Bangalore First a Celebration. Positive News, Facts & Achievements about Bengaluru, Kannadigas and all the People of Karnataka – here at Home and Overseas
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    Six years ago, Deepak and Deepika Dorai moved to Bangalore from Chennai, where they had started a unique artistic movement called Bimba. They used to run their art hut out of an old home that was razed to the ground — you can almost hear the pain in his voice when Deepak talks about this. Yet, today, the Dorais have successfully recreated their dream project in Bangalore – a distinctive public space for art and performance that is teeming with activity and enterprise.

    One of the most cheering aspects of Bimba the Art Ashram is perhaps the space where it’s run: a 100-year-old building on DVG Road in Basavanagudi that was falling into disrepair before the Dorais lovingly restored it. Belonging to an old Bangalore family that has given the Dorais the run of the place, the house, with its many traditional features, could act as a template for how old structures in the city, facing the threat of demolition, can be revived. “It is a house in which 42 children were born; you can say this is very fertile ground,” says Deepak.

    To convert the house from a private residence to a public space, Deepika, whose creative energies have directed all the changes, first began by tearing down the boundary walls to create a more open feel. The original pillared entrance has been retained, and as you enter through it you can feel the temperature drop a few degrees, thanks to old-world construction features such as stone and red-oxide floors, high ceilings and hollow-brick walls.

    Deepika uses the rooms within the main house to run her artifacts and furniture gallery, and this is also where she retails her clothing line. Deepika creates some unique hand-crafted furniture, ‘upscaling’ old and discarded tables, chairs and beds into one-of-a-kind items. “This is something people working in newspapers before the computer age would remember,” says Deepak pointing to a large metal tray sectioned into small squares – a linotype used in hot-metal typesetting. These ‘trays’ have been used by Deepika to make cupboards (they act as  the doors) and a coffee table (mounted by glass).

    Bimba also hosts live performances every Saturday, and these include shows such as one by a practitioner of the Karnataka rod puppetry tradition, a talk by a musicologist on the Jogis’ folk music or a classical vocal Carnatic performance. Along with these, what draws most people to Bimba on Saturdays is the Rasalok theatre – this is also what the ‘art hut’ has become most famous for in recent years. The Dorais call this ‘still theatre of miniature art’; at its  essence these are vibrant storytelling performances using miniature figures and three-dimensional sets, again hand-crafted by Deepika. Most stories are mythological in nature, and two narrations take place in adjoining rooms done by Deepika and her mother Uma Nagraj. These performances form an essential part of Bimba’s activity calendar especially during Navratri, when day-long sessions are held.

    EARTH-SENSITIVE ART

    While promoting the ideas of earth-sensitive art, we also like to draw people into our performances and our miniature theatre, through which we tell stories that have their roots in mythology. This story-telling tradition has been in my family for generations; my grandmother MN Susheelamma evolved and finetuned the making of a 3-dimensional still scene on a mini-stage as part of her Navaratri festival offering. The key to the visual magic lay in her sense of aesthetics, period and proportions in the miniature space. This practice was continued and improvised upon by my mother Uma Nagraj, who now composes and narrates a magical moment every year. I’m trying to carry on this great artistic tradition.

    Deepika Dorai, Founder, Bimba the Art Ashram

    source: http://www.timesofindia.indiatimes.com / Home> City>  Bangalore / by Shrabonti Bagchi , TNN / April 29th, 2012

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    From 176  restaurants in 2006,  Koramangala now boasts 432 restaurants, which showcases this business is a jackpot. But be careful before trying your hand at setting up a restaurant of your own, warns  Sajit Chacko, co-founder of  AST Foods in an interview with ET. He advises aspiring restaurateurs to understand challenges, like food inflation and starting with low investments. Edited excerpts:

    How did you start AST Foods and how many restaurants do you own in Koramangala?

