India will add 8.5-GW renewable energy in FY19, says ICRA

Source: The Hindu Business Line, Oct 17, 2018

Mumbai: The country’s renewable sector has so far seen a robust bidding activity providing a reasonably healthy visibility for solar and wind capacity addition in the next two fiscals, ICRA experts said. They expect capacity addition of about 8-8.5 GW in FY19.

The share of renewable energy in overall installed power generation capacity has increased from 9 per cent in March 2009 to around 20 per cent (which translates to capacity of around 71 GW) as on June 2018, rating agency ICRA said in a report.

ICRA expects the share of renewables in the total generation mix to increase by 5 per cent in next four years – from 7.7 per cent in FY18 to 12-13 per cent by FY22.

The bidding activity in the renewable energy sector has remained sizeable with central nodal agencies like the Solar Energy Corporation of India (SECI) and NTPC Ltd (NTPC) as well as state distribution utilities issuing bids for wind and solar power capacities of about 10 GW and 15 GW respectively during calendar 2017 and 2018 years. While this auger well for the sector, several key concerns remain. Read the rest of this entry »

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India becomes second largest solar market; installs 4.9 GW in H1

Source: The Hindu Business Line, Oct 15, 2018

Mumbai: India installed 4.9 GW of solar power, consolidating its position as the second largest solar market in the world, during the first half of calendar year 2018. The country was ranked second, following China during the January-June period, according to a report by Mercom Communications India.

India was the fifth-largest solar market in the world for total installations, the study, ‘India Solar Market Leaderboard 1H 2018’, said. “New leaders are emerging in the highly-competitive Indian solar market, while some of the more established companies maintained their leadership position in the first half of 2018,” said Raj Prabhu, CEO of Mercom Capital Group. Read the rest of this entry »

Wind power industry hit by discom turbulence

Source: The Hindu Business Line, Oct 07, 2018

Hyderabad: The country’s wind power sector is facing with turbulence, with alleged arm twisting by several State discoms over renegotiation of PPAs, lack of open access for inter-State transmission, and delayed payments by discoms, all leading to financial concerns raising bankability issues.

This, in turn, has resulted in lenders turning cautious over funding new projects, as the outcome may not be as projected, according to several players in the sector. Read the rest of this entry »

Yogi govt clears six biofuel investment proposals worth Rs 17 billion

Source: Business Standard, Oct 4, 2018

Lucknow: In a boost to its green energy roadmap, the Yogi Adityanath government has cleared six biofuel investment proposals worth almost Rs 17 billion.

These private projects are proposed to be set up in 5 districts, including Sitapur, Hapur, Meerut, Bareilly and Muzaffarnagar.

These projects include a mega biofuel plant to be developed by SunLight Fuels spanning almost 90 acres in Sitapur and costing Rs 15.5 billion. The company would use bagasse, a sugarcane byproduct extracted during sugar production process, to generate biofuel. Read the rest of this entry »

Gujarat invites tenders for 700 MW solar projects sans ceiling tariff

Source: Financial Express, Oct 03, 2018

Gujarat is inviting tenders to set up 700 MW of solar projects in the state under the reverse-auction mechanism. To encourage larger participation, the state has not capped the upper limit for tariff discovery in the auctions by removing the provision for ‘ceiling tariffs’. A senior official from Gujarat Urja Vikas Nigam told FE that the ceiling tariff has been removed as “the market looked stable and we have discovered the lowest tariffs in the previous auction”.

The tender follows the auction for 500 MW of solar capacity held last month, when the state discovered the lowest tariff of Rs 2.44/unit, matching the record low rate first found in May 2017 for Rajasthan’s Bhadla projects. However, dampening the state’s delight over the discovery of such attractive rates, sources said that Azure Power, which had won 100 MW in the auction by quoting Rs 2.45/unit, has requested the state to withdraw its bids. Read the rest of this entry »

Cap on solar tariffs to stay despite industry concerns

Source: The Hindu Business Line, Sept 19, 2018

Mumbai: The cap on solar tariffs proposed by the Ministry of New and Renewable Energy (MNRE) is likely to stay despite solar developers and industry associations raising concern over its negative impact on the viability of solar projects.

The National Solar Energy Federation of India (NSEFI) wrote to RK Singh, Union Minister for Power and Renewable Energy, requesting him not to cap solar tariffs at ₹2.5 per unit.

“Varied solar radiation levels across the country, extreme volatility in module prices, currency exchange rates, prevailing interest rates and return on equity (ROE) are essential factors which must be taken into consideration to arrive at economically viable tariffs,” the letter said. Read the rest of this entry »

Government imposes safeguard duty on solar cell imports for two years

download (3).jpgSource: Business Standard, Jul 31, 2018

New Delhi: India on Monday imposed safeguard duty on solar cells imports from China and Malaysia for two years to protect domestic players from steep rise in the inbound shipments of the product.This comes following recommendations by the Directorate General of Trade Remedies (DGTR), under the commerce ministry.

As per the notification of the finance ministry, 25 per cent safeguard duty have been imposed for July 30 to July 29, 2019, which will gradually come down to 20 per cent during July 30, 2019 to January 29, 2020 and 15 per cent during January 30, 2020 to July 29, 2020.

Read the rest of this entry »