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saurabh

Upto 19% Rate Of Return Expected From Indonesia’s New Solar Feed-in Tariffs, Says BNEF

written by saurabh

Indonesia may soon become a budding solar power market as feed-in tariffs recently announced by the government are expected to yield very attractive returns for developers.

According to an analysis by the Bloomberg New Energy Finance (BNEF), solar power projects in Java and Sumatra may yield rate of return up to 18.8% the capital cost of setting up solar power projects in these areas will be lower compared to that in other regions of Indonesia.

Indonesia recently announced feed-in tariffs for solar PV power projects in the range of US¢14.5/kWh and US¢25.0/kWh. The tariff vary from region to region. Java and Sumatra have been assigned the lowest tariff of less than US¢20.0/kWh but the levellised cost of energy is even lower at around US¢8.8/kWh.

Projects selected for implementation will sell electricity through 20-year power purchase agreements. Java has been allocated a total capacity of 150 MW with project size capped at 20 MW. Projects will less than 10 MW capacity will have to be commissioned within 12 months while larger projects will get 24 months.

Over the last few months the government has taken several measures to promote investment in the renewable energy sector, including the implementation of a single-window approval system. The planned incentives would play a critical role in Indonesia’s endeavor to boost the share of renewable energy sources in the total energy mix to 19% by 2019 and to 25% by 2025, up from its current share of renewable energy sources of between 5% and 6%.

08/27/2016 0 comment

Renewable Energy

Solar Energy Corp Of India Issues 100 MW Solar Energy Storage Tender

written by saurabh

The Solar Energy Corporation of India has issued among the first tenders for solar power projects with storage capacity.

A tender for 100 MW storage capacity for a large solar power park has been issued by the Solar Energy Corporation of India (SECI). The storage will be part of the 1 GW Kadapa solar power park approved under the central government’s plan to setup around 25 GW of ultra mega solar power projects across the country.

Last month, media outlets had reported that SECI will auction an additional 200 MW storage capacity linked with large-scale solar power park in Karnataka. Theses auctions are part of an overall strategy to seamlessly integrate renewable energy projects into the existing power grid.

Earlier this year, Indian newspapers also reported that the Ministry of New & Renewable Energy was considering to launch a National Mission on Energy Storage. No details of the said mission are currently available, however.

International companies are already planning to bid for the impending tenders. Chinese battery maker BYD and Canada-based project developer SkyPower Global entered an agreement to bid for solar power projects in India soon after the news of 100 MW storage tender for Andhra Pradesh solar power park was reported.

08/27/2016 0 comment

Renewable Energy

Scatec Solar Wins 100 MW Solar Power Project In Nigeria

written by saurabh

Norwegian independent solar power provider, Scatec Solar, has signed an agreement with Canadian renewable energy group CDIL and Nigerian consulting company BPS for developing a 100 MW solar power plant project in Nigeria.

The 100 MW Nova Scotia Power plant will be built in Nigerian state of Jigawa. Scatec Solar will develop, build, own and operate the solar plant for which 25 year long-term power purchase agreement (PPA) has been signed with the Nigerian Bulk Electricity Trading Plc (NBET). The plant is expected to reach financial close by 2017 and start commercial operations 12 months later.

Last month, NBET signed the first power purchase agreements with solar power project developers. The NBET signed 12 PPAs with projects of 975 MW cumulative capacity. The developers shall sell power from these projects at US¢11.5/kWh for a period of 20 years.

Last year, the Nigerian Electricity Regulatory Commission approved feed-in tariff regulations for renewable energy sourced electricity. As per the provisions of the regulations, electricity distribution companies will be required to source at least 50% of their total procurement from renewable energy sources. The Commission has also mandated that the balance 50% electricity would have to be sourced from Nigerian Bulk Electricity Trading Company.

Scatec Solar is a renowned solar power developer with portfolio of 404 MW of commissioned solar projects with majority of this capacity located in Africa. Company also has presence in Czech Republic, South Africa, Honduras, Jordan and the US.

The company is looking to develop a several large-scale solar power projects across Africa. It signed an agreement to set up 250 MW capacity in Egypt. It is also working on the largest solar power project in west Africa – 33 MW project in Mali.

