Monthly Update March 2021

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Monthly Update March 2021 monthly update March 2021 Lead Sponsors Contents 1. Tenders | 5 New RFS Issued | 5 Re-Tendered | 8 Date extension | 8 Auctions Completed | 9 2. Installed Capacity | 10 3. Investments/ Partnerships | 13 4. Monthly Import-Export Statistics | 16 5. Module Price Trends | 17 6. Monthly SECI Payments | 18 7. Policies and Regulations | 19 4 1. Tenders New RFS • About 2232 MW of renewable tenders were issued in March 2021. SECI Issued alone has issued a project development tender of 1785 MW in Rajasthan. • Auctions were completed for 1800 MW of solar projects. Fig 1.1: Details of new tenders issued in March 2021 SECI, 1785 MW Solar, Rajasthan BHEL, 100 MW, BOS, Gujarat Coal India, 100 MW, Solar PV, Gujarat NHPC, 100 MW, Solar PV, Uttar Pradesh UPNEDA, 75 MW, Solar PV, Uttar Pradesh UPNEDA, 18 MW, Rooftop Solar, Government Buildings NCRTC, 11 MW, Rooftop Solar, Delhi-Meerut Corridor GESCOM, 10 MW, Rooftop Solar, Karnataka UPNEDA, 10 MW, off-grid solar, Uttar Pradesh NVVN, 10 MW, Floating/ Ground Mounted Solar BHEL, 10 MW, Solar, WBSEDCL, West Bengal ITI, 1.2 MW, Rooftop or Ground Mounted, Kerala ITI, 1.2 MW, Rooftop or Ground Mounted Solar, Karnataka SPMCIL, 1 MW, Solar 0 400 800 1200 1600 2000 Capacity (MW) Source: JMK Research 5 Table 1.1: New RFS issued Commis- sioning Bid Sub- Tender Capaci- Minimum Tender Name Technology Other Details timeline mission Scope ty (MW) CUF from PPA Date signing SECI, 1785 MW PBG – INR 0.8 Utility Scale Project Devel- 20th- Solar, Rajasthan, 1785 million 17% 18 months Solar opment Apr-2021 Mar 2021 NHPC, 100 MW, Solar PV, Uttar Utility Scale 5th- EPC 100 12 months Pradesh, Mar Solar May-2021 2021 Coal India, 100 PBG - equivalent to MW, Solar PV, Utility Scale 15th- EPC 100 3% of the contract 28.9% Gujarat, Mar Solar Apr-2021 amount 2021 PBG – 10% of the BHEL, 100 MW, Utility Scale purchase order’s 10th- BOS, Gujarat, BOS 100 Solar basic value Mar-2021 Mar 2021 PBG – INR 1.05 UPNEDA, 75 million MW, Solar PV, Utility Scale Project Devel- 7th- 75 Ceiling tariff – INR 17% 15 months Uttar Pradesh, Solar opment Apr-2021 3/kWh Mar 2021 UPNEDA, 18 MW, Rooftop 26th- Solar, Govern- Rooftop Solar 18 Mar-2021 ment Buildings, Mar 2021 NCRTC, 11 MW, Rooftop Solar, 8th- Delhi-Meerut Rooftop Solar RESCO 11 48 months Apr-2021 Corridor, March 2021 BHEL, 10 MW, Solar, WBSED- Utility Scale EMD - INR 0.51 31st- O&M 10 CL, West Ben- Solar million Mar-2021 gal, Mar 2021 NVVN, 10 Floating/ MW, Floating/ Ground 6th- Ground Mount- EPC 10 Mounted Apr-2021 ed Solar, Mar Solar 2021 6 Commis- sioning Bid Sub- Tender Capaci- Minimum Tender Name Technology Other Details timeline mission Scope ty (MW) CUF from PPA Date signing UPNEDA, 10 MW, off-grid Security amount – Small Scale 31st- solar, Uttar 10 3% of the contract’s 9 months Solar Mar-2021 Pradesh, Mar total value 2021 Indigenously GESCOM, 10 manufactured MW, Rooftop solar panels (both 12th- Rooftop Solar 10 Solar, Karnata- cells and modules) Apr-2021 ka, Mar 2021 should be used for this project EMD – INR 0.5 ITI, 1.2 MW, million Rooftop or Small Scale Performance Secu- 13th- Ground Mount- 1.2 15% 8 months Solar rity Deposit – 5 % of Mar-2021 ed, Kerala, Mar the total contract 2021 value EMD – INR 0.34 ITI, 