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Tuesday, June 17, 2014 4:41:50 PM
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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