Delhi Solar Energy Policy, 2023
The Delhi government launched the Delhi Solar Policy 2023, in which residents consuming over 400 units of electricity can install solar panels bring electricity bill charge to zero. Under the newly launched
Energy Policy
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New year blow
The Sri Lankan government has given its citizens a bitter pill to swallow this new year. It has declared that a hike in the prices of diesel, petrol and other household goods is the only remedy to
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Mesa s mess up
In Bolivia, there is intense political turmoil centred around its energy policy. President Carlos Mesa offered his resignation on March 7, 2005, following weeks of widespread protests and a call by
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Clean law
In a remarkable move, China passed a Renewable Energy Promotion Law on February 28, 2005, setting targets for developing renewable energy sources. China is the world's second largest emitter of
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Pact on synergy
EU Commission proposes to diversify energy supplies
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Black money
Economic concerns make the US promote unclean fuel
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EU focuses on cutting costs rather than energy efficiency
We know that energy consumption in the European Union (eu) is rising everyday. Also, eu wastes at least 20 per cent of the energy it uses. The total energy production in Europe in 2004 was 2.4
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BG wants to buy stake in ONGC's oil, gas blocks
BG group of the UK is keen on picking 25-30% stake in state-run Oil and Natural Gas Corp's (ONGC) Krishna Godavari and Mahanadi basin deepsea oil and gas exploration blocks off the east coast. BG has expressed interest to take 30% interest in KG basin Block KG-DWN-98/4, which ONGC had won in the first round of auction under New Exploration Licensing Policy (NELP) and 25% in Mahanadi basin Block MN-DWN-2002/2 that the state-run firm had won in NELP-IV. "We have approached the government for approval of the farm-in,' a company official said.
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Sovereign wealth fund for overseas energy assets
The government is planning to create a multi-billion-dollar sovereign wealth fund to invest in energy assets such as oil, gas and coal across the world. "The plans are at a very initial stage. A decision on this would be taken after the budget,' Planning Commission energy adviser Surya P Sethi said here. "The fund, if set up, will invest in overseas oil, gas and coal assets.' Sethi did not give any idea of the possible size of the fund, but said: "It has to be in billions of dollars.' According to the latest data available with the Reserve Bank of India, the country's foreign exchange reserves stood at about $290.8 billion for the weekended February 8, up 57% from a year earlier. A sovereign wealth fund comprises assets such as stocks, bonds and other financial instruments, which is owned and managed by the government. The funds are deployed overseas for higher returns. The fund will be on the lines of Temasek Holdings, a sovereign wealth fund owned by the Singapore government. Officials are of the view that low returns on investments in US treasury bills and other sovereign securities did not cover the costs of maintaining huge forex reserves, and justified establishing a fund that could deliver higher returns. Last year, state-run India Infrastructure Finance Co Ltd set up an offshore unit in London to use part of the country's reserves to help local Companies import equipment for infrastructure projects. The corpus of this fund is $5 billion. The central bank has previously expressed reluctance at using forex reserves to set up an investment fund as it said the build-up in reserves was largely to insulate the Economy from the impact of huge capital inflows, which could be reversed at short notice.
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Rationalise levies on petro products for long-term good
WE ALL know the critical role played by oil and gas in the economic development of a country. Fuels such as PDS kerosene and domestic LPG are essential commodities, next only to food, and impact the life of common man in a major way. Therefore, managing the supplies and prices of sensitive petroleum products is a key policy issue for the government.
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Energising reserves
A wealth fund with dedicated funds from forex reserves would add muscle to India's race for energy supplies around the world.