EQ Magazine September 2019 - Part 2/4

CITIZEN SOLAR solarising the nation

Sustainable | Durable Long Lasting Premium PV Module Manufacturer.

Engineered in Germany, Made In India.

200 MW • BIS Certified & MNRE Approved PV Modules / Panels.

• Fully Automatic Manufacturing Unit.

• Tier 1 Quality Modules Manufacturer.

• 51 Cities Presence in India.

PolyCrystalline MonoCrystalline BIPV Bifacial TwinPeak Modules

Citizen Solar Private Limited Office : 711, Sakar 2, Ashram Road, Ahmedabad - 380006.

Factory : 966, Village Indrad, Chhatral, Gujarat-382715.

(30w to 400w)

info@citizensolar.com www.citizensolar.com + 91 8000 111 222

I N T E R N AT I O N A L

OWNER :

FirstSource Energy India Private Limited

PLACE OF PUBLICATION :

95-C, Sampat Farms, 7th Cross Road, Bicholi Mardana Distt-Indore 452016, Madhya Pradesh, INDIA Tel. + 91 96441 22268

www.EQMagPro.com

EDITOR & CEO :

ANAND GUPTA anand.gupta@EQmag.net

PUBLISHER :

ANAND GUPTA

PRINTER :

ANAND GUPTA

TRENDS & ANALYSIS

SAUMYA BANSAL GUPTA saumya.gupta@EQmag.net

PUBLISHING COMPANY DIRECTORS: ANIL GUPTA

ANITA GUPTA

CONSULTING EDITOR : SURENDRA BAJPAI

HEAD-SALES & MARKETING : GOURAV GARG gourav.garg@EQmag.net

SR. GRAPHICS & LAYOUT DESIGNER : RATNESH JOSHI

SUBSCRIPTIONS :

GAZALA KHAN gazalakhan.eq@gmail.com RISHABH CHOUHAN rishabh.eqmag.net@gmail.com 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 thirdparty content or error,omission or inaccuracy in any advertising material ,nor is it responsible for the availability of external web sites or their contents

CONT EN T

VOLUME 11 Issue # 09 (B)

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

08

india Govt invokes special powers to save green projects worth Rs 40,000 crore

35

28 business & finance Cleantech Solar to raise $200 million via ECBs

technology

SOFAR G3 Better Customized For Residential Project

32 andhra pradesh Andhra Pradesh – sending investors packing, even if contracts are upheld

57

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.

electric vehicle The solar transformation of electric vehicles

6

EQ

SEPTEMBER-B 2019

www.EQMagPro.com

12 31

india

ROOFTOP & OFFGRID

Extinction of Great Indian Bustard, lesser florican: SC forms panel to frame emergency plan

Supreme Court New administrative building to Have 1400 KW Solar System

36

5

interview

D.V. Manjunatha

60

technology LED’s are the future, start using it

electric vehicle 5,645 electric buses sanctioned for 65 cities :Amitabh Kant

57

62 opinion Mono vs Poly An introspective simulation study!

electric vehicle Govt invites proposals for deployment of EV charging infra under FAME-II

75

74

40 42

INTERVIEW

Mr. Ketan Mehta

76 floating solar INDIA’S LARGEST FLOATING SOLAR PROJECT COMMISSIONED WITH DELTA CENTRAL INVERTERS IN GREATER VISAKHAPATNAM

EQ NEWS Pg. 08-35

renewable energy

Towards a Smaller Carbon Footprint

www.EQMagPro.com

distributed solar Rooftop solar power could be a game-changer for India despite challenges: Here is why

INTERVIEWS Pg. 40-43

EQ

SEPTEMBER-B 2019

7

Delta Electronics is a Global Leader in Power Management Solutions and believes in contributing to the Greener Society. Delta is devoted to innovation and systematically developing new products and technologies, particularly those that are high-efficiency and energy-saving. Aiming to reduce global warming and ensure mankind's sustainable future with better value and performance. Delta is continuously enhancing our engineering capabilities and is committed to developing innovative technologies and solutions for a better tomorrow.

8Â

EQ

SEPTEMBER-B 2019

www.EQMagPro.com

www.EQMagPro.com

EQ

SEPTEMBER-B 2019

9Â

INDIA

Govt invokes special powers to save green projects worth Rs 40,000 crore

The government has invoked special powers under the Electricity Act of 2003, directing the Central Electricity Regulatory Commission (CERC) to clear a clutch of inter-state transmission lines under the public sector route to save solar and wind power projects worth Rs 40,000 crore from getting stranded.

I

nvoking Section 107 of the Act, a written directive from the power ministry has asked CERC to approve the lines for which state-run PowerGrid had sought approval before new norms for clearing transmission infrastructure was implemented in June last year. The directive also seeks speedy clearance to transmission lines finalised under the previous norms once the utility applies for approval.

Section 107 of the Act allows the Centre to declare projects to be of public/national importance and issue executive directive to regulators to clear them for implementation by central utilities.

The ministry’s hand was forced after CERC refused to clear the lines on the ground they were finalised before the ‘Regulation for Transmission Line Planning’ was notified in June 2018 and said approval should be sought under the new rules — a year-long process. This would have resulted in a situation where the renewable projects would have started coming on stream before the power evacuation infrastructure was in place. This would have stranded the investments in the power projects.

Sources said the directive covers transmission lines required by the end of 2020 in Phase – I for 12.5 GW (giga watt) of renewable projects either under implementation or tendered, for which regulatory approvals had already been sought under the old norms. The directive also covers lines for 15.5 GW under Phase-I and 38.5 GW in Phase-II, which were finalised under previous policy and are in for approval.

Under the process prevailing before the CERC rules were notified, Central Electricity Authority and PowerGrid planned transmission schemes based on location of green power projects. The Standing Committee on Transmission, which had states as members, would vet the schemes before sending them to National Committee on Transmission headed by the CEA chairperson. Thereafter the proposals would be examined by an empowered committee headed by the power secretary before being sent for CERC tariff approval. This process took about a year. Under new norms, PowerGrid plans transmission schemes every six months and seek stakeholder comment before sending to Regional Power Committee, which would then send it for CERC approval. At present 80 GW of renewable energy transmission capacity is in operation, while the country is moving towards achieving a renewable energy capacity of 175 GW by 2022. India currently has 78, 359 MW of renewable energy capacity, which is about 21% of the 3,56,817 MW of total installed capacity.

Source: timesofindia.indiatimes

Delhi government to convert Rajghat power plant into solar The Delhi Cabinet approved a proposal to shut down the Rajghat thermal power plant and to convert the area into a solar park with the capacity of 5,000 KW.

Deputy Chief Minister Manish Sisodia said that the government had closed down the coal-based plant in 2015 as it was a major source of pollution. “The Cabinet approved the proposal to officially close down the Rajghat Coal Plant. The 45-acre area plant will be converted into a solar park,” he said. “Delhi Government has been pushing for solar energy for quite some time now,” he added.

Source: IANS

10

EQ

SEPTEMBER-B 2019

www.EQMagPro.com

www.EQMagPro.com

EQ

SEPTEMBER-B 2019

11Â

INDIA

Solar power scheme now open for TN small powerloom units Officials at the regional office of textile commissioner in the city said small powerloom weavers in the state could avail of subsidy for setting up solarpowered looms and also benefit from the solar power scheme as the sector has been included under the ‘net feed-in scheme’.

M Balasubramanian, deputy director at the regional office of the textile commissioner in the city, said the state had in March this year given a notification that the net-metering system in solar power would also be applicable to the powerloom sector.

I

n addition to this, small powerloom units, which have up to eight looms, could avail a minimum of 50% subsidy under the Powertex India Scheme for setting up the infrastructure required for solar power generation.

According to the official estimate, the cost for setting up solar power generation infrastructure would be Rs 2.8 lakh for four looms, Rs 4.2 lakh for six looms and Rs 5.6 lakh for eight looms. While powerloom owners under the general category would get 50% subsidy for this, those under SC category would get 75% and those under ST category would get 90% subsidy.

Balasubramanian said they had opened the application process for the scheme last month. “We have spoken to grid suppliers, who would provide invertors, solar panels and feed-in systems. They would connect with beneficiaries. We have asked them to give us a forecast on the possible number of installations for the next three quarters of this fiscal.”

Under the net feed-in system, two electricity metres would be installed – a bi-directional meter for measuring the power imported from and exported to the gird, and another one for measuring the generated solar power. Every imported unit costs around Rs 4.6 and for every unit exported to the grid anywhere between Rs 2.6 to Rs 2.8 would be waived from the total tariff.

Powerloom weavers, meanwhile, said the scheme might not be profitable for them. They were expecting a net-metering scheme, where the solar power generated was paid the same price per unit as gird power, while deducting the cost for total solar power generated from the total power tariff.

B Kanthavel, a representative of Erode Powerloom Association, said, “If we go by the net feed-in scheme, it would take around two years for us to get back the amount we invested in solar power. So, we think it would not be profitable. We need more clarity.”

Officials, however, said the net feed-in scheme was brought in by the Tamil Nadu Electricity Regulatory Commission, as they had to account for operational costs and losses incurred while distributing power.

Krannich Solar and JA Solar shake hands on a distributorship agreement in India Available now from Indian stock: premium high-performance PV modules

Krannich Solar, one of the leading wholesalers for photovoltaics worldwide, now offers high-performance­modules from the top PV manufacturer JA Solar for its customers in India. Founded in 2005, JA Solar is one of the leading global companies in the PV industry. The company is a vertically integrated manufacturer of wafers, cells and modules.

K

rannich Solar is therefore an important distribution partner of JA solar modules and offers them to installers all over India. The companies have already cooperated in other relevant PV markets worldwide for many years. The product training held on April 4th, 2019 in Mumbai marked the start of the collaboration between the German wholesaler and the Chinese manufacturer. During the event, customers got in-depth product details directly from Krannich Solar and JA Solar experts.

JA Solar modules advantages at a glance: World-leading in cell technology Strict module BOM selection, higher reliability Outstanding performance under low-irradiation conditions enable additional module power over conventional modules on system level High yield performance. Higher power output than industry level in mass production due to passivated backside and local BSF technology.

Excellent resistance to PID. Two-times electroluminescence test guarantees fault-free modules.

