Reading Time: 6 minutes
Below are the top weekly news updates for India’s solar energy industries one should know:
Wind-solar hybrid projects witness a slow beginning as per Modi’s Ambition
The Union Government saw the wind-solar projects as the options for meeting the ambitious target of renewable energy of 175 MW capacity by 2022. Its been an year since their launch although there has been a slow start in these projects. Out of the 3,200 MW of wind-solar hybrid tenders launched in the past one year by central and state agencies, only 2,400 MW have come into being and 1,600 MW been allotted, indicating an under-subscription of 34%.The auctions have witnessed participation from a handful of developers like Adani, Softbank, and ReNew Power. According to industry experts, low ceiling tariffs of `2.7 per unit set by SECI; expectation of a minimum 38% combined utilisation factor (CUF) in the tenders; and lack of good sites are among the reasons impacting hybrid projects.
Uttar Pradesh and SECI Finalize PSA for 750 MW of Solar at a Tariff of Rs.2.55/kWh
UPERC (Uttar Pradesh Electricity Regulatory Commission) have approved the Power Sale Agreements (PSA) between UPPCL (Uttar Pradesh Power Corporation Limited) and Solar Energy Corporation of India at a tariff rate of Rs. 2.55/kWh for 25 years. It was also confirmed by UPPCL that Uttar Pradesh is the only beneficiary for the projects. The move comes after UPPCL filed a petition before the commission seeking the approval of 750 MW of solar power PSA dated March 28, 2018, signed between UPPCL and SECI at a tariff rate of Rs.2.55 including Rs.0.07 trading margin for 25 years. In an aim to replicate the success of the Bhadla Phase-III and Phase-IV solar park auctions, the government of Uttar Pradesh was also considering setting up 750 MW of solar at Bhadla. The solar tariffs reached a low of Rs.2.44/kWh for these projects hence, the governing body at Uttar Pradesh is was in the plans of setting up the projects in Rajasthan at such similar competitive rates.
Manufacturing-linked solar tender scaled up to 7 GW
The Solar Energy Corporation of India has made a number of amendments to the tender for annual solar manufacturing capacity of 2 GW which is linked to 6 GW of inter-state (ISTS) connected solar projects. SECI has now notified that developers shall be provided assured PPAs for up to 2000 MW against 500 MW of cells/modules manufacturing, and up to 1500 MW against 500 MW of ingots/wafer manufacturing. Hence, the total solar plant capacity now stands at 7 GW for manufacturing capacity of 2 GW. Bidders can bid for all the four projects. Further, SECI shall exercise the Green-Shoe Option to allocate additional capacities to the successful bidders equivalent to the capacities won by them, provided they match the lowest discovered tariff of the respective projects.
Avyan Renewable Solar’s Acquisition In SunEdison Reduced to 31%
Avyan Renewable Solar will have an acquisition to 13,91,896 equity shares which represents 31% of the equity share capital of SunEdison, according to a recent corporate filing by SunEdison with the Bombay Stock Exchange (BSE). At first the share purchase agreement was signed with SunEdison Infrastructure Limited to acquire 16,83,713 equity shares which accounted for 37.50%. However all other terms and conditions of the SPA will remain the same.
Largest Floating Solar Plant to be established in MP, India
The government is aiming to set up a 1,000MW floating solar park at Indira Sagar Dam in Khandwa. The state government of Madhya Pradesh is ready to procure 200MW power from this project and they are in conversation with other procurers too. The work for the project is expected to start in 7-8 months provided if everything goes smoothly. The cost of developing this floating solar park will be about Rs. 5,000 crores, at Rs. 5 crore per MW, said the sources.
Andhra Pradesh regulator approves solar power tariffs
The Andhra Pradesh Electricty Regulatory Commission has waded into the row over attempts to renegotiate signed power purchase agreements by ordering state power distribution companies to honor the contracts. Te power prices range from Rs. 2.72 – 3.15/kWh forming the basis of power purchase agreements which were signed by power companies in collaboration with project developers like SB Energy, Ayana Renewable Power, Sprng Energy and Engie after the Solar Energy Corporation of India held a tender. The APERC has directed the Southern Power Distribution Company of Andhra Pradesh Limited and its Eastern counterpart to honor the agreements.
Rajasthan to tender for 61 solar operated water pumping systems
Public Health Engineering Department, the Government of Rajasthan, has determined to install solar based bore well water pumping systems in various villages and towns of Jaipur district with a vision to provide potable drinking water in far off rural areas having no electricity or having very less power supply. The work has to be completed within 9 months of signing the contract. The government will be responsible in providing the required land and bore well as per the requirement of the plant. The bidder who gets selected for this tender will be responsible for designing, providing, installation and commissioning of the solar pumping systems. It will also be responsible for providing comprehensive operation and maintenance for seven years.