B S Yeddyurappa, Others Acquitted in Rs 40 Crore Mining Bribery Case
CBI special court on Wednesday acquitted former Karnataka chief minister and state BJP president B S Yeddyurappa and all others in the Rs 40 crore mining kickback case.
Yeddyurappa's two sons, son-in-law and JSW officials have also been acquitted of all charges by the CBI court in Bengaluru. It is being seen as a huge personal victory for him and the BJP in Karnataka.
Yeddyurappa had been sent to Bangalore central jail October 2011 in connection with the case but was released on bail within three weeks.
He had also unsuccessfully moved both the Karnataka High Court and the Supreme Court seeking quashing of charges against him. Besides Yeddyurappa, two of his sons, BJP MLA B Y Raghavendra, B Y Vijayendra, his son-in-law Sohan Kumar, JSW Steel and its Bellary-based four affiliates were charge sheeted by the CBI for offering and receiving bribe. They have been charged with criminal conspiracy, cheating, forgery and corruption.
According to CBI charge sheet, Rs. 40 crore was paid to a trust run by the Yeddyurappa family in 2010 allegedly for the grant of official favours, including mining licenses, when he was chief ministership from 2008 to 2011.
The CBI special court had examined 216 witnesses in the case. The CBI said the money had allegedly come from South West Mining Company, an affiliate of the JSW Steel. It also said an additional amount of Rs.20 crore was paid to Prerana Trust run by Yeddyurappa family and that it later transferred Rs.6 crore to Swamy Vivekananda Samsthe, in which Yeddyurappa was a trustee.
The Yeddyurappa family was also accused of selling one acre BDA notified land in Bengaluru to a JSW Steel affiliate for Rs.20 crore to cover up the bribe amount. According to investigating agencies the market value of the land at that time was Rs.5.5 crore, and CBI had claimed the money trail was traced
http://www.news18.com/news/india/b-s-yeddyurappa-others-acquitted-in-rs-40-crore-mining-bribery-case-1305206.html
Global renewable power capacity overtakes coal as 500,000 solar panels installed every day
Global renewable electricity capacity has overtaken coal to become the world's largest installed power source for the first time, after a record-breaking year in which half a million solar panels were installed every day.
Some 153 gigawatts (GW) of renewable power capacity – more than the total generation capacity of Canada - was installed during the course of 2015, making it the fastest-growing electricity source, the International Energy Agency said.
This was primarily due to unprecedented expansion of solar and onshore wind, with two new wind turbines installed every hour in China, which was the “undisputable global leader of renewable energy expansion”.
As a result, worldwide renewable capacity hit 1,985 GW, or about 31pc of global power capacity, just pipping coal-fired power, which stands at 1,951 GW, the IEA said.
However, the actual amount of power produced by renewable electricity generators was still significantly lower than that from coal, accounting for 23pc of global power production, compared with almost 40pc from coal plants.
This is because power plants do not generate at their full capacity all the time, with sources like wind and solar able to generate at their maximum capacity only when the wind blows or the sun shines.
The IEA forecast that renewables expansion would continue apace, with 825 GW expected to be built by 2021 – 13pc more than the IEA had forecast just a year ago – “driven by policies aimed at enhancing energy security and sustainability”.
That should help boost the share of renewable power in the global electricity mix to 28pc by 2021, “rapidly closing the gap with coal” in the medium term, the IEA said.
Fatih Birol, the IEA’s executive director, highlighted the “impressive” recent cost reductions in onshore wind and solar panels that he said were “unthinkable just five years ago”.
“This cost reduction trend, which is expected to continue, will be a key factor in driving renewable deployment,” he said, forecasting solar costs would drop by a quarter and onshore wind by 15pc out to 2021.
“Growth is anticipated to be increasingly concentrated in emerging and developing economies, with Asia taking the centre stage,” he said. “In the next five years, the People’s Republic of China and India alone will account for almost half of global renewable capacity additions.
"We are witnessing a transformation of global power markets led by renewables and, as is the case with other fields, the center of gravity for renewable growth is moving to emerging markets.”
While new renewables expansion is primarily focused on wind and solar, by far the biggest existing renewable source remained hydropower.
Some 61pc of installed renewable capacity and 71pc of renewable power output came from hydroelectric sources, according to the IEA. Wind power accounted for 15pc of renewable output, bioenergy 8pc and solar just 4pc.
In the UK, the expansion of renewable power capacity has been driven by a boom in solar capacity in recent years. However, this expansion is forecast to be curbed significantly from this year, following the closure of subsidy schemes.
Onshore wind is expected to be the biggest UK growth sector for renewables next year as the final projects to qualify for subsidies are built.
Thereafter, offshore wind will be the biggest area of growth for UK renewables for the rest of this decade, the IEA predicts, as major projects that have already secured subsidy contracts are constructed.
Power gencos face penalty as coal demand hits a low
Stagnant power demand has pushed the sector to a new low. Around 30 power generating companies (gencos) with cumulative annual contracted quantity of coal (ACQ) of 400 million tonnes (mt) are sourcing the fuel below the lowest permissible threshold stipulated in their fuel supply agreements (FSAs) with Coal India. Senior government officials said this would most likely lead gencos to pay a penalty for sourcing lower amount of coal than that stipulated in the FSAs.
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