    We are three of us who started AST Foods. We all are passouts of the Institute of Hotel Management (IHM) and have an experience of 10-15 years. I used to do projects for The Leela and then I thought why don’t we open something on our own and that triggered the idea of AST Foods in 2006. We have three restaurants in Bangalore out of which Umerkot is in Koramangala, which was our first restaurant too.

    What was the initial investment?

    The three of us contributed Rs 3 lakh each and started Umerkot with a seed capital of Rs 9 lakh. Since, we had less capital we took a bank loan where we got 40 percent of the cost and had to repay it in five years. In order to get the restaurant running and spread its flavours, we availed services from our old contacts and goodwill in the industry.

    What challenges did you face in this competitive business?

    Umerkot was a challenge due to lack of capital. We took the place in Koramangala as it was cheap at that time. Our cuisine is niche – Akbari Gharana – mughlai but non-spicy food. People were skeptical about our restaurant. It became more challenging in the first six months, as the Shinivagalu Main Road where we are located was not well-constructed so nobody would come to our restaurant. I would say that the first year was challenging but then we took off with our niche fan following of people aged above 30 years.

    What kind of growth have you seen since inception?

    Apart from having loyal customers, the broken road got constructed which became a common road for many more localities in south Bangalore. This helped us to breakeven in two years, which is very difficult in this business. We paid our five-year bank loan in three years. In 2008, when slowdown shook the economy, we also got affected. Though our business dropped to 40 percent that year, we did not bleed since we have a conservative business model. Our business was at its peak in 2009-2010. In 2009, we saw maximum footfalls. We marked around 10 percent revenue increase per annum. We don’t target crazy profits. As I mentioned earlier, we follow a conservative business model. After 2010, profit has been growing at around 3-5 percent per annum.

    What is driving the growth of restaurants in Koramangala?

    Koramangala is the centre of attraction for south Bangalore. Just like villagers visit the city to hang out, south Bangalore flocks to Koramangala. This locality is an IT hub having maximum disposable income. These Kormangala techies enjoy fine dining and a relaxed ambience, which is driving the growth of restaurants in this tony locality. Moreover, in 2007-10, real estate in nearby areas had undergone development that attracted lot of people. They all frequent Kormangala restaurants.

    What is your future plan?

    Our plan is to open a new restaurant in every two years.

    Tell us about the business.

    Restaurant business is a combination of retail and manufacturing. A manufacturing unit takes 8-9 years to breakeven whereas a retail unit can achieve that in six month to 2.5 years. Sustaining the combination of retail and manufacturing is a tough game.

    This business is very dynamic and every city and locality has different restaurant patterns. For instance, Bangalore has seen a complete shift in restaurant patterns, population has doubled since a large number of migrants have settled here and all of them have different tastes. In Koramangala, there were 176 restaurants in 2006 now there are 432. Though the figures denote that restaurant business in Koramangala is a jackpot, one should also consider that every month five restaurants opens and three shut down.

    Manufacturing drove the Indian economy and no novice tried entering the food sector. Only Udupi opted for this segment. In 2012, the restaurant business transformed. Novices are entering this business and experimenting. It is tough to say who will click as the trend amongst consumers keeps changing. You can see parents eating in some old restaurant and children trying new food or vice versa. Biggest challenge in this industry is that of food inflation. Nobody talks about it or understands it before venturing into it. Food inflation keeps on fluctuating. If grains are short supplied, chicken prices rise. But one cannot keep changing the price in the menu.

    Thus, restaurant business will go flat if these factors are not considered and handled well. Restaurant business is unlike regular retail that pays later on.

    Which are the biggest industry opportunities for aspiring entrepreneurs in Koramangala?

    I can’t suggest business ideas but can talk about seed opportunities in the area. Koramangala has distinctively two types of people, – one who wants maximum comfort coupled with good services and second – who wants value for money and are less dependent on services. I would suggest enterprising people to keep this in mind and take forward from the segment they want to cater. Business like organic food retailing can click well in the area.