08/27/2016 0 comment

Renewable Energy

Indian Coal Miner Starts Construction Of Solar Power Projects

written by saurabh

India’s publicly-owned lignite mining and power generation company NLC India Limited, formerly Neyveli Lignite Corporation Limited, has announced commencement of construction activities at its third solar power project of 65 MW capacity at Neyveli.

This announcement was made by Sarat Kumar Acharya, Chairman and Managing Director of NLC India Limited to formally kick-start the construction activities on 65 MW solar project. The power plant will be built on an area of 325 acres and would entail an investment of Rs 350 crores (US$52 million). The project is expected to be commissioned in first week of June 2017.

The project will consist of approximately 238,000 solar photovoltaic modules with power generating capacity between 280-310 watts each. Electricity generated from the project will be fed to Tamil Nadu Generation and Distribution Corporation (Tangedco). The engineering, procurement and construction for the project has being undertaken by Bharat Heavy Electrical Limited (BHEL).

The construction of this project is part of company’s ambitious plan to establish 4,000 MW of solar power capacity in the states of Tamil Nadu, Karnataka, Kerala, Telangana and Rajasthan. These projects would be implemented under the National Solar Mission scheme announced by the central government.

The company has been slowly increasing its renewable energy portfolio. The company’s first solar project of 10 MW capacity got commissioned in September last year. Also, construction for the second solar power project with a capacity of 65 MW commenced in July this year. Jakson Engineering Limited is the engineering, procurement and commissioning contractor of the second solar power project.

08/27/2016 0 comment

Renewable Energy

Suzlon Energy Wins Repeat Wind Energy Order Of 132 MW From ReNew Power

written by saurabh

One of India’s largest renewable energy solution providers Suzlon Energy has received repeat order from Independent Power Producer ReNew Power Limited for 132 MW wind farm in Andhra Pradesh.

The contract signed with ReNew Power is for the supply of 48 units of S97 turbines with 90-metre tubular towers and 15 units of S97 with 120-metre hybrid towers. The rated capacity of each machine is 2.1 MW. In addition, Suzlon will provide a comprehensive range of services and dedicated life cycle asset management services for the wind farm for the first 12 years.

According to the statement issued by Suzlon Group, the project is capable of providing power to over 70,000 households and would off-take 0.28 million tonnes of CO2 emissions per annum. The expected commissioning of the project is by March 2017.

ReNew Power is one of the leading customers of Suzlon and both have worked together on over 510 MW of projects spanning across the states of Gujarat, Rajasthan, Maharashtra, Madhya Pradesh and Andhra Pradesh. ReNew Power has 220 MW of wind projects in pipeline in Andhra Pradesh.

Suzlon’s shares rose by nearly 2% after receiving this repeat order from ReNew Power. Suzlon was struggling with huge debt for the past few years, however, repeat orders like this would improve company’s condition and would help to regain stakeholder’s interest in once called India’s largest wind turbine manufacturing company.

08/27/2016 0 comment

Renewable Energy

Tata Power Solar Commissions India’s Largest Domestic Content Solar Power Project

written by saurabh

Indian solar module manufacturers may get a phycological boost as the country’s largest solar power project using Indian-made equipment was recently commissioned.

One of the Indian largest integrated solar companies, Tata Power Solar, a subsidiary of Tata Power has announced that it commissioned 100 MW solar project for NTPC in Anantapur, Andhra Pradesh.

In line with the Indian government’s Make-In-India initiative, project comprises of domestically manufactured solar cells and modules. This project has become the largest project to be commissioned under Domestic Content Requirement (DCR) category.

Project is built on a 500-acre site consisting of natural streams and hillocks which remain untouched during the project construction to maintain natural ecosystem. It is expected to generate nearly 160 million units (kWh) of energy and would help to offset approximately 110,000 tonnes of CO2 every year. It has also generated employment for 50 local people.

The project is part of the Anantapur ultra mega solar power project. The project now has an installed capacity of 250 MW. The second phase of the solar park will have 750 MW capacity; an additional 500 MW capacity shall come up at a different site within the state.

