EQ Magazine April 2019 Edition by EQ Int'l Solar Media Group

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CONT EN T

VOLUME 11 Issue # 04

Disclaimer,Limitations of Liability While every efforts has been made to ensure the high quality and accuracy of EQ international and all our authors research articles with the greatest of care and attention ,we make no warranty concerning its content,and the magazine is provided on an>> as is <<basis.EQ international contains advertising and third –party contents.EQ International is not liable for any third- party content or error,omission or inaccuracy in any advertising material ,nor is it responsible for the availability of external web sites or their contents

india Cabinet approves Scheme for FAME India Phase II

31 energy storage India likely to invest in Bolivia lithium industry

35 technology Google uses AI to predict wind energy output

46 international ADB, GCF, and Australia Partner to Improve Renewable Energy in Tonga

The data and information presented in this magazine is provided for informational purpose only.neither EQ INTERNATINAL ,Its affiliates,Information providers nor content providers shall have any liability for investment decisions based up on or the results obtained from the information provided. Nothing contained in this magazine should be construed as a recommendation to buy or sale any securities. The facts and opinions stated in this magazine do not constitute an offer on the part of EQ International for the sale or purchase of any securities, nor any such offer intended or implied Restriction on use The material in this magazine is protected by international copyright and trademark laws. You may not modify,copy,reproduce,republish,post,transmit,or distribute any part of the magazine in any way.you may only use material for your personall,NonCommercial use, provided you keep intact all copyright and other proprietary notices. want to use material for any non-personel,non commercial purpose,you need written permission from EQ International.

APRIL 2019

international Risen Energy Wins the National Enterprise Technology Center

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17 29 pv manufacturing

Business & finance Adani Solar ties up with Chemi Tech Group for Delhi and Uttar Pradesh

Seraphim Builds Leading-Edge Half-Cell Solar Module Factory in N. China’s Shanxi

66 interview MR. RAVI KAILAS

68 70

solar projects Azure Power Puts Over 500 MWs of Solar Power Projects Into Operations in FY19

Mr. ANIMESH DAMANI

trade wars Hanwha Q CELLS files patent infringement complaints with the Federal Court of Australia against JinkoSolar and LONGi Solar, following legal action in the U.S. and Germany

INTERVIEW

electric vehicle Fortum to power India’s electric vehicles, plans 700 charging points

technology

Waaree Energies launches customised solar modules for EVs

EQ NEWS Pg. 08-27 PRODUCTS Pg. 77 business & finance Selloff by Norwegian fund not to impact India energy sector soon

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APRIL 2019

LONGi Solar is a world leading manufacturer of highefficiency mono-crystalline solar cells and modules. The Company is wholly owned by LONGi Group. LONGi Group (SH601012 )is the largest supplier of mono-crystalline silicon wafers in the world. Armedand powered by the advanced technology and long standing experience of LONGi Group in the field of mono-crystalline silicon, LONGi Solar has shipped approximately 4.6GW products in 2017. The Company has its headquarters in Xiâ&#x20AC;&#x2122;anandbranches in Japan, Europe, NorthAmerican, India and Malaysia. With strong focus on R&D, production and sales & marketing of mono-crystalline silicon

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APRIL 2019

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INDIA

Solar power generation 5.8 per cent costlier with GST: Report GST roll out has led to an increase in the cost of solar PV power generation by almost 6 per cent, a study shows.

Power Minister R.K Singh launches energy efficiency label for residential buildings

The introduction of Goods and Services Tax (GST) has led to an increase in the cost of solar photovoltaic (PV) power generation by almost 6 per cent, an independent study by the Council on Energy, Environment and Water (CEEW) and the International Institute for Sustainable Development (IISD) said. At the same time, the GST has resulted in a decline in the cost of thermal power generation by 1.6 per cent.

The uncertainty surrounding the GST rates for various solar PV contracting structures and the imposition of safeguard duty may constrain India’s progress toward its ambitious target of 100 GW (gigawatt) of installed solar capacity through delayed investments, Abhinav Soman, CEEW Programme Associate and study lead author, said. It is important for policymakers to evaluate such impacts and their influence on our choices of energy sources, he added.

Neil McCulloch, IISD Associate and co-author of the study, said: “The GST Council recently clarified that 70 per cent of the solar PV contract value will attract 5 per cent GST while the remaining 30 per cent will be treated as ‘supply of services’ and attract 18 per cent GST.But services constitute a much smaller share of the contract value than 30 per cent for most of India’s recent projects. A higher tax burden is unfairly imposed on such projects.”

he study follows an assessment of India’s energy subsidies by IISD and CEEW in late 2018. This found that the GST has overhauled a large share of India’s taxes and the tax-related subsidies.The absolute size of the subsidy to coal-based power generation remains Rs 7,685 crore ($1.1 billion), higher than for solar PV in financial year 2018. India has reformed a number of subsidies for petroleum products since 2014. Over the same time period, the government support for renewable energy has increased significantly but the scale of subsidies for coal has remained largely unchanged. Source: IANS

With the implementation of Energy efficiency label for residential buildings it is estimated to achieve an energy saving of up to 40% over the conventional houses with annual savings of 90 BU by the year of 2030.

K Singh, Minister of State (IC) for Power and Renewable Energy launched the Energy efficiency label for residential buildings.He was speaking at a two-day conference of Ministers for Power, New & Renewable Energy of States & Union Territories held at Gurugram. Developed by Bureau of Energy Efficiency (BEE), the programme will provide the information to consumers on the energy efficiency programme standard of the homes to be constructed across India. The objective of the labelling programme is to make an instrument over the energy performance of a home which will gradually lead to an effective tool while deciding over the home prices in future.It also aims to provide a benchmark to compare one home over the other on the energy efficiency standards so as to create a consumer driven market transformation solution for Energy Efficiency in housing sector.The proposed labelling program is expected to save substantial amount of electric energy through various energy efficiency efforts in houses nationwide.With the implementation of Energy efficiency label for residential buildings it is estimated to achieve an energy saving of up to 40% over the conventional houses with annual savings of 90 BU by the year of 2030.Further, the labelling mechanism will reduce in energy bills for home buyers. The likely CO2 emission deduction by 2030 will be 320 MT CO2 annually. Source: realty.economictimes.indiatimes

APRIL 2019

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INDIA

Cabinet approves Scheme for FAME India Phase II The Union cabinet chaired by the Prime Minister Shri Narendra Modi has approved the proposal for implementation of scheme titled 'Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME India Phase II)' for promotion of Electric Mobility in the country.

he scheme with total outlay of Rs 10000 Crores over the period of three years will be implemented with effect from 1st April 2019. This scheme is the expanded version of the present scheme titled 'FAME India1 which was launched on 1st April 2015, with total outlay of Rs. 895 crores.

Financial Implications: Total fund requirement for this scheme is Rs. 10,000 crores over three years from 2019-20 to 2021-22.

Impact: The main objective of the scheme is to encourage Faster adoption of Electric and hybrid vehicle by way of offering upfront Incentive on purchase of Electric vehicles and also by way of establishing a necessary charging Infrastructure for electric vehicles. The scheme will help in addressing the issue of environmental pollution and fuel security.

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Details: Emphasis is on electrification of the public transportation that includes shared transport. Demand Incentives on operational expenditure mode! for electric buses will be delivered through State/city transport corporation (STUs). In 3W and 4W segment incentives will be applicable mainly to vehicles used for public transport or registered for commercial purposes. In the e-2Ws segment, the focus will be on the private vehicles. Through the scheme, it is planned to support 10 Lakhs e-2W, 5 Lakhs e-3W, 55000 4Ws and 7000 Buses. To encourage advance technologies, the benefits of incentives, will be extended to only those vehicles which are fitted with advance battery like a Lithium Ion battery and other new technology batteries. The scheme proposes for establishment of charging infrastructure, whereby about 2700 charging stations will be established in metros, other million plus cities, smart cities and cities of Hilly states across the country so that there will be availability of at least one charging station in a grid of 3 km x 3 km. Establishment of Charging stations are also proposed on major highways connecting major city clusters. On such highways, charging stations will be established on both sides of the road at an interval of about 25 km each.

APRIL 2019

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INDIA

Average spot power price dips 4 pc to Rs 3.08/unit in Feb Average spot power price slipped 4 per cent to Rs 3.08 per unit at Indian Energy Exchange (IEX), compared to Rs 3.23 a year ago, mainly on subdued demand following extended winters. The Term-Ahead Market (TAM) traded 84 MU in February 2019, registering an increase of 67 MU over same month last year.

The average Market Clearing Price (MCP) at Rs 3.08 per unit registered 4 per cent decline over Rs 3.23 per unit in same month last year, an IEX statement said.

The IEX said that all India peak demand touched 162 GW on February 5, 2019, 3 per cent increase over highest peak demand of 157 GW during February 2018 as per NLDC (National Load Dispatch Centre) reports.

ower DAM (day ahead market) volume of 2,794 MU (million units) in February was primarily due to extended winters and thus subdued demand for power from northern and western states, as per the statement.In 2018-19 (April-Feb19), the IEX has traded 46,707 MU over 40,887 traded in the same period last year, registering an increase of 14 per cent. On a daily average basis in February 2019, about 100 MU were traded.The day-ahead market experienced transmission congestion with volume loss of 62 MU, representing 2 per cent of the total traded volume. The congestion was mainly due to shutdown of Talcher Kolar Pole line leading to unavailability of transmission corridor, and thus increase in the market clearing price.

On all India basis, the energy supplied in February, 2019 at 95 BU registered marginal increase of 3 per cent from 92 BU last year.The electricity market at IEX the Day Ahead- Market (DAM) and Term Ahead-Market (TAM) combined traded 2,879 MU in February 2019, a decline of 15 per cent over 3,343 MU traded in February 2018.The Renewable Energy Certificates (REC) trading session held on 27 February, 2019 featured a total trade of 10,59,300 RECs, comprising of 6,75,592 Non-Solar RECs and 3,83,708 Solar RECs.The trade saw an increase of about 172 per cent year on year (y-o-y) basis and 64 per cent M-o-M (month-on-month) basis. The distribution companies were the major buyers in February 2019. The REC trading session followed by captive users and open access consumers. Both non-solar and solar REC continued to see low supply situation with buy bids exceeding the sell bids. The price for both non-solar (issued after April 1, 2017) and solar of Rs 1,395 per REC and Rs 1,500 per REC, saw a decline of 7 per cent and 14 per cent, respectively on m-o-m basis.

One Nation, one price was realised only for 4 days during the month, primarily due to constraints in southern import. On daily average basis, 722 participants traded in the market during the month, the IEX added.

In 2018-19 (year to date), IEX has cumulatively traded 80,21,412 units over 72,49,454 traded in the same period last year, registering an increase of about 11 per cent, the IEX added.

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APRIL 2019

Source: PTI

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INDIA

Haryana cabinet approves amendment in Solar Power Policy

Gujarat announces policy for small-scale solar power generation Aspiring to fulfil Prime Minister Narendra Modi’s ambition for raising the renewable power generation in the country, the Gujarat government announced a ‘small scale distribution solar project’ policy for producers of up to 500 KW to 4 megawatts (MW).

Haryana cabinet, which met under the chairmanship of Chief Minister Manohar Lal Khattar here,approved amendment in the Haryana Solar Power Policy-2016.

nder the Amendment, wheeling and transmission charges will be exempted for ten years from the date of commissioning for all captive solar power projects which have submitted applications to HAREDA for registration of project, purchased land or have taken land on lease for 30 years and have bought equipment and machinery or invested at least Rs one crore per MW for purchase of equipments and machinery for setting up of such captive solar power projects till February 13,2019, while cross subsidy surcharges and additional surcharges are not applicable for captive solar power projects.No waiver of wheeling and transmission charges, cross subsidy surcharges and additional surcharges will be given to solar power project set up for third party sale. Source: UNI

Energy and Petrochemical Minister Saurabh Patel said, “Gujarat’s geographical situation has vast and immense potential for renewable power generation such as solar and wind energy. We have framed a policy for small power producers of solar projects wherein even owner of a small waste land will be able to generate power and sell it in the state.”

ccording to the policy, private landowners who have waste and non-productive land will be able to set up solar power projects with a capacity between 500 kilo watts to 4 MW.This generated power will be purchased by power companies such as state-owned Gujarat Urja Vikas Nigam Limited (GUVNL). The power produced will be directly fed into the 11 KW line of Gujarat Energy Transmission Company Limited (GETCO).The government owned power companies will carry out Power Purchase Agreement (PPA) of 25 years with the small-scale producers. The GUVNL will purchase from small producers, paying 20 paise more than the price raised in bidding process in other PPAs, except that of solar parks.

The Minister said for this policy, no government land will be utilised. “The policy will also boost in generating more employment in the state,” said Pradeepsinh Jadeja, Minister of State (MoS) for Energy. Source: IANS

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APRIL 2019

BUSINESS & FINANCE

ReNew Power raises $375 million via green bonds The five-year non-call two notes were offered at a yield of 6.67 per cent per annum, a company statement said.

Clean energy firm ReNew Power said it has concluded a green bond issue of $375 million, which would be used for capital expenditure on green projects and refinancing external commercial borrowings. The five-year non-call two notes were offered at a yield of 6.67 per cent per annum, a company statement said. The bond offer has been rated as BB by Fitch Ratings, the statement said.

he capital raised through the green bond issue will be utilised for refinancing outstanding external commercial borrowings and as capex in eligible green projects. Barclays (B&D), Goldman Sachs, HSBC, JPMorgan and YES Bank were the book runners for the green bond issue. The dollar-denominated bonds received excellent response and were fully subscribed by leading fund managers, asset managers, banks and pension and life funds from across the US, Europe and Asia, the company said. The issue was opened for subscription on March 5 and closed on the same day.

Our history of financial prudence, investing in high-quality assets and creating value for all our stakeholders has enabled us to regularly raise funds to fuel our rapid growth. We are happy that our bond offering received such an enthusiastic response, especially when the renewables sector is facing challenges in raising capital, ReNew Power Chairman and Managing Director Sumant Sinha said in the statement. The renewables market in India is firmly established and is growing rapidly. ReNew Power is India’s largest IPP with more than 7,000 MW of commissioned and under-construction wind and solar projects,”he said.

ReNew Power Deputy Chief Financial Officer Kailash Vaswani said: “The bond issue was in line with our strategy of diversifying debt sources. The issuance enabled us to fix our interest rate risk and achieve a lower pricing than existing borrowing costs. The international bond investors have seen us deliver on committed performance and, hence, have come forward to invest in our new issuance.” Source: PTI

APRIL 2019

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BUSINESS & FINANCE

UK commits over £150 million to power India’s energy ambitions Ayana is well poised to play an important role in India’s ambition to build 175 GW of renewable energy capacity.

he joint UK-India Green Growth Equity Fund announced its first investment into Ayana Renewable Power as part of a new partnership with CDC Group (the UK government’s development finance institution), EverSource Capital and the National Investment and Infrastructure Fund of India (NIIF). The investment is collectively worth £250 million. According to a statement Renewable energy platform Ayana was launched by CDC in January, 2018 to develop utility scale solar and wind generation projects across growth states in India. With a current capacity of 500MW of solar generation and a strong future pipeline of renewable energy opportunities, Ayana is well poised to play an important role in India’s ambition to build 175 GW of renewable energy capacity. The Green Growth Equity Fund (GGEF) is a joint UK-India fund, managed by EverSource Capital, specifically designed to promote sustainable energy projects. The two countries have invested over £240 million of anchor capital into the fund, which is expected to raise up to £500 million from institutional investors. This will provide a highquality conduit for international institutional investment, including from the City of London, into green and renewable infrastructure projects in India.

I am delighted that the GGEF is making its first investment. GGEF is an India-UK fund anchored by our two governments under India’s flagship NIIF umbrella. It was announced by our two Prime Ministers at the Commonwealth Summit last year. GGEF’s investment in the renewable energy sector promotes the shared prosperity of both governments through climate finance, attracts more private sector investments to create jobs to catalyse India’s green growth, said Dominic Asquith, UK High Commissioner to India in a statement. The UK has long been regarded as a leading global financial centre, with a world leading stock market featuring nearly 80 green bonds listed on the London Stock Exchange. Green finance is one of the areas where India and the UK are moving into a new and mutually beneficial collaboration.Over the past two years, Indian issuers have raised over £5.6 billion on the LSE through masala, dollardenominated and green bonds. These issuances have generated finance for Indian infrastructure projects including in railways, roads and renewable energy.

Utility Engie to exit from 20 countries in new three-year strategy The group also will invest 11 to 12 billion euros over the 2019-2021 period, of which about 4 billion per year will be on general capital expenditure and smaller bolt-on acquisitions

rench gas and power utility Engie will exit from about 20 countries in the next three years and will target new markets in Southeast Asia and Africa as it focuses investments on renewable energy, energy services and infrastructure.

Chief executive Isabelle Kocher said on a call with reporters that in the next three years, Engie will sell another 6 billion euros ($6.8 billion) worth of assets, after selling some 14 billion worth of mainly coal-related assets in the past three years. The group also will invest 11 to 12 billion euros over the 2019-2021 period, of which about 4 billion per year will be on general capital expenditure and smaller bolt-on acquisitions.The investment programme will allocate 4-5 billion to client solutions businesses and 2.3-2.8 billion euros to renewables, in order to finance about 9 gigawatt of new capacity. Another 3-3.3 billion will be allocated to grids.In 2018, Engie revenue rose 1.7 percent to 60.6 billion euros and core earnings edged up 0.4 percent to 9.2 billion, but net profit fell to 1.0 billion from 1.3 billion in 2017. Source: reuters

Source: economictimes.indiatimes

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APRIL 2019

BUSINESS & FINANCE

NTPC Raised US$ 450 million from International Markets NTPC Limited (NTPC), the largest power generating company in India, priced US$ 450 million 5 Year bond offering in the international markets under its USD 6 billion Medium Term Note (MTN) Programme on 26th March 2019.

TPC’s US$ 6 billion MTN Programme was set up in 2006 and this issuance was the tenth offering under the Programme taking the cumulative amount raised under the MTN Programme to US $ 4.30 billion.Having updated the MTN Programme in December 2018, NTPC was well positioned to take advantage of a supportive primary credit market and conducted comprehensive deal roadshow covering in Singapore, HongKong and London from 21st – 25th March 2019 to reach out to a vide range of fixed income global investors and to appraise them about companies’ financials and its future plans. Based on the investors feedback, NTPC launched a USD 450 million senior, unsecured, fixed rate Reg-S 5 year bond transaction with an initial price guidance of Current 5Y US Treasuries yields (CT5) plus 185 bps area on 26th March 2019 (Asia open). The offering was met with strong demand from the investors and the order book reached USD 1 billion within the first hour of deal announcement which further increased to USD 2 billion by noon. The order book attained a peak of USD 3 billion and thereafter the price guidance was revised to CT5+155 bps to CT5+160 bps. The final order book was over US$ 1.80 billion, an oversubscription of nearly 4 times, with orders from more than 100 accounts. The bonds were finally priced at CT5+155 bps with a yield of 3.773% and the coupon was fixed at 3.75% p.a.In terms of geographical distribution, Asia took the bulk of the subscription at 90%, with supplemental demand of 10% from Europe, Middle East & Africa (EMEA) and offshore US accounts. Distribution by investor type was well diversified as Funds Managers took 69% of the subscription, followed by Banks 22%, Insurance/Pension 8% and PB/ Others 1%.With a robust portfolio of projects under execution, the Company intends to use the proceeds of the issue to finance its ongoing and new power projects, coal mining projects, acquisition of power plants & renovation and modernization of power stations.Axis Bank, Mizuho, MUFG, SMBC Nikko and Standard Chartered Bank were the joint lead managers & bookrunners for the offering.

APRIL 2019

Brief about USD 450 million issue under MTN programme DATE OF LAUNCH :26/03/2019 Amount

:USD 450,000,000

Tenure :5 Years Coupon

:3.75% p.a.

Yield :3.773% p.a. (CT5+155 bps) Date of Issue :03/04/2019 Date of Maturity

:03/04/2024

Investor Distribution by Region ASIA 90% Europe, Middle East & Africa (EMEA) / Offshore US Investors 10%

Investor Distribution by Type FUNDS MANAGERS 69% Banks 22% Insurance / Pension 8% PB / Others Source: ntpc.co.in

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BUSINESS & FINANCE

GAIL, BHEL sign pact for development of solar power projects GAIL shall be the project developer and BHEL shall act as an engineering, procurement, construction and project management contractor BHEL shall also provide operation and maintenance services during the initial period upon becoming successful bidder

Green Certificates sales down 22 pc in 2018-19 Sales of renewable energy certificates declined over 22 per cent to 1.25 crore units this fiscal on IEX and PXIL as compered to 1.61 crore in 2017-18, mainly due to lower inventory (supply), according to official data.

State-owned gas utility GAIL India Ltd said it has signed an agreement with Bharat Heavy Electricals Ltd (BHEL) for cooperation in the development of solar power projects. GAIL shall be the project developer and BHEL shall act as an engineering, procurement, construction and project management contractor, the company said in a statement. BHEL shall also provide operation and maintenance services during the initial period upon becoming successful bidder.“This development will help both the companies to leverage their competitive strengths to build a substantial portfolio in solar power projects.“The memorandum of understanding (signed Friday) aims at building a closer strategic partnership between the two Maharatna PSUs for jointly pursuing commercial solar power projects through participation in tariff / Viability Gap Funding (VGF) based competitive bidding process,” it said.

AIL is India’s biggest natural gas company with diversified interests across the value chain of trading, transmission, LPG production and transmission, LNG re-gasification, petrochemicals and city gas.It owns and operates a network of around 11,400 kms of high-pressure trunk pipelines. It is working concurrently on multiple pipeline projects, aggregating over 5400 kms at an investment of about ₹24,000 crore, to operate over 16,000 kms by 2021.GAIL commands 75% market share in gas transmission and has a gas trading share of over 50% in India.

