ENERTIA - Global Output March 2021 - RPO & Climate Equity by ENERTIA

Vol. 13 | GLOBAL OUTPUT | MARCH 2021 – RPO & CLIMATE EQUITY

EXCLUSIVE INTERVIEW

"HYDRO VISION”

INSIDE this Issue A K SINGH CMD, NHPC Ltd.

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Ÿ Ÿ Ÿ INTERNATIONAL PATRON LIFE MEMBER

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LIFE MEMBER

CHINESE Embedded Malware poses threat to INDIA's PowerGrid Adani Welspun strikes Natural Gas & Adani Transmission reaches milestone of INR 1 Trillion (US $ 13 Billion) Market Cap CESC – INDIA’s Best Power Sector Utility NHPC – Making huge strides in Renewable Energy SJVN bags 679MW Project in NEPAL AFCONS – INDIA’s No. 1 Construction Infrastructure Co. NTPC Delivers Electrifying Performance in Fy21 6th IPEC (INDIA Power & Energy Conclave) and “PRAKASHmay 13th ENERTIA Awards” 2020 CAIRN – VEDANTA Impasse SIEMENS Commissions INDIA’s first HVDC link featuring State-of-the-Art VSC RenewSys India Offers Advanced High Output Modules MYSUN Plans Rs. 600 Cr. Investment

Evonik’s Membrane Technology supports the Indian Government Initiatives to develop Renewable Energy and Ensure National Energy Security

ISSUE CO-PARTNER

more inside.... INDIA needs 800 – 1,000 GW of Installed Power Generation to give traction to a US $ 10 Trillion GDP (US $ 6 Trillion feasible by 2025–26) with 700 – 750 GW.

INDIA needs 800 – 1,000 GW of Installed Power Generation to give traction to a US $ 10 Trillion GDP (US $ 6 Trillion feasible by 2025–26) with 700 – 750 GW. Power Generation and the entire activity of Transmission and Distribution with an aim towards “Sustainable Power / Electricity Access for ALL” must be our national obsession and uncompromising mission if we have to make INDIA a real time “SUPERPOWER ECONOMY” and Polity at that. No politics can be sustained successfully without a sound background for development of the “Political Economy” and at the forefront of this lies the need for the “PRIME MOVER - Power and Energy to run the Economy on sustainable basis”. Electricity is one component of the above, which drives 70% of the economic needs of any nation. Next comes the need for Energy in the form of Fuel for Transportation and other human needs like cooking (home and community), commercial use, industrial use, hospitality, health care, rural community centres, etc. Predominantly, here the fuel is converted to form of Energy (propulsion in the case of transportation by road, sea and air). It is in this direction, it is necessary to understand an economy similar to our expanse in terms of population vis-à-vis CHINA, which has 1.4 billion people to cater to. At present, as of 2020 gures, CHINA has 2,200 GW + of installed Power Generation capacity out of which Coal based Thermal Power Plants produce around 1,078.4 GW, Solar installed capacity was 252 GW, Wind Power was 281 GW and around 500 GW of Hydroelectric installed capacity. The GDP of CHINA at 2020 levels (sans COVID impacts) was in the region of US $ 14 Trillion. In comparison, INDIA's population is 1.38 billion (comparable to CHINA), while INDIA's installed capacity is 375 GW (17% of CHINA) as on date with Coal based Thermal Power being about 206 GW (19% of CHINA), Solar Power at 37 GW (14.7% of CHINA), Wind at 38 GW (14% of CHINA) while Hydropower is at 46 GW (9% of CHINA). The GDP of INDIA at 2020 levels (sans COVID impacts) was in the region of US $ 2.8 Trillion (20% of CHINA). The above comparison is very important and pertinent as with a similar population, the minimum traction INDIA needs to achieve is half of that of CHINA i.e. a GDP factor of US $ 6 to 7 Trillion and that too in quick time, that time cannot be lost any further as well as cannot be left to future. ENERTIA has time and again advocated that GDP doubling or reaching the US $ 5 – 6 Trillion mark needs the energy intensity to be upped and that means INDIA has to work on the power infrastructure upheaval to 700 to 750 GW by 2025. The biggest bottleneck in this is back to the generation itself as over focus on Transmission and Distribution has resulted in improving the transmission infrastructure only to meet the existing capacity of 375 GW installed while on the other hand a weak DISCOM off-take (thanks to denial of access to the poor and marginal), while over billing the Urban, Commercial and Industrial sector make the power distribution sector of predominantly state run Public Sector Distribution Companies (DISCOMs) highly inefcient and incapacitated too. If ever there was a strong case for privatization or PPP (Public Private Partnership), it was at the Power Distribution end which needed to follow a consumer centric policy and replicate the success of the Telecom markets driven by consumer choice, especially the choice to shift to preferred operator. This choice is not available in the power sector and there has been constant monopolisation by the DISCOMs in their area of operation. A Zero Competition situation for DISCOMs controlling both the Line and Wire Business has resulted in monopolies both in Public Sector State DISCOMs and also in the Private Sector albeit, the performance of the Private Sector DISCOMs has been far superior to the under performance and denial of access to electricity models of the State DISCOMs. The States like Odisha, Andhra Pradesh, Telangana, Karnataka and Kerala are rare examples of success. Rest of the State DISCOMs are mired in huge losses and in under performance zones. Once celebrated Gujarat Utilities have also slipped miserably and are selling high priced costly power to end consumers. The gains of the past are lost thereof and even supplier payments are being delayed by several DISCOMs including those of Gujarat, a rich state leading to economic crisis in the Power Sector service industry that deals with DISCOMs like SMART Metering, SMART Grid components and other demand side management technology integration necessary for improving the distribution efciency as well as management of the consumer experience in terms of quality and reliability of supply. What is the Solution? It lies in the very nature of this discourse that we need to put our money where our mouth is and that means we have to invest in Power Generation, Transmission and Distribution simultaneously. Doubling the capacity needs an outlay for 375 GW (375,000 MW) at Rs. 6 Crores (Rs. 60 Million) per MW which comes to roughly a US $ 300 Billion game plan in nancing terms. This plan has to be built and set-up now with 50% or US $ 150 Billion corpus immediately. Not only this will revive the power sector but it will have a massive impact on linked sectors of infrastructure, water, agronomy and industry at large. Not to mention the huge employment opportunity it brings via the brick and mortar development economics sans the isolated IT and Digital Economy we have been shouting about from the roof top when the reality remains that digital is a pure enabler and not a provider in itself.

MARCH 2021 – RPO & CLIMATE EQUITY

High time the Government of the day invests in the physical infrastructure of power sector with expanded Renewable Energy Portfolio upping-the-ante to build 450 GW of Renewable Energy by 2024 and even better by aiming at 400 GW of Solar itself by 2025-26 with Hydropower target of 100 GW and equivalent Wind Energy target. The other arena that can be a game changer is the Bio-CNG and Bio-Fuel combine that can enable the access to clean energy from Agro, Municipal, Commercial and Industrial Waste processing across an “EFW” (Energy from Waste) initiative. This can initially aim at Bio-Energy from Waste with Agro Waste at the forefront followed by Municipal Waste conversion to Energy. That could add another 25 GW of decentralised set-ups which will enable Bio-Fuel for the Transport Sector in addition to initiatives of Bio-Diesel and blending of ethanol / methanol upto 20% in conventional petrol and diesel. The technology of IC (Internal Combustion) Engines will expand to adopt Bio-Fuels (Transport Vehicles, Train, Aircrafts & Ships). The obvious question is what happens to EV (Electric Vehicles) ? Our opinion at ENERTIA is INDIA must look at a larger picture and not put all eggs in one basket. Hence the energy basket for transport sector too needs to follow this principle. While EVs will have a market share in the medium term for RE-Mobility, we cannot deny the huge potential that Bio-CNG and Bio-Fuels offer. Even for aviation and shipping sectors, Bio-Fuels will play a major role or simply said Bio-Energy has great potential. The logical expansion from that will lead us to Hydrogen powered vessels on Sea and Hydrogen powered transportation for rail and road. The historical “HINDENBURG” experiment was called a disaster in May 1937 but the fundamentals were linked to safety and security of dealing and operating with Hydrogen in the internal combustion engines (in that case of the air ship they were reciprocating engines). One must not forget that it was never a failed experiment with Hydrogen but rather a failed understanding of Hydrogen as a fuel and gas with explosive characteristics when it comes in contact with re and heat or inammable substance with no avenues to exit. Trapped hydrogen is almost a bomb like situation but owing hydrogen is the best fuel and gas resource on the planet. Modern Technology is bound to revisit these objectives and use of Hydrogen has already come back in Germany with the rst Hydrogen fuel cell driven train demonstrated in passenger service across the EU in a 'Smart and Clean Mobility' campaign. The possibilities for “Future of Energy” 2050 are immense and ENERTIA stands fully committed to this Renewable, Clean and Green Energy Future on the Planet via REPA (Renewable Energy Promotion Association) Theme – PACE (Positive Actions for Climate Equity).

MARCH 2021 – RPO & CLIMATE EQUITY

N MURUGESAN Former Director General – CPRI & Hon. Co-Chair, REPA & GSFI ENERTIA Foundation

MARCH 2021 – RPO & CLIMATE EQUITY

PowerSystem CyberMalware

CHINESE Embedded Malware poses threat to INDIA's PowerGrid Report by INSIKT – “Recorded Future” details the event and its future repercussions On 16 th March 2021, I was on “ZEE Business” discussing the INSIKT – “ R ecorded Future” repor t on corroborative events as further reported by New York Times (NYT) as evidences emerged of a Chinese Cyber Intrusion on INDIA's Power Grid in 13th October 2020, when Mumbai's and its Suburban Power System came to a standstill due to a malware triggered collapse. Disturbing Reports of INDIA's POWER GRID hacked through Cyberelectronic induced Code embedded into the Power System Hardware has been reported by “Recorded Future” INSIKT Group a reatening Risk Security Analysis (TRSA) Agency that has identi ed a Chinese Malware Cybera ack group called “RED ECHO” and corroboratively linked the October 13 Collapse of the Western INDIA Grid that impacted 20Million + population of the Mumbai

Metropolitan Region (MMR) and S u b u r b a n ( C e n t r a l + We s t e r n) Commercial Capital Region (CCR) with Mumbai, ane, Dombivli-Kalyan, Navi Mumbai all facing the brunt in Peak COVID situation as we were limping out to some normalcy post long lockdown. Stuart Solomon, Recorded Future's Chief Operating Oﬃcer (COO), said that the Chinese state-sponsored group, which the rm named Red Echo, “has been seen to systematically utilize advanced cyber intrusion techniques to quietly gain a foothold in nearly a dozen critical nodes across the Indian power generation and transmission in astructure.” e investigators who wrote the Recorded Future study, said that “the alleged link between the outage and the discovery of the unspeci ed malware” in the system “remains unsubstantiated.” But they noted that

“a d d i ti onal e v i d e n c e sug g e ste d th e coordinated targeting of the Indian load dispatch centers,” which balance the electrical demands across regions of the country. Some Excerpts om NYT Article : e discovery is the latest example of how the conspicuous placement of malware in an adversary's electric grid or other critical infrastructure has become the newest form of both aggression and deterrence — a warning that if things are pushed too far, millions could suﬀer. “I think the signalling is being done” by China to indicate “that we can and we have the capability to do this in times of a crisis,” said retired Lt. Gen. D. S. Hooda, a Cyber Expert who oversaw INDIA's borders with Pakistan and China. “It's like sending a warning to INDIA that this capability exists with us.”

MARCH 2021 – RPO & CLIMATE EQUITY

PowerSystem CyberMalware

Both INDIA and CHINA maintain medium-size nuclear arsenals, which have traditionally been seen as the ultimate deterrent. But neither side believes that the other would risk a nuclear exchange in response to bloody disputes over the Line of Actual Control (LAC), an ill-de ned border demarcation where long-running disputes have escalated into deadly con icts by increasingly nationalistic governments. Cybera acks give them another option — less devastating than a nuclear a ack, but

capable of giving a country a strategic and psychological edge. Russia was a pioneer in using this technique when it turned the power oﬀ twice in Ukraine several years ago. And the United States has engaged in similar signalling. A er the Department of Homeland Security announced publicly that the American power grid was li ered with code inserted by Russian hackers, the United States put code into Russia's Grid in a warning to President Vladimir V. Putin.

Now the Biden Admini stration i s promising that within weeks it will respond to another intrusion — it will not yet call it an a ack — from Russia, one that penetrated at least nine government agencies and more than 100 corporations, as reported by NYT. Until recent years, China's focus had been on information the . But Beijing has been increasingly active in placing code into infrastructure systems, knowing that when it is discovered, the fear of an a ack can be as powerful a tool as an a ack itself. In the Indian case, Recorded Future sent its ndings to India's Computer Emergency Response Team, or CERT-In, a kind of investigative and early-warning agency most nations maintain to keep track of threats to critical infrastructure. Twice the center has acknowledged receipt of the information, but said nothing about whether it, too, found the code in the electric grid, as stated in the NYT article. ENERTIA's further take : is Author has been highlighting this Chinese Cyberthreat to the INDIAN

MARCH 2021 – RPO & CLIMATE EQUITY

PowerSystem CyberMalware

a acks, especially through electronic power plant & power system controls, smart grid access components, transformers, switchgears, switchyards, Substations, etc. which favour Chinese makes in an L1 Tender System. e In ltration of China made and possible embedded malware is now at our doorsteps with several private sector players operating Chinese made BoilerTurbine-Generators (BTGs) and other mentioned components even in Renewable Energy Systems (RES) like Solar Invertors and Grid Integration hardware + So ware etc. POWER GRID since 2007. Also, I had predicted the subsequent Grid Collapse of the Northern, Eastern & North-Eastern PowerGrid in July 2012 due to Frequency based Instability & Vulnerability due to Grid Indiscipline and the One-Grid-OneNation came into vogue Circa 2013 a er Southern Grid was integrated with Rest of India strengthening our network. Yet, this Chinese threat of Cybernetics a ack was persisting that I had been highlighting as amongst the greatest threat for our national security since 2010 and I have spoken on this subject on several other media platforms and channels as well as wri en extensively in ENERTIA Journal.