Sandeep Banodiya, Sales Director of Krannich Solar India said: After evaluating various suppliers of high-performance modules, we selected to go with JA Solar. The modules complement our product range very well as they offer our customers significant added value: high efficiency and exceptionally good yield provide the maximum return on investment. With JA we have a partner that has built up an excellent reputation for quality and reliability in the Indian market.

Source: timesofindia.indiatimes Source: jasolar

12

EQ

SEPTEMBER-B 2019

www.EQMagPro.com

Toll Free No. 1800 425 9600 www.swelectes.com

info@swelectes.com

India’s First Solar Floating Plant

Installed Over 150 MW Solar PV Projects

34+ years Experience in energy & power conditioning systems

Installed Over 9000 Solar PV Projects - Utility Scale, Rooftop and Solar water pump

Public Listed Company with large market capitalization.

Tier-1 Solar PV Module Manufacturer Bankability rating by BNEF

BIS Certified Solar PV Modules (IS 14286 : 2010, IS/IEC 61730 (Part 1): 2004, IS/IEC 61730 (Part 2): 2004

HHV SolarTechnologies 110 MW state-of-art manufacturing faciltiy at Bangalore, India

MMS Manufacturing facility in Tamilnadu -production capacity of 1 MW every 3 days

An Independent Power Producer with SPV projects developed under various national and Solar schemes

IMS certified company (ISO 9001:2015, ISO 14001:2015 + Cor 1:2009 & BS OHSAS 18001:2007)

Excellent after-sales service with more than 950 trained Service Engineers

Strong Business Tie-ups Elite customers from Corporates,Banks, Govt.Educational, Industrial etc.,

www.EQMagPro.com

Turnkey Solution Provider for Solar Power Projects with high-quality solar PV modules and complete Balance of Systems with IEC/MNRE certifications

(Formerly known as NUMERIC POWER SYSTEMS LIMITED) SWELECT HOUSE, No 5, Sir P.S. Sivasamy Salai, Mylapore, Chennai 600 004, Tamil Nadu, India.

Tel: +91 44 2499 3266 Fax: +91 44 2499 5179 Bangalore / Bhubaneshwar / Chennai / Coimbatore / CochinEQ / Dehradun / Lucknow / Mumbai / 13 SEPTEMBER-B 2019 Patna / Panchkula / Parwanoo / Hyderabad / Jaipur

INDIA

Extinction of Great Indian Bustard, lesser florican: SC forms panel to frame emergency plan Taking serious note of alarming extinction of two Indian birds Great Indian Bustard and the Lesser Florican the Supreme Court constituted a high powered committee to urgently frame and implement an emergency response plan for the protection of these species.

T

he top court constituted a three member panel comprising Director of Bombay Natural History Society; Dr Asad R Rahmani former Director of Bombay Natural History Society and member of governing body of Wetlands International South Asia and Dr Dhananjai Mohan, Chief Conservator of Forests of Uttarakhand. Senior advocate Shyam Divan assisted by advocates Sonia Dube and Sugandha Yadav, appearing for petitioner M K Ranjitsinh and others, said that directions needs to be issued to urgently frame emergency response plan for the immediate protection and recovery of both the species of bird in wake of the monsoon season. Petitioner Ranjitsinh, who is a retired IAS ocer and has served as the director of Wildlife Protection, in his plea has contended that over the last 50 years the population of the Great Indian Bustard has recorded a decline of over 82 per cent, falling from an estimated 1260 in 1969, to 100-150 in 2018. Besides Ranjitsinh, the other petitioners include Peera Ram Vishnoi, a Rajasthan based wildlife activist, Bapat Navinchandra Nanalal, a Gujarat based wildlife activist, Edward Santosh Martin, a conservationist working in Karnataka, and the Corbett Foundation, a charitable trust working on the conservation of wildlife.

“The population of the Lesser Florican (also known as the likh or kharmore) has seen a sharp decline of 80 per cent over the past few decades, from 3530 individuals recorded in 1999, to less than 700 individuals in 2018,” the plea said.

It added that both the birds are protected under the Wild Life (Protection) Act, 1972 but despite being accorded the highest level of protection under national law, the birds face the threat of imminent extinction. The plea blamed various reasons for the threats faced by the two endangered birds including– mortality by collision with infrastructure, particularly powerlines and wind turbines, depletion of grasslands, hunting, development of mines and human habitation in and around their habitats and ingestion of pesticides.

“The sharp decline in numbers of both species demands an urgent response from the Respondents (Centre and states).

To this end, it is incumbent on the Respondents to frame and implement an Emergency Response Plan for the immediate protection and recovery of both species, considering the approaching monsoon/breeding season,” the plea said.

Under the emergency response plan, the activists have suggested through the plea that steps should be taken for urgent dismantling and undergrounding of powerlines and wind turbines, immediate embargo on any upcoming wind, solar power projects, and powerlines in and around critical habitats. The plea among other steps sought immediate installation of diverters on powerlines in semi-critical habitats and urgent installation of predatorproof fencing in critical habitats to protect breeding grounds of both the species from invasive human activities as well as predators and immediate implementation of dog population control program.

“Unless urgent remedial steps are taken, the birds will be the rst two species of avifauna to become extinct, since Independence and the adoption of the Constitution of India by its citizens,” the plea said.

Source: PTI

14

EQ

SEPTEMBER-B 2019

www.EQMagPro.com

CSAD/EQInternational/0919

www.EQMagPro.com

EQ

SEPTEMBER-B 2019

15Â

INDIA

Solar power to get more profitable as power regulator lightens the safeguard duty burden The Central Electricity Regulatory Commission (CERN) has allowed 5.4 GW solar power project by Bhadla Solar Power, to get its safeguard duty back.

After the ruling, solar power producer will be compensated by law and will not have to wait for it for a year like the Bhadla park developer.

After safeguard duty was imposed, returns from solar power projects shrunk by 12-15%.

S

olar power producers will make more money now by the central power regulator, paving the way for more clean energy projects to take shape.The Central Electricity Regulatory Commission (CERN) has allowed 5.4 GW solar power project by Bhadla Solar Power, to get its safeguard duty back. This move will add to gains to the tune of 1.9-2.2% of the equity returns—basically the promoters and shareholders will make more profits.

Apart from benefiting affected projects, the reimbursement order provides much-needed clarity by emphasising a definite timeline for payments, and gives preference to the one-time payment mechanism,” said Ankit Hakhu, Associate Director, CRISIL Ratings.

A report by CRISIL said that after the ruling, solar power producer will be compensated by law and will not have to wait for it for a year like the Bhadla park developer. The CERN ruling also directed Solar Energy Corporation of India and electricity distribution companies of Rajasthan to compensate the developer of the Bhadla solar park project.

16

EQ

SEPTEMBER-B 2019

The Duty Effect The order can change the way safeguard duty will affect solar power industry, since it was imposed in 2018. The move had shrunk solar power gains by 1215%.

“The safeguard duty had increased the cost of the solar projects by about 15% because the solar modules used in the projects were largely imported from China and this amounted to 60% of the total project cost,” the report said. CERN has classified the reimbursement of safeguard duty under ‘Change in law’ provision in the Bhadla solar park project.

The duty had increased the cost of the solar projects by about 15% because the solar modules used in the projects were largely imported from China. And this amounted to 60% of the total Project cost.

Continuing interest of solar project developers is a function of how much gets left on the table, said Manish Gupta, Senior Director, CRISIL Ratings.

Source: businessinsider.in

www.EQMagPro.com

INDIA

WB Failed to Take Initiative to Create Green Energy Fund: CAG

T

West Bengal failed to create a Green Energy Fund (GEF) under the renewable energy policy of the government, the CAG has said in its audit report. he responsibility for creation and management of the energy fund was thrust upon the state’s nodal agency, West Bengal Green Energy Development Corporation Ltd (WBGEDCL), which has not taken any serious initiative in this direction, the Comptroller and Auditor General of India (CAG) said.

“GEF was to be created with equity contribution of the West Bengal government and contributions from international donor agencies.

However, the WBGEDCL did not take any initiative to create the fund,” it observed in the March 2017 audit report.

Citing the example of Maharashtra, the CAG noted that the Green Cess Fund created by the western state has generated Rs 2,315 crore between 2008 and 2015. The corporation, in its reply, said that a draft solar policy was under preparation and fresh attempts would be made for creation of the green fund, an official said.

Source: PTI

EPC and O&M service provider for utility scale solar PV plants

727 MW BUILT

579 MW IN O&M

21.75 MW IN CONSTRUCTION

BELECTRIC Photovoltaic India Private Limited

www.belectric.com phone: +91 22 68156099 Email: info@belectric.com

Unit No.601 & 602, F Wing, 6th Floor, Lotus Corporate Park, Gram Path Compound, Off. Western Express Highway, Goregaon (East), Mumbai - 400063, Maharashtra, India

www.EQMagPro.com

EQ

SEPTEMBER-B 2019

17

INDIA

Azure Power Appoints a Chief Executive Officer and a President

Azure Power Global Limited (“Azure Power” or the “Company”) (NYSE: AZRE), a leading solar power producer in India, announced that its board of directors has appointed Mr. Ranjit Gupta as chief executive officer and a member of the Board, and Mr. Murali Subramanian as president, effective July 18, 2019.

I am excited to join Azure Power and look forward to getting started immediately, said Mr. Gupta. “We welcome the opportunity to work with our new colleagues who established Azure Power as India’s leading solar developer. This is an exciting time in Indian renewable markets. We will build on Azure Power’s 3 Gigawatt portfolio and solid track record to advance the company and enhance its leadership position, creating value for shareholders, employees and the communities we serve.”

M

r. Gupta and Mr. Subramanian were the cofounders and CEO and chief operating officer, respectively, of Ostro Energy, a start-up enterprise that they grew into one of the leading renewable energy companies in India with a portfolio of over 1,000 MWs. Prior to Ostro Energy, Mr. Gupta and Mr. Subramanian were the leading executives at other power companies, including Orange Renewables and IndiaBulls Power. They began their careers at Schlumberger, in various field and management positions. As previously announced, Mr. Inderpreet Wadhwa made the decision to retire as CEO and chairman of the board of directors upon the appointment of a new CEO. Mr. Wadhwa will continue to serve as an advisor to the Company until December 31, 2019 to facilitate an orderly transition.

