Verdurous Solutions Private Ltd

Mysore, India

Verdurous Solutions Private Ltd

Mysore, India
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Srinivasan S.,Verdurous Solutions Private Ltd | Kottam V.K.R.,Verdurous Solutions Private Ltd
Renewable and Sustainable Energy Reviews | Year: 2018

This paper focuses attention on the environmental impacts of solar photovoltaic (PV) module production, use and disposal. The present study estimates the goodwill capital embedded within market valuations of the 9 publicly listed PV module manufacturing firms. These goodwill scores are correlated with the 'solar scores’ awarded by the Silicon Valley Toxics Coalition. Correlation between such scores and the generated goodwill capital appears weak and inconclusive. The study also finds no significant correlation between long-term planning demonstrated by managers within these firms, the environmental impacts of their processes and the goodwill generated among investors. Informing investors of the variants of solar PV technologies, and of the range of potential environmental consequences, could help appropriately internalize risks and rewards. © 2017 Elsevier Ltd


Sunderasan S.,Verdurous Solutions Private Ltd
Green Energy and Technology | Year: 2011

Renewable Energy programs are often sought to be justified on the basis of the private benefits and costs accruing to the individual households, in terms of providing improved lighting, superior cooking fuel, improved indoor air quality and the like. Benchmarking electric power or other services against their respective closest substitutes, namely power from coal fired plants or services provided by burning fossil fuels is incomplete if the differences in environmental impact are not taken into account. This chapter discusses the positive environmental externality accruing from domestic RE programs, to demonstrate that economic surpluses from domestic programs are realized beyond narrowly defined project boundaries. Employing biogas programs to illustrate, it is shown that the economic value addition from the consumptive use of the biogas for cooking, and the non-consumptive and indirect value derived from the biogas plant, viz., providing feedstock for other processes and other such benefits as greenhouse gas mitigation (positive externalities) need to be accounted for. The process approach adopted herein enables an integrated view of the value chain and consequently, a mechanism to reallocate costs and to distribute such surpluses. © Springer-Verlag London Limited 2011.


Srinivasan S.,Verdurous Solutions Private Ltd | Reddy V.K.,Verdurous Solutions Private Ltd
Renewable and Sustainable Energy Reviews | Year: 2016

For Renewable Energy YieldCos to disburse high and growing present-day dividends at the cost of delayed debt-service and avoided capital expenditure is clearly unsustainable. Expecting to issue new stock at ever-higher prices to pay incumbent investors ever-higher dividends represents the foundations of a pyramidal scheme, which is most likely to unravel sooner rather than later. In the medium-term, YieldCos may be expected to offer positive and reasonably stable annualized returns, certainly not entirely “risk-free” as frequently perceived though, displaying characteristics of a bond rather than those of an equity share. This paper also demonstrates the application of the real option valuation framework to prioritize investments into YieldCos with stocks classified in order of the returns they offer, and conditioned by the volatility of such returns. © 2016 Elsevier Ltd


Srinivasan S.,Verdurous Solutions Private Ltd
Sustainable Production and Consumption | Year: 2016

The Verdurous India Index consistently outperforms the market proxy when investors appear optimistic, and underperforms during each downturn: 46.50% (benchmark 17.4%), 22.50 (13.1), 15.53 (15.3), 32.65 (28.3) during four distinct growth phases; and -14.66% (benchmark 16.74%), 18.38 (21.97), 10.30 (9.80) during three distinct downturns. The observed cyclicality in returns from the environment-themed index may be construed as a "correction" of sentiment-in either direction-rather than a substantive alteration in the fundamental value of the underlying portfolio. Tobin's 'q' and marginal 'q' analyses of the index relative to the broader markets reveal that investor perceptions relating to 'efficiency of asset use' drag the broader markets down, and along with it the individual firms constituting the index. However, while 44% of the variability in the marginal 'q' is explained by movements in market capitalization of the Verdurous-index-constituents, 56% of the variability was a function of firm-specific management practices. Yet, the robustness of the index portfolio helps negate this impact to a limited extent. The loss in valuation concurrent with exogenous shocks, and a diminished valuation of the broader markets, would imply that the greener among the firms had not adequately or succinctly signaled their firm and sustained commitment to the natural environment to the investor community. © 2016 The Institution of Chemical Engineers.


Srinivasan S.,Verdurous Solutions Private Ltd
Engineering Economist | Year: 2013

The proliferation of intermittent and distributed sources of power generation leads to potential instability of the utility grid. The unforecastability of weather patterns, cloud cover, and the like and the consequent unpredictability of output from such sources as wind farms and solar power plants aggravate the situation created by unpredictable consumer demand for power. Energy storage has been increasingly seen as a crucial element in resolving the challenge and several electrical, chemical, and mechanical systems have been analyzed. On occasion, storing a unit of electric power could cost more than generating one. This article argues that investments in energy storage should be justified on a stand-alone basis. Trading margins alone are found insufficient to justify economic investments in storage facilities. To sustain investor interest in the long run, such facilities would have to bank and trade energy along the lines of mainstream commercial banks and earn economic profits comparable to alternative applications of funds. This article discusses an economic model involving a two-part tariff: an option price and a trading margin from energy time-shifting. © 2013 Copyright Taylor and Francis Group, LLC.


