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Download Pdf of Monthly RE Update February 2021 monthly update February 2021 Lead Sponsors Delivering true value 丨 Higher power, lower LCOE Shaping the future. Once again. www.longi-solar.com Delivering true value 丨 Higher power, lower LCOE Shaping the future. Once again. www.longi-solar.com Contents 1. Tenders | 5 New RFS Issued | 5 Re-Tendered | 8 Date extension | 8 Auctions Completed | 9 2. Installed Capacity | 10 3. Investments/ Deals | 13 4. Monthly Import-Export Statistics | 15 5. Module Price Trends | 16 6. Policy and Regulation | 17 4 1. Tenders New RFS • About 1046 MW of renewable tenders were issued in February 2021 Issued • Auctions were completed for 6895 MW of solar projects. Maximum capacity of 3150 MW was won by Adani alone. Fig 1.1: Details of new tenders issued in February 2021 NTPC, 300 MW, Solar, Gujarat 5000 UPNEDA, 275 MW, Solar, Uttar Pradesh KSEB, 200 MW, Rooftop Solar, Kerala CESL, 100 MW, Solar, Maharashtra EESL, 70 MW, Solar Power Project, Goa NHPC, 25 MW, Floating Solar, Madhya Pradesh APGCL, 25 MW, Solar, Namrup Thermal Station, Assam TSCL, 20 MW, Floating Solar, Karnataka BHEL, 10 MW, Solar, (WBSEDCL) West Bengal HPGCL, 10 MW, Solar, Jhajjar, Haryana, Feb 2021 WBREDA, 9.9 MW, Rooftop Solar, West Bengal JREDA, 7 MW, Rooftop Solar, Jharkhand HPGCL, 6 MW, Solar, Chandpur, Faridabad, Haryana WBPDCL, 5 MW, Floating Solar, West Bengal NOIDA, 2.6 MW, Rooftop Solar NVVNL, 2 MW, Solar, Agartala Airport, Tripura CCMC, 2MW. Solar, Tamil Nadu TANGEDCO, 1MW, Solar, Tamil Nadu MES, 1 MW, Solar Power Plant, Hisar, Haryana 0 100 200 300 apacity M Source: JMK Research 5 Table 1.1: New RFS issued Commis- sioning Bid Tender Capacity Other timeline Tender Name Technology Submission Scope (MW) Details from Date PPA signing NTPC, 300 MW, Solar, Utility Scale 12 EPC 300 16th-Mar Gujarat, Feb 2021 Solar months UPNEDA, 275 MW, Solar, Utility Scale Project De- 15 275 1st-Mar Uttar Pradesh, Feb 2021 Solar velopment months EMD - INR 100/- per kWp KSEB, 200 MW, Rooftop of quoted capacity, subject Rooftop Solar 200 3 months 8th-Mar Solar, Kerala, Feb 2021 to maximum of INR 1 million CESL, 100 MW, Solar, Utility Scale EPC 100 17th-Mar Maharashtra, Feb 2021 Solar EESL, 70 MW, Solar Power Utility Scale Performance Security - EPC 70 6 months 26th-Feb Project, Goa, Feb 2021 Solar 10% of the contract price NHPC, 25 MW, Floating Floating 12 Solar, Madhya Pradesh, EPC 25 18th-Feb Solar months Feb 2021 APGCL, 25 MW, Solar, EMD - INR 20 million 12 Namrup Thermal Station, Solar EPC 25 PBG - 10% of the EPC 26th-Mar months Assam, Feb 2021 Contract TSCL, 20 MW, Floating So- Floating Project De- 24 20 EMD - INR 9.8 million 5th-Apr lar, Karnataka, Feb 2021 Solar velopment months BHEL, 10 MW, Solar, (WB- Utility Scale SEDCL) West Bengal, O&M 10 EMD – INR 0.227 million 2nd-Mar Solar Feb 2021 EMD - INR 10 million/MW PBG - Haryana Based HPGCL, 10 MW, Solar, Utility Scale firm - @2% of the contract EPC 10 6 months 24th-Mar Jhajjar, Haryana, Feb 2021 Solar value Other states or UTs based firm - @3% of con- tract value WBREDA, 9.9 MW, EMD – INR 2.8 million, Rooftop Solar, West Rooftop Solar 9.9 PBG – 10% of the tendered 23rd-Apr Bengal, Feb 2021 value 