Solar Energy Corp of India converted into commercial entity

India’s installed renewable power capacity is 35,776MW, of which the share of solar power is 3,743MW.

New Delhi: State-run Solar Energy Corp. of India (SECI), formed in 2011 with charitable objectives, will be converted into a growth-oriented commercial company that will generate and sell solar power and develop other sources of renewable energy, the Union cabinet said Wednesday.

With an eye on expanding India’s renewable energy sector and streamlining it, the cabinet also approved renaming SECI as Renewable Energy Corp. of India (RECI).

The move will result in the company becoming a self-sustaining and self-generating organization with its own solar power plants that will generate and sell power. It will also lead to the company expanding activities in other segments of solar power, such as manufacturing of solar products and materials.

The decision to convert SECI from a Section 8 company to a Section 3 one under the Companies Act, 2013, was taken by the cabinet led by Prime Minister Narendra Modi at a meeting on Wednesday.

Section 8 provides for creation of companies with charitable objectives, prohibiting commercial activity and business growth.

In comparison, Section 3 provides for companies mainly for commercial activities that will help the company grow.

“A Section 8 company can only engage in activities of promotion of commerce, art, science, social welfare, sports, education, research, religion and charity, but not commercial activity leading to trade, buying and selling resulting in profit and distribution of dividend,” the government explained in a statement.

The cabinet last week formally approved a decision to increase India’s solar power generation target from 20,000MW by 2022 to 100,000MW by the same year.

The National Democratic Alliance (NDA) has been pushing for growth in India’s renewable energy sector. India’s installed renewable power capacity is 35,776MW, of which the share of solar power is 3,743MW.

Once the firm is renamed, it will expand its scope of activity beyond solar power to take up development of all kinds of renewable energy sources such as geothermal, off-shore wind and tidal.

The decision to enlarge the scope of SECI’s activities covering all renewable energy sources was taken “with a view to provide a comprehensive and optimized solution for generation of renewable energy integrating various renewable energy sources”.

“The generation profile of solar, wind and small hydro has complementarity, and generating power from these sources is likely to be more uniform. This will also reduce stress on transmission and distribution networks, resulting in better grid management,” the cabinet statement said.

Registered in September 2011, SECI has initiated activities for setting up solar power plants, as also for the promotion and commercialization of solar energy technologies. For the first time, during the last financial year, SECI made a profit of about Rs.12 crore. It is expected to touch the profit mark of around Rs.300 crore this year.

Experts said the government’s move was long pending but were unsure about its effect on India’s manufacturing capability in the sector.

“We have argued that SECI needs to be made more strategic. It has a dual role—of an investor and of an intermediary to sign the contracts with other project developers from the government. For now, the move signals SECI having a more central role in the overall solar ecosystem in India,” said Arunabha Ghosh, chief executive officer of Council on Energy, Environment and Water, a policy research institute.

“As per our calculations, to meet the 100GW target we would need to import $36 billion worth of solar panels and modules (given our current manufacturing capacity). But if built up incrementally, we can bring down imports to $16 billion. So, there is a significant opportunity to boost manufacturing.”

Solar Energy Corp of India converted into commercial entity

Service-friendly and reliable Filters from MANN-FILTER for the commercial vehicle sector

21.08.2014

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Filters of MANN-FILTER for commercial vehicles

Ludwigsburg, 21th August 2014 – Current emission standards as well as changes in combustion and injection processes place high demands on commercial vehicles and therefore also on filtration technology. As an international filtration specialist, MANN-FILTER is a reliable partner to the commercial vehicle sector with its comprehensive product range in original equipment quality. In addition to air, oil, fuel and cabin filters, the company also supplies drying agent boxes, oil centrifuges and transmission oil filters to its customers. “We have taken these increased demands on board and are consequently designing our products to be even more efficient and reliable,” says Matthias Weller, technical expert at MANN-FILTER, describing trends in filtration technology at this year’s Automechanika.

MANN-FILTER once again features in the “Truck Competence” visitor’s guide at this year’s Automechanika. You can see this competence in the various developments for commercial vehicle applications on display at Stand A51 in Hall 3.

Reliable filtration for even the tiniest impurities
On construction sites, forest tracks and mining sites, commercial vehicles are driven in extremely dusty environments every day. Polluted air can result in damage to the vehicle engine. These and many other challenges are met by air filters from MANN-FILTER , which feature nano-fibre technology to prevent the harmful effects caused by even the tiniest impurities. The carrier material of the nano-fibre media consists of cellulose coated with extremely thin layers of ultra-fine polymer fibres. The surface on which dust particles can be deposited is much larger as a result. Even the tiniest particles from the intake air, which are up to 500 times finer than a human hair, are almost completely filtered out.

