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Solar Energy Corporation of India

India Cancels Solar+Storage Auctions Due To High Costs

written by saurabh

India’s first attempt to include battery-based storage with utility-scale solar power projects has failed.

Solar Energy Corporation of India recently announced that it had to cancel two solar+storage auctions. SECI believed that tariff bids for these projects could not have matched the bids for normal utility-scale solar power projects.

SECI had announced two tenders for implementing battery storage with solar power projects – 200 megawatts project at Pavagada solar power park in Karnataka and 100 megawatts project at Kadapa solar power park in Andhra Pradesh.

Project developers were asked to provide 2.5 megawatt-hour for every 50 megawatts capacity installed. Both the tenders involved viability gap funding mode. Participants had to bid for the lowest capital cost support required to set up the projects. SECI was willing to provide a maximum of ₹1 crore per megawatt as support.

In May this year, project developers placed the lowest-ever bid for a utility-scale power project at ₹2.44/kWh. Power utilities would prefer these new projects rather than slightly older ones whose tariffs are higher than thermal power plants. This was perhaps the reason SECI shelved the tenders as higher tariffs would not have found any takers in the market thus jeopardising the projects’ future.

Storage-equipped solar power plants are only a part of the overall strategy of the Indian government to integrate large-scale solar and wind energy projects. To safeguard the existing transmission network a dedicated transmission grid for renewable energy projects is being implemented. Additionally, several states have implemented regulations that require project developers to forecast their power generation to help grid operators schedule power while maintaining supply demand and frequency.



July 31, 2017 0 comment
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India Auctions 500 Megawatts Rooftop Solar Capacity With Lowest Bid At 3.4¢/kWh

written by saurabh

India has auctioned the largest capacity of rooftop solar power projects in history and the results are extremely promising and could provide a much-needed boost to the rooftop solar power market.

The Solar Energy Corporation of India (SECI) recently announced that it auctioned just over 503 megawatts of rooftop solar power projects across 35 states and union territories of the country. The auction was the first phase of 1 gigawatts rooftop solar power program announced by SECI; under the program rooftop solar power systems will be implemented atop government buildings across the country.

As per the data released by SECI, 50.2 megawatts was auctioned under the CAPEX model in 32 states. Under the model, the project owner and developer will contribute towards the project implementation through a mix of equity and debt funding and electricity will be sold at a tariff specified by the central or state regulators.

Bids under the CAPEX model were in the form of lowest capital cost needed to set up the systems. The maximum bid allowed was Rs 75,000/kW ($1,166/kW). The highest bid was recorded as Rs 65,000/kW ($1,010/kW).

Just over 453 megawatts capacity was awarded under the RESCO model where the developers will be required to bear the entire project cost upfront. The electricity will be sold at the tariff quoted by the developer during auction. Once the project breaks even all revenue from the sale of electricity will actually be developer’s profit.

The lowest tariff bids received under the RESCO model was Rs 2.20/kWh (3.4¢/kWh) for 11.2 megawatt capacity in the Andaman & Nicobar Islands. The highest bid was placed for 9.6 megawatts capacity in the state of Bihar at a tariff of Rs 4.59/kWh (7.1¢/kWh).

Some of the leading names in the Indian solar power market that participated in the auction include ReNew Solar Power, Mytrah Energy and Azure Power.

Under the both the models, project developers would also receive financial incentives depending on the time taken to commission the projects and their location; incentives will vary from $116/kW to $700/kW.



July 30, 2017 0 comment
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New Record-low Tariff Expected As Indian Wind Energy Tender Is Over-subscribed Three Times

New Record-low Tariff Expected As Indian Wind Energy Tender Is Over-subscribed Three Times

written by saurabh

Solar Energy Corporation of India (SECI) responsible to conduct wind energy auctions in India has seen tremendous response to the latest 1 gigawatt tender.

According to media reports, project developers have placed bids to set up a total of 2,898 megawatts against an offered capacity of 1,000 megawatts. The actual auction will take place soon, following some clarifications from the central regulator. This is the second wind energy auction undertaken in India at the central government level. The first auction took place in February this year.

The tender was oversubscribed with total 13 developers submitted bids equivalent to 2.6 gigawatts in comparison to 1 gigawatts bids called for. Bids were received from major giants including Adani Power, Hero Future Energies, Renew Power and Inox Wind. Most of the developers i.e. 69% bid to set up projects in  the state of Tamil Nadu.

