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Week In India - India Targets 500GW renewable Energy by 2030, New Manufacturing Linked Tender of 2GW Issued & more...

India Targets 500GW renewable Energy by 2030.

India announced an ambitious aim to set up 500 gigawatts (GW) of renewable energy capacity by 2030 in what could potentially help the country reshape the global energy market dynamics. The plans were revealed by the ministry of new and renewable energy secretary Anand Kumar  at the 17th meeting of the International Renewable Energy Agency (IRENA) council in Abu Dhabi.

India currently has an installed renewable energy capacity of around 80 gigawatts. “India would have installed 175GW of RE (renewable energy) capacity by 2022 without taking into account large hydro and 225GW including large hydro. 

The government plans come in the backdrop of the NDA government’s agenda of providing reliable, sustainable and affordable electricity to the masses in its second term and focusing on changing the energy mix towards green energy sources. Also, as part of the new hydro policy, large hydropower projects have been declared as renewable energy sources, making them a part of the renewable purchase obligation, which requires power discoms to buy a fixed amount of renewable energy to cut reliance on fossil fuels.


New Manufacturing Linked Tender of 2GW Issued.

The central government has issued a new tender for solar power equipment manufacturing capacity totaling 2 gigawatts, the latest attempt to spur its domestic industry after two earlier efforts failed to rouse investor interest. The new tender, issued by the state-owned Solar Energy Corp. of India, seeks four projects for module, cell, ingot and wafer manufacturing with annual capacity of 500 megawatts each, with each plant accompanied by up to 1.5 gigawatts of generating solar capacity.

New to this tender is the option to propose lower capacities for the associated generation projects. The tariffs paid would be capped at ₹2.75 a kilowatt-hour for 25 years, similar to the previous tenders. 


Uttar Pradesh Aims To Achieve 1.5 GW Of Commissioned Solar By Next Year.

The Indian state of Uttar Pradesh expects to commission 1,500 MW of solar power plants by next year in pursuit of its target to have 10,700 MW of renewable energy capacity by 2022. Uttar Pradesh aims to have 4,300 MW of rooftop solar installations and that 150 MW of solar plants are already running success

The 1,500 MW of targeted solar installations for this year have already been tendered. Through the so-called Uttar Pradesh Solar Energy Policy 2017, the state is looking to encourage the private sector to participate in solar projects. Another objective of the policy is to help achieve the target of 8% solar renewable purchase obligation (Solar RPO) by 2022, the minister has said.


Four Of Maharashtra’s Dams To Soon Get Floating Solar Projects.

The state of Maharashtra will soon have four floating solar power projects at four of its dams. The announcement was made by the Maharashtra Water Resources Minister, Girish Mahajan, during the Legislative Council meeting held recently.Girish Mahajan has said that the backwaters of Wardha, Bebala, Khadakpurna, and Pentakli dams have been selected for setting up the floating solar panels as per the Swiss Challenge method.

Mahajan said that the estimated investment per megawatt is slated to be ₹4.45 million (~$6.42 million) with a total installed capacity of 500 MW. A committee headed by the executive director of the Vidarbha Irrigation Development Corporation (VIDC) is currently scrutinizing the detailed project report and drafting the tenders.


Total $2.8 Billion Of Investment in India’s Solar Sector in Q1 2019.

In the first quarter (Q1) of the calendar year (CY) 2019, the Indian solar sector received investments totaling $2.8 billion (~₹195.4 billion). The figure includes both manufacturing funding (upstream) and project funding (downstream) investments.

The investments in Q1 2019 were 12% lower year-over-year (YoY) when compared to $3.17 billion (~₹221.2 billion) in Q1 2018. Investments increased by 55% quarter-over-quarter (QoQ) when compared to $1.81 billion (~₹126.3 billion) invested in the Indian solar sector in Q4 2018. Both upstream and downstream investments surged QoQ mainly due to an increase in corporate funding, of approximately $800 million (~₹56 billion) in Q1 2019, a substantial increase compared to $217 million (~₹15billion) in Q4 2018.

The total investments in downstream activity reached almost $989 million (~₹69.04 billion), up by 4% compared to $951 million (~₹66.3 billion) in Q4 2018.


India’s ACME Solar Signs 1 GW Module Supply Deal.

Hebei, China Headquartered Lightway Solar To Supply 1 GW Worth Of Solar PV Modules To Indian Independent Solar Power Producer ACME Solar For Undisclosed Amount Over Next 2 Years. Chinese solar module manufacturer Lightway Solar headquartered in Hebei with a 660 MW production capacity has landed itself a big module supply deal in India with ACME Solar. Over the next 2 years, it will supply ACME Solar with 1 GW of solar panels starting with a first batch in June 2019.