6 Commis- sioning Bid Tender Capacity Other timeline Tender Name Technology Submission Scope (MW) Details from Date PPA signing EMD - INR 0.208 million JREDA, 7 MW, Rooftop So- Rooftop Solar 7 PBG - 5% of the allotted 6 months 1st-Mar lar, Jharkhand, Feb 2021 work order HPGCL, 6 MW, Solar, Utility Scale Chan-dpur, Faridabad, EPC 6 EMD - INR 6 million 6 months 24th-Mar Solar Haryana, Feb 2021 WBPDCL, 5 MW, Floating Project De- Floating Solar, West 5 EMD – INR 7 million 9 months 12th-Apr Solar velopment Bengal, Feb 2021 EMD – INR 2.04 million, NOIDA, 2.6 MW, Rooftop Solar RESCO 2.6 MSMEs sector exempted 6 months 11th-Mar Rooftop Solar, Feb 2021 from paying EMD NVVNL, 2 MW, Solar, Small Scale Agartala Airport, Tripura, 2 22nd-Feb Solar Feb 2021 CCMC, 2MW. Solar, Small Scale 2 EMD – 0.9 million 7th-Apr Tamil Nadu, Feb 2021 Solar TANGEDCO, 1MW, Solar with a 1 MW/3 MWh BESS, Solar + BESS 1 EMD – 0.1 million 24th-Mar Tamil Nadu, Feb 2021 MES, 1 MW, Solar Power EMD - INR 0.625 million, Small Scale 12 Plant, Hisar, Haryana, 1 PBG - 5% of the contract 15th-Mar Solar months Feb 2021 sum PBG: Performance Bank guarantee EMD: Earnest Money Deposit Source: Industry news articles, JMK Research 7 Re-Tendered Table 1.2: Re-tendered Commis- Bid Tender Tender Name Technology Capacity Other Details sioning Submission Scope timeline Date EESL, 279 MW, Utility Scale Solar, Maharashtra, EPC 279 EMD - INR 193 million 19th-Mar-2021 Solar Aug 2020 EMD - INR 20 million PBG - HPGCL, 20 MW, • Haryana Based firm @2% Solar, Old Ash Dyke, Utility Scale EPC 20 of the value of contract 6 months 24th-Mar-2021 Faridabad, Haryana, Solar Other states or UTs based Feb 2021 • firm @3% of the value of contract WBPDCL, 10 MW, EMD - INR 12 million Floating Solar, Floating EPC 10 Performance Security - 10% of 12 months 31st-Mar-2021 West Bengal, Solar LOA March 2020 Date Extension Table 1.3: Date Extension Commission- Bid Sub- ing timeline Tender Name Technology Tender Scope Capacity (MW) mission from PPA Date Signing SECI, 50 MW, Solar PV and Agro Solar and Project Solar PV – 40 MW 12 months 15th-Mar PV, Tamil Nadu, Jan 2021 Agro PV Development Agro PV – 10 MW SECI, 20 MW, Solar with 20 Solar + BESS EPC 20 10th-Mar MW/50 MWh BESS Leh Dec 2020 SECI, 15 MW, Floating Solar, Floating Project Bilaspur, Himachal Pradesh, July 15 18 months 17-Mar-2021 Solar Development 2020 Source: Industry news articles, JMK Research 8 Auctions Completed Table 1.4: Auctions completed Commis- sioning Capacity Capacity timeline Tender Name Status tendered allotted Bidder Details from PPA (MW) (MW) Signing • Torrent Power - 300 MW (INR 2.47/kWh) • Shirdi Sai Electricals - 1800 MW (INR 2.48/ kWh) • NTPC - 600 MW (INR 2.48/kWh) APGECL, 6400 MW, Solar, Auction 6400 6400 21 months • Adani -2400 MW (2.49/kWh) Andhra Pradesh, Dec 2020 Completed • Shirdi Sai Electricals - 400 MW (INR 2.49/ kWh) • HES Infra - 300 MW (INR 2.49/kWh) • Adani - 600 MW (INR 2.58/kWh) Torrent Power, 300 MW, • Adani - 150 MW (INR 2.22/kWh) Auction Grid-Connected Solar PV, 300 300 18 months • Torrent Power Generation - 150 MW (INR Completed Gujarat, Dec 2020 2.22/kWh) NTPC, 190 MW, Grid-con- Auction nected Solar PV, Rajasthan, 190 190 10 months Rising Sun Energy - 190 MW (INR 