Network Hacking malware code inducing rogue agency operating from Chinese soil that has pointed corroborative evidences to having done this to Indian Power Grid on 13th October post the June GALWAN Standoﬀ and Brutal engagements that saw 20+ of our Brave Soldiers Martyred. Indian Armed Forces did retaliate in Counter A ack reportedly killing 40+ Chinese PLA Soldiers in Quick Time (I was the Only World Journo to List 30 of those names on my FB Timeline).

Time to stop the import from CHINA of Power System Control & Demand Side Management components as well as revisit the Transmission & Distribution sector supplies from Chinese makes for Power Sector even if it is Transformers and other such stuﬀ that has full scope of programmable malware embedding. WARNING SIGNALS ARE HERE that Future Warfare will not be on Borders, but through such GRID Cybera ack using

However, this grave strategic issue we are facing has been sidelined and neglected as a distance possibility time and again by those who must be concerned about National Security of Assets as well as overall threat to security apparatus owing to economic and other consequences that can impact us through a cyber malware driven grid collapse. And now, as I have always suspected, CHINA has gained expertise in conducting orchestrated a ack on the electricity grid of INDIA and neighbouring allies like BHUTAN as evidenced & exposed by the “Recorded Future” and the NYT quoting from it. Hope, the Government of the day thinks deeper post this nding which was planned by “Red Echo”, the China sponsored Cyber

Only RUSSIA & USA had capabilities of Cybernetic a ack on Power Grid and it is clear the Chinese PLA and it's planted grouping like RED ECHO have sent a veiled threatening warming of such events in future as well as INDIA has been procuring Chinese made electronic control systems in power sector in Generation, Transmission & Distribution sectors, such imports and retro ts making our system vulnerable to embedded

embedded malware and we should prepare for Ultra High Voltage Electromagnetic Waves, AI Induced Warfare versus our Electricity Grid by breaching the RLDCs (Regional Load Despatch Centres) and their Security set-ups as it seems to have happened in October 2020, Mumbai event. (Prof. A G Iyer, Editor-in-Chief with Team, ENERTIA)

MARCH 2021 – RPO & CLIMATE EQUITY

In One Second, our Sun produces enough Energy to meet the current needs of the entire Earth for 5,00,000 Years.

Additionally, IKRATOS is also in discussion for establishing mega projects MoUs / Mandate(s) with competitive PPA's ranging from @ US$ 3 cents - US$ 4 cents per KwH (Most competitive & aggressive tariffs on levelized basis in the country) with various Indian Provincial (State) governments for developing MW scale State-of-the-Art Technology Solar PV & Solar Thermal Power Plants - to be among the Largest such project in Asia. The project is backed by World Class Technologies with an aim to provide long term positive disruption for delivering affordable competitive power as envisioned by the government of India's theme of 'Power Access for All” with Solar and Renewable Energy in the lead. IKRATOS is committed to deliver 'Competitive Solar' in the most Challenging Market Environments. IKRATOS Solargie Pvt. Ltd. (ISPL) is founded by a leading group of technology initiative experts and visionaries with the Best and proven experiences in the Solar and Renewable Energy Sector Project Conception, Development and Implementation.

‘LOWEST Solar Tariff’ offered for Haryana MoU – HAREDA – HPCC for PPA @ Rs. 2.92 per KwH (Unit) – 25 Years levelized Tariff basis for 1000 MWp proposed (250 MWp x 4 Phases). This is the Lowest Discovered Tariff under ‘SWISS CHALLENGE’ for Haryana (Circa 2017).

Corporate Office : 218, Gopi Cine Mall, Nana Shankar Seth Road, Dombivli (W), Thane - 421 202 Mumbai Metropolitian Region, Maharashtra, INDIA Mobile : +91 – 92232 07245 / 75887 13573 | E-mail : ikratossolargie@gmail.com / ikratosindia@gmail.com

FM/IKRATOS-2021/ENERTIA

IKRATOS Solargie has signed an MoUs with State (Provincial) Governments in INDIA, Dept. of Renewable Energy for 1500 MWp Solar Energy Projects to be powered with State-of-the-Art advanced SPV (Solar Photovoltaic) System & Technology using German Engineering and know how. The company is also planning to demonstrate large-scale (GW Scale) Solar + Battery Backup Grid Integrated Hybrid Pilot Power Plants for Sustainable Grid Supply.

Transmission Buz

ANIL SARDANA MD & CEO

Adani Transmission reaches milestone of INR 1 Trillion (US $ 13 Billion) Market Cap In a major move, Adani Transmission Limited (ATL) has signed de nitive agreements with 'Essel InfraProjects Ltd' for the acquisition of Warora-Kurnool Transmission Ltd (WKTL) at an enterprise valuation of INR 3,370 crore. With this strategic acquisition, ATL became the 5th Adani Group Company to cross INR 1 Trillion Market Cap. e ATL stock touched an all-time high of INR 924 on BSE. e other companies in the INR 1 Trillion club in the Adani Group are Adani Enterprises Ltd, Adani Green Energy Ltd, Adani Total Gas Ltd and Adani Ports that have achieved this milestone. WKTL will develop, operate and maintain transmission system aggregating to 1,750 circuit kilometer (ckt km) in Maharashtra, Telangana and Andhra Pradesh and a 765 / 400 kV substation at Warangal. With this acquisition, the cumulative network of ATL will reach 17,200 ckt km. With this expansion in scale of operations, ATL will enjoy substantial bene ts in terms of cost optimisation and shared resources and will

also fortify its position now further as INDIA's largest Private Sector Transmission Asset Company. Further, ATL's asset class cover s transfor mat ion capacity of 30,000 MVA + and at a very high Transmission Network Availability Factor (TNAF) of 99.76% serving 3,000,000 + power connections. Led by its Managing Director & CEO, Anil Sardana, who has an impeccable record of the past having led Tata Power from the forefront right from the days of the Tata Power Delhi Distribution Company growing into one of the best asset class DISCOMs a er its unbundling from the earlier Delhi Vidyut Board and becoming NDPL (North Delhi Power Limited). ATL has its presence across 12 States with 26 Transmission Projects and 40 sub-

stations. It is known that ATL had acquired the erstwhile BSES DISCOM from Reliance Infra (ADAG Entity) at a consideration of INR 18,000 Crores (US $ 2.4 Billion) and the new entity Adani Electricity Mumbai Limited is billed as INDIA's largest Private Sector Power Distribution Utility. Adani Electricity caters to more than 2,000 MW of electricity demand in Mumbai and company has future plans to further its distribution sector presence through acquisition mode.

MARCH 2021 – RPO & CLIMATE EQUITY

NG Discovery

GAUTAM ADANI Chairman Adani Group

Adani Welspun strikes Natural Gas in Mumbai Off-shore Region Adani Group Chairman, Gautam Adani, announcing the discovery said it will help take INDIA closer to its target of becoming a Gas Economy. A Joint Venture ( JV) of Adani Group and Welspun Enterprises Ltd - AWEL (Adani Welspun Exploration Ltd) has discovered Natural Gas Reserves in an area oﬀ the Mumbai coast, the two rms said in a statement. e rst-ever gas discovery was made in the NELP-VII block MBOSN-2005/2, as per AWEL sources. Spread across 714.6 square kilometers, the block is located in the proli c gas-prone Tapti-Daman sector of the Mumbai Oﬀshore basin where production is already underway by other operators. “ e pay zones and ow rates encountered have exceeded the company's initial estimates,” the statement said while details were yet to be revealed. “ With the information gleaned om adjoining elds/areas, this discovery is of substantial signi cance for both the company and the nation.” Adani Group Chairman, Gautam Adani, said the discovery will help take India closer to its target of becoming a gas-based economy.

MARCH 2021 – RPO & CLIMATE EQUITY

“INDIA is the world's third-largest consumer of energy. But the share of natural gas in INDIA's current energy mix is just 6 percent, among the world's lowest. We can triple this by 2030. Our discovery of gas in Mumbai Oﬀshore's Tapti-Daman sector will take us closer to this target,” Gautam Adani tweeted.

with 378 barrels a day of condensate, the second object owed 9.1 mmscfd of gas along with 443 barrels a day of condensate.

AWEL was awarded the block under the New Exploration Licensing Policy 's (NELP) seventh bid round.

Speaking on the discovery, Sandeep Garg, Managing Director, AWEL, said, “In addition to being value accretive for the company, this discovery could be a signi cant breakthrough for our nation given India's focus to nearly triple the share of natural gas in its energy mix by the end of this decade.”

“Early indications pointed to the occurrence of gas-bearing reservoirs within the sandstone reservoirs of the Mahuva and Daman formations,” AWEL said. e drilling of the current well in March 2021 has con rmed the presence of substantial quantities of gas and condensate in the block.

He said the company is also an operator with 100 percent interest in an adjacent Discovered Small Field B-9 Cluster in this proli c gas-bearing zone. “ e proximity of these two prospective blocks will enable AWEL to synergise and optimise the development of both the blocks,” Garg said.

Out of the three potential zones identi ed during drilling, two objects tested by Drill Stem Testing (DST) owed substantial gas and condensate to the surface. While the rst object owed 9.7 million standard cubic feet per day (mmscfd) of gas along

Adani Group holds 65% through its agship company Adani Enterprises in AWEL, while Welspun Group holds 35% through Welspun Natural Resources, a wholly-owned subsidiary of its agship company Welspun Enterprise.

Impact Feature – Best Power Utility

Debasish Banerjee Managing Director (Distribution)

Rabi Chowdhury Managing Director (Generation)

CESC – INDIA’s Best Power Sector Utility CESC Ltd. won the prestigious P SHmay 13th ENERTIA Awards on Friday, 18th December 2020 for being “INDIA's Best Performing Utility in Power Sector – Overall” encompassing Power Distribution, Transmission & Generation. T&D (Transmission & Distribution) losses were a record low of 8.9% while recording highest export of 700 MUs (10% in Million Units of Generation). e Kolkata based utility of the RP Sanjiv Goenka Group, established a record 7th straight win at the P SHmay ENERTIA Awards. The sustained performance of 'CSEC Ltd.' on an Overall basis as the 'Best in Class' - Urban Utility in terms of Power D i s t r i b u t i o n , Tr a n s m i s s i o n & Generation; Adopting SMART Grid Technologies including IT, SMART Metering Solutions, etc. is well acclaimed fact as covered and reported by ENERTIA in the past as well. CESC is amongst the few and the only Eastern DISCOM overall to achieve below 10% T&D losses and operates in a complex environment, delivering 24 x 7 uninterrupted power in the City of Kolkata.

With Distribution licences now spread across Kolkata (West Bengal), NOIDA (U ar Pradesh), Kota, Bharatpur & Bikaner (R ajasthan) and Malegaon (Maharashtra), the CESC Limited (RP Sanjiv Goenka Group Enterprise) today is the most proli c private sector utility of INDIA. Customer Service at CESC Limited With its vision to build an Organization commi ed towards Customer Centricity, CESC is focused towards providing best in class services to its 3.4 million Consumers. Over the years, the Company has sought to achieve this through innovative processes backed by eﬀective deployment of new technologies and specialized manpower across platforms such as Web, Mobility solutions and communication through various Social Media Channels, like Facebook , Tw i er, L inkedI N and Instagram. Over years, several measures were initiated to strengthen Customer and enhance Customer value, aimed at both Consumer Households and Businesses. Some of the key initiatives are discussed below :

New Connection : CESC added around 65000 Consumers to its network during 2019-20. e average time taken to provide a new connection is 1-2 days. Moreover, where premises have an existing connection, supply typically starts within 24 hours of compliance including payment. e entire application process is online, which has been simpli ed for the ease and convenience of the applicants. Billing and Payment : CESC already has a bouquet of easy and user-friendly avenues for online payments, such as Mobile Wallets, Debit / Credit Cards, Net Banking, Auto Pay, ECS, NEFT / RTGS, BharatQR and UPI, which covers all major Payment Technologies and solutions. All LT Co n su m er s are a l read y A u to Registered for NEFT / RTGS and the Unique Account details are printed every month on their Monthly Consumption Bills. Presently, almost 63.05% of LT Consumers were making online payments accounting for 55% of the Revenue. Customer Contact : e Company's Centralized 24x7 Call Centre, which acts as the primar y touch point for all

MARCH 2021 – RPO & CLIMATE EQUITY

Impact Feature – Best Power Utility

Complaints and Queries, also caters to HT Customers. All calls to the Call Center are g uided through Interact ive Vo ice R ecording (IVR) System, and are docketed and routed to the concerned department for quick resolution. Engagement levels on CESC's Social Media Pages are on an increasing trend. e Chatbot (E-Buddy), equipped with Arti cial Intelligence, Machine Learning & Na t u r a l L a n g u a g e P r o c e s s i n g capabilities, has become an eﬀective tool to provide digital assistance to consumers regarding their queries and requests. It provides quicker and easier online solutions to Consumers and makes interacting with CESC a hassle-free and

delightful experience. e Chatbot also supports Speech Recognition & Speechto-Text Capabilities. It is integrated on platforms such as CESC Website & CESC Mobile App. HT Consumers have also availed special service like free diagnostic testing service of their installations. CESC continues to be in touch with all its Consumers through various Meets, Workshops and Stalls at important Events. e 'Key Account Manager' initiative launched to look a er Large & Important Accounts which are critical to Business, is continuing successfully. Ms operate as Single Point of contact for these Important Consumers. Supply Interruptions : Various steps have been taken by CESC over the years to ensure reliable supply and quicker