    What message you would like to give to budding restaurateurs?

    The real trick is to start small, as capital is a big challenge. Go for the business where your strength lies instead of flowing with the trend. For example, if you have Rs 10, then observe the market carefully and go for a business where you can make Rs 10 to Rs 12 faster.

    source:  http://www.economictimes.indiatimes.com / The Economic Times / Home> Opinion> Interviews / by Rashi Varshney, ET Bureau / April 29th, 2012

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    April 27th, 2012adminBusiness & Economy, Sports

    Dhruv Mullick’s only agenda is to bet on sporting talent that is off the beaten track. Inspired by the celluloid story Jerry Maguire, city-based Dhruv has set his sights on the Indian hockey team. A sports entrepreneur, Dhruv is building the brands of two promising hockey players — Raghunath and SK Uthappa just before the Olympics season heats up.

    “My idea is to get hockey to a platform where these fantastic players are identified by even school kids. To build brands which can compete with leading cricketers’ brands. But this is just the beginning and we are taking baby steps,” says the entrepreneur. With the London Olympics fast approaching, Dhruv thought this was the right time to build a glamorous image of a much neglected sport. “Raghunath is a typical Kodava lad. His brutal strength as a drag-flicker and commitment to the sport makes him the perfect poster boy of the team. While Uthappa’s talent and the coach’s (Michael Nobb) high ranking, makes him a bankable player. These traits make them brands in themselves,” says Dhruv.

    But the going hasn’t been easy. “It is extremely difficult in a cricket-crazy nation to sell non-cricket sports. But the tougher the challenge, the better it gets. The only focus now is to get them as much exposure as possible before the Olympics,” says the shrewd marketing professional. Dhruv who has a BA honours in international business and economics, has trained as a sports brand manager under big names of the Indian sports arena. But his most memorable experience was with cricketing legend Sunil Gavaskar. “The opportunity to work for him and interact with him, is something that I cherish even to this day,” says Dhruv.

    Though hockey is his favourite sport, he cannot hide his love for cricket. Not just for school teams, he also managed to play the first cricket season at the university in London. “I played for Regents College during 2004 just for the first season,” he reminisces, adding, “I have a Sunday cricket club with friends. I also play a bit of hockey. But my skills lie off the field,” says Dhruv.

    His plan ahead is to ensure that both Raghunath and Uthappa’s brands take off in a big way. The smart entrepreneur concludes by remembering his favourite line from Jerry Maguire, “Show me the money.” And we do hope that hockey as a sport can do that.

    source: http://www.DeccanChronicle.com / Home> Tabloid> Bengaluru / by Ayesha Tabassum, DC / April 26th, 2012

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    April 24th, 2012adminBusiness & Economy, Leaders

    In an interview to CNBC-TV18, Irfan Razack, chairman and managing director of  Prestige Estates Projects says, he expects sales of Rs 2,000 crore in FY13.

    Below is the edited transcript of his interview on CNBC-TV18. Also watch the accompanying video (at http://www.moneycontrol.com/news/business/expect-salesrs-2000-crorefy13-prestige-estates_695590-0.html)

    Q: I will start with your Chennai project where we understand there has been quite a strong response which has been received. Can you just take us through the details of that first?

    A: The Chennai project is in Porur. Name of the project is Bella Vista. We launched it on the Pongal day this year. It has done amazingly well. It is totally more than four million sq ft and it has 2,600 apartments. As of date, we have sold little over 50% of the project, which is fantastic, in just about three months time.

    Q: Can you give us an idea of the Bangalore commercial market? We understand that office rents, especially commercial property rents are improving there. On a six months basis year-to-date 2012, how much better is it compared to 2011?

    A: In the fiscal year 2011-2012, we have been fortunate, we have leased out something like 3.1 million sq ft of office space. The demand is still there and leasing is still going on. I believe even this year i.e. 2012-2013 we will touch another three million sq ft of leasing. When I say it is our company, overall I think last year Bangalore leasing was something like ten million sq ft. So, pretty much we get a 30% market share here.

