Note this Hydro Plant will cost around $31 Billion which is quite costly at $15/watt if the the $31 Billion is used for the 1800 MW capacity.This is is almost 15x the cost of a typical Hydro Capacity and would need massive subsidies.Papua New Guinea is a poor country and might receive aid from Australia but the $31 Billion would make even the richest country balk at this price.Australia is not exactly energy deficient with massive resources of coal,wind and solar energy.In Renewable Energy the country has been quite slow with provinces like NSW and South Australia promoting renewable energy through regional subsidies.Hydro Power is the main source of Clean Power accounting for 90% of the Clean Energy Mix.The Project will take 10 years to build and their remains an outside chance that Oil Prices become so high that 24 hr Hydro Power at that time might make sense at $15/watt.
India has started a Renewable Energy Certificate (REC) Scheme recently to boost the share of Clean Energy Sources in India’s Electricity Mix.India’s Electricity Regulator (CERC) has come out with a notification making it mandatory for Electricity Utilities to buy 6% of their requirements from Green Energy Sources.However the REC Scheme still faces teething problems in [...]
Czech is a Poster Boy of how not to implement a Feed in Tariff Scheme.While other countries like Spain,Greece have also faced Solar Booms,the Czech Bubble compared to the size of its Economy has been spectacular.The removal of Tax Benefits will further lower the returns for Green Investors which should probably eliminate the make the Czech Renewable Market next year.
Greece has a totally confused Green Policy just likes it General Economic Policy.The Parliament had taken a go at simplifying the bureaucratic mess by eliminating permits and approvals for small plants below 500 KW.However 6 months have passed without much progress.Greece needs to do a comprehensive overhaul of the Green Subsidies.The Solar and Wind Costs have fallen greatly in the interim so it needs to reduce the FITs to normalize the returns.Otherwise it might repeat a Spanish/Czech Renewable Energy Boom and Bust.
India’s most industrialized and fast growing states like Gujarat,Tamil Nadu,Maharashtra have been the most aggressive in Green Energy as well.Gujarat has attracted huge interest in Solar Energy through strong support by the government.Tamil Nadu and Maharashtra account for almost 70% of India’s 8-9 GW Wind Energy capacity.However economically backward states like Orissa,Bihar,Uttar Pradesh remain laggards in this respect as well.Orissa seems a classic case where the general economic lethargy extends to the Renewable Energy Sector as well.
While Japan is a big player in the Solar Energy Manufacturing Market,there are other significant players like USA,China,Germany which have not protested against this discrimination.So why is Japan so miffed as to approach the WTO over this issue.One reason that i can readily think of is the Huge Contract given to Samsung by the Ontario government.The agreement with Samsung gives it the subsidies to set up a huge solar and wind energy capacity in the province.The government will support the company through preferential grid access,subsidies and land.This has given a huge boost to the Green Ambitions of Samsung which wants to become a big player in the Renewable Energy Area.