February 2011
February 28, 2011
Crystalline Solar Cell Suppliers are fast disappearing due to the changing dynamics of the global c-Si Solar Panel Industry.With vertical integration becoming imperative as margins and prices get squeezed,independent solar cell suppliers are having a tough time.Increasing raw material costs in terms of higher polysilicon and solar wafer prices and competition from numerous players has decreased the number of pure play solar cell suppliers.However a few of the top solar cell producers continue to grow and flourish though they are also entering into other segment of the PV solar supply chain.Most of the independent solar cell suppliers are from Taiwan and some from China.European solar cell producers have mostly disappeared due to the high cost base of the European factories.Note this list is mostly composed of solar cell producers who don't have big module making operations.You can find a list of the top solar energy companies most of which make solar cells as well.
February 28, 2011
Indian Stock Markets are full of stock market manipulators and operators trying perennially to loot the small investor with the regulator SEBI mostly turning a blind eye.Pump and Dump IPO issues,circular stock rigging in small caps,corporate governance issues in even large companies are quite endemic.Investing in the Indian markets is a very hazardous activity for the small investor.Its not only the Indian companies but also large reputed MNCs who also keep pulling fast ones on the minority shareholders.The Cairn-Vedanta deal is a recent example where the promoters are rewarded at a higher premium in takeovers through legal shenanigans by large corporate groups.
February 28, 2011
Renewable Energy Certificate (REC) are one of the most important tools for promoting alternative energy in India.The Central Regulatory Commission (CERC) alongwith energy exchanges has been working on making trading in RECs happen since the last one year.Trading in RECs started last week with small amounts of REC trading at the Delhi based Indian Energy Exchange.Note most of the volumes are expected to be traded in the July-Sept Wind Season and October Bagasse planting season.While only small amounts were traded as physical trade is only allowed for 2 hours on last Wednesday of every month,volumes trading should start in 2012.The IEX is targeting around $8 billion in REC trade by 2017 as Renewable Energy in India grows at a faster rate.
February 28, 2011
The Reserve Bank of India has clarified that Indian individuals cannot trade in the forex markets under FEMA rules.Note a number of Indian brokers and forex companies were advertising heavily promising big returns to retail investors.Note forex markets are extremely tough to trade even for professional traders for institutions.For retail investors they are a sure shot way to lose money in large amounts.Note forex markets offer much higher leverage than normal Futures Equity markets.Being an effectively zero sum game and requiring high amounts of knowledge ,forex markets are just too sophisticated for retail investors in my view.But they are quite lucrative for forex trading portals and companies whose main target semgent are retail investors.
February 28, 2011
South Korea is one of the biggest shipbuilders with major companies like Daewoo,Hyundai Heavy and Samsung.However its being beaten down by the low cost Chinese companies which are using cheaper capital and lower labor costs to press their advantage.South Korean Shipbuilders have been trying to diversify into offshore wind energy in order to safeguard their revenues.However they face tough competition in this renewable energy sector as well from incumbent wind turbine compaeis as well as Chinese WTG companies like Sinovel,Goldwind and others.Now the South Korean government is helping them with a 300 billion won research fund.This fund will be used to do R&D into building of "Green Ships" which are becoming the new growth segment.
February 28, 2011
The Indian Stock Market Regulator SEBI has been seen doing nothing against blatant market manipulation and stock rigging scams.Mid cap and Small Cap Stocks are havens for rigging by promoters and stock brokers as SEBI seemingly does nothing.Even in the primary market,junk IPOs rule the roost with even the recent correction failing to see crap stocks making a debut (Sudar Garmets,Fineotex,Omkar etc.).To anyone with a modicum of common sense it is apparent that such low quality companies could not raise money without manipulating the markets.However SEBI in its infinite wisdom remains blind to this.Stock brokers like Ashika,Dangi continue to operate unimpeded despite being indicted for scamming.Even reputed stock brokers are involved in underhand and shady dealings.However SEBI does nothing indirectly encouraging fleecing of small and retail investors.Not that big investors like Goldman,GMO are immune to fly by night operators as well.
February 28, 2011
Corruption in India has taken massive proportions with a new scam being unearthed almost every day .However this has not metered the architects of corruption in India from continuing their looting spree.While the 2G Telecom Scam throws up new looting revelations,newer corruption scams are also competing for newspaper inches.Investing in the Indian stock markets is at best a hazardous activity with most of the promoters trying to fleece shareholders.Mid cap and small cap scams have already resulted in massive losses.Now investing in India's largest companies belonging to the main Nifty Index has also become dangerous.While the scam related to the ADAG Group has already resulted in 80-90% fall from the peaks of the companies of this group,others are joining in.Nalco which is a government owned integrated aluminum producer was thought to be one of the safest companies to invest in.However even this company has fallen.The CEO of the company was found taking bribes in the form of gold bricks in return for favors.