Tata Power Solar has delivered this project three months ahead of stipulated timelines. Project consists of innovative Balance-of-System (BoS) and cabling design along with optimised selection of evacuation infrastructure.

Tata Power Solar and NTPC have a strong track record of delivering projects in collaboration. Earlier, they have delivered 50 MW solar project using domestically made cells and modules in Rajgarh, Madhya Pradesh in 2014.

Till Now, Tata Power solar has commissioned over 250 MW of ground-mount utility scale projects across India.

08/25/2016 0 comment

Renewable Energy

India Allocates 270 MW Solar Power Capacity In Odisha Tender

written by saurabh

An emerging renewable IPP has managed to grab a massive share in yet another solar power auction held by the Solar Energy Corporation of India.

The results of the first major solar auction in the state of Odisha have been declared and Odisha has finally joined the long and rapidly expanding list of Indian states where large-scale solar power projects will come up under the central government policy.

In the latest solar auction conducted by Solar Energy Corporation of India (SECI) for Odisha, 270 MW capacity has been awarded to three solar firms. Out of total 270 MW tender, 240 MW has been awarded to Essel Green Energy, an arm of Essel Group while balance 10 MW has been awarded to Jyoti Infrastructure and 20 MW to IBC Solar Ventures.

All the successful bidders will be offered fixed tariff of INR4.43/kWh (US$0.067) combined with viability gap funding (VGF) provided by SECI. Essel Green sought capital cost support of INR 4.95 million (US$73,825) per MW whereas IBC Solar and Jyoti Infrastructure asked for INR 4.925 million (US$73,452) per MW and INR 4.915 million (US$73,303) per MW respectively. The VGF amount will be paid to the project developers as lump sum on commissioning which would effectively reduce the capital cost of the projects.

Earlier this year, SECI had announced floating of 450 MW and 50 MW tender for Odisha for projects to be developed under Phase II Batch IV of the National Solar Mission. The current auction of 270 MW is believed to be part of 450 MW original tender that was first reduced to 300 MW and then further to 270 MW during the bidding process.

Image by vectoropenstock.com for Cleantechies

08/24/2016 0 comment

Renewable Energy

First Solar Commissions 130 MW Capacity In India

written by saurabh

US-based solar module manufacturer First Solar has announced commissioning of two solar projects totalling 130 MW in the southern states of India through its Indian subsidiary, First Solar Power India Pvt. Ltd.

The company declared commercial operations of 80 MW solar PV project in the state of Andhra Pradesh and 50 MW solar PV project in the state of Telangana. With these projects the cumulative operational capacity owned by First Solar in India has increased to 150 MW.

The projects comprises of 1.4 million First Solar modules and are together expected to generate enough electricity to power approximately 227,500 local households annually and would offset 204,000 tonnes of carbon dioxide (CO2) emissions each year.

Power generated from these projects will be purchased by the local utilities Southern Power Distribution Company of Andhra Pradesh and Telangana State Southern Power Distribution Company under 25 year long-term power purchase agreements.

“After achieving a recent milestone of 1 GW of PV solar capacity footprint in India, we are delighted to add 130 MW of utility-scale solar power to the grid, growing our portfolio of operational solar assets to a cumulative capacity of 150 MW,” commented First Solar’s Country Head for India Sujoy Ghosh.

First Solar has been active in the India market since before the inception of the National Solar Mission. Earlier this year, the company had announced that its cumulative solar power module shipment to India has crossed 1 GW and it has become the first thin-film solar panel manufacturer to achieve this feat.

08/24/2016 0 comment

Renewable Energy

Enel Commissions 97 MW Solar Power Project In Chile

written by saurabh

Enel Green Power has commissioned yet another solar power project in Chile, strengthening its position as a major developer in one of the fastest growing renewable energy markets in South America.

Enel Green Power Chile, a subsidiary of the Italian parent, recently announced the operationalisation of 97 MW solar PV power project in the Atacama region of Chile. The Carrera Pinto project required a total investment of $180 million and is expected to generate more than 260 GWh every year.

