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Wednesday, August 06, 2014 2:37:33 PM
Pan Global continues advancing an attractive portfolio of sustainable energy, infrastructure and agricultural interests focused on the steadily growing market in India, with the recent grid connection of a 5.7MW small-hydro plant up in Uttarakhand (where around 70% of the population still lives in rural areas) being a prominent example of the company’s strategy for helping to solve India’s enormous demand for energy using localized generation with a low environmental impact.
With around 4.7% GDP growth for Q4 last year and despite a relative slowing in the economy, India remains one of the stronger growth markets globally for localized green energy solutions, especially mini-to-small hydro, with its ability to generate power from low flow-rate rivers without having to dam or create reservoirs. According to 2013 IEA data, well upwards of 24.7% of the roughly 1.27B people in India are still without access to electricity and this is a very conservative figure (some estimates say 400M or more), giving investors an idea of the potential which still exists for localized generation.
With the 2012 series of severe blackouts that left some 600M without power at one point still fresh in everyone’s mind, reports like the recent one just in from the northeastern state of Arunachal should give pause. Frequent power cuts have crippled the main hospital in one of the oldest towns in the state, Ziro (12.3k people, encompassing Lower Subansiri district has around 83k people), leading to serious preservation problems at the blood bank. The 2012 blackouts, chalked up by analysts to unstable grid architecture and overloading, cost at least $100M (Economist Praveen Jha, New Delhi’s Jawaharlal Nehru University).
It is in this environment that PGLO is advancing a mix of hydropower, geothermal, solar photovoltaic and green building/energy efficiency vectors, as well as sustainable agriculture, where the company seeks to leverage their expertise and deliver vegetables and other in-demand crops via scaled hydroponic greenhouse production. High quality organic produce to feed India’s growing population is a no-brainer (2.59 births per woman, while down from highs in the 1960's of around 6, is still a major growth curve compared to 1.89 in the U.S.) and localized green energy solutions to provide clean electricity to go along with the food, make tremendous sense in light of the national grid’s vulnerabilities and inconsistencies.
The new PM of India, Modi, who came in partially on the strength of former PM Singh’s failures to handle the nation’s growing electrical demand, just kicked off the start of a major project to lay a robust new transmission line further north of Uttarakhand in Jammu and Kashmir, as well as to put in two new 45MW hydropower plants, clearly showing the Indian government’s drive to modernize India’s grid, even up in the rugged Himalaya territory. Localized hydro solutions are a great way to help meet demand, but another growing vector is solar photovoltaics, which allow for even more localized micro solutions that can replace the mostly diesel generators in use by small businesses and households.
The report on the global green energy market by ResearchMoz out in May of this year pegs a compound annual growth rate of around 8.3%, projecting a market just under $832B globally within the next half decade alone. Growing demand for electricity from consumers in particular, who use an increasingly sophisticated array of technologies in their daily lives (requiring higher energy density), is setting the precedent for more stable supply solutions. This is especially true in India, where the solar market alone could be worth billions over the next decade according to the 2013 A.T. Kearney report ($7B in capital investment and $4B in annual revenues for grid-connected solar over the next decade).
The strength of the Indian solar market and clear growth potential for green energy in India has even led PGLO to start development on a solar installation and services ecommerce marketplace site, the Pan Solar Marketplace, in order to fully exploit the cultural, as well as governmental support for supercharging India’s renewable infrastructure. Initially focused on rooftop solar, the Pan Solar Marketplace looks to bring together hardware developers, installers and customers, with an eventual migration into larger ground-based solar array projects as well.
For more information, visit: www.panglobalcorp.com
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