February 21, 2011
China based GCL Poly is the biggest solar wafer producer in the world wresting the crown from LDK Solar in 2010.GCL Poly is now set to grow even bigger in 2011 raising its wafer capacity almost 85% making it No.1 by far.Note solar wafers are made up of polysilicon and used as raw materials for making solar cells which generate electricity from the sun.They are very similar to semiconductor wafers which are used to make the basic building blocks for electronics.GCL Poly has seen a massive rise from 2010 when it started to producer solar wafers.The company's strategy of setting up plants near its major customers have landed it major deals and lower the cost in the supply chain.
February 20, 2011
Solar Thin Film Technology has been growing rapidly despite falling costs of the mainstream Photovoltaic Crystalline Silicon Technology.While a number of Weaker Hands in Thin Film have downed shutters,Thin Film Producers continue to grow and expand.The massive growth potential of Solar Energy makes it possible for both of these PV technologies to flourish.Thin Film Technology unlike c-Si has a number of variants.Amorphous Silicon (a-Si),Copper Indium Gallium Sulphide (CIGs) and Cadmium Tellurium (Cd-Te) are the 3 main types of Thin Film Technology.There are a number of manufacturers of all of these 3 types of Technology.CIGs Technology is said to have the most potential in improving efficiency and competing with c-Si,however Cd-Te is currently the top dog as the world's biggest solar producer First Solar currently uses this technology.a-Si Technology is not that hot with low efficiencies however Oerlikon and Sharp are pushing ahead with developing this technology.Here is a list of the world's top Thin Film Companies.
February 19, 2011
The CleanTech and Green Theme is being increasingly used by fraudsters and fly by night operators in the stock market.CO2 Tech Ltd.,a Pink Sheets Company has […]
February 18, 2011
Note it would not be surprising if the allegations were true as the Indian stock market is a pump and dump heaven of IPOs with blatant manipulation by market operators.Price Rigging Rings are also present with mid cap and small cap scams happening with an alarming regularity.With Corruption touching a new high,the Supreme Court has taken over the investigation of the Telecom Scam Probe from the Government.This has led the CBI which is mostly a ruling party puppet to question some top billionaires and politicians.However it remains to be seen if some of the top fish are caught or just some small scapegoats are imprisoned.
February 18, 2011
China has come under a lot of fire for its proectionist trade policies from mulitnational corporations like Siemens,GE,Google as well as its major trading partners.One of the bones of contention is its export restrictions on crucial minerals like zinc,lead,cadmium, gold, indium, iron ore, lime, lead, manganese, mercury, molybdenum, phosphate, salt, tin, tungsten, vanadium and zinc.China is surprisingly the biggest producer of these minerals and has been hoarding these minerals.Note China is the biggest importer of minerals like copper,coal,iron ore etc. so its hoarding is surprising.This action by China came under the scanner when it restricted the export of rare earth minerals over a small dispute with Japan.This resulted in alarm bells ringing in Europe,USA and Japan.These countries scurried for alternative sources of these crucial REE in other places as China controlled more than 95% of the world's supply.
February 18, 2011
Solar Energy is the fastest growing renewable energy source in the world and has shown tremendous growth in the last 2-3 years.This has been driven by a more than 50% decline in Solar PV costs which continues to decline further.With further increase in energy prices,Solar Power is becoming closer and closer to retail electricity price.Not only is the price declining,solar power is clean energy a most valuable feature in these days of accelerating climate change.Solar Energy has already reached grid parity in places like Italy and Hawaii and will do so in more places in the coming 2-3 years.The industry is a dynamic one and the list of top solar companies can change quickly.Rapid Technology Change and Fast Declining Costs have pushed out most of the Top 10 companies of 5 years ago and brought in new ones mainly Chinese.Here is a list of the Top Solar Panel Producers in the World.
February 18, 2011
India too needs to be worried from these missile developments.Note the Defence Minister had said that he was concerned from the rapid modernisation of China's military forces but was not overtly worried.I think its time for him to worry as China's armed forces show massive technological improvement.Note China has the largest military force in the world in terms of number but it lags way behind in technology compared to the West.However that is changing with growth of the Chinese Economy the 2nd biggest in the world.China and Indian relations have been quite tense of late with China raising the ante on a number of issues.China has been placing missiles in Tibet while India is deploying fighter aircraft and troops near its borders with China.
February 18, 2011
Leading GHG emitter and Biggest Coal Exporter Australia Kills Most Green Program using Floods Excuse
Australia is the biggest exporter of coal in the world and one of the leading emitter of GHG emissions.Its huge mining industry generate tons of carbon and earns billions for the Australian Treasury.However despite its leading role in global warming,Australia has almost no subsidies for green energy.The federal government has conveniently used the recent Queensland Floods to cut off a number of Green Programs such as Green Car Innovation Fund, Cleaner Car Rebate Scheme, the Carbon Capture and Storage Flagships and Solar Flagships, the Solar Hot Water Rebate, Green Start Program, Solar Homes and Communities Plan.The Solar Flagships Program which was supposed to generate around 1 GW of Solar Energy has also been killed.Note Australia generate 92% of its electricity from Fossil Fuel which is quite high compared to other developed countries.