    Even in Chennai, we completed one of our developments called Prestige Palladium of Mount Road, on Greams Road, even that has done very well, the entire building has been leased out as of date at good rental yields. I believe though the supply may have slowed down because people would have been a little cautious, hence the offtake is quite good. So, the rents also have stabilized and are doing well.

    Q: What is the trajectory on rents? Since you spoke about volume as well, give us an idea of how it compares with year ago levels both volume of property that is moving as well as the rents at which they are moving?

    A: The rents have gone up. Infact, they have to go up, there is no choice because the input costs have gone up. Also, the good thing is that the supply is getting slowed down a bit, hence the demand-supply ratio gap is not that great and hence the rents also have got pushed up. On the Outer Ring Road, today, we are talking of rentals between Rs 45 and Rs 50, which a year ago we would have been talking of between Rs 38 and Rs 42.

    Q: What your project pipeline for FY13 would then look like? Also what sort of pricing do you expect because there are some brokerages which do expect you not to move that much on pricing in order to increase volumes?

    A: Infact, I would probably not want the prices to move up because again if I breach my affordability barrier, my volumes and my selling stops. So, as far as I am able get my product in place, the pricing and my costing right, I would rather keep on producing and offering it to the customers at a very reasonable and affordable number.

    When I say affordable, it could be affordable in any bracket that is there. Like last year it has been a fantastic year for us, we had given a guidance of Rs 1,500 crore of sales in the FY11-FY12. We have exceeded the Rs 2,000 barrier. I think we are in the range of Rs 2,100 crore is the sales that we have done in FY11-12.

    I believe even that same trend will continue in this current year. Though my guidance, I won’t be giving Rs 1,500 crore, but I will be giving a guidance of Rs 2,000 crore for the next year. Hope, we exceed that.

    But price range, we are trying to see that even if it goes up, it goes up marginally. So, it helps by us to keep buying and the product doesn’t go out of their rich. Now, with the interest rates going down by half a percent and the likelihood of it going down further because hopefully the economic factors provide for it, I think there will be much more activity.

    Q: You said Rs 2,000 crore, you mean FY13 revenues, is that what you are referring to?

    A: I am talking about sales. There is a difference between what sales I clock during a financial year and what revenues I book. Our revenues are linked to completion of 30% and occupancy certificates and all of that. So, sometimes the revenue trigger doesn’t kick in. But if you look at it, the volume of sales we have done at some 3,500 in 68 units in FY11-12. We have crossed Rs 2,000 crore barrier. In the year 2012-2013, it will be a guidance of Rs 2,000 crore.

    Q: I was looking for a guidance on revenues, what kind of percentage growth in revenues you can expect?

    A: Revenues will be lumpy. Though I will have this in the pipeline, ofcourse FY13 booked revenues will be much larger than FY12 because all the sales that I have done in 2011-2012 and 2010-2011 will start coming in for recognition in financial year 2013. Margins also will be pretty much the same as what we have had in the current year. I think margins will hold out.

    Q: What is your debt and your debt/equity?

    A: Right now, we are looking at a debt/equity ratio of about 0.5 with an overall net debt of about 1,000 crore. Even this debt more than 50% probably even 60% of this debt is basically leased rental discounting, most of our debt that we have is more for capex project. Even if there is some debt on my residential, it is only just to see that there is some bit of flexibility. It is where the capex projects, whether it is hospitality or retail or even office where we are retaining for rental, those are the ones that will consume the cash for the debt.

    source: http://www.monecontrol.com / MoneyControl> Home> News> Business>  Business News / source: CNBC-TV18 / Monday, April 23rd, 2012

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    April 24th, 2012adminArts, Culture & Entertainment, Leaders

    Caption: Hamsalekha interacting with kids during Belli Hejje programme yesterday. Karnataka Chalanachitra Academy Chairperson Tara looks on.

