Amplus bags 150 MW solar projects in Haryana

Source: IBEF.org, May 21, 2019

New Delhi: Amplus Solar said Monday that it has secured approval from the Haryana government for two power projects of 150 MW for supplying clean energy to industries.

Amplus Solar expects to make a capital investment of Rs 750 crore for these open access projects, a company statement said.

Under the open access route, industrial and commercial users can source electricity from the open market. They can purchase power from a number of suppliers and can also meet their Renewable Purchase Obligations. Read the rest of this entry »

Receivables spike up for renewable energy companies in Telangana, Andhra cause for concern: Ind-Ra

Source: The Hindu Business Line, May 08, 2019

Hyderabad: The soaring receivables from Telangana and Andhra Pradesh distribution companies (Discoms) have weakened the internal liquidity of many projects and necessitated a reduction in their debt service reserve accounts.

According to India Ratings and Research (Ind-Ra) projects with resourceful sponsors and adequate internal liquidity are likely to withstand the emanating stress and ride over this difficult period.

However, projects with partially or fully depleted resources would face a rating action.

Therefore, the importance of adequate internal liquidity is coming to the fore again.

In 2016, the state power utilities of Telangana and Andhra Pradesh paid ahead of time and availed rebates. In view of the surge in receivables now and other underlying issues such as tariff non-revision, the power utilities of these states have become fallen angles. Read the rest of this entry »

India considers new solar tender with focus on factories

Source: The Hindu Business Line, May 07, 2019

New Delhi: India is considering a new tender to develop solar power equipment manufacturing that does not include a requirement to also generate electricity, said a source.

In addition to separating manufacturing of solar cells and modules from generation, the Government may also offer some form of financial aid, said the source.

India has been struggling to spur its nascent domestic manufacturing industry, which the Government estimates can currently only meet just 15 per cent of the country’s annual needs. The nation has been seeking to boost its capabilities through both manufacturing tenders as well as a safeguard duty on cheaper Chinese imports.

A tender issued in May 2018 was downsized and delayed multiple times, before being scrapped due to poor investor interest. It was replaced by a smaller version in January, for which the bidding deadline has been extended three times. The latest deadline, May 14, is expected to be extended again, the sources said. Read the rest of this entry »

Karnataka puts a stop on new solar energy projects

Source: LiveMint.com, May 02, 2019

Mumbai: In a first, Karnataka has stopped the building of new solar energy projects, balancing its renewable power purchase obligations and concerns on the financial health of the state’s power distribution companies (discoms). Last month, the Karnataka Electricity Regulatory Commission said there will be no further bidding to procure solar energy from large-scale projects till further orders.

The decision was communicated by the commission to the Karnataka Renewable Energy Development Ltd (KREDL) in letter dated 7 March. Mint has seen a copy of the letter.

KREDL is the state government body that issues tenders for bulk renewable energy procurement for Karnataka’s discoms. Read the rest of this entry »

Telangana set to add 1,000 MW of solar photo-voltaic projects

Source: The Hindu Business Line, Apr 17, 2019

Hyderabad: Telangana is set to add about 1000 mw of solar photo-voltaic capacity within the next 6-8 months which will take its total solar PV installed capacity to over 4,500 mw.

The solar PV distributed energy policy is seen as a unique initiative of the State as opposed to the solar park scheme where large solar parks are set up.

The newly carved out State has seen rapid deployment of distributed solar PV projects to be amongst the top States in the country with an installed capacity of 3500 mw. Karnataka is also at about the same capacity, N Janaiah, Vice Chairman and Managing Director of Telangana State Renewable Energy Development Corporation Limited, said.

Speaking on the sidelines of a meet to announce a Renewable Energy conference, Janaiah told Business Line “the distributed model adopted by the Telangana State is being keenly watched by other States for the advantages it brings to energy management and power generated from renewable sources.” Read the rest of this entry »

Agreement between India-Denmark on renewable energy approved by Cabinet

Source: Business Standard, Apr 16, 2019

New Delhi: The Union Cabinet Monday gave ex post facto approval to an agreement signed between India and

 

Denmark for cooperation in the field of renewable energy with focus on offshore wind energy

The agreement was signed in March 2019 in New Delhi, an official statement said.

“The Union Cabinet, chaired by Prime Minister Narendra Modi, has given its approval for a cooperation agreement between Ministry of New and Renewable Energy of India and Ministry for Energy, Utilities and Climate of the Kingdom of Denmark on strategic sector cooperation in the field of renewable energy with a focus on offshore wind energy and a letter of intent to establish an Indo-Danish Centre of Excellence for renewable energy in India,” the statement said. Read the rest of this entry »

Renewable energy sector attracts FDI worth $7.48 billion since April 2000

Source: Business Standard, Apr 10, 2019

Bhubaneshwar: According to a report by the India Brand Equity Foundation (IBEF), the country’s renewable energy sector attracted foreign direct investments (FDI) worth $7.48 billion between April 2000 and December 2018.

The IBEF report pegs new investments in clean energy space worth $11.1 billion in calendar 2018, sourcing data from the Ministry of New & Renewable Energy (MNRE) and leading consultancy KPMG.

The green energy sector boasted 28 deals and grabbed a 27 per cent share of the merger & acquisition (M&A) deals in the power sector valued at $4.4 billion in 2017.

Renew Power Ventures, Diligent Power Pvt Ltd, Welspun Renewables Energy Pvt Ltd, Areva Solar Power Ltd and Ostro Energy Pvt Ltd figure among the major beneficiaries of overseas financing. Asian Development Bank (ADB), Japan-based ORIX Corporation, ENEL Green Power Development BV (Netherlands), Areva Solar Inc (USA), AIRRO Singapore Pte Ltd and ENERK International Holdings (Seychelles) have also sunk in funds on energy renewable projects. Read the rest of this entry »