Lightway confirmed the deal without revealing any details about the financials of the transaction or the kind of modules it will supply to the Indian solar PV project developer.The Indian company claims to have over 2.5 GW of operational solar power projects along with close to 3 GW of capacity under various stages of development. Both Lightway and ACME Solar have been collaborating on projects since 2018.  


EU Partners India To Step Up Standard Operating Procedures And Monitoring Tool For Indian Solar Parks.

The European Union delegation in India and the Ministry of New and Renewable Energy have jointly launched standard operation procedures and monitoring tool for Indian solar parks. Solar parks are key for India to achieve its target of 100 GW from solar energy by 2022, contributing to this target with 40 GW. The EU has been collaborating closely with India in deployment of climate friendly energy sources including solar energy. 

Developed as part of the EU-India cooperation in Clean Energy and Climate Partnership Project, the Standard Operation Procedures (SOP) and monitoring tools were launched by Praveen Kumar, the Additional Secretary of MNRE, and Friederike Tschampa, Charge d'Affaires, Delegation of the European Union to India. Developed under the European Union programme 'Technical assistance for the implementation and management of identified solar parks.


Indian Railways Issues 140 Megawatt Solar-Wind Hybrid Tender.

The Railway Energy Management Company Limited (REMCL) has issued a tender to set up 140 megawatts of solar-wind hybrid capacity. The project shall be spread across three states in the country feeding electricity to three different zones of the Indian Railways. The Indian Railways has specified the capacity to be implemented in each of the three states as well as the split between the two technologies.

 Of the 140 megawatts of capacity, 105 megawatts will be commissioned through wind energy technology, and the balance from solar PV technology. Wind energy projects will range from between 12 megawatts and 52 megawatts while solar power projects will range from 3 megawatts to 18 megawatts. The Indian Railways does have large-scale wind energy projects in various parts of the country but has also shown interest in the development of large-scale solar power projects in the recent past.


NTPC Wins 40 MW Solar Projects Conducted By UPNEDA.

State-run power major NTPC said it has won 40 MW solar energy projects in an auction conducted by Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA). "NTPC participated in UPNEDA's tender for 500 MW Solar capacity with two bids of 20 MW each at Auraiya and Rihand," the company said in a statement.Reverse auction was carried out on June 25 and NTPC won entire 40 MW of solar capacity at a levelised tariff of Rs 3.02/kWh applicable for 25 years.

The projects shall be set up under EPC (engineering, procurement and construction) mode and shall add to the installed capacity of NTPC, the statement said. With these projects, NTPC has won aggregate solar capacity of 545 MW under tariff based competitive bidding tenders of states/SECI.


Tata Power India Considering Yieldco.

Power generation company Tata Power is reportedly considering setting up a yieldco for the operational renewable energy projects of the company. Tata Power is India’s largest integrated power company and part of the massive industrial conglomerate the Tata Group. The company has multiple subsidiaries including Tata Power Solar and Tata Power Renewable Energy. Tata Power could pool its operational solar and wind energy projects that are currently owned by its renewable energy subsidiaries to raise funds. The company would use these funds to retire outstanding debt worth almost US$7 billion.

The company is reported to have an operational renewable energy capacity of 2.5 gigawatts with an additional 400-500 megawatts of capacity under development. The operational capacity includes the 1.1 gigawatt of capacity Tata Power acquired from Welspun Energy for US$1.4 billion in 2016. The reported decision to go for a yieldco (infrastructure investment trust, in the Indian context) by a company like Tata Power shows the strains that renewable energy developers are facing to raise fresh funds and service their or associated companies’ outstanding debt.


Engie’s Renewable Energy In India Exceeds 1500 MW.

French multinational electric utility, Engie has announced that following a series of successes, its total renewable capacity in India now exceeds 1500 MW. The company has revealed in a statement that it was just awarded by Solar Energy Corporation of India (SECI), a 200 MW onshore wind project in the state of Gujarat, and that it will sign a 25-year power purchase agreement (PPA) with Federal Government entity, SECI. 

This success follows an earlier award to the group by the Gujarat Urja Vikas Nigam Limited (GUVNL), for a 280 MW solar photovoltaic (PV) project, in the state as part of the Raghanesda solar park, currently under development. Under the scope of the project, Engie will also sign a 25-year PPA with GUVNL, the state power distribution company.

Engie has been present and active in India for well over 40 years. The Group employs approximately 1,000 people in the country in power generation, engineering and energy services.





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Wednesday, 17 July 2019 08:20