GAIL is also expanding its presence in renewable energy like solar and wind. It has India’s second-largest rooftop solar PV power plant at its petrochemical complex at Pata, Uttar Pradesh, the statement said. BHEL is one of the few companies in the world, and only company in India, having the capability to manufacture the entire range of power plant equipment.It has also been in the field of design, engineering, manufacturing, installation and commissioning of solar power plants over three decades and has a portfolio of more than 700 MW. Source: PTI

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n March, sales of RECs or green certificates declined by over 51 per cent to 11.78 lakh from 24.26 lakh in the same month last year.Indian Energy Exchange (IEX) and Power Exchange of India (PXIL) are the two power bourses in the country, which are engaged in trading of RECs and electricity.The trading of renewable energy certificates (RECs) is conducted every month. Under the renewable purchase obligation (RPO), bulk purchasers like discoms, open access consumers and capacitive users are required to buy certain proportion of renewable energy or RECs. They can buy RECs from renewable energy producers to meet the RPO norms.The proportion of renewable energy for utilities are fixed by the central and state electricity regulatory commissions. An official said that the IEX saw a total trade of 9.34 lakh in March compared to 20.79 lakh in the same month last year. The data shows that in 2018-19, the RECs sales dropped 4 per cent to 89.55 lakh as against 93.29 lakh in the previous fiscal, largely due to the lower REC inventory. The official said that both non-solar and solar RECs continued to see low supply situation with buy bids exceeding the sell offer. Similarly on the PXIL, 36.53 lakh RECs were sold this fiscal compared to 68.55 lakh in 2017-18. In March, 2.44 lakh RECs were traded on the exchange as against 3.47 lakh in same month last year.The REC mechanism is a market based instrument to promote renewable sources of energy and development of market in electricity. It provides an alternative voluntary route to a generator to sell his electricity from renewable sources just like conventional electricity and offer the green attribute (RECs) separately to obligated entities to fulfill their RPO. Source: PTI

APRIL 2019

BUSINESS & FINANCE

Actis buys 194 Mw operational solar power assets from Shapoorji Pallonji

S P Infra had last year decided to divest a part of its operating portfolio in order to redeploy capital for the development of new solar projects. Shapoorji Pallonji Infrastructure Capital (SP Infra) announced it has sold 194 Megawatt of operating solar power portfolio to Sprng Energy, a renewable energy platform by private equity firm Actis.

The transaction closed last week with all customary approvals in place, the company said in a statement without sharing the size of the deal value. S P Infra had last year decided to divest a part of its operating portfolio in order to redeploy capital for the development of new solar projects.

We continue to see large opportunities for the growth of renewable sector and the sale to a discerning infrastructure investor highlights our commitment towards development and operation of high quality renewable energy projects in India, said Mukundan Srinivasan, MD and CEO of SP Infra. He added that Actis has a strong track record of managing and growing utility-scale infrastructure businesses globally.

Commenting on the acquisition, Sanjiv Aggarwal, Partner-Energy Asia at Actis, said the acquisition of the portfolio is in line with the company’s commitment of building over 2 Gigawatt of renewable power projects in India.

With this acquisition, the total operating and under construction capacity of Sprng Energy, our 100 per cent-owned renewable platform, will increase to 1,650 Mw and we continue to look for opportunities to grow this portfolio further through both M&A and new bids,” he said.

The addition of S P Infra’s assets has increased Actis’ operating capacity to 450 Mw. The strategic acquisition by Actis to develop and grow its Indian renewable energy portfolio represents a major transaction in the Indian renewable energy sector, the company said.

redit Suisse acted as financial advisor and Khaitan & Co were the legal advisors to SP Infra for this transaction. Standard Chartered Bank acted as exclusive financial advisors and Trilegal acted as legal advisors to Actis.Mumbai-based S P Infra is part of Shapoorji Pallonji and Company. It is present in the power, roads and ports sectors. Actis is an investor in markets across Africa, Asia and Latin America in private equity, energy, infrastructure and real estate space. Founded in 2004 and headquartered in London, it has raised $15 billion since inception and employs over 200 people.Sprng Energy is Actis’ investment from its Actis Energy 4 fund which has a total AUM of $2.75 billion with a focus to invest in Latin American, African and Asian countries in electricity generation and distribution businesses. Source: energy.economictimes.indiatimes

APRIL 2019

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BUSINESS & FINANCE

Gravitas helps PTC lend $22m to KKRCleanmax solar project

PTC India Financial Services extended Rs 158 crore rupee facilities toward KKR India Financial Services’ outstanding debt at the request of energy company Cleanmax IPP 2 (CMIP2).

MIP2 had borrowed Rs 150 crore from KKR India by an agreement. The loan was for its 32MW AC (46.4 MW DC) photovoltaic solar power project at District Bellary, Karnataka.Gravitas Legal advised PTC India Financial Services Limited led by a team of partner Tanuj Sud, principal associate Henna Vadhera, associate Aditya Pandey and associate Aditya Prakash.

Deal value: Rupees 158 crores This deal has not been reported by any mainstream media outlets at the time of going to press and is based on the information supplied in a law firm’s press release. Source: legallyindia

Adani Solar ties up with Chemi Tech Group for Delhi and Uttar Pradesh Mundra Solar PV Limited, part of Adani Group, manufacturer of Adani Solar modules, have signed up a Channel Partnership agreement with Chemi Tech Group.

hemi Tech will be Adani’s sole channel partner for states of Delhi and Uttar Pradesh. Chemi Tech will be responsible for stocking, trading and distribution of Adani Solar modules in these areas.Chemi Tech will also handle all the service issues related to modules for these regions.Channel Partnership model will ensure that no spurious or fake modules are sold in the market.

Speaking on the launch of the Channel Partnership, Sh. Ramesh Nair, CEO, Adani Solar commented that this agreement is a step towards Adani Solar’s vision of maximizing renewable energy generation in India.

Channel Partner model will encourage SME’s, MSME’s to adopt solar on a larger scale as they will be able to order small quantities directly from the Channel Partner. Chemi Tech has been associated with the Adani Group since a couple of years now and is a major distributor of Solar equipment in the country. With presence in more than 11 states of India, Chemi Tech provides fast deliveries and serviceability. Chemi Tech at the same time is also looking for dealers across UP and Delhi to carry forward this partnership. Announcements were also made by Chemi Tech Group director Mr. Akarsh Gupta, wherein it was announced that top buyers of modules from Chemi Tech in this financial year will win trips to Inter Solar Munich or SNEC China in 2020. Source: chemitechgroup

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APRIL 2019

BUSINESS & FINANCE

EverSource Capital, NIIF partner with CDC to invest in its renewable energy platform Ayana EverSource Capital manages Green Growth Equity Fund (GGEF), which has NIIF and the UK government as anchor LPs. Completion is subject to regulatory and transaction condition approvals.

verSource Capital (a joint venture between Everstone Capital and Lightsource BP) and the National Investment and Infrastructure Fund of India (NIIF) have announced a partnership with CDC Group in Ayana Renewable Power (Ayana), the renewable energy platform founded by CDC. EverSource Capital manages Green Growth Equity Fund (GGEF), which has NIIF and the UK government as anchor LPs. Completion is subject to regulatory and transaction condition approvals.Ayana was launched to develop utility scale solar and wind generation projects across growth states in India. It is currently constructing 500MW of solar generation capacity with a strong future pipeline of renewable energy opportunities. With a management team that has a track record of successful execution of renewable energy projects, Ayana is well placed to play an important role in India’s ambition to build 175 GW of renewable energy capacity.

CDC’s Head of Asia, Srini Nagarajan said “CDC’s commitment to climate change was key in the innovation of Ayana last year and its alignment with the global goals. We are delighted we achieved our early objective to attract fresh capital and we are proud to partner with NIIF and EverSource Capital. Their domestic expertise will further strengthen Ayana and support its mission in developing affordable and accessible renewable energy across India. This investment demonstrates our commitment to invest a further $1.7 billion in India and neighboring countries over the next three years. Within infrastructure, we see further opportunities to provide investment to businesses operating within power generation, power transmission and distribution, transport, the gas midstream and the water sector.”

APRIL 2019

Sujoy Bose, MD & CEO, NIIF, said “The Indian renewable energy sector has seen strong traction underpinned by healthy capacity additions with globally competitive tariffs. We are pleased to be partnering with CDC and EverSource Capital and backing a strong management team with a successful track record of developing renewable energy in India. We look forward to working with our partners who bring complementary strengths and substantial capital to the platform.”

Dhanpal Jhaveri, CEO, EverSource Capital commented “This partnership brings together likeminded institutional, climate focussed and experienced partners. EverSource has a deep understanding of renewables business with an extensive track record of scaling up world class businesses in India and will provide strategic and operational value add to Ayana in building a high quality rapidly scalable utility grade renewable energy business.” Standard Chartered Bank acted as the exclusive financial advisor to Ayana Renewable Power Private Limited. Source: indiainfoline

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BUSINESS & FINANCE

Siemens to acquire KACO new energy GmbH KACO new energy is one of the leading manufacturers of energy-related power electronics; Siemens further strengthens its competence in decentralized energy; KACO new energy will be integrated in the new Smart Infrastructure Operating Company

iemens has announced plans to acquire the string inverter business of the KACO new energy GmbH, one of the leading manufacturers of energy-related power electronics, for an undisclosed sum. The project development and EPC activities are not part of the acquisition. The closing of the transaction is subject to regulatory approval and expected in the first half of 2019.KACO new energy, headquartered in Neckarsulm, Germany, is active in more than nine countries with local sales and service companies and has more than 350 employees. KACO new energy’s product line covers the full power range, from inverter units designed for a family home, commercial buildings and infrastructures to complete systems for solar parks producing megawatts of electricity. The company puts special emphasis on the fastest growing segments of string inverters for solar and storage applications, up to 1500V and using the latest semi-conductors. KACO new energy has developed the next generation inverter technology based on silicon carbide (SiC), which leads to best-in-class power density and superior thermal behavior for installation in demanding environments.KACO new energy has been managed since 1999 by Ralf Hofmann as executive manager. Since the end of 2016, the Mulfingen-based entrepreneur Gerhard Sturm joined as another associate.

With Siemens we are happy to have found a buyer where we see our technological know-how in good hands. Embedded in a strong corporate group, KACO new energy is well prepared for the challenges of the coming years, say Ralf Hofmann, executive manager of KACO new energy, as well as Ralf Sturm and Dr. Marc-Olaf Grumann, executive managers of the Sturm Family Office.

With this acquisition, Siemens gains access to the latest technology, while KACO new energy will benefit from the resources required to scale up. Together, we will be able to apply the technology in exciting growth segments, explains, Cedrik Neike, Managing Board Member of Siemens AG.

Distributed energy, renewable energy sources and eMobility are playing an increasingly important role in the energy value chain, requiring increasing intelligence via an open and flexible ecosystem of technology, solutions and services. Siemens is supporting its customers and the society in reaching their ambitious goals for climate protection. With the complementary power electronics portfolio of KACO new energy, Siemens is strengthening its technological leadership in the high-growth fields of decentralized energy systems and is providing corresponding benefits to customers.

Jean-Christoph Heyne, Head of Siemens’ new Future Grids business,adds: “Siemens is in a strong position to succeed in technology that supports the energy and mobility transition. The acquisition of KACO new energy enhances our portfolio in attractive growth segments at the grid edge. Our new Smart Infrastructure Operating Company comes into operation on April 1, 2019 where our strengths in electrification and buildings will enable us to thrive in the market and continue to expand in the areas of decentral energy, renewables, storage and electric vehicle charging infrastructure.” This document contains statements related to our future business and financial performance and future events or developments involving Siemens that may constitute forward-looking statements. These statements may be identified by words such as “expect,” “look forward to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of Siemens’ management, of which many are beyond Siemens’ control. These are subject to a number of risks, uncertainties and factors, including, but not limited to those described in disclosures, in particular in the chapter Risks in the Annual Report. Should one or more of these risks or uncertainties materialize or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Siemens may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forwardlooking statement. Siemens neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. Source: kaco-newenergy.com

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APRIL 2019

BUSINESS & FINANCE The company aggregates, processes, stores and supplies biomass (agri-residues) such as paddy straw, cotton stalk, soya husk, maize cob, mustard stalk, etc, to biomassbased power plants and process industries. It also processes agri-residues into biomass briquettes — compressed blocks of biomass which is compatible with transportation over long distances — and supplies to process industries such as breweries and beverage plants.

Monish Ahuja, managing director and chief executive at Prespl, said the company was expecting a significant boost in its revenues in coming times as it expected signing a number of contracts with many oil marketing companies.

SBICap Ventures’ Neev Fund to invest $5 million in renewable energy firm Prespl The company aggregates, processes, stores and supplies biomass (agriresidues) such as paddy straw, cotton stalk, soya husk, maize cob, mustard stalk, etc, to biomass-based power plants and process industries.

BICap Ventures’ Neev Fund is set to infuse about $5 million in renewable energy firm Punjab Renewable Energy Systems (Prespl) to acquire a significant minority stake in what would be the Series-B funding round.Prespl has also commitments of an additional $3-5 million funding in the same Series-B round from a different investor.Prespl, which was incorporated in 2011 to exclusively cater to the biomass fuel needs of Punjab Biomass Power, has expanded its operations into different verticals over the past few years.

CONTOURS OF DEAL Prespl has additional commitments worth $3-5 million from another investor. It supplies biomass to power plants,process industries. Firm has bulk of operations in Maharashtra, Gujarat, Punjab and Haryana. Pespl expects revenues of Rs 36 crore in FY19.

Hindustan Petroleum Corp Ltd (HPCL) is coming up with a plant in Punjab while Bharat Petroleum Corporation Ltd (BPCL) with a plant in Orissa. We are the company that has qualified in the global tenders for the supply of raw materials and expect the contracts to be signed in March. Besides these, there are many other contracts that we are following and believe ourselves to be the front-runner, Ahuja said. Prespl has also transitioned into a steam energy supply company where it provides uninterrupted steam to process industries at pre-decided rates throughout the year. The firm is also investing in establishing boilers at clients’ side and is currently executing two such projects with two major pharmaceutical companies. For the fiscal year 2019, Prespl is expecting to record revenues of Rs 35-36 crore. In FY18, the company had revenues of Rs 13.5 crore while in FY17 was Rs 6.5 crore. “We have an operating margin of 12%. This year, we have turned PAT (profit after tax)-positive,” said Ahuja. Prespl has bulk of its operations in Maharashtra, Gujarat, Haryana and Punjab. The company claims to cater to clients like Sun Pharma, Cipla and Pepsico, among others. The firm had earlier raised $2 million in September 2013 as part of its Series-A funding from responsAbility, a Zurichbased fund. Currently, Prespl has six board seats of which two are occupied by the promoter side, two are independent directors, one belongs to the Neev fund and one is occupied by responsAbility.

Gagandeep Bakshi, head of Intellecap investment banking that was involved in the deal, said the biomass space holds a large potential. “If you simply looking at the biomass demand that is going to be created over the next five years, it is definitely possible that many large corporates will come into the picture and you are likely to see consolidation in the space.” Source: financial express

APRIL 2019

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BUSINESS & FINANCE

NABARD signs MoU with Tata Cleantech Capital Limited

World Bank approves $185m for Bangladesh renewable energy project The World Bank has approved $185 million credit to add 310 Megawatt (MW) renewable energy generation capacity in Bangladesh and mobilise private sector participation to meet the growing demand for electricity in the country.

NABARD and Tata Cleantech Capital Limited (TCCL) have signed a Subsidiary Agreement (SA) in New Delhi to support development of Solar Rooftop Units for commercial, industrial and residential housing sector clients of the country.

he signing of agreement will contribute in achieving the national targets under solar energy as also improve the solar energy reach across India through rooftop projects. NABARD, being a Direct Access Accredited Entity of Green Climate Fund (GCF), has supported the proposal of TCCL to unlock more than 250 MW solar energy through private sector to expand the use of solar panels across the rooftops of India’s homes, commercial and industrial buildings.The focus of the agreement is to leverage private sector investment in solar energy project with the support of GCF loan of USD 100 million for a period of 20 years.

The Subsidiary Agreement was signed by Mr. K Venkateswara Rao, CGM, NABARD and Mr. Manish Chourasia, Managing Director, Tata Cleantech Capital Limited. Sri H R Dave Deputy Managing Director, NABARD and Senior Officials of TCCL were present on the occasion.

The scaling up of renewable energy project will increase installed capacity of renewables through piloting and expanding investments in key market segments, the Washington-based lender said in a statement,

he credit facility will be used to build the first 50 MW phase of a large scale solar panel energy park in the Feni district. It will be implemented by the Electricity Generation Company of Bangladesh, according to the statement cited by Xinhua news agency.

The project will help in better access to cleaner electricity and air by avoiding burning of fossil fuels. It will help cut emissions by 377,000 tons of carbon dioxide equivalent a year, it added.

Sri Dave said that this GCF line of credit is the first step in the direction of financing private sector needs, which in turn contributes to NDC targets, under Paris Agreement. He mentioned that the loan facility of GCF is expected to develop 250 MW of rooftop solar capacity across India – along with an estimated reduction of emissions by 5.2 million tonnes of CO2 equivalent.

The $185 million credit include $26.38 million loan and $2.87 million grant from the Strategic Climate Fund of the World Bank’s Climate Investment Funds.

Bangladesh is well on its way towards becoming an upper middle-income country with about 80 per cent of the population having access to grid electricity. It also has one of the most successful off-grid renewable energy programmes in the world, providing electricity to another 10 per cent of the population,said Dandan Chen, World Bank’s Acting Country Director for Bangladesh and Bhutan.

Mr Chourasia, MD, TCCL said that the initiative was a blended financing instrument of about 1625 crore (650 crore of GCF loan facility and 650 crore by TCCL funds and the remaining being the equity share by Developers), deployed for development of Solar roof top segment across the country. India, which plans to achieve 40 percent of its installed power from non-fossil fuel sources by 2030, has advocated the global growth of solar energy through its leadership in the International Solar Alliance.

The project will help mobilise around $212 million financing from the private sector, commercial banks and other sources and establish a dedicated renewable energy financing facility to provide credit to developers of rooftop solar photovoltaics (PV) and large-scale renewables.

Source: nabard.org

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Source: IANS

APRIL 2019

BUSINESS & FINANCE

EverSource Capital to invest $1 billion in India’s renewable energy sector EverSource Capital, a JV of Everstone and Lightsource, is looking to make the investment via its Green Growth Equity Fund NIIF and the UK government have invested £120 million each in EverSource Capital’s Green Growth Equity Fund

EverSource Capital, the joint venture between private equity firm Everstone Capital and global solar project developer Lightsource BP, is looking to invest over $1 billion in renewable energy investments through its Green Growth Equity Fund, said a senior company executive.The National Investments and Infrastructure Fund (NIIF) of India and the UK government are anchor investors in Green Growth Equity Fund.

We have done the anchor close. UK’s DFID and NIIF and, we as GP (general partner), have committed significant capital. So, we are at $340-350 million, and close to 50% of our target. We have now started the process to reach out to investors both in India and outside of India. The target is to raise around $700 million, said Dhanpal Jhaveri, managing partner, Everstone Capital and chief executive officer (CEO), EverSource Capital.

This platform will have a minimum commitment of a billion dollars, through the fund and through co-investments, Jhaveri added.

verSource’s mandate is to make green investments largely around decarbonization of energy and its uses, including transportation, which differentiates it from other infra-focused investors operating in India, and are looking only at heavy assets such as wind and solar power firms.

Energy decarbonization is centered around using renewable as a source, whether it be solar, wind, offshore wind or hybrid, and provide it as clean energy to customers. In transportation, there is likely to be a rapid transition to electric mobility as costs of battery decrease. So, we are looking at investing in all those spaces. There is also the added agenda of investing in resource conservation, waste to energy, energy efficiency, water treatment, recycling, etc. Jhaveri said. Last month, EverSource had made its maiden investment, jointly infusing $330 million, along with NIIF and UK’s CDC, into Ayana Renewables. According to Jhaveri, the capital being invested in Ayana will largely go towards funding its growth. “We already have a 500 MW pipeline. We think that with this capital we can go in excess of 4-5 GW.” He added that the combination of EverSource, NIIF and CDC will ensure access to low cost capital for Ayana. If you look at the key elements the renewable industry needs, one is access to low-cost capital. If you look at the quality of sponsors, with CDC, NIIF and Eversource, we have the best institutional sponsors to attract lowest-cost capital. Second is deep operational capability to develop and operate these assets. The EverSource joint venture with Lightsource, which is one of the top renewable energy developers globally, and the team within Ayana itself, which has a successful track record, we think it is a fantastic combination in terms of capability to scale these platforms very rapidly, said Jhaveri. Ayana will look at both greenfield development and acquisitions to scale up the platform. “Over the next 5-7 years there are a lot of exit strategies that we can pursue—listing, InvITs, bring in a large strategic partner. Over a period of time these will be independently managed utilities like we have seen in other sectors,” he said.

Source: livemint

APRIL 2019

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BUSINESS & FINANCE

SMA Solar Technology AG Records High Loss in 2018 as Expected — Business Performance and Cost Reduction Program Develop as Planned in First Quarter of 2019 Overview of fiscal year 2018: Inverter output sold at same level as previous year with around 8.5 GW (2017: 8.5 GW) Sales of €760.9 million influenced by increased price pressure due to slump on Chinese market (2017: €891.0 million) Earnings before interest, taxes, depreciation and amortization (EBITDA) of €–69.1 million significantly impacted by one-time items (2017: €97.3 million) Equity ratio still high at 42.9% (December 31, 2017: 50.3%) and high net cash of €305.5 million (December 31, 2017: €449.7 million) Managing Board anticipates sales of €160 million to €170 million and EBITDA between €–5 million and €0 million in first quarter of 2019 and confirms sales and earnings guidance for the year as a whole

n fiscal year 2018, SMA Solar Technology AG (SMA/FWB: S92) sold inverters with an accumulated output of around 8.5 GW. Inverter output sold was thus on a par with the previous year (2017: 8.5 GW). The SMA Group’s sales fell to €760.9 million (2017: €891.0 million), primarily due to the abrupt decline in the PV market in China, as a result of which Chinese providers increasingly advanced into international markets and caused enormous price pressure there. EBITDA amounted to €–69.1 million (EBITDA margin: –9.1%; 2017: €97.3 million, 10.9%) and was significantly impacted by one-time items. Net income came to €–175.5 million (2017: €30.1 million). Earnings per share thus amounted to €–5.06 (2017: €0.87). Net cash remained at a high level at €305.5 million (December 31, 2017: €449.7 million). With an equity ratio of 42.9% (December 31, 2017: 50.3%) at the end of 2018, SMA has a solid balance sheet structure. In addition, the company has a credit line of €100 million from domestic banks.

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2018 was a challenging year for SMA, said SMA Chief Executive Officer Jürgen Reinert. “Having started the fiscal year with a high order backlog, the continuing shortage of electronic components meant that in the first half of the year we were only able to supply our customers to a limited extent, particularly in the commercial PV systems segment. At the end of May, the Chinese government drastically reduced its PV expansion targets and solar power subsidies with immediate effect. As a result, Chinese providers increasingly advanced into international markets and caused enormous price pressure in all segments. In the second half of the year, project developers and investors postponed the implementation of photovoltaic projects until the following year in anticipation of a further decline in prices. In addition, the storage technology growth segment was affected by the limited availability of batterystorage systems. We responded early on and introduced measures to reduce costs and increase sales in order to quickly return SMA to profitability. The sale of our Chinese subsidiaries has been completed. Although a staff reduction in Germany unfortunately could not be avoided, we were able to implement it in a socially responsible manner with a voluntary severance program.” For the first quarter of 2019, the SMA Managing Board is anticipating sales of €160 million to €170 million (Q1 2018: €182.5 million) and EBITDA between €–5 million and €0 million (Q1 2018: €17.5 million). The SMA Managing Board is confirming its sales and earnings guidance for the 2019 fiscal year as published on January 24, 2019, which forecasts sales of between €800 million and €880 million and EBITDA of between €20 million and €50 million. The Managing Board estimates that depreciation and amortization will amount to approximately €50 million.