MARCH 2021 – RPO & CLIMATE EQUITY

restoration. Its 24x7 LT Control Room, manned by Engineers and placement of radio-linked and GPS-enabled mobile service vans at strategic locations have helped it in restoring supply faster. Use of Field force automation has also improved the eﬃciency of operations. To ensure immediate restorat ion of Cr it ical Installation in the event of any Fault, CESC has adopted Self-Healing Technology through automation. E-Services : Popularising usage of the bouquet of e-services has been an ongoing process, to enable and encourage to avail services from the comfort and safe con nes of their home or workplace. All Web-Application Modules have been

simpli ed for ease of Consumers. e Chatbot (E-Buddy) provides interactive assistance to Consumers regarding the Eservices. Penetration of E-services has increased substantially during the Year. CESC's Environmental Initiative : As a responsible Corporate Citizen, CESC has embarked on an initiative of contributing towards making the city of Kolkata and Howrah a Cleaner & Greener place to live in. In its endeavour to adopt a Clean Fuel for Transportation, it has already set up Electric Vehicle Charging Stations at CESC House and at various prominent locations in the City. Consumers through var ious Communications, such as Emailers & Social Media and at Events like Stalls at various Fairs and Platforms, have been requested to embrace Clean

Technologies in their daily household usage like Electric Cooking, Air Puri ers, Star rated Air Conditioners (AC), Geysers & Refrigerators. Operations during COVID19 : In spite of Safety considerations & Lockdown Guidelines, CESC has maintained 24x7 Uninterrupted Supply, Call Centre Services and Breakdown Operations at usual Service Levels. is was achieved through de-centralized operations and constant realignment of the SOPs, in order to ensure Social Distancing Norms and all COVID protocols. For Call Center Agents, Work-from-Home facility was provided through VPN and So Phones. For Ms and other Oﬃcials were in

c o n s t a n t to u c h w i t h Co n s u m e r s , providing requisite assistance on CESC ma ers. Regular Communications have been sent through SMS, Email, Newspaper and TV Advertisements, to Consumers regarding CESC 's ser v ices dur ing Lockdown. WhatsApp Bot : During Lockdown and subsequent turmoil period, Digital Services were more in demand. Hence, CESC launched the corporate version of WhatsApp Bot services. Anybody can save the Number 7439001912 and send a "Hi" to establish immediate contact with CESC for all sorts of Billing and Supply-related assistance. (Customer Services aspects contributed by Arijit Basu, General Manager - Customer Relations)

RE Power PSE – NHPC

Shri A.K. Singh, CMD, NHPC handing over dividend payout advice to Shri R.K. Singh, Hon’ble Minister of State (Independent Charge) (Power and New & Renewable Energy) & Minister of State (Skill Development and Entrepreneurship), Government of India in the presence of Shri Alok Kumar, Secretary (Power) Government of India, Shri S.K.G. Rahate, Additional Secretary (Power) Government of India, Shri Tanmay Kumar, Joint Secretary (Hydro), Ministry of Power and Shri N.K. Jain, Director (Personnel), Shri R.P. Goyal, Director (Finance), Shri Biswajit Basu, Director (Projects) and Shri H.S. Puri, Chief General Manager (Finance) om NHPC.

NHPC – Making huge strides in Renewable Energy Portfolio with Hydropower and Solar for the Future Clean and Green Energy Leadership NHPC Ltd won the “Best Performing P S E” Award f o r e x cel l en ce i n 'HydroPower & Renewable Energy Sector' at the P SHmay ENERTIA 13th Awards. e Mini Ratna Category I PSE of the Government of INDIA with 7.07 GW of Capacity Index, 24 Hydroelectric Power Station Assets is INDIA's largest Hydro Renewable entity and is now expanding into SOLAR with 102 MW capacity installed, 2,000 MW under execution projects and 6.5 GW of Solar Projects outlay in planning. NHPC has demonstrated in the past its sustained Performance and Delivery of Projects in the HydroPower Sector.

Led by its Chairman and Managing Director, Abhay Kumar Singh, NHPC is today looking at expanding its portfolio both in the Hydropower Sector as well as seeking new opportunities in Renewable Energy. With a 6.5 GW of traction for Solar Projects, it is the leading Public Sector Enterprise in the Solar Renewable arena as well. With its wide spread of hydro assets NHPC has an advantage to approach newer areas too w ith remote area economic potentials and one of them being Bio-Energy through Agro waste based conversion. Hydro, however, will cont inue to remain the masthead Renewable Energy in the future as well due to its high availability factor (58% +) and

plug-n-play exibility of operation of Hydropower stations. Not to mention that INDIA has potentially 100 GW of P u m p e d Sto r age c a pac i t i e s l y i ng unexploited and NHPC remains the top entity that can change this scenario and deliver the strategically critical Pumped Storage, which shall make the Grid more reliable in the advent of greater capacities of in- rm power of Solar and Wind, in particular. NHPC has paid an Interim Dividend of Rs. 890.85 crore to Government of India for the nancial year 2020-21 on 5th March 2021. NHPC had already paid Rs. 228.06 crore to Government of India during the

MARCH 2021 – RPO & CLIMATE EQUITY

RE Power PSE – NHPC

current scal 2020-21 on account of nal dividend for the nancial year 2019-20. us, NHPC has paid total dividend of Rs. 1118.91 crore to Government of India during the nancial year 2020-21. Board of Directors of the Company in its meeting held on 11th February 2021 had declared an interim dividend at the rate of Rs. 1.25 per Equity share i.e. 12.50% of the face value. NHPC today has seven lakh shareholders (approx.) and total interim dividend pay-out for the nancial year 2020-21 worked out to Rs 1255.63 crore. e Company had paid an interim dividend of Rs. 1.18 per share with total out ow of Rs. 1185.31 crore for the nancial year 2019-20 in addition to nal dividend of Rs. 0.32 per share with total out ow of Rs. 321.44 crore. us, total dividend of Rs. 1.50 per share with total out ow of Rs. 1506.76 crore had been paid for the nancial year 2019-20. In terms of Department of Investment & Public Asset Management (DIPAM) Guidelines dated May 27, 2016 on Capital Restructuring of CPSEs, each CPSU would pay a minimum annual dividend at the rate of 30% of PAT or 5% of Net worth, whichever is higher. In line with the ibid guidelines, NHPC had paid total dividend of Rs. 1506.76 crore i.e. 5.03% of net worth of the Company for the nancial year 2019-20. NHPC had earned net pro t of Rs. 2829.16 crore for the nine months ended FY'21 as against the previous period

MARCH 2021 – RPO & CLIMATE EQUITY

corresponding gure of Rs. 2624.26 crore. e Company had earned net pro t of Rs. 3007.17 crore for the nancial year 201920. NHPC took over Jal Power Corporation Ltd. which is developing a 120 MW Rangit Stage-IV Hydroelectric Project in the State of Sikkim. e Company is currently undergoing Cor porate Insolvenc y Resolution Process (“CIRP”) which was initiated on April 09, 2019 vide an order of Hon'ble NCLT. PFC (Power Finance Corporation) and PNB (Punjab National Bank) are the

nancial Creditors. NHPC'S Resolution Plan was approved by Hon'ble NCLT vide order dated 24.12.2020 and uploaded at NCLT website on 07.01.2020. e award cost of the Project approved by Hon'ble NCLT is Rs. 165 Crore. Investment approval of Government of India conveyed on 30.03.2021 for acquisition and execution of balance works of Rangit-IV HE Project, 120 MW with estimated cost of Rs. 938.29 Crore at October, 2019 price level. e balance works of the project will be completed in a period of 38 months.

Hydro Vision

In this Exclusive interview to ENERTIA, ABHAY KUMAR SINGH, the dynamic Chairman & Managing Director of NHPC Ltd. speaks on various challenges of Hydropower development, the Leadrship of NHPC in the sector and his Vision & Mission for its Futuristic growth and expansion, as well as that of Hydropower sector in INDIA, Bhutan & rest of SAARC

Interview of Shri A. K. Singh Chairman and Managing Director, NHPC

Q During the great Former Prime Minister, Atal Bihari Vajpayee's time, the Hydropower share was 27.1% of the National Power Generation Mix (NPGM) in 20032004. What in your opinion could be strategic direction to reach that level (+25%) over the coming decade? Our countr y i s endowed w ith enormous exploitable and

economically viable hydropower potential of 1,48,701 MW out of which only about 41423 MW has been developed so far and 11093 MW is under development. If we include the pump storage projects also, then hydropower generation capacity is around 46209 MW, a mere 12.2% of total installed capacity of India 379130 MW from all sources. Hydro's share in terms of generation is around 11%. Hydropower projects were the engine for development in the country for the be er part of the last centur y. However, for last several decades Hydro Power Projects went oﬀ the radar due to various reasons and did not get the a ention essential for its accelerated development. is is the main reason that its share in overall installed as well as generation capacity has fallen.

Now, with increased preference of humanity towards green & sustainable energ y sources the spotlight is on renewable energy sources including Hydropower. To achieve +25% level in generation mix, Hydropower Projects would need support through regulatory as well as legislative measures. Recently, we have witnessed a lot of initiatives from government for development of hydro power projects. Of late, some of the State Govts have agreed to extend bene ts like GST waiver, staggered free power etc. in o r d e r t o m a k e H y d r o Ta r i ﬀ competitive. Additional legislative measures need to be introduced in order to reduce the time required for obtaining statutory approvals and to insulate the Project Development from legal proceedings, once all the clearances have been granted by Govt.

MARCH 2021 – RPO & CLIMATE EQUITY

Hydro Vision

Q How can INDIA plan to reach 100 GW+ of Hydropower from present 46 GW? Can the timeline for this target of 100 GW Hydropower be achieved by 2030 at least? e ambitious target of achieving +100 GW of Hydropower in INDIA can only be achieved by targeted focus on North East Region, which has total Hydro Potential of around 59 GW & 93% of it is still untapped. Further, the focus should be on the development of big Projects like Dibang 2880 MW, Upper Siang (~10,000MW ), Sawalkot (1856MW) etc. Q Hydro Energy Generation is a byproduct of Storage Hydro. How can India return to this Development Model with Water Resources as Principal Component of Hydro Development for Storage Reservoir based Projects? In a country with population of more than 1.35 billion and having a decadal growth rate of 12.5% (2011-21), land is going to be a scare resource. erefore, conventional Storage Hydro Power Projects like Bhakra, Nangal, Nagarjun Sagar, Hirakund etc. may not be a feasible option in today's time except for the projects located in unhabituated region with minimal displacement. Run of the River Projects with diurnal storage can be a viable option. Hence, priority should be to develop Run-of the River Hydro power Projects and Pumped Storage Projects. Q INDIA's Pumped Hydro Storage potential is a massive 90-100 GW. is is critical for sustenance of the Power Sector. Your views on the same? ere is no doubt that our country has enormous potential for Pumped Hydro Storage. Accelerated integration of Variable Renewable Energy i.e. Solar & Wind Capacity in the system has posed challenges to its reliability. Although, theoretically Pumped Hydro Storage oﬀers the best solution, so far a viable running model

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is yet to be witnessed in current tariﬀ / market scenario. PSPs will need special polic y inter ventions to complement the Solar / Wind for intermi ency and peak power needs. Q What is present status of 2000 MW Lower Subansiri Hydro Electric Project of NHPC in A ssam (ENERTIA has made quite a lot of the Representations to the Hon'ble Prime Minister, Narendra Modi ji for the revival of this “Flagship Hydropower Project of the North Eastern Region(NER) in INDIA”)? What is the future recourse for the same and what is the scope to unleash the 50-60 GW HydroPower potential of North Eastern Region (especially Arunachal Pradesh, Sikkim, Meghalaya and Assam combine). e work on all the components of Lower Subansiri Project is going on at full pace. We are targeting to complete the 2,000 MW Subansiri Lower project by 2022-23 in phased manner. As far as exploiting the untapped potential of North East Region is concerned, NHPC being the leading hydro power developer shall have to play an important role in achieving this objective. NHPC is prospecting for new Projects of combined capacity of around 5000 MW and is also

associated in the Internal Commi ee of GoI for actualization of Siang Basin Projects. Q NHPC has the potential to lead the Hydropower resurgence and revival. How is the direction proposed under your leadership? What are the new Projects NHPC is involved in; in which Regions and River Basins including Capacity/Portfolio of the same in MW terms? Now, NHPC with forays in Solar with 6.5 GW of outlay also is progressing in other areas of Renewable Energy. How do you see this future of NHPC as INDIA's Renewable Energy leading PSE? We have the expertise for developing Hydroelectric Projects, right from the conceptual stage to its commissioning and operation. Till date NHPC has successfully commissioned 24 Power Stations as “Owner/JV mode” with an aggregate installed capacity of 7071.2 MW. ese include the 50 MW each utility scale 01 Solar Power Project & 01 Wind Power Project. In addition, NHPC has executed 5 Hydroelectric Projects with an aggregate installed capacity of 89.35 MW on “Deposit Work / Turnkey Basis” including 14.1 MW Devighat HE Project in Nepal & 60 MW Kurichu HE Project in Bhutan.

Hydro Vision

background of the fact that with 58% Energy Conversion, Hydropower is way ahead of Solar and Wind and is an exclusive Spinning Reserve or Peak Saving Power Resource, Also Hydro Asset life-cycle can reach 75-100 years or more when compared to Solar, Wind etc. that are 25-30 years lifecycle assets. What is your take on the ma er?