2.25/kWh) Completed Jan 2021 SECI, 5 MW, Solar, Tamil Auction 5 5 9 months U-Solar Nadu, EPC, July 2020 Completed Source: Industry news articles, JMK Research 9 2. Installed Capacity In January 2021, a total of 1489 MW of solar and wind capacity was added, taking the cumulative RE capacity to 92.6 GW as on January 31st, 2021. Fig 2.1: Solar and Wind installations in January 2021 - 1489 MW Cumulative Installations Capacity installed in January 2021 all Hydro Sm er 5% ow 1500 P % io 1 1 B 1200 Source: MNRE, JMK Research JMK MNRE, Source: W 4 i n 2 d % 900 100%= 92.6 GW 600 apacity M apacity % 300 2 r 4 a l o S 0 Solar ind Maharashtra and Uttar Pradesh added maximum solar capacity whereas Gujarat had the highest wind installation (52 MW). Fig 2.2: State wise 400 tility scale Solar ind Installed capacity in 350 January 2021 300 250 200 150 100 Installed Capacity (MW) Installed Capacity 50 0 Maharashtra Uttar Gujarat Andhra Karnataka Rajasthan Others Pradesh Pradesh 10 Recently Commissioned Projects Table 2.1: List of recently commissioned projects Capaci- Month of Project Developer Name Technology State ty (MW) Commissioning Adani Green Energy Solar 100 Uttar Pradesh Feb-21 Sprng Energy Solar 98 Andhra Pradesh Feb-21 Open access Hinduja Renewables (Ashok Leyland) 75 Tamil Nadu Feb-21 solar Pennar Industries Ltd Solar 24.7 Uttar Pradesh Feb-21 Solar (Under Solar Agriculture Waaree 16 Maharashtra Feb-21 Feeder Pro- gramme) Open access AMP Energy 14 Uttar Pradesh Feb-21 solar Solar (behind the AMP Energy 7.805 Telangana Feb-21 meter) NTPC Solar 5 Uttar Pradesh Feb-21 Source: Industry news articles, JMK Research 11 www.renesola.com Bringing Solar Power to the World 2.5+GW Solar PV Modules Supplied in India Features: w Globally reputed & recognised International brand w Well equipped Sales & Technical support staff in India w TIER-1 Solar PV Module manufacturer Contact us: w High conversion efficiencies modules Office: 1604, Regus, 16th Floor, Tower ­B, w Easy installation & handling World Trade Tower, Sector -16, Noida - 201301, UP (INDIA) w Cost competitive Tel.: +91- 120- 6829475 w Certified12 by TUV, UL, BIS and other International labs Email: [email protected] w ISO9001, OHSAS18001, ISO 14001 Certified 3. Investments/ Partnerships Table 3.1: Investment and deals in February, 2021 Stakes Asset ac- Deal Company Name Deal Type Sector Investor Ac- quired Value quired Prathama Solarconnect Energy Pvt. Ltd. $ 2.56 Equity Solar Ashoka Leyland 26% (PSEPL) million 15 MW NVNR (Ramannapet I) Power Plant Pvt Ltd and Aurobindo $ 1.48 Acquisition Solar (Group Cap- 26% NVNR (Ramannapet II) Power Plant Pvt Ltd Pharma million tive projects) Rooftop DIN Engineering Services Acquisition Enphase Energy Solar Source: Industry news articles, JMK Research Brookfield, two others bid for Fortum’s assets Canada’s Brookfield Asset Management Inc., private equity firm Actis Llp and Edelweiss Infrastructure Yield Plus Fund’s Sekura Energy Ltd have offered to buy a majority stake in Finnish state-run power utility Fortum Oyj’s 500 megawatts (MW) solar projects in India in a deal estimated at about half a billion euros, said two people aware of the development.
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