    Mysore, Apr. 22

    Music director and lyricist Hamsalekha, who composed the famous song Kurak Kukralli Kere for the Kannada film Nenapirali and bagged an award for it, participated in an interaction programme Belli Hejje at Vanaranga of Rangayana on the banks of Kukkarahalli lake last evening.

    The programme was organised by Karnataka Chalanachitra Academy. Journalist and music critic Suresh Chandra interacted with Hamsalekha and asked questions based on his life and works on behalf of the audience.

    Born as Govindaraju Gangaraju in Kannambadi village near KRS, he got the pen name Hamsalekha after entering the film industry. He has directed music for 300 Kannada films and has scored background music for more than 3000 film.

    “I entered the industry as a lyricist with the song Neena Bhagavanta for the film Triveni in 1971. I debuted as a musician with the 1981 film Rahuchandra,” he said.

    “My father was a stage artist. I too would accompany him on stage and got attracted by the rural language. This was my inspiration to write songs,” he added.

    When asked about the secret of his success, Hamsalekha said, “Those in music field, in addition to their style of composing, should learn to love life. Only then can they succeed. Many who practice classical music hesitate to experiment. But, we do not hesitate. This is also a reason for my success.”

    On a suggestion from the audience to write a song on the soldiers who protect our country, Hamsalekha assured to do so.

    A documentary on Hamsalekha was screened on the occasion. District In-charge Minister S.A. Ramdas released a booklet on Hamsalekha. Academy Chairperson Tara Anuradha explained the purpose of extending Belli Hejje to other districts instead of just in Bangalore.

    source: http://www.StarofMysore.com / General News / April 22nd, 2012

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    Caption: K.R. Ramakrishna, Commissioner, Department of Archaeology, Museums and Heritage.

     

     

    Mysore, Apr. 20

    The historic Mysore Dasara will be included in the list of World Heritage, said the newly-appointed Commissioner of the Department of Archaeology, Museums and Heritage, K.R. Ramakrishna.

    Visiting the city for the first time after assuming office, Ramakrishna, in a tete-a-tete with SOM on Wednesday, recalled that though the State government had attempted to get the Mysore Dasara listed under the UNESCO, it had failed to effectively portray the festival as of having heritage value.

    “Dasara does not mean the present day Yuva Dasara, Mane Mane Dasara, Rangoli Dasara, Yoga Dasara etc. Accept it or not, it is a legacy of the erstwhile rulers of Mysore kingdom, the traditional grandeur of which has been retained and followed to this day in the form of Dasara celebration. This aspect should have been impressed upon the UNESCO delegation. We have prepared a list of drawbacks and will make attempts to eliminate them. Then we will portray Dasara in its original form before the UNESCO,” said Ramakrishna and expressed confidence that it would be accepted.

    Asked if preparations were on for it, Ramakrishna said that the matter had already been discussed with the DC. Though the Republic Day is celebrated on a large scale, it cannot be termed as traditional. It portrays the achievements of the Government and the Defence forces. But Mysore Dasara portrays the royal grandeur of the yore and historical significance.

    “We have Police and other security personnel with modern equipment and modern uniform. But at the Palace, we will try to create the ambience of royalty, with security personnel and other staff clad in regalia, giving the Palace a heritage touch,” he said, adding that discussions were held with the Principal Secretary of the State government, who also is the Chairman of the Palace Board.

    Regarding the conservation of heritage monuments in Mysore, Ramakrishna said that Mysore has been declared as a Heritage City, along with Srirangapatna, Kittur, Bijapur, Gulbarga and Bidar.

