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SkyPower Global

SoftBank, SkyPower Global Eye Share In 1 GW Solar Power Park In India

written by saurabh

A number of Indian and foreign project developers are looking to set up projects under the planned 1 GW solar power park in the Indian state of Odisha.

According to media reports, interested developers include SoftBank-led SB Energy and Canada-based SkyPower Global. Among the Indian developers looking to set up projects are Azure Power, Panchvaktra Holdings, Orange Renewable and Shapoorji Pallonji.

Last year, the government of Odisha has announced plans to set up 1 GW solar power park spread over 5,000 acres of land. The state would acquire 20% of the electricity generated while the developers shall be free to sell the balance in open market, perhaps one of the reasons for such great interest shown by these companies.

Under the public partnership model, Green Energy Development Corporation of Odisha Ltd (GEDCOL), a 100 per cent subsidiary of Odisha Hydro Power Corporation would be the nodal agency for implementation of the solar park. GEDCOL would partner with Solar Energy Corporation of India (SECI) for development of this park.

Auction of projects that will form part of the solar power park will likely by conducted by the Solar Energy Corporation of India (SECI) which also recently auctioned 270 MW solar power capacity in the state.

09/24/2016 0 comment

Articles Renewable Energy

BYD, SkyPower Join Hands For India Solar Energy Storage Bid

written by saurabh

Global project developers are vying for a landmark solar power tender planned in India that shall also include, for the first time, energy storage solutions as well.

Chinese battery maker BYD and Canada-based project developer SkyPower Global have entered an agreement to bid for solar power projects in India. While the two companies have not categorically stated which tender they shall be jointly bidding for but media reports suggest that it could be the 750 MW tender for 1.5 GW Ananthapuram solar power park in the state of Andhra Pradesh.

The Solar Energy Corporation of India, earlier this year, announced that a 750 MW tender for the Ananthapuram solar power shall be launched. The tender shall also include installation of 100 MW of energy storage capacity.

The first phase of the solar power consists of 250 MW. Of this, 200 MW was commissioned few weeks back while the balance 50 MW is expected to the commissioned by October 2016. An additional capacity of 500 MW for the project had also been earmarked at a different location.

This will be the first large-scale implementation of battery-based energy storage technology in India. This experiment will be extremely critical for the broad-based adoption of renewable energy in India. The country aims to have 175 GW of operational renewable energy capacity by March 2022.

Existing transmission infrastructure is nowhere close to capable of handling such massive capacity of intermittent power source. Thus, the success of battery-based energy storage will be crucial. Another problem with the Indian solar power programme is that it had given up on solar thermal power projects where energy storage is a tried and tested concept. The programme is overwhelming dependent on solar photovoltaic projects.

05/24/2016 0 comment

Articles Renewable Energy

SkyPower Selects Sterling and Wilson To Construct 350 MW India Solar Projects

written by saurabh

Just days after some media outlets had reported that SkyPower Global may be looking to sell equity stake in its under-development solar power projects in India, the company has taken a major step towards the implementation of these projects.

Canada-based renewable energy projects developer SkyPower Global has selected Sterling and Wilson as the EPC contractor for 350 MW solar power projects in India.

SkyPower Global had secured 200 MW solar power capacity through competitive auctions in the state of Telangana and another 150 MW in the state of Madhya Pradesh. Sterling and Wilson shall execute this capacity in 7 projects of 50 MW capacity each.

Progress by SkyPower on some of the largest solar power projects in India is a massive boost for the image of the country’s solar power market. A number of analysts continue to feel that solar PV bids have fallen too low, too fast making the projects financially unviable.

Poor financial condition of SunEdison which has 1.7 GW under-development solar power capacity in the country only strengthened this argument. But SkyPower completed the regulatory requirements associate with these projects and has now taken another major step towards the final commissioning of the projects.

Construction of the projects is expected to begin in the third or fourth quarter of this year; following which commissioning can be expected in around a year.

05/03/2016 0 comment

Renewable Energy

Foreign Developers Fail To Make The Cut In India 500 MW Solar Power Auction

written by saurabh

Six project developers wrapped up 500 MW solar power tender with difference in their tariff bids of less than one US cent.

Interestingly, only a single foreign project developer could make the cut. Foreign project developers, like SkyPower Global, SunEdison and Fortum, have so far led the record-breaking solar power tariffs in India.

SkyPower Global is not believed to have participated in the auction while SunEdison could not submit a winning bid. Fortum Group managed to secure rights to develop 100 MW project at Rs 4.79/kWh (US¢7.2/kWh). Canadian Solar also participated in the bidding process but failed to quote a low enough tariff bid. The projects shall be part of the 2 GW ultra mega solar power project coming up in the southern state of Karnataka.

Apart from Fortum Group, all other winning developers are based in India. RattanIndia Power and ReNew Power Ventures won bids for 50 MW capacity each. Adani Enterprises, ACME and Tata Power secured the rights to develop 100 MW capacity each.

Participation by SunEdison should come as nothing short of a surprise. The company secured rights to develop a 500 MW project in Andhra Pradesh last year at Rs 4.63/kWh (US¢6.9/kWh) but is believed to be having problems implementing the project due to its poor financial condition.

04/20/2016 0 comment

Renewable Energy

SkyPower May Sell Equity Stake In India Solar Power Projects

written by saurabh

After SunEdison, now another global renewable energy behemoth SkyPower is looking to sell equity stake in the solar power projects it had recently secured in some of the fiercest competitive auctions in India.

Subsidiary of SkyPower Global that secured 150 MW projects in the Madhya Pradesh solar power auction last year is now reportedly looking to sell equity stake in the projects. A report by Indian business daily Economic Times stated that the company may completely exit the Indian market by selling the entire equity stake in the projects.

Kerry Adler, President and CEO – SkyPower Global subsequently cleared the air on this report stating that while the company is indeed ‘looking for partners’ to execute the solar power parks India remains a ‘core market’ for the company.

The company had secured these projects with tariffs bids of just over Rs 5.00/kWh which are still among the lowest tariffs in the India.

SkyPower had also secured 200 MW solar power capacity at similar tariffs in the state of Telangana. Interestingly, the company has deposited bank guarantees and signed power purchase agreements for projects in both the states. The company had announced that construction on Madhya Pradesh projects shall start this year.

Recently, Indian media outlets had quoted SunEdison officials stating that the company is looking to sell up to 49% stake in a 500 MW solar power project that it had secured in an NTPC-backed auction last year. The project would be the largest in India to be developed by a single company.

04/17/2016 0 comment