The first-ever wind energy auction in India yielded the lowest-ever tariffs of Rs 3.46/kWh (5.2¢/kWh). Four companies – Mytrah Energy, Green Infra (owned by Sembcorp), Inox Wind and Ostro Energy were awarded 250 megawatts capacity each while Adani Green Energy secured rights to develop 50 megawatts capacity. This tariff is significantly lower than the tariffs currently being paid by various power distribution companies across India.

At least four developers that won projects in the first auction – Inox Wind, Green Infra, Mytrah Energy, and Adani Green Energy – have submitted bids to set up 250 megawatt capacity each in the second auction as well. Some of the other major players in the Indian market to have submitted bids include ReNew Power Ventures, Orange Renewable, Continuum Energy and Hero Future Energies. Enel Green Energy is also believed to have submitted a bid.

All but two project developers have reportedly mentioned Tamil Nadu or Gujarat as the host state for the projects.

With such a huge response to the tender experts believe that tariff bids could drop to a new low. With the success of such competitive auctions the state governments, too, have decided to launch their own auctions. Gujarat and Tamil Nadu have launched their respective tenders under the state government’s policy to meet renewable purchase obligation.

With the sharp fall in tariff bids compared to the prevailing feed-in tariffs for wind energy projects, several state governments have refused to sign power purchase agreements with under-construction or soon-to-be-commissioned wind projects.



July 25, 2017 0 comment
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Solar Energy Corp Of India Launches Fresh Tender For 750 Megawatts Solar

Solar Energy Corp Of India Launches Fresh Tender For 750 Megawatts Solar

written by saurabh

Following the massive success of two recent auctions at the Bhadla solar power park in the state of Rajasthan, the Solar Energy Corporation of India has announced two new tenders for the expansion of the solar park.

Solar Energy Corporation of India (SECI) will offer 500 megawatts and 250 megawatts through two tenders at Bhadla solar power through the viability gap funding mode. Project developers to be offered the projects at a fixed tariff of Rs 3.93/kWh (6.1¢/kWh) but will have to bid for the capital cost support needed from the government.

Developers, however, will also be free to quote tariffs lower than the benchmark and opt not to take any capital cost support.

The tenders have been launched under the phase II batch IV of India’s National Solar Mission. The SECI had announced a target to auction 5 gigawatts capacity through the viability gap funding mode. It has so far auctioned 4.5 gigawatts capacity, of which power purchase agreement have been signed for 2.5 gigawatts. Through these tenders SECI would achieve its target.

The benchmark tariff offered by SECI is at 61% premium to the current lowest tariff for solar power projects. In May this year, ACME Cleantech Solutions secured a project at the Bhadla solar power park at Rs 2.44/kWh (3.8¢/kWh); no capital cost assistance was offered in that auction.

Thus, the higher tariff at offer, along with the capital cost assistance will act as a double bonanza for project developers. It would not be surprising if developers bids for lower tariff and no capital cost assistance.

We have seen extreme competition among project developers over the last few months in India. Tariff bids in India crashed 26% in a matter of just three months.

Acme Cleantech Solution (200 megawatts) and SB Cleantech (300 megawatts) were the winners in (Bhadla solar park) auction at a tariff of Rs 2.44/kWh and Rs 2.45/kWh (3.8¢/kWh), respectively. The massive jump in competition within two days is evident from the fact that Acme Cleantech Solutions reduced its bid from a losing one of Rs 3.36/kWh (5.2¢/kWh) in the 250 megawatts Bhadla auction to just Rs 2.44/kWh (3.8¢/kWh) for the 500 megawatts auction – decline of 27.4% in a matter of two days.



June 25, 2017 0 comment
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Another Indian State Launches 500 Megawatt Wind Energy Tender

Another Indian State Launches 500 Megawatt Wind Energy Tender

written by saurabh

The massive response to the country’s first-ever wind energy auction has prompted Indian states to switch from feed-in tariff mechanism to competitive auctions.

After Gujarat, now Tamil Nadu has also issued a tender to auction 500 megawatts of wind energy capacity. This marks a major shift in India’s wind energy market which is also the largest contributor to its renewable energy capacity with a share of 56%. Tamil Nadu leads all states in terms of installed wind energy capacity.