We are excited to welcome Ranjit and Murali to Azure Power, said Barney Rush, chair of the Nomination and Governance Committee. “They are proven senior executives who are deeply knowledgeable of the Indian renewable sector. We have confidence that under their leadership, Azure will continue to strengthen its leadership position in the renewable power sector. We would also like to thank Inderpreet Wadhwa for his vision, commitment and skill in building Azure into the strong and dynamic company it is today.”

18

EQ

SEPTEMBER-B 2019

www.EQMagPro.com

INDIA

India to touch renewable energy capacity of 260 GW by 2024: government secretary

NTPC’s installed capacity touches 55,786 MW NTPC Ltd, India’s largest power generator, announced the commissioning of 1st unit of 660 MW of Nabinagar Super Thermal Power Project (3×660 MW) of Nabinagar Power Generating Company Limited. With the announcement, the total installed capacity of NTPC Ltd reached 55,786 MW.

N

abinagar Power Generating Company is a 50:50 joint venture between NTPC Limited and Bihar State Power Holding Company Limited. NTPC Ltd. currently operates 54 power stations (22 Coal, 7 combined cycle gas/liquid fuel, 2 Hydro, 1 Wind and 11 solar projects). Further, it has 10 coal and 1 gas station, owned by Joint ventures or subsidiaries taking the capacity to 55,786 MW. NTPC aims to achieve total installed capacity of 130 GW by 2032.

India expects to achieve a renewable energy capacity target of 260 gigawatt (GW) by 2024, a government official said, as the country sees rapid growth in renewable capacity backed by government orders, private equity and pension fund investments.

I

ndia’s renewable power capacity soared by almost 150% in the last five years to 77.6 GW, while the government set a target of 175 GW by 2022. India is also formulating a policy to build a 30 GW local capacity for manufacturing solar cells and modules by 2024, Anand Kumar, secretary to the ministry of new and renewable energy, said at an event in New Delhi.

India might surpass the 175 GW target and achieve 225 GW of capacity by 2022, Power Minister RK Singh said last year, but did not provide an official figure at the time.

Source : ntpc

www.EQMagPro.com

Source: in.reuters

EQ

SEPTEMBER-B 2019

19

INDIA

Freak weather poses new risk to India’s renewables goals Conditions are damaging renewable energy projects, threatening businesses that survive on thin margins. India’s ambitious plan to take the leadership position among nations as one of largest producers of renewable energy may have run into some unfavorable weather.

F

reak climatic conditions are damaging renewable energy projects, threatening a business which survives on wafer-thin margins. A storm in Rajasthan, known for its deserts and sunny days, tore through a solar park and blew away modules of various developers. In the adjoining state of Madhya Pradesh, a generator found sections of his project submerged in 10 feet of water due to unseasonal rains.

We’d done a study of 50-year pattern of water-flow in the area and this time it exceeded that pattern, said Manu Srivastava, the chairman of Rewa Ultra Mega Solar Ltd, a joint venture between state-owned Solar Energy Corp. of India and the Madhya Pradesh government. The project has installed capacity of 750 megawatts.

Extreme weather events seem to have become the latest risk to Prime Minister Narendra Modi’s renewable energy goal to quadruple solar power generation to 100 gigawatts by 2022.

India may further push it to 440 gigawatts of green power by 2030, the country said in its latest forecast this month.

Flooding

The South Asian nation has been witnessing a rise in unexpected weather events.

About 400 people were killed in floods in the southern state of Kerala state last year after rains in first fortnight of August were over 150 percent higher than the average.

Over 2,400 lives were lost in India due to cyclonic storms, flash floods, landslides and cloudburst in the year ended March, Babul Supriyo, junior environment minister said in Parliament earlier this month. The World Bank-funded Rewa Ultra Mega Solar Power park received exceptionally heavy rains and winds on the night of July 5 that flooded a nearby drainage, submerging parts of project under water, according to the state government. Acme Cleantech Solutions Pvt., the producer of some of the cheapest clean power in the world, lost over a 1,000 modules in a storm in May at its project in Rajasthan. India has been classified as one of the most vulnerable countries to climate change and extreme weather events in several studies. The Global Climate Risk Index 2019 rank India at second in terms of fatalities in 2017 while a HSBC Bank PLC report in 2018 concludes India is the most vulnerable among 67 countries to climate risks.

20

EQ

SEPTEMBER-B 2019

Lower Generation

It’s not just unpredictable rainfall but also solar radiation in India that can no more be taken for granted. Over the last 6-8 months radiation has been lower by 4% to 6%, hurting power generation, according to Vinay Rustagi, managing director at renewable energy consultancy Bridge to India Energy Pvt. We haven’t seen any systemic analysis of weather risks partly because the sector is still very new,” Rustagi said. The race to bid lower tariffs has also prompted some developers to contain engineering and structural costs, making them more vulnerable to extreme weather phenomena. That’s left the financial sector worried, which has been betting big on solar power given the number of sunny days the country experiences.

The uncertainty is a growing concern among lenders and financiers, said Anurag Rastogi, chief actuary and chief underwriting officer at HDFC ERGO General Insurance Co Ltd, adding that his company has seen claims in the first year of the launch of their insurance product for solar projects.

Source: bloomberg

www.EQMagPro.com

INDIA

Power Ministry approves proposal for early regulatory nod for 66 GW renewable energy projects The power ministry said it has approved the proposal for early regulatory nod by CERC for transmission schemes for 66.5 GW renewable energy generation in order to fast-track green projects in the country.

“In a major decision to fast track the deployment of Renewable Energy (RE) in India, Minister of State for Power and New & Renewable Energy R K Singh has approved a proposal for early regulatory approval by Central Electricity Regulatory Commission (CERC) for transmission schemes identified for 66.5 GW National Renewable Energy Mission projects,” a Power Ministry statement said.

A

ccording to the statement, the Ministry of Power has issued an order in this regard. As a part of the steps necessary to fulfil the commitment made by India under the Nationally Determined Contribution pursuant to the Paris Agreement on Environment, the country will set up 175 GW of RE capacities by 2022. As of May 2019, about 80 GW of RE generation has already been commissioned and the balance 95 GW has to come up in the next three years. To achieve the targets, the Ministry of New and Renewable Energy (MNRE) in consultation with CEA (Central Electricity Authority) and Central Transmission Utility (CTU) has identified transmission schemes for around 66.5 GW of RE generation, comprising around 28 GW under Phase-I and around 38.5 GW under Phase-II as part of National Renewable Energy Mission of setting up of 175 GW of RE capacity.

As the gestation period of RE projects is much shorter in comparison to the implementation period of the transmission facilities, and significant quantum of RE capacity targeted to be tendered out in the current financial year, it is necessary that the present system of transmission planning and implementation for RE projects need to be carried out in Mission Mode, the ministry said.

TM

“The transmission activities need to be started much ahead of the generation so that both of them are completed in matching time-frame to achieve the target set by the Government of India. “Thus, in that background, it has been decided by the government to accord the identified transmission schemes for aforementioned 66.5 GW of RE generation, comprising around 28 GW under Phase-I and 38.5 GW under Phase-II as ‘Projects of National Importance’,” the statement noted.

The ministry issued directions to the power regulator Central Electricity Regulatory Commission (CERC) for approval for the transmission system associated with 12.5 GW of RE capacity in Phase-I, for which CTU has already submitted the application.

It also directed the regulator to grant approval expeditiously for balance 15.5 GW under phase-I and 38.5 GW under phase-II on submission of the application by CTU. Prior requirement of Long Term Access (LTA) applications and associated Bank Guarantees to be deferred for the interim period till the RE project is awarded to the successful bidder for taking up the implementation of associated transmission systems for balance RE Capacity under 66.5 GW of RE, the ministry said. It is, however, clarified that the due regulatory procedure of LTA and connectivity will be followed by the successful bidder, the statement added.

Source: PTI

WEST COAST ENGG. WORKS (P) LTD. Manufacturers & Exporters of Aluminium Walkways, Handrails, Ladders & Module Mounting Structures

G-10, New Udyog Mandir 2, Mogul Lane, Mahim (W), Mumbai - 400 016. India.

Mob: +91 9820675767 / +91 9987406538 www.EQMagPro.com EQ SEPTEMBER-B 2019 Email: sales@westcoastengworks.com / Web: www.westcoastaluminiumgratings.com

21

INDIA

Odisha Renewable Energy Development Agency signed an MoU with National Environmental Engineering Research Institute OREDA (Odisha Renewable Energy Development Agency) has signed an MoU with National Environmental Engineering Research Institute (NEERI), Nagpur to give support as Transaction Advisor for up-gradation and operation of Biju Patnaik Energy Park, Bhubaneswar.

T 22

EQ

he park was set up under Special Area Demonstration Programme (SADP) of Ministry of New & Renewable Energy (MNRE) and is directly managed by OREDA. The park has been divided into distinct activity zones namely Urja, Oriana, Aditya, Mitra, Bhaskar and Ishban which respectively represent the waste to energy resource centre, Children’s corner, indoor exhibit gallery, conference room, interactive media centre and Office. Besides, there are several outdoor exhibits which are either live demos or working models of different renewable energy devices which depict their working principles, applicability and a host of other information. Each of the activity zones and the exhibits have a great deal to offer to the inquisitive visitors, it is stated in a review meeting of the Agency held in the presence of Sri Ashok Chandra Panda, Minister, Science & Technology, Public Enterprises, SSEPD.