Source: sma.de

APRIL 2019

BUSINESS & FINANCE

Brookfield Asset Management bets big on India A Canadian firm with $ 350 billion of assets under management and a 120 year heritage, seems to be favouring India, and is on a deal making spree in the country with acquisition of hotels, real estate and a massive gas pipeline.

n investment trust led by Brookfield bought Reliance Industries’ East West Pipeline – a 1,400 km pipeline that transports natural gas and connects Kakinada on the eastern Andhra coast to Bharuch in Gujarat on the west coast for an acquisition price of ₹13,000 crore. Previously, Brookfield had invested around $ 7 billion in India, which includes the acquisition of office and retail assets of Hiranandani Developers in Mumbai, purchase of Equinox Business Park from Essar Group, which is a commercial property in Mumbai’s business district of Bandra Kurla Complex and has also invested in roads and renewable energy.However, its latest acquisition of hospitality chain, Hotel Leela Ventures is the one that’s making waves.

At a transaction value of ₹3,950 crore, Brookfield marked its entry into the Indian hospitality sector and the promoters of the Leela brand, led by C.P. Krishnan Nair, who founded the group in 1986, will transfer assets, properties, management and other contracts of Leela Hotels at Delhi, Bengaluru, Chennai and Udaipur; which collectively contributed 88% of the net worth in F.Y. 2018. However, Brookfield is not alone in its bullishness on India; almost all sovereign funds from West Asia, Singapore as well as Canadian Pension Funds are recognising India as a key destination and purchasing assets here.

Source: hwnews.in

France pledges 500 million euros more to ISA France will commit 500 million euros more to the International Solar Alliance (ISA), President Emmanuel Macron said at the third One Planet Summit on reversing climate change, here. Macron also declared creation of a 10 million euros facility to protect the biodiversity in Africa.

The best response to the climate change is not words but actions. The world could no longer be content with words, Macron said at the summit. “We can no longer be content with words. We know, and for a long time,” he said.

he ISA is an initiative by India and France to accelerate the technology-driven renewable energy transformation of the world’s electricity markets.With the backing of nearly 121 member-countries rich in solar energy, 50 have, so far, ratified the ISA Framework Agreement.ISA became a treaty-based inter-governmental international organisation on December 6, 2017, registered under Article 102 of the United Nations Charter. I don’t believe in the desperate camp or the cynical camp. We are part of the determined camp. We need to put biodiversity at the heart of each of our actions, the French President said. This was the first regional edition of One Plant Summit, cochaired by Macron and his Kenyan counterpart Uhuru Kenyatta, and also the World Bank and United Nations Deputy SecretaryGeneral Amina Mohammed.Focusing on Africa’s environmental challenges, the summit was held on the sidelines of the Fourth UN Environment Assembly that saw assembly of over 4,700 delegates, comprising tech experts, academics, scientists and civil society activists from 170 countries here.

APRIL 2019

Our youth says, ‘You are not going fast enough.’ She is right to get impatient, because we were too late. We make new commitments and invent a new model together, said Macron, who reached Kenya in the last leg of his tour of three East African countries. The French President asked, “Is it necessary to replicate the model of 20 years ago to bring energy to all the villages in Africa? The answer is no.”“We must change our model and put the environment at the heart of the market economy. We must put the fight against global warming and biodiversity at the heart of each investment, business choices, the choices of our countries and our cities. I will take all my share,” Macron said.“The One Planet Summit is a way to collectively organise our action and to create a coalition of initiatives, actions, transformations,” he said.

World Bank Group Interim President Kristalina Georgieva said Africa had so much potential for renewable. “It’s also here we see the most dramatic effects of climate change. We must urgently invest in adaptation at the same time we support the shift to low carbon growth.” The World Bank Group is stepping up its climate support for Africa. It will provide $22.5 billion for Africa for climate adaptation and mitigation for 2021-2025.This is more than double the commitment to climate-related projects over the last five years.The funding is part of the World Bank Group’s ‘2025 Targets to Step Up Climate Action’, launched in December 2018 during the UN’s Climate Change Conference in Poland.It will help African countries manage the risks of a changing climate, while unlocking new investment opportunities.

Source: IANS

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BUSINESS & FINANCE

ADB to invest USD 50 mn in solar project developer Avaada Asian Development Bank (ADB) said it has inked an agreement to invest USD 50 million in solar energy project developer Avaada Energy Pvt Ltd to help the company scale up rapidly.

he investment will come equally from ADB’s Ordinary Capital Resources and Leading Asia’s Private Infrastructure Fund (LEAP).LEAP is a funding arrangement provided by Japan International Cooperation Agency (JICA) which is administered by ADB.

The agreement was signed by Chair of AEPL Vineet Mittal and ADB Principal Investment Specialist Mayank Choudhary, ADB said in a release.

Supporting renewable energy capacity enhancement by way of debt and equity is a key focus area of ADB’s private sector strategy, said Mayank Choudhary. He said the investment in Avaada will enable the company to expand its renewable energy capacity and send positive signals to global investors to continue supporting the growth of renewable energy in India.

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The project will contribute to the strategy of the government to increase the share of renewable energy generation capacity from about 20 per cent in 2018 to 40 per cent by 2030.It will also help to reduce India’s emission intensity of its gross domestic product by 33-35 per cent by 2030.

These recent investments by global financial giants reinforce India’s prominence in the global clean energy sector. This investment by ADB validates Avaada’s execution track record and commitment in creating a cleaner and sustainable India, Vineet Mittal said.

The Manila-headquartered multi-lateral funding agency said the investment contributes to ADB’s goal to provide cumulative climate finance of USD 80 billion from 2019 to 2030. Operational since 2017, AEPL is a developer of solar energy projects in India offering clean energy products, including utility scale, rooftop, and off-grid solar projects. The company has secured power purchase agreements of about 1,700 megawatts. With the current equity investment, the company is well funded to exceed capacity of 2 gigawatts, ADB said. Source: PTI

APRIL 2019

BUSINESS & FINANCE

ACME Solar bags 250 MW Solar Power Project at SECI 750 MW ISTS Solar Bid

SunSource Energy to develop 70 MW solar project in Uttar Pradesh

By winning this 250 MW solar project, ACME portfolio will exceed 6.3 + GWp Solar PV across India with an operational capacity of more than 2.5 GWp

he country’s leading independent power producer ACME has bagged 250 MW PV capacity project in the reverse auction held by Solar Energy Corporation of India (SECI) for its 750 MW solar power tender. ACME won the bid in the highly competitive auction at a tariff of INR 2.48/- unit. The second lowest tariff was offered by INR 2.49/- unit for 360 MW.SECI had invited solar tenders for the same to be executed at any location in India. Technical bids totaling 1620 MW were received against the tendered capacity of 750 MW by 13 companies.

With consistently offering most competitive tariff and highest solar power generation; ACME maintains its leadership position in solar IPP space in India. This has entrusted a huge responsibility on us to chart the future ahead in solar power in India. I am confident that with this addition of 250 MW capacity, ACME will strive to achieve highest efficiency in solar power generation and strengthen its partnership with the Government in building a strong nation & economy said Shri Manoj Kumar Upadhyay, Founder and Chairman ACME Group.

APRIL 2019

The project is expected to be launched by Prime Minister Narendra Modi in Kanpur, along with various other development projects in Uttar Pradesh.The project will help industries and commercial establishments reduce their energy bill and meet Renewable Purchase Obligation (RPO) targets, the company said.

SunSource President Kushagra Nandan said: “This win demonstrates our ability to deliver high quality solar energy projects. Since inception, our innovative energy solutions have helped infrastructure, industrial and commercial customers across the globe to reduce their energy bills and limit their greenhouse gas emissions.”

Source: acme.in

The power generated by the project will be sold to commercial and industrial customers through long-term Power Purchase Agreements (PPAs), a company statement said.The project, once commissioned, will be one of the largest open access solar power projects in Uttar Pradesh and will offset over 85,000 tonne of carbon emissions every year, the statement said.

With the launch of our first open access solar power project in the state, we are glad to contribute towards realisation of Prime Minister’s and Uttar Pradesh’s clean energy targets, SunSource co-founder and CEO Adarsh Das said.

ACME Solar is an independent power producer, which build owns operates (BOO) solar power plants in India. With strong in-house execution and design team, ACME plans to execute this project in self-execution mode.

SunSource Energy said it will develop a 70 MW solar power project under the open access scheme in Uttar Pradesh.

The company had earlier signed an MoU with Uttar Pradesh to develop 200 MW solar projects in the state.It recently won one of India’s largest solar with storage projects in Leh that will supply clean and stable power to the Military Engineer Services, a defence infrastructure development agency in India, by largely substituting their diesel genset power, it added. SunSource’s customers include large commercial companies, manufacturing companies, India’s largest oil company, airports, leading education institutes, textile companies and warehouses.

Source: PTI

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BUSINESS & FINANCE

Selloff by Norwegian fund not to impact India energy sector soon The recent decision by Norway’s sovereign wealth fund to divest $7.5 billion stocks across oil companies globally, including Indian firms, is unlikely to have any immediate impact on the country’s energy sector, according to analysts.

Norway’s sovereign wealth fund, the world’s biggest, said “it plans to divest about $7.5 billion worth of stocks from companies involved in oil and gas exploration and production”, adding it is an economic decision based on careful analysis of market situations.

ndian Oil, Maharashtra Natural Gas Ltd (MNGL), Oil and Natural Gas Corporation (ONGC), Oil India and Reliance Industries Ltd (RIL) are among the 134 companies in which the sovereign fund would cut its investment.Although experts don’t see any immediate impact on the energy sector in India, they described it as a reversal in global trends. This has been witnessed in the coalbased projects that are seeing fund squeeze from both wealth funds and private equity players.

The industry will not see an impact immediately. In fact, this is not the first occasion that funding has been curtailed, it is a trend you see. Three years back the World Bank had cut funding for such organisations, said Deepak Mahurkar of the PwC. Another expert said if oil exploration gets negative rating from overseas funds, like the one being witnessed for coal projects, it could in the long-run push explorers towards alternate sources of energy.

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According to Norway’s Finance Minister Siv Jensen, it is anticipated that almost all of the growth in listed renewable energy sector over the next decade will be driven by companies that don’t have renewable energy as their main business.“The fund should be able to participate in this growth,” he said. Despite such curtailment of funds, the quantum of fossil fuel-based energy sources is increasing and the dependence on oil and gas is also growing, experts said. Moreover, for oil guzzling countries like India, oil and gas are also a massive sources of revenue for the government. This is one of the reasons that the government wants the industry to flourish even at the little cost of ecology. Another expert said this was a signal from global funds that energy companies need to change. But the analyst added there would not be any immediate affect on the industry.But if more such development comes up, it will be difficult to maintain oil investment and output at this level. This is especially true for countries, like India that imports 80 per cent of its oil requirements. The oil industry will be an important industry in Norway for many years to come. The country’s revenue from the continental shelf is, as a general rule, a consequence of the profitability of exploration and production activities. Therefore, this measure is about diversification, read a statement by the sovereign wealth fund. Source: IANS

APRIL 2019

PV MANUFACTURING

LONGi Launches New 5GW Mono Module Plant, Increases Supply Capacity

LONGi Solar, a leading global supplier of solar monocrystalline products, announced the commissioning of its 5GW high-efficiency monocrystalline module factory in Chuzhou, Anhui, China.

his is another step forward in the company’s enhancement of its highefficiency monocrystalline module capacity to meet rising global demand for high-efficiency products.LONGi Chuzhou 5GW factory, with a total investment of about USD 328 million, broke ground on May 2018. Contract, construction and commissioning were completed the same year. With cutting-edge equipment, technology and fully automated production lines, the factory manufactures high-efficiency modules, including the innovative Hi-MO3 bifacial mono half-cut PERC module and other next-generation products that meets the demand for high-efficiency, high-reliability and high-yield products.

After equipment commissioning, capacity ramp-up, efficiency stabilization and finalization work, LONGi Chuzhou factory rolled out its first module in January 2019. Today, Phase 1 project with 2.5GW is in full swing, manufacturing modules for global customers. Phase 2 is in the commissioning stage and will start full production soon. In the recent two years, mono PERC has been acclaimed and recognized in the global PV module market. High-efficiency PERC technology further enhances the power output and effectively reduces BOS cost. Add bifacial technology and it extends the advantages of monocrystalline PERC to the rear side of the module to enhance power generation capacity. At present, LONGi’s monocrystalline cell and module capacities are all PERC, producing both monofacial and bifacial products.

Li Wenxue, President of LONGi Solar, said, “In 2019, our company identified a gap between fast-growing global orders and our highefficiency cell and module capacities. LONGi Chuzhou factory will greatly narrow this gap. Besides manufacturing, the factory will also facilitate the transformation of technological and technical achievements to the mass production of new products.” LONGi also announced that it will move ahead its 45GW monocrystalline silicon ingot and wafer capacity expansion plans for 2020, and adapt cell and module capacities to market demand. As a global leader in solar monocrystalline technology, LONGi will continue to invest in R&D and maintain product and technology leadership and accelerate the vision of grid parity worldwide.

APRIL 2019

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PV MANUFACTURING

Seraphim Builds Leading-Edge Half-Cell Solar Module Factory in N. China’s Shanxi Jiangsu Seraphim Solar System Co., Ltd. (Seraphim) announced that it recently set up a new plant in northern China’s Shanxi province to mainly produce high-efficiency half-cell modules.

he new plant, set up jointly with Shanxi Lu’An Photovoltaics Technology Co. Ltd., will use leading-edge factory machinery to manufacture one gigawatt of ultra-efficient modules annually, including standard half-cell, dual-glass half-cell, and bifacial half-cell modules, according to Seraphim, a world-leading solar product manufacturer in China. The plant will commence operations in early May 2019.

Seraphim said that its bifacial products use a double layer of glass combined with advanced two-sided PV cells, generating up to 25 percent more clean electricity than standard modules. The bifacial technology is expected to dominate the solar market because of its lower levelized cost of energy (LCOE) and Seraphim is taking major steps to supply this fast-growing demand.

Seraphim and Lu’An’s highly automated facilities feature the latest internally-developed quality control systems, which can now cut manufacturing costs and management overhead by about 50 percent. Our ultimate goal is to make the Seraphim brand synonymous with cost-effective, reliable products for all of our end users, said Polaris Li, president of Seraphim.

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The partnership with Seraphim marks the cooperation between state-owned and private enterprises to link upstream and downstream supply chains, said Deng Ming, chairman of Lu’An Photovoltaics Technology Co. Ltd., adding that he foresaw how the cooperation would help improve product performance, drive sales, and enhance competitiveness. Since its foundation in 2011, Seraphim has been specializing in research, development, production, innovation and sales of photovoltaic (PV) products. So far, more than 6GW Seraphim’s products have been installed in over 40 countries worldwide Lu’An Photovoltaics Technology Co. Ltd., a subsidiary of the state-owned Lu’an Group, boasts 4.3GW PV integration production capacity. Source: Seraphim

APRIL 2019

PV MANUFACTURING

Imecand Jolywood achieve a record of 23.2 percent with bifacial n-PERT solar cells at SiliconPV 2019, imec, a world-leading research and innovation hub in nanoelectronics and digital technologies and partner in EnergyVille, announces that its n-PERT (Passivated Emitter and Rear Totally diffused) solar cellsdeveloped with Jolywood, a leading Chinese manufacturer of n-type bifacial solar cells and modules, have reached a certified front-side conversion efficiency of 23.2 percent. With cost-efficient processing and a clear path to higher efficiencies, this makes these n-PERT cells a serious contender to p-PERC technology.

Compared to the previous results imec reported, we have further optimized the fully screenprinted bifacial n-PERT cell process and adopted a design with twelve busbars. The current cells also have a screenprinted front grid and rear soldering pads that use less silver,” says Loic Tous, project leader at imec/EnergyVille. “The open circuit voltage (Voc) is now above 690mV with fill factors up to 83%. These remarkable results are obtained using the same industry-compatible equipment to produce bifacial p-PERC cells, with the addition of a boron diffusion.

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APRIL 2019

batch of 12new M2-sized cells(244.3 cm²) measured at ISFH CalTec showed an average conversion efficiency of 23.0 percent, with the best cell topping 23.2 percent, and our own measurements revealed a bifacialityabove 80percent. Moreover, used under standard front illumination conditions in conjunction with an additional 0.15 sun rear illumination, the cells can achieve an effective conversion efficiency of almost 26percent. In addition, ISFH Caltec measured an average reverse current of -0.4A (at -12V) indicating excellent breakdown characteristics. The developed n-PERT technology has a number of inherent advantages over p-type PERC cell technology, which is demonstrated in these newest cells: the potential for higher efficiencies because of a lower sensitivity to metal impurities, and the absence of light induced degradation (LID).

Therefore, n-type PERT technology could become a cost-effective contender to p-type PERC cells. To enable this, the current cells have a screenprinted front grid and rear soldering pads which together amounts toless than 80mg of silver used per cell. Imec and Jolywoodare confident that their bifacial nPERT cells will soon reach efficiencies above 23.5 percent, coupled to a bifaciality above 90 percent.

Jia Chen, R&D director at Jolywood: “Jolywood targets to bring the best solar solution to the market. Devoted to R&D and manufacturing of the world’s best n-type cells and modules, we believe n-type technology can contribute to the industry with high performance, high reliability and low LCOE . We have chosen imec to help us reach that target because of their unique expertise and research infrastructure. We are also developing bifacial n-PERT cells with passivating contact technology, and have already achieved efficiencies above 23%. Combining all the technology know-how, we are confident that our bifacial n-type solar cells will achievean efficiency above 24% very soon.

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Energy storage

India likely to invest in Bolivia lithium industry India has expressed interest in investing in the lithium industry of Bolivia, home to vast untapped mines of the mineral that is used in rechargeable batteries for portable electronics and electric vehicles

ndian President Ram Nath Kovind and his Bolivian counterpart Evo Morales held wide ranging talks on ties in sectors like space, mining, information technology, pharmaceutical and traditional medicines, Indian Foreign Ministry spokesperson Raveesh Kumar tweeted. This is the first high-level visit by an Indian leader to the country since the establishment of diplomatic ties.Kovind, on a three-nation Latin American tour to strengthen India’s ties in trade, investment and renewable energy, told Morales Indian companies with their cutting edge technologies can help Bolivia develop lithium products.

Kovind and Morales also attended the Bolivia-India business forum in the Bolivian city of Santa Cruz, Efe news reported.

Kovind also participated in an India-Bolivia business meet where business representatives of the two countries signed $32 million agreements.olivia, earlier in a report, claimed the country had the largest lithium reserves in the world with at least 21 million tons in Uyuni only.The Morales government chose Chinese company Xinjiang TBEA Group as a strategic partner for several lithium processing projects, for which it is expected to invest $2.3 billion.Moreover, state-run Yacimientos de Litio Bolivianos and Germany’s ACI Systems have a joint venture for extracting lithium in Uyuni with an investment of $900 million.Lithium is mostly used in chargeable batteries whose popularity and usage are also growing in military and aerospace applications. The collaboration in lithium extraction for multiple industrial usages was one of the common interests of Kovind and Morales, the report said.

Morales said Bolivia had nearly $4.5 billion guaranteed investments to industrialise lithium with at least 14 processing plants. He said 20 more plants are in the pipeline that will provide “consumables” to the processing industry and seven others to use the byproducts, including those intended to produce medicines.

The Bolivian President said India ranked third in overall export from Bolivia. Last year, export was worth $723 million, especially in gold and import from India stood at $571 million with a positive balance for the South American nation. Source: IANS

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APRIL 2019

Energy storage

Battery performance now insurable – Innovative Munich Re coverage paves the way for renewable energy Peter Röder, Member of the Board of Management at Munich Re: “The ability to insure battery performance is a key piece of the puzzle in decarbonising our energy sector. For the first time, battery manufacturers can insure against the risk of their products not delivering as promised. With this new coverage, Munich Re has again demonstrated its pioneering role in the insurance of climatefriendly technology.” World’s first long-term insurance for battery performance Munich Re covers manufacturer performance warranties for 10 years US battery manufacturer ESS Inc. is first customer

unich Re is the world’s first insurer to offer a product that covers battery performance. The product allows manufacturers in the booming battery market to offer long-term performance guarantees – whose value is backed by the insurance coverage.The new coverage allows battery manufacturers to insure their customer warranties. For example, if the repair or replacement costs of defective or weak battery modules exceed a predetermined amount, the insurance then covers the rest. Manufacturers can thus unburden their balance sheets.It will also become easier to obtain project financing, because the maximum costs for any warranties are capped by the insurance cover. This constitutes a distinguishing feature for investors. The product makes it significantly easier for manufacturers to ramp up deployment of battery capacities, thus making renewable energy more dependable and widely available.