Presently, NHPC is engaged in construction of 6 Hydro Projects with an aggregate installed capacity of 5044 MW on Ownership/Joint Venture /Subsidiary basis. Out of these, 800 MW Parbati-II H E Project is in River Parbati in Himachal Pradesh, 2000 MW Subansiri Lower is in Subansiri River while 624 MW Kiru H E Project and 1000 MW Pakal Dul H E Project are in Chenab Basin and 500 MW Teesta-VI Project and 120 MW Rangit-IV H E Projects are in River Teesta and R angit respectively. Projects with proposed capacity of more than 10000 MW are in various stages of appraisal process. We want to achieve the target of 12000 MW hydro installed capacity by 2025. NHPC is also providing consultancy services in the area of Hydropower Engineering to various clients in India and abroad. A s a business diversi cation endeavour, NHPC is actively engaged in enlarging its Renewable Energy footprint in the country in all forms. We were able to successfully conduct the e-reverse Auction of 2000 MW solar capacity under ISTS solar project scheme during the lockdown period. We are work ing on se ing up renewable energy projects with Telangana, Odisha, U ar Pradesh and Rajasthan. We have already signed a MoU with Green Energy

Development Corporation of Odisha for the development of 500 MW oating solar power projects in Odisha under UMREPP. Further, NHPC through its JV company- Bundelkhand Saur Urja Limited ( BSUL) is planning capacity addition of 215 MW in coming two years in the state of UP. ese projects include Solar Power Projects at Kalpi (65 MW), Madhogarh (50MW) & Mirzapur (100MW). Award le er for 65MW Kalpi has been issued recently and 100 MW Mirzapur SPP is under tender process. BSUL is also planning to develop 1200 MW Solar Power Project in UP under UMREPP, subject to availability of suitable size of land from UP govt. NHPC has planned to add 10000 MW Solar Power under the various schemes of MNRE in addition to hydro capacity addition of 5000 MW by 2025. Q Now more or less there is an acceptance post ENERTI A & R E PA ( R e n e w a b l e e n e r g y Promo t i on A sso c iat i on) canvassing for Hydropower over the last decade or so to be totally considered as Renewable, But what are the real ground incentives to move it in the same way to make it go in the direction of recent success of Solar and Wind, especially in the

Developing hydropower Project is multidisciplinary and multi authority enterprise where active and eﬀective involvement of State Govt. is an utmost requirement. Water is a state subject while electricity is concurrent one, therefore taking State Govts. on board as w illing and proactive partners is essential for revival of the sector. is can be done through project speci c steering commi ees comprising of oﬃcials from central as well as state Govts. Also, the clearance processes can be further eased up and long term so loans should be made available to the developers Q What about presence of NHPC in BHUTAN and future possibilities in other Asian Countries such as Myanmar, Vietnam, Afghanistan, etc. We are open to the idea of exploring hydropower project opportunities in Nepal and Bhutan. To this end NHPC has already signed a Memorandum of Understanding with Hydropower Invest m ent an d Devel o p m ent Co m p a ny L i m i t e d , Ne p a l f o r developing hydropower projects in Nepal. A s y o u a re aw a re w e p ro v i d e consultancy services in Hydro power covering the whole spectrum right from concept stage to commissioning. We have prov ided consultanc y services to neighboring countries like Bhutan and Myanmar as well as to Tajikistan, Nigeria and Ethiopia. We were the design consultant for the recently commissioned 720 MW Mangdechhu H. E. Project in Bhutan. I am proud to say that we have happy clients.

MARCH 2021 – RPO & CLIMATE EQUITY

Hydro Buzz - SAARC

SJVN bags 679MW Lower Arun Project in NEPAL

Nand Lal Sharma, Chairman & Managing Director SJVN ( Satluj Jal Vidyut Nigam) Ltd, has a good News for INDIA that the Government of NEPAL has allo ed the 679 MW Lower Arun Hydro Electric Project in Nepal to SJVN through competitive bidding. e Investment Board of Nepal in its meeting on 29th January 2021, chaired by Hon’ble Prime Minister of Nepal, K P Sharma Oli has declared awarding of the Arun Hydroelectric Project to SJVN. Nand Lal Sharma, Chairman & Managing Director, SJVN met the Hon’ble Prime Minister of Nepal, K.P. Sharma Oli, in Kathmandu. Nand Lal Sharma expressed his deepest gratitude to the Hon’ble Prime Minister for awarding the Lower Arun Hydro Electric Project to SJVN and assured the Prime Minister that project will be completed in a time bound manner. Nand Lal Sharma informed that SJVN has obtained the Project through International

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Competitive Bidding, a er competing with various international companies including from China. e Lower Arun Hydro Electric Project is located in Sankhuwasabha and Bhojpur Districts of Nepal. On completion 679 MW Lower Arun Hydro Electric Project will generate 3561 million units of electricity per annum. N L Sharma, CMD, SJVN, further stated that the Projects being developed by SJVN i n Ne p a l w o u l d r e s u l t i n o v e r a l l development and boost mutual economic growth in India & Nepal. He said that the Infrastructural Development related to project activities would ensure overall

socio-economic development of the region. SJVN is already constructing 900 MW Arun 3 HEP in Nepal and 217km 400 kV associated transmission system. With addition of Lower Arun Hydro Electric Project to its ki y, SJVN portfolio now stands at 8960.5 MW SJVN’s present installed capacity is 2016.51 MW and aims to be 5000 MW company by 2023, 12000 MW Company by 2030 and 25000 MW Company by 2040. SJVN has presence in various sectors of energy generation which includes Hydropower, Wind, Solar & ermal. e company also has presence in the eld of Power Transmission. **Source : Energy Business Wire (EBW), Enertia Journal & PSE Post

Hydro Construction Watch

AFCONS – INDIA’s No. 1 Construction Infrastructure Company, now poised to Partner INDIA and BHUTAN in the Hydropower Growth AFCONS INF STRUCTURE LIMITED (AFCONS) is the “WINNER” of the Prestigious National Awards “ATAL SHAST M ARKENOMY - BEST INF CO in INDIA” (ATAL Tunnel & O t h e r M a j o r I N F ) a n d “ATA L SHAST MARKENOMY - BEST Water Resources INF ” (Annaram Barrage on G odavar i R ive r) at the 6 th ATA L SHA ST M ARKENOMY Awards 2020. AFCONS is INDIA's leading Topmost Construction Company with major infrastr ucture contribution to the INDIAN Economy and the INDIA Development Saga over the Decade and delivering Projects of National signi cance both within time and cost factors. AFCONS commands a US 300 Million eet of Strategic Equipment and has presence in over 24 Countries covering ASIA, AFRICA and Middle East. It is the

13th Global Best Company in the Bridges Sector and the 9th Largest in Marine and Port with around 9 Tunnels and Hydro Works to their credit and have executed over 45+ Overseas Project successfully and has been also certi ed as a 'Great Place to Work' by Independent Agency in 2018. e recent achievements of AFCONS are quite remarkable over the last decade. Delivery of the 9.02 km long ATAL Tunnel (named a er the former Prime Minister of INDIA, Late Shri Atal Bihari Vajpayee), Rohtang Pass, at EL.11,000 feet and Kolkata Metro Rail Tunnel (1st ever under river tunnel in INDIA) are recent examples. Further, AFCONS recently completed One of INDIA's largest Barrages (Annaram Barrage) on Godavari River (one of the largest rivers of INDIA in the

South) of length 1.27 kms long with 66 radial gates of size 15 m x 12.3 m, with construction of hoisting arrangement and including formation of guide bunds on either side of the barrage in record time of 28 months. AFCONS performance and build-up of the Annaram Barrage has been appreciated both by the Government of INDIA and the State Government of TELANGANA. At the Kol Dam Hydro Electric Project (4 x 200 MW) in Himachal Pradesh, AFCONS scope of works covers 163 m ro c k l l d am , s p i l l w ay, d i ver s i o n structures, desilting arrangement and surface power house of capacity 800 MW (400 MW x 2) for Client, NTPC Limited. e project utilised a surface drop of 140 m. Recently, AFCONS, was amongst the top quali ed responsive bidders for project the 600 MW Kholongchhu Hydroelectric

MARCH 2021 – RPO & CLIMATE EQUITY

Hydro Construction Watch Project of the Kholongchhu Hydro Energy Limited (KHEL), which is a Joint Venture Company between DGPC, Royal Government of BHUTAN (RGoB) and SJVN, Government of INDIA (GoI). AFCONS has bid for the Contract Package KC-1 - Construction of River D i ve r s i o n Wo r k s , Da m , In ta ke, Desilting Arrangement and HRT from RD 0.00 m to RD 2303.00 m including Construction of Adit-I of Kholongchhu Hydroelectric Project (600 MW), Trashiyangtse, BHUTAN.

S PA MASIVAN, Managing Director, AFCONS, with the Lifetime Achievement Award adjudicated by the Eminent Jury of the Prestigious '6th ATAL SHAST MARKENOMY Awards 2020'.

e MoU for Joint Venture for the Project execution is w ith Constr uction Development Corporation Limited (CDCL), for subcontracting Adit-1 and HRT Works. e AFCONS MoU with CDCL is seen by AFCONS as Long-term A s s o c i a t i o n / Wo r k i n g P a r t n e r relationship for other upcoming Project Bids in BHUTAN which the company is very keen and commi ed to go for. AFCONS is part of the US $ 7.5 Billion Shapoorji Pallonji (SP) Group, which has a legacy of over 150 years and has contributed immensely to the build-up of I N D I A's i n f ra s t r u c t u re eco n o my. AFCONS itself is a US $ 1.25 Billion entity and with its mo o of “Extreme Engineering & Construction” and track record to match it is by far INDIA's top most Construction Infrastructure entity in the Private Sector domain.

MARCH 2021 – RPO & CLIMATE EQUITY

BIO FUEL

Evonik’s Membrane Technology supports the Indian Government Initiatives to develop Renewable Energy and Ensure National Energy Security

Biogas is an eco-friendly energy source that is becoming increasingly important in today ’s Green/R enewable Energ y parlance. Biofuels (including Compressed Biogas or CBG) are impor tant components of India’s future green energy mix, as outlined in the Government’s 2018 Sustainable Alternative towards Aﬀordable Transportation (SATAT) scheme. Un d e r t h e S ATAT i n i t i at i v e, t h e Government of India envisages se ing up of 5000 compressed biogas (CBG) plants by 2023-24 with a production target of 15 million tonnes, facilitating new employment opportunities and enhancing farmers' income towards invigorating the

rural economy. e initiative is in line with the goals of Aatma Nirbhar Bharat, Swachh Bharat Mission and boosting MSME sector. Sustainable Biogas Systems are being regarded as key step to promote circular economy between Municipal Solid Waste and Industrial/Agricultural Waste Management Systems. CBG being an environment-friendly fuel with the potential to reduce greenhouse gas emissions by 98 per cent, will help support the country in minimizing dependency on fossil fuels. However, an extensive upgrading and puri cation process is required before

biogas can be fed into the natural gas grid or used as biofuel. New and highly selective polymer-based membranes under brand name “SEPU N Green” from Evonik convert raw biogas simply and eﬃciently into highly pure biomethane. is increases yield and conserves valuable resources. Highly selective membranes Evonik has developed a biogas upgrading process that makes best use of the membranes' separation properties: rough skillful connection of SEPU N® Green membranes it is possible to obtain methane with a purity level of up to 99% from the raw biogas.

MARCH 2021 – RPO & CLIMATE EQUITY

BIO FUEL

SEPU N® Green membranes have the highest CO2/CH4 selectivity and are therefore a superior technology for upgrading biogas. is selectivity of the membranes enables the production of high purity biomethane with superior methane recovery. is distinguishes the Evonik membranes technology from other traditional technologies that are available. SEPU N ® 6Green Membrane Technology advantage SE P U N G reen tec h n ol og y ha s substantial advantages over other common separation methods such as “Pressurized water scrubbing”, “Pressure swing adsorption” and “Amine scrubbing”. ese technologies need comparatively large amounts of energy as well as auxiliary materials and chemicals. Wastes and wastewater are generated that must be treated and disposed of. Further, the biogas a er upgrading is usually at low pressure. Bene ts of SEPU N® Green membrane technology from Evonik Ÿ Best price performance of all biogas puri cation technologies Ÿ High methane yield of up to >99 % and high purities >99% (patented 3-stage process) Ÿ Gas uctuation allowed range (0 to 100% capacity) Ÿ Highest energy eﬃciency (~ 0.2 kWh/Nm3 raw biogas) Ÿ Easy to operate, li le maintenance –

easy start & stop Biomethane provided at system pressure (16 Bar), dry and in pipeline speci cation Ÿ No chemical use and no waste water Ÿ Easy to scale up – containerized system Ÿ

M o r e o v e r, t h e S E P U N G r e e n technology oﬀers the puri ed CBG to be fed directly into Gas grid in future as it oﬀers consistent quality of biomethane. SEPU N Green technolog y can han d l e mu l t i p l e feedstock options such as Agricultural waste (e.g. paddy straw), Press mud from Sugar industry, Ca le dunk, Po u l t r y w a ste, Munic ipal Sol id Wa s t e ( M S W ) , waste water treatment plants and Land ll.

SEPURAN Green

Biogas Plants with SEPU N® Green ere are around 400 references of biomethane units worldwide in operation with SEPU N® Green for eﬃcient biogas

SEPURAN

MARCH 2021 – RPO & CLIMATE EQUITY

processing including Indian Subcontinent. Two biogas generation plants, in Nepal a n d In d i a , a r e c o m m i s s i o n e d o n SEPU N® Green membrane technology and many more projects are in pipeline. Our Sepuran Green delivers consistently high biomethane quality with over 99% based on our 3-stage patented process. is means that almost all methane is obtained in bio natural gas quality.

Green: Process

Power PSE in NEWS

GURDEEP SINGH CMD

NTPC Delivers Electrifying Performance in Fy21 Generates Gross 314 Bus in FY20-21

I N D I A's largest i nteg rated Powe r Generation Asset Company, NTPC Ltd recorded its highest ever group generation of 314 BU in FY 21, a growth of 8.2% compared to prev ious year. On a standalone basis, NTPC generated 270.9 BU in FY21, an increase of 4.3% over the previous year. NTPC Group recorded highest ever single day generation of 1192.42 MU (Group) & 990.65 MU (NTPC). e coal plants reg i stered a P L F o f 6 6 % w i t h an Availability factor of 91.43%. In another feat, Singrauli Unit-1 in U ar Pradesh, rst and the oldest Unit of NTPC which was commissioned 39 years ago and Korba Unit-2 in Chha i sgarh,

commissioned 37 years ago have achieved more than 100% PLF (Plant Load Factor). e stellar performance of Singrauli and Korba Units is a testimony to the expertise of NTPC Engineers, Operation & Maintenance practices and NTPC systems. NTPC also realized 100% of the billed amount from the DISCOMs and for the rst time, realization crossed Rs. 1 Lakh Crore. e total installed capacity of NTPC Group increased by 5.96% to 65810 MW with 4160 MW of capacity addition in FY21. On a standalone basis, NTPC Capacity increased by 4.03% to 52385 MW.

