DOCSLIB.ORG

INDIA SOLAR COMPASS 2017Q2 © BRIDGE to INDIA, 2017 2 Preface

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
INDIA SOLAR COMPASS 2017Q2 © BRIDGE to INDIA, 2017 2 Preface INDIA SOLAR COMPASS 2017Q2 © BRIDGE TO INDIA, 2017 2 Preface Dear Reader, I am delighted to present to you our new, more comprehensive India Solar Compass. As the Indian solar market matures and grows in volumes, we have expanded the scope of this report to pack all vital information – tender and project updates, leading players, financing deal flow, policy status etc. The Compass aims to provide you with not just an update on the previous quarter but also an insight into the coming quarters. I hope that it will give you a unique vantage point on the sector dynamics in a concise yet comprehensive format. I have no doubt that there is huge scope for improvement in both content and format. Please help us with your feedback. The Compass shall be a paid report from next quarter onwards. You have a number of subscription options – for more details, please contact [email protected]. Sincerely, Vinay Rustagi Managing Director © BRIDGE TO INDIA, 2017 3 Contents 1. Introduction 5 2. Total installed capacity 6 3. Capacity addition 10 3.1 Slowdown in capacity addition in Q2 2017 10 3.2 Capacity addition estimate for Q3 2017 13 4. Leading players 15 4.1 Leading developers based on capacity commissioned in Q2 2017 15 4.2 Solar modules 15 4.3 Inverters 16 5. Tender progress updates 17 5.1 Increase in tender issuance (and cancellations) 17 5.2 Tender result announcements 21 5.3 Anticipated tenders 25 6. Pricing updates 26 6.1 EPC costs 26 6.2 Solar modules 26 6.3 Inverters 27 7. Financing 29 7.1 Equity funding 29 7.2 Debt funding 30 7.3 Mergers and acquisitions 31 8. Policy and regulatory updates 33 8.1 Central government 33 8.2 State governments 34 8.3 Other updates 35 9. Key market insights 38 9.1 GST implementation to result in temporary hiccups 38 9.2 Low tariffs to halt solar tracker market 38 9.3 India begins transition from 1,000V to 1,500V systems 39 10. Relevant international developments 40 10.1 Extension of China’s FIT deadline to delay cycle of 40 module price reduction 10.2 Suniva’s safeguard petition to add to increased 41 global Q3 and Q4 demand 10.3 US withdrawal from Paris accord not to have any 41 long-term impact on India 10.4 Increasing adoption of mono c-Si and PERC technology 42 © BRIDGE TO INDIA, 2017 4 1. Introduction Q2 2017 was a landmark period in the Indian solar sector, when tariffs fell below M 3.00/ kWh level making solar power the cheapest new source of power in India. At these tariff levels, solar power becomes financially attractive for distribution companies (DISCOMs) and other large users. It is no longer a regulatory or environmental compulsion. But India’s energy transition is not proving to be easy. Tariff reduction of 40% in last year has resulted in several ongoing tenders being scrapped as states and other agencies are redesigning their procurement schemes. More worryingly, some states including Uttar Pradesh, Andhra Pradesh and Tamil Nadu are seeking to renegotiate or cancel previously allocated projects (at higher tariffs). It is a testing time for project developers, investors and lenders who are anyway facing many other challenges. Key highlights of the quarter: • More than 3,000 MW of new tenders were announced, greater than the aggregate of all new tenders announced in previous three quarters. But at the same time, 2,100 MW of tenders were scrapped. Slowdown in project allocation has become a major concern for developers, who are struggling to find new project opportunities and deploy their capital. This, in turn, is leading to fierce competition in tenders and reduced returns. • After falling faster than expected over the last year, module prices started firming up towards the end of the quarter. Prices are expected to remain firm for another 2-3 months driven by strong demand from China and the USA (in anticipation of possible safeguard duties). Availability is also becoming very tight and is likely to lead to delays in project execution timelines for Q3 and Q4. • Goods and Services Tax (GST) was introduced from July 1, 2017. The industry is relieved that modules qualify for a concessional rate of 5%, but there is still confusion about the rate on other equipment. Overall, we expect a net