SEPTEMBER-B 2019

Minister Sri Panda said that promotion of research development and popularisation of all non-conventional and renewable sources of energy in the state is the mission of the Agency and he hoped that it will successfully complete all the pipeline projects such as electrification of 14000 households under ‘Soubhagya’, 1820 no. of Solar Drinking Water System, 175 irrigation pumps, installation of Solar Power Plant at 29 nos of KGBVs(Kasturaba Gandhi Balika Vidyalaya) and 40 OAVs (Odisha Adarsha Vidyalaya), 160 kw Rooftop Solar PV Power Plant at ST&SC Urban Hostels, 350 kw Rooftop Solar PV Power Plant at different ST &SC School Hostels, Project Management Consultancy for 2.5 MW Solar Power Plant for ARC, Charbatia, 11000 no of Solar Street Lighting System and distribution of 3257 no improved cook stove in Anganwadi Centre in Keonjhar under DMF. Besides NEERI, Nagpur OREDA has signed important MoUs with IIT, Bhubaneswar and Odisha Livelihood Mission and it has got cross sectoral engagement with the departments of ST&SC Development, Agriculture & FE, Water Resources, Forest & Environment, Home, Panchayatiraj & Drinking Water, Housing & Urban Development, Revenue & Disaster management, WCD and Mission Shakti and Health & Family Welfare. The financial progress of OREDA has touched 244.61 crore in 2018-19 from 34.62 crore in 2013-14. Bhaskar Sarma, Commissioner-cum-Secretary, Department of Science & Technology, Roopa Mishra, Chief Executive of the Agency, Bishnupriya Sahoo, Director (Adm.) along with other officers attended the review meeting.

Source: orissadiary

www.EQMagPro.com

INDIA

NSEFI Chairman highlights the export potential of Indian Solar Industry in the Solar Leaders Roundtable with Vietnam Ambassador H.E Pham Sanh Chau National Solar Energy Federation of India organized Solar Leaders roundtable with Vietnam Ambassador H.E Pham Sanh Chau on Solar Energy Landscape in Vietnam – Opportunities for Indian industry.

Chairman Pranav Mehta whilst welcoming the ambassador highlighted the export potential of Indian Solar Industry in EPC, Rooftop sector and in developing solar projects.

Ambassador Pham Sanh Chau said the world recognizes India as true leader in solar energy. After green and white revolution India has actively contributed to what I call “yellow revolution” which made solar energy affordable. There are ample opportunities for Indian industry in Vietnam, especially since we have called off our plan to start two nuclear projects.

V

ietnam, being a signatory country of Paris Climate Agreement, Ambassador Chau emphasized that, is very serious about our carbon emissions and fully recognize renewable energy is the only solution. He further added that tariff available for the industry in Vietnam is almost double that of the present tariff in India which is a good sign for industry.

While concluding he reemphasized that Vietnam government has introduced a new mechanism for tax incentives on solar industry to promote foreign investment which Indian companies can utilize. NSEFI members presented their company profiles and their ongoing projects in Vietnam which was followed by a roundtable conference where the ambassador interacted with the industry addressing various queries on tariff, PPA bankability, rooftop opportunities in Vietnam. While concluding, Chairman Mehta has reiterated that India’s act east policy has a special focus on Vietnam and NSEFI will be leading a delegation of Indian Solar Industry to Vietnam early next year to explore business opportunities and strengthen bilateral trade with the active participation and help of both governments.

～

www.EQMagPro.com

EQ

SEPTEMBER-B 2019

23

INDIA

India will overachieve Paris pact targets by 60%: IEEFA India would significantly exceed its 2015 Paris Agreement target of a 40 per cent share of installed power capacity from non-fossil fuel sources by 2030.

India would significantly exceed its 2015 Paris Agreement target of a 40 per cent share of installed power capacity from non-fossil fuel sources by 2030, the US-based Institute for Energy Economics and Financial Analysis (IEEFA) said. Based on India’s Central Electricity Authority (CEA) projections, instead of 40 per cent, India will have 63 per cent of installed capacity from nonfossil fuel sources by 2029-30. And this amounts to 60 per cent more than what India had committed to achieve under the 2015 Paris Agreement on Climate Change, said IEEFA. India is making huge strides, with 13GW of solar projects tendered in June alone, it said.

I

EEFA’s statement is based on a report released by the CEA earlier this month. The CEA’s report on Optimal Energy Mix scenario projects that India could have 63 per cent of its installed power capacity from non-fossil fuel sources, including hydro, by 2029-30.

According to the CEA, the growth in new installed power capacity will lead renewables to generate close to 44 per cent of all electricity consumed in India in 2029-30. In a report, ‘India Energy Transition Fuels Growth Path for Sustainable Development’, IEEFA said the CEA’s analysis predicts moderate growth in increased coal capacity (from net end-of-life coal plant closures), while gas and biomass growth are expected to be negligible. The CEA makes a base forecast for thermal power capacity of 291GW by 2030, a clear expansion from the 225 GW operating as of March 2019. But the CEA’s bullish conclusion is that thermal capacity will drop from 64 per cent to just 35 per cent of total installed capacity in only 11 years. The CEA models also take into account that India will need 34GW/136GWh of battery energy storage systems (BESS) by 2030 to balance the grid reliability and stability needs of 440GW of variable renewable energy capacity, supported by 73GW of hydro and 10GW of biomass.

In view of the rate of technology change and cost deflation in batteries, this ambitious forecast could prove to be prescient, said IEEFA. The CEA’s optimal capacity generation mix estimates are based on projected demand obtained through India’s 19th Electricity Power Survey. The projections are adjusted to include estimated contributions from solar rooftop generation.

India dominates the list of countries with the most polluted cities on earth. As per World Bank estimates, air pollution costs are equivalent to 8.5 per cent of the GDP. India is also facing extreme and growing water shortages in major cities. Transitioning to clean energy can help the country achieve its twin objectives of strong economic growth and sustainability,” said Vibhuti Garg, the energy economist who wrote the IEEFA brief. Garg told IANS that the momentum to build more renewable energy capacity should not only be reflected at the central planning level but also integrated and coordinated with the plans of the state governments.

Gujarat is a frontrunner, with the state announcing plans to increase power generation capacity from renewable sources to 30GW in the next three years. However, IEEFA said in order to build energy security and incorporate an ever-increasing share of zero pollution and deflationary renewable energy, planners need to prioritise expansion of quality interstate grid transmission. This is a critical prerequisite for India to meet its renewable energy ambitions.

According to IEEFA, adoption of grid-scale energy storage technologies is critical for large-scale integration of renewable energy sources. As part of UN’s Climate Action Summit scheduled in September, India and Sweden have been tasked with formulating an industry zero emissions policy.

Prime Minister Narendra Modi will address the summit convened by UN Secretary-General Antonio Guterres on September 23 in New York. At a recently concluded pre-UN Secretary General climate summit meeting in Abu Dhabi, significant progress was achieved, officials said.

A meeting summary document released by UN states the industry transition coalition hosted several very productive discussions on how to enable ambitious announcements from heavy industry. The planned outcome is a commitment from a group of heavy industry CEOs to net zero emissions by 2050, with a clear plan on how this will be achieved and a clear near-term deliverable, backed up by an analytical roadmap and a call to action to the rest of the sector aiming to make this the start of a growing group of companies from the harder-to-abate sectors — committing to and moving towards net zero emissions by 2050.

Source: IANS

24

EQ

SEPTEMBER-B 2019

www.EQMagPro.com

INDIA

India requires Rs 5 Lakh Crore worth of investments in power transmission Industry body CII called for creating an independent central transmission utility(CTU) to ensure a transparent planning and operation process and encourage private investments. Currently, state-run Power Grid Corporation is the CTU as well as a major player in power transmission in the country.

“The creation of an independent CTU completely distinct from any developer will ensure a transparent planning and development and operation process and encourage private investments,” CII said in the report ‘New-Age Power Systems for 21st Century’ released. he report also urged the government to auction all power transmission projects under tariff based competitive bidding regime to encourage investors to exploit Rs 5-6 lakh crore investment potential in next 5 years.

The report illustrates that competitive bids have ensured tariff reductions by almost 30 per cent compared to projects awarded on a nomination basis that follow a cost-plus approach,” Pratik Aggarwal, Chairman of CII’s Core Group on Transmission and the Group CEO of Sterlite Power Transmission said talking to media on the report.

This becomes a huge differentiator in the renewable sector. As opposed to a transmission cost of 7-8 per cent, the same cost per unit in renewables goes up substantially as operational efficiencies in the renewable sector is far lower, he added.

Agarwal also said, “transmission is the backbone of the power sector and has a significant role to play in enabling government’s vision of 24×7 Power for All, and meeting our renewable energy targets as part of global climate change commitments”

The major recommendations include urgent need to upgrade capacities within existing infrastructure, clearly distinguishing the role of the CTU from the functions of the developer. The CII also recommended redefining the scope of planning for the centre which should be based on the capacity of the transmission line instead of the geography where the same is located, and finally the need to bring in competition and move away from the cost-plus approach or regulated tariff mechanisms. The CII had earlier shared a copy of the report with the Ministry of Power. It has worked on the white paper ‘New Age Power Systems: For 21st Century India Challenges, Solutions and Opportunities’ with a view to partner with the government in developing a blueprint for efficient transmission system.

Source: PTI

India to touch renewable energy capacity of 260 GW by 2024: government secretary India expects to achieve a renewable energy capacity target of 260 gigawatt (GW) by 2024, a government official said, as the country sees rapid growth in renewable capacity backed by government orders, private equity and pension fund investments.

India’s renewable power capacity soared by almost 150% in the last five years to 77.6 GW, while the government set a target of 175 GW by 2022. India is also formulating a policy to build a 30 GW local capacity for manufacturing solar cells and modules by 2024, Anand Kumar, secretary to the ministry of new and renewable energy, said at an event in New Delhi. India might surpass the 175 GW target and achieve 225 GW of capacity by 2022, Power Minister RK Singh said last year, but did not provide an official figure at the time.

www.EQMagPro.com

Source: in.reuters

EQ

SEPTEMBER-B 2019

25

BUSINESS & FINANCE

GE Sells Solar-Business Stake to BlackRock General Electric Co. agreed to sell a majority stake in a solar-energy business to BlackRock Inc., giving the investment giant footing in a growing market as the ailing manufacturer shifts its focus elsewhere.

A

fund managed by BlackRock’s Real Assets unit will own 80% of Distributed Solar Development, a new company created from GE Solar, the companies said in a statement. Financial terms weren’t disclosed. The deal furthers GE’s streamlining as Chief Executive Officer Larry Culp seeks to rescue the conglomerate by narrowing focus around aviation, gas power and wind energy. The Boston-based company is using mergers to exit the oil and locomotive markets, and GE has said it is “evaluating strategic options” for its venture-capital operations. GE Solar, a consulting business with about 60 employees, has been incubated within GE since 2012. The unit, which doesn’t make solar panels, focuses on “solar and storage solutions for the commercial industrial and public sectors.” GE had explored solar-panel manufacturing but sold its technology to First Solar Inc. in 2013. GE fell 1.5% to $10.23 at 10:42 a.m. in New York, while BlackRock slid 1.5% to $470.13.

