India’s newly
installed Prime Minister Narendra Modi is promising the country’s 1.26 billion
people “round-the-clock power for all by 2022,” as originally reported by the
Wall Street Journal. Nearly a fourth of the country’s population live in the
dark – literally – with no access the nation’s overburdened electrical grid.
Those that do have power often experience frequent blackouts.
Prime Minister Modi
is picking up where his predecessor failed, says India’s new energy Minister
Piyush Goyal.
“The previous
government failed to take crucial decisions to expand grid connectivity,” Goyal
told reporters last week. “The sector is in a mess.”
What the previous
government did achieve, however, was tackle the issues of little power
generation and insufficient transmission capacity, in part by upgrading major
transmission lines linked to India’s five regional grids to 765 kilovolts from
400 kilovolts, which helped prevent the massive 2012 power outages from
spreading. Former Prime Minister Manmohan Singh also promoted the use of
renewable energy, including an initiative to install solar-powered irrigation
pumps.
Despite these
initiatives, the country’s electrical grid still bows under the weight of
demand. Uttar Pradesh, home to about 200 million people, on June 7 suffered a
triple-digit heatwave that triggered blackouts of up to 12 hours a day, leaving
citizens without fans, water pumps or air conditioners. The blackouts prompted
angry riots, with citizens of the impoverished state setting electricity
substations on fire and taking power company officials hostage, as reported by
the Associated Press.
With more scorching
summer temperatures in the forecast, Prime Minister Modi is facing the heat,
right along with the sweating citizens of India. There are, however, plans in
action to carry-on former Prime Minister Singh’s press for renewable energy.
Carson City,
Nevada-based Pan Global, which also has a Mumbai, India office, incubates and
finances investments in high ROI renewable energy and energy efficiency
technologies, primarily in India. The company is currently in the process of
acquiring “Project Badyar,” a 5.7MW small-hydro plant located in northern
India. Project Badyar is on track to connect to the power grid later this
summer, and is expected to generate annual revenue of approximately $1.95
million starting on the project’s commercial operation update.
Pan Global is also
considering agricultural and solar PV opportunities in India, and says it is in
discussions with one of the three players who have been issued a geothermal
power production in India. The company’s plan is to assume development of the geothermal
project then proceed to emerge as one of the first companies to generate
geothermal power in India.
Pan Global’s
overarching vision is aligned with the Indian government’s initiative to
overhaul the country’s crippled electricity grid and address the desperate
circumstances of the nation’s population. Pan Global’s more specific aim is to
provide alternative energy solutions for Indian businesses and households while
generating sustainable company revenue.
For more information
visit www.panglobalcorp.com
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