RENEWCONNECT - All about renewables & power sector

Asset Management refers to the systematic process of developing, operating, maintaining, and upgrading assets in a cost-effective way. It involves managing assets throughout their lifecycle to maximize value and ensure their efficient use. Asset management can be categorized into several different types, depending on the types of assets being managed and the sector of application. Here are some of the major types of asset management: 1. Physical Asset Management Definition : Involves managing tangible assets such as buildings, machinery, vehicles, and infrastructure. Industries : Manufacturing, automotive, energy, power, and public infrastructure. Purpose : To maximize the lifespan, efficiency, and reliability of physical assets while minimizing costs through effective maintenance, repair, and replacement strategies. 2. Financial Asset Management Definition : The management of financial assets such as investments in stocks, bonds, mutual funds, and other financial instruments. Industri

The Indian government has kept a target of 175 GW installed capacity using different renewable energy technologies in the country. Currently, the total installed capacity of the country is 367.3 GW of which thermal is 230.72 GW , Nuclear is 6.78 GW , Hydro is 45.4 GW and RE is 84.4 GW as on 31.12.2019. For the month of December 2019 the electricity generated in different power segments is 86.1 BU in thermal, 3.6 BU in Nuclear, 8.9 BU in Hydro and 9.3 BU in RE [1] . Currently, the total renewable installed capacity is 57.472 GW ( 12.5 GW of solar i.e., 21.8% and 32.3 GW of wind i.e., 56.2% ).  Depending upon the current installation frequency, we can forecast whether we can reach the target by 2022 or 2030 . MNRE is exploring with new innovative approach for increasing the capacity of renewable energy in the country and promoting them for the same. [2] Benefits with 175 GW RE target   Reduces the carbon footprints in the country and promotes renewable energy technologies;