Tamil Nadu aims to allocate 500 megawatt wind energy capacity in order to secure enough electricity to meet its renewable purchase obligation wherein all power utilities are required to source a set minimum percentage of electricity from renewable energy projects. At the national level India targets share of renewable energy at 15% of total electricity consumption by March 2022.

The maximum bid that can be submitted by a project developer for the tender is Rs 3.46/kWh (5.4¢/kWh) the tariff discovered in the first-ever wind energy auction in India. The auction was organised by the Solar Energy Corporation of India earlier this year.

The tender was oversubscribed with total 13 developers submitted bids equivalent to 2.6 gigawatts in comparison to 1 gigawatts bids called for. Bids were received from major giants including Adani Power, Hero Future Energies, Renew Power and Inox Wind. Most of the developers i.e. 69% bid to set up projects in  the state of Tamil Nadu.

Mytrah Energy, Green Infra, Inox Wind, Ostro Energy and Adani Group were the successful bidders grabbing a total of 1,050 megawatt capacity at a tariff of Rs 3.46/kWh.

The auction route would be highly beneficial to the power utility of Tamil Nadu. Like several other utilities in India Tamil Nadu Generation and Distribution Company (TANGEDCO) regularly faces financial issues and delays payments to project developers.

With the benchmark set at Rs 3.46/kWh (5.4¢/kWh) TANGEDCO will get at least 16.8% discount over the prevailing feed-in tariff in the state.

Already, Karnataka, Andhra Pradesh and Gujarat has directed their power utilities not to sign power purchase agreements with wind energy project developers at feed-in tariffs. Gujarat recently floated a tender to acquire 500 megawatts wind energy.

The state tenders will complement the aggressive push by the Ministry of New & Renewable Energy at the central level.

The Solar Energy Corporation of India has announced that it will auction 4,000 megawatts of wind energy capacity this financial year, i.e. by March 2018. The agency shall offer this capacity to prospective project developers in multiple trenches. SECI is also expected to launch wind energy tenders of 5,000-6,000 megawatts every year till 2022.

India plans to have installed wind energy capacity of 60 gigawatts by March 2022, these auctions are will be aligned to achieve this goal. India’s current installed wind energy capacity stands at just over 32 gigawatts.



June 23, 2017 0 comment
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Indian State Of Uttar Pradesh Plans 750 Megawatts Of Solar Power Project

Indian State Of Uttar Pradesh Plans 750 Megawatts Of Solar Power Project

written by saurabh

The unprecedented success of Rewa and Bhadla solar power auctions has promoted several Indian states to undertake similar auctions.

Now, Uttar Pradesh is planning to acquire 750 megawatts solar power from a project located within the Bhadla solar power park in neighbouring state of Rajasthan.

Officials of the Rajasthan Renewable Energy Corporation, the Solar Energy Corporation of India and the Ministry of New and Renewable Energy will soon chalk out the terms of auction.

The power generated at Bhadla solar power park will be transmitted to power utilities in Uttar Pradesh at no additional charges as the MNRE has exempted solar and wind energy projects from inter-state transmission and wheeling charges.

This off-site model of solar power procurement has been in practice for a while now. The state of Haryana had auctioned projects that would be installed in Rajasthan. Better solar radiation, availability of barren land and existing transmission infrastructure makes Rajasthan an apt location to set up large-scale solar power projects.

Delhi Metro Rail Corporation signed agreement to procure electricity generated at Rewa solar power park in Madhya, nearly 800 kilometres away. A Delhi-based utility also signed an agreement with SunEdison to procure electricity from a 180 megawatts solar power project that was supposed to come up in Madhya Pradesh.

The Indian government’s project of Green Energy Corridors promotes such off-site project development. It encourages states deficient in renewable energy resources to procure electricity through dedicated transmission lines.



May 27, 2017 0 comment
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Indian Hydro Power Company Scouts Partner For 500 Megawatt Solar Venture

Indian Hydro Power Company Scouts Partner For 500 Megawatt Solar Venture

written by saurabh

SJVN Limited is looking for a partner to set up solar power capacity of 500 megawatts. The state-owned company plans a joint venture which will participate the auctions organised by other public sector companies.

In the proposed joint venture SJVN shall have a minimum of 26% share. Eligible parties to the joint venture must meet certain conditions. In case of project developers, they should have commissioned at least 50 megawatts of cumulative capacity. In case of PV module manufacturers, the production capacity should be at least 100 megawatts.

SJVN is among several public sector companies in India that plan to set up large-scale solar and wind energy projects across the country as part of the government’s ambitious renewable energy targets.