Along with power generation, NTPC has also ventured into various new business areas like E-Mobility, Waste-to-Energy and participated in the bidding for power distribution of Union Territories. NTPC is also actively exploring Green Hydrogen solutions and captive industries in its plant premises. NTPC Group has 70 Power stations including 26 Renewable projects. e group has over 18 GW of capacity under co nst r u c t i o n , i n c l u d i ng 5 G W o f renewable energy projects. Uninterrupted supply of electricity through environmentfriendly energy projects at aﬀordable prices has been the hallmark of NTPC. NTPC is striving to achieve highest reliability and eﬃciency keeping safety

MARCH 2021 – RPO & CLIMATE EQUITY

Power PSE in NEWS

and environment issues on top. With global shi in energy space, NTPC is increasingly emphasising on ESG and changed its focus to renewable for future growth while improving on sustainability matrix. Sustained eﬀorts are underway for transforming into an Integrated Energy Company. In another development, NTPC Ltd was conferred the prestigious 'Role Model' Award at the 11th CII National HR Excellence Award 2020-21. CII National Commi ee Chairman on Leadership and HR, Sanjay Behl, presented the award, along with Ms. Indrani Kar, Head of CII's Suresh Neotia Centre of

Excellence for Leadership to Shri D.K. Patel, Director (HR), NTPC Ltd., in the virtual conference “Learn om the Achievers” held amidst senior leaders from the industry and HR assessors. is award is the highest level of recognition in the eld of Human Resources by Confederation of Indian Industry (CII). Since the institutionalisation of CII National HR Excellence Award, this is the only the second time when the award of 'Role Model' has been conferred to any Organization. Further, this award has been given to any organization a er a hiatus of 10 years. Signi cantly, NTPC is the only

PSE to have received this Prestigious Award. is reinforces NTPC's un inching commitment towards achieving excellence in development and management of Human Resources through continuous process improvement, engagement and learning and development opportunities. e successful implementation of HR practices is undoubtedly due to the untiring eﬀorts and adherence to laid down norms by all employees of NTPC and commitment of the senior management that focuses on holistic development and well-being of employees and stakeholders. (Source NTPC)

MARCH 2021 – RPO & CLIMATE EQUITY

RE Mobility

EVS (Electric Vehicles) Fleet Increase Could End-up Pushing Greater Consumption of Coal Based Power Sans Renewables ere has of late been greater stress on adopting EV (Electric Vehicle) Fleet expansion for even public transport led by the initiatives of Hon'ble Chief Minister of Delhi, ARVIND KEJRIWAL. While it is a laudable move per se there are ip side of a “EV only” (standalone) strategy to drive RE-Mobility. In this direction, Federal (Central) and Provincial (State) Governments in INDIA must Ensure EV's do not end up moving up consumption of Coal based ermal Power, which will be the case as Plant Load Factors on GRID will only come via the Coal based Power Generation Capacities presently lying underutilised with average net oﬀ-take from conventional and renewable sources hovering at 175 GW of National Gross Installed Capacity of 375 GW potentially capable of delivery on to the Indian Grid at Gross PLF of 70% + (Ultra Mega Super ermal and Super Critical ermal Power Plants can generate at high PLFs of 90% +).

Reason for that is in Power Generation terms 60-65% of share of Electricity generated is still coming via ermal Coal Power and the Expansion of PLF (Plant Load Factor) is only possible there via NTPC whose capacity utilisation has fallen to 58%-66% range from its 85-90% Operational Feasibility Levels for PLFs . Whereas, SOLAR and other RE can only give 20% Conversion Eﬃciency on GRID supply and remain in rm sources. Only Hydropower can give 58% Conversion Eﬃciency, due to High Availability Factor & Plug-n-Play with option which is also available from Gas based Power. But most of Hydropower generated from storage reservoirs have the Water Resources objective as the First priority with Power Generation being a by-product. Whereas, RoR (Run-of-the-River) Hydro Projects, are purely the Hydropower Generation Assets with exibility to operate in continuous generation mode and also be used as “Spinning Reserves”.

So, consumption of Grid Electricity by EVs will only enhance Carbon Emission as instead of Diesel we shall burn alternatively more Coal.

So, unless the pol ic y maker s and implementing agencies work on dedicated SOLAR Powered & Ba ery Backed Large C h a r g i n g S t at i o n (s) , S t a n d a l o n e

Infrastructure, away from GRID based Consumption, EVs are not such a Great idea, since in normal situation of GRID Powered Charging, it is simply shi ing the loads to ermal Coal Power for Powering Electricity to BLDC drives in EVs versus the other option available of direct IC Engine Combustion of Fossil Fuels (Diesel, Petrol etc.). is is in the background that the same IC Engines can be converted into Bio-Diesel ( Jatropha) combustion adaptation or alternatively Bio-CNG (BioMethane) combust ion through retro ing of the present conventional combustion Fuel Injection System and adaptation of engine design to Bio-Fuel alternatives. In fact, Government(s) must focus on Hybrid Strategy of Bio-CNG & Bio-Diesel Powered Vehicles along with SOLAR Powered Charging Stations for EVs. For w hich abundant Bio - CNG can be produced from Agro Waste resulting in establishing Bio-CNG Stations too. Eﬃcient Waste to Bio-CNG conversion technology are available and the further course towards a Hydrogen Future (Hydrogen Fuel Cell powered RE Mobility) lies in the adoption of Bio-CNG in the GAS Economy. (A REPA - Renewable Energy Promotion Association, policy take)

MARCH 2021 – RPO & CLIMATE EQUITY

ENERTIA - REPA Feature

6th IPEC (INDIA Power & Energy Conclave) and “PRAKASHmay 13th ENERTIA Awards” 2020 e “6th INDIA Power & Energy Conclave (IPEC)” & Prest ig ious “P SHmay 13th ENERTI A Awards” 2020 were held in Mumbai on Friday, 18th December, 2020 at the IMC Chamber of Commerce & Industry, Walchand Hirachand Hall, Churchgate, Mumbai – 400 020.

In INDIA the Hydropower potential for the future course lies predominantly in the North-Eastern Region covering the Brahmaputra river basin ecosystem with its tributaries in Assam, the Upper & Lower Subhansiri and those of the Rivers in Arunachal Pradesh, Sikkim, Meghalaya, etc. examples being Siang and Teesta.

e eme for IPEC was Sustaining Energy Economy for doubling GDP of INDIA to US $ 6 Trillion from its US $ 3 Trillion level Circa 2019. at needs INDIA to up-the-ante and double the Power Generation Installed Portfolio & Capacity Index to 750 GW from the present 375 GW with Renewable Energy Portfolio (REPo) to reach 450 GW share by 2024-25. Presently Renewable Energy stands at 142.25 GW (50.5 GW Hydro Energy includes 4.5 GW SHP ; 37 GW Solar ; 38 GW Wind ; 10 GW Bio-Energy and 6.75 GW Nuclear Energy).

Together this potential is upwards of 200250 GW with Arunachal Pradesh alone accounting for 150 GW, Sikkim 70 GW & Meghalaya 30 GW. With Assam and other NE states added to this, the potential could run into 350-400 GW.

e biggest Renewable remains Hydropower with the combined Capacity Index of 50.5 GW with 46 GW of Large Hydro that includes a combination of Storage Hydro Energy, Run-of-River (RoR) Projects and Pumped Hydro Schemes. 30

e other part is the huge Water Resources bene t, that Storage Hydro brings in making it the best long term development proposition. However, for regions that have no access to Hydro, we in INDIA surrounded three sides by Ocean, must also look at the Coastal Zones for both Marine Renewable Energy (MRE) like Tidal Energy, Oﬀ-Shore Wind etc. Not to mention, the potential for Water Resources access through Treatment of Sea Water for Irritation, Potable & Industr y usages. So, here again, a predominant “Water Resources Access”

perspective will enable a well-rounded development of Hydro Resources with Electricity Generation being a by-product of the holistic proposition. Further, the embedded deliberations of “4th GAS Economy 2020” were also held on the day. INDIA has a Gas based Power Generation of 25 GW that more or less remains idle or are starved of Natural Gas Fuel Supply due to priority sector input to Agronomy where Fertilizer production needs the feedstock Fuel of Gas or Naphtha. Most of the Natural Gas supplies thereof going to the Fertilizer production as Feedstock. e future thereof is to nd alternative sources li ke Bio - CNG production from Bio-Waste (Agro, Municipal Sewage Eﬄuent, Bovine Waste Bio-Methanisation etc.). Together with enhancing Gas Grid, exploring sources of natural gas in INDIA, bringing Bio-Fuels (Bio Diesel om Jatropha & such sources), Bio-CNG production via Bio-Methanisation of Organic Waste (Agro, Municipal and other such Bio Wastes) etc. are some of the key futuristic strategies to be combined with MARCH 2021 – RPO & CLIMATE EQUITY

ENERTIA - REPA Feature

A K Singh, CMD , NHPC, receiving Award for NHPC as Best Hydro & Renewable PSE

expansion of Renewable Energy that needs hybrid integrated approach. Here, it is pertinent to mention that only Hydropower and Gas based Power can act as Flexible Plug-in / Plug-Out or Plug-nPlay “Spinning Reserves” that enable Urban and Industrial “Peak-Shaving” in the Electricity Consumption Curve. Peak surges happen in the day and evening peaks when Restaurants, Hotels, Homes, Urban, Industrial Hubs result in sudden surges in the Electricity demand and shi t h e c u r v e No r t h w a r d s i n t o Pe a k Consumption Mode from its Base-Load state, “Peak Shaving” thereof draws from “Spinning Reserves” of ready to enter plants of Hydropower or Natural Gas Power Assets. e onset of E-Mobility with Electric Vehicles (EV) holds a great future too, but again needs hybrid approach with the Hydrogen Fuel Cell powered future. Not to mention the use of Bio-CNG and BioDiesel to retro t Internal Combustion engine for e-mobility that can power our Vehicles, Trucks, Buses, Cars, Scooters & two wheelers in this Hybrid approach. EVONIK Industries GmbH, Germany was the Presenting Partner for the “6th INDIA Power & Energy Conclave (IPEC)” and the concurrent “4th GAS Economy Conclave” 2020 deliberations. “P SHmay ENERTIA Awards – India & South Asia's Awards for Excellence in Sustainable Energy, Power & Renewables” are now held in Memoriam of Late Shri. A . Prakash Iyer, Former Chief Jury

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Vinod Paremal, President, EVONIK INDIA, receiving Award for Renewable Energy Tech Innovation for SEPU N GREEN Bio-CNG Membrane based Patented Technology

Convenor & Co-Founder, ENERTIA Awards; Former Executive Publisher & Editor, ENERTIA, founded by Prof. A G Iyer and Co-Founded by Late Sri P S H I Y E R , a “S P EC I A L LY ABLED” genius who lived the life of a “ RMAYOGI” championing the cause of the Global Movement versus “Climate Change” that poses “Serious Challenges to Health of Nations”.

National Umbrella Organization and Sole Non-Pro t Renewable Energ y Association & Promotional Body for Pro m o t i o n o f R e n e w a b l e E n e r g y (Hydropower, Solar, Wind, Nuclear, BioEnergy, etc.) in INDIA, SAARC and Asia at large and is being organized in Association with “New Delhi Institute of Management ( N D I M ) ”, I N D I A's t o p i n d u s t r y recognized and award winning B-School.

'Falcon Media', Publishers of 'ENERTIA' journal, are the institutor of the prestigious “P SHmay ENERTIA Awards”, in A ssociation w ith “ENERTI A Foundation” (ENERTIA Alliance for Sustainable Energy - EASE) working in the arena of sustainable development of Natural & Earth Resources (Iron Ore, Coal, Mineral Resources & Mining Industry, Gas & Oil Exploration, Production & Licencing); Energy & Power, Infrastructure etc. are together organizing India's pioneering & prestigious award in the Energy & Power Sectors, that were rst given away in the year 2007.

e “P SHmay ENERTI A Awards” are INDIA's topmost, prestigious and pioneering awards a racting leading Power, Renewable Energy (Hydropower, Solar, Wind, Bio-Energy etc.), Natural Resources and are comprehensively spread across excellence in PSEs (Public Sector Enterprises) and Enterprises & Corporations in Private Sector, Utility Excellence, Institutional Excellence, Individual Excellence – POWER Personas and Energy Personas of the Decade & Year, E n t e r p r i s e E x c e l l e n c e i n Po w e r, Renewable Energy , “Make-in-India” Manufacturing Excellence, Technology & Enterprise Innovation and LIFE-TIME Achievement.

Since the institution of this Award, it has grown in stature as INDIA & South Asia's Awards for excellence in Sustainable Energy, Power & Renewables and today the “P SHmay ENERTIA Awards” (formerly “ENERTIA AWARDS”) have become an unmatched one in the Sustainable Energy, Power Infrastructure & Renewable, Clean & Green Resources Sectors.

LifeTime Achievement Awards Went to:

e Conclave(s) are suppor ted by Renewable Energy Promotion Association (REPA) - India's Apex

A K Mishra, Managing Director, Mangdechhu Hydroelectric Project Authority (MHPA), BHUTAN, who was

e “P SHmay 13th ENERTIA Awards” 2020 had 13 impeccable winners comprising 5 Individual Excellence Awards for Personas ; 7 Awards for Enterprise & Utility put together and 1 Best Performing State winner.