Once Risky BlackRock’s Real Assets unit, which has more than $50 billion in client commitments, started its renewable-power platform in 2012. The GE deal comes as investors begin prioritizing a solar segment that was once viewed as riskier than developments for utilities or homeowners: projects for commercial and industrial customers. Part of the impetus is money, as smaller solar farms offer returns that can be more than 2% higher than big projects. It’s also a matter of availability and supply. Large institutional investors have dominated recent auctions for utility-scale developments, crowding out other would-be buyers. And states including California have committed to rid their grids of emissions, encouraging more renewables developments.

Source: bloomberg

Suzlon defaults on $172 million bonds, may offload stake Renewable energy solutions provider Suzlon has failed to pay the principal amount of 172 million dollars for outstanding bonds which was due. The outstanding payment was part of a total bond issuance of 546.91 million dollars.

“The company is working on a holistic solution for its debt and continues to be in discussion with various stakeholders in relation to its outstanding debt, including the bonds,” Suzlon informed stock exchanges in regulatory filings.

R

eports say Suzlon has been in talks with investors like Brookfield for a stake sale.

In 2015, pharma billionaire Dilip Shanghvi invested Rs 1,800 crore in Suzlon for a 23 per cent stake and hoped to turn around the company.

When Suzlon defaulted on a repayment of 221 million dollars in October 2012, it was India’s biggest bond default till then. In 2014, the company restructured 485 million dollars worth of bonds which were initially due for repayment between 2012 and 2016. These were valued at 547 million dollars at the time.

The 172 million dollars foreign currency convertible bonds (FCCBs) default was for the last tranche of the 547 million dollars. Of the total FCCBs of 547 million dollars, the company had converted 375 million dollars into equity by 2018. For 2018-2019, Suzlon company reported a consolidated loss of Rs 1,527 crore and debt of Rs 9,624 crore. Care Ratings assigned a default measure for the company in April this year.

Source: aninews.in

Amplus Energy to invest Rs 500 cr for 100MW solar project in UP

Amplus Energy Solutions has announced an investment of Rs 500 crore for its second open access solar project of 100MW in district Deoria of Uttar Pradesh. The ground-breaking ceremony by the state government this month will kick-off this project, the company said in a statement.

Prior to this, Amplus had committed investment of Rs 250 crore for setting up a 50MW open access solar project in Mirzapur. The project is under construction and expected to be commissioned by September 2019. The Deoria plant will generate 700 jobs and supply green energy to many industries located in the state, it added.

26

EQ

SEPTEMBER-B 2019

We are excited to partner with Uttar Pradesh and with the strong support for these two projects that we are constructing, we are looking forward to adding more capacity in the state in the coming years, Amplus’ Managing Director and CEO Sanjeev Aggarwal said. Earlier this year, Amplus had announced two open access projects in Haryana.

A

mplus owns India’s largest single location open access solar project in Gadag, supplying 175 MW solar power to businesses in Karnataka.

Amplus is a member of Malaysia’s Petronas Group.

Source: PTI

www.EQMagPro.com

BUSINESS & FINANCE

Amplus ups solar investment to 750 Cr. in UP Amplus Energy Solutions, Asia’s leading distributed and rooftop solar company, announces a fresh round of investment of ₹ 500 Crores for its second open access Solar project of 100MW in Distt. Deoria, Uttar Pradesh.

T

he ground-breaking ceremony by the UP government in July will kick-off this project. Prior to this, Amplus has already committed investment of ₹ 250 Crore setting up a 50 MW solar open access project in Mirzapur. The Mirzapur project is under construction and expected to be commissioned

by September ’19. A power importing state, UP aims to become self-sustainable in energy generation. Uttar Pradesh Electrcity Regulatory Commission (UPERC) has played an active role in formulating regulations, vitalising the solar energy sector. With strong support from UPIIDC and UPPTCL in getting the requisite approvals, Amplus projects will add the much needed generation capacity within the state .

The plant to be set up in Deoria aims to boost the UP Government’s solar ambition. This project will generate 700 jobs and supply green energy to many industries located in the state. UP is a highly industrialised state with several large manufacturing units and commercial office complexes. With the option to procure green energy at competitive rates, industries will be further incentivised to expand their operations in UP. Amplus has been a committed clean energy partner for many commercial and industrial customers. It owns and operates several on-site solar projects in UP, including India’s first solar powered expo centre at IEML, Noida and one of India’s largest rooftop solar plants for self-consumption, a 6.2 MW plant at Yamaha, Noida.

We are excited to partner with Uttar Pradesh and with the strong support for these two projects that we are constructing, we are looking forward to adding more capacity in the state in the coming years ”, said Mr. Sanjeev Aggarwal, Amplus’ Managing Director and CEO. Earlier this year, Amplus had also announced two open access projects in Haryana, showing its commitment to enhancing renewable energy capacity building in India.

Amplus already owns India’s largest single location open access solar project in Gadag, supplying 175 MW solar power to businesses in Karnataka

REC Raises 650 Million USD from Global Medium Term Programme under REG S Bonds Issuance PRICING OF USD 650 MILLION 3.375% FIXED RATE SENIOR UNSECURED DOLLAR NOTES OF 5-YEAR TENOR REC Limited has successfully raised USD 650 million (INR 4,450 crore), 5-year bond from REG S Bonds under the established Global Medium Term Programme of USD 5 billion. Proceeds of the bond will be used to finance power projects in accordance with the approvals granted by the RBI from time to time and in accordance with the ECB Guidelines.

T

he 5-year REG S Bond has a semi-annual coupon of 3.375% per annum and a maturity date of 25 July 2024. It offers investors a reoffer spread of 167.50 basis points over the 5-year UST. The transaction saw an oversubscription of more than four times with active participation from more than 140 major international investor accounts allowing it to price inside its current market levels with the tightest coupon ever on its five-year USD bond. The Initial Price Guidance was 195 basis points over the five-year US Treasury. REC decided to upsize the deal to USD 650mn from the earlier benchmark target to accommodate keen investor interest in the issuance from REC Limited. The final Order Book has been over $2.70 billion from over 140 accounts across the globe with Asia accounting for 63%, EMEA 37% REC’s bonds opened for subscription across global centres subsequent extensive road show in Asia and London. The transaction evidences strong demand and confidence from investors around the globe towards REC Limited’s differentiated credit despite the weaker emerging market headlines and some concerns on Indian NBFI sector This demonstrates a very strong investor appetite for India sovereign-linked paper, at a very tight pricing. Barclays, DBS Bank Ltd., HSBC, MUFG and Standard Chartered Bank are the joint bookrunners for the issue.

Source: recccprco

www.EQMagPro.com

EQ

SEPTEMBER-B 2019

27

BUSINESS & FINANCE

GE and BlackRock Launch Distributed Solar and Storage Business With BlackRock as a partner and a new focus on project ownership, GE’s under-the-radar solar business may be in for noisier days ahead.

General Electric is a big and sprawling company that’s undergone some dramatic reorganizations over the past few years, particularly in its renewable energy, energy storage and grid edge business lines.

B

ut over the past four years, amid these large-scale corporate changes, a small unit of GE has built a growing business around developing distributed solar and solar-plus-storage projects.

GE announced it’s taking this business to a new stage, via a partnership and majority investment by asset management firm and heavyweight renewables investor BlackRock Real Assets. The new company, named Distributed Solar Development, will be 20 percent owned by GE Renewable Energy and 80 percent owned by a fund managed

by BlackRock. The business, which has been incubated within GE since 2012, will focus on commercial, industrial and public-sector customers.

Erik Schiemann, CEO of Distributed Solar Development and a veteran of various GE business units, said in an interview that the investment would allow the company to expand its current project development work — and, for the first time, own the projects it’s developing.

“What we specialize in at Distributed Solar Development is the origination, development, design, execution, building, and asset management of distributed solar and storage projects,” he said. Most of its projects to date have been behind-the-meter. “BlackRock’s investment further advances our growth in that platform, allows us to take on new markets, and allows us to double down in the markets we’re currently successful in.” And while the business hasn’t owned any of the projects it’s developed to date, that’s set to change with BlackRock’s investment. “The cash infusion allows us to participate as an owner of the assets,” he said.

BlackRock’s push into distributed energy resources.

BlackRock Real Assets has primarily invested in utility-scale renewables, with $5 billion invested in over 250 wind and solar projects with a total generation capacity of over 5.2 gigawatts. But it has made moves into distributed-scale solar projects this year, including April’s undisclosed investment into small-scale solar project owner CleanCapital.

28

EQ

SEPTEMBER-B 2019

David Giordano, global head of renewable power at BlackRock, said, “This investment will deepen our clients’ access to the tremendous growth potential in the U.S. solar industry.”

Distributed Solar Development has developed about 125 projects in 15 states, working with a variety of solar PV system providers and a set of regional electrical contractors, Schiemann said.

It has specialized in carport solar PV systems — “Our canopy solution, whether it’s in a carport or on top of a parking deck, is a big part of our volume, and something we’ve really differentiated” — and about two-thirds of its projects are behind-the-meter. But it has also developed rooftop and greenfield projects, as well as front-of-meter, distribution-grid-connected systems, he said.

Battery storage systems now make up a small portion of its projects, but “a majority of our West Coast projects now have a high attach rate of storage,” he said, matching broader trends for solar power in those markets. “In most of the key states known for storage, almost all of our proposals and solutions incorporate them now.” The U.S. commercial solar market has contracted in 2018 and 2019, according to Wood Mackenzie Power & Renewables, largely due to increasing market saturation and shifts to less favorable rate structures and incentive programs in key states such as California, Minnesota, Massachusetts, New York and New Jersey. But WoodMac data also shows that developer-owners have captured an increasing share of this more challenging market, compared to those that limited their involvement to acquiring projects, while third-party financed projects have grown from about a third of projects in 2015 to more than half of all projects as of last year.

www.EQMagPro.com

BUSINESS & FINANCE

GE’s bumpy road through the solar landscape Schiemann first started developing projects while working for GE’s PrimeStar thin-film solar PV manufacturing business, during the period when the company decided to abandon the field by selling it to First Solar. “I started pushing us in startup fashion toward distributed solar and distributed solutions,” and the company started landing commercial contracts in 2012, he said. This project development work continued during his time at GE’s Current and then at GE Energy Ventures. GE still makes solar inverters, switchgear and other solar-related equipment, and is heavily involved in financing and investing in large-scale wind power projects. GE is among the world’s leading suppliers of onshore wind turbines and has big ambitions for the offshore market. Meanwhile, its approach to the solar, energy storage and distributed energy markets has shifted dramatically over the past few years.

