Unnecessary coal plants could waste India’s 247,421 cr: Report

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New Delhi, Sep 7 | A total of 27 GW of pre-permit and permitted new coal power plant proposals in India are now superfluous to its electricity requirements. These coal project proposals could jeopardise the achievement of India’s widely-praised renewable energy target of 450 GW by 2030, a new report said on Tuesday.

These surplus ‘zombie’ plants, assets that would be neither dead nor alive, would require Rs 247,421 crore ($33 billion) of investment, yet are projected to lie idle or operate at uneconomic capacity factors due to surplus generation capacity in the system.

According to the analysis by Ember and Climate Risk Horizons, the private sector’s unnecessary investment on ‘zombie’ coal plants will be Rs 62,912 crore. Of this, JSW Energy, which publicly stated it will not build any new coal plants, is proposing a Rs 10,130 crore Barmer coal expansion project.

Adani Group and Bajaj Group are proposing Rs 26,286 crore and Rs 17,998 crore respectively on new coal plants.

Aditya Lolla, Ember’s senior analyst, said: “As India recovers from the disruption caused by the COVID-19 pandemic, how the country uses scarce public resources will be absolutely crucial. By avoiding these unnecessary ‘zombie’ coal plants, India can not only save lakhs of crores of rupees, but also lower power costs and reiterate its commitment to the success of its clean energy transition goals.”

The analysis by energy experts at Ember and Climate Risk Horizons demonstrates that India doesn’t require new coal capacity beyond the 33 GW of new coal plants already being built, to meet demand growth by FY 2030.

Even with aggressive projections of five per cent annual growth in power demand, the analysis shows that coal-fired generation in FY 2030 will be lower than in FY 2020, as long as India achieves its 450 GW renewable energy and other non-coal targets.

The report finds that over 300 GW of renewable energy commitments have already been made by India’s public and private power generators.

Furthermore, India can meet peak demand in FY 2030 even if it retires its old coal plants and stops building new coal beyond those under construction. By FY 2030, India will have a total ‘firm’ capacity of about 346 GW in addition to 420 GW of variable renewables capacity to meet an estimated peak demand of 301 GW.

The daytime peak demand would be easily met with India’s huge planned solar capacity, while the report shows that evening peaks will be most effectively met by additional battery storage, at a lower cost than building new coal.

The analysis reveals that switching investment from coal projects to renewables and battery storage would save the Indian power system an additional Rs 43,219 crore ($4 billion) a year from 2027 onwards in terms of reduced power purchase cost — in addition to capex savings — without sacrificing the power system’s ability to meet future demand.

Abhishek Raj of Climate Risk Horizons, said: “Once incurred, these wasted investments will lock DISCOMs and consumers into expensive contracts and jeopardise India’s renewable energy goals by adding to the system’s overcapacity. The smart option is to divert these resources to renewables and storage to build a cheaper, more resilient grid for the future.”

Source: IANS

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Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal Campusutra.com  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal

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