ENERTIA - REPA Feature

Rajesh Medira a, Director , IEX receiving the "Best Energy Exchange" Award on behalf of co.

felicitated for his Yeomen Contribution to t h e Sec to r, S A A RC R eg i o n , i n Hydropower and for building the World Class 720 MW Mangdechhu HEP in BHUTAN in record time and competitive cost of around 60 Mn Nu / Rs per MW making it a benchmark excellence project in the region. e 720 MW Mangdechhu HEP dedicated to BHUTAN and exporting Power to the INDIA GRID since August 2019 in the bilateral cross-border treaty between INDIA & BHUTAN, amongst lowest cost project in the South Asian Region for the period and executed in record time under diﬃcult & challenging Himalayan Geological conditions of the BHUMTANG region in Central Bhutan with the nearest town of its Headquarter being Trongsa. Dr R K Gupta, Former Chairman & Managing Director, WAPCOS Ltd. received the Life Time Achievement Award for his Yeomen Service to the Water & Power Sector Consulting and leading the Mini R atna PSE to glor y w ith footprints in 60 countries. Dr R K Gupta led the Mini Ratna Public Sector Enterprise (PSE) to glory with only PSE having footprints in around 60 Countries with major works in the African Continent as well as footprints in neighbourhood BHUTAN and far east Nations. His career spanning 4+ decades saw yeomen contribution to both Power & Water sectors with major contribution to consulting arena in Water Resources. He was the Member of the INDO - BHUTAN

Dr R K Gupta, Former CMD WAPCOS, Lifetime Achievement

Joint Group for Development of 10,000 MW of Hydropower in BHUTAN & also Member of Working Group on Water Saving (WH-WATS) & Eminent Member of International Commission on Irrigation & Drainage (ICID). Rajinder Kaura, Chairman & Managing Director of Bergen Solar Power & Energy Ltd., was felicitated with Lifetime Achievement in SOLAR (Manufacturing) a n d s e i n g u p Wo r l d C l a s s S P V production lines in INDIA. Amresh Kumar, Managing Director, Punatsangchhu Hydroelectric Project Authority 2 (PHPA – II) received the Doyen of the Decade for SAARC Region (Hydropower). He was instrumental in Establishment of Hydro Projects such as 330 MW Kishanganga HEP ( Jammu & Kashmir), 510 MW Teesta V HEP (Sikkim) and 45 MW Nimoo Bazgo HEP Ladakh all commissioned on the Indian Grid as well as associated with the 2,000 MW Lower Subhansiri HEP (Assam), 800 MW Parbati II HEP (Himachal Pradesh) and now Leading the 1,020 MW Punatsangchhu II HEP in BHUTAN. S G Paretkar, Director - Business Unit Head - Hydro & Underground Works, AFCONS Infrastructure Ltd. (Shapoorji Pallonji Group) was conferred with DOYEN of the DECADE for INDIA Region (Hydropower & Water Resources Construction) for the Engineering feat of establishing the Annaram Barrage on Godavari River, in Telangana in record time of 28 Months. He is also the famous Construction

Engineer who completed the recently opened ATAL Tunnel being the longest in INDIA (8 Kms) in the diﬃcult domain of Himalayan Geology across Rohtang Pass terrain in Ladakh. Naresh Ku mar , G e ne ral Manag e r (Corporate Communication), PoweGrid Corporation of INDIA Ltd. received the DOYEN of the DECADE - Corporate Communications & PR in PSEs (Public Sector Enterprises) for his yeomen contribution to the domain of PSE PR & Communication practice. CESC Ltd. won the prestigious award for being “Best Performing Utility in Power Sector – Overall” encompassing Power Distribution, Transmission & Generation. T&D (Transmission & Distribution) losses were a record low of 8.9% while recording highest export of 700 MUs (10% in Million Units of Generation). e Kolkata based utility of the RP - Sanjiv Goenka Group, established a record 7th straight w in at the P SHmay ENERTIA Awards. BESCOM (Bangalore Electric Supply Co. Ltd) won the Award for “Best Performing Utility in the Sector (Power Distribution)”. e State PSE DISCOM recorded AT&C (Aggregate Technical & Commercial Losses) of less than 13% lowest among state level DISCOMs while recording a pre-COVID Revenue of US $ 3 Billion. is was the record 6th time straight win for them. Renewsys INDIA Pvt Ltd (Enpee Group) won the accolades for “Make-inI N D I A” f o r R e n e w a b l e E n e r g y

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ENERTIA - REPA Feature Technology (Solar Manufacturing) for being pioneering integrated manufacturer of Solar PV Modules & key components Encapsulants, Backsheets & Solar PV Cells. IEX Ltd. won the award for “Best Power Exchange in INDIA & South Asia” with 97.2% of Market Share having 6600+ participants, 56 registered DISCOMS, over 500 Electricity Generators, 4200+ Open Aces Consumers & 13%+ annual growth in electricity traded volume with 53.8 Billion Units of Electricity Traded / Transacted on the Exchange. NHPC Ltd was declared winner of the “Best Per forming PSE” Award for excellence in HydroPower & Renewable Energy Sector as the Navratna PSE with 7.07 GW of Capacit y Index , 24 Hydroelectric Power Station Assets is INDIA's largest Hydro Renewable entity which is now expanding into SOLAR with 102 MW capacity installed, 2,000 MW under execution projects & 6.5 GW of Solar Projects outlay in planning. EVONIK INDUSTRIES AG, Germany was the winner of the prestigious award for Research & Tech-Innovation (Renewable Energy - Bio Energy) for its Patented “SEPU N Green” - Tech Innovation for Bio-CNG Production from Waste. State of MAHA SHT won the prest ig ious award for being “ Top Investment Friendly & Infra Excellent State in Sustainable Energy & Power” as the State recorded a whopping 42.5 GW of Power Generation installed Capacity Index with 13 GW of Renewable Energy (10 GW om RE of Wind, Solar, Bio Energy & 3 GW of Hydro Renewable). MAHA SHT has 5.4 GW of Wind Power, 2nd largest in the Country. e Capacity Index of 42.5 GW drives a SGDP (State Gross Domestic Product) of US $ 450 billion making it the top State in SGDP terms ahead of nearest competitor TAMIL NADU at US $ 280 billion. e “P SHmay ENERTIA Awards” are adjudicated by an eminent Jury Chaired by Prof. A G Iyer, Editor-in-Chief, E N E RT I A ; Fou nd e r P re s i d e nt , Renewable Energy Promotion A s s o c i a t i o n (R E PA ) , E N E RT I A Fou ndat i on & M A R K E N O M Y

MARCH 2021 – RPO & CLIMATE EQUITY

A K Mishra, MD, Mangdechhu HEP, Lifetime Achievement ...

Foundation ; Associate Dean & Prof. for Global Business Environment, Public Policy & Government, NDIM (New Delhi Institute of Management) ; A Distinguished Alumni of National Institute of Technology (NIT), Kurukshetra, Haryana and Author of Path Breaking Books – “Powering-in-Crisis A Strategic Direction for INDIA's Energy Security, Energy Sustainability and Power Access for All by 2022” ; “INDI A B NDished - SuperPowering B ND I N D I A 2 0 2 2 ” ; “ B H U TA N B NDished - SAGA of 21st Century KINGDOM DEMOC CY & GNH Economy” and “ATAL SHAST - SAGA of SuvarnaShree, SarvaPriya, Bharat Ratna ATAL BIHARI VAJPATEE - INDIA's Best Prime Minister, Tallest Parliamentarian Ever & a Champion of Liberalism & Pluralism”. Prof Iyer has also authored Several White Papers & reports such as : Ÿ RUSM (R asthriya Ur ja Sour ya M i s s i o n) - I N D I A A S O L A R SuperPower – 100 GW SOLAR by 2022 & Now Expanded to 400 GW SOLAR by 2024-25 ; Ÿ He is the originator of “KUSUM” which was originally conceived by him for “PRO BONO 25 GW+ SOLAR for INDIA's FARM SECTOR”. Ÿ E F ( E n e r g y Fu t u r e s) 2 0 4 7 : Investment for Inclusion (I2), Mitigating “Energ y Poverty” via Sustainable Engagement, Employment & Deployment. Ÿ “ I N D I A's P o w e r & E n e r g y Economy” (2009-11). Ÿ He has founded under aegis of REPA WIRE (World Institute for Renewable

Energy) as its founding Honorary DEAN & established with the REPA NDIM Center of Excellence in Renewable Energy as its First foray together with Vishwa Mohan Bansal, Chairman, NDIM. Other Eminent Jury stalwarts include Yogendra Prasad, Former CMD, NHPC & Ex VP, IHA (International Hydropower Association) ; K Ravikumar, Former CMD, BHEL ; R N Khazanchi, Hon. DRUK uksey, Presidential Pravasee Awardee & Former MD, PHPA , Bhutan ; Dr Hirdesh Khanna, Former Director, MTU Onsite Energy, Germany & Hon. Associate DG, REPA in EU (European Union) ; Hetal Mehta, Chairman , SETU Foundation & Joint President, CoFounder, REPA ; Dr. Prakasam Tata, Hon. Mentor Chairman, REPA ; Executive Director, CTWT, Illinois, USA, PVSN Murty, Former VP, Voith Hydro & Hon Associate Director, REPA ; T C Arora, Ex Director, Toshiba India ; D K Jain, Former Director, NTPC ; S K Shukla, Former Director TEHRI Hydro Development Corporation (THDC) Ltd. & Ex Advisor, IREDA ; S C Sharma, Former President (Hydro), Jindal Power Ltd & Ex Director , THDC Ltd. ; R iagarajan Iyer, Secretary General, REPA and Editorial Director, ENERTIA, is the Convenor of the Jury with Steﬃ Iyer, Director, REPA & Executive Editor, ENERTIA being Jury Coordinator. h ps://m.facebook.com/story.php?story _ id=4228294557186407&id=1000001 77135881

ENERTIA - REPA Feature

P S Bhave, GM - Operations , AFCONS recceiving on Behalf of S G Paretkar, Director - Business Unit Head Hydro & U/G Works - "Doyen of the Decade for INDIA region (Hydropower & Water Resources Construction)

Renewsys Award "Make-in-INDIA" for Renewable Energy Tech received by Bhupendra Rawat, Head - BD

MARCH 2021 – RPO & CLIMATE EQUITY

CHINA - Ultra Mega Hydro

CHINA Unveils Plan for World’s Largest Hydropower Project (66 GW+) – 3+ Times of 3 Gorges CHINA has released oﬃcial plans to construct a major hydropower project on the Brahmaputra river in TIBET region. e proposal for this was clearly put forward in the 14th Five-Year Plan to be implemented from 2021, an oﬃcial representative quoted the head of the Chinese company tasked to build the dam. e mainstream of the YARLUNG ZANGBO River has the richest water resources in TIBET Autonomous Region (TAR), about 80 million kilowa -hours (kWh), while the 50-kilometer section of the Yarlung Zangbo Grand Canyon has 70 million kWh that could be developed with a 2,000-meter drop, which equals more than 3-times of ree Gorges Power Stations in Hubei province, CHINA, w here the current World 's largest Hydropower Project of “ ree Gorges Hydro” w ith 22,500 MW of Power Generation Capacity is located, larger in s c a l e o f I TA U P U H y d r o e l e c t r i c Multipurpose Storage Project of 12,500 MW located in ITAIPU basin covering Brazil, Uruguay, Paraguay & Argentina in South America. TIBET has about 200 million kWh of

MARCH 2021 – RPO & CLIMATE EQUITY

water resources, accounting for 30% of the total in CHINA. Environmental groups and Tibetan rights activists have expressed concern about CHINA's Hydropower ambitions in the region, saying it could aﬀect downstream water supplies. Groups opposing and contesting the Project on Environmental Sustainability or rather lack of it say CHINA's rivers are already at saturation point a er a dam-building boom that included the construction of the ree Gorges Project and many other g i a n t Hy d r o p o w e r P l a n t s o n t h e YA N GT Z E R i v e r Ba s s e i n a n d i t s tributaries. Earlier this year, a U.S. government-funded study showed that a series of new dams built by CHINA on the MEKONG River had worsened the drought aﬀecting downstream countries. CHINA disputed the ndings. “ e 6 0 m i l l i o n kW h Hy d ro p o w e r exploitation at the downstream of the YARLUNG ZANGBO River could provide 300 billion kWh of Clean, Renewable and Zero-Carbon Electricity annually. e project will play a signi cant role in realizing CHINA's goal of reaching a carbon emissions

peak before 2030 and carbon neutrality in 2060,” stated Yan Zhiyong, Chairman of the Power Construction Corp of China (PCCC) at a recent conference. “It is a project for National Security, including Water Resources and Domestic Security,” he said, noting that the project will also smooth cooperation with South Asia. e Hydropower Station could generate an income of US $ 3 Billion annually for the TIBET Autonomous Region, he said. But it is well known controversy that TIBET which is thinly populated and is in Chinese occupation and control has been at the receiving end of Nuclear waste disposal and over exploitation of its water resources bene ing the rest of CHINA with meagre consumption in TIBET itself which has barely any Industry to boast of. CHINA has been guilty of exploiting T I B ET 's Na t u r a l R e s o u r c e s a n d controlling the region with an iron hand and doing haphazard unplanned moves to grab water resources and other natural resources of the region to grow the urban demand while denying TIBET equivalent development to the more prosperous regions of mainland CHINA.

