World Bank Bets on Renewables Boom in India

first_imgWorld Bank Bets on Renewables Boom in India FacebookTwitterLinkedInEmailPrint分享Global Trade Review:The World Bank is to provide US$100mn in funding for renewable energy projects in India’s booming market.The development bank will provide US$98mn in debt to the Indian Renewable Energy Development Agency (IREDA), which will on-lend the money to states in India for solar projects. A further US$2mn will be available in grants.IREDA has already earmarked 750MW and 250MW solar parks in the Madhya Pradesh region, as it looks to move towards India’s national renewable energy target of 175GW of output by 2022.India’s renewables market is viewed as one of the world’s most promising. A recent report by the Institute for Energy Economics and Financial Analysis (IEEFA) predicted a dramatic market share gain by renewable energy, with a sustained deflation in renewable tariffs.Over the past two years tariffs have fallen by 50%, with a record low solar energy tariff of the equivalent of US$38 per MWh being reached this year. This, the institute finds, will result in peak coal being reached by 2027, at no more than 10% above current levels.“A combination of India’s ambitious energy policy and ongoing solar and wind energy tariff deflation will enable India to catalyse US$200-US$300bn of investment in renewable energy infrastructure over the coming decade. Improvements in energy efficiency and reduction in technical and commercial losses will deliver better electricity production per coal tonnage. To conclude, the transformation will ensure India to support its economic growth while keeping greenhouse gas emissions in check,” says Tim Buckley, director of energy finance studies at the IEEFA.World Bank to fund Indian renewable energylast_img read more

Amityville Man Gets 10 Years for Crash That Hurt Cop

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York An Amityville man was sentenced Tuesday to 10 years in prison for critically injuring a Nassau County police officer that he caused her to crash during a high-speed chase.Louie Blanton had pleaded guilty at Nassau County court in January to assault upon a police officer, unlawful fleeing a police officer in a motor vehicle and criminal possession of a weapon.Prosecutors said that the 24-year-old man fled when the officer tried to pull his vehicle over after a 911 caller reported the vehicle as suspicious on Broadway in North Massapequa on Nov. 21, 2011.He sped away on the Southern State Parkway eastbound and slammed on his brakes near exit 32 in Farmingdale, forcing the officer to swerve out the way, crash into a guard rail and bounce into traffic, where her patrol car was hit by another vehicle.The officer suffered a fractured spine, collapsed lung, fractured ribs and fractures to her sternum, collarbone, shoulder blade and nasal bone. She remains unable to work.Blanton fled the scene but was apprehended on Feb. 29, 2012 after a lengthy investigation by police.last_img read more