1.2 MW, million Rooftop or Small Scale Performance Secu- 21st- Ground Mount- 1.2 15% 8 months Solar rity Deposit – 5 % of Mar-2021 ed Solar, Karna- the total contract taka, Mar 2021 value SPMCIL, 1 MW, Small Scale 23rd- 1 Solar, Mar 2021 Solar Apr-2021 PBG: Performance Bank guarantee EMD: Earnest Money Deposit Source: JMK Research 7 Re-Tendered Table 1.2: Re-tendered Commis- Bid sioning Minimum Sub- Tender Name Technology Tender Scope Other Details timeline CUF mission from PPA Date signing GUVNL, 700 MW, Utility Scale Project EMD – INR 0.4 million/MW 12th- Solar, (Phase IX-R), 17% 15 months Solar Development PBG – INR 0.94 million/MW Apr-2021 Mar 2021 GUVNL, 100 MW, Utility Scale Project EMD – INR 0.4 million/MW 12th- Solar, (Phase X-R), Mar 15 months Solar Development PBG – INR 0.94 million/MW Apr-2021 2021 Source: JMK Research Date Extension Table 1.3: Date Extension Commis- Tender Tender Capacity Other De- Minimum Bid Submis- Technology sioning Name Scope (MW) tails CUF sion Date timeline SECI, Pan In- EMD – INR 0.5 dia, 2500 MW, Utility Scale Project Devel- million/MW 2500 30 months 8th-Apr-2021 Thermal + RE, Solar opment PBG – INR 0.1 Mar 2020 million/MW SECI, 50 MW, Solar PV and Solar and Agro Project Devel- Agro PV , Ta- 50 18 months 5th-Apr-2021 PV opment mil Nadu, Jan 2021 8 Commis- Tender Tender Capacity Other De- Minimum Bid Submis- Technology sioning Name Scope (MW) tails CUF sion Date timeline SECI, 25 MW, Solar PV, West Utility scale EMD: INR 0.4 EPC 25 9 months 9th-Apr-2021 Bengal, Jan solar million 2021 SECI, 15 MW, EMD – INR 13.5 Floating Solar, Project Devel- million Bilaspur, Him- Floating Solar 15 21% 18 months 4th-May-2021 opment PBG – INR 27 achal Pradesh, million Jul 2020 Source: JMK Research Auctions Completed Table 1.4: Auctions completed Capac- Capacity Mini- Commissioning Tender ity ten- Status allotted mum timeline from PPA Winners Details Name dered (MW) CUF signing (MW) • Adani – 300 MW (INR 2.77/kWh) SECI, 1200 • Ayana Renewables – 300 MW (INR 2.78/ MW, Wind kWh) Auction (Tranche • Evergreen Power Mauritius – 150 MW (INR Complet- 1200 1200 22% 18 months X), Pan 2.78/kWh) ed India, Dec • JSW Future Energy – 450 MW (INR 2.78/ 2020 kWh) • Sprng Energy – 120 MW (INR 2.2/kWh) GUVNL, • NTPC– 150 MW (INR 2.2/kWh) 500 MW, Auction • Coal India– 100 MW (INR 2.2/kWh) Solar PV Complet- 500 500 17% 18 months • TP Saurya (Tata Power) – 60 MW (INR 2.2/ Phase XII, ed kWh) Gujarat, • SJVN – 70 MW (INR 2.21/kWh) Jan 2021 Source: JMK Research 9 2. Installed Capacity In February 2021, a total of 395.14 MW of solar and wind energy capacity was added, taking the cumulative RE capacity to 92.97 GW as on February 28th, 2020. Fig 2.1: State-wise installations in Solar and Wind during February 2021 - 395.14 MW Cumulative Installations Capacity installed in February 2021 all Hydro Sm er 5% ow 300 P % io 11 B 250 Research JMK MNRE, Source: S o 4 l 2 a 200 % r 100%= 92.97 GW 150 100 Capacity (MW) Capacity % 2 50 4 d n i W 0 Solar Wind Tamil Nadu added the maximum solar capacity whereas Gujarat added maximum wind capacity in Feb 2021 of about 87.7 MW and 61.9 MW respectively. Fig 2.2: State wise Utility scale Solar Wind installed capacity in Feb 2021 100 80 Source: MNRE, JMK Research JMK MNRE, Source: 60 (MW) 40 20 Capacity 0 Tamil Nadu Rajasthan Gujarat Karnataka