In 2015, GE created its Current business with $1 billion in investment, meant to bundle smart lighting, solar, EV charging, energy storage and energy management services for commercial and industrial customers. But in late 2016, it underwent a major restructuring that essentially stripped Current down to smart lighting and building energy management, and in 2018 it sold that business to private equity firm American Industrial Partners.

In 2018, GE’s energy storage business was shifted to GE Power, while the company underwent a broader restructuring that led to the formation of GE Renewable Energy as a standalone business unit, to house its renewable energy and grid assets, including solar, storage, wind and hydropower. Solar remains a tiny fraction of GE’s overall renewables business; onshore wind accounted for nearly 90 percent of the Paris-based Renewable Energy segment’s revenues last year, with hydro chipping in most of the rest.

Source: greentechmedia

Azure’s key investors explore selling stake Move comes in wake of CEO Inderpreet Wadhwa’s impending exit.

DEG, World Bank’s IFC, and CPDQ are said to be looking to sell their stakes in Azure Power Global.

German development finance institution Deutsche Investitions- und Entwicklungsgesellschaft (DEG), World Bank’s private-sector development arm International Finance Corporation (IFC) and Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ), are exploring a sale of their stakes in Azure Power, India’s first renewable energy company to list on the US stock market, said two people aware of the development, requesting anonymity.

T

he development comes amid the impending exit of Azure Power’s founder Inderpreet S. Wadhwa as chairman, chief executive officer and board member of the company and all its subsidiaries. On 3 May, the company had announced Wadhwa’s retirement plans. New York Stock Exchange-listed Azure Power Global Ltd has a 3 gigawatts (GW) portfolio across 24 states in India. Founded in 2008, it had developed India’s first utility-scale solar project in the following year.

Ahead of Azure’s initial public offering (IPO), CDPQ had picked up a stake worth $75 million as part of a private placement. Azure is also backed by IFC, venture capital fund Helion Venture Partners and DEG. In a first, Azure Power had raised $500 million through green bonds in August 2017, to repay its existing debt and for capital expenditure for its under-construction projects and growth.

“Post the announcement of the exit of Wadhwa, the promoters are exploring a stake sale and have initiated discussions for the same,” said the first persons cited above. The second person confirmed the development.

In December 2015, New Delhi-based Azure Power had filed for an IPO to raise $100 million by selling 6.8 million shares at $21-23 apiece. It sold 3.41 million shares in its IPO, including 2.24 million new shares and 1.16 million shares of existing shareholders, to raise $61.36 million.

Nathan Judge, head of investor relations, Azure Power, in an emailed response said: “The company has not been informed of any such plan by any of its large shareholders.”

The exploratory plans come at a time of relentless deal activity in India.

Foreign investors have infused $1.02 billion equity investment in clean energy projects in 2019 so far, according to data compiled by consulting firm Bridge to India. International equity investment in India’s clean energy sector was $283 million in 2016, $532 million in 2017 and $1.12 billion in 2018. This excludes all offshore debt funding and investments made by foreign developers in their Indian subsidiaries.

While a CDPQ spokesperson, in an emailed response, said: “Unfortunately, we cannot comment on founded or unfounded rumors”, a DEG spokesperson said: “For reasons of confidentiality, we cannot comment on any business activities in individual cases.”

Queries emailed to spokespersons for Helion Venture Partners and IFC on 16 July remained unanswered. Overseas investments in India’s green energy space have been growing, spread across solar power generation (roof-top and grid connected), wind power generation firms and electric vehicles. The electricity storage projects are gaining traction now. While several of Azure Power’s Indian peers have looked at raising money through IPOs, they haven’t yet been successful.Globally, India is ranked fourth and fifth, respectively, in installed capacities for wind and solar power. With competitive solar bids and India’s wind energy sector having transitioned from a feed-in tariff regime, which ensures a fixed price for wind power producers, to tariff-based competitive auctions, obtaining finance at the lowest cost has become key.

Source: livemint

www.EQMagPro.com

EQ

SEPTEMBER-B 2019

29

BUSINESS & FINANCE

Cleantech Solar to raise $200 million via ECBs The Singapore-headquartered firm will utilise the fund to expand its capacity to 500 MW in the next couple of years from the existing 200 MW. Cleantech’s around three-fourth of the existing capacity is based in India and the rest in Southeast Asian countries.

C

leantech Solar, a Southeast Asia and India-focused solar energy systems developer, is planning to raise $200 million or `1,380 crore debt in external commercial borrowings (ECBs) over the next four to six months time, people close to the development told FE. The Singapore-headquartered firm will utilise the fund to expand its capacity to 500 MW in the next couple of years from the existing 200 MW. Cleantech’s around three-fourth of the existing capacity is based in India and the rest in Southeast Asian countries.

According to sources, “Under ECB, the cost is expected to be cheaper by 100 basis points compared to domestic funds. A majority of the proceeds will be used to set up rooftop projects in India while the rest will be used to set up projects in Southeast Asian countries.” The company did not respond to an email query sent by FE till the time of going to press.

30

EQ

SEPTEMBER-B 2019

UK-based Shell Plc acquired a 49% stake in Cleantech in January 2019 for $100 million as its first investment in alternate energy platform in Asia. After the Shell transaction, Raju Shukla, chairman and founder of Cleantech Solar, said, “We should cross 500 MW in a couple of years’ time and these investments will be used for aggressive expansions. The shift to alternate energy and solar is at a faster pace and we expect this trend to continue throughout the region.” Over the last four years, Cleantech Solar has signed over 120 contracts with local and multinational corporations in the region representing over 200 MW of projects, with a majority being in operation and the rest under construction and development. In India, the company shares number one market position with 13% market share in the rooftop segment as per the latest report by Bridge to India.

Source: financialexpress

www.EQMagPro.com

BUSINESS & FINANCE

Greenko raises $950 mn in mega green bond sale Deal is among the largest overseas green bond sales by an Indian clean energy firm Greenko Energy is backed by GIC Holdings and Abu Dhabi Investment Authority

In one of the largest overseas green bonds raised by an Indian clean energy producer, GIC Holdings Pte. Ltd and Abu Dhabi Investment Authority (ADIA) backed Greenko Energy Holdings raised $950 million.

T

he bond raise followed after the two sovereign wealth funds agreed to pump in an additional $329 million in Greenko Energy Holdings. Mint reported about the proposed bond raise on 17 July. Greenko owns operating assets of 4.2 gigawatts (GW) and under-construction assets of 7 GW. It had raised $1 billion through dollar denominated bonds in 2017.

We successfully raised the bond for 950 million with over three times oversubscribed by global investor’s. This is largest high yield bond from India this year and largest Green Bond from Asia. The pricing was 5.5 yield and all process was completed in five days,” Greenko Group president and joint managing director Mahesh Kolli told Mint.

This also follows the $495 million investment in June by the sovereign wealth funds in Greenko to build power storage projects. With multilateral and bilateral agencies, as well as sovereign wealth funds, not showing interest in businesses contributing to climate change, the two sovereign funds have so far infused $2.2 billion in Greenko, which was founded by Mahesh Kolli and Anil Kumar Chalamalasetty.

Kolli added that the bonds were rated Ba1 by Moody’s.

Greenko’s bond issuance comes at a time when India’s emerging green economy will require additional investments of around $80 billion till 2022, growing more than threefold to $250 billion during 2023-30. Indian companies have been raising debt from overseas markets to take advantage of lower interest rates.

Last year, Indian companies had raised $6.3 billion through dollar denominated bonds, down 51.7% from the previous year as the number of bond sales more than halved, according to data from Thomson Reuters. While GIC and ADIA hold 61% and 15%, respectively, in Greenko, Kolli and Chalamalasetty own the remaining 24%. With competitive solar bids and India’s wind energy sector having transitioned from a feed-in tariff regime, which ensures a fixed price for wind power producers, to tariffbased competitive auctions, obtaining finance at the lowest cost has become key. The global energy landscape has also been rapidly evolving. From the London Stock Exchange (LSE) classifying oil and gas stocks as non-renewable energy to the decision of Norway’s Government Pension Fund Global (GPFG), the world’s largest sovereign wealth fund, to stop investing in oil and gas explorers globally, there has been a fundamental change in the global investment culture against the backdrop of growing climate concerns. India is ranked fourth and fifth, globally, in installed capacities for wind and solar power, respectively. India has become one of the top renewable producers globally with ambitious capacity expansion plans. The country has an installed renewable energy capacity of about 80 gigawatts (GW) and is running the world’s largest renewable energy programme with plans to achieve 175GW by 2022 and 500GW by 2030, as part of its climate commitments.

Source: livemint

www.EQMagPro.com

EQ

SEPTEMBER-B 2019

31

BUSINESS & FINANCE

Avaada Energy implementing 2GW of open access solar plants

The company has over 500 MW of open access solar plants portfolio, one of the largest in India.

Leading corporates, MNCs, IT and manufacturing giants are among its client base The company has over 1.8 GW of commissioned renewable assets in India till date

A

vaada Energy, one of the leading Independent Power Producers (IPP) in India, has commissioned over 1.8 GW of renewable assets ( Solar and Wind ) and is in the process of implementing 2000 MW of open access solar plants in states like Maharashtra, Tamilnadu, Haryana, Karnataka and Orissa. The company has a portfolio of over 500 MW of open access solar plants for leading corporates, IT, MNCs and manufacturing segment.

These plants are being built for corporates who are looking to optimize their operating costs and meet their green energy needs through solar, rooftop and hybrid energy solutions. Typically, a corporate can save up to 30-50% of its electricity costs by switching to open access solar solutions.

