JAPAN/TAIWAN: Report: SoftBank and Foxconn Bring India Some of World’s Cheapest Solar in the world, helping Prime Minister Narendra Modi reach his ambitious clean-energy goals #AceFinanceDesk – @AceFinanceNews

#AceFinanceReport – May.12: Companies led by SoftBank Group Corp. of Japan and Taiwans Foxconn Technology Co. Ltd. are bringing India some of the cheapest solar power in the world, helping Prime Minister Narendra Modi reach his ambitious clean-energy goals #AceFinanceDesk

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SoftBank and Foxconn Bring India Some of World’s Cheapest Solar Companies led by SoftBank Group Corp. of Japan and Taiwan’s Foxconn Technology Co. Ltd. are bringing India some of the cheapest solar power in the world, helping Prime Minister Narendra Modi reach his ambitious clean-energy goals.

In two auctions this week for renewable-energy power-purchase contracts, bids from companies to supply clean electricity slid to as little as 3.8 cents a kilowatt-hour. The record is sharply below the previous bids around 5 cents and within striking distance of the lowest recorded bids in the United Arab Emirates and Chile as of quarter three of 2016, according to Bloomberg New Energy Finance.

India is already among the most competitive generators of solar power after establishing auctions for capacity that drew capital both from western utilities and from development banks anxious to help Modi clean up his country’s notorious smog. Each new auction over the past two years has helped India’s renewable-energy generators close the gap with the lowest cost fuels such as natural gas and coal, said Shantanu Jaiswal, an analyst for BNEF in New Delhi.

“The low bids leave very little cushion for absorbing any unforeseen expenses, and thus pose a risk for investors and lenders,” Jaiswal said, adding that several new power producers have successfully underbid incumbents to gain entry into India’s rapidly expanding solar market.

In a contest to win contracts for 500 megawatts of solar capacity through a competitive tender, India’s Acme Group quoted 2.44 rupees (3.8 cents) a unit to win 200 megawatts. SBG Cleantech Ltd. — the clean-energy joint venture between Japan’s SoftBank Group Corp., India’s Bharti Enterprises Pvt. and Taiwan’s Foxconn Technology Group — quoted 2.45 rupees to scoop up the remaining capacity, said Sanjay Sharma, general manager at the Solar Energy Corp. of India, the government agency for renewable targets in India.

The projects will be built in the sunny state of Rajasthan in the Bhadla solar park.

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On Wednesday, the price of solar power in India fell to 2.62 rupees a kilowatt-hour in a competitive tender for contracts to build 250 megawatts in the same solar park.

Of the total 750 megawatts auctioned this week in two federal tenders, including today’s, conducted by the Solar Energy Corp. of India, SoftBank’s India clean energy venture scooped up a total of 400 megawatts quoting lowest tariffs.

Friday’s auction was the third for solar this year. The first, held in February, brought down solar tariffs to 3.30 rupees (5 cents) a kilowatt-hour, from 4.34 rupees (7 cents) a year earlier.

India is among a growing list of countries stretching from Asia to Europe and South America that have used auctions to make clean energy more affordable. Modi’s government has an ambitious plan to install 175 gigawatts of renewable capacity by 2022 to meet the fast-growing country’s electricity needs and to curb pollution.

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BEIJING, China. Blocked from investing in US and Chinese investors cancel contracts and look to Israel for sealing deals worth $16.5-billion #AceFinanceDesk – @AceFinanceNews

#AceFinanceNews – May.12: Struggling to seal deals in the United States as regulatory scrutiny tightens, Chinese companies looking to invest in promising technology are finding a warmer welcome for their cash in Israel #AceNewsDesk

Blocked From US Tech Investing, China Goes To Israel Instead
Published on May 12, 2017 at 08:00AM From a report: Unfazed by this change, which was brought on in part by a new administration focused on US protectionism, Chinese investors are putting their money in Israeli companies instead.

Last year, Chinese investment in Israel surged tenfold to $16.5 billion, a record, with money going to Israeli internet, cybersecurity and medical device companies. In contrast, Chinese investors scrapped a record $26.3 billion in previously announced US deals.

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IMF Proposed a Capital Levy – Tax on Money in Bank Accounts & Raise Property Taxes Armstrong Economi cs reports #AceFinanceDesk – @AceFinanceNews

#AceFinanceReport – May.12: The International Monetary Fund (IMF) is always the cheerleader to raise taxes to support government. They are instructing Germany to raise taxes and also talking about just imposing a 10% tax on all money that deposits in banks throughout Europe. Yes – you read that one correctly.

Armstrong Economics: IMF Proposed a Capital Levy – Tax on Money in Bank Accounts & Raise Property Taxes the IMF has told Germany it should raise its property tax, cut social welfare contributions and invest more to reduce income inequality. The demands are contentious in an election year. Once again the IMF has demanded higher taxes on savings deposits in Germany. Germany must do more for to raise taxes to impose more socialistic idea to somehow tax the rich to create a broader participation of all citizens in the fruits of economic growth, if somehow raising taxes actually ever creates economic growth. The IMF warns that there is a relatively high tax burden on lower incomes with a comparatively low burden on assets.

The IMF argues for higher taxes on property are in fact necessary and that the government should demand higher wages to also give impetus to the growth in Germany, yet this is magically creating no inflationary impact. Years ago, Italy simply imposed a tax on money in one’s account. This was called a “capital levy”. This was a one-time charge as an exceptional measure to restore the sustainability of the debt. The IMF is also suggesting that measure be invoked to help the coming Sovereign Debt Crisis. The attractiveness of such a measure is that such a one-time tax can be levied before a tax evasion can even occur, especially if cash is eliminated and money can only exist in bank accounts. This requires the belief that this measure is unique and never repeated.

The IMF has already calculated how much the measure would cost every Eurozone citizen:

“The amount of the tax would have to bring the European sovereign debt back to the pre-crisis level. In order to reduce the debt to the level of 2007 (for example in the euro area countries), a tax of about 10 percent is needed for households with a positive asset. “

As you can see, there is NEVER any discussion about reducing taxes or the size of government. The solution is always to raise taxes and to not even look at the old Italian trick of a 10% seizure of all cash in your account. We highly recommend to diversify to assets that are MOVABLE and not subject to taxation merely to possess.

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