Madhya Others Pradesh 10 Recently Commissioned Projects Table 2.1: List of recently commissioned projects Capaci- Date of Project Developer Name Technology State ty (MW) Commissioning Renew Power Wind 300 Gujarat Mar-2021 Adani Green Energy Wind 100 Gujarat Mar-2021 THDC India Limited (NTPC arm) Solar 50 Kerala Mar-2021 Solar (Captive AMP Energy Open Access 28 Uttar Pradesh Mar-2021 Project) Adani Solar 25 Uttar Pradesh Mar-2021 Waaree Energies Limited Solar 16 Maharashtra Mar-2021 Purushotam Solar 3 Rajasthan Mar-2021 Source: Industry news articles, JMK Research Cleanmax Solar moves into the wind-solar hybrid space • Cleanmax Solar has entered into the wind-solar hybrid projects space for the first time, commissioning 110 MW of projects. The new policies of the Gujarat and Andhra Pradesh state governments has inspired Cleanmax Solar for taking this step. NTPC to commission India’s largest floating solar power plant at Ramagundam by May • NTPC Southern Region, which is in the process of implementing about 450 MW of solar capacity, is all set to commission about 217 MW floating solar capacity, including one of the largest floating solar power plant of 100 MW at Ramagundam by May this year. • These floating solar projects are coming up at Ramagundam power pro- ject (100 MW), which will be single location largest floating solar plant in the country as of now, 92 MW floating unit at Kayamkulam gas plant in Kerala and a 25 MW unit at Simhadri power plant. 11 www.renesola.com Bringing Solar Power to the World 2.5+ GW Solar PV Modules Supplied in India Features: • Globally reputed & recognised International brand • Well equipped Sales & Technical support staff in India Contact us: • TIER-1 Solar PV Module manufacturer Office: 1711-1713, Spaces, 17th Floor, • High conversion efficiencies modules Max Towers, Sector- 16B, Noida (UP)-201301, INDIA • Easy installation & handling • Cost competitive Hand Phone: +91-9654537744 • Certified by TUV, UL, BIS and other International labs Email: [email protected] • ISO9001, OHSAS18001, ISO 14001 Certified 3. Investments/ Partnerships Table 3.1: Investment and Deals in March, 2021 Stakes Asset Deal Company Name Deal Type Sector Investor Ac- acquired Value quired Around 873 MW of wind capacity will be $ 961 Greenko Energy Holdings Acquisition Wind 21.8% added into Greenko’s Orix Corporation million portfolio. Power Trading Corpora- $ 275 Acquisition Wind 288 SJVN tion India (PTC Ltd) million Standard Chartered Bank, Intesa Sanpaolo, MUFG Bank, Sumito- mo Mitsui Banking Corporation, Cooperative Rabobank U.A., Adani Green Energy Lim- Renew- $ 1.35 Debt DBS Bank Ltd., Mizuho Bank, ited (AGEL) able billion Ltd., BNP Paribas, Barclays Bank PLC, Deutsche Bank AG, Siemens Bank GmbH and ING Bank N.V Solar Avaada Energy Acquisition (group 21.32 Bharti Airtel 8.53% captive) $ 61.45 Shapoorji Pallonji Acquisition Solar 75 Adani Green Ltd 100% million The deal will give Edelweiss Infrastruc- ture Yield Plus access Edelweiss Infrastructure Yield Engie (India) Acquisition Solar 74% to 2 GW of solar Plus assets that Engie is developing Japan International Cooperation Tata Cleantech Capital Renew- Agency (JICA) $ 91.38 Debt Ltd able co-financed with Sumitomo million Mitsui Banking Corporation.
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