Glue string technology – simple and efficient
Manufacturers of commercial vehicles face many challenges, including their energy, CO2 and material footprint. Filtration experts achieve savings in these areas for example by using glue string technology in air filters. With this technology, the metal, plastic or paper casing of the filter element is replaced by a special string made from polyester fibre. This conserves resources, saves energy in production and makes the metal-free air filters fully incinerable. The special string is wound around the air filter bellows in a discontinuous pattern and stabilises the distances between the filter pleats evenly across the entire filter height. This has a positive effect, significantly reducing flow resistance and therefore reducing pressure loss. This in turn optimises filtration performance and contributes to fuel savings.

Service-friendly oil filters for fast, simple disassembly
The product range offers filters in tested original equipment quality as well as service-friendly solutions for the trade and workshops. The MANN-FILTER “HU 1291 z” for commercial vehicles for example features a bayonet fitting. During opening, this bayonet connection ensures that the entire filter element can be released and lifted out of the socket in the housing without the effort usually required.

“The oil filter from MANN-FILTER works according to the open-and-remove principle,” explains Jörg Schömmel, Product Manager Oil Filters at MANN-FILTER. “For workshops, this means simple, clean and time-saving disassembly compared with other standard products.” Another advantage is the fact that the oil filter element is made from a mixture of cellulose and polyester fibre, making it extremely durable. MANN+HUMMEL already holds patents for the element in several countries.

Protection for driver and vehicle
Product development at MANN+HUMMEL is not only focused on the vehicle, but also on the vehicle user. More and more filters from MANN-FILTER feature a waterproof, flame-retardant impregnation. These treated filters reduce the risk of fire from the air filter in the engine compartment, even after 100,000 kilometres. This means increased protection not only for the vehicle and the load, but also for the driver and other road users.

Over 90 per cent market coverage in Europe
With market coverage of over 90 per cent in Europe, MANN-FILTER has filters for almost every truck and bus model in its product portfolio. Customers benefit from constant innovation, driven by 1,000 employees working in research and development worldwide.

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Press image:   Ready to face the big challenge: The product range from
               MANN-FILTER for commercial vehicles
               Mechanic with filters from MANN-FILTER

Press contact: Henriette Wemme
               Tel.: +49 (0) 7141 98-2583
               E-mail: henriette.wemme@mann-hummel.com

               Kersten Solacroup
               Tel.: +49 (0) 7141 98-2260
               E-mail: kersten.solacroup@mann-hummel.com

About MANN+HUMMEL
The MANN+HUMMEL Group is a leading global expert for filtration solutions and development partner and original equipment supplier to the international automotive and mechanical engineering industries. Employing 15,231 people at around 60 locations worldwide, the company achieved turnover of about 2.68 billion euros in 2013. The group’s product portfolio includes air filter systems, intake manifold systems, liquid filter systems, cabin filters and plastic sound components (known as ‘symposers’), as well as filter elements for vehicle servicing and repair. For general engineering, process engineering and industrial manufacturing sectors the company’s product range includes industrial filters, a series of products to reduce carbon emission levels in diesel engines, membrane filters for water filtration and filter systems.

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Service-friendly and reliable Filters from MANN-FILTER for the commercial vehicle sector

Plans submitted for Scotland's first commercial solar energy park in Angus

The 19.54 hectare solar energy park would generate enough electricity to power 2,500 homes

An Aberdeen-based renewable energy firm has submitted a planning application to create Scotland’s first solar energy park in Angus.

BWE Partnership is proposing a 19.54 hectare solar energy park at New Mains of Guynd Farm in Arbroath.

Under the plans, part of New Mains of Guynd Farm in Angus would be transformed into a solar energy park for a period of 25 years, after which the components would be removed.

The solar park proposal would operate with a capacity of 9.5 megawatts, which the developers say would provide enough electricity to power 2,500 homes.

Ron Shanks, managing partner of BWE Partnership, said: “We are pleased to have reached the planning application stage in the development process and hopefully our proposal will be viewed favourably by Angus Council and the local community.

“We continue to be on the look-out for further solar park opportunities, especially in Angus and Fife, as we believe there is a real opportunity for Scotland to harvest energy from the daylight.”

JLL provided planning and development advice on behalf of BWE Partnership.

Steven Black, Director of Planning and Development for JLL, said: “Whilst the idea of farming sunshine in Scotland may seem odd to some people, the lower intensity of sunlight is compensated for by longer hours of daylight, making solar power a viable resource of renewable energy north of the border.

“As one of the first developers to submit plans for such a site in Scotland, the park will provide a model for solar energy in rural areas.

“Not only will it help contribute to the UK and Scottish Government’s renewable energy targets, but it will bring significant investment into the local area, providing employment opportunities and supporting rural diversification.”