The coverage can optionally be expanded to protect selected investment projects directly, so that the insurance will pay even if the manufacturer who issued the warranty files for insolvency within the warranty period.The insurance cover is primarily aimed at major projects, such as those to ensure grid stability or to cover peak demand periods. In a second phase, the product will be introduced onto the mobility market, for example to insure performance of batteries in electric vehicles.The first customer for the new insurance product is the US battery manufacturer ESS Inc.,whose redox flow batteries will now be sold with Munich Re’s performance warranty cover. ESS produces stationary battery modules that allow energy from solar parks and network operators to be stored over long periods.Munich Re is a world leader in the development of new insurance solutions for climate-friendly technologies. In addition to its new battery performance insurance, Munich Re has been offering performance coverage in other areas of the renewable energy sector for several years, for example for solar and wind parks and fuel cells.Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the capital investment company MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. It offers customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake to the 2017 Atlantic hurricane season and the California wildfires in 2018. Munich Re possesses outstanding innovative strength, which enables it to also provide coverage for extraordinary risks such as rocket launches, renewable energies, cyber attacks, or pandemics. The company is playing a key role in driving forward the digital transformation of the insurance industry, and in doing so has further expanded its ability to assess risks and the range of services that it offers. Its tailor-made solutions and close proximity to its customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals. Source: munichre

APRIL 2019

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Energy storage

TataChem signs MoU with ISRO for lithium-ion cell technology Tata Chemicals has signed a non-exclusive agreement with the Indian Space Research Organisation for the latter’s lithium-ion cell technology. Under this agreement, ISRO will transfer the technology to Tata Chemicals which will utilise the knowhow to manufacture lithium-ion cells, Tate Chemicals said in a statement

he Vikram Sarabhai Space Centre, a part of ISRO, has developed the technology to produce space grade lithium ion cells of various kinds, to power its rockets and satellites. Arvind launches water components and O&M business. Arvind has launched a new business division ‘Kaigo’ specialising in wastewater management, which will have two verticals including components and spares and operations and maintenance services. Through the new vertical and its sister concern Envisol, Arvind will focus on creating end-to-end solutions across projects, components and services for water treatment, industrial waste water treatment, sewage treatment, desalination and zero liquid discharge at minimal cost, the company said in a statement. Waaree Energies has launched customized solar modules for electric vehicles. These indigenous modules, specially designed for the transport industry, are portable, flexible, lighter, durable and more efficient, and expected to increase the efficiency of EVs by 10-25 percent, it said in a statement. Waaree will manufacture these modules in their facility in Surat in Gujarat. Siemens installs RDS for Gail India Siemens will install state-of-the-art remote diagnostic services (RDS) for state-run gas major Gail India covering gas turbines installed across the Hazira-Vijaipur-Jagdishpur (HVJ) pipeline and Vijaipur C2/C3 plant. The scope includes supply of RDS hardware, site installation and commissioning including three years’ remote operational service desk and help-desk services, the company said in a statement. IRB partially commissions Yedeshi-A’bad project. IRB Infrastructure has partially commissioned the Yedeshi Aurangabad Tollway project, which is part of the Rs 3,370-crore four laning highway project from Yedeshi to Aurangabad in Maharashtra. The newly-widened highway will now have direct and quicker connectivity between the cities, including Solapur and Aurangabad,” the company said in a statement.

Ingeteam’s hybrid solarplus-storage inverter now compatible with BYD’s HV batteries Ingeteam and BYD have tested and certified at their respective R&D laboratories the compatibility of BYD’s high voltage Battery-Box H 5.1 and 6.4, and Ingeteam’s INGECON® SUN STORAGE 1Play hybrid solar-plus-storage inverter.

he coupling of Ingeteam’s inverter and BYD’s batteries is a complete hybrid system to capture and maximize the use of the solar resource. The versatility of the Ingeteam hybrid inverter in combination with BYD’s HV battery, permits to operate in standalone mode, back-up (UPS) mode or selfconsumption mode. Thus, on-grid systems can store the solar energy during the day to consume it at night without risk of a power outage in case of a grid blackout, prioritizing the maximum self-consumption ratio at the same time.During the certification process, BYD implemented a new battery capacity calibration system to improve the measuring and control of the state of charge of the battery. This newest feature was also implemented and certified within the Ingeteam inverter.BYD’s LiFePO4 high voltage battery, with its 5.1 kWh and 6.4 kWh of capacity -depending on the model-, has been conceived for residential and commercial use, storing the electric energy and optimizing the installation’s energy efficiency thanks to the stabilization of the power supplied.For its part, the Ingeteam hybrid inverter makes it possible to connect a PV array and a battery bank to the same unit, thereby reducing the cost of the system as a whole. This is a 3 or 6 kW single-phase transformerless inverter, to address residential and commercial installations. Source: ingeteam

Source: PTI

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APRIL 2019

Energy storage

Battery energy storage systems in India: New kid on the block With India aiming to set up 175 GW of renewable energy capacity by 2022, deploying BESS will only aid network operators, mitigate renewable resources’ variability, and reduce congestion on the grid

arlier last month, Tata Power, AES Corporation, and Mitsubishi Corporation inaugurated India’s first 10 megawatt (MW) grid-scale battery-based energy storage system in Delhi. The unveiling of this energy storage facility is a significant step forward in revolutionising India’s power systems and augmenting the grid efficiency to match up with the global trend of upcoming energy storage systems.It is predicted that by 2035, developing nations will represent about 80 per cent of the total energy production and consumption, and an extensive share of the required capacity will probably be derived from renewable sources. While the cost of renewable energy generation has been declining, integrating and efficiently expending the energy resources, especially in areas where the grid infrastructure is inadequate, will require support systems such as integrated energy storage infrastructure. Each nation’s energy storage potential is usually reliant on the combination of energy resources present, physical infrastructure available including grid position, regulatory framework, energy supply, demand trend, and population demographics of such nation. Energy storage market worldwide is presently constrained by various barriers, which include lack of understanding of storage technology, regulatory framework, significant upfront investments, value recognition, absence of subsidised financing and availability of skilled and experienced workforce to manage energy storage systems. Despite these prevalent challenges, energy storage as an innovative solution is increasingly being sought globally to meet the emerging requirements of the developed as well as the developing nations. And installation of battery storage energy system (BESS) is increasing dramatically as energy markets are being transformed to allow for the use of more diversified resources.

APRIL 2019

Reports that are generally available forecast that the global BESS market is expected to exceed more than $9 billion by 2024 at a compound annual growth rate of 34 per cent. BESS are crucial for enabling the effective integration of renewable energy and unlocking the advantages of local generation and a clean, robust energy supply, with value being demonstrated to grid operators for management of the variable generation of renewable energy. With India aiming to set up 175 gigawatt (GW) of renewable energy capacity by 2022, deploying BESS will only aid network operators, mitigate renewable resources’ variability, and reduce congestion on the grid. The growing renewable power capacity clubbed with appealing business for electric vehicles will strengthen the rationale behind BESS. Recent amendments brought about by CERC in the ‘Connectivity Regulations’ and the inauguration of the first grid-connected BESS have drawn the attention of industry to energy storage systems in India and their imperative role in the Indian context. Initial steps have also been initiated by certain state governments to develop storage capacities. Recent news reports have highlighted the initiative of Haryana Electricity Regulatory Commission seeking Haryana Power Purchase Centre to study the financial viability of a solar project coupled with battery energy storage system, while another report has claimed development of a 14 MW solar project with an aggregate battery storage capacity of 42 megawatt hour (MWh) in Leh and Kargil. Although, the above news has not been officially validated but indications themselves are evidence of the positive interest the state governments have in energy storage projects.Indian corporates have also exhibited a keen interest in the development of energy storage projects and are pursuing this innovative solution. Recently, Sterlite Power submitted its bid for two projects invited by the Salt River Project (SRP) in Arizona, USA for a cumulative capacity of 400 MW. Sterlite proposes to provide for SRP’s capacity and energy needs, including ancillary services. Given the immense potential in the energy storage sector and its perfect integration with the growth of renewable energy sector, it may be apt to quote a Forbes news report which states, “Cheap batteries mean that wind and solar will increasingly be able to run when the wind isn’t blowing and the sun isn’t shining”. Success of energy storage system will, however, have to be backed by the government and the government will have to consider providing policy incentives in line with practices in countries such as South Korea, as a result of which South Korea overtook the US in 2017, to become the largest battery energy storage market globally. Deployment of BESS may not be the ultimate resolution to the rising electricity demand in India with installed capacity likely to cross 600 GW by 2030, but its potential also cannot also be undermined, especially when BESS can play a pivotal role in addressing the call for better demand response in India. Source: energy.economictimes.indiatimes

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TECHNOLOGY

Google uses AI to predict wind energy output

In collaboration with its Britain-based Artificial Intelligence (AI) subsidiary DeepMind, Google has developed a system to predict wind power output 36 hours ahead of actual generation.

Google said that these type of predictions can boost the value of wind energy and can strengthen the business case for wind power and drive further adoption of carbon-free energy on electric grids worldwide. Over the past decade, wind farms have become an important source of carbon-free electricity as the cost of turbines has plummeted and adoption has surged,” Sims Witherspoon, Programme Manager at DeepMind and Will Fadrhonc, Carbon Free Energy Programme Lead at Google wrote in a blog post this week. However, the variable nature of wind itself makes it an unpredictable energy source – less useful than one that can reliably deliver power at a set time, they said.

n search of a solution to this problem, DeepMind and Google started applying machine learning algorithms to 700 megawatts of wind power capacity in the central US.These wind farms – part of Google’s global fleet of renewable energy projects – collectively generate as much electricity as is needed by a medium-sized city.Using a neural network trained on widely available weather forecasts and historical turbine data, the researchers configured the DeepMind system to predict wind power output 36 hours ahead of actual generation.

Based on these predictions, our model recommends how to make optimal hourly delivery commitments to the power grid a full day in advance, Witherspoon and Fadrhonc wrote. This is important, because energy sources that can be scheduled, or can deliver a set amount of electricity at a set time, are often more valuable to the grid.

To date, machine learning has boosted the value of our wind energy by roughly 20 per cent, compared to the baseline scenario of no timebased commitments to the grid, the post said. Source: IANS

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APRIL 2019

TECHNOLOGY

Power Output of Jinergy HJT Module Breaks 450W Dr. Liyou Yang, general manager of Jinneng Clean Energy Technology Ltd (“Jinergy”), a China-based technologydriven PV manufacturer, was invited to speak at PV CellTech 2019, organized by PV Tech, one of the influential media in the PV industry.

In the speech entitled Mass Production Technology of Heterojunction Solar Modules, Dr. Yang mentioned that, following Moore’s Law, the cost of PV power generation will drop significantly and the market size will grow accordingly. Among all ultra-high efficiency technologies, HJT with its distinctive advantages such as fewer and simpler processes, no LID/PID, low temperature coefficient, is the most promising to become the next generation mainstream technology. Effective energy yield of Jinergy’s HJT bifacial modules is about 44% higher than that of regular poly modules. According to Dr. Liyou Yang, currently, Jinergy’s HJT cell average mass production efficiency has reached 23.79%, and the efficiency of new experimental cells has reached 24.73%. Power output of the JNHM72 champion module has reached 452.5W. According to data from Jinergy’s experimental power station, taking the same installation area, Jinergy’s HJT module power generation is 50%-70% higher compared to regular ones with a tracking system. Jinergy is one of the first PV manufacturers to commercialize HJT modules in China. Jinergy’s HJT module received the first new IEC certificate in the world and was listed in DEWA and JPAC. Confronting energy restructuring and FiT reduction, bifacial ultra-high HJT technology is the ideal solution to further reduce LCOE, the widely used standard to evaluate investment of PV power stations. Being newly added to the BNEF Tier 1 solar module manufacturer list, Jinergy will continue to invest in R&D for cutting-edge technologies and contribute to the global renewable energy market with the most advanced and reliable products, Dr. Yang said. Source: Jinneng Clean Energy Technology Ltd.

Tata Power-DDL ties up with European firms to implement smart grid pilot in Delhi Tata Power-DDL joined hands with European firms Enedis, Schneider Electric, Odit-e and VaasaETT to implement a 1-megawatt smart grid demonstration project in the national capital, which would be insulated from any blackout in the main grid.

his microgrid will cater to a specific area which could be connected to main grid or can be at an isolated place. It will help store and supply renewable energy generation in the area and insulate the area from any outage or fluctuation in the main grid.The project is planned to start in May this year and is expected to be completed by October 2022.“In common parlance, this microgrid is in a way islanding of specific area for power supply. After the grid failure in 2012, the government has been working on the islanding project for Delhi.

However, this demonstrative project would be for specific area covering around 1000 households, Tata Power Delhi Distribution Ltd (Tata Power-DDL) Chief Executive Officer Sanjay Kumar Banga told PTI. The project would either be implemented the project in Civil Lines or Pitampura in Delhi, he said. “This (the project) is basically to harness renewable sources.” The company said the project would lead to maximisation of local consumption of renewable energy and support demand-side management through islanding capability of microgrid. It said: “The European Commission will provide a grant of 7.9 million euro for the project, while the overall project budget is euro 10.7 million. A memorandum of understanding in this regard was signed between Sanjay Kumar Banga, CEO, Tata Power-DDL; Philippe Monloubou, chairman of management board, Enedis; Luc Remont, executive vice-president (international operations), Schneider Electric; Philippe Deschamps, CEO, Odit-E; and Thomas N Mikkelsen, partner and director of consultancy, VaasaETT on the sidelines of the India Smart Utility Week 2019 here.Tomasz Kozlowski, EU Ambassador to India; Jean-Marc FENET, minister-counsellor for economic affairs, head of the regional economic department at the Embassy of France in India; Megan Richards, director of DG Energy at the European Commission; and Praveer Sinha, CEO & MD of Tata Power were also present on the occasion.

The collaboration with Enedis, Schneider Electric, Odit-e and VaasaETT is one of the significant milestones in the Indian power sector, said Praveer Sinha, managing director and CEO of Tata Power. Apart from this, four more such demonstrators are planned in Germany, Austria and Hungary as part of the project.Tata Power Delhi Distribution Limited (Tata Power-DDL) is a joint venture between Tata Power and the Government of NCT of Delhi. Source: PTI

APRIL 2019

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TECHNOLOGY

SoftBank Group invests $10m in Swedish solar cell maker Exeger

Japan’s SoftBank Group Corp (SBG) has entered into an agreement to invest $10 million in Exeger Operations AB, Stockholm-based manufacturer of solar cells, according to an announcement.

SB Energy Corp, a Japanese subsidiary of SBG, and Exeger have entered into a strategic partnership agreement to accelerate the global rollout of the Exeger technology. “We will use this initial SBG investment to accelerate commercialization across multiple markets,” said Giovanni Fili, founder & CEO of Exeger.

xeger produces solar cells that are meant to work efficiently in both artificial and natural light, with the potential to enable self-powered devices. The solar cells are used to integrate into mass market products like electronic devices, for a smarter use of energy, replacing the need to connect to an outlet for charging.

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The development of this innovative technology, which can convert any light into energy that can be used in any way, will dramatically transform people’s lifestyles and behaviours, said Shigeki Miwa, general manager of CEO Project Office and representative director & CEO of SB Energy Corp. The business of Exeger falls into one of the core business lines of SB Energy of generating power using natural energy. Since the establishment of SB Energy Corp in 2011, the firm has been engaged in solar powered energy projects such as establishing solar parks as well as expanding through acquisitions. Source: dealstreetasia

APRIL 2019

TECHNOLOGY

Neutrinovoltaic as the Next Logical Step After Photovoltaic

Energy 24/7 from non-visible Radiation n its early stages solar power also developed quite slowly. Although first implemented in 1958 for space travel, the 70s saw the use of solar cells primarily in small-scale applications such as pocket calculators, and almost 20 years passed before an entire household could be supplied with electricity. The triumph of photovoltaic technology set in at the beginning of the 90s, and now solar power derived from the visible spectrum is all-pervasive. Today the next stage in this evolutionary process is at hand: neutrinovoltaic! The Neutrino Energy Group is presently developing innovative hightech materials on the basis of spiked carbon derivatives that can be used to convert a portion of the non-visible spectrum into electricity. Neutrinovoltaic can be compared to a solar cell that provides power even in total darkness, and it will soon be possible to supplement conventional photovoltaic with this new technology.

We need to face the challenges of the future, urged Holger Thorsten Schubart, CEO of the Neutrino Energy Group. “Subjects such as energy production and environmental protection are more relevant today than ever before, and they require future-oriented thinking as well as innovative, long-term solutions. We need new technology that can help us to move away from the use of fossil fuel and thus free us from our dependence on the countries that possess these resources.” Schubart then went on to point out the necessity of utilizing current scientific findings for the development of new approaches in the field of energy technology.Schubart also criticized the way in which the general public is kept in the dark about the latest breakthroughs in neutrino research and emphasized their vast potential to solve our present problems. It is incontrovertible that invisible radiation from space offers us more energy on a daily basis than all of the world’s remaining fossil fuel reserves combined. This enormous energy source must be tapped. That has to be the focus of sensible research for the future, demanded Schubart.

Germany in Last Place Important findings regarding neutrinos are already acknowledged by the United States and many other countries, but they have not yet reached the German scientific community. According to Schubart, Germany presently holds last place globally with respect to applied research.

APRIL 2019

“It is, of course, exciting to know the origin of a single neutrino, or to be able to document neutrino activity in the eternal ice at the South Pole and to capture a particle every now and then, but one should never lose sight of the actual goal of the millions and millions being spent on this research, namely the acquisition of knowledge that can help us to create a better world,” said Schubart.

Citing the official standpoint of the United States Department of Energy, the CEO of the Neutrino Energy Group said: “Recent scientific findings have now put us in a position to be able to derive energy from invisible, high-energy cosmic and solar radiation using neutrinovoltaic technology. At the beginning of 2015, the Neutrino Energy Group had already published its theory on the conversion of non-visible cosmic radiation into usable energy, and this was then indirectly corroborated by the research of the Nobel Prize laureates in Physics in 2015 who proved that neutrinos possess mass. Two years later, scientists from the University of Chicago were able to demonstrate that neutrinos are actually able to cause molecules to move, and this finding represents the very foundation of neutrinovoltaic technology.

Collision with extremely dense Matter Similar to the process by which wind causes the blades of a windmill to spin, neutrinos can set molecules in motion. However, in order to do this, the neutrinos must strike an extremely dense material. As they penetrate this material, they give up a small portion of their kinetic energy. Enormous numbers of neutrinos bombard each point of our planet in an uninterrupted stream: 24 hours a day and thus even in total darkness. It is estimated that approximately 60 billion neutrinos pass through a square centimeter of the earth’s surface each second. Under normal conditions, neutrino activity cannot be perceived, because the materials which are to be found in nature are not dense enough to be affected by them on a regular basis. Some scientists speculate, however, that neutrinos do in fact influence or even cause certain biological processes, even though they presently remain unnoticed. Incontrovertible is the fact that neutrinos make up a massive amount of the energy of our universe. The challenge for future generations is to tap this energy by means of neutrinovoltaic technology.In cooperation with highly specialized material researchers, the Neutrino Energy Group has succeeded in developing and patenting a material that is dense enough to be affected by neutrinos (Atomic Vibrations at Nano Materials). The cores of neutrinovoltaic cells will be made of precisely this substance.

Vertical and horizontal Impulses In order to attain the required effect, several extremely thin layers of spiked graphene and silicon are applied to a suitable substrate. When neutrinos pass through these layers, they are not captured, but they do give the graphene vertical impulses, while the silicon particles are caused to move in a horizontal direction. When the layers are of an optimal thinness, these atomic vibrations create a resonance that is carried over to the substrate, and the resulting kinetic energy can be converted into electricity.

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TECHNOLOGY The larger the area, the more power is produced, and even a simple calculation suffices to demonstrate that enough electricity can be produced to one day render power cables and electrical sockets things of the past.

One of the most promising Approaches “We are presently in the 21st century: Space travel is a reality; surgeons operate using lasers; and we all have smartphones with touchscreens. But when it comes to energy production, we are, figuratively speaking, still standing in a phone booth that only takes coins and has a rotary dial,” said Schubart.

Former Austrian Undersecretary Gernot Spanninger called for more courage: “We need to create opportunities for innovation, not block them with an overemphasis on tradition and fear! In this context, the motto is: The necessity for a technological revolution in the field of energy production cannot be asserted clearly enough – or often enough.” Spanninger sees the current Global Risk Report as a confirmation of the findings of latest Climate Change Conference in Katowice: “The greatest dangers at this time are climate change and the extreme weather conditions that result from it. Our climate and the wellbeing of future generations cannot tolerate further delay. It is time to put the latest scientific findings into practice! Neutrinovoltaic technology offers undreamed-of possibilities in the field of energy production. It is one of the most promising approaches in the worldwide development of energy technology.”

Source: Neutrino Energy Group

INNOVATION: Simple, inexpensive frame to boost solar cell efficiency Scientists have designed a metal frame that increases the amount of sunlight captured by a solar cell, enhancing its energy production by almost one-third. However, the design had not been tested to see how it actu-

The simple, inexpensive and ingenious method could increase solar energy captured for people in developing countries, as well as remote regions that are off the grid, researchers said.

In Uganda, between 20 to 25 per cent of people have no access to electricity, said Beth Parks, an associate professor at Colgate University in the US. One solar cell supplies enough energy to power lights and charge cell phones and radios. This is a huge quality-of-life improvement, said Parks.

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hile solar panels offer a clean source of renewable energy, they are typically mounted on a fixed frame and only optimally oriented towards the sun during specific hours of the day.Parks previously saw a design for a frame that would allow the solar panel to track the sun using hanging weights.

ally performed. Nor had it been optimised for affordability to ensure commercial viability and adoption.Parks worked with students at the Mbarara University of Science and Technology in Uganda to design a frame using metal tubing that a local welder could easily obtain and assemble.

We have created a frame using inexpensive materials that allows the solar panels to track the arc of the sun throughout the day, Parks said. “This approach could make solar energy more affordable to households and small businesses in the developing world,” she said. In her design, a bucket of rocks is placed on the west side of the frame and a bucket of water is placed on the east side. Using a controlled leak from the water bucket, the weight shifts and the panel slowly rotates from east to west throughout the day.Parks and her team tested the design on 20 random days in Uganda. The solar cell on the movable frame captured 30 per cent more sunlight than the stationary solar cell at the same location. If this frame is adopted, it has the potential to create a small industry for the local community, Parks said. According to Parks, the cost of the system — the solar cell, battery, charger and frame — is about 10 per cent less than a comparable rooftop solar cell system.

Source: PTI

APRIL 2019

TECHNOLOGY

AI Has Become A Key Contributing Factor In The Renewable Energy Sector One of the biggest threats that humanity currently faces is that of climate change. With the number of climate-changerelated issues resulting in more and more deaths each year, the challenge before governments and energy solution providers is to bring out a sustainable mode of renewable energy.

Google’s DeepMind recently announced that it is working in this field. According to the company, by training its neural network with the widely available weather forecast, combined with turbine data, to improve the efficiency of wind energy by 20 per cent. By doing so, the system could predict wind power output 36 hours ahead of the actual generation. further, they trained the system to make optimal hourly delivery commitments to the power grid a day in advance based on the predictions. Although we continue to refine our algorithm, our use of machine learning across our wind farms has produced positive results. To date, machine learning has boosted the value of our wind energy by roughly 20 per cent, compared to the baseline scenario of no time-based commitments to the grid, the researchers said in a blog post.

Monitoring The Health Of The AI Systems The future of renewable energy will be shaped by autonomous and robotics technologies. These emerging technologies are increasingly being used to automate operations and to boost the efficiencies of devices like solar panels and wind turbines.DNV GL – Energy. one of the leading players in the field is now looking at leveraging AI to improve their product offerings. According to the company, autonomous drones with real-time artificial intelligence can be used to carry out effective and efficient inspections of wind turbines and solar panels. While robotics can play a vital role in remote inspection, and proving to be more beneficial in maintenance and troubleshooting.

ith key industry players constantly looking for means to cater to the burgeoning demand for clean, cheap and reliable energy, emerging technologies like artificial intelligence and machine learning have become the solution to this industry woe.In this article, we look at how renewable energy providers are currently using AI and ML to improve their functioning.