The project is connected to Chile’s central grid Sistema Interconectado Central (SIC) which may allow it to export electricity to far-off places within the country. Several solar power projects located in the Atacama desert have been facing the problem of curtailment as localised consumption at copper mines has fallen sharply and in the absence of adequate transmission infrastructure developers have been forced to inject electricity into the grid for free.

Enel Green Energy already operates the largest solar power project in South America; the project is also located in Chile. The 160 MW solar PV project started electricity generation earlier this year. The project has the capacity of generate more than 400 GWh electricity every year enough to power around 198,000 Chilean households and offset more than 198,000 tonnes of carbon dioxide emissions. The project is connected to Chile’s Northern Region Transmission Network, SING (Sistema Interconectado del Norte Grande).

Chile, already an attractive market for renewable energy project developers, announced measures to strengthen transmission network for easy absorption of renewable energy projects. A recently approved legislation will create a new interconnected transmission network to be established alongside a new independent operator. This will ensure that power generated from renewable energy projects located in remote regions of the country is supplied to population centres.

A reverse auction held in Chile, earlier this month, for supply of 12.34 TWh electricity saw solar power bids plunging to global low of US¢2.91/kWh.

08/24/2016 0 comment

Renewable Energy

SunLink Announces 1.4 GW Solar JV With India’s Ganges Internationale

written by saurabh

A clean energy partnership agreement signed between the government of India and the United States of America is now reaping results.

US-based manufacturers of trackers for solar power modules SunLink has announced a joint venture with an Indian manufacturer of mounting structures. SunLink will work with Ganges Internationale to supply equipment for 1.4 GW of solar power capacity in India.

Ganges Internationale manufactures and supplies fixed tilt mounting structures for solar photovoltaic power projects. With this joint venture with SunLink, the company will likely integrate solar trackers into its mounting structures which will result in increased power generation for the project developers.

The joint venture deal comes only months after India and the United States signed an agreement to facilitate 5.4 GW of solar power capacity installation in India. Apart from SunLink, California-based 8minutenergy was also part of the agreement. While the company does not have a presence in the rapidly growing solar power market of India, it pledged to develop 4 GW capacity in the near future.

Private companies of the United States have been part of India’s solar power growth story since the very beginning. First Solar has been one of the largest suppliers of solar power modules to India and has been active since before the launch of the National Solar Mission in 2010.

SunEdison, which is now engrossed in financial troubles, had 1.4 GW solar power assets – which have now been sold to Greenko Energy Holdings. SunEdison played a major role in driving down solar power tariff in India through aggressive bidding.

08/21/2016 0 comment

Renewable Energy

India’s Andhra Pradesh Targets 3 GW Solar, Wind Energy Hybrid Capacity

written by saurabh

The southern Indian state of Andhra Pradesh has become the first one to response to the central government’s plan to set up large-scale solar and wind energy hybrid projects.

In a draft policy document issued by the Andhra Pradesh government a target set up 3 GW of solar-wind hybrid capacity has been stated. This is the first response by a state government to the centre’s plan to set up 10 GW of solar-wind hybrid capacity across the country.

Andhra Pradesh has an overall target to have 18 GW of renewable energy capacity operational by March 2022, which would represent just over 10% of the national target of 175 GW. The 18 GW renewable energy target has been divided into 10 GW of solar power and 8 GW of wind energy capacity.

Objectives of the state’s solar-wind hybrid policy includes use of new and innovative technologies such as energy storage.

The state government has announced a number of incentives for the existing as well as new hybrid allocations. Hybrid projects shall be exempted from transmission and wheeling charges, open access cross-subsidy charges as well as electricity duty. The projects will be free to sell electricity to any consumer within the state through open access connectivity. The projects will also have a ‘must-run’ status, that is, there would be no curtailment of generation.

Andhra Pradesh, being one of the coastal states of India, has ample wind energy resources. It is also among the fastest growing markets in the solar power sector with a massive pipeline of projects. As on 31 July 2016, the state had an operational solar power capacity of over 800 MW, or around 10% of the national installed capacity.