Plans submitted for Scotland"s first commercial solar energy park in Angus

CEFIA Announces Sale of Commercial Property Assessed Clean Energy Benefit Assessment Liens

ROCKY HILL, Conn., May 19, 2014 /PRNewswire/ – The  Clean Energy Finance and Investment Authority  (CEFIA), Connecticut’s green bank, and  Clean Fund , a specialty Property Assessed Clean Energy (PACE) finance provider, today announced the securitization of a portfolio of CEFIA-financed Commercial Property Assessed Clean Energy transactions. The sale, which will fund a total portfolio of $30 million of commercial PACE benefit assessment liens financed through a conduit structure. The Public Finance Authority is the issuer of the bonds which have been purchased by Clean Fund and CEFIA.

PACE allows property owners to access 100 percent up-front financing for energy efficiency and renewable energy improvements on their buildings. A lien is attached to the building and the owner repays the investment through an additional charge on their property tax bill.

“The sale of this initial portfolio of PACE liens to Clean Fund is the latest step in our effort to attract and deploy private capital here in Connecticut supporting energy efficiency and renewable energy opportunities,” said Bert Hunter, chief investment officer of CEFIA. “Some of the greatest value of the sale has been our enhanced understanding of how private capital providers currently value these low-risk, secure transactions. The bottom line is that PACE is working for building owners who are seeing energy improvements deliver substantial savings and PACE is working for investors who see the security of the financial structure of PACE and are willing to invest in Connecticut.”

Connecticut’s PACE program was launched in 2013 and is active across 80 municipalities in the state.  CEFIA established a $40 million financing warehouse to underwrite commercial PACE transactions throughout Connecticut.

We are pleased to have been selected by Connecticut’s green bank and are now investing in Connecticut PACE projects,” said John Kinney, chief executive officer of Clean Fund.  “The due diligence performed at the front end provides a strong foundation for sound investment opportunities. In just a year, Connecticut has moved to the front of the country when it comes to activity on PACE.”

CEFIA uses a technical review process and underwriting platform managed by Sustainable Real Estate Solutions (SRS) to quantify potential energy savings and to mitigate financing risk.

The program has closed on 23 projects and approved an additional 10, representing an investment of $30 million across 25 municipalities.  These projects include a combination of energy efficiency, clean distributed generation and hybrid projects. The portfolio represents a lifetime energy savings equivalent of $40 million. With an additional 75 projects in the pipeline, financing of up to $75 million is anticipated by the end of 2014.   

“The Public Finance Authority is pleased to be part of this unique and important financing that will pave the way for future critical energy efficiency projects,” said Jon Penkower, program manager for the Public Finance Authority.

About the Clean Energy Finance and Investment Authority
CEFIA was established by Connecticut’s General Assembly on July 1, 2011 as a part of Public Act 11-80. This new quasi-public agency supersedes the former Connecticut Clean Energy Fund. CEFIA supports Connecticut’s energy security and community prosperity by realizing its environmental and economic opportunities through clean energy finance and investments. As the nation’s first state Green Bank, CEFIA leverages public and private funds to drive investment and scale-up clean energy deployment in Connecticut. For more information about CEFIA, please visit www.ctcleanenergy.com .

About Clean Fund Clean Fund is a specialty finance company providing up to 100% financing designed to accelerate investments in energy efficiency, water efficiency, and renewable energy.  Clean Fund is the industry leader in implementing Property Assessed Clean Energy (” PACE “) finance for commercial (non-residential) properties. PACE transforms the repayment mechanism for energy investments from an unsecured position in the cap-stack to one that is secured by the entire property. This significant collateral enhancement enables Clean Fund to offer non-recourse long-term financing without covenants.  These flexible terms of up to 20 years with a fixed rate produces compelling economics and make many more projects both attractive and financeable.  For more information on Clean Fund and our team, please visit our website www.cleanfund.com  .

About Public Finance Authority Public Finance Authority (PFA) is a government entity established to issue tax-exempt conduit bonds for public and private entities nationwide and is sponsored by the Wisconsin Counties Association, Wisconsin League of Municipalities, the National Association of Counties and National League of Cities. PFA provides the means to efficiently and reliably finance public benefit projects that create jobs, affordable housing and infrastructure, and improve the overall quality of life in local communities. PFA partners with private borrowers and provides local governments with the technical assistance needed to bring tax-exempt and taxable bonds to market nationwide.

About C-PACE Administered by CEFIA, C-PACE is a tax-lien financing program that allows interested property owners to finance qualifying energy efficiency and clean energy improvements on their buildings with no upfront costs through a voluntary assessment on their property tax.  Similar to a sewer tax assessment, capital provided under the C-PACE Program is secured by a senior lien on the owner’s property tax bill and paid back over time, spreading the cost of energy improvements over the expected life of the measures.  C-PACE is a policy that promotes economic development upgrades, keeps energy costs down, and provides a platform for Connecticut businesses to maintain a competitive advantage.  For more information on the program, please visit www.c-pace.com

SOURCE Clean Energy Finance and Investment Authority

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CEFIA Announces Sale of Commercial Property Assessed Clean Energy Benefit Assessment Liens