Weather Forecast One of the main challenges which have been attributed to renewable energy sources like wind and solar energy has been the intermittence in connection leading to unsteady power connections. Be it lack of sunlight due to a cloudy day or drop in the wind speed, this could substantially affect energy generation.To overcome these challenges, companies are tapping to AI to develop models and software to predict change in weather patterns.

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We expect the installation of more sensors, the increase in easier-to-use machine learning tools, and the continuous expansion of data monitoring, processing and analytics capabilities to create new operating efficiencies—and new and disruptive business models, commented Lucy Craig, Director Technology and Innovation at DNV GL – Energy.

Designing Renewable Energy Systems As renewable energy is a data-rich environment and with wind turbines and solar panels generating data periodically, more and more industry players likeDNV GL – Energy and NREL energy are now embedding AI in their systems. Various aspects of the technology like machine learning and automation are being used for real-time monitoring, supply chain optimisation and even for cost reduction.

Managing Pricing Due to the high rate of unpredictability associated with the renewable energy sector, AI has been used to make predictions about the demand by leveraging smart meters to foresee energy usage among users. Further, by using machine learning on meteorological data, the outcomes can be used to predict the energy production in the future thus substantially reducing the cost.Recently in India, two researchers from the Thapar Institute of Engineering and Technology, designed a cost-effective and time-efficient AI to inspect solar panels. The device uses machine learning and clustering-based computation for a speedy inspection process, thus bringing down the cost of energy production substantially by increased solar power forecasting models.

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TECHNOLOGY

Merlin Photovoltaic (PV) solar modules

Waaree Energies launches customised solar modules for EVs Mumbai-based Waaree Energies, India’s largest solar photo voltaic manufacturer and a leader in the rooftop segment, has launched customised solar modules, a solar power solution to electric vehicles (EVs) to enable charging on the move.

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ccording to the company, these indigenous modules, specially designed for the transport industry in India, are portable, flexible, lighter, durable and more efficient, making them ideal for vehicles. They are ideal for vehicles where energy is required for many services including auxiliary functions like refrigeration.Being indigenously developed by Waaree, they are cost effective says the company. After successfully associating with Bergstorm and Motherson Sumi, Waaree Energies is now looking for more such partners.

According to Sunil Rathi, director, Waaree Energies, “Waaree Energies has always aimed at transforming India into a solar-reliant country. With Waaree customised solar modules, Waaree is aiming to cater to the electric vehicles that are expected to hit Indian streets in the coming years. With the flexibility and durability of these modules, we expect a great outcome. It will significantly reduce the frequency of charging the vehicles and contribute to reducing climate change. These modules are expected to increase efficiency by 10-25 percent. The customised modules are manufactured in Waaree Energies’ Surat plant and will help reduce current costs of maintaining EVs. In addition to catering to EVs, these panels can also be installed on commercial vehicles.

APRIL 2019

TECHNOLOGY

Sungrow Reveals New 1500V Energy Storage Systems at Energy Storage Europe As a global leading inverter solution supplier for renewables, Sungrow showcases multiple solutions to visitors of this year’s Energy Storage Europe, taking place

hese solutions help plant owners utilize solar energy efficiently before and even after sunset. Systems on display include the Company’s latest 1500V Energy Storage Systems (ESS) as well as residential hybrid inverters and lithium battery systems.For utility-scale applications, Sungrow displayed its latest all-in-one 1500V energy storage system ST2740KWH-2500HVMV. This containerized solution integrates energy storage inverters, lithium-ion batteries and medium-voltage transformers, which significantly saves on initial investment and upcoming O&M costs. Featuring high efficiency and allowing for system expansion, the solution is applied to frequency regulation, demand response, peak-shaving, energy arbitrage as well as renewable energy ancillary services. Focusing on fast growing residential and Commercial & Industrial energy systems, Sungrow presents its new residential hybrid inverter SH3k6/4k6 and power conversion system SC50HV for 1500 Vdc System, which is characterized by its compact design and weight only 22kg, easy to be installed by only one person. Meanwhile, Sungrow’s battery modules E2 and M2F are proven to be another state-of-the-art solution required from the industry. As the Company continuously pushes for innovation, these solutions do not only create a higher investment payback but also an industry leading life-cycle performance. The global energy storage industry is poised for takeoff. Storage applications in the field are set to proliferate as costs continue to decline. Currently, the market is highly concentrated on countries like the United States, Germany, England, Japan, Korea and Australia. In Germany in 2018, 90,000 commercial and household operations invested in PV battery systems. Furthermore, only 8 percent of rooftop PV systems in Germany are equipped with an ESS today – by 2030 it could be well over 80 percent.Renewable energy is a fundamental and growing part of the world’s ongoing energy transformation. Governments all over the world are joining that consensus.

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Storage has arrived, says James Wu, Vice President of Sungrow PV & Energy Storage Division. “Over the years, Sungrow has been maintaining an industryleading level of sustainable growth in international markets. We will continue to work pragmatically to build the products of the future – be it in power conversion or storage.”

Professor Cao Renxian, Chairman of Sungrow, deputy of National People’s Congress told the Xinhua News Agency reporters interview during the CPPCC & NPC Sessions, said that “China’s renewable energy development has entered a new historical period ahead of schedule, but still needs the supports from government policy.” With multiple product units in terms of high efficient PV and energy storage solutions, Sungrow will keep contributing to the application and innovation of clean energy, to accelerate PV industry towards global grid parity and deliver the harmony of environment and humanity, he added. Source: Sungrow

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TECHNOLOGY

100MW Solar-Fishery Plant Takes the Lead with Huawei 1500V Smart PV Solution The Sihong 100MW PV project, a solar-fishery plant constructed by SPIC Jiangsu Electric Power Co., Ltd. has taken the lead in grid-tied power generation. The project fully uses the most advanced Huawei FusionSolar 1500V Smart PV Solution.

he Sihong Hybrid Fishery-Solar 100MW PV project is located in Suqian city, Jiangsu province, covering an area of about 2km2. The large-scale PV power plant was built on the local lake, intertidal zones and fish ponds. Multipurpose use of land increases both the agriculture and fishery revenue, and improves the integrated utilization efficiency of land. Advanced N-type Bifacial PV Modules are used and a total of 51 transformer stations are installed.The rear radiation of the bifacial PV module is uneven. As a result, the overall output power of the PV module is different, and the current discrete rate of the PV module reaches more than 5%. In this case, the MPPT granularity of inverters should be finer.The project fully adopts Huawei 1500V Smart PV Solution with 1000 inverters in total. (Note: The 1500V string inverter in China is SUN2000100KTL, while in India is SUN2000-95KTL-INH0.) Every two strings connected to Huawei SUN2000-100KTL inverter dedicated for bifacial PV modules from one MPPT circuit, which means that the inverter has the finest MPPT granularity in the industry. This minimizes the mismatch caused by bifacial PV modules.

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After the project is completed, it is estimated that the annual energy yield will be 143.67 million kWh, promoting the comprehensive development of ecological fishery and the construction of an advanced state-level PV power generation application base.The 1500V PV system becomes the global trend and is the preferred solution to reduce costs. The 1500V smart PV system with bifacial PV modules reduces the LCOE (levelised cost of energy) helping customers to achieve gridtied power generation at a fair price. Source: huawei

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INTERNATIONAL

Dubai’s DEWA invites developers for fifth phase of solar park The solar park aims to generate 1,000 MW by 2020 and 5,000 MW by 2030 with investments worth 50 billion Dirhams ($13.6 billion)

Dubai Electricity and Water Authority (DEWA) said it has issued a Request for Qualification (RFQ) for developers to build and operate the fifth phase of its Mohammed bin Rashid Al Maktoum Solar Park.

he solar park is a vast complex that aims to generate 1,000 MW by 2020 and 5,000 MW by 2030 with investments worth 50 billion Dirhams ($13.6 billion). It currently has a capacity of 900 MW.

The phase will use photovoltaic solar panels based on the Independent Power Project (IPP) model. It will be commissioned in stages starting from Q2 of 2021, DEWA said in a statement. ($1 = 3.6727 UAE dirham) Source: reuters

UAE firm to develop $5bn solar scheme in Bangladesh The 5GW project is backed by the Arab Investment Development Authority and will be completed by 2030

he UAE’s Almaden Emirates Fortune Power and Bangladesh’s Intraco Solar Power signed a preliminary agreement this week to develop solar plants backed by investment commitment of $5 billion from the Arab Investment Development Authority.AIDA, which is supported by the EU and UN has a mandate to develop and finance sovereign projects across the subcontinent, Mena as well as Africa in human development, energy, infrastructure, agriculture as well as technology. The solar development will be completed over a six or eight year timeline and will see the deployment of 14 million solar panels, with a total capacity of 5 GW, in one of the largest such investments in the sector in Bangladesh.

APRIL 2019

The project will help reduce electricity generation costs and create jobs from both the power plants and the proposed solar manufacturing facility based on an annual 500 MW capacity, AIDA chairman Adil Al Otaiba.The development will reach its maximum capacity by 2030. The solar scheme would be a significant addition of power generation capacity to Bangladesh, whose electricity sector is prone to system losses, electricity theft, poor efficiency besides struggling with fund shortages to maintain its plants. The government had in its power sector master plan in 2016 envisioned a potential for renewables to contribute 3.6GW of power generation.As part of the preliminary agreement, UAE’s Almaden Emirates Fortune Power will along with its Bangladeshi partner and AIDA also work on managing development and transaction teams across geographies and environments.Dubai-based Safa Capital was the lead financial advisor for the scheme.

Source: thenational.ae

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INTERNATIONAL

ADB, Baikonyr Sign Deal to Develop Solar Power in Kazakhstan The Asian Development Bank (ADB) signed a $11.5 million loan in tenge equivalent with Baikonyr Solar Limited Liability Partnership (Baikonyr Solar LLP) to support the development of solar power in Kazakhstan and further enhance the country’s energy security through increased renewable sources.

he loan agreement for the Baikonyr Solar Power Project is the first time that long-term local currency financing has been provided by ADB for a solar project in Central Asia. It also marks ADB’s first foray in solar energy financing in the subregion, and its first cofinancing with the European Bank for Reconstruction and Development in Kazakhstan’s renewable energy sector.

Kazakhstan’s energy sector has mostly relied on coal with almost 80% of the country’s electricity generated from coalfired power plants, which are mostly outdated and obsolete, said ADB Senior Investment Specialist for Private Sector Operations Mr. Mohammed Azim Hashimi. “ADB’s loan to Baikonyr will help Kazakhstan achieve its goal of increasing the share of renewable energy in the country to 50% by 2050, while reducing its carbon emissions.” The project comprises the design, construction, commissioning, operation, and maintenance of a 50-megawatt solar power plant, along with the necessary infrastructure for grid integration. The solar plant—which is expected to generate 73 gigawatthours of electricity per year and will include approximately 150,822 photovoltaic panels, 14 central invertor stations, and a substation—will be located in southern Kazakhstan over 150 hectares of land.

Baikonyr Solar LLP is a special purpose vehicle incorporated in Kazakhstan and is owned by UG Energy Limited and Baiterek Venture Fund Joint Stock Company (BVF), which is a subsidiary of Kazakh sovereign wealth fund Baiterek JSC. United Kingdom-based UG Energy Limited has been pioneering the development of industrial scale solar plants in Kazakhstan.

Building on the highly successful track record of our existing solar plants in Kazakhstan, we are particularly happy to have with the ADB and BVF two new strategic partners on board for our landmark Baikonyr project, said UG Energy Director Mr. Albrecht Frischenschlager. By cutting carbon emissions, the project will help the country fulfill its nationally determined contribution to the Paris climate agreement of a 15% decrease in carbon emissions below 1990 levels by 2030. ADB’s assistance further helps private sector engagement in the energy sector, while the construction and operation of the solar plant is expected to generate employment for the local population.ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. In 2018, it made commitments of new loans and grants amounting to $21.5 billion. Established in 1966, it is owned by 67 members—48 from the region. Source: adb.org

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APRIL 2019

INTERNATIONAL

ADB, GCF, and Australia Partner to Improve Renewable Energy in Tonga The Asian Development Bank (ADB) has approved $12.2 million grant for the Renewable Energy Project, which is under the Pacific Renewable Energy Investment Facility. Approved in 2017 by ADB, the facility finances renewable energy projects in the 11 smallest Pacific island developing member countries with an overall estimated cost of $750 million, with ADB providing up to $200 million.

he project will help improve the development and implementation of renewable energy projects in Tonga, enhancing the country’s energy security and reducing carbon emissions. ADB will also administer grants worth $29.9 million from the Green Climate Fund (GCF) and $2.5 million provided by the Government of Australia for the project.

The project will reduce the country’s dependency on imported fossil fuel for power generation, said the Energy Division Director of ADB’s Pacific Department Mr. Olly Norojono. “Providing Tonga’s population with better access to clean, resilient, and affordable electricity at a lower cost, particularly those in the outer islands where energy access is low and limited, will help the country achieve a more inclusive and sustainable future.”

DB, GCF, and the Australian government’s assistance will help Tonga transition its energy mix from being carbon intensive (at about 90% share) to a cleaner and more sustainable source through renewable energy resources. The project will also provide technical solutions, such as battery energy storage systems, as well as capacity building efforts to promote more private sector investments in renewable energy, which will help Tonga meet its 50% renewable energy target by 2020 and 70% by 2030.Main components of the project include the installation of battery energy storage system in Tongatapu; development of grid-connected renewable energy generation on the outer islands of ‘Eua and Vava’u; establishment of a renewable-based hybrid systems and mini-grids on the outer islands of O’ua, Tungua, Kotu, Mo’unga’one, and Niuafo’ou; and building of capacity of executing entities and communities, including women, to operate and maintain assets.ADB is helping the Pacific region prepare for a renewable energy future with a three-tiered approach that promotes energy efficiency and renewable energy; maximizes access to energy for all; and promotes energy sector reform, capacity building, and effective governance.ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. In 2018, it made commitments of new loans and grants amounting to $21.6 billion. Established in 1966, it is owned by 68 members—49 from the region. Source: adb.org

APRIL 2019

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INTERNATIONAL

US solar installations to rebound in 2019 as prices plummet: Woodmac The forecast for some 12.1 GW of solar panels in 2019 would mark a rebound from 2018 when installations dipped 2 per cent to 10.6 GW due to President Donald Trump’s decision to impose 30 percent tariffs on imported panels

New U.S. solar installations will grow by 14 percent this year thanks to lower equipment prices that helped to revive a slew of delayed projects, consultancy Wood Mackenzie said in its latest outlook released.

he forecast for some 12.1 gigawatts (GW) of solar panels in 2019 would mark a rebound from 2018 when installations dipped 2 percent to 10.6 GW due to President Donald Trump’s decision to impose 30 percent tariffs on imported panels.In its previous quarterly report on solar released late last year, Wood Mackenzie had forecast just 11.5 GW of solar installations for 2019. A GW of solar is roughly enough to power 700,000 homes.Despite the Trump administration’s tariffs, U.S. solar module prices have fallen due to improved technology and unforeseen oversupply in major solar developer China, which cut incentives for installations there. Utility-scale developers in the United States, meanwhile, are seeking to capture tax credits for installations that will begin to step down gradually next year. The report raised its utility-scale solar market forecast for 2019 by more than 8 percent to 7.8 GW from 7.2 GW, and also boosted its outlook for 2020 and 2021. Utility-scale projects, which make up more than half the market, were down 3 percent at 6.2 GW in 2018 Longer-term, the research firm raised its five-year forecast for the overall market by 4 percent to 71 GW from 68.2 GW since its last report. Utilities are including more solar in their long-term plans and corporate customers are increasingly driving procurement, the report said. Residential installations of solar panels will grow 4 percent to 2.5 GW, after growing in 2018 by 7 percent to 2.4 GW. States showing the strongest growth last year included California, Florida and Nevada.The nonresidential sector, which includes installations for businesses, will fall 13 percent to 1.8 GW in 2019. Installations in that sector fell 8 percent in 2018 to 2.1 GW in part due to delays in opening an incentive program in Massachusetts, he said. Prices for U.S. solar modules fell to 36 cents per module last quarter from 48 cents a year earlier, according to the report.

The African Development Bank pledges US$ 25 billion to climate finance for 2020-2025, doubling its commitments Bank to launch ‘Green Baseload’ Facility to provide concessional finance to support reliable and affordable renewable energy baseload “Desert to Power” initiative enters implementation stage with Yeleen Project in Burkina Faso The African Development Bank will double its climate finance commitments for the period 2020-2025, the Bank’s President announced at the One Planet Summit taking place in Nairobi.

Akinwumi A. Adesina said that the Bank would commit at least US$25 billion towards climate finance. Speaking at a plenary in the presence of Heads of State, including President Uhuru Kenyatta of Kenya, and French President Emmanuel Macron, Adesina also announced the Bank is on course to achieve its target of allocating 40% of its funding to climate finance by 2020, a year ahead. The Bank’s commitment on the target, the highest among all multilateral development banks, has progressed steadily from 9% in 2016 to 28% in 2017 and 32% in 2018. onsidering Africa’s high vulnerability despite contributing the least to climate change, the African Development Bank has successfully raised its adaptation finance from less than 30% of total climate finance to parity with mitigation in 2018. The African Development Bank will continue this trend into the future.

The required level of financing is only feasible with the direct involvement of the entire financial sector, said Adesina. “Consequently, the Bank launched the African Financial Alliance for Climate Change (AFAC) to link all stock exchanges, pension and sovereign wealth funds, central Banks and other financial institutions of Africa to mobilize and incentivize the shift of their portfolios towards low carbon and climate resilient investments.” The Bank made another milestone announcement. “It is not good enough to simply ask countries to stay away from polluting technologies,” he said. “We have to be proactive in exploring alternatives. We will therefore be launching the ‘green baseload’ facility under the Sustainable Energy Fund for Africa (SEFA 2.0) to provide concessional finance and technical assistance to support the penetration and scale-up of renewable energy, to provide affordable and reliable renewable energy baseload.” The Bank made another milestone announcement. “It is not good enough to simply ask countries to stay away from polluting technologies,” Adesina said. “We have to be proactive in exploring alternatives. We will therefore be launching the ‘green baseload’ facility under the Sustainable Energy Fund for Africa (SEFA 2.0) to provide concessional finance and technical assistance to support the penetration and scale-up of renewable energy, to provide affordable and reliable renewable energy baseload.”

Source: afdb.org

Source: reuters

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APRIL 2019

INTERNATIONAL

World Bank, AfDB commit $47 billion to African climate finance

The World Bank and the African Development Bank will together commit more than $47 billion by 2025 to help African countries tackle the effects of climate change, the banks said.

any countries on the continent, especially those on the coast, are among the most vulnerable to the effects of climate change such as rising sea levels and coral reef deterioration.Others are prone to more frequent droughts, desertification and floods.

The World Bank said in a statement it had pledged $22.5 billion for 2021-2025, while AfDB said it had committed $25 billion to climate finance between 2020 and 2025.AfDB said the funds would be used to increase investment in renewable energy projects like solar power plants.

The share of our portfolio that was in renewable energy generation between 2013 and 2015 was 59 percent but from 2015 to 2018 we moved from that to 95 percent, AfDB president Akinwumi Adesina told Reuters on the sidelines of a U.N. environment meeting. The World Bank said some of the beneficiaries of its funding would include projects in Ethiopia, Rwanda and Kenya.

Source: in.reuters

Risen Energy Wins the National Enterprise Technology Center Recently China National Development and Reform Commission, Ministry of Science and Technology, Ministry of Finance, Customs Head Office, jointly released the list of all national enterprise technology centers (the 25th session). In Sept. of 2017, Risen Energy’s high-efficiency twincell poly-silicon modules obtained China’s Top Runner Tier 1 Certification, signifying that their technology leadership is recognized by the national authoritative bodies. Risen Energy is the world’s first PV manufacturer to achieve the GW–scale mass production for bifacial AlOx passivated PERC technology. In Nov. 2018, Risen Energy’s bifacial AlOx passivated PERC modules realized an average cell efficiency of 22.19%, with the maximum production line efficiency up to 22.51%. Also, Risen Energy is the first PV manufacturer to accomplish mass production of 370W PERC bifacial dual-glass modules for “China Top Runner” projects.Recently, Risen Energy’s JÄGER HP 72-cell module conversion efficiency reached up to 21%, and this rewrites the world record of PERC module conversion efficiency in Jan 2019.

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he ranking list is targeted towards hightech enterprises who are competent in comprehensive competitiveness, technological innovation, and industrial leadership. Risen Energy Co., Ltd (Hereinafter as Risen Energy) outperformed numerous high-tech enterprises from all over the country and became a member of this valuable ranking. Risen Energy’s inclusion to this list is unsurprising. Partner with the world-class research institutes such as Chinese Academy of Sciences and Massachusetts Institute Technology (MIT), US, Risen Energy has made remarkable advancements in solar technology developments.

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Hong WANG, President of Risen Energy commented, “Technological innovation has always been the key driver for Risen Energy’s development. We are determined to seize the opportunity of the recent industrial technology generation change and to take the lead in new technology development and applications. Utilizing the national research platform, working with our partners to deliver more values to our customers is our ultimate goal.” It is known that the ranked National Enterprise Technology Center will enjoy relevant tax preferential policy according to state regulations. Source: Risen Energy

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INTERNATIONAL

Inverter maker Ginlong pockets USD 79m from Shenzhen IPO Chinese solar inverter maker Ginlong Technologies Co Ltd (SHE:300763) has raised CNY 532.8 million (USD 79.3m/EUR 70.3m) from its initial public offering (IPO) on the Shenzhen stock exchange

The manufacturer of the Solis inverters said in a press release it will use the funds to further expand its geographical presence and push the Solis brand in overseas markets. Currently, the company’s biggest clients come from Asia, Europe, America and Oceania, among others.

part from the photovoltaic (PV) industry, Ginlong Technologies’ inverters are also used in wind applications. The firm says on its website its products are being offered in more than 80 countries globally.The company’s stock officially started trading on the Shenzhen bourse on March 21, 2019. In the IPO, a total of 20 million shares were issued at a price of CNY 26.64 apiece, with Haitong Securities Company Ltd being the main underwriter of the deal. Source: renewablesnow

Qatar to launch largest energy bank with $10 bn Qatar will launch the world’s largest energy bank with a capital of $10 billion in 2019, an official of the new bank said.

he move comes in the context of a fast-growing energy sector in Qatar, which plans to expand the capacity of annual production of liquefied natural gas (LNG) to 110 million tonnes by 2024, reported Xinhua news agency.