increase in project cost of 3-8% depending on GST rate for other equipment. • On the financing side, private equity and M&A activity in the sector remains buoyant. There is huge investment interest in the sector and we expect M&A deal flow to accelerate as primary project pipeline slows down. While the sector still presents an immense growth opportunity in the long run, developers and manufacturers face considerable challenges in the short run. But it can now be termed as a mature market, which means that all incentives and support mechanisms will be withdrawn over time as noted by the draft National Energy Policy (NEP). © BRIDGE TO INDIA, 2017 5 2. Total installed capacity India’s total installed solar power generation capacity reached 15,611 MW on June 30, 2017. Total project pipeline, where projects have been allocated to developers, stands at 12,250 MW. Figure 2.1: Total installed and pipeline capacity as on June 30, 2017 Source: BRIDGE TO INDIA research Note: All figures are in MW Performance of leading states for both utility scale solar and rooftop solar is shown in the following charts. © BRIDGE TO INDIA, 2017 6 Figure 2.2a.: Utility scale solar installed and pipeline capacity Source: BRIDGE TO INDIA research Notes 1. The Jharkhand state tender for 1,200 MW, issued in March 2016, is not included as it is likely to be cancelled. 2. All numbers and comments in this report apply to utility scale solar unless explicitly mentioned for rooftop solar. © BRIDGE TO INDIA, 2017 7 Figure 2.2b. Rooftop solar installed capacity Source: BRIDGE TO INDIA research Top 20 developers account for 60% of total commissioned and pipeline capacity. Greenko has commissioned the highest capacity so far (1,082 MW). Adani (1,157 MW) and Acme (1,150 MW) have the largest capacities in pipeline. © BRIDGE TO INDIA, 2017 8 Figure 2.3: Top 20 developers Source: BRIDGE TO INDIA research Note: HPPPL- Hindustan Power Projects Private Limited © BRIDGE TO INDIA, 2017 9 3. Capacity addition 3.1 Slowdown in capacity addition in Q2 2017 After a bumper Q1 2017 (end of FY17), pace of commissioning in Q2 2017 was relatively slow. While anticipated capacity addition, based on PPA signing dates and commissioning schedule, was around 3,300 MW, actual addition was only 1,437 MW. Out of this, 635 MW (44%) came from central policy projects and 802 MW (56%) from state policy projects. 1,047 MW (75%) of the commissioned capacity was in the open category while the remaining was under domestic content requirement (DCR). Figure 3.1 New capacity addition in Q2 2017 Source: BRIDGE TO INDIA research Telangana installed the highest capacity in Q2. The state is also likely to deploy more capacity than any other state in the coming quarter. © BRIDGE TO INDIA, 2017 10 Figure 3.2 State-wise capacity addition in Q2 2017 Source: BRIDGE TO INDIA research Key reasons for slippages in capacity addition Telangana 2,000 MW tender: Around 1,680 MW of the 2,000 MW tender was due to be commissioned in Q2 but only 640 MW came online bringing total capacity commissioned so far to 920 MW. Several projects have faced delays due to land related issues, delays in statutory approvals etc. Key developers who commissioned capacities in Q2 are Shapoorji Pallonji (100 MW), ReNew (143 MW) and Acme (255 MW). SECI Maharashtra 450 MW tender: The tender saw only 170 MW come online by three developers - Orange renewables (100 MW), Bhageria Industries (30 MW) and Sepset constructions (40 MW). Another 180 MW capacity (Atha group, Suzlon and SolarArise) is likely to be commissioned in Q3 2017. The remaining 100 MW capacity allocated to Welspun is unlikely to be commissioned during the next six months. When Welspun sold its project portfolio to Tata Power in September 2016, it retained the 100 MW project because of Solar Energy Corporation of India (SECI) stipulation that developers cannot sell more than 49% stake until a year after commissioning. Welspun has paid M 84 million in delay penalties and filed a petition in the Delhi High Court to restrain SECI from cancelling the project. NTPC Rajasthan 420 MW tender: Projects under this tender were due to be commissioned in Q1 2017. 