CHINA Nu-Clear

CHINA Puts Nuclear Power, Waste Disposal on the Front Burner in Bid to Meet Climate Targets Beijing wants Industry Development accelerated in the next Five Years that includes building more facilities to deal with radioactive waste

CHINA plans to build more facilities to deal with waste from Nuclear Power plants in the next ve years, as it speeds up development of the industry in a bid to meet ambitious climate targets In its dra 14th Five-Year plan released, Beijing also calls for home-grown thirdgeneration Nuclear Technologies like HUALONG ONE and GUOHE ONE to be promoted. e rst Hualong One reactor was connected to the power grid in November 2020, while the Guohe One design was completed in September 2020. Two hightemperature gas-cooled reactors in Shandong – the First in the World – also nished testing in November and are expected to be connected to the grid this year. To push forward the industry, the ve-year plan leading to 2025 also calls for demonstration projects to be built for

small modular reactors and oating nuclear plants. CHINA last year pledged to hit peakcarbon emissions by 2030 and become CARBON NEUT L by 2060. Nuclear power is a big factor in achieving those goals, but it has already missed a target of having 58 GW of capacity in service and 30 GW under construction by 2020. In its next ve-year plan, Beijing has set a new target of having 70 GW of Nuclear capacity by the end of 2025, a 27% increase from the 51 GW at the end of last year. It had about 21 GW of capacity under construction at the end of 2020, which did not meet its target but was the largest Nuclear Plant programme in the World, according to the China Nuclear Energy Association (CNEA). Wang Yingsu, Secretary General of the Nuclear Power branch of the China Electric

Power Promotion Council (CEPPC), said he was “Optimistic” about the development of Nuclear Power in the Country. “C H I N A's 3 rd - G e ne rati on Nucl ear Technology is World-leading and the peakemissions and carbon neutrality targets create a good opportunity for nuclear power development,” he said. But expansion of the industry will mean more radioactive waste to dispose of, which experts say is a problem that CHINA has to address. “If we want to develop Nuclear Power, the [issue of] radioactive waste will come to the fore,” Wang said. “If we can't solve this problem, it will restrict the development of the industry.” Beijing's dra plan for the next ve years includes building more low and mediumlevel radioactive waste disposal sites and nuclear fuel reprocessing plants. Low-level

MARCH 2021 – RPO & CLIMATE EQUITY

CHINA Nu-Clear

radioactive waste had been generated in CHINA as of the end of 2019.

waste refers to contaminated gear from a plant like protective clothing, while medium-level waste includes lters and used components. Together they account for about 99% of radioactive waste. High-level waste mainly refers to spent nuclear fuel, and the safest way to dispose of it is to bury it hundreds of metres below the surface for up to a million years. CHINA has three low and medium-level disposal sites – in Gansu, Guangdong and Sichuan Provinces – but they cannot deal with all the radioactive waste already generated in the country every year. “A 1 GW Nuclear Reactor generates about 50 cubic metres of radioactive waste every year,” Jiang Guang, head of radioactive source management at the National Nuclear Safety Administration (NNSA), said in April 2020. He said a total of 16,000 cubic m e t re s o f l o w a n d m e d i u m - l e v e l

MARCH 2021 – RPO & CLIMATE EQUITY

In a paper last year, Zhao Chengkun, ViceChairman of the China Nuclear Energy Association (CNEA), said the Gansu disposal site had only completed 10 per cent of its planned capacity and was mainly taking military nuclear waste and some from a power plant in Zhejiang. e Guangdong site meanwhile was supposed to take waste from the Daya Bay plant in the province but had not yet begun operating, while the Sichuan site only accepted nuclear waste generated locally. “We still have not built a real low-level waste regional disposal site,” Zhao said. He added that CHINA would generate about 150,000 cubic metres of low-level radioactive waste by 2060, based on the current pace of installing capacity. But if CHINA aims to have 150 GW of Nuclear capacity by 2035, as some experts have estimated, it would have some 250,000 cubic metres of low-level waste to deal with by 2060. Tian Li, Vice-President of the Nuclear Power branch of the CEPPC, said it would be up to Beijing to nd a solution.

“CHINA has planned to do this for years, but there are obstacles because of the 'not in my backyard' phenomenon,” Tian said. “No province wants to build a disposal site – they want to transport the waste to other provinces. So it needs the central government to make the decision.” A site has been selected for disposal of high-level waste, with construction work ex pected to nish on the Beishan underground research laboratory in Gansu by 2026. Tests are ex pected to be conducted from 2021 to 2040, and a geological repository is to be completed by 2050, according to a government research and development plan. A reprocessing plant is also in operation in Gansu on a trial basis, with capacity for 200 tonnes of Uranium per year, according to the International Atomic Energy Agency (IAEA).

CAIRN – VEDANTA Impasse

CAIRN Energy Case : Courts in Five Countries confirm US $ 1.4 Billion Arbitration against INDIA INDIA files Appeal versus CAIRN Energy Arbitration verdict at Hague e development eﬀectively means CAIRN Energy can move to seize Indian assets if the amount is not paid to them INDIA's reputation of “Ease of Business” is under duress in the CAIRN Energy retrospective Taxation case. CAIRN not only won US $ 1.4 Billion + Arbitration Award now totalling US $ 1.77 Billion with interest & penal, but later registered the Award in 5 Countries with more to follow which will enable the company to demand seizure of Sovereign Assets for recovery. A damning situation that could blot our business and trade reputation for Unfair Trade and Taxation Practices jeopardizing our record as a Nation upholding International Laws and Bilateral Trade Treaties. Courts in ve Countries including the United States and United Kingdom, have

given recognition to an arbitration award that asked INDIA to return US $ 1.4 Billion (over Rs. 10,234 Crore) to British Oil and Gas Exploration Company, CAIRN Energy, PTI reported. e amount includes the arbitration award of US $ 1.2 Billion and “signi cant interest and costs”, according to CAIRN Energy. e development opens up the possibility of CAIRN Energy seizing Indian Assets in those countries if it does not pay the amount, PTI reported, quoting unidenti ed oﬃcials. CAIRN Energy Chief Executive Oﬃcer, Simon omson, said it was time for INDIA “to honour the award”.

“Our shareholders are watching,” omson said. “Our shareholders include some of the largest global institutions. ey expect INDIA to honour these obligations and quickly bring this ma er to conclusion. And if India do not do that and if INDIA delay, then our shareholders expect us to pursue our strong powers of enforcement, which we will have to do”. CAIRN Energy had moved courts in nine countries to enforce its US $ 1.4 Billion arbitration award against INDIA, which the company won a er a dispute with the Country 's Revenue Authority over a retrospectively applied Capital Gains Tax. Of these, the December 21 award from a three-member Tribunal at the Permanent

MARCH 2021 – RPO & CLIMATE EQUITY

CAIRN – VEDANTA Impasse

Court of Arbitration (PCA) in the Netherlands has been recognised and con rmed by courts in the US, UK, Netherland s, Canada and France, according to PTI. Following the recognition of the award by the courts, CAIRN Energy can petition for seizing any Indian Government Asset such as bank accounts, payments to stateowned entities, airplanes and ships, to recover the amount. e Case Brief : I n D e c e m b e r, t h e I n t e r n a t i o n a l Arbitration Tribunal (IAT) in e Hague had ruled that INDIA's demand of Rs. 10,247 crore from CAIRN in past taxes was not valid. e retrospective tax demand was on alleged short-term capital gains that the company had made when it transferred ownership from CAIRN UK Holdings to CAIRN INDIA in 2006. e tribunal had ruled that INDIA's demand was in breach of an bilateral investment protection pact with the United Kingdom, and told New Delhi to pay US $ 1.2 Billion as damages to the Oil Company. In response to the arbitration, Government of INDIA's, Ministry of Finance (MoF), had said that the Government will consider all options, including legal remedies before taking further action on the ma er. Further Developments : In a further development, INDIA has led an Appeal against the CAIRN Energy Arbitration verdict at e IAT, Hague, challenging the US $ 1.2 Billion award on grounds of sovereignty and tax avoidance by the UK oil major. Based on the appeal, New Delhi will seek a stay on enforcement of the award led by CAIRN in a lower Dutch court and will also contest the enforcement in at least eight other jurisdictions, including the UK, Canada, US and France. According to Dutch law, INDIA had time till mid-April to le an appeal. But New Delhi led it earlier to be able to get a stay on the enforcement in other jurisdictions and prevent seizure of Indian assets in those countries. e verdict was given by a three-member panel chaired by

MARCH 2021 – RPO & CLIMATE EQUITY

LAURENT LEVY. e nal hearing was held in Paris in December 2018. “INDIA has appealed against the CAIRN verdict,” a source con rmed to Indian media. In the appeal at e IAT, Hague, INDIA is learnt to have taken the stand that the Government has the sovereign right of taxation and private individuals cannot decide on that. Besides, it falls outside the domain of a bilateral investment treaty and beyond the jurisdiction of International Arbitration. Also, the government will likely invoke international public policy, arguing that CAIRN did not pay tax in any jurisdiction across the globe. e PCA at e Hague had held that the CAIRN tax issue is not a tax dispute but a tax-related investment one. Hence, it falls under its jurisdiction. INDIA is learnt to have contested this claim in the appeal. e government lost an international arbitration case to energy giant CAIRN Energy Plc over the retrospective tax legislation amendment in a December 21, 2020, verdict. e case pertains to the Rs. 24,500 crore tax demand (including interest and penalty) on capital gains made by the oil major in reorganising its Indian business in 2006-07. e energy major has been building pressure on New Delhi to honour the arbitration award and has so far led a case in the US, UK, Netherlands, Canada,

France, Singapore, Japan, United Arab Emirates and Cayman Islands over implementation of the December 21, 2020, award. is will enable the UK rm from going forward to identify commercial Indian assets that can be seized, such as aircra , ships, etc. Ge ing a stay may take another three to four months a er ling an appeal. CAIRN had said in its annual results announcement presentation earlier this month that the award of US $ 1.7 Billion at the end of the year (US $ 1.2 Billion plus interest totalling US $ 490 Million) was enforceable against INDIA owned assets in over 160 countries that have signed and rati ed the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards. It had added that the preparatory identi cation of assets belonging to the Indian Government has begun in multiple countries. SIMON THOMSON, Chief Executive, CAIRN Energy Plc, said its shareholders expect the company to use its strong powers of enforcement to recover the full award amount from the Indian Government. “Our shareholders expect INDIA to honour its obligations and to quickly bring this ma er to a conclusion.” INDIA's Finance Minister, NIRMALA SITHA MAN said recently it was the Government's “duty” to appeal in cases where the Nation's sovereign authority to tax is questioned.

CAIRN – VEDANTA Impasse

VEDANTA, he said, has the option to not agree to the government condition and relinquish the block.

In another Latest development, Govt. of INDIA mulling over on slapping recovery notice on VEDANTA’s CAIRN after a Delhi High Court Judgment

e Ministry of Petroleum & Natural Gas (MoPNG), Government of INDIA, will seek tens of millions of dollars from VEDANTA's CAIRN Oil & Gas a er the Delhi High Court held that the rm was liable to pay higher pro t share to the Government in lieu of its Rajasthan Oil and Gas block license being extended beyond initial term, a top oﬃcial said. In the interim, the Firm's Barmer basin block licence, whose initial 25-year term ended on May 15, 2020, has been given an eighth interim extension. “Now that the Delhi High Court has upheld the Government Policy, we will issue recovery notices seeking higher pro t petroleum since May 15, 2020,” he said to media sources. “ e exact amount is being calculated but it will be in tens of millions of dollars.” When contacted, a VEDANTA's CAIRN spokesperson said, “We are in the process of reviewing the court's order, will assess any next course of action” a er that. e Union Cabinet headed by Prime Minister, NAREND MODI, had in March 2017 approved a policy for extension of Production Sharing Contracts (PSCs) for oil and gas blocks beyond their initial term. is policy provided that the Government's share of pro t petroleum

(earning om sale of oil and gas a er deducting all expenses) would be 10 per cent more during the extended period. VEDANTA'S CAIRN sought a 10-year extension of Rajasthan PSC, which the government approved. But the rm challenged in Delhi High Court the condition for additional pro t petroleum. A single judge bench of the Delhi High Court in May 2018 upheld the company position that the extension has to be on same terms and conditions as the original licence. e government challenged the order before a division bench, which on March 26 this year ruled that “there cannot be extension of the Production Sharing Contract unconditionally, on the same terms and conditions which were prevailing 25 years ago i.e. on 15th May, 1995, the effective date.” It set aside the May 2018 Single Judge Order. “In effect what the Delhi High Court has said is that the company has to pay higher pro t share a er May 15, 2020. So the company is now liable to pay higher pro t petroleum for the period they operate the block post May 15, 2020,” the official said.

“Even in that case, the company is liable to pay additional pro t petroleum for the period they operate the block post May 15, 2020,” he said. e additional pro t petroleum will be in addition to over USD 520 million that the government has sought from the company in a separate cost recovery dispute in the Rajasthan block - the mainstay oil and gas block of Vedanta. e government claims additional pro t petroleum a er re-allocating Rs. 2,723 crore common cost between different elds in the block and disallowance of Rs. 1,508 crore cost on a pipeline. e company has challenged the demand through an arbitration. It also had a dispute with its partner stateowned Oil and Natural Gas Corporation (ONGC) over investments made in the block, which held up the computation of the government's share of pro t petroleum for scal years ending March 31, 2019, and March 31, 2020. ONGC holds 30 per cent interest in the block while CAIRN Oil & Gas, a unit of VEDANTA Ltd, is the operator with a 70 per cent stake. Sources said the Directorate General of Hydrocarbons (DGH) had way back in May 2018 raised a demand for additional share of pro t oil for the government a er disallowing Rs. 1,508 crore out of the cost incurred on laying a heated-pipeline to transport Barmer crude and Rs. 2,723 crore in the reallocation of certain common costs. ese costs pertain to only CAIRN's share in the Rajasthan block as ONGC has agreed to pay the government if these costs are disallowed. In all, Rs 4,828 crore, including interest, is being sought to be disallowed for the 2017-18 scal. e company had previously stated that it believes that it has sufficient as well as a reasonable basis for having claimed such costs and for allocating common costs between different elds.

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Future Buzz - SMART Grid - INDIA

SIEMENS Limited, INDIA Commissions INDIA’s first HVDC link featuring State-of-the-Art Voltage-Sourced Converter (VSC) Technology in Association with a Consortium of SIEMENS Energy, GERMANY, and SUMITOMO Electric, JAPAN e ±320 kilovolt (kV) HVDC system connects Pugalur in TAMIL NADU to rissur in KE LA. Project supports Power Grid Corporation of India Ltd. (PGCIL) in ensuring reliable Power Supply in INDIA's Southern Region and improving the Grid Stability SIEMENS Limited has commissioned INDIA's rst High-Voltage Direct Current (HVDC) link featuring Voltage-Sourced Converter (VSC) Technology. e 2,000 megawa s (MW) Power Transmission System, consisting of two links between Pugalur in the state of TAMIL NADU and rissur in KE LA, supports Power Grid Corporation of India Ltd. (PGCIL) to counter power de cit in INDIA's Southern Region and improve the Grid Stability. e ±320 kilovolt (kV) HVDC

MARCH 2021 – RPO & CLIMATE EQUITY

system was realized by SIEMENS in A ssociation w ith a Consor tium of Siemens Energ y (Ger many) and Sumitomo Electric Industries Ltd., Japan and features for the rst-time the integration of High Voltage Direct Current XLPE Cable with overhead lines in INDIA. e link that has now been put into commercial operation and enables the exchange of electricity in both directions. Major HVDC equipment such as interface transformers and IGBT-based power converters, and other high &amp; medium voltage AC equipment such as gas insulated switchgear, air insulated switchgear, control &amp; relay panels etc. have been supplied om SIEMENS's factories in INDIA. Gerd Deusser, Executive Vice President and

Head (Energy), SIEMENS Limited, said, “We take great pride in partnering PGCIL in this landmark HVDC project. It supports the major initiatives of the Government to achieve '24x7 Power for all' in the country by ensuring reliable power supply, improving the grid's stability, and facilitating the eﬃcient use of renewable energy. e project reinforces

our purpose of driving the energ y transition to more sustainable, reliable, and innovative systems.”