32

EQ

SEPTEMBER-B 2019

Speaking about Avaada’s open access solar solutions, Vineet Mittal, Chairman, Avaada Energy said “Avaada continues to contribute to India’s green energy revolution led by Hon’ble PM Shri Narendra Modi. Open access is a highly credible and economical solution for corporates looking to bring down their electricity bills and CO2 emissions significantly. We are already working with some of the leading MNCs who have committed to switch to 100% renewables” Avaada Energy recently raised over INR 1000 crs from investors such as the Asian Development Bank (ADB), Germany’s Deutsche Entwicklungs- und Investitionsgesellschaft (DEG), Dutch Development Bank, Netherlands Development Finance Company (FMO) and Promoters. The company has a target of developing 5 GW of renewable energy portfolio in Asia and Africa by 2022.

Source: avaada

www.EQMagPro.com

ROOFTOP & OFFGRID

Supreme Court New administrative building to Have 1400 KW Solar System The Supreme Court will get a new administrative block to cope with the space constraints of the top court.

“The Additional Office Complex of the Supreme Court with a futuristic vision was planned on land measuring 12.19 acres abutting Pragati Maidan,” a press statement said.

T

he foundation stone of the building was laid on September 27, 2012. The building is a state-of-the-art, environment-friendly, centrally air-conditioned office complex with all modern facilities. The curvature of the building is in the European style with pillars that rise from the ground level and the colour scheme and sandstone external cladding depicts an attempt to retain the original marvel of the Supreme Court. Designed to maximize the use of available sunlight, air and water, the new complex will generate solar power of 1,400 KW which will be integrated in the main grid. The project has been designed as a GRIHA (Green Rating for Integrated Habitat Assessment) -compliant energy efficient building complex. The new building will have five functional blocks and one service block, which are four to nine storeys high. The additional building complex will have a three-level basement with car parking capacity for about 1,800 car units.

It has been built by the Central Public Works Department (CPWD), with a total built-up area of 1,80,700 square meters and has imbibed technology intensive features, a showcase of avant-garde building technology, statement said.

www.EQMagPro.com

The additional complex sets new standards in energy-efficient and environment-friendly building design and construction. There are two world class auditoriums with a seating capacity of about 620 and 250 people and a conference-cummeeting room. Its rooftop solar power grid connected system, has the maximum solar power capacity of any building in Delhi-NCR till date. It has energy-efficient LED lighting with occupancy sensors to switch off lights when there are no occupants in the area. An Integrated Building Management System is provided to achieve an effective, safe, energy saving and comfortable solution including a highly scalable and robust architecture with seamless integration of heating, ventilation and air conditioning, fire alarm system, Closed Circuit Television (CCTV), public address system and other vital building systems, it said. The new complex will also be equipped with a state-of-the-art data centre for storage and retrieval of documents. Its IT-enabled security framework spanning 825 CCTV cameras will also be the most modern. The latest innovative design concepts and technology have been used to make one of the most ecologically clean buildings ever made. The building has consumed about 20 lakhs blocks made out of construction and demolition waste. No clay bricks have been used at the site saving about 35,000 MT of fertile soil. Design innovations also led to saving of 1,000 metric tonnes in steel consumption. The complex will be used for offices, storage of records, library, auditorium/seminar hall, conference halls, and litigants’ hall. Two sewage treatment plants have been provided for waste water recycling and reuse. There would be no municipal discharge with rainwater harvesting capacity of one lakh litres.

Source: IANS

EQ

SEPTEMBER-B 2019

33

Andhra Pradesh

Andhra Pradesh â&#x20AC;&#x201C; sending investors packing, even if contracts are upheld In early July 2019 the Government of Andhra Pradesh signalled its intention to make regulatory changes that would impact ongoing power purchase agreements with solar and wind developers.

T

his move to retrospectively cancel or renegotiate signed and ongoing renewable energy contracts puts 7.4 GW of installed solar and wind power capacity in jeopardy.

[1] The notification identifies areas of concern posed by renewable energy power but does not present any evidence on the nature or the quantum of losses due to backing down of thermal power. Nor does it furnish any data on the difference in the variable costs of thermal and solar and wind plants, which could help estimate

34Â

EQ

SEPTEMBER-B 2019

the additional burden on the utilities by the allegedly expensive renewable energy sources. The order directs tariffs to be revised downwards to INR 2.44/unit and INR 2.25/ unit respectively for solar and wind power, from date of commissioning of projects, or termination of PPAs with the discoms. Further, the must run status granted to solar and wind power plants in their PPAs is also being contested.

While several of the concerns raised by the AP government will be critical in assessing the scaling up of renewable power and could be factors to assess before future commissioning, the move towards cancelling, suspending, and renegotiating contracts sends a very poor signal to investors and developers, both in India and around the world. It raises concerns over the rule of law and the sanctity of contracts, in turn significantly hampering investor confidence in Indiaâ&#x20AC;&#x2122;s clean energy market.

www.EQMagPro.com

Andhra Pradesh

To understand the impact of the above, CEEW’s Centre for Energy Finance, analysed 23 affected solar projects by 9 power producers/developers. The projects considered for analysis, have a cumulative capacity of 2,132 MW and make up for 65 per cent of the total installed solar capacity of 3,307 MW in the state.[2] The total investment for these projects is estimated to be INR 10,000 crore (~USD 1.3 billion), with over INR 7,500 crore (~USD 1.07 billion) of debt outstanding.

List of projects reviewed and the impact on the revenue generation capacities

This proposed change in tariffs, of solar and wind power to INR 2.44/unit and INR 2.25/ unit respectively, if applied across to all the wind and solar power suppliers in state, will result in an adverse impact on revenues by over INR 3,550 crore every year for these projects (as per the tariff order of 2019-20). Individually, these wind power producers will see a revenue erosion of INR 2,100 crores of as against a sale of 8,866 million units of electricity during the year 2019-20.[4] Similarly, solar power developers would lose about INR 1,440 crore in revenues, against a supply of 7,200 million units of electricity to the distribution utilities in the state. As shown in table 2, the average tariff from both the wind and solar sources on average will be reduced by 48 per cent to INR 2.34 against the average tariff of INR 4.55 per unit of electricity.

Impact on the revenue streams of wind and solar power suppliers to the state of AP

Historically courts have upheld contracts barring cases of corruption. The AP High Court stay order on the renegotiation and cancellation of PPAs has helped alleviate some of the immediate stress on the power developers but the market continues to reel under the stress of renegotiation not just in Andhra Pradesh, but also in other states if this were to go unchecked. Further, despite the stay order, there has been rampant curtailment of renewable power, which has a similar impact on developer revenues. In the past, Change in Law clauses in PPAs have being invoked to seek reimbursements for developers for GST charges or pass through of safeguard duties. Renewable energy stakeholders have shown the necessary patience and trust in the legal process. However, in a rare instance if the Andhra Pradesh government is successful in this misadventure, we would begin to see DSCR of projects falling to 0.6x (i.e. inability of a project to meet the due debt repayments from the cash flows), leading to default or delay in debt repayments. Equity investors for these projects will also be staring at a reduced or negative equity returns. This may lead to termination of PPAs forcing developers to sell power in the open market. This ad-hoc policy decision is particularly harsh on developers for whom investments in Andhra Pradesh form a sizeable part of their portfolio. This will place a stress not only at the project but also at holding company level resulting in a capital crunch and huge losses due to the underlying guarantees (associated with the project/ SPV financing in India). In order to continue India’s rapid acceleration along the energy transition pathway, it will be essential to control the damage caused by this notification on industry and investor sentiment across the country and limit its adverse impact to Andhra Pradesh.

List of projects, offtaker, capacity and year of commissioning of projects considered for analysis

Source: cef.ceew.in

www.EQMagPro.com

EQ

SEPTEMBER-B 2019

35

TECHNOLOGY

INNOVATION: Renewable energy from recycled plastics Scientists have found a way to recycle plastics to create high value materials such as carbon nanotubes, which can not only conduct heat and electricity but also help reduce plastic waste.

W

hile a small proportion of the hundreds of types of plastics can be recycled by conventional technology, researchers from Swansea University in the UK found that there are other things that can be done to reuse plastics after they have served their original purpose. The research, published in The Journal for Carbon Research, focuses on chemical recycling which uses the constituent elements of the plastic to make new materials. While all plastics are made of carbon, hydrogen and sometimes oxygen, the amounts and arrangements of these three elements make each plastic unique. As plastics are very pure and highly refined chemicals, they can be broken down into these elements and then bonded in different arrangements to make high value materials such as carbon nanotubes.

36

EQ

SEPTEMBER-B 2019

Carbon nanotubes are tiny molecules with incredible physical properties. The structure of a carbon nanotube looks a piece of chicken wire wrapped into a cylinder and when carbon is arranged like this it can conduct both heat and electricity,” said Alvin Orbaek White, from Swansea University. “These two different forms of energy are each very important to control and use in the right quantities, depending on your needs,” White said. “Nanotubes can be used to make a huge range of things, such as conductive films for touchscreen displays, flexible electronics fabrics that create energy, antennas for 5G networks while NASA has used them to prevent electric shocks on the Juno spacecraft,” he said.

The team tested plastics, in particular black plastics, which are commonly used as packaging for ready meals and fruit and vegetables in supermarkets, but can’t be easily recycled. They removed the carbon and then constructed nanotube molecules from the bottom up using the carbon atoms and used the nanotubes to transmit electricity to a light bulb in a small demonstrator model. The researchers now plan to make high purity carbon electrical cables using waste plastic materials and to improve the nanotube material’s electrical performance and increase the output.

“The research is significant as carbon nanotubes can be used to solve the problem of electricity cables overheating and failing, which is responsible for about 8 per cent of electricity is lost in transmission and distribution globally,” White said.

www.EQMagPro.com

TECHNOLOGY

SOFAR G3 Better Customized For Residential Project More than 2,00,000 of households power plant are well operating in 60+ countries, inverters which produced by Sofarsolar won a good market reputation since 2014. Now in order to meet the demand of the market and give the customer a better experience, Sofarsolar launched the third generation of single phase inverter to the global market.

