine! The country with the fourth largest reserves of coal importing a large chunk of its requirements. Reminds me of Iran, which has one of the largest deposits of crude, actually importing gasoline/diesel due to the lack of refining capacity in the country! More – http://bit.ly/abIg9j

Renewal Energy Park in India Set to Open During October 2010

Periyar Science and Technology Centre (PSTC), a government-owned technology centre, has announced its plans about setting up a renewable energy park in association with Tamil Nadu Energy Development Agency (TEDA) at a cost of 1.2 crores. The PSTC owned by government of Tamil Nadu a state in south India is planning to have models and devices utilized in non-conventional energy sources at the exhibition. It’s not clear where this exciting park is coming up, hopefully in Chennai, so that I and my team can visit it often! More – http://bit.ly/9IsHC8

11 buildings in TN get energy-efficient rating from central 11 buildings in TN get energy-efficient rating from central agency – The city’s buildings are high on energy efficiency, according to an ongoing national-level rating exercise. Eight office buildings in the city were rated energy-efficient by the Bureau of Energy Efficiency (BEE), the energy conservation body of the power ministry. Three more in Tamil Nadu also received this rating. Four city buildings Reserve Bank of India, two southern railway buildings in Perambur and a private energy company got five star ratings for energy-saving measures and cutting down on power consumption. The divisional railway manager’s office in Tiruchi also got five stars. I have been in Tamilnadu almost all my life, and only now I’m beginning to get a sense that my state is quite good when it comes to being eco-aware. More – http://bit.ly/aEUUG1

India joins leading economies in clean energy commitments – At a major event in Washington D.C. – the first ever Clean Energy Ministerial – India joined a number of countries in making significant commitments on clean energy. India took a leadership role on one of the most promising programs announced yesterday, the Super-efficient Equipment and Appliances Deployment (SEAD) Initiative. More – http://bit.ly/d7gi7L