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Mohamed al-Marri, Chairman of the new bank’s media committee, told an Islamic finance conference in Doha that operations would begin in the fourth quarter, according to a statement. The bank is going to be the largest Islamic energy-focused lender in the world and will target the private sector and government’s energy projects home and abroad, Marri said.The bank would focus on financing oil, gas, petrochemicals, and renewable energy projects, he added. Source: IANS

APRIL 2019

INTERNATIONAL

Exim Bank gives $83 mn line of credit to Congo to finance 3 solar power projects Exim Bank said it has given a loan of USD 83.11 million to Congo to finance three solar power projects in the central African country. Export-Import Bank of India (Exim Bank) has, on behalf of the government, extended three lines of credit (LOC) aggregating USD 83.11 million to the government of Congo, it said in a release.

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he loan will be utilised for financing three solar photovoltaic power projects with a total capacity of 35 megawatt in the three provinces â&#x20AC;&#x201D; Karawa, Mbandaka and Lusambo.The LOC agreements to this effect were exchanged between Ambassador of Congo to India Mossi Nyamale Rosette and Exim Bank Managing Director David Rasquinha during the 14th CII-Exim Conclave 2019 here.

APRIL 2019

With the signing of these three lines of credit for USD 83.11 million, Exim Bank, till date, has extended 10 LOC to the government of Congo on behalf of government of India, taking the total value of LOCs extended to USD 578.05 million, it said. Projects covered under the LOCs extended to Congo include hydroelectric power projects, power transmission and distribution projects, cement plant, hand pumps and submersible pumps installation, and solar power projects. With this line of credit, Exim Bank said, it has now put in place 244 LOCs covering 63 countries in Africa, Asia, Latin America and the CIS with credit commitments of around USD 23.43 billion available for financing exports from India. Source: PTI

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trade wars

Hanwha Q CELLS files patent infringement complaint against JinkoSolar, LONGi and REC Group Hanwha Q CELLS GmbH announced that it has filed a patent infringement complaint with the Regional Court of Düsseldorf against JinkoSolar and REC Group on March 4, 2019.

anwha Q CELLS & Advanced Materials Corp. and Hanwha Q CELLS USA Inc. (collectively with Hanwha Q CELLS GmbH, “Hanwha Q CELLS”) also filed a patent infringement complaint with the U.S. International Trade Commission (“ITC”) against JinkoSolar, REC Group, and LONGi Solar. Additionally, Hanwha Q CELLS & Advanced Materials Corp. filed related patent infringement complaints with the U.S. District Court for the District of Delaware against the same companies. The Regional Court complaint alleges that JinkoSolar and REC Group are unlawfully importing and selling solar cells and modules that infringe Hanwha Q CELLS patented passivation technology. JinkoSolar and REC Group have unlawfully incorporated this patented passivation technology – which plays an important role in improving the efficiency and performance of solar cells – into their solar cells. Hanwha Q CELLS began manufacturing Q.ANTUM solar cells using this passivation technology in 2012 and has produced more than 2.5 billion such cells globally. Hanwha Q CELLS seeks an order to stop JinkoSolar and REC Group from importing, marketing, and selling the infringing products in Germany.

Intellectual property laws exist to incentivize innovation and protect innovations from being unfairly used, and we will vigorously defend our technology from infringement,” said Hee Cheul (Charles) Kim, Chief Executive Officer of Hanwha Q CELLS & Advanced Materials Corp. “Our high-quality photovoltaic products have established us as an industry leader, and we are proud of our legacy of innovation. We have taken these actions both to protect our property rights and to give the market confidence that research and development initiatives to develop future technologies can continue. Source: q-cells

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JinkoSolar Refutes Allegations Made by Hanwha Q Cells JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE: JKS), a reputable solar module manufacture in the world, today announced that according to media reports, Hanwha Q Cells this week filed actions against JinkoSolar in the US ITC, US District Court of Delaware, and Germany’s regional Düsseldorf court. The actions follow the rapid growth of solar energy in the US and German markets where JinkoSolar has been successful.

ased on JinkoSolar’s preliminary analysis of Hanwha’s complaints and the asserted patents, the Company believes that the complaints are without technical or legal merit. JinkoSolar, therefore, categorically refutes Hanwha’s allegations. JinkoSolar is working closely with its legal counsel and technical advisors to vigorously defend against the claims made by Hanwha. The company is considering all legal avenues available, including petitioning for the invalidity of Hanwha’s alleged patents. JinkoSolar looks forward to prevailing in court. JinkoSolar fully respects intellectual property rights and encourages healthy competition, but it will take legal action to defend itself, its clients, and its partners. JinkoSolar does not expect any disruption to its normal operations arising from this matter. JinkoSolar has been allocating substantial resources to R&D over many years, and has broken world records for cell efficiency. JinkoSolar will strive to maintain its market leadership in solar module supply to the US and EU markets, providing its customers with high quality products and timely delivery. Source: JinkoSolar Holding Co., Ltd.

APRIL 2019

trade wars

LONGi’s statement on media reports of Hanwha Q-CELLS patent infringement It has come to the attention of LONGi – through news articles – that Hanwha Q-Cells has filed a Section 337 patent investigation with the U.S. International Trade Commission (“ITC”), and concurrently filed a patent infringement complaint in the U.S. District Court of Delaware, against Jinko Solar, REC and LONGi.

t this time, LONGi has not received any legal case documents about the complaints, nor any official business negotiation correspondence from Hanwha Q-CELLS on this matter before this event. LONGi has always attached great importance to technology innovations and respect for intellectual properties. At present, the company owns over 1,000 patents and patent applications, and maintains global leadership in various key photovoltaic technologies. LONGi’s PERC cells have repeatedly earned world records in cell efficiencies.

In preliminary analysis of the media information, the patent family used by Hanwha Q- CELLS in the complaint is acquired through multiple transfers and transactions from other research institutes; and act as a co-owner to the patents. Currently, several opposition procedures against the patents have been filed at least in Europe, and there is considerable uncertainty with regards to the validity of the patent rights. Furthermore, from a technical perspective, the current technology used in LONGi’s products is not the same as the technology contained in the disputed patents: the disputed patents are about ALD technology while LONGi uses PECVD technology. On further analysis of the media information, LONGi believes that the complaint will have no material impact on the production and operations of the Company. However, LONGi is prepared and ready to actively respond against the complaint. Concurrently, the Company will keep our valued interested parties such as our investors, strategic partners and customers updated and informed of the progress of this matter. Source: LONGi Solar

Meyer Burger Commented on Hanwha Q CELLS’s patent infringement case, citing different technology platforms Meyer Burger, a global leading photovoltaics technology company, commented that its cell coating platform uses proprietary PECVD technology and therefore is not in the scope of the patent infringement compliant by Hanwha Q CELLS against Jinko Solar, REC and LONGi

anwha Q CELLS filed notices in USA and Australia, alleging Jinko Solar and LONGi of patent infringement. The compliant claimed that the Defendants “have unlawfully incorporated this patently passivation technology … into their solar cells” Jinko Solar, REC and LONGi Solar have separately refuted the allegations by Hanwha Q Cells.

The comment by Meyer Burger’s CTO Dr. Gunter Erfurt was made to PVTech during the recent PV CellTech Conference in Penang, Malaysia which was published on 12th March 2019: “Recently solar module manufacturer, Hanwha Q Cells, submitted a patent infringement claim against several Asian solar module producers for the use of Atomic Layer Deposition (ALD) passivation technology. Meyer Burger’s MAiA® and FABiA® cell coating platforms use the company’s proprietary Plasma Enhanced Chemical Vapor Deposition (PECVD) passivation technology, which is the leading alternative technology to ALD and thus not in the scope of the patent infringement claim by Hanwha Q Cells. ”

APRIL 2019

Jinko Solar stated that the complaints are without technical or legal merit and categorically refutes Hanwha’s allegations. LONGi said, from a technical perspective, the current technology used in LONGi’s products is not the same as the technology contained in the disputed patents: the disputed patents are about ALD technology while LONGi uses PECVD technology. LONGi and Meyer Burger are long standing technology partners. LONGi presently deploys Meyer Burger’s MAiA equipment with PECVD passivation technology in the manufacturing of all its high efficiency monocrystalline PERC solar cells.

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trade wars

Hanwha Q CELLS files patent infringement complaints with the Federal Court of Australia against JinkoSolar and LONGi Solar, following legal action in the U.S. and Germany

Hanwha Q CELLS Australia Pty. Ltd., together with Hanwha Q CELLS & Advanced Materials Corp., a leading photovoltaic manufacturer of high-performance solar cells and modules (collectively, “Hanwha Q CELLS”), announced that, Hanwha Q CELLS filed patent infringement complaints with the Federal Court of Australia against JinkoSolar and LONGi Solar.

his follows an announcement on 5 March, 2019, that Hanwha Q CELLS & Advanced Materials Corp. and Hanwha Q CELLS USA Inc. filed a patent infringement complaint with the U.S. International Trade Commission (“ITC”) and Hanwha Q CELLS & Advanced Materials Corp. filed related patent infringement complaints with the U.S. District Court for the District of Delaware against JinkoSolar, LONGi Solar, and REC Group, and that Hanwha Q CELLS GmbH filed patent infringement complaints with the Regional Court of Düsseldorf against JinkoSolar and REC Group. The Federal Court complaints allege that JinkoSolar and LONGi Solar are importing and selling solar cells and modules that infringe Hanwha Q CELLS’s Australian patent rights. In particular, the complaints allege that JinkoSolar and LONGi Solar have incorporated Hanwha Q CELLS’s patented passivation technology–which plays an important role in improving the efficiency and performance of solar cells–into their solar cells. Hanwha Q CELLS began manufacturing Q.ANTUM solar cells using this passivation technology in 2012 and has produced more than 2.5 billion such cells globally. Hanwha Q CELLS seeks an order to stop JinkoSolar and LONGi Solar from importing, marketing, and selling the infringing products in Australia. Australia is one of the global leaders in the solar energy sector and Hanwha Q CELLS is fully committed to further strengthening this important industry. Hanwha Q CELLS’s innovative technology improves the efficiency and performance of solar cells, making solar energy more accessible and affordable for Australian consumers and businesses. Hanwha Q CELLS’s presence in Australia goes back to 2009 and it is proud that last year approximately one in 10 panels installed in the country’s residential and commercial segments were made by Hanwha Q CELLS. The legal actions Hanwha Q CELLS is taking will protect its ability to innovate and reinforce its reputation as a leading supplier of high-quality products and a trusted business partner to its customers across Australia.

Intellectual property laws exist to incentivize innovation and protect innovations from being unfairly used, and we will vigorously defend our technology from infringement,” said Hee Cheul (Charles) Kim, Chief Executive Officer of Hanwha Q CELLS & Advanced Materials Corp. “Our high-quality photovoltaic products have established us as an industry leader, and we are proud of our legacy of innovation. The products supplied by these two companies are using technology that we believe is protected by our Australian patent and we have taken these actions both to protect our property rights and to give the market confidence that research and development initiatives to develop future technologies can continue. We are not prepared to tolerate the unauthorised distribution in Australia of products that incorporate our patented technology.

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The patent claims asserted by Hanwha Q CELLS are not restricted to any particular method of manufacture, such as atomic layer deposition (ALD) or plasma-enhanced chemical deposition (PECVD). Instead, the asserted claims of Australian patent no. 20083232025 (and its equivalents in the U.S. and Germany) are directed to a solar cell structure with a first dielectric layer including aluminum oxide and a second dielectric layer that contains hydrogen. The patented technology can be applied in many ways. A solar cell employing what is known as Passivated Emitter Rear Cell (PERC) technology is only one type of solar cells that may use technology covered by Australian patent no. 20083232025 and its global equivalents.

The press releases about the related patent infringement complaints in the United States and Germany can be accessed here: Hanwha Q CELLS Files Patent Infringement Complaint with U.S. International Trade Commission Against JinkoSolar, LONGi Solar, and REC Group, March 5, 2019. Hanwha Q CELLS GmbH files patent infringement complaint with the Regional Court of Düsseldorf in Germany against JinkoSolar and REC Group, March 5, 2019. Source: Hanwha Q CELLS Co., Ltd.

APRIL 2019

awards & Recognitions

Growatt Receives All Quality Matters Award by TÜV Rheinland for MAX 80kW

On March 21-22, the “All Quality Matters” Award Ceremony & Solar Congress 2019 hosted by TÜV Rheinland was held in Suzhou. At this top solar stage, Growatt MAX series 80kW inverter won the Award of PV Inverter for Commercial Use with excellent quality and high functionality, ranking first of commercial inverters. At the event, MAX is the only C&I inverter that has won this honor. Quality, the Accelerator of Technological Innovation Since its foundation, Growatt has treated quality as the basis for the survival and development of the company. With our belief in quality and innovation, we have established a strict quality control system of five quality engineering projects: design engineering, component engineering, testing engineering, reliability engineering, and manufacturing engineering. For each new product, it requires hundreds of verifications and various long-term tests to simulate the real harsh environment; the components are carefully selected, and the key components adopted are all top brands. With internal standards higher than national standards, industry standards, and international standards, we provide quality products to consumers around the world.

Leading C&I Sector, Setting a New Benchmark With a number of innovative technologies, the MAX series of PV inverters surpass other brand inverters in the TUV test in efficiency, electric power quality, output capability and environmental adaptability are fully won in the TUV test.

High efficiency: The highest efficiency is over 99%, and China’s weighted efficiency is over 98%. High power quality: current harmonics of 1.12%, far below the 5% standard of the inverter. Strong output capability: MAX can output at 1.1 times, which can increase the PV input capacity and support high efficient and bifacial modules. Environmental adaptability: Even in a high temperature of 60 degrees, MAX can still operate at its full capacity. The MAX 60-100KTL3 LV/MV series of PV inverters improve the power generation efficiency, environmental adaptability and O&M monitoring capabilities of photovoltaic systems, and have been recognized by global consumers with outstanding performance.

The Growatt MAX 60-100kW quad-core smart inverter’s maximum efficiency reaches 99%. China’s weighted efficiency has been certified by CQC to be 98.67%. It is currently the most efficient record holder in China. MAX’s biggest advantage is the use of quad-core architecture with dual DSP, CPLD and ARM. The information and protection response speed has been doubled. Its One-Click Diagnosis will quickly scan the grid and PV system, and accurately locate the cause of the fault. Such smart function will reduce the O&M cost. MAX adopts 6-7 MPPT. Its maximum current for each string is 12.5A and it can reduce the loss of string mismatch. It has no DC fuse, a maintenance-free design eliminates wearing parts. It comes with AFCI protection, and will accurately identify the arc signal on DC side and response in time to avoid fire. It’s safe and reliable!

Premium Quality for Global Solar Growatt has mastered the core technology of inverter through its strong R&D capability. With its strict requirements for product quality and persistent pursuit of service quality, Growatt has provided 1.33 million+ PV inverter solutions for more than 100 countries across the globe. In Australia, two million PV systems have been installed and 200,000 systems use Growatt inverters. In India, Growatt is the largest Chinese inverter supplier in the rooftop sector. In Netherlands, Growatt’s market share is second to Solar Edge. The MAX 80KW, which won the Award of PV Inverter for Commercial Use this time, has already received the certification in accordance with Medium Voltage Directive of the German Federal Association for Energy and Water (Bundesverband der Energie- und Wasserwirtschaft in German, BDEW). And it has become the only 80KW inverter in the certification for BDEW 400Vac model. This certification is known for its requirements for high standard of functionalities of inverters. As of now, only few Asian inverter brands are able to pass the testing and receive the certification. For Growatt, the pursuit of quality will never end. Growatt will continue its R&D and innovation, provide premium products and professional customer services, and lead to provide smart and clean energy solutions for household, commercial and industrial PV projects. Source: growatt

APRIL 2019

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awards & Recognitions

GoodWe won 4 consecutive years of TÜV Rheinland “All Quality Matters” Award GoodWe has been honored with the TÜV Rheinland’s 2019 “All Quality Matters” award in recognition for the outstanding quality of its two inverter models, DSS on-grid residential inverter and ET three-phase energy storage inverter.

his is the fourth consecutive year that GoodWe is recognized with this prestigious award, providing solid evidence that quality has consistently been over the years a key element in the mission that inspire it. Worth mentioning is that GoodWe is the only company that has won this award four years in a row! The award ceremony took place on the 21st of March in the city of Suzhou and was attended by the company’s founder, Mr. Huang Min. The evaluation process that preceded the decision for this award was arduous and for this edition, Rheinland sampled and started testing one year ago, only concluding its report in March of 2019. Due to its objectiveness and impartiality, the TÜV Rheinland’s All Quality Matters Award has become over the years an important reference point on a global scale and being a recipient of this influential award is highly regarded in the whole of the industry. Over the years one of the strengths of GoodWe has been the high quality of its residential inverters, allowing the company to rank No. 1 supplier of the segment in Chinese domestic market and top brand in major PV markets which also be awarded by EuPD Reaserch. The GoodWe DSS is an on-grid residential inverter with hybrid-ready function and as part of this evaluation it was tested against the competitors’ products on the five categories of efficiency, output and input capability, power quality and thermal stability, coming first on the below parameters and becoming the undisputable champion of this year:

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Efficiency: thanks to its new topology technology, this inverter can achieve an efficiency of 98.6%, which makes it a leader among the singlephase inverters. Max Input Power: DSS Series is the first single-phase on-grid inverter in the market compatible with bifacial double-glass modules, which allows 12.5A input current per string. It also allows 35% DC oversizing to fully maximize capacity. Output Power: the DSS proved on this test to be able to comprehensively improve the AC output capability, generating more power thanks to its ability to support 1.1 times rated power output for extended periods. Apart from its strong performance, this series was also awarded with the prestigious Red Dot Design Award for its beautiful aesthetics and user-friendly design with a color touch screen LCD display. And it is in-built with Connector Temperature Sensor and Arc Fault Circuit Interrupters (AFCIs) which provides high-level safety. In the Chinese energy storage inverter industry, GoodWe is a sort of a pioneer and for this edition of the TÜV Rheinland’s“All Quality Matters” awards, GoodWe ET Three-Phase energy storage inverter was also the recipient of the award, being recognized as a leader of this market segment. The three key features of the ET series that stood out were its 30% oversizing ratio on the DC side, its outstanding and unique UPS function and its strong compatibility with several brands of high-voltage battery brands, including BYD. At the ceremony award, Mr. Huang Min mentioned that all over the years and despite the challenges, GoodWe has always seen delivering high quality inverters as its most important competitive advantage and its main contribution to the ongoing energy transformation. GoodWe would like to express its appreciation to its customers and partners for their continuous support and for sharing all that valuable feedback that has helped us to keep improving our products.

Source: goodwe

APRIL 2019

awards & Recognitions

Jolywood Wins TUV Rheinland All Quality Matters Award Jolywood (Suzhou) Sunwatt Co. Ltd. (Jolywood) has won TUV Rheinland’s All Quality Matters Award in the Outdoor Energy Yield’s Bifacial PV Module category with its pioneering N-type high-efficiency PV techniques.

he All Quality Matters Award, hosted by global industry leader TUV Rheinland, is an annual celebration of the outstanding contributions from manufacturers of PV modules, inverters, energy storage systems and components in Greater China, and has become a well-known barometer of trends in the PV industry. This year’s award ceremony was held in Suzhou, east China’s Jiangsu Province as part of the All Quality Matters Solar Congress. During the two-day event, Dr. Liu Zhifeng, GM of Jolywood (Taizhou) Solar Technology Co. Ltd, gave a speech on Jolywood’s N-type passivating-contact bifacial module techniques. After years of research and development of its N-type high–efficiency bifacial solar cells and modules, Jolywood has made groundbreaking achievements in enhancing conversion efficiency and reducing the levelized cost of energy (LCOE). One of its latest products, N-type passivating-contact bifacial cells, have raised the average conversion efficiency to over 22.5%, with front power of over 330W.

Due to the advantages of raw materials and structure, the passivating-contact solar cell has a high efficiency improvement space compared to the perc solar cell, and has advantages like no PID, zero LID, better weak light response, lower risk of cracking, etc. High–performance and high–reliability enable higher long-term benefits and lower LCOE. To assure high quality, all Jolywood products must go through multiple outdoor trials before being approved. The All Quality Matters Award Committee acknowledged Jolywood after a year-long series of on-the-spot inspections of the module’s outdoor energy yield, once again demonstrating Jolywood’s persistence in excellent quality. Gaining a firm foothold on the international stage, Jolywood has also partnered with globally-renowned Datong Panda PV, and the Dutch-based 11,75MW Zonnepark Rilland project, which is the largest utility-scale solar power plant built with N-type bifacial solar modules in Europe.

As a dedicated pioneer in the green energy industry, Jolywood has always been sticking to its high-quality standards and strict research and development principles,” said Chairman of Jolywood Lin Jianwei. “For over a decade, we have prioritized quality over everything, wholeheartedly devoting ourselves to the development of high-efficiency solar cells, high-quality PV backsheet and high-reliability encapsulating techniques. We hope to be a main force in the pursuit of the coming realization of grid parity.” Source: Jolywood (Taizhou) Solar Technology Co. Ltd.

LONGi Solar wins first place in TÜV Rheinland “PV Module Outdoor Power Generation” LONGi Solar won top place in the PV Module Outdoor Power Generation category at the 5th TÜV Rheinland “All Quality Matters” PV Congress inat Suzhou, China, on March 21. The company won the top spot this year after winning the “PV Module Power Generation Simulation” award for the previous two consecutive years.

APRIL 2019

Lv Jun, vice president of LONGi Solar said during his acceptance speech: “LONGi Solar has always insisted on creating superior products and services for customers. The prize comes from objective measurement, indicating the recognition of the high power generation capacity of our mono-crystalline modules. It not only facilitates customers to trust our products, but also strengthens our confidence and determination to continue developing high efficiency products.”

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featured

Facebook, Google, General Motors, Walmart and hundreds of other companies launch Renewable Energy Buyers Alliance, targeting 60 gigawatts of corporate renewables by 2025 Google, Facebook, General Motors and Walmart, along with over 300 other companies, launched the Renewable Energy Buyers Alliance (REBA) today—the largest group of corporate renewable energy buyers in the United States. By working to unlock the marketplace for organizations to buy renewable energy, REBA hopes to bring more than 60 gigawatts of new renewables online in United States by 2025.

ith offices in Washington, DC and Boulder, Colorado, the new membership organization will span diverse industries and businesses, whose leadership circle alone represents annual revenues of $1 trillion and over 1% of US annual electricity consumption (48 terawatt-hours).

Every enterprise—whether it’s a bakery, a big-box retailer, or a data center—should have an easy and direct path to buy clean energy. Ultimately, sourcing clean energy should be as simple as clicking a button,” said Michael Terrell, head of Energy Market Strategy, Google, and REBA’s first board chair. REBA’s vision of tomorrow’s energy marketplace is simple and powerful: a resilient carbon-free energy system where every organization has an easy and cost-effective path to buying renewable energy. Commercial and industrial energy users were responsible for more than 2 billion tons of greenhouse gases from energy use in 2018. Mitigating these emissions is part of the reason why over 70% of Fortune 100 companies have set greenhouse gas emissions reduction targets or renewable energy purchasing goals.