A four gigawatts solar power park is being planned in Rajasthan by various public sector companies, including SJVN and Solar Energy Corporation of India.

The offer for partnership by SJVN offers a unique opportunity for private sector project developers struggling to survive in the extremely competitive Indian solar power market. Being partner to a public sector company could allow project developers access to cheaper debt finance which has proven to be critical for bidding at competitive tariffs.

From the point of view of the buyer as well the presence of a government-owned entity helps boost confidence regarding longevity and proper execution of the project.



May 24, 2017 0 comment
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Government-backed Solar Energy Corporation Of India Eyes International Markets

Government-backed Solar Energy Corporation Of India Eyes International Markets

written by saurabh

Following the tremendous success in organisation of auction in the solar and wind energy markets, the Solar Energy Corporation of India is now looking to foray into international markets.

Managing Director of SECI, Ashwini Kumar, recently told a media outlet that the entity is considering to enter other developing markets in Asia and Africa with an intention to increase renewable energy access. He also stated that governments of several countries have shown interest in this regard.

Solar Energy Corporation has successfully organised several large-scale solar power auctions which have resulted in a massive decline in solar power tariffs. Since 2010 the solar power tariffs have collapsed 73% in competitive auctions; large-scale capacities offered by SECI in recent years have contributed the most to this decline.

The Indian government registered SECI as a company and allowed it to generate revenues like any other government-owned entity. SECI generates revenue from regulatory fees as well as through trading margin in-built into the power purchase agreements of several solar and wind energy projects it auctions. SECI also organises auctions for several private and public sector companies which want to set up projects but lack the infrastructure or the credibility that comes with a government-backed entity like SECI.

SECI can also play a major role in helping developing markets in Asia and Africa to develop their own renewable energy programs and policies. It can share best practices with these emerging renewable energy markets which will ensure sustained and cost-efficient growth of clean energy.

SECI has played a major role in making the International Solar Alliance (ISA) a reality. The ISA, a brainchild of Indian Prime Minister Narendra Modi, is a treaty backed association of 121 countries looking to partner in a goal to reduce solar power costs and increase electricity access through solar power. The ISA signed an agreement with the World Bank to mobilise $1 trillion in solar power investments by 2030.



April 28, 2017 0 comment
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India Plans 4,000 Megawatts Wind Energy Tender This Year

India Plans 4,000 Megawatts Wind Energy Tender This Year

written by saurabh

Following the massive success of the first-ever wind energy tender, the Ministry of New & Renewable Energy in India is planning to launch another tender this year four times the size.

The Solar Energy Corporation of India has announced that it will auction 4,000 megawatts of wind energy capacity this financial year, i.e. by March 2018. The agency shall offer this capacity to prospective project developers in multiple trenches. SECI is also expected to launch wind energy tenders of 5,000-6,000 megawatts every year till 2022.

India plans to have installed wind energy capacity of 60 gigawatts by March 2022, these auctions are will be aligned to achieve this goal. India’s current installed wind energy capacity stands at just over 32 gigawatts.

India added a record 5,400 megawatt wind energy capacity was added during the financial year 2016-17 (April 2016 to March 2017). This is 35% more than the envisaged target of 4,000 megawatts set at the start of the financial year. Between April 2016 and February 2017, a total of 2,374 megawatts of wind energy capacity was added. In March 2017 alone the capacity addition jumped to 3,026 megawatts.

Chairman of the Indian Wind Turbine Manufacturers Association (IWTMA) recently stated that a record 6,000 megawatts wind energy capacity is expected to be added in financial year 2017-18 which will be 11% higher than the 5,400 megawatt capacity added in 2016-17, also a record.

The first-ever wind energy auction in India yielded the lowest-ever tariffs of Rs 3.46/kWh (5.2¢/kWh). Four companies – Mytrah Energy, Green Infra (owned by Sembcorp), Inox Wind and Ostro Energy were awarded 250 megawatts capacity each while Adani Green Energy secured rights to develop 50 megawatts capacity.



April 23, 2017 0 comment
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Indian Railways Eyes 700-800 Megawatts In Mega Solar Power Park

Indian Railways Eyes 700-800 Megawatts In Mega Solar Power Park

written by saurabh

On the heels of the successful allocation of 750 megawatts solar power capacity at record-low rates, the Indian Railways is now looking to replicate this model to ensure cheap and sustainable power supply.

