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Tata Power

Tata Power Renewable Energy Signs 100 MW PPA In Indian Solar Power Park

written by saurabh

The Ananthapuram solar power park in India’s Andhra Pradesh state continues to progress at a healthy rate with power purchase agreement being signed for yet another project.

Tata Power Renewable Energy has reportedly signed a power purchase agreement with the Solar Energy Corporation of India (SECI) Limited for a 100 MW solar PV project at Ananthapuram, Andhra Pradesh.

The project was allocated to as part of a competitive auction held by SECI in May 2016. A total capacity of 400 MW was allocated among four companies. The companies are free to use either imported modules or those manufactured/assembled in India.

All companies will sell electricity at Rs 4.43/kWh (US¢6.7/kWh) for a period of 25 years. The developers shall receive capital cost support as per their approved bids. Tata Power Renewable Energy secured the project at a bid of Rs 7,399,990 per MW (US$111,161 per MW). Other developers that won projects are Fotowatio Renewable Ventures (100 MW), Acme Solar (150 MW) and Azure Power (50 MW).

The Ananthapuram solar power park will have an installed capacity of 1 GW once fully commissioned. 250 MW capacity is already operational at the solar park – including 100 MW owned and operated by Tata Power Renewable Energy. With an additional 400 MW capacity auctioned in May this year, a balance 350 MW auction is pending.

October 26, 2016 0 comment

India’s Tata Power Renewable Energy Wins 100 MW Solar Power Capacity

written by saurabh

Subsidiary of one of India’s leading private sector power companies – Tata Power – recently won rights to develop large-scale solar power projects in the southern state of Karnataka.

Tata Power Company recently reported that its subsidiary Tata Power Renewable Energy received letter of intent for development of two solar power projects with 50 MW capacity each. The projects shall be located in the southern state of Karnataka.

The projects will be part of a larger solar power park in the state. Power generated from this solar power park shall be bundled with power generated from thermal power projects in order to make it cheaper for the utilities to purchase the bundled electricity.

Tata Power Renewable Energy shall sell the electricity to NVVN Limited, a subsidiary of NTPC Limited (India’s largest power generation company) at a tariff of Rs 4.79/kWh (US¢7.2/kWh). NVVN shall then bundle this power with that generated from thermal power plants of NTPC Limited before selling it to interested utilities across the country.

The projects have been allocated to Tata Power Renewable Energy under phase II, batch II of the National Solar Mission. Under the first tranche of this scheme the government aims to set up 3 GW capacity.

Last month, Tata Power had announced plans to increase its share of renewable energy output from 20% to 35-40% by 2025. The company currently has an installed capacity of 9,156 MW, including 593 MW from wind energy and 60 MW from solar power projects. Tata Power hopes to increase its installed capacity to 20 GW by 2025. A 40% renewable energy share would mean 8 GW capacity.

May 27, 2016 0 comment

Competitive Solar Auction In India Keeps Tariffs Under US¢7.2/kWh

written by saurabh

Indian and international project developers continue to fight it out in one of the fastest growing solar power markets in the world.

The recent solar power auction in the Indian state of Karnataka saw one of the most competitive bidding in recent times. The auction allocated 500 MW capacity of the planned 2 GW solar power park part of the ambitious ultra mega solar power project scheme announced by the Indian government.

A total of 6 developers managed to win rights to develop the first phase of the solar power park. The winning bids were all within a range less than one US cent. The winning bids were between Rs 4.78/kWh to Rs 4.80/kWh (US¢7.2/kWh).

Interestingly, 5 of the 6 project developers were Indian companies while many major foreign developers, including SunEdison and Canadian Solar, failed to the cut.

Among the successful bidders, Adani Enterprises, Fortum Group (from Finland), ACME Solar, and Tata Power secured 100 MW project each while RattanIndia Power and ReNew Power Ventures won 50 MW project each.

Such a positive response to one of the first auctions under the ultra mega solar power scheme is very encouraging for the Indian government. The scheme is one of the mainstays of the Indian National Solar Mission which aims for 100 GW operational solar power capacity by March 2022.

Continued and active participation by the Indian developers is also a testament to the fact that it is not just the foreign developers that are propelling the low-cost solar power revolution in India.

April 26, 2016 0 comment

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.

April 20, 2016 0 comment

SunEdison Reportedly Planning To Sell 1.5 GW Of Indian Renewable Energy Assets

written by saurabh

SunEdison may be planning to a larger portion of India renewable energy projects pipeline in order to fight the huge debt on its balance sheet.

According to Indian media reports, SunEdison may be planning to offload its 1,490 MW assets in India. Initial discussions with Macquaire Capital have fallen through and now two Indian companies have entered negotiations with the US-based project developer.

SunEdison reportedly has 410 MW of operational solar power capacity India while an additional 1,000 MW capacity is at various stages of development. The company also owns 80 MW of wind energy capacity, acquired from another foreign developer.

The 1,000 MW under-development capacity also includes the 500 MW project SunEdison had won in Andhra Pradesh auction. The project is among the cheapest projects in India, in terms of tariff. Media outlets had earlier reported that the company is looking to sell up to 49% equity stake in the project.

The latest plans to offload Indian assets come just months after the company sold 425 MW capacity to its yieldco TerraForm Global for $231 million to retire some debt from the balance sheet.

SunEdison has had dealings with both the Indian companies said to be in negotiations to acquire the renewable energy assets. A subsidiary of Tata Power had last year signed a 180 MW power purchase agreement with a SunEdison project in Madhya Pradesh.

SunEdison and Adani Power had once announced plans to jointly develop India’s largest solar modules manufacturing facility at a cost of $4 billion. The current status and future of the facility remains unknown.

SunEdison’s financial condition seems grim to say the least. The company is looking to sell assets as fast as it once acquired several others few years back, which, perhaps, is the root cause of all the trouble.

March 28, 2016 0 comment

India’s Ambitious Solar Energy Plans Underway

written by Siddharth Kalla

India announced last year that it would take its installed solar energy capacity from near zero to 20,000 MW in a matter of just over a decade, by 2022. This is quite an ambitious agenda and several people had doubts regarding the feasibility of such a plan, especially during these tough economic times.

January 12, 2011 1 comment