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Today’s REBA launch demonstrates that large energy buyers from across every sector are committed to doing their part to solve this problem,” said Rob Threlkeld, global manager, Sustainable Energy/Supply Reliability at General Motors. Membership is available to nonresidential energy buyers, clean energy developers and other service providers. The association aims to open energy markets and offer greater choice for corporate energy buyers, focusing on innovations in policy, markets and technology as well as educational training.

Never before has such a diverse group of organizations, from every industry, come together to form an association with a single, marketfocused, mission-driven vision of a zero-carbon energy future,” said REBA’s inaugural CEO and former US Air Force executive, Miranda Ballentine. REBA was originally founded in 2014 as a partnership between four NGOs—Rocky Mountain Institute, World Wildlife Fund, World Resources Institute, and Business for Social Responsibility. Source: Renewable Energy Buyers Alliance (REBA)

APRIL 2019

featured

Risen Energy: Securitization of Solar Assets Viewed as the New Trend in Solar Energy Financing On March 25, 2019, Risen Energy Co., Ltd. overseas investment and financing director Zhang Jieling attended the annual BNEF Summit in New York and presented the company’s new plans for solar energy financing in 2019.

Ms. Zhang said, “As the securitization of solar assets is on its way to becoming the next hotspot in solar project financing, Risen Energy is now actively planning the securitization and expect to begin the whole process in the fourth quarter of this year. Risen Energy’s core competences include more than a decade of experience worldwide as an independent power producer, overseas teams with international competitiveness, professional experience in project development, project financing, investment and EPC and more importantly, solid and reliable relationships with financial institutions across the world.”

hen commenting on the benefits of asset-backed securities (ABS), Ms. Zhang said, “Pooling the assets into securities allow the issuers to remove the specific assets from their balance sheet and also isolate investors from the group’s operational risk. In addition, ABS provides investors, who were exposed to only standardized assets, with access to a wider range of industry-related and business opportunities. These capital markets offer longer-term and lower-cost funds. The lower financing cost associated with ABS accelerates the reduction in the leverage cost of raising funds using energy assets and increases the competitiveness of PV power when compared with other types of energy.”

Ms. Zhang also shared Risen Energy’s future planning and its appeal to the capital markets, “Risen Energy will expand its solar projects in Australia, Latin America, the Middle East and Africa, as well as introduce our energy storage solutions into markets where the grid is relatively weak, helping the company enhance its industrial and international competitiveness across the solar energy value chain. We believe the addition of energy storage will be attractive to the capital markets, noting in particular that the majority of investors have seen that supplementing the PV system with an energy storage solution has increasingly become one of the key trends in the industry. We hope to expand our relationships with financial institutions with the aim of creating an effective leverage for our investments with lower-cost funds.” Risen Energy will be one of the first solar module manufacturers to put the idea of offering solar assetsbacked securities into practice. Source: Risen Energy Co., Ltd

APRIL 2019

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featured

Government blacklists Chinese solar gear company after failing to honour contract India plans to blacklist China Sunergy (CSUN), as the Chinese solar module supplier has failed to meet its contractual obligations with local project developers, new and renewable energy secretary Anand Kumar said. This is the first time that the ministry is considering such a step against a foreign solar equipment supplier. “We will soon issue an advisory to people not to buy from them, Kumar told ET.

The ministry is also planning to prepare a list of approved suppliers to shield Indian companies from the risk of dealing with unreliable suppliers, he said.

lmost 90% of solar cells and modules used in Indian projects are imported, the bulk of them from China. The CSUN Group is one of the leading Chinese manufacturers with a production capacity of 1.2 gigawatts. The company didn’t respond until press time Thursday to an email seeking comment. Solar project developers Acme Solar, RattanIndia and Refex Energy had complained to the ministry that CSUN had failed to honour contracts with them. According to a petition filed by Acme Solar at the International Arbitration Centre,Singapore, CSUN had agreed to supply it solar modules of an aggregate capacity of 30MW. Acme paid an advance of $2.95 million, which was about 30% of the purchase price or equal to the cost of 9MW of equipment. CSUN failed to dispatch 9W of modules by the agreed deadline, and did not return the advance either, it alleged. The Singapore arbitration court upheld Acme’s appeal.

“The risk which Indian developers carry is over dependence on Chinese manufacturers,” said a developer. “If you quote low tariffs and work with not so reliable suppliers, cases such as this could be the downside.” In an effort to reduce over dependence on Chinese equipment, India imposed a 25% safeguard duty on the import of solar panels and modules, mostly from China and Malaysia, from end-July 2018 for a year. It will be followed by a 20% duty for six months and 15% for another six. This has raised the cost of installing solar projects and consequently tariffs, but has not yet spurred any additional investment in local manufacturing.

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In a letter addressed to Kumar, dated March 13, Refex Energy also urged the ministry to deny the entry of CSUN’s modules to India. “We would request you to please take steps to blacklist the company in India, deny BIS certificate and not allow entry of their modules in India,” said the letter. Refex claimed it placed an order with CSUN for procurement of 40MW of capacity which CSUN defaulted on. It also did not return the advance ($1.12 million) paid by Refex either, it claimed. Yarrow Infrastructure, part of the RattanIndia Group, sent a similar letter to Kumar in February. “We request you to kindly direct the appropriate authority at Indian custom ports to hold back the custom clearance of the products being imported by CSUN into Indian territory so that no product of CSUN is allowed to enter Indian territory,” it said. The company claimed that it entered into an agreement with CSUN for supply of 20MW of modules out of which only 2.77MW was delivered. ET has seen copies of the letters from Refex and RattanIndia. The ministry is in the process of preparing an approved list of solar equipment manufacturers globally which it hopes will help Indian developers choose prudently. “The list will be operationalised by March next year,” Kumar said. Source: economictimes.indiatimes

APRIL 2019

featured

Anti-dumping duty on Ethylene Vinyl Acetate sheet for Solar Module Seeks to impose definitive anti-dumping duty on ‘Ethylene Vinyl Acetate (EVA) sheet for Solar Module’, originating in or exported from China PR, Malaysia, Saudi Arabia and Thailand GOVERNMENT OF INDIA, MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 15/2019-Customs (ADD)

hereas, in the matter of import of ‘Ethylene Vinyl Acetate (EVA)’ Sheet for Solar Module (hereinafter referred to as the subject goods) falling under the sub-headings 3901 30, 3920 10, 3920 62, 3920 99 and 3921 90 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act), originating in or exported from China PR, Malaysia, Saudi Arabia, and Thailand (hereinafter referred to as the subject countries), and imported into India, the designated authority in its final findings vide notification No. 6/9/20 18-DGAD, dated the 21st February, 2019 published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 21st February, 2019, has come to the conclusion that“Imposition of duty is required to offset dumping and injury caused by dumped imports from China PR, Malaysia, Saudi Arabia, and Thailand. However, having found that the volume of imports from South Korea was below de-minimus level during the POI it is appropriate to terminate the investigation against South Korea in terms of Rule 14(d).” And has recommended the imposition of definitive anti-dumping duty on the imports of subject goods, originating in or exported from the subject countries and imported into India, in order to remove injury to the domestic industry. Now, therefore, in exercise of the powers conferred by sub-sections (1) and (5) of section 9A of the Customs Tariff Act, read with rules 18 and 20 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government, after considering the aforesaid final findings of the designated authority, hereby imposes on the subject goods, the description of which is specified in column (3) of the Table below, falling under sub-headings of the First Schedule to the Customs Tariff Act as specified in the corresponding entry in column (2), originating in and exported from the countries as specified in the corresponding entry in column (4), produced by the producers as specified in the corresponding entry in column (5) and imported into India, an anti-dumping duty at the rate equal to the amount as specified in the corresponding entry in column (6), in the currency and per unit of measurement specified in the corresponding entry in column (7) of the said Table:-

APRIL 2019

The anti-dumping duty imposed shall be effective for a period of five years (unless revoked, superseded or amended earlier) from the date of publication of this notification in the Official Gazette and shall be payable in Indian currency. Explanation.- For the purposes of this notification, rate of exchange applicable for the purposes of calculation of such anti-dumping duty shall be the rate which is specified in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), issued from time to time, in exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and the relevant date for the determination of the rate of exchange shall be the date of presentation of the bill of entry under section 46 of the said Customs Act.

Source: taxguru.in

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SLDC cannot curtail renewable power at convenience, says TNERC In a significant move for the energy sector, the Tamil Nadu Electricity Regulatory Commission (TNERC) has stated that State Load Dispatch Centre (SLDC) cannot curtail renewable power at their convenience, adding that backing down of the “Must Run Status power shall be resorted to only after exhausting all other possible means of achieving and ensuring grid stability and reliable power supply.

NERC outlined these findings after noting the submissions of the petitioner and respondents in a petition filed regarding stopping of issuance of backing down or curtailment instructions to solar projects as the backing down is causing huge losses to the solar developers almost on daily basis.

“The backing down data furnished by the petitioners has not been disputed by the respondents. However, they were not able to explain the reason prevailing at each time of backing down beyond the general statements. It gives rise to a suspicion that the backing down instructions were not solely for the purpose of ensuring grid safety,” the regulatory commission observed.

The commission also stated that it is necessary to direct the SLDC to ensure evacuation of the solar power generations connected to the state grid to the fullest possible extent, truly recognising the Must Run Status assigned to it in full spirit. “In doing so, in view of the problems enumerated supra, the SLDC may resort to backing down in rare occasions in order to ensure the grid safety as stipulated in the Grid Code and to ensure reliable 24 x 7 power supply to the State. It is necessary to log each event of backing down whenever such instructions are issued with the reason(s) which lead(s) to that unavoidable decision. A quarterly return on the curtailments with the reasons shall be sent to the Commission. Any whimsical backing down instructions would attract penal action under section 142 of the Electricity Act on the officials concerned”, read the order issued by the TNERC. Source: ANI

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APRIL 2019

ELECTRIC VEHICLES

Fortum to power India’s electric vehicles, plans 700 charging points Fortum, one of the world’s leading clean energy companies, is eyeing a signal role in powering a wide fleet of electric vehicles (EVs) on Indian roads.

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ith a dominant presence in Nordic countries and the Baltic region, Russia and Poland, Fortum is looking to deepen presence in India by building on its network of charging points for EVs. Fortum India which has already operationalized 36 direct current (DC), unmanned points in the suburbs of Hyderabad and Mumbai, is aiming to ramp up this network to 700 by 2020.

We are constantly evaluating the Indian market for charging infrastructure. On our radar are the advanced cities with higher per capita incomes and people with greater disposable incomes. So, in addition to Hyderabad and Mumbai, we are looking at cities like Delhi, Chennai, Bengaluru, Chandigarh and Pune”, said Awadesh Jha, vice president (charge & drive and sustainability), Fortum India.

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ELECTRIC VEHICLES He refused to share figures on investments already sunk in or those in the pipeline. Fortum is among the pioneers in EV charging. It boasts of 3000 smart chargers in Nordic countries, thirty per cent of them being DC quick chargers. Beginning with a pilot in October 2017, Fortum marked its foray into the EV charging market in India. Before setting off on the EV charging business, Fortum started its India activity in 2012 with the takeover of 5 Mw solar power project in Rajasthan. It has grown staggeringly since then with a portfolio of 685 Mw solar power projects- 185 Mw operative and the residual 500 Mw under implementation. Fortum has also forged a joint venture with Numaligarh Refinery Ltd along with Chempolis for installing a bio-refinery plant. “We intend to manufacture ethanol from bamboo. To cut down on emissions, the government has plans to blend a certain percentage of ethanol with petrol and diesel”, Jha said.

Turning to EVs, he said, the Indian market offers immense possibilities with Tata and Mahindra already rolling out their models. “In India, the EVs unveiled so far are low voltage vehicles as opposed to Europe and Japan where the vehicles need higher capacity charging. Towards the middle of this year, we are expecting more EV launches from the higher end OEMs (Original Equipment Manufacturers)”. According to Jha, the EV charging ecosystem in India is dotted with numerous players but the space is headed for consolidation in the long term along the lines of the telecom sector. “India is a market where competition is huge. But we are not looking at competition, our thrust is on collaboration”, he added. He feels the Government of India’s second phase of Faster Adoption & Manufacturing of Electric & Hybrid Vehicles (FAME) will give an impetus to e-mobility. “It is a welcome step to see the focus on creating charging infrastructure for enabling adoption of e-mobility. Though details of modalities of scheme is not known, we expect that private charge point operators will get the opportunity to participate in creating charging infrastructure through this scheme. Additionally, FAME-II has provided support for vehicles fitted with Li-ion based battery that have the potential to scale up particularly for high performance and high range vehicles”, said Jha. Source: business-standard

Electric Vehicles: GoZero Mobility to foray into Indian market with two products British electric bike and lifestyle brand GoZero Mobility will enter Indian market next week with the launch of two products. The Birmingham-based firm will launch two electric bikes — One and Mile — in Delhi-NCR next week. It has tied up with Kolkata-based Kirti Solar to develop and manufacture current range as well as for future products.

With the significant focus by the Government of India towards electric mobility, especially two-wheelers, we see this as an appropriate time for us to be here,” GoZero Mobility Chief Executive Officer Ankit Kumar said in statement. GoZero is determined to offer products with optimum performance and create a green-way to commute, he added.

he company’s GoZero One is powered with 400Wh lithium battery pack which is optimised to provide 60 km of range on single charge, while GoZero Mile is powered with 300Wh lithium battery pack which provides 45 km range. GoZero will also launch its signature range of lifestyle merchandise designed in the UK, which includes sweat shirts, jackets, belts, and wallets, among other products.

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Commenting on the company’s partnership with Kirti Solar Ltd, Kumar said, “The company brings in a lot of expertise on board in the areas of manufacturing and distribution and we shall work together to create more products for different consumer segments.” Source: PTI

APRIL 2019

ELECTRIC VEHICLES

FAME-II: Govt sets up inter-ministerial panel for monitoring, sanctioning of projects The government has constituted an inter-ministerial panel for monitoring, sanctioning and implementation of projects under the Rs 10,000-crore FAME-II programme, aimed at incentivising clean mobility.

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he Project Implementation and Sanctioning Committee will be chaired by the secretary in the Department of Heavy Industries and will have other members including NITI Aayog CEO, Department for Promotion of Industry and Internal Trade secretary, Department of Economic Affairs secretary and secretaries in the power and new and renewable energy ministry, among others. The Department of Heavy Industries, in an order, said the committee is constituted “for the purpose of overall monitoring, sanctioning and implementation of the scheme, with immediate effect and until further orders”. The panel’s terms of reference includes modifying coverage parameters for various components and sub-components of the scheme, reviewing demand incentives annually or earlier based on price and technology trends, modifying limits of fund allocations among different segments and types of vehicles, reviewing the cap for maximum incentive per vehicle, and deciding other scheme parameters for its smooth roll out. The Rs 10,000-crore programme under the second phase of the FAME India scheme will be implemented over a period of three years with effect from April 1, 2019. Under phase-II of Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) scheme, 10 lakh registered electric two-wheelers with a maximum ex-factory price will be

APRIL 2019

eligible to avail incentive of Rs 20,000 each. It will also support 5 lakh e-rickshaws having ex-factory price of up to Rs 5 lakh with an incentive of Rs 50,000 each. FAME-II will offer an incentive of Rs 1.5 lakh each to 35,000 electric four-wheelers with an ex-factory price of up to Rs 15 lakh, and incentive of Rs 13,000 each to 20,000 strong hybrid four-wheelers with ex-factory price of upto Rs 15 lakh. It will support 7,090 e-buses with an incentive of up to Rs 50 lakh each having ex-factory price of upto Rs 2 crore. The scheme will have a Rs 1,500-crore outlay in 2019-20; Rs 5,000 crore in 2020-21 and Rs 3,500 crore in 2021-22. It will cover buses with EV technology; electric, plug-in hybrid and strong hybrid four wheelers; electric three-wheelers including e-rickshaws and electric two-wheelers. FAME-II also proposes support for setting up of charging infrastructure whereby about 2,700 charging stations will be set up in metropolitan cities, other million-plus cities, smart cities and cities of hilly states across India. Source: PTI

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SOLAR PROJECTS

Orb Energy completes the first grid connected rooftop solar system in Goa for Gomantak Ayurved Mahavidyalaya institute Orb Energy (“Orb”) announced that it has successfully installed and commissioned a 30 kilowatt rooftop solar system at Gomantak Ayurved Mahavidyalaya and Research Centre, established in 1993 with the objective of providing quality education in Ayurveda. Orb’s rooftop solar system will generate over 50 thousand units per annum of clean electricity, helping the institute significantly reduce their electricity costs.

We are extremely pleased that Gomantak Ayurved Mahavidyalaya and Research Centre has selected Orb to design, supply, and install their 30 kilowatt rooftop solar system. We are also proud to announce that this is the first rooftop solar system synchronized since the Goa government’s net metering policy came in to effect.” said Damian Miller, Orb’s Chief Executive Officer.

rb’s rooftop solar systems provide commercial, industrial and institutional customers a three- to four-year payback without any subsidy – an unheard-of return on investment on an unsubsidized solar power system. Because many businesses and institutions in India can only afford rooftop solar with finance, Orb offers a collateral-free solar loan that matches the payback period – after which all their power from solar is effectively free.

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This institute was started with a foresight that investment in education and health can transform India into a developed nation. The Gomantak Ayurveda Mahavidyalaya and Research Centre is committed to providing its students an unparalleled educational experience in Ayurveda through excellent teaching and clinical experience. To achieve the institute’s objectives and reach more students, it is important for us to reduce our operational overheads and one of the ways to achieve this is to bring down our electricity costs and also support green energy. Thanks to Orb, we currently expect to produce an average of approximately 50,400 units of clean solar electricity per year, and expect to save around INR 1.5 lakhs per annum in electricity costs.” said Mr. P K Ghate, President, Gomantak Ayurved Mahavidyalaya & Research Centre. Source: orbenergy

APRIL 2019

SOLAR PROJECTS

Azure Power Puts Over 500 MWs of Solar Power Projects Into Operations in FY19 - Azure Power’s total operational portfolio now over 1,400 MWs, one of the largest for a solar company in India - Commissioned over 250 MWs during the current quarter, among the highest installations by a company in this period - Utility-scale projects commissioned ahead of schedule - Azure Power’s operational capacity in Gujarat now over 270 MWs, largest in the state by a single company

zure Power, a leading solar power producer in India, announced it has commissioned a cumulative capacity of over 500 MWs since last fiscal year, bringing the company’s total operational portfolio to over 1,400 MWs, one of the largest solar portfolios in India. Over the past three months, Azure Power has commissioned over 250 MWs, among the highest installations by a company in this period. All utility-scale projects commissioned since the past fiscal year were commissioned ahead of schedule. Recent commissioning of projects include the final phase of a 260 MW solar project in Gujarat and a 100 MW solar project in Karnataka. With the commissioning of these projects, Azure Power’s operational capacity in Gujarat is now over 270 MWs, largest in the state. The 260 MW project was won in an auction conducted by Gujarat Urja Vikas Nigam Ltd (GUVNL), rated AA- by ICRA, a Moody’s company, and has been developed outside a solar park. Azure Power will provide power to GUVNL for 25 years at a tariff of INR 2.67 (~US 3.9 cents) per kWh, which is 8.6% higher than the lowest bid in the market. The 100 MW project was won in an auction conducted by Karnataka Renewable Energy Development Ltd. and has been set up at Pavagada Solar Park, one of the largest solar parks in the world. The solar park is being developed by Karnataka Solar Power Development Corporation Limited (KSPCL). Azure Power will supply power to the electricity supply companies of Karnataka (ESCOMs) for 25 years at a tariff of INR 2.93 (~US 4.6 cents) per kWh, which is 20.1% higher than the lowest bid in the market. Earlier this fiscal year, Azure Power had commissioned a 40 MW project in Uttar Pradesh and a 50 MW project in Andhra Pradesh and over 60 MWs of solar rooftop projects.

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Speaking on this occasion, Mr Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer, Azure Power, said, “We are pleased to have commissioned over 250 MWs during the current quarter. Our ability to complete projects ahead of schedule and at scale is a testament to our efficiency and reliability as a trusted solar power producer. We continue to demonstrate our strong project development, engineering, and execution capabilities and are delighted to make this contribution towards realization of our Hon’ble Prime Minister’s commitment towards clean and green energy, through solar power generation. Source: Azure Power

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exclusive interview

In Exclusive Talk With Mytrah Energy Chief Ravi Kailas

EQ: Your vision was to build 5 Gw of renewable energy projects in India. What do you think of that goal today?

RK : I think it will be greater than that. When we started in 2010, the total industry size was 10 Gw. At that time, the industry outlook was that we wilkl grow from 10 Gw to 30 Gw in 4-5 years. Now we’re talking about 300 or 400 Gw of capacity. We may achieve 100 Gw, which is still thrice our expectation a few years ago. So over the time our vision and ambition will grow along with the rest of the industry too. When we began our journey, the average ownership size was less than 1 Mw. We were the first players to say we want to build big scale and create an industry out of it, because until then, almost all the players received finances on parent balance sheets. We had over 3,000 owners of that 10 Gw as it was purely an accelerated depreciation-based business. One aim was to create scale and second was to create a different business model. We succeeded in both. We created a fairly unique business model in which we were involved in almost all aspects of the projects. We have also been unique in the sense that we are now probably one of the largest privately-owned companies, unlike most of our peers. We have no significant external shareholders, Our sponsors own almost 95 per cent of the company. It also allowed to take a lot of entrepreneurial decisions. We are still in an entrepreneurial phase. The industry still not yet resolved some basic issues.

EQ: Has profitability been a constraint to rapid growth in renewable energy?

RK : We have almost 42 different projects now — about 17-20 wind projects and 20 solar sites. I don’t think there is a single project where we have under-performed in terms of generation and revenues. Our projects are extremely profitable. In the nine years since we started, we have not defaulted on one debt repayment, which is unique in the infrastructure industry in India. We have dealt with 30 banks and have drawn and repaid Rs 15,000 crore. The past two years have been very different but the idea that we should have a significant share of the incremental assets built still holds good.

APRIL 2019

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exclusive interview

EQ: Power availability has gone up in certain regions and some states are now counted as power surplus. Has the recent slowdown got anything to do with this changed supply-demand equation?

RK : When you are power surplus, you have more power than you have contracted. It doesn’t mean you are surplus to the society’s needs. The actual demand for power is far greater than where we are today. It is hard for us to even imagine how much more power we require. We need another 1,000 Gw to satisfy current demand, not the future demand. I would say the industry is poised for the biggest growth ever in the next 5-10 years, more than the past 5-7 years. Industry has slowed down for a few reasons, Those who bid low were not able to get debt. If the project viability is in question or if you have difficulties in realising your dues, then lenders say they want more cushion in terms of debt:equity ratio. Now the last few sanctions have come at 50:50. Who will put 50:50 equity if you don’t get that kind of return? Also, the lending in India has been constrained the past one year as we have an almost nonexistent debt capital market.