Srinivasan S.,Verdurous Solutions Private Ltd
Mitigation and Adaptation Strategies for Global Change | Year: 2015

Retaining the option-to-harvest encourages people to cultivate forest stands on private land, and periodic purchases of the option keep the stand intact, thus contributing to a greater good. This paper develops and demonstrates the use of a real-option model to encourage the planting of new biologically-diverse forests, and to help conserve existing forests standing on private land. Payments for ecosystem services (PES) take several forms and several instruments and policies have been designed over the years. This study involves a detailed analysis of literature on PES and of various revenue streams generated by forest stands. It was observed that the option-to-harvest encouraged expansion and conservation of small-scale forests. The methodology adopted and product designed herein involves the purchase of the option-to-harvest at the beginning of each accounting period, especially by timber suppliers, with a view to preventing potentially steep declines in spot timber prices from the potentially excess supply. The incentive structure is simplified to include the interest foregone on the terminal value, reduced by the existential value derived from such delay. The real-option model employing bounded random walk projections is applied to a registered Clean Development Mechanism (CDM) project. Subject to the alternative use of the parcel of land, the option payments are found to represent 3.83–6.57 % of the value of stand conserved. Suitable institutional mechanisms would need to be developed to transfer the option payments to the growers, across large numbers of such projects. © 2013, Springer Science+Business Media Dordrecht.


Srinivasan S.,Verdurous Solutions Private Ltd
Energy Policy | Year: 2014

The Indian political class is known to employ populist, albeit economically unsustainable, measures to replace intrinsic 'valence', especially shortly prior to election windows. Such measures include loan-waivers, interest rate concessions, provision of free electricity for agriculturists, etc. The union government's leverage to maneuver and to micro-manage retail fuel prices within partially deregulated environments is hypothesized to provide incumbents with an advantage over rival contestants in the electoral process. This paper analyzes the evolution in the retail prices of diesel and petrol (gasoline), and the transfer of such evolution, into the inflation index of the 'all commodity' basket. It is observed that when international benchmark prices are relatively low and domestic inflation is moderate, the transfer occurs within about 42 weeks. During periods of high oil prices-frequently above USD 100 a barrel-and high inflation-higher than 5.00-5.50%-prices of petroleum distillates tend to feed into overall inflation more rapidly, within about 34-40 weeks.The study, covering a total of 82 elections for the central and state (provincial) governments during the period 2000 to 2013, concludes that even as patterns of manipulation of prices are apparent, ceteris paribus, such leverage does not necessarily seem to translate into favorable electoral outcomes. This conclusion reiterates observations that economic im/prudence may not necessarily determine electoral outcomes, and that the basis for electoral choices made by the Indian voter-consumer remains subjective. © 2014 Elsevier Ltd.


Srinivasan S.,Verdurous Solutions Private Ltd
Energy Policy | Year: 2013

Electric power has traditionally been classified as a non-traded good, produced and consumed within the country of origin. More recently, electricity has been traded across national borders and in certain cases, viz., Bhutan, has been the dominant export; in other situations, it is used to repay debts owed to neighboring countries. This paper investigates the role of electricity as the primary export, analyzes its valuation, and then goes on to evaluate the impact on the terms of trade. We conclude that in the medium-term, the electric power exporting economy would be better off developing its manufacturing sector to diversify its exposure and to protect its trade interests. The case of Bhutanese hydro-electricity exports to India is studied and the change in trade advantage with every increase in power tariff is ascertained. It is found that a 1.26% annual increase in (non-food) consumer prices is correlated with a 1% increase in electricity export tariff. While the causality from electric power tariff to Indian manufactures prices is not established statistically, a change in manufactures prices feeding back into consumer prices in Bhutan is statistically significant. Suggestions are offered for Bhutan to reduce dependence on Indian imports and to diversify its export market exposure. © 2013 Elsevier Ltd.


Sunderasan S.,Verdurous Solutions Private Ltd
Environmental Science and Policy | Year: 2011

The clean development mechanism (CDM), launched under the Kyoto Protocol is intended to internalize environmental externalities and to help developing countries achieve their developmental objectives employing cleaner, albeit possibly more expensive, technologies, inter alia creating markets for trading of emission reduction certificates ('certified emission reduction' CER). Statistical analyses reveal trends in pricing of Euro denominated CERs, which is interpreted as market inefficiency. Since the exporting countries are required to " liquidate" , " package" and " export" a natural asset, and in real terms, surrender the option to employ certain technologies or to undertake certain initiatives, they should be recompensed through an asset of comparable quality, and more importantly, one on whose valuation the sellers have sufficient control. A currency-basket consisting of major CER exporting country currencies is considered. A specially constructed synthetic currency named the CERO, a weighted average of the CER exporting countries' import partners' currencies is proposed as a second alternative. It is strongly recommended that policy makers negotiating a successor to the Kyoto Protocol actively consider the basket approach to valuation proposed herein. © 2011 Elsevier Ltd.


Srinivasan S.,Verdurous Solutions Private Ltd | Reddy V.K.,Verdurous Solutions Private Ltd
International Journal of Global Energy Issues | Year: 2016

Electricity is presumed to be an essential contributor to economic growth in emerging economies. Whereas earlier research efforts employ traditional measures of growth, namely GDP per capita, to map the impact of electricity, this study chooses to measure the impact of aggregate electricity provision on all-round socioeconomic development as measured by the Human Development Index (HDI). Granger causality tests are run to establish the relationship between electricity and development for a sample of 21 countries chosen on the basis of average annual HDI scores of 4.00 and above cumulated over the periods 1981-1990, 1990-2000 and 2000-2012. For four countries, namely China, Egypt, Morocco and Nepal, unidirectional causality running from electricity consumption to human development was observed, while for Algeria, Egypt, Myanmar, Sudan and Yemen, the reverse was observed. It was found that reducing aggregate technical and commercial losses could improve development outcomes in varying degrees. © 2016 Inderscience Enterprises Ltd.

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