February 17, 2011
Solar Energy in India has a tremendous growth potential and is currently seeing massive interest.The government support in the form of JNNSM with a target of 20 GW by 2022 has given a sold impetus to solar power in the country.A small number of solar energy plants have already been completed by different developers in a small number of states.The migration projects of JNNSM are the first ones that are going to be completed followed by the ones which were won in the auction.Here is a list of current and potential future solar energy plants in India.
February 17, 2011
Solar Thermal Projects are getting converted into Solar PV ones as the fast declining costs of Solar PV make CSP uncompetitive.With Solar Panel prices expected to […]
February 17, 2011
John Kerry is doing the rounds of Pakistan and Obama has called for the release of the "diplomat" on the grounds of diplomatic immunity which is a joke.The widow of one of the killed men had done suicide because she was sure that her husband's killer would not be brought to justice.The US is doing exactly that by threatening to cut off all aid and break off diplomatic ties.It is this kind of behaviour which leads to more anti-Americanism around the world and displays the American hypocrisy over defence of human rights and democracy.I am sure if such an incident had happened in USA,the murderer would be facing a lethal injection in a very short time.However in an unequal world human rights for an American and a Pakistani or three is different.
February 17, 2011
Green Investing in India makes a great theme but investing in specific CleanTech companies is a tough task.Some of the biggest Renewable Energy Companies have led […]
February 17, 2011
Geothermal Energy is the proverbial poor cousin to wind and solar energy.Only 10 GW of Geothermal Energy Capacity has been installed and the growth rate is a pathetic 3-4% compared to the over 50% CAGR seen for solar energy and around 30% for Wind Energy.Geothermal Energy produces electricity at a reasonable cost in mature locations and unlike Solar,Wind does not suffer from intermittency problems.However a number of problems dog geothermal energy development.Despite huge promise,Geothermal Energy faces a slow painful death and unless something dramatic happens will remain a niche renewable energy source.Canadian companies which are the leaders in consolidating the fragmented industry like Ram Power and Magma Power are facing huge problems.While Ram Power saw its CEO go,Magma is now looking at other renewable energy opportunities.
February 17, 2011
Geothermal Energy in India is non existent with not a single functioning plant as of 2011.However potential for this renewable energy exists in a number of sites in India with a potential of around 10 GW.With the Indian government planning to come out with a draft policy to develop geothermal energy by March 2011,major companies are gearing up to exploit this alternative energy resource.Note India has massive energy needs and with a 15% energy requirement from clean sources by 2020,it will need to develop all renewable sources.Note India already has a well developed Wind Energy Industry and has one of the fasted growing Solar Power Industry in the world with a massive future growth potential.Geothermal Energy is regarded as a poor cousin to its more glamorous cousins Wind and Solar.However Geothermal Energy possesses one attribute that the others do not.Its 24 hour generation capability is a massive plus compared to the intermittent nature of Wind and Solar Energy.However long project development time and massive capital investments have deterred fast growth in geothermal energy in the world.However some countries like Iceland,Indonesia,Philippines and USA have a strong geothermal energy industry.
February 16, 2011
Acropetal Technologies is a bit different from the run of the mill junk IPOs coming out in Feb 2011.After a deluge of crap IPOs in 2010,2011 has not seen many of them as the markets have corrected by around 15%.However a recent rally has bought out the junk companies in association with their associated shady bankers and market operators.Omkar,Sudar,FCL are some of the totally crap IPOs which have happened or in the process of happening.Acropetal Technologies is an IT/ITES company plans to raise Rs 170-crore through its IPO on February 21. The company has fixed the price-band of its IPO at between Rs 88 and Rs 90 per equity share.The company will use Rs 55 crore for acquisitions and Rs 26 crores for a software office.The company seems better quality than the junk and may merit a look from investors though there are much better companies on offer at better prices in the secondary markets.Here are the positives and negatives of the IPO
February 16, 2011
In the season of scams and scandals when the erstwhile high flying mid cap and small cap names are getting battered for management issues,Sudar Garments has surprisingly come out with an IPO despite spotty corporate governance issues.Like so many of the junk IPOs coming out in 2010,this one too should managed to raise money through market operators.The modus operandi of these IPOs is mostly pump and dump where a few unscrupulous and shady brokers are responsible for managing the issue.With the stock market regulator SEBI refusing to crack down on these blatant manipulation,the pipeline of crappy small cap junk IPOs in the Indian stock market keeps growing.Thought that the current market crash would have removed them,but apparently not so as the junk IPO industry keeps growing stronger.This despite the more than 50% crash on issue day of Omkar Chemicals ( a junk IPO).Here are some of the notable negatives of the issue which has been given a 1 out of a 5 rating by rating agency CRISIL (not that the rating help the retail investors).