EQ: How is the industry coping with the power dues then?

RK : Our cycle with the discoms is they have to pay us in 35-45 days. If they pay after one year what do you do? So, industry had no recourse against its only counterparty. Not only do you not have any choice, you have no choice for 25 years (PPA period), unless the counterparty is held accountable. There are cases already where people have not been paid for 18 months. If the whole industry is not going to get paid then it has larger implications than simply thinking of those 5-10 companies. It is also a serious issue facing the banking system, because a large part of the lending book in India

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is energy. Receivables have become so large — almost Rs 35,000-45000 crore, now. The Central electricity regulator is acting on these and other issues.

EQ: Has this situation impacted the repayment ability of renewable energy firms?

RK : We have been able to service the loans because renewables fortunately are high EBITDA margin — as high as 90 per cent. Which means even if you are paid a little bit late, you can repay. But you are using cash that you would have used traditionally for building new projects, to service these loans. So it has given some cushion for the industry, but it won’t protect if people remain extremely aggressive. But overall as an industry I would say it has had one of the least defaults for almost 25 years.

EQ: Will the industry be able to strike a balance between competition and viability in future auctions?

RK : Over the past six months the prices have been trending up but this Rs 2.80-Rs 2.90 that they are achieving in auction is still not viable enough. We need at least over Rs 3 or Rs 3.20. Half the bids in the past six months have been cancelled because there were no bidders. If the policy makers don’t keep a vision beyond the lowest price of power, industry can not sustain.

EQ: States like Andhra Pradesh are seeking revision of renewable energy PPAs, citing lower prices quoted by the same developers in the auctions. How do you view this development?

RK : I think it is fundamentally unfair. You have every right to say in future I am not going to give any more contracts but you can’t go back and change with retrospective effect. It was not only a party-to-party contract but was considered as a contract with

the state based on which the projects were funded. It is a contract based on a particular moment — based on your financing conditions at that time and these are not small amounts. You are talking of Rs 40,000 crore of investment in Andhra where you are saying, ‘no, no, can we please renegotiate!’. If this becomes the norm then the industry will suffer. We will have power cuts. We don’t have growth in thermal energy, and large-scale hydro is almost impossible in India. Renewable is just growing. A little bud has grown, you can cut it. Luckily the courts have completely ruled against it. The CERC has written very strongly saying that this makes no sense to the state also.

EQ: Everybody starts private and then goes for an IPO, but in Mytrah’s case it was the opposite. You withdrew listing on London Stock Exchange and then decided not to go for an IPO India despite toying with that option till recently. Any particular reason for this?

RK: This is to do with market conditions, I must say. If you see the Indian market, still there is no large renewable play because of the same reasons and the same issues we were talking about. Its easier for more sofisticated private investors to take a longer term bet on the industry. It is difficult for a retail investor to understand the complexity of issues involved here. May be after this elections or after some of the other regulatory changes that have already been in the pipeline come into place, I think we will see a lot more IPOs come into place in India. Also the other difference was that we wanted to get to a certain scale. We are grazing new capital to accelerate our growth. We don’t think we have been constrained because of lack of capital. Our growth has been constrained by our ability to execute and by what is happening in our environment and our risk mitigation conditions.

APRIL 2019

exclusive interview

In Exclusive Talk With Artha Energy Resources Managing Partner

Animesh Damani EQ: What are the biggest challenges/threats to the growth of RESCO in India. and What are the opportunities, challenges, risks in investing in RESCO Projects

AD : The solar sector in India is at a very nascent stage. There has been an increased awareness in the sector with regards to its technology, benefits and the savings it generates. However, if we look at the growth of solar in India it is not uniformly distributed across the country. On one end we are successfully able to build utility-scale projects at record low prices that even global players at times find it extremely competitive. However, on the other hand, solar as a technology and a source of power for commercial and industrial users have still been slow to pick up. The biggest reason why commercial and industrial users havenâ&#x20AC;&#x2122;t been able to pick up solar on a very large scale is that; 1. The initial capital investment in solar is very high 2. The government compliance and liasioning to get approvals is an extremely cumbersome process costing at times up to 10% of the project cost, making ita very expensive process 3. A lot of industries are not able to understand the technology and therefore are inherentlyapprehensive about the investment paying off. Additionally, the fact that there are so many options to choose from when it comes to panels, invertors or EPC contractors leaves the industrialists confused. Most of these issues can be resolved when a commercial or industrial user adopts a RESCO solar model for the project on its unit. In a RESCO model, an investor bears the cost of the plant and supplies electricity to the industry at a low tariff rate. However, when developers are evaluating the financial profiles of industries on which the plant is set up for investments, most of them tend to find that either the company is financially very weak or there is an extremely low expectation of tariff rates. Companies with weak financials, find it hard to get investors and there is a lack of understanding on the consumer side for the need of strong project securities towards the investor. Companies with strong financials tend to adopt a relentless focus on getting

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exclusive interview - the lowest tariff rate without paying attention to the quality of the system being installed, background and previous work of the developer as well as safeguards to ensure the sustainability of savings over the life of the asset. Also, the expectation of lower tariff rates forces developers to use sub-par materials and tactics that are not feasible over the life of the asset, which causes disputes between the developer and the consumer in the long run due to unmet expectations. Another growing threat is the way developers are selling RE projects to potential investors. What we have observed is that developers are playing on the greed of the investors who are looking to achieve above industry norm returns. It is a well-known fact that the power sector generates a return of 14-16 %. However, developers are pitching projects to new investors with 20% or as high as 28% returns. I find investors becoming gullible to such high returns without questioning the model and the numbers behind it. This leads to first-time investors having a bad experience which restricts them from making further investments as well as spreading negativity around it. Furthermore, the residential solar has also not picked up positively in the country because the majority of large consumers from the residential perspective belong in the tier 1 cities and these consumers live in flats as opposed to bungalows. By this virtue, the decision to set up a rooftop plant depends on the management of the society which hinders/delays the final decision to set up the plant. In cities where bungalows are a preferred mode of accommodation, the bigger concern comes around the feasibility of these bungalows with respect to their location and surrounding that make them unsuitable for a rooftop setup eg. Shadows cast on the roof due to the low height of the bungalows that are surrounded by trees and high-rise buildings and structures, etc.

EQ: What are the biggest challenges/ threats to the growth of RESCO in India. and What are the opportunities, challenges, risks in investing in RESCO Projects

AD : The government has done negligible work to promote RESCO projects to date. The only RESCO projects being promoted by the government are those in which the government is the consumer themselves. Overlooking the fact that the majority of market share lies in the hands of the private sector. To overcome this challenge and to attract retail investment, the government should consider giving benefits in the form of tax relaxation for those willing to set up RESCO plants. Additionally, they can set up a model where the solar electricity bill from these plants can be tied up with the electricity bill that comes from the utility companies. Usually, consumers pay their electricity bills to avoid power cuts. By combining these bills, the government can ensure that the consumers pay back investors’ money as well. Such a plan will open the market for retail investors and domestic HNIs. Additionally, companies with weak financials will get a varied range of investors to fund their RESCO installations.

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EQ: What are the real challenges you face building a project with respect to Land, Logistics, Customs, Grid Connection, Manpower resources, etc

AD : The biggest challenge faced by the RESCO players is that the state wise policies are unclear and loosely worded. Moreover, the lack of consistency for the recognition of RESCO in different states leaves the developer with limited states to focus on. To add to this, each state has its own set of policies when it comes to treatment of RESCO projects. For eg. in Gujarat companies with RESCO projects are not permitted for net metering, while other states in the country have no such restrictions. All these artificial barriers including the higher cost of net metering approvals, lack of streamlined online process that is put into place, lack of online features that automatically take the process offline thus delaying it, etc. hinder the interest of investors in this model.

EQ: Kindly enlighten on “Energy Storage as Game Changer” Technology & Cost Trends, Incentives, and Government Support needed

AD : We view energy storage primarily through two prisms, one is the opportunity of attaining a global edge in the production of energy storage devices and technologies while the other angle is the immediate application of energy storage. 1. It’s a fact that energy storage is a technology of the near future. We will achieve large scale commercial viability within this decade. Currently, there is a need gap for a lot of research and development that needs to be done for energy storage to become commercially viable. India can take the global lead in encouraging innovation and provide a supportive policy regime for the set-up of the battery manufacturing industries across the country. It can become a key pillar of the“Make in India” initiative. This is an industry, wherein as a country, weshould ensure global leadership before another country attains that edge. 2. The largest consumer of energy storage devices will be the automobile sector. Globally, all of the large automobile manufacturers have announced the death of internal combustion engines with a focus to convert its entire production to EV by 2030. 3. Energy storage will immensely help solar and wind convert to a firmpower source, which will help address fluctuations in generation output, peaking power requirements and undesirable effects on the grid caused due to the increased weight of the infirm power in the energy mix.Storage can ensure excess generation during peak period is stored to deliver a stable output during nonpeak periods.This will ensure a smooth flow in the grid. 4. Energy storage will be a key element in micro-grids. Micro-grids are typically located in remote areas where the cost of delivering energy is very high. Storage will enable stability in a micro-grid and ensure efficient supply and availability.

APRIL 2019

exclusive interview EQ: The financial health of DISCOMS is a concern for Bankability of Solar Project. How to overcome this challenge and What are the Financing challenges, PPA, Land, etc AD :

- the invoices raised thereby offering no alternative to the power generating company to rack up more debt. Hence, in order to improve the bankability of solar projects with discoms,we must ensure that the financial health of the discoms is restored over the medium term. In the short term, the involvement of IREDA, PTC, and REC should be looked at for discounting of invoices raised to discoms.

EQ: What are the expectations from RBI, Finance Ministry and MNRE for the betterment of financing of RESCO solar projects

AD : The biggest challenge faced by RESCO developers is that their PPA’s are not funded by the banks. Banks in today’s time are clearly more comfortable in supporting the top players to get bigger. While the smaller developers struggle to raise finance and are forced to put their savings as collaterals to get funds for these projects. The lack of support from banks and the burden of additional collateral along with lack of facilities like bill discounting, etc demotivates the retail investor to set foot in the renewable sector. That being said, there needs to be a focus on the smaller developers. Thirty-eight GW of the forty GW envisioned is still to be set up in terms of rooftop solar. The reason for the slowpick up of this segment is lack of support and focus toward it. All the government has done is given subsidies which are not enough and that have clearly not worked in the developer's favor. The only way rooftop can grow is through RESCO for commercial and industrial consumers. This is only possible if we allow certain leverage to the RESCO developers through either policies, financing or depreciation benefits.

EQ: In Private PPA market. What is your view on the PPA Risk and the way forward?

83% of Indian state discoms have a credit rating below “Junk” status with only 7 statediscoms commanding a credit rating of A or higher. The poor financial health of the discoms spills over to the entire power sector causing a burden on generators and consumers alike. Discoms are known to have an average payable of over 500 days to power generation companies. Hence, generators face large working capital requirements to service debt and other obligations inherently reducing their own financial viability. Given the poor credit rating of these discoms, banks are reluctant to discount

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AD : I think the private PPA market is the best segment to be in today. The simple reason for this is that the investment per project is much smaller in comparison to the utility-scale projects. Hence, an investor can distribute his risk over multiple projects. RESCO provides a stable monthly cash flow for investors which is more prompt in comparison to the government payback time. Most importantly, for a private PPA to function there is a dire need of trust between both the parties. And with India being a high network and relations driven society it becomes easier for us to get a sense of the promoter’s credibility in the market. The policy risk is extremely low simply because we are not using the grid since the power is produced and consumed at the same time. However, the purely commercial nature of these transactions carries a high counter-party risk i.e. one to one. And the only option to resolve it would be via court which can be a lengthy option.

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opinion

Providing level playing field to Units manufacturing “Solar cells whether or not assembled in modules” in Domestic Tariff Area (DTA) vis a vis those manufacturing these Devices in SEZ. - Regarding Letter to Shri Narendra Modi, Hon’ble Prime Minister of India

Manish Gupta

President, North India Module Manufacturing Association We, North India Module Manufacturer Association (NIMMA) is a non-profit business organization set up under the Societies Registration Act, 1860. NIMMA is an umbrella association for solar module manufacturers in Domestic Tariff Area (DTA). We are trying to fulfill “Make In India” dream of our honorable Prime Minister Shree Narendra Modi to become independent in Solar PV Module manufacturing in our country. In respect of total market share of these goods produced indigenously, around 90% of the companies that are manufacturing these goods, are located in the DTA and only 10% are in Special Economic Zones (SEZ). More than 90% manufacturing units available in DTA are SME/ MSMEand units in SEZ are all large group companies like Adani, Waaree, Vikram etc.

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We are extremely grateful to Government of India, for imposing Safeguard Duty on the imports of “Solar cells whether or not assembled in modules” vide Ministry of Finance Notification No. 01/2018-Customs (SG), Dated 30thJuly, 2018 and for Textured Toughened (Tempered) Glass Notification No. 38/2017-Customs (ADD) dated 18th August 2017to save the indigenous manufactures from unfair trade practices being followed by the foreign manufacturers/suppliers. Sir, this representation is in respect of the disadvantage in the form of benefits & tax incentives given to SEZ Units on the raw materials, components, consumables and services on all inputs, vis a vis by units in the DTA. SEZ units are selling solar modules in domestic market by exploiting the benefits passed on to SEZ units.

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opinion

Whereas the supply of “Solar cells whether or not assembled in modules” from SEZ units into the domestic area is concerned, SEZ units have an unfair advantage over DTA units. Our pinching points are as follows: 1.1 For promotion of exports, all SEZ Units enjoy fiscal / non-fiscal benefits extended by the government. SEZ units are meant for promoting the export of goods and not for competing with & killing the DTA units by such undue tax benefits. While SEZ units get all the raw materials without payment of any duties/taxes, DTA units have to pay heavy duties/taxes on such raw materials. 1.2 In our case all manufacturing unit located in SEZ through out the India enjoying all import tax, safeguard duty and anti dumping duty benefits against DTA units but you can check from any where these SEZ units supply their finished goods solar modules to local India market without paying any duty. 1.3 There are no duties on the supply of electricity to SEZ units. If they are exporting their goods, it is good for the country, but, if they sell in DTA then it becomes unfair for DTA units to compete in the domestic market as all DTA units are paying the duty on the purchase of electricity. 1.4 Whereas domestic clearances are concerned, it is requested that SEZ units should be subjected to same rates of import duty including Safeguard Duty or Anti-dumping Duty on inputs to which DTA units are subjected to. 1.5 In addition, unit in DTA, though entitled to take input tax credit, will be paying GST on the goods required for manufacture of Solar cells whether or not assembled in modulesat the time of import only, there is always a time lag between the time of import and use of the imported material for manufacturing activity and supply of finished goods.

This time lag attracts finance cost for DTA (on the CC/OD facilities taken from banks) Payment of GST on the goods at the time of import adds to cost in form of capital investment and interest. Therefore, the manufacturing cost of SEZ units is far less than the units in DTA. 1.6 The price difference further increases if we take the anti-dumping duty imposed on solar glass for DTA units whereas there is no such duty is levied on SEZ units. As per our information, SEZ units are clearing their products in DTA without paying the obligatory Anti-Dumping Duty. 1.7 The price difference increases still further if we take the Safeguard Duty on solar cells which is levied on DTA units. As you may be aware that recently a SGD @25% has been imposed on Solar cells whether or not assembled in modules. 1.8 If you are not providing level playing field to all DTA units against SEZ units then DTA units cannot survive in market and going to stop their manufacturing facility.There is a large workforce employed with DTA units. The said anomaly in duty structures will not only place DTA units in disadvantageous position but will also make them economically unviable leading to financial loss, closure and putting livelihood of these people in jeopardy.

Sir, below is a comparison between DTA and SEZ units clearly showing the disadvantages the DTA units have: Sr. Description / No. Head

SEZ

DTA

Remarks / Interpretation

Property Tax

Yes

Cost advantage for SEZ

Capital Purchases

Exempted

Taxed

Cost advantage for SEZ

Electricity Duty

Yes

Cost advantage for SEZ

Taxation on Bank Charges

Yes

Cost advantage for SEZ

All Inputs – Goods & Services

Exempted

Taxed

Cost advantage for SEZ

Income Tax

Exempted

Taxed

100% IT Exemption for 5 years to SEZ. Exemption continues in the ensuring years at lesser percentage.

Foreign Direct Investment

Yes

100% FDI allowed under automatic route

External Com-

Allowed

Restricted

ECB by SEZ units up to $500 million a year allowed without any maturity restrictions.

mercial Borrowings (ECB)

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Despite getting all benefits,SEZ Units already have an advantageous position and by extending exemption in safeguard duty (SGD) too, SEZ units will lead to disaster for units in DTA. This would ultimately hamper our Primes Minster Sh. Narendra Modi’s dream of ‘Make in India’. This dream can only be realized through domestic manufacturing, and, not giving unfair advantage to units which are actually meant to increase foreign trade. Sir, as recommended in Final Findings referring the Ministry of Finance Notification No. 01/2018-Customs (SG), Dated 30th July, 2018and for Textured Toughened (Tempered) Glass Notification No. 38/2017-Customs (ADD) dated 18th August 2017we wish to emphasize that SEZ units are meant for promoting the export of goods and not for competing with & killing the DTA units by such undue benefits. And, now, SEZ units have requested the government to get exempted from the safe guard duty. This would add salt to the injury for DTA units. DTA units are in desperate need of government support and encouragement in the over-all interest of the nation for the reasons we have elaborated above. It is our humble prayer that all our inputs as well as final products may be exempted from all taxation and bring DTA units at par with SEZ units in order to make such goods easily accessible and affordable to common man and provide our members a level playing field vis a vis unit manufacturing these goods in SEZ.

APRIL 2019

Research

BATTERY POWER’S LATEST PLUNGE IN COSTS THREATENS COAL, GAS Lithium-ion batteries and offshore wind both see dramatic gains in competitiveness during the last year compared to longer-established energy options. Two technologies that were immature and expensive only a few years ago but are now at the center of the unfolding lowcarbon energy transition have seen spectacular gains in cost-competitiveness in the last year. The latest analysis by research company BloombergNEF (BNEF) shows that the benchmark levelized cost of electricity,[1] or LCOE, for lithium-ion batteries has fallen 35% to $187 per megawatt-hour since the first half of 2018. Meanwhile, the benchmark LCOE for offshore wind has tumbled by 24%.

he most striking finding in this LCOE Update, for the first-half of 2019, is on the cost improvements in lithium-ion batteries. These are opening up new opportunities for them to balance a renewables-heavy generation mix. Batteries co-located with solar or wind projects are starting to compete, in many markets and without subsidy, with coal- and gas-fired generation for the provision of ‘dispatchable power’ that can be delivered whenever the grid needs it (as opposed to only when the wind is blowing, or the sun is shining). Electricity demand is subject to pronounced peaks and lows inter-day. Meeting the peaks has previously been the preserve of technologies such as open-cycle gas turbines and gas reciprocating engines, but these are now facing competition from batteries with anything from one to four hours of energy storage, according to the report.

lena Giannakopoulou, head of energy economics at BNEF, commented: “Looking back over this decade, there have been staggering improvements in the cost-competitiveness of these low-carbon options, thanks to technology innovation, economies of scale, stiff price competition and manufacturing experience. “Our analysis shows that the LCOE per megawatt-hour for onshore wind, solar PV and offshore wind have fallen by 49%, 84% and 56% respectively since 2010. That for lithium-ion battery storage has dropped by 76% since 2012, based on recent project costs and historical battery pack prices.” sharp reductions in capital costs, taking BNEF’s global benchmark for this technology below $100 per MWh, compared to more than $220 just five years ago. Giannakopoulou said: “The low prices promised by offshore wind tenders throughout Europe are now materializing, with several high-profile projects reaching financial close in recent months. Its cost decline in the last six months is the sharpest we have seen for any technology.” Although the LCOE of solar PV has fallen 18% in the last year, the great majority of that decline happened in the third quarter of 2018, when a shift in Chinese policy caused there to be a huge global supply glut of modules, rather than over the most recent months.

Global LCOE benchmarks – PV, wind and batteries LCOE measures the all-in expense of producing a MWh of electricity from a new project, taking into account the costs of development, construction and equipment, financing, feedstock, operation and maintenance.

Tifenn Brandily, energy economics analyst at BNEF, said: “Solar PV and onshore wind have won the race to be the cheapest sources of new ‘bulk generation’ in most countries, but the encroachment of clean technologies is now going well beyond that, threatening the balancing role that gas-fired plant operators, in particular, have been hoping to play.” Offshore wind has often been seen as a relatively expensive generation option compared to onshore wind or solar PV. However, auction programs for new capacity, combined with much larger turbines, have produced

APRIL 2019

Source: BloombergNEF

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Growatt Presenting Latest Product Models in a Row of Exhibitions At the start of April, Growatt exhibited its latest residential inverter, Growatt MIN 2.5-6k TL-X and commercial & industrial inverter, Growatt MAX 50-80k in a series of global trade show events. Growatt engineers and representatives received delegates at Smart Energy Conference & Exhibition in Australia, International Green Energy Expo & Conference in South Korea, Solarex Istanbul in Turkey and the Solar Show in Vietnam.

The global solar market is expected to grow at double-digit rate this year. According to IHS Markit, solar installations would reach 129 gigawatts. This is a great opportunity for us to grow our business and bring our reliable inverter solutions to the global solar market.” said Lisa Zhang, Growatt Marketing Director. As the NO.1 Chinese residential solar inverter supplier, Growatt has been exporting its inverter solutions since its foundation. With its product reliability and professional customer service, Growatt has earned reputation among the clients around the world.

rowatt MIN 2.5-6kTL-X has an appealing design with OLED display and touch button. At first glance, customers are attracted by such compact and beautiful design. Compared with solar inverters of the ‘old’ generation, it’s about 35% lighter because it uses aerospace grade materials, light and flame-retardant. So it would be easier to carry and install. Growatt MAX 50-80kTL3 has got 6 MPPTs and quad-core chips, which will greatly increase its flexibility for configuration on irregular roofs and enhance its capability to handle functions like surge protection, I-V curve scan, fault waveform record, one-click diagnosis etc.

With the development of technology and solar policies, the solar industry is changing and PV inverter brand is revolutionizing their solutions. “There are new developments in our products. We’ve launched MIN 2.5-6kTL-X for residential systems and MAX 50-80kTL3 for commercial and industrial solar. They are smart, capable, reliable and up-to-date. Clients are very interested in our new inverters. ” Zhang introduced.

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APRIL 2019

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