Recently, phase one of the 1.5 GW Anantapuram solar park in Andhra Pradesh was commissioned. NTPC Limited, which owns the solar power park, announced the operationalisation of 250 MW capacity, making it one of the largest solar power projects in India. The Solar Energy Corporation of India also announced plans to launch 100 MW energy storage tender for subsequent phases of the solar power park.

08/21/2016 0 comment

Renewable Energy

Sungrow To Supply 150 MW Solar Inverters To Mytrah Energy

written by saurabh

One of India’s rapidly growing renewable IPPs – Mytrah Energy – has placed a major order for inverters to be installed at solar power projects.

According a press release, Sungrow will supply inverters for 150 MW solar power capacity to Mytrah Energy. The inverters shall be installed at solar power projects coming up in the states of Telangana and Punjab.

Mytrah Energy started off as a wind energy project developer but like several other competitors it, too, ventured into solar power market. The company secured a total capacity of 377 MW in Telangana and Punjab solar power auctions. It also won rights to develop 45 MW capacity in Karnataka.

The company recently took steps to initiate work on solar power projects. It announced plans to raise approximately $185 million through equity finance for solar power projects. The company was looking to secure enough funds to achieve financial closure for 380 MW worth of solar power projects over the next 6 to 8 months.

Mytrah Energy is backed by some of the leading funds globally — Goldman Sachs, Apollo Funds, and Merrill Lynch International are all among the groups that have invested in the company. Mytrah Energy Limited was listed on the AIM segment of the London Stock Exchange in 2010 raising $80 million from institutional investors such as Capital Group, BlackRock, and Henderson. Since then, the company has raised about $570 million in debt to fund wind energy projects.

08/21/2016 0 comment

Renewable Energy

Dedicated Renewable Energy Trading Platform Planned In India

written by saurabh

India’s largest power trading platform Indian Energy Exchange is planning to set up a dedicated trading platform for renewable energy.

In a recent interview, officials of Indian Energy Exchange (IEX) stated that they are planning to introduced a dedicated power exchange for renewable energy projects. The officials stated that since the government plans to have 175 GW renewable energy installed by March 2022, project developers will likely look to have multiple options to sell their electricity.

The idea of a dedicated renewable energy trading platform will work only if private sector project developers look to set up projects outside the tenders floated by the state and central governments. Developers winning such tenders have to sign long-term power purchase agreements leaving them with no alternate options to sell electricity. This sometimes becomes a financial hurdles for the developers as not all off-takers are of sound financial condition to make regular payments to the developers.

The success of a renewable energy trading platform will be a challenge as distribution companies in India are not buying renewable energy certificates which help them meet their renewable purchase obligation. Several million of such certificates currently remain unsold with distribution companies not heeding to the pleas of the Ministry of New & Renewable Energy to rapidly increase the purchase of these certificates.

Indian Energy Exchange is looking to promote this dedicated platform as an alternate avenue for project developers to sell electricity and keep their project financial viable in case long-term agreements do not provide the desired revenue.

08/20/2016 0 comment

Renewable Energy

India’s Solar Power Tenders Tally Crosses 20 GW

written by saurabh

The Indian Minister for New and Renewable Energy recently gave an update about the solar power capacity tendered so far in the country.

Piyush Goyal, who heads the Ministry of New & Renewable Energy, reported to the Indian Parliament that a total of 20,766 MW capacity solar power tenders have so far been floated. Almost all, if not all, of these tenders are for solar PV technology with the ministry much less enthusiastic about concentrated solar power due to the poor performance of initial projects.

The minister reported that power purchase agreements for 8,482 MW capacity have already been signed. It is, however, not clear if this includes the installed capacity of 8,062 MW as on 31 July 2016.

Letters of Intent have been issued for a capacity of 3,392 MW while financial bids have been opened for 1,930 MW. Bids for 6,962 MW are yet to be opened.

The ministry has set a target to add 12 GW solar power capacity this financial year which is the most ambitious target ever announced for the sector.

The Indian government is looking to install large-scale solar power projects in the form of solar power parks around the country. At present, the ministry has approved solar power parks in 21 states with cumulative capacity of 19,900 MW. Phase two of the program will add another 20 GW capacity; this phase may be implemented through the introduction of solar zones.

08/20/2016 0 comment

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