France’s Engie SA, Dubai’s Abraaj to set up wind power platform in India

Source: LiveMint.com, Sept 21, 2017

New Delhi: French energy firm Engie SA and Dubai’s private equity firm Abraaj Group on Wednesday announced a partnership to build a wind power platform in India.

“Together, Abraaj and Engie have identified a robust pipeline of wind power projects representing over 1 GW (gigawatt) in several key states,” the companies said in a joint statement.

Foreign investments are crucial for India’s renewable energy industry as the lower cost of foreign capital and the size of the market has helped bring down tariffs.

“Energy demand is growing tremendously in India, and Engie is investing in green energy sources as part of supporting the country with its sustainable development plans,” said Sébastien Arbola, chief executive of Engie Middle East, South and Central Asia and Turkey in the note. Read the rest of this entry »

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India to hit 20 Gw of installed solar capacity by FY18-end: Report

Source: Business Standard, Sept 20, 2017

New Delhi: India will reach the level of 20 Gw of installed solar capacity by the end of this financial year, consultancy firm Bridge to India said on Tuesday.

India installed 7.5 gigawatts (Gw) in the last four quarters and the total utility-scale solar capacity hit 16.2 gw by September 2017, the firm said in its latest report.

According to the study, an additional 10-Gw capacity has been allocated to developers and is in various stages of development. Read the rest of this entry »

Renewables may face grid management challenge

Source: The Hindu Business Line, Sept 07, 2017

Mumbai: India’s massive power grid system needs re-balancing to deal with the fluctuating/erratic nature of power generated from renewable energy flowing into the system and keep supply in sync with demand, says experts.

The concern comes as India pushes for an ambitious renewable target of 175 GW by 2022.

As more variable power generation sources are added into the grid, the more difficult this balancing becomes.The fluctuating nature of renewable energy, be it solar or wind, is a problem for any grid in the world. For the Indian grid — which is generally unstable, managed manually and experiences shortfalls instead of having reserves and alternatives — like the grids in developed countries, the growing renewable capacity will become a major issue over the next 3-5 years, experts say.

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Rising prices of imported modules may impact 3,250-MW solar projects: ICRA

download (10).jpgSource: The Hindu Business Line, Sept 06, 2017

Mumbai: The prices of imported photovoltaic (PV) module have been rising over the last three to four months, increasing by about 15 per cent from about $30-32 cents/watt in May 2017 to about $35-37 cents/watt in August 2017.

This may impact the recently bid solar projects where bid tariff was below ₹3.5 per unit, ICRA analysts said.

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Govt bars states from independently exiting, modifying solar project pacts

Source: Business Standard, Aug 30, 2017

New Delhi: India has barred state authorities from unilaterally cancelling or modifying solar power purchase agreements (PPAs) after six state governments in last two months pushed developers to lower tariffs, threatening to derail projects worth $7.5 billion.

Narendra Modi’s government aims to raise solar power generation capacity nearly 30 times to 100 gigawatts (GW) by 2022. The capacity has already more than tripled in three years to more than 12 GW.

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Second auction of wind power projects: Tariff tumbles to Rs 3.42 a unit

download (2)Source: Business Standard, Aug 31, 2017

New Delhi: Six months after the first auction of projects, the second one has seen wind power tariff falling to a record low of Rs 3.42 per unit. The three companies that have qualified in the bidding, held by Tamil Nadu for 500 Mw of wind power projects, would now set up 900 Mw of wind power projects .

Regen Power Tech has won 250 Mw of projects at the lowest quoted tariff of Rs 3.42 per Mw. It is followed by Leap Green Energy, promoted by F1 racer Narayan Karthikeyan, at a bid of Rs 3.43 per unit for 250 Mw. Neyveli Lignite Limited won 400 Mw of projects at Rs 3.45 per unit.These are fixed tariffs for a period of 25 years.

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New procurement norms come to the aid of solar power producers

Source: The Hindu Business Line, Aug 22, 2017

New Delhi: Solar power producers need not worry over financial losses due to errant distribution entities. The Power Ministry’s latest guidelines on tariff-based competitive bidding and the process for procurement of power from grid-connected solar power projects have come to their rescue.

According to the guidelines, the government will compensate solar power producers for grid unavailability, back down, and transmission constraints, if any. This has been a long standing demand of the industry.

The new guidelines also allowthe procurers to acquire project assets for 90 per cent of the due debt in case of a loan default by the solar power generators. The guidelines allow lenders to exercise their mortgage rights and liquidate the project assets. Read the rest of this entry »