The Indian Railways has approached the government of Madhya Pradesh will a proposal to set up a mega solar power park with a capacity of 700-800 megawatts. The project will come up at Shajapur, a few hundred kilometres east of the Rewa solar power park which received the lowest-ever tariff bid ever in India.

The Delhi Metro Rail Corporation (DMRC) recently signed a power purchase agreement to procure 24% of the electricity generated from 750 megawatts Rewa solar power park. The Indian Railways is looking to replicate the same model.

Auction for Rewa solar power park yielded levelised tariff of Rs 3.30/kWh, the lowest-ever tariff at that time (now the second lowest).

Three units of 250 megawatt each were recently auctioned by the Solar Energy Corporation of India. The three units of the solar power park have been awarded at tariffs of Rs 2.970 to Rs 2.979 per kWh (4.4¢/kWh). The lowest bid was placed by ACME Cleantech Solutions, one of the leading solar power project developers in India. Mahindra Renewables, part of a large industrial conglomerate, secured a 250 MW unit at Rs 2.974/kWh, and Solenergi secured the third unit at Rs 2.979/kWh.

The bids placed by these developers are for only the first year of project operations. The tariffs will increase by Rs 0.05/kWh (0.07¢/kWh) for a period of 15 years. Thus, the levellised tariff for all three units will be around Rs 3.30/kWh (4.9¢/kWh).

The Madhya Pradesh government is said to be in talks with Noida Metro and Coal India as well to set up a solar power parks. Last year, the state government signed an agreement with Indian Oil Corporation and Oil India to set up 1,000 megawatts solar power park in Chhatarpur district.

A recent study showed that the Indian Railways can source 25% of its energy needs from renewable energy sources by 2025. This can be realised, in part, through the Railways’ plan to set up 5 gigawatts of solar power capacity across the country.

Image by vectoropenstock.com for Cleantechies



April 22, 2017 0 comment
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Indian States Look To Abandon Wind Feed-in Tariffs After Successful Auction

Indian States Look To Abandon Wind Feed-in Tariffs After Successful Auction

written by saurabh

Following a sharp correction tariff rates for wind energy projects in the first-ever competitive auction in India in February several states have refused to sign fresh power purchase agreements at higher feed-in tariffs.

According to media reports, states of Gujarat and Andhra Pradesh have declined to sign any fresh power purchase agreements with wind energy project developers. The power distribution companies in these states have expressed reluctance to the respective regulatory bodies in signing PPAs at feed-in tariffs higher than the recently discovered tariffs.

A total capacity of 500 megawatts is now reportedly stranded due to the unwillingness of power distribution companies to enter into PPAs.

The feed-in tariffs in FY2016-17 for Andhra Pradesh was Rs 4.84/kWh (7.5¢/kWh) and for Gujarat was Rs 4.19/kWh (6.5¢/kWh). The tariff discovered in the first-ever auction organised by the Solar Energy Corporation of India (SECI) was Rs 3.46/kWh (5.4¢/kWh). States determine their own feed-in tariffs but the tariff discovered in the auction shall be uniform across the country, irrespective of the wind energy potential of states.

Four companies – Mytrah Energy, Green Infra (owned by Sembcorp), Inox Wind and Ostro Energy were awarded 250 megawatts capacity each while Adani Green Energy secured rights to develop 50 megawatts capacity.

The Indian government is expected to launch similar auctions in the future and state governments may also adopt the route of competitive auctions to increase wind energy capacity instead of relying on feed-in tariff mechanism.

The Gujarat Electricity Regulatory Commission has already directed the power distribution companies to procure wind and solar power through competitive auctions only. The feed-in tariffs determined by the regulator shall act at ceiling price in the auctions.

Image by vectoropenstock.com for Cleantechies



April 20, 2017 0 comment
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India Issues Draft Guidelines For Wind Energy Auctions

India Issues Draft Guidelines For Wind Energy Auctions

written by saurabh

In an effort to incentivise power distribution companies to increase procurement of wind power the Ministry of New & Renewable Energy in India plans to implement a wind energy auction roadmap.

The Ministry of New & Renewable Energy recently issued draft guidelines for auction of wind energy projects and sought comments from various stakeholders. The guidelines are similar to the ones mentioned in the tender documents of the first-ever wind energy auction held in February this year.

