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Solairedirect

Too Much Solar Power: Indian State Refuses Power From One Of Country’s Cheapest Solar Projects

written by saurabh

Solar power market in India seems to have expanded at such an astounding pace that now states are unwilling to accept more solar power market, such a case has propped up in the state of Andhra Pradesh.

According to media reports, Andhra Pradesh has refused to sign power purchase agreement for 250 megawatt solar power project part of the Kadapa solar power park stating that it has sufficient solar power coming up and does not required any more at the moment.

The project in question was secured by Solairedirect, a subsidiary of French energy major Engie. Solairedirect submitted a winning bid of Rs 3.15/kWh (4.9¢/kWh) in an auction organised by the Solar Energy Corporation of India for NTPC Limited which is developing the solar power park. NTPC Limited, the largest power generation company in India, was supposed to sign the power purchase agreement with Solairedirect and would have then supplied it to power utilities in Andhra Pradesh.

Andhra Pradesh had an installed solar power capacity of 1,294 megawatts at the end of March 2017 and is expected to increase it to 1,867 megawatts by March 2018. The state utilities thus claim that they have contracted enough solar power and do not require additional supply.

While the power utilities claim to have contracted enough solar power, the math does not add up.

The Andhra Pradesh Electricity Regulatory Commission (APERC) has proposed to increase the share of renewable energy in its electricity mix to 25.25% by March 2022. For non-solar renewable energy technologies, APERC has proposed a target of 12.50% by March 2022. The commission has also proposed to increase the solar power share from 4.75% in 2017-18 to 12.75% in 2021-22.

According to the Ministry of New & New Renewable Energy (MNRE) at 8% solar RPO target, Andhra Pradesh would require 9,834 megawatts operational capacity by March 2022. At 12.75% this capacity requirement would increase substantially.

Project developer Solairedirect is not expected to suffer from this setback as NTPC is free to approach power utilities of other states to sell this electricity. Several states across India are yet to move towards solar power on a large-scale.

07/31/2017 0 comment

Renewable Energy

French Energy Major Engie joins Buyout Queue For Equis Energy India Assets

written by saurabh

Indian media outlets have reported new development on the market buzz that Equis Energy, a renewable energy IPP in India, is looking to sell its assets.

Business daily Mint has reported that French utility Engie may be looking to acquire the Indian assets from Equis Energy. Equis Energy operates its India assets through two companies – Energon and Energon Soleq. Energon has operational assets of 414 megawatts while Energon Soleq has operational and under-construction assets of 560 megawatts. Equis Energy recently entered a new agreement with the government of Haryana which will enable the company’s expansion into markets other than utility-scale solar market.

Equis … signed an agreement with the government of Haryana to set up canal-top solar power projects. Under the agreement, Equis would invest $150 million to develop an undisclosed number or capacity of canal-top solar power projects.

In June, another company – Hero Future Energies – was reported to be in talks with Equis Energy to acquire these assets. No new development has been reported in this regard since.

Engie, through its subsidiary Solairedirect, is a major participant in the rapidly growing India solar power market. So acquisition of Energon Soleq could prove to be a logical expansion of Solairedirect’s portfolio as the latter missed out on several power projects in competitive auctions.

Solairedirect has grand plans in India.

Chief executive officer at Engie Isabelle Kocher recently stated that the company is looking to secure at 400 megawatts solar power capacity every year with a planned investment of $1 billion over the next five years in India.

Solairedirect has been very competitive in reverse auctions across India.

In January 2016, the company nearly tied for the lowest solar power tariff in India at that time. The company secured rights to develop 140 megawatts at the Bhadla solar power park in the state of Rajasthan; it placed a winning bid of Rs 4.35/kWh (6.7¢/kWh).

Solairedirect won rights to develop a 250-megawatt solar power project in the Kadapa solar power park being developed in the state of Andhra Pradesh. The company placed a winning bid of Rs 3.15/kWh (4.8¢/kWh), 4.5% lower than the previous record of Rs 3.30/kWh (5.1¢/kWh) levelized tariff set in February 2017.

Image by vectoropenstock.com for Cleantechies

07/24/2017 0 comment

Renewable Energy

French Energy Major Engie Plans At Least $1 Billion Solar Investment In India

written by saurabh

French energy company Engie has announced plans to invest ‘a minimum’ $1 billion in India as it looks to strengthen its share in the rapidly growing solar power market.

Chief executive officer at Engie Isabelle Kocher recently stated that the company is looking to secure at 400 megawatts solar power capacity every year with a planned investment of $1 billion over the next five years in India. Engie is present in India through a subsidiary – Solairedirect.

Solairedirect is among the leading foreign solar power project developers operating in India, and is also among the first movers, operating since the launch of the National Solar Mission in 2010. The company has been at the forefront of the recent sharp decline in solar tariff bids in India.

In January 2016, the company nearly tied for the lowest solar power tariff in India at that time. The company secured rights to develop 140 megawatts at the Bhadla solar power park in the state of Rajasthan; it placed a winning bid of Rs 4.35/kWh (6.7¢/kWh).

Solairedirect set another record recently in an auction for a solar power park being developed by India’s largest power generator NTPC Limited.

Solairedirect recently won rights to develop a 250-megawatt solar power project in the Kadapa solar power park being developed in the state of Andhra Pradesh. The company placed a winning bid of Rs 3.15/kWh (4.8¢/kWh), 4.5% lower than the previous record of Rs 3.30/kWh (5.1¢/kWh) levelized tariff set in February 2017.

Solairedirect currently owns only solar power projects in India but is looking to diversify into wind energy as well. Malcolm Wrigley, Engie’s India CEO stated that the company could participate in the upcoming wind energy auctions.

05/31/2017 0 comment

Renewable Energy

Engie, Solairedirect To Develop 400 MW Solar Power Projects In Chile

written by saurabh

Engie Energia Chile and Solairedirect, subsidiaries of French utility Engie, have announced plans to jointly develop 400 MW of solar power in Chile.

The two companies have agreed to work on photovoltaic (PV) projects in the northern and central parts of Chile for a period of one year. Both the companies will own the project equally, however, Engie Energia has an option to acquire 100% of the project.

Engie Energia Chile holds a fossil-fuel dominated generation portfolio across Chile supplying power mainly to industrial and mining companies’ located in Chile’s Great North.

Solairedirect already has presence in Chile’s solar market and inaugurated its first solar park in Andacallo in December 2013. Company also recently won a 23 MW PV project at a tender in Mexico, offering a price of $48/MWh.

Recently at country’s biggest power auction, both these companies had jointly submitted a bid to offer services for 83 MWp Capricornio PV project, however, it was not selected in the tender. In the auction, SunEdison set a new record-low solar bid at 2.91¢/kWh ($29.1/MWh).

Engie, through its various subsidiaries, operates two solar power projects in Chile and in process of building a third one with an aggregate capacity of 55.3 MW.

Image by vectoropenstock.com for Cleantechies

08/30/2016 0 comment