February 16, 2011
Solar Panel Prices have decreased at a jaw dropping 50% in the last 2 years and will probably decrease 10-15% more in 2011.That is an astounding number given the increasing energy and electricity prices being faced around the globe.Though solar energy is costlier than other forms of energy,it starts on a low base.With 2010 solar growth pegged at more than 100% and 16 GW of solar panels installed,Solar Energy is starting to become more mainstream.Like Solar,the entry of Chinese players has decreased the cost of Wind Energy as well.Despite increasing input steel and copper prices,wind turbine prices have declined.Stiff competition amongst Chinese WTG companies has made the price of a Wind Turbine go as low as $600,000-700,000 in China.This has brought a depression in prices in other places in the world as well.
February 16, 2011
Semiconductor and Electronics Giant Samsung is entering into production of polysilicon setting up a 10,000 ton plant in an equal JV with US Poly Producer MEMC.The plant will be set up in South Korea and will go onstream by 2013 as it takes around 2 years to set up a plant.Note Samsung had recently started production solar crystalline silicon solar panels which uses polysilicon as raw material.Samsung has a strategy for manufacturing crucial raw materials inhouse for its different product lines.For example Samsung has a multi billion dollar JV with Corning to manufacture LCD glass in South Korea and a JV to make wafers for semiconductors with Wacker.It uses the expertise and technology of its JV partners to get into raw material production.The JV partners get a huge customer for their products and are happy to go along with Samsung in these Joint Ventures.
February 15, 2011
India's Environment Ministry Jairam Ramesh has been portrayed as the devil incarnate by the industrial lobbies as he has struck down various billion dollar realty, mining and power projects.First it was Vedanta's mining project in Orissa,then the Lavasa township in Pune and then power projects in Andhra Pradesh.While some of these infrastructure projects should go ahead with modifications,it has brought some regard for the environment.While some of the projects like the Jaitapur Nuclear Plant in Maharashtra were given the environmental go-ahead despite serious concerns raised by TISS and local citizens,the trampling of ecology by the corporate lobbies seems to have been curtailed.However India's growing economy and its massive energy needs cannot be kept at bay for long.
February 15, 2011
Solyndra is one of the most hyped solar starups which has managed to raise $1 billion in funding and coming out with surprisingly little for the money.Not only did it postpone its IPO but also shut down its first factory as pricess keep diving faster than it can cut costs.Brightsource Energy on the other hand seems to have a brighter future with its unique CSP technology.Also with backers like Alstom and Bechtel,it has the heavy engineering support to construct the massive 392 MW plant.Note other Solar Thermal startups like Ausra and Soliel Systems were bought up by giant engineering conglomerartes Areva and Siemens.Brightsource along with eSolar remain the only pureplay CSP companies still surviving.
February 15, 2011
Carbon Capture and Sequestration (CCS) has been mooted as one of the main weapons against climate change.With little alternative to Coal based power generation,CCS is touted as a temporary solution.However CCS as a global warming solution is like putting lipstick on a pig.The technology for CCS remains immature at best and even the biggest users of coal,the Chinese utilities have ruled out using CCS before 2015.Though big pilot projects have been announced in Australia,USA and UK,CCS is not a serious option as far as dealing with climate change.This however has not prevented companies from playing in this area.Toshiba is the latest company to join the CCS fray hoping to set up a 5 MW pilot plant in JV with India's biggest power utility NTPC.
February 15, 2011
The recent Supreme Court case dealing with the phone tapping of a political leader who has fallen on bad days has revealed an astounding fact.The Indian Government taps more than 100 phones a day just from a single telecom operator.When the Supreme Court castigated Reliance Telecom for tapping the phone based on a phony letter full of bad grammar,the operator revaeled that it had recieved requests to tap 150,000 phones over a period of 5 years.This reveals a massive systematic abuse by the government of its powers.This sort of behaviour seems more like that of a police state like Egypt rather than a flourishing democracy.Talking on the mobile phone has suddenly become a dangerous activity as Big Brother Indian government is listening to most of the country's communications.The recent Nira Radia phone tap leak shows the complete respect for privacy.It is not only the government,the service providers in the country have scant respect for your privacy.Telecom operators,Banks,Travel Agencies will sell your information for a pittance to marketing agencies.Telecom operators will not only sell your information but also the list of all your contacts.
February 15, 2011
Insider Trading is quite rampant in India particularly in mid cap and small cap companies where promoters frequently collude with market operators in rigging up stock […]