    “A total of 269 monuments have been listed as heritage structures in Mysore. They will be conserved as new guide-lines. Some buildings owned by private persons that were erected close to the heritage monuments have been demolished,” he said and added that the Bidaram Krishnappa Rama Mandira on Narayana Shastri road will be conserved as a heritage monument.

    source: http://www.StarofMysore.com / General News / April 20th, 2012

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    April 21st, 2012adminArts, Culture & Entertainment

    Caption: K.R. Ramakrishna (second from right), Commissioner, Department of Archaeology, Heritage and Museums, looking at the display of heritage monuments at Mahajana Tourism Development Institute in city yesterday as former AIISH Director Dr. N. Rathna, Institute Secretary Srinivas and Director Prof. K.S. Nagapathi look on.

    Mysore, Apr. 19

    Guidelines for the conservation and protection of heritage monuments in the State will be formulated in three months’ time, said K.R. Ramakrishna, Commissioner, Department of Archaeology, Heritage and Museums.

    He was speaking after inaugurating the World Heritage Day celebration held under the aegis of Mahajana Tourism Development Institute in city yesterday.

    “There are 769 heritage monuments and buildings in the State and conserving them will be a priority for which guidelines will be formulated,” he said and added that under the 13th Financial Plan, a sum of Rs. 25 crore has been granted for this purpose from the Centre while Rs. 14 crore has been granted under the Department of Archaeology and another Rs. eight crore under the Heritage department.

    A programme will be formulated to utilise these grants, he said, adding that conserving the heritage structures of Mysore was considered a priority.

    “At present, we are facing shortage of manpower to take up conservation works. Hence, plans are afoot to form Heritage Conservation Clubs, involve local people and use their services for conservation works by paying them wages,” he added.

    source: http://www.StarofMysore.com / General News / Thursday, April 19th, 2012

     

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    April 21st, 2012adminSports

    Mysore, Apr. 21

    The 27th Himalayan Expedition to Nanda Devi East Base camp organised jointly by Rotary Mysore Adventure Corps and International Academy of Mountaineering & Allied Sports (IAMAS) was flagged off this morning at Rotary Centre on JLB Road here by Col. Satish Sharma, Commanding Officer, 1 Kar Engr. Coy, Mysore.

    The tricolour and expedition flag was handed over to the expedition team of 28 youths including 8 women who have reportedly come from Mysore, Bangalore, Calicut and Cochin.

    The team will fly to Delhi enroute to Manali. The 10-day expdition will cover various base camps through an arduous trek at Himalayas with a panoramic view of the glaciers, a true test of adventure spirit and grit of the team members, according to the organisers. Rotary Mysore President T.K. Chittaranjan, IAMAS Chairman Anil Kumar, Secretary T. Rajeev and Founder D.S.D. Solanki were present.

    source: http://www.StarofMysore.com / General News / Saturday, April 21st, 2012

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    Sanju Rao, Excalibur Foundation, Bengaluru

    On a Sunday last February, in a cloister close to Ramaiah Hospital, Bengaluru, over a hundred children in green uniforms participated in Sparsha Trust’s Annual Day Function: dancing, rangoli sketching, performing acrobatics, competing in relays.

    These children were the poorest of the poor: the abandoned, the orphaned, the ones wandering the streets in search of a meal or menial work or secluded pavement spaces to sleep on runaways, drug addicts or beggars.

    Sparsha was founded by a handful of young graduates with master’s degrees in social work. They began in June 2006 by building a centre –  Shikshana Mitra- in the slums of the Yeshwanthpura Singh communities. The centre was imagined as a shelter where the  slum children would be safe, where they would be nurtured, tutored and transitioned into mainstream schools.

    After three years, Sparsha’s first batch of seven children aced their exams and graduated from school. Today, five of them are attending top universities.

    Other batches of children followed, tutored by Sparsha staff, brought up to speed with the syllabus in mainstream schools, and subsequently admitted to these school. The children attended school during the day and were tutored and mentored by Sparsha staff in the evenings.

    Over time the local community came to appreciate Sparsha’s work. Sparsha encouraged them to get involved with Shikshana Mitra – to value superior aspirations for their children as they excelled in studies.