S

ofar G3 is an ultra-small residential solar inverter which is specifically designed to bring comfort and quiet operation as well as high efficiency to households. Its capacity ranges from 1.1kW to 3.3kW and its most outstanding characteristic is its light weight, which is only 5.5kg that can help installer to reduce the install time and improve work efficiency. As well as its simple, elegant appearance makes better integrate into the home environment and improve the level of life. Remarkably, it offers 40% overloading of DC input and itâ&#x20AC;&#x2122;s maximum efficiency can up to 97.7%, which brings high harvest to user and help users shorten the return on investment cycle of power stations. When users choose the Sofar G3 inverter for their power stations which communication options available on this inverter are both LAN & Wi-Fi, they will monitor their power stations in real time through android or apple phones and computer.

www.EQMagPro.com

Zhong qizheng, vice president of Sofarsolar has released comments stating that Sofarsolar is currently one of the top 5 string inverter companies through China, it earned an important position in the field of energy storage inverter. As the G3 inverter of Sofarsolar launched in the global market, it marks that the new generation of Sofarsolar inverter officially enters the market stage. Sofarsolar believes that global users for home inverter has a more ideal, new choice by many core advantages.

EQ

SEPTEMBER-B 2019

37Â

TECHNOLOGY

LED’s are the future, start using it

XENON based sun simulators have been the standard over the past 20 years in the PV industry. In the last couple of years, LED based sun simulators have entered the market and they are quickly gaining market shares. They are being offered by a number of different suppliers who have recently entered the solar sun simulator market, but still, the majority of module manufacturers rely on XENON technology.

What are the advantages of LED technology?

LED’s are energy saving, flexible, have a very long life cycle and are easy to control. They are used today in areas that were considered unimaginable a few years ago. Take the automotive industry as an example: there LED’s already replace XENON based headlights.

As so-called matrix lights, they are able to dynamically adapt to different traffic situations. Used in street lighting LED’s have replaced the metal halide lamps. And in people’s homes, they provide a warm, comfortable light while saving up to 80% energy and have a much longer life time compared to other lights. LED’s are replacing the existing light technologies in almost every area. And now it is time to do the same in the PV industry.

Probably the biggest advantage of the LED light source is its stability over time. This is evident when comparing the repeatability of a LED and a XENON based sun simulator. The graph below shows the results of a repeatability test with the new MBJ sun simulator. The standard deviation of Impp is only 0,005% which is much better than any result you can achieve with a XENON type flasher. In a direct comparison of a XENON sun simulator to the MBJ third generation sun simulator our customer has recently confirmed that MBJ can achieve a 10x better results with the new technology.

What are the benefits of LED's in a sun simulator?

Regularly replacing the light source, as it was necessary in a XENON sun simulator, is no longer required due to the very long LED life cycle. LEDs can be controlled very well. Properly designed, it is easy to adjust and keep the homogeneity of the measurement area, to keep the brightness constant over time, to optimize the spectrum and to adjust the light output. All these parameters can be optimized for the sun simulators certification. A change of the spectral distribution, as called for in the revised norm IEC 609049 Ed.3, can be controlled via software. The light output is easily adjustable. Measurements at different power levels, e.g. at 200 W/ m² and at 1000 W/m² are possible at the push of a button. Another advantage is the flash duration. Depending on the design of the light source, flash durations of significantly more than a hundred milliseconds can be achieved. Even continuous light is possible with sufficient cooling.

38

EQ

SEPTEMBER-B 2019

www.EQMagPro.com

TECHNOLOGY Why can we see such a difference? It is the better behavior of the LED, which means it is the better technology!

Letâ&#x20AC;&#x2122;s have a look at the long flash duration possible with a LED sun simulator, but difficult to achieve with a Xenon sun simulator. In many cases, the short flash duration of the Xenon flash is sufficient.

However, the short flash duration becomes a problem as the capacitive effects of a solar module increases. This is more and more often the case with newer module concepts. To measure these new module types accurately the flash duration plays a significant role. In sun simulators with a flash duration of more than 100 milliseconds, also called steady-state flasher, the effect does not occur, see Monokroussos [WO2013 / 170422A1]. For sun simulators with shorter flash duration, he suggests various methods to eliminate these measurement errors. Averaging forward and backward measurement of the currentvoltage characteristic and stepwise measurement are two methods presented there. With various module types, such as heterojunction technology (HJT), even a flash duration of 100ms is not sufficient, as the following example shows.

The following figure shows the current-voltage characteristic measured with a LED sun simulator (flash duration > 100ms) for a standard 60-cell poly module. In all measurements, whether forward, backward,

or stepwise forward and backward, the curves are almost congruent. This behavior is different for a HJT solar module. There, despite the long flash duration of more than 100ms, significant differences in forward and backward measurement are visible in the MPP. These effects can only be eliminated with stepwise measurements. During the stepwise measurement the long flash duration possible with the LED sun simulator provides additional help: it allows the exact measurement of each step even with high module capacities.

www.EQMagPro.com

EQ

SEPTEMBER-B 2019

39Â

TECHNOLOGY Nevertheless, XENON based sun simulators are still used in new production lines. The reason for this is the better spectrum match compared to the first generation of LED sun simulators. But is this still true for today’s next generation of sun simulators? The graphs below show the spectra of two different XENON based and one first generation LED sun simulator. It shows the difference in the spectrum can be great even within the XENON technology. In the XENON type A simulator light is missing in the range below 400nm and large local spectral deviations to the solar spectrum (spectral deviation SPD) are visible (red line). Filters can be used to optimize this behavior (see type B Xenon sun simulator graph). It is an advantage that both offer light up to 1200nm.

The next graph shows the spectrum of the second generation MBJ LED sun simulators (Type A) using 6 different type of LED's. It also misses the range below 400nm, shows a gap around 800 and does not offer light above 1000nm.

All three sun simulator spectra shown above meet the spectral criterion A+. One could argue that when a sun simulator fulfills the spectral criterion A+ it does not make a difference how criterion A+ is met. But there are reasons why this should not be done. The TÜV has listed typical sources of errors for sun simulators in various publications. According to them the spectrum, more accurately the spectral mismatch, is one of the significant sources of error in the power measurement.

For example, PERC cells achieve higher efficiency through increased absorption in the spectral regions below 400nm and above 1000nm. This means that local spectral deviations from the solar spectrum (spectral deviation SPD) has a relevance for the result as well as the overall spectral coverage (SPC). The measurement error can be reduced by referencing the sun simulator with a reference module of exactly the same bill of material (cell material, EVA material ...). During referencing, the light output is adjusted so that the measured value for Isc corresponds to the expected value of the reference. Uoc is almost independent of irradiation and maximum power can be adjusted to the reference values by a fill factor correction. The process is well applicable, as long as you ensure that the bill-of-material is always the same. But this cannot be fully ensured during production. The market dictates that one constantly adapts to new materials which leads to a rapid change in the bill-of-materials. Thus a differences between the reference module and the modules produced occur, leading to potential measurement errors. It also makes it impossible to really measure new developments and improvements in solar modules with the first generation of LED sun simulators. A reference module of the same material type must be used to make correct measurements.

Driven by these arguments MBJ has developed their third generation of LED sun simulators. The MBJ second generation LED sun simulator with 6 different LED types had been optimized for lowest cost of ownership to achieve A+A+A+. It is still a good option for standard cell material but not capable to measure future cell types (e.g. PERC cells) increased performance sufficiently, as it offers no light below 400nm and above 1000nm. Now, the third generation of MBJ LED sun simulators offers light below 400nm and above 1000nm. With 14 different LED’s the spectral coverage reaches a new level for LED sun simulators and makes the system fit for the future and it’s challenge to measure new type of cells accurately in development and production. The third generation MBJ sun simulator is also designed to meet the new larger cell and module sizes (modules up to 1,050x 2,200 mm). A bi-facial option is also available. The sun simulator can be combined with our EL and hi-pot tester to form the MBJ backend solution.

40

EQ

SEPTEMBER-B 2019

www.EQMagPro.com

TECHNOLOGY

ABB to Exit Solar Inverter Business, FIMER to acquire ABB and the Italian company FIMER S.p.A announced that they have signed an agreement for FIMER to acquire ABB’s solar inverter business. The transaction will enhance the future prospects of the solar inverter business and will enable ABB to focus its business portfolio on other growth markets.

A

BB’s solar inverter business has approximately 800 employees in more than 30 countries, with manufacturing and R&D sites located in Italy, India and Finland. It includes the solar inverter business from Power-One which was acquired by ABB’s Discrete Automation and Motion division in 2013. The business offers a comprehensive portfolio of products, systems, and services for different types of solar installations. It is currently within ABB’s Electrification business and achieved revenues of approximately $290 million in 2018. Both companies will ensure a smooth transition for customers and employees. FIMER will honor all existing warranties and ABB will compensate FIMER for taking the business and its liabilities over. As a result, ABB expects to take an after-tax non-operational charge of approximately $430 million in the second quarter of 2019 with the half-year results of 2019 being impacted accordingly. Around 75 percent of this charge is represented by cash outflows ABB will pay to FIMER from the deal closing date through 2025. In addition, ABB expects up to $40 million of carve-out related separation costs starting in the second half of 2019.

After closing of the transaction, ABB expects the operational EBITA margin for the Electrification business to be impacted positively by slightly more than 50 basis points, supporting the business’ progress towards its target margin corridor of 15-19 percent.

Tarak Mehta, President of ABB’s Electrification business: “The divestment is in line with our strategy of ongoing systematic portfolio management to strengthen competitiveness, focus on quality of revenue and higher growth segments. Solar is a well-established and key focus for FIMER and as such we believe them to be a very good owner for ABB’s solar inverter business.

The combination of the portfolios under FIMER will support further sales growth. Through our intelligent low- and medium-voltage offering, ABB will continue to integrate solar power into a range of smart solutions including smart buildings, energy storage and electric vehicle charging.”

Filippo Carzaniga, Chief Executive Officer of FIMER: “We are glad to announce this further step in our development as FIMER’s focus on the solar business will be greatly enhanced by this integration. Our commitment to positively influencing the energy market will be realized through the development of new product platforms and innovative digital technologies. We will continue the excellent job carried out by ABB in recent years, combining precious resources, knowledge and expertise in Italy and worldwide. With a strengthened portfolio, we are better placed to shape the future of this increasingly strategic business.”

Source : businessinsider

www.EQMagPro.com

EQ

SEPTEMBER-B 2019

41

exclusive interview

D.V. Manjunatha