Week In India: MNRE Allows Exemption Of BIS Certification, India Added 883 MW Of Solar Rooftop In First 9 Months Of 2020, REC Sanctions INR 2790 Crore to JJKPCL And More

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MNRE Allows Exemption Of BIS Certification

All India Solar Industries Association (AISIA), New Delhi has conveyed that COVID 19 disruption has posed serious challenges for the survival of domestic solar industry, and sought extension of the BIS certification exemption till the validity of IEC certificates for their products (SPV Modules). Regarding the same, the ministry  allowed exemption for BIS registration to such module manufacturers till the validity of IEC certificates corresponding to the Indian Standards specified in the said order provided the IEC certificates for SPV Modules which had been obtained before 16.04.2018. These manufacturers will be required to go compulsorily for BIS registration after the validity of IEC Certificates is over.

RERC Receives Petition By Discoms For Waiver Of Fixed Charges

Rajasthan Electricity Regulatory Commission (RERC) recently issued order on  non compliance of the provisions of the tariff order and general condition of supply issued by Discoms for waiver of fixed charges. Twelve Discoms filed a petition against Jaipur Vidyut Vitran Nigam Ltd.Commission states that it is clear that the GOR  have provided the necessary reliefs to mitigate hardships to the consumers on account of COVID 19 and decided that it is  not inclined to review its decision at this stage. Commission concluded that the Petitions along with other connected applications are disposed of with no order as to cost.

India Added  883 MW Of Solar Rooftop In First 9 Months Of 2020

About 2320 MW of solar capacity comprising 1437 MW of Ground Mounted Solar and 883 MW of Rooftop Solar was added in India, as per the data released by the Ministry of New and Renewable Energy (MNRE) for January 2020 till Sep 2020. According  to JMK Research  Rajasthan (360 MW), Tamil Nadu (341 MW), and Maharashtra (165 MW) were the leading States with most of the large-scale solar installations during this period. Before the COVID-19 outbreak, JMK Research had projected nearly 7-8 GW of utility-scale solar capacity addition in 2020. However, only 1.4 GW capacity was commissioned in the first nine months.

Target to Increase Installed Renewable Energy Capacity Has Been Extended To 450 GW By 2030 : PM

Prime Minister Narendra Modi delivered inaugural address at the 4th India Energy Forum CERAWeek through a video conference. The theme of this edition is “India’s Energy Future in a world of Change”.Speaking on the occasion, the Prime Minister said India is full of energy and its energy future is bright and secure. He  elaborated that in spite of various challenges like fall in energy demand by almost one third, prevailing price instability, impacted investment decisions, projected contraction in global energy demand over the next few years, India was projected to emerge as a leading energy consumer and is projected to  nearly double its energy  consumption over the long term. The Prime Minister remarked that India is well on track to meet the global commitment.  He said the target to increase the installed renewable energy capacity to 175 GW by 2022 has been further extended to 450 GW by 2030.

REC Sanctions INR 2790 Crore to JJKPCL

State-run REC Limited, one of India’s premier NBFCs, has sanctioned Rs. 2790 crore to Jammu Kashmir Power Corporation Limited (JKPCL). The two parties signed an agreement for the liquidity infusion scheme under the Aatmanirbhar Bharat Abhiyan for the Union Territory of Jammu and Kashmir. The agreement was signed between the Govt. of Jammu & Kashmir, JKPCL, REC and PFC in the presence of Principal Secretary Rohit Kansal – PDD, Jammu & Kashmir. Sanjeev Kumar Gupta – CMD, REC Limited and other senior officials from REC joined the meeting through video conferencing.During these difficult times, financial assistance under the scheme will allow Discoms to fully discharge their dues to Gencos & Transcos for the electricity purchased and transmitted.

KKR Launches Renewable Energy Platform Virescent Infrastructure In India

Global investment firm KKR announced the launch of Virescent Infrastructure (“Virescent” or the “Company”), a newly created platform to acquire renewable energy assets in India. Virescent aims to expand its diversified portfolio of operational renewable energy assets, facilitated by investments predominantly made through KKR’s infrastructure fund. Virescent looks to identify investment opportunities that have stable cash flows stemming from long-term contracts with state and central government counterparties across India. Virescent currently owns 317MWp of solar assets located in Maharashtra and Tamil Nadu. KKR has also entered into definitive agreements to acquire other operating solar projects across three different states. Once closed, these projects will also become part of the Virescent platform.

Executive Director Participates in Indian Energy Meeting with PM Modi

Fatih Birol, the IEA’s Executive Director, participated in an online conference between the Prime Minister of India, the Hon. Narendra Modi, and global energy leaders on Tuesday, to discuss the outlook for the sector. Prime Minister Modi emphasised that providing all Indians with equitable access to clean, affordable and sustainable energy was at the core of the government’s policy. He outlined India’s rise as a major consumer of energy globally, and reinforced the government’s commitment to fighting climate change. He outlined his view of the key drivers of India’s energy future, covering a broad range of fuels and technologies across the energy sector. The event was organised by NITI Aayog and MoPNG, in association with the India Energy Forum by CERA Week. It included 40 energy leaders including CEO of Abu Dhabi National Oil Company (ADNOC) and United Arab Emirates Minister of Industry and Advanced Technology, HE Dr Sultan Ahmed Al Jaber; CEO of Reliance Industries, Mr Mukesh Ambani; and CEO of BP, Mr Bernard Looney.

NTPC Ties Up JPY 50 Billion Funding From JBIC

In the first funding for NTPC Ltd under Japan Bank for International Co-operation (JBIC)’s GREEN or Global Action for Reconciling Economic growth and Environment preservation initiative, India’s largest power producer today entered into foreign currency loan agreement with Japanese Government’s financial institution for JPY 50 billion (approx. USD 482 million or Rs. 3,582 crore). JBIC will provide 60% of the facility amount and the balance will be given by commercial banks (viz., Sumitomo Mitsui Banking Corporation, the Bank of Yokohama Ltd., the San-In Godo Bank Ltd., the Joyo Bank Ltd. and The Nanto Bank Ltd.), under JBIC guarantee. The facility is extended under JBIC’s outreach for projects, which ensure conservation of global environment. The loan proceeds shall be utilized by NTPC for funding its capex for Flue Gas Desulphurization (FGD) & Renewable Energy projects. FGD, substantially reduces the SOx emission in the flue gases of thermal power plants and is a critical step towards environmental sustainability.

Green City Finance Directory Helps Cities Access Sustainable Finance

The Cities Climate Finance Leadership Alliance (the Alliance) announced during ICLEI’s Daring Cities 2020 the launch of its Green City Finance Directory, an open, online resource to help subnational governments and stakeholders identify project preparation facilities (PPFs). Most cities, especially in developing countries, face challenges in identifying and developing financially viable low-carbon and climate-resilient infrastructure projects which are at the same time attractive to public and private financiers. PPFs assist cities by supporting activities in the project preparation stage of the project cycle with the goal of successfully connecting them to finance. As a result, PPFs can help cities develop green and resilient infrastructure, including implementing more efficient heating and cooling systems, building renewable energy, setting up sustainable transit, or climate-proofing resilient infrastructure.

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