    Over a few years, Sparsha was in a position to hand over the management of the centre to the community itself. Some children – products of Shikshana Mitra – also took ownership of the centre and of the responsibilities entailed with running it. They eventually made the centre their own – independent of Sparsha – and self-sufficient.

    Sparsha’s staff spent days, weeks and even months entreating parents to send their children to Sparsha’s centres where children can be cared for and educated. Most parents prefer that their children work alongside them at construction sites or beg or look after their shanty homes.

    After conducting awareness programmes spanning over six months among a community of pavement dwellers, Sparsha’s team convinced parents to send their children to Chinnara Thangudhamma in Shivaji Nagar – away from the streets and squalor – where children were provided de-addiction programmes, offered a clean home, fully furnished hostel with bathrooms, trunks for their belongings, smart uniforms, toys, school materials and three nutritious meals daily courtesy an immaculate kitchen and a versatile cook; essentially everything to lead a nurturing, healthy life.

    They are taken to playgrounds; those requiring psychiatric treatment are admitted to Nimhans; all children receive health check-ups, medical treatment and dental care. They are also taught sex education, counselled to deal with psychological and emotional problems, motivated to equip themselves with literacy – the means to deliver them from destitution.

    Like Chinnara Thangudamma, every Sparsha centre is designed to provide children their right to lead lives of dignity – away from degrading streets and hazardous construction sites where they toil under the scalding sun.

    The safety, comfort and education from Sparsha inspire in them the confidence and ambition to pursue careers that empower them to climb out of poverty.

    Sparsha has built a sophisticated, resourceful children’s library and a ‘Multi-Dimensional Learning Center’ for computer training. The founding members of this young  NGO, that now has over 180 children directly under its aegis,have set themselves a new target – Mission 2015 – a shelter home to house and care for up to 1,000 children.

    source: http://www.articles.economictimes.com / Home> News> News by Industry> ET Cetera> Education / April 18th, 2012

     

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    April 20th, 2012adminScience & Technology

    Karnataka Renewable Energy Development Ltd. (KREDL, Bangalore, India) has allocated the first 80 MW of solar photovoltaic (PV) and concentrated solar power (CSP) projects through the Karnataka Solar Energy Policy.

     

    Karnataka awards contracts for 80 MW of photovoltaic and Concentrating Solar Power

    Karnataka Renewable Energy Development Ltd. (KREDL, Bangalore, India) has allocated the first 80 MW of solar photovoltaic (PV) and concentrating solar power (CSP) projects through the Karnataka Solar Policy, following a delay due to legal complications.Contracts for 20 MW of CSP and 60 MW of PV projects were awarded in this first round of bidding. The lowest bid came in at INR 7.94/kWh (USD 0.152/kWh) by Helena Power Pvt. Ltd. for a 10 MW PV plant and the highest successful bid at INR 8.50/kWh (USD 1.63/kWh) by Welspun Solar AP Pvt. Ltd. for a 7 MW PV plant. 

    Other successful bidders include Sunborne Energy Services India Pvt. Ltd. and Atria Power Corporation Ltd., each with 10 MW CSP plants, and Jindal Aluminum Ltd., GKC Project Ltd. and Sai Sudhir Energy Ltd. each with 10 MW PV plants.

    Additionally, ESSEL Infrastructure Ltd. – Gulbarga and ESSEL Infrastructure Ltd. – Badami will build 5 MW PV plants, with United Telecoms Ltd. finishing off the batch with a 3 MW PV plant.

    Under the terms of the program, CSP projects must be commissioned within 30 months of signing a power purchase agreement, and PV projects within 18 months.

    The total amount of CSP allocated was shifted from 30 MW to 20 MW due to insufficient interest. Bridge to India states that this is due to project sizes being limited to 10 MW under the program, which is a less economically viable size for CSP plants.

    www.kredltest.in

    source: http://www.evwind.es / Inicio> Home> Wind and other RE / April 20th, 2012

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