140 MW was commissioned by Fortum (70 MW) and Rattan India (70 MW) in Q1 2017 while Solairedirect has partially commissioned its 90 MW project in Q2 2017. Remaining 190 MW capacity (Rising Sun and Solairedirect) is likely to be commissioned in Q3 2017. © BRIDGE TO INDIA, 2017 11 Madhya Pradesh 300 MW tender: 150 MW of capacity awarded to SkyPower was due to be commissioned in Q2 2017 but commissioning is likely to be delayed beyond Q4 2017. Remaining 150 MW has already been commissioned in previous quarters. Punjab 500 MW tender: These projects were due for commissioning in Q4 2016 and there is still around 125 MW pending. Pending projects were awarded to Today Group and there is a lack of clarity about their commissioning status. Figure 3.3 Actual commissioning vs anticipated commissioning for Q2 2017 Source: BRIDGE TO INDIA research, company interviews Note: Anticipated commissioning estimates include slippages from previous quarters Rooftop solar - Around 264 MW of capacity is estimated to have been added in Q2 (137% increase over Q2 2016), which saw a rush for completion of projects due to the impending GST implementation.
Load more

Recommended publications
  • “Power Finance Corporation - Investors Interaction Meet”
    “Power Finance Corporation - Investors Interaction Meet” May 31, 2018 MANAGEMENT: TEAM OF POWER FINANCE CORPORATION:- - Mr. Rajeev Sharma - Chairman and Managing Director - Mr. D. Ravi - Director (Commercial) - Mr. C. Gangopadhyay - Director (Project) - Shri Sitaram Pareek - Independent Director Page 1 of 23 Power Finance Corporation May 31, 2018 Speaker: Good Afternoon, Ladies and Gentlemen. On behalf of Power Finance Corporation, we feel honored and privileged to welcome you all to this Investors Interaction Meet. The company recently announced its financial results for the year 2017-18 and has been successful in maintaining its growth trajectory. PFC is always aiming to connect with its investor and build a strong and enduring positive relationship with the investment community. With this objective, today’s event has been organized to discuss PFC’s current performance and future outlook with the current and prospective investors. On the desk in the center is Chairman and Managing Director -- Shri Rajeev Sharma along with the other directors. To my immediate left is Shri DRavi – Director, Commercial. Next to him is Shri C Gangopadhyay – Director, Projects. To my extreme left is Shri Sitaram Pareek – Independent Director and beside him is Shri N.B. Gupta – Director, Finance. They are all in front of you to give a brief insight of PFC’s performance during the financial year 2017-18. They will also present to you a roadmap for the forthcoming year. I request Shri Rajeev Sharma -- Chairman and Managing Director to address the gathering. Rajeev Sharma: Thank you very much for sparing your valuable time to be present here during this interaction.
    [Show full text]
  • Favourable Time for Embracing Sustainable Solar Energy in the Next Decade
    RESEARCH PAPER Engineering Volume : 6 | Issue : 5 | May 2016 | ISSN - 2249-555X | IF : 3.919 | IC Value : 74.50 A Study on Solar Rise: Favourable Time for Embracing Sustainable Solar Energy in The Next Decade KEYWORDS Solar PV, National Solar Mission, carbon emissions, energy security. Kachita Kohli Tanya Navin Kohli BE Mech Engg Vth Sem, UIET, Punjab University, BTech, Power System Engg, UPES, Dehradun Chandigarh. ABSTRACT Solar PV technology converts sunlight directly into electricity, is among the fastest growing segments of the renewable energy industry in India. Solar PV already established in many countries including India, and set to become one of the key technologies of the 21st century. Some of the factors driving the growth of this seg- ment are concerns towards carbon emissions, energy security and the rising prices of fossil fuels. Union Cabinet on 15.06.2015, stepped up India’s solar power capacity target under the National Solar Mission by five times, reaching 1,00,000 MW by 2022, which will principally comprise of 40 GW Rooftop and 60 GW through Large/ Medium Scale Grid Connected Solar Power Projects. INTRODUCTION India being a tropical country receives adequate solar ra- “The importance of this Mission is not just limited to diation for 300 days, amounting to 3,000 hours of sunshine providing large-scale grid connected power. It has the equivalent to over 5,000 trillion kWh. Almost all the re- potential to provide significant multipliers in our efforts gions receive 4-7 kWh of solar radiation per sq mtrs with for transformation of India’s rural economy.