As per the proposals of the Ministry, any wind energy developer can bid for minimum 5 megawatts capacity at a single site and at least 25 megawatts capacity in an auction. The power distribution company looking to acquire electricity is free to choose the tariff structure for the auction.

The power purchase agreement shall not be for less than 25 years. In case of under-performance by the wind energy project the developer shall have be liable to penalties.

Significantly for the project developers, the guidelines also specifically mention clauses related to payment security. Non-payment of dues is perhaps the biggest challenge the Indian renewable energy sector faces today. Payment security measures proposed by the Indian government would lend much needed support to the project developers. These measures could include a Payment Security Fund and guarantees issued by the state governments themselves.

Project developers may also receive compensation if they are unable to feed the grid due to lack of adequate transmission capacity at any given time. This will help address another major challenge faced by the renewable energy projects which are often forced to reduce generation by power distribution companies.

The first-ever wind energy auction in India yielded the lowest-ever tariffs of Rs 3.46/kWh (5.2¢/kWh). Four companies – Mytrah Energy, Green Infra (owned by Sembcorp), Inox Wind and Ostro Energy were awarded 250 megawatts capacity each while Adani Green Energy secured rights to develop 50 megawatts capacity. This tariff is significantly lower than the tariffs currently being paid by various power distribution companies across India.

The sharp fall in tariffs discovered through the auction have resulted in several states backing-out from commitments to sign new power purchase agreements. Power distribution companies in the states of Gujarat and Andhra Pradesh have declined to sign any fresh PPAs with wind energy project developers. The power distribution companies in these states have expressed reluctance to the respective regulatory bodies in signing PPAs at feed-in tariffs higher than the recently discovered tariffs.



April 18, 2017 0 comment
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Fresh 750 Megawatt Solar Power Tender Announced In India

Fresh 750 Megawatt Solar Power Tender Announced In India

written by saurabh

India’s largest power producer NTPC Limited has launched a fresh tender for the country’s largest solar power park.

NTPC Limited is offering six blocks of 125 megawatt capacity each to project developers at the Pavagada solar power park in the southern Indian state of Karnataka. The solar park is being developed as a joint venture between Karnataka Solar Power Development Corporation Limited and Solar Energy Corporation of India Limited.

The tender terms will allow project developers to procure solar power panels from Indian or foreign manufacturers. With land already acquired and freedom to choose cheaper modules, the tariffs for this auction are expected to be in line with the trends seen in the last few months.

Pavagada solar power park will have an eventual capacity of 2,700 megawatts. First phase of the solar power park, with 500 megawatts capacity, will likely be operational by June this year.

NTPC Limited had auctioned 500 megawatts capacity among six project developers. The highly competitive auction saw allocation of the projects at tariffs Rs 4.78/kWh to Rs 4.80/kWh. The power generated from these projects will be shared by the distribution utilities of Karnataka.

Solar power parks are expected to the backbone of India’s National Solar Mission which targets 100 gigawatts of operational capacity by 2022. The initial target for contribution by solar power parks was 20 gigawatts which was recently increased to 40 gigawatts by the government.



March 22, 2017 0 comment
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Canadian Solar Signs 80 Megawatts Solar PPA In India

Canadian Solar Signs 80 Megawatts Solar PPA In India

written by saurabh

Chinese solar panel manufacturer Canadian Solar has announced that it signed a power purchase agreement in India for the sale of electricity generated from a large-scale project.

Canadian Solar secured rights to develop an 80 megawatt solar power project in a competitive auction organised by the Solar Energy Corporation of India. The project will come up in the western state of Maharashtra.

The project was part of an auction that allocated a total of 450 megawatt capacity through viability gap funding mode.

In viability gap funding the government offers financial support to bidders for setting up projects. Canadian Solar is eligible to Rs 4.43/kWh tariff for a period of 25 years. The company will also receive $30,379 per megawatt support for the project.

Shawn Qu, chairman and chief executive of Canadian Solar, said: “We are pleased to secure our first 80MW(ac) of solar power projects with SECI, a bankable and reputable off-taker operating under the Government of India. This investment adds to our India pipeline that stands at 110MW(ac) and represents a significant milestone for Canadian Solar in one of world’s fastest growing renewables markets.”

Apart from developing its power projects Canadian Solar also owns stake in two solar power projects of 15 megawatt capacity each in Telangana. The projects are being developed by Suzlon Energy which also secured the projects in competitive auction.



March 22, 2017 0 comment
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