Author Archive: Jai Sharda

Former IEEFA Consultant Jai Sharda is the managing partner at Equitorials, a financial research firm in Mumbai. He has a degree in mechanical engineering from NIT Bhopal and an MBA from IIM Ahmedabad, and is an investment and financial analyst.

IEEFA Asia: India’s High-Risk Rampal Coal-Plant Investment Puts Global Household-Name Asset-Management Companies at Risk

BlackRock, JPMorgan Chase, Reliance Group, Sun Life Financial, Franklin Resources, Royal Bank of Canada, AIG, Prudential, Axis Bank, Crédit Agricole, HSBC, Bank of New York Mellon, UBS, Credit Suisse …

In a continuation of our pictures-worth-a-thousand-words motif we started earlier this week, with the first one on the vast opportunity in BRICS renewables-investment markets, here’s one that offers a revealing look at which institutions exactly are at risk in the exceptionally high-risk Rampal coal-fired project in India. First, the EXIM Bank of India has a […]

October 21, 2016 Read More →

IEEFA Global: A $51 Billion Gap (and a $51 Billion Opportunity) in BRICS Nations’ Renewable Energy Development

How to Meet the Goal? Through "Blended Finance" Where Public Funds Unleash Private Money

Here, in one chart, is an IEEFA picture worth a thousand words. While some $130 billion was invested last year in renewable-energy development in the BRICS countries—Brazil, Russia, India, China, and South Africa—billions more are required if these countries are to meet their commitments to climate-change mitigation policies. The four countries, in all, have announced […]

October 17, 2016 Read More →

IEEFA Asia: Latest Setback for India Ultra Mega Power Project Is Probably All for the Best

In the latest development around the already much-delayed bidding guidelines for new Ultra Mega Power Plants, the Indian Ministry of Environment and Forests says it will allow the imported-coal-fired projects to proceed only if the project developers sign what are ultimately impractical memorandums of understanding with coal suppliers. As the Economic Times of India Reports: […]

September 7, 2016 Read More →

IEEFA Report: India Clings to Questionable Ultra Mega Power Plant Plans

Viability Issues Continue to Complicate New Coal-Fired Projects

We’ve published a report today noting that while India has undergone an admirable energy-policy shift over the past few years, it is clinging unwisely to plans to build two costly coal-fired Ultra Mega Power Plants. Our report—“India’s Questionable Ultra Mega Power Plans”— details how these UMPP projects stand in jarring contrast to better-advised initiatives that […]

August 3, 2016 Read More →

IEEFA South Asia: A Simple Way to Help Address Bangladesh’s Energy Crisis—Import Electricity From India

Expensive Coal-Fired Projects Are Not the Answer

As India proceeds with a remarkable electricity-sector transformation that puts it firmly on the road to modernizing its antiquated grid, expanding its commitment to renewables and achieving stronger national energy security, its neighbor to the east, Bangladesh, is reeling from an ever-growing power crisis. Bangladesh is awash today in energy poverty. Its per capita consumption […]

July 28, 2016 Read More →

A Step Backward for Bangladesh

Rampal Power Project: Fraught With Unacceptable Risk and Out of Step With the Times

We’ve published a report today that explains how the proposed coal-fired Rampal Power Plant in southwest Bangladesh would drive up electricity rates, cost far more than its promoters say, and put investors and consumers at a myriad of risks. Our report, “Risky and Over-Subsidized: A Financial Analysis of the Rampal Power Plant,” outlines why the […]

Rampal Coal-Fired Proposal for Bangladesh Puts Ratepayers and Investors at Risk, Relies on Outdated Technology, Is ‘Out of Step With Times’

Electricity Prices Would Be 32% Above Current Averages; Indian EXIM Bank Would Be Overly Exposed; Solar-Energy Momentum Offers an Immediate, Lower-Cost Solution

June 17, 2016 — The proposed coal-fired Rampal Power Plant in southwest Bangladesh would drive up electricity rates, cost far more than promoters say, and put investors at a myriad of risks, according to a report published today by the Institute for Energy Economics and Financial Analysis (IEEFA). The report, Risky and Over-Subsidized: A Financial […]

Data Bite: December Numbers Signal a Looming End to India’s Appetite for Foreign Coal

Most Forecasts Have Missed What Has Become an Unmistakable Trend; Activity Is Down 34% Year Over Year in December; Stranded-Asset Risk Grows

Figures just released by the Indian government show coal imports down 34 percent year over year in December after a record 49 percent year-over-year decline in November. The new numbers bring the decline to 15 percent from April through December in 2015. It’s a striking trend that is contrary to almost all financial market and International Energy Agency […]

and January 7, 2016 Read More →

Reliance Power, Indian Electricity Behemoth, Has Turned Toward Renewables

An Apparent Realization That Markets of the Future Will Not Resemble Those of the Past

In a notable measure of the pace of transformation across global energy markets, Indian power behemoth Reliance Power is changing its business strategy. Public statements, company reports and press coverage all point to a shift from coal-fired electricity generation to renewables at Reliance. It’s a change worth paying attention to because of the sheer size […]

and October 29, 2015 Read More →

India’s Energy Transformation Signals an End to Coal Imports

Government Policies Are Remaking the Market in the World’s Second Most Populous Country

The obstacles to India’s ambitious energy transformation are like everything about India: vast, interrelated, and complex. Yet momentum has a way of rolling over obstacles, and—borrowing from Hindu mythological iconography—Prime Minister Narendra Modi has harnessed the “seven horses” of energy to push the government’s fast-growing electricity-sector transition. A year into the program, all the evidence […]

and August 10, 2015 Read More →