    [Show full text]
  • RE-INVEST 2018 Ceos CONCLAVE 5 OCTOBER 2018
    RE-INVEST 2018 CEOs CONCLAVE 5 OCTOBER 2018 | INVITEE LIST # Name Designation Organisation 1 Mr Martin Hermann CEO & Founder 8minute Energy 2 Mr Manoj Kumar Upadhay Founder, Chairman & Managing Director Acme Group 3 Mr Jayant Parimal CEO Adani Green Energy 4 Mr Vineet Jain CEO Adani Power and Infra 5 Mr Akinwumi Adesina President African Development Bank Group 6 Mr Sanjeev Aggarwal Managing Director & CEO Amplus Solar 7 Mr Takehiko Nakao President Asian Development Bank, Manila (Philipines) 8 Mr Jin Liqun President Asian Infrastructure Investment Bank (AIIB) 9 Mr Inderpreet Wadhwa Founder & CEO Azure Power 10 Mr Tejpreet Chopra Chairman & Managing Director Bharat Light & Power Pvt Ltd 11 Mr Kuldeep Jain Managing Director Clean Max Solar 12 Mr Rajiv Ranjan Mishra Managing Director CLP India Pvt Ltd 13 Mr Gopal Singh Chairman Coal India 14 Mr Rajesh Srivastava Director CosLight 15 Mr Akbar Shamji Managing Director CPEC Ltd 16 Mr K Krishan Chairman CVC (India) Infrastructure Ltd 17 Mr Nandeesh Kumar HR Director Finance Emmvee PV 18 Mr Daniel Elliot CEO Enerblu 19 Mr Ashok Agarwal Whole-time Director Essel Infra & Utilities 20 Mr Werner Hoyer President European Investment Bank (EIB) 21 Mr Anant Nahata Managing Director EXICOM 22 Mr David Rasquinha Managing Director (Additional Charge) EXIM Bank 23 Mr Sujoy Ghosh India Head First Solar 24 Mr Sanjay Aggarwal Managing Director Fortum 25 Mr Ramesh Kymal Managing Director Siemens Gamesa Renewable Energy 26 Mr Mahesh Palashikar CEO, Onshore Wind Asia Pacific Region GE 27 Mr Anil Kumar Chalamalasetty Founder, Chief Executive & Managing Director Greenko Energies Pvt Ltd 28 Mr Siddharth Mayur Founder President & CEO H2E Power Systems INC.