Future Buzz – Renewable & Sustainable Energy – ASIA PACIFIC

w ith gr id stabi lization technolog y advancing, ramping up the contribution of renewable sources makes economic sense and will also drive long-term sustainability for the region. Governments can contribute with policies and regulations driving this change, and the industry could translate emerging business strategies into practical busines models, develop reliable projects and drive technological innovations. To accelerate the energy transition, all stakeholders must join forces and work towards the transformation. Audience engagement also revealed some vital insights on energy transition: Ÿ

SIEMENS Asia Pacific Energy Leaders Identify Seven Key Trends for a Sustainable Energy Future

Ÿ Ÿ Ÿ

Regional and Global Business Leaders, Po l i c y Ma k e r s a n d G o v e r n m e n t Representatives throughout the Energy Sector convened at the Asia Paci c Energy Week to discuss regional challenges and opportunities. eme 'Shaping the Energy of Tomorrow', the 2-day virtual event held from March 9 to 10, 2021 saw more than 2,500 participants actively engage in the discussions, opinion polls and questions. e primary objective focused on fostering an ecosystem of collaboration and cocreation between stakeholders to help meet the world's sustainability goals, boost economic growth, create new jobs and industries, improve human welfare and a ain carbon neutrality by 2050. Over the two days, the thought leaders in diverse panel sessions deliberated and arrived at 7-key trends for a successful transition towards a Sustainable Energy Future. 1. Access to reliable, aﬀordable and sustainable energy supply is a necessity for economic growth 2. R a m p u p t h e c o n t r i b u t i o n o f renewable energ y for long-term sustainability

3. Utilize technology for efficient and cleaner use of energy 4. Embrace emerging and cleaner energy resources like Green Hydrogen 5. D i g i t a l i z a t i o n a n d A I - d r i v e n technologies will form the core of a future-proof and efficient transmission system 6. Access to sustainable, competitive capital will accelerate the energy transformation journey 7. Collaboration among stakeholders is imperative for the transformation of the energy landscape “As the World's fastest growing economic region today, Asia Paci c is witnessing increasing urbanization, rising population and monumental energy needs. With Asia Paci c accounting for more than half of global energy consumption, and with 10% of the population still lacking access to basic electricity, the question is how to bridge into an affordable, reliable and sustainable power supply, while improving energy access,” said Christian Bruch, President and CEO, SIEMENS Energy. With prices of renewables declining and

More than 45% of the participants indicated that cost was a major hurdle followed by willingness for energ y transition at nearly 25% O v e r 6 6 % i d e n t i e d re n e w a b l e integration as the most impactful decarbonization element 48% voted that a breakthrough in energy storage will accelerate energy transition 75% of participants would be willing to pay a premium for CO2 ee energy, and Policy and regulation will be a key motivator.

e event was organized in collaboration with the German Chambers of Commerce Abroad (AHK); the Asia-Paci c Hydrogen Association (APHA); the Global Manufacturing and Industrialization Summit (GMIS); MASDAR - a Global Leader in Renewable Energy and Sustainable Urban Development which is wholly-owned by the Abu Dhabi Government's Mubadala Investment Company, and SIEMENS Gamesa. Seven Key Trends for a Sustainable Energy Future : 1. Access to Reliable, Affordable and Sustainable Energy Supply is a necessity for Economic Growth “In the Philippines, about 95% of society is energized. e biggest issue for us is the affordability of tariffs followed by concerns of energy security as our energy in astructure is in the hands of the private sector. erefore, we need to nd the b a l a n c e b e t w e e n a c c e s s i b i l i t y, affordability, and sustainability. As regards to our country's sustainable future, we have issued a moratorium for green power plants. We have also signed

MARCH 2021 – RPO & CLIMATE EQUITY

Future Buzz – Renewable & Sustainable Energy – ASIA PACIFIC

various MoUs to develop Hydrogen solutions and are looking at the electrolysis technolog y for power generation.” H . E . A l f on so G. Cu s i , Ene rg y Secretary, Department of Energy, Government of Philippines

2. R amp up the Contribution of R e n e w a b l e s f o r L o n g -Te r m Sustainability “Under our National Grand Energy Strategy, we hope to bring more renewable into the energy system of about 23% of the energy mix by 2025, its equivalent to additional 38GW renewable powerplant by 2035. We have a lot of resources that are fossil-based such as coal deposits, oil and natural gas as well as enormous renewable potential are our primary energy sources. In the next 10 years, we want to leverage on technology to build up capacity and in astructure including 18 priority transmissions, 7 smart grid projects and renewable energy. Another program to reduce petroleum consumption, we have about 5,200 diesel power plants right now sca ered across 2,130 locations in Indonesia and we are serious on the journey of converting diesel plants to renewable energy to possibly reduce up to 0.7mil tonnes of carbon emissions.” H.E. Ari n Tasrif, Minister for Energy and Mineral Resources, Government of Indonesia 3. Utilize Technology for Eﬃcient and Cleaner Use of Energy “Asia Paci c is not only the fastest growing region but also the fastest transforming market. With more than 50% of our por tfolio based on decarbonized technology and over 20% revenue generated from Asia Paci c, Siemens Energy has been – and will be – commi ed to supporting countries on their individual paths toward decarbonization. We drive the shi from nuclear and coal to gas and provide grid technologies to support the integration of renewables.” Dr Jochen Eickholt, Member of the Executive Board, SIEMENS Energy AG 4. Embrace Emerging and Cleaner Energ y R esources like Green Hydrogen

MARCH 2021 – RPO & CLIMATE EQUITY

“We see green hydrogen as a key means to achieving this ambition (of wanting to export our renewable energy to the world) and rmly believe that South Australia can become a hydrogen supplier of choice to the Asia-Paci c region. We have been a leader within Australia with our vision to become a world-class hydrogen supplier as the rst Australian jurisdiction to showcase our hydrogen vision through the 2017 Hydrogen Roadmap, and which was reinforced by the release of our Hydrogen Action Plan in 2019. e action plan outlines 20 speci c actions across ve important themes, with the objective of scaling-up renewable hydrogen production for domestic consumption and international export.” Hon Dan van Holst Pellekaan MP, South Australian Minister for Energy and Mining

5. Digitali zation and A I-Dr iven Intelligence will form the core of a Future-Proof and Eﬃcient Transmission System “Digitalization is the de nition of the future. Utilities will stand to gain exponential bene ts om digital solutions. On our end, digitalization helped us to maximize our asset management and performance especially during the pandemic, to support decisionmaking and analytics in addressing the changing loads of our distribution transformers. ere are ample technical solutions that we can ride on but these require capital investment that requires re g ul ator y ap p roval s , and cl os e collaboration with stakeholders on what projects to pursue and prioritize. In order to drive execution to become much cheaper, we will need the strong support om regulators and the government, as well as a close collaboration within the energy sector. e power to make Mother Earth a be er place is in our hands.” Ronnie L. Aperocho, Senior Vice P r e s i d e n t , Ne t w o r k s Me r a l c o Philippines 6. Access to Capital at Reasonable Costs will Accelerate the Energy Transition Journey “To successfully drive the transformation of energy systems worldwide, suﬃcient nancial resources are needed. Take Europe, where we need an estimated €30 trillion by 2050 to decarbonize all our

systems. To accomplish this mammoth task, private capital is needed, as well as the appropriate political amework conditions. A gain , it 's all about collaboration. e good news here – this is growing enormously.” Christian Bruch, President and CEO, SIEMENS Energy AG “In my view, achieving any ne zero carbon goals will require a complete s u p p l y ch a i n o f u n d e r s t a n d i n g , collaboration and agreement between the diﬀerent parties, namely, legislators, g ove r nme nt and c onsume rs. e conversion om fossil fuel to renewable energy requires political will, legislations and policies in place, the willingness to push for change and agreement of consumers to pay a higher premium (with renewables). For power generators like TNB, we are more than happy to support and transform if there is some subsidy to de ay the costs of our investment. As the audience poll suggested, more than 70% of popular opinion believes that policies and regulations provide the most impact to decarbonization. For Malaysia, solar will be the most sought-a er renewable source followed by wind power, while ba ery storage will be the game changer of the energy of the future.” D a t o' N o r A z m a n b i n Mu i , Managing Director, TNB Power Generation

7. Collaboration among Stakeholders is imperative for Transformation of the Energy Landscape “To get to a sustainable energy future we have to join forces. Public sector and private sector must work in tandem for two main reasons. First, private sector capital will accelerate investment and there is a need for more public-private partnerships. Second, companies will translate emerging business strategies into viable business models, developing bankable projects and driving technological innovations. IRENA continues working with all stakeholders to accelerate energy transitions around the world.” Francesco La Camera, Director General, e International Renewable Energy Agency (IRENA)

SOLAR Tech

AVINASH HIRANANDANI Global CEO & MD

NANDKUMAR PAI CEO PV Cells & Modules

RenewSys India Offers Advanced High Output Modules RenewSys India now is in the market with its latest Solar PV tech oﬀering 'Deserv Galactic Ultra' a range of high output photovoltaic modules that have been engineered using half-cut mono-PERC G1 (158.75 mm) Solar PV cells to increase output and performance, even at higher temperatures. ese solar modules perform signi cantly be er than full cell module under shading conditions, according to the company. RenewSys is an integrated manufacturer o f So l a r P V m o d u l e s a n d i t s ke y Components – encapsulants, backsheets and Solar PV cells. ese have been designed and engineered to provide high output, at a lower voltage

that ensures longer string length. e total power per string can be increased by up to 20 per cent. is in turn assures savings not just on the amount of land required to set up a plant, but on the entire gamut of material needed to set up the plant, making this the ideal choice for roo op and utility scale solar power plants. It is compatible with all installation schemes including single and double tracker systems. is has been designed especially for pumping applications and results in a 60% reduction in the number of solar modules required to set up a pump with a voltage that is 10% higher than modules otherwise used in solar pumps.

AVINASH HI NANDANI, Global CEO and Managing Director, RenewSys India said : “RenewSys is commi ed to supplying quality, reliable Solar PV products. Our heritage of manufacturing excellence combined with our investments in R&D, state of the art machinery and focus on innovation is helping us reach out to discerning customers across the globe. As we expand our businesses, we will continue to strive to be the rst choice for solar products worldwide.” NANDKUMAR PAI, CEO PV Cells and Modules, in a statement said, “ ere are four key drivers that were in mind when launching a new product. ese include reliability, sustainability, aﬀordability and versatility. e product can seamlessly be incorporated into roo op, oﬀ-grid, pumping and utility scale projects.”

MARCH 2021 – RPO & CLIMATE EQUITY

SOLAR Buzz

GAGAN VERMANI CEO and Founder

MYSUN Plans Rs. 600 Cr. Investment to Develop 200MW SOLAR Portfolio in Next 3 Years via New Vehicle MYSUN+ INDIA's leading Roo op Solar Enterprise, MYSUN, has plans to invest Rs. 600 crore in the next three years to develop a 200MW Solar portfolio of the rst phase of its recently launched Asset Vehicle. is new venture will provide bespoke Solar Energy solutions to large Corporate, Industrial, and Commercial establishments on a BOOT (Built, Own, O pe rate and Tran s f e r) o r R E SCO (Renewable Energy Service Company) model, GAGAN VERMANI, CEO and Founder, MYSUN told media in Delhi. “MYSUN is aiming to invest Rs 600 crore to develop a 200 MW Solar Portfolio of the rst phase (of three years) of its recently launched asset vehicle MYSUN+. e new asset vehicle will provide on-site and oﬀ-site solar energy solutions to industrial and commercial clients under the RESCO model,” he said. “MYSUN+ has already gained traction with some of the large and renowned Indian as well as multinational companies becoming clients and has signed up and executed / executing

MARCH 2021 – RPO & CLIMATE EQUITY

projects in Rajasthan, Madhya Pradesh, Andhra Pradesh and Puducherry”, Vermani added.

and long lifespan through world-class engineering, highest safety and service standards, it said.

With this new venture, MYSUN becomes a complete 360-degree Solar company meeting vastly diﬀerent nancing needs of its diversi ed client base of the large, medium and small industry as well as homes, all under one roof.

It will oﬀer exible power sale contracts to its customers and therefore help make their 25 years solar journey easy, reliable and cost-eﬀective, the company stated.

MYSUN+ enables consumers to buy solar power without the hassles of se ing up and operating a solar plant on their buildings a n d w i t h o u t m a k i ng a ny u p f ro n t investments. is initiative will immensely bene t the companies by making their energy consumption more cost-eﬀective and in reducing their carbon footprints. e company is funding MYSUN+ with the capital it raised recently and is in the process of closing debt for its rst set of projects. MYSUN+ w i l l use premium solar equipment to ensure high performance

MYSUN+ w i l l be an independent subsidiary of MYSUN. “With the COVID related impact on businesses driving corporates to accelerate their cost-reduction initiatives through solar, we found an opportunity to leverage our digital platform, large client base and execution capabilities through the launch of MYSUN+”. “It allows us to cater to the client segment which wants to opt for a cheaper source of power without any kind of up ont capital investment. MYSUN+ will open new opportunities and scale for our group.” said Vermani.