    [Show full text]
  • Photovoltaic Systems Growing: an Update
    International Journal of Engineering Research and Technology. ISSN 0974-3154, Volume 13, Number 9 (2020), pp. 2288-2296 © International Research Publication House. https://dx.doi.org/10.37624/IJERT/13.9.2020.2288-2296 Photovoltaic Systems Growing: An Update Ntumba Marc-Alain Mutombo Department Electrical Engineering, Mangosuthu University of Technology, Durban, KwaZulu-Natal Abstract II. PHOTOVOLTAIC CELL STRUCTURE AND ENERGY CONVERSION The photovoltaic (PV) technology as the third renewable energy (RE) generation source is growing faster than most of the RE The PV technology was born at Units States in 1954 with the technology due to intense research performed in this field. This development of the silicon PV cell made by Daryl Chapin, last year has seen an important growing of PV technology in Calvin Fuller and Gerard Pearson at Bell labs. This cell was able efficiency, cost, applications, capacity and economy. The global to convert enough SE into electricity for house appliances [2]. total solar PV installed capacity in 2018 is dominated by APAC The term PV referred to the operating mode of photodiode (China included) with 58 % of solar PV installed capacity, device in which the flow of current is entirely due to the follows by Europe (25 %), America (15 %) and MEA (2 %). transduced light energy. Based on their structure and operating mode, all PV devices are considered as some type of photodiode. Even with a decline of 16 % in 2018, the global solar PV market Fig. 1 shows the schematic block diagram of a PV cell. continue to be dominated by China with 44.4 GW installed in 2018 against 52.8 % GW in 2017.
    [Show full text]
  • Environmental and Social Impact Assessment (ESIA) of a 250 MW (DC) Solar PV Project in Noore Ki Bhoorj
    Environmental and Social Impact Assessment (ESIA) of a 250 MW (DC) Solar PV Project in Noore Ki Bhoorj, Rajasthan Clean Solar Power (Jodhpur) Private Limited Final Report 25 October 2019 Project No.: 0501073 The business of sustainability ENVIRONMENTAL AND SOCIAL IMPACT ASSESSMENT (ESIA) OF EXECUTIVE SUMMARY A 250 MW (DC) SOLAR PV PROJECT IN NOORE KI BHOORJ, RAJASTHAN Final Report Document details The details entered below are automatically shown on the cover and the main page footer. PLEASE NOTE: This table must NOT be removed from this document. Document title Environmental and Social Impact Assessment (ESIA) of a 250 MW (DC) Solar PV Project in Noore Ki Bhoorj, Rajasthan Document subtitle Final Report Project No. 0501073 Date 25 October 2019 Version 2.0 Author Karishma Sharma, Saumabha Bhattacharya, Karan Masand Rai Client Name Clean Solar Power (Jodhpur) Private Limited Document history ERM approval to issue Version Revision Author Reviewed by Name Date Comments Draft 00 Karishma Reela Mishra Neena Singh 22.04.2019 - Sharma, Ajay Pillai Saumabha Bhattacharya, Karan Masand Rai Draft 01 Karishma Reela Mishra Neena Singh 24.04.2019 - Sharma, Ajay Pillai Saumabha Bhattacharya, Karan Masand Rai Final 00 Karishma Reela Mishra Neena Singh 05.07.2019 - Sharma, Ajay Pillai Saumabha Bhattacharya, Karan Masand Rai Final 01 Karishma Reela Mishra Neena Singh 14.10.2019 Added desk- Sharma, Ajay Pillai based information Karan Masand based on Rai discussions held with HFE and AIIB. Final 02 Karishma Reela Mishra Neena Singh 25.10.2019 Added information Sharma, Ajay Pillai on transmission Karan Masand line route, gender Rai component and HFE audit checklist.
    [Show full text]
  • 66 50 08 28 10 30
    VOLUME 10 Issue # 9 66 INTERNATIONAL OWNER : FirstSource Energy India Private Limited PLACE OF PUBLICATION : 95-C, Sampat Farms, 7th Cross ENERGY STORAGE Road, Bicholi Mardana Distt-Indore Future of batteries – Winner takes all? 452016, Madhya Pradesh, INDIA Tel. + 91 96441 22268 www.EQMagPro.com EDITOR & CEO : ANAND GUPTA [email protected] 50 PUBLISHER : ANAND GUPTA PRINTER : ANAND GUPTA TRENDS & ANALYSIS SAUMYA BANSAL GUPTA [email protected] PUBLISHING COMPANY DIRECTORS: ANIL GUPTA PV MANUFACTURING ANITA GUPTA Gluing Instead Of Soldering New teamtechnik stringer connects high-effciency HJT cells CONSULTING EDITOR : SURENDRA BAJPAI HEAD-SALES & MARKETING : GOURAV GARG 28 [email protected] 30 Sr. CREATIVE DESIGNER ANAND VAIDYA [email protected] GRAPHIC DESIGNER : RATNESH JOSHI PV MANUFACTURING BUSINESS & FINANCE SUBSCRIPTIONS : Solar developers ask government LONGi Solar’s Export to India GAZALA KHAN CONTENT to rethink on manufacturing... Reaches an Apex ... [email protected] Disclaimer,Limitations of Liability While every efforts has been made to ensure the high quality and accuracy of EQ international and all our authors research articles with the greatest of care and attention ,we make no warranty concerning its content,and the magazine 10 is provided on an>> as is <<basis.EQ international contains advertising and 08 third –party contents.EQ International is not liable for any third- party content or error,omission or inaccuracy in any advertising material ,nor is it responsible for the availability of external web sites or their contents The data and information presented in this magazine is provided for informational purpose only.neither EQ INTERNATINAL ,Its affiliates,Information providers nor content providers shall have any liability for investment decisions based up on or the results obtained from the information provided.
    [Show full text]
  • India's No.1 Solar Energy Media Business Events-Print
    Front Inside Conver | … THAT’S CREATING CLIMATE FOR CHANGE For an organization that is into renewable energy, Vikram Solar has always believed in actions that lead to a better tomorrow. Our continuous improvement in quality and service is spurred by our futuristic outlook. A change that is sustainable, reliable and beneficial to all. With our state-of-the-art manufacturing equipment, robust R&D processes and systems to drive manufacturing excellence, we are meeting energy requirements efficiently and on an environmentally sound basis. Because more than just creating solar energy, we believe it’s about creating a climate for change. ROOFTOP SOLUTIONS EPC SOLUTIONS SOLAR MODULES | … THAT’S CREATING CLIMATE FOR CHANGE For an organization that is into renewable energy, Vikram Solar has always believed in actions that lead to a better tomorrow. Our continuous improvement in quality and service is spurred by our futuristic outlook. A change that is sustainable, reliable and beneficial to all. With our state-of-the-art manufacturing equipment, robust R&D processes and systems to drive manufacturing excellence, we are meeting energy requirements efficiently and on an environmentally sound basis. Because more than just creating solar energy, we believe it’s about creating a climate for change. ROOFTOP SOLUTIONS EPC SOLUTIONS SOLAR MODULES 28397832 Making Solar Systems Smarter THREE PHASE INVERTER WITH SYNERGY TECHNOLOGY combining large scale with ease of installation Join us at Havells booth 1.63 Learn about our commercial and residential PV solutions www.solaredge.com Production Capacity - 20K Sets / Day TUV Rheinland certified - IEC62790 Compact Design & High Performance IP68 (CTI - PLC0) 1000VDC / 1500 UDC System Voltage TUV Rheinland DhaSh PV Technologies Private Limited Contact : Plot No-110D, Bommasandra Bangalore - 560099, INDIA Tel : +91 80 4865 7676 Website: www.dhashtec.com [email protected] MINISTRY OF NEW AND RENEWABLE ENERGY MESSAGES RenewX 2018 I am delighted to welcome you to the 3rd edition of RenewX, the two-day Renewable Energy trade expo, by UBM India.
    [Show full text]
  • Solar Power Park in India- UPSC FACTS
    07 April, 2021 Solar Power Park in India- UPSC FACTS GS-Paper-3 Renewable Energy – Infrastructure development- Prelims & UPSC Interview Context: Renewable energy mainly solar energy is the most important topic of discussion in 21st Century, when the World has faced the problem of Climate change and energy security. This topic is highly important for UPSC mains examination under Paper-3 Infrastructure and Energy security. India lying in tropical belt has an advantage of receiving peak solar radiation for 300 days, amounting 2300-3,000 hours of sunshine equivalent to above 5,000 trillion kWh. India’s current installed solar power capacity, according to Central electricity authority, is 26025.97 MW which is 34% of total renewable energy sources i.e, 75055.92 MW till February 2019. With its pollution free nature, virtually inexhaustible supply and global distribution, solar energy is very attractive energy resource. India's Intended Nationally Determined Contributions (INDC’s) commitment include 100 GW of solar power out of 175 GW renewable energy by 2022. There are more than 40 Major Solar power plants in India, which generates atleast 10 MW of power. Below-table gives the list of 10 major solar power parks in India Sl.No Solar Power Park in India 1 Bhadla Solar Park, Rajasthan 2 Pavagada Solar Park, Karnataka 3 Kurnool Ultra Mega Solar Park, Andhra Pradesh 4 NP Kunta, Andhra Pradesh 5 Rewa Ultra Mega Solar, Madhya Pradesh 6 Charanka Solar Park, Gujarat 7 Kamuthi Solar Power Project, Tamil Nadu 8 Ananthapuramu – II, Andhra Pradesh 9 Galiveedu solar park, Andhra Pradesh 10 Mandsaur Solar Farm, Madhya Pradesh Major Solar Power Plants in India – Brief Details Bhadla Solar Park 1.
    [Show full text]
  • Oct/Nov 2017
    Renewable Energy Monitor July-September 2018 Policy Delhi cabinet approves rooftop solar power for housing societies Govt's first solar panel manufacturing tender draws zero response MNRE proposes shortening commissioning period for solar projects Finance ministry reinstates safeguard duty on solar panels and modules Government sets schedule for state entities to float solar tenders India's energy deficit down to 1% in four years: NITI Aayog At 62.8 GW, India using just 7% of renewable energy potential. Saubhagya to energise 5K houses sans power UP government announced subsidy of Rs 15,000 /KW for development of solar projects Karnataka beats world leaders in renewable energy capacity Solar Solar tariffs once again hit all-time low of Rs. 244 a unit at SECI auction Andhra Pradesh solar park in Kadapa: Lowest bid at Rs 2.7 per unit India beats China in industrial solar heat installations Rooftop solar power installations cross 1 GW Cap on solar tariffs a threat to capacity addition plans, project viability: Ind-Ra Tata Power installs solar rooftop solution at Cricket Club of India, Mumbai 100 MW Veltoor solar power plant in Telangana gets quality certification Country’s first biofuel aircraft flagged off from Doon Gujarat leads India in approved capacity at solar parks. Self-cleaning solar panels developed by Hyderabad- based ARCI Odisha's power trader Gridco to buy 300 MW from ensuing SECI auctions IISER Bhopal develops organic solar cell using vitamin B12 derivative RE Monitor July/ September 2018 2 CLP India and Suzlon to Partner for 70 MW of Solar Projects in Maharashtra CERC allows GST as 'Change in Law' for solar projects, recovery of tax paid.
    [Show full text]
  • Evaluation of Competitiveness of Power Plants: Evidence from India
    Journal of Economics and Economic Education Research Volume 21, Issue 4, 2020 EVALUATION OF COMPETITIVENESS OF POWER PLANTS: EVIDENCE FROM INDIA Himmat Singh Ratnoo, Maharshi Dayanand University, India Santosh Kumar Dubey, Hindustan Power Private Limited, India ABSTRACT This study attempts to gauge the relative performance of a set of large size coal-based power stations of India. The primary data for the study were collected through survey questionnaires for relevant operating and performance parameters for India’s 18 coal-based power stations including Mundra and Saasan Ultra-Mega Power Projects (UMPPs). Data Envelopment analysis (DEA) has been used in the study to gauge the relative performance of Mundra UMPP with Saasan UMPP and other large size coal-based power stations of the country. The classical DEA model has been used to distinguish the efficient coal power stations from rest of the large sized coal-based power stations of the country. Power stations with total installed generation capacity of 2000MW or more each were selected for the study. The study indicates the need and scope for improvement in the performance of power plants for sustainable industrialisation and urbanisation. KEYWORDS Coal-based power plant, Power plant, Competitiveness, Performance, Data envelopment analysis, India INTRODUCTION The aggregate installed power generation capacity of India as on the date of comparison for this study, i.e. 31st March 2016, was 3,02,087.84 Mega Watt (MW) (CEA Annual Report, 2016). Out of this, thermal power generation accounts for 2,10,675.04 MW (69.73%) and coal- based power alone constitutes for 1,85,172.88 MW (61.30%) of the total electricity produced in the country (CEA Report).
    [Show full text]
  • India 2020: Utilities & Renewables
    Deutsche Bank Markets Research Industry Date 19 July 2015 India 2020: Utilities Asia & Renewables India Utilities Utilities Abhishek Puri Research Analyst (+91) 22 7180 4214 [email protected] F.I.T.T. for investors Make way for the Sun India solar power investments could surpass that of coal India has made an exceptional commitment to solar energy by raising its 2022 target five-fold to 100GW and its Renewable Energy target to 175GW. The government has announced an unprecedented policy push and states are providing the necessary infrastructure. Annual investments in solar could surpass investment in coal by 2019-20, with USD 35bn committed by global players. For local IPPs, solar has to be an inherent part of their expansion strategy, as RE obligations become strictly enforceable and cost of coal power increases. NTPC, Adani and RPWR are ahead in this development cycle which adds 10-15% to our current valuations. NTPC is our top pick. ________________________________________________________________________________________________________________ Deutsche Bank AG/Hong Kong Deutsche Bank does and seeks to do business with companies covered in its research reports. Thus, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. DISCLOSURES AND ANALYST CERTIFICATIONS ARE LOCATED IN APPENDIX 1. MCI (P) 124/04/2015. Deutsche Bank Markets Research Asia Industry Date India 19 July 2015 Utilities India 2020: Utilities Utilities FITT Research & Renewables Abhishek Puri Research Analyst Make way for the Sun (+91) 22 7180 4214 [email protected] India solar power investments could surpass that of coal Top picks India has made an exceptional commitment to solar energy by raising its 2022 NTPC Limited (NTPC.BO),INR135.15 Buy target five-fold to 100GW and its Renewable Energy target to 175GW.
    [Show full text]
  • Solaire Surya Urja Private Limited
    Solaire Surya Urja Private Limited April 01, 2019 Summary of rating action Previous Rated Amount Current Rated Amount Instrument* Rating Action (Rs. crore) (Rs. crore) [ICRA]A+ (Stable); upgraded from [ICRA]A- LT - Term Loans 650.00 650.00 (Stable) Total 650.00 650.00 *Instrument details are provided in Annexure - 1 Rationale: The rating upgrade takes into account the healthy operating track record of the solar photovoltaic (PV)-based project by Solaire Surya Urja Private Limited (SSUPL), which has been operational since September 2017. The plant’s average PLF level has remained above the P-75 estimate of the project, which coupled with the timely payment from the counterparty (NTPC Limited) has resulted in a robust liquidity position of the company. The rating further takes into account the limited demand risk associated with the long-term power purchase agreement (PPA) with NTPC Limited for the company’s entire capacity of 140 MW under National Solar Mission (NSM) Phase II, Batch II, Tranche I. On behalf of NTPC Limited, NTPC Vidyut Vyapar Nigam Limited (NVVN) works as the nodal agency, and in turn has signed power supply agreements (PSA) with state-owned distribution utilities for supply of solar power after bundling it with the thermal power in the ratio of 2:1 (in MW basis). ICRA’s rating favourably factors in the timely payments from NVVN, supported by the payment security mechanism under the PPA and PSA, and the provision of Payment Security Fund (PSF) (which is equivalent to three months of receivables), supported by budgetary allocation of the Ministry of New and Renewable Energy (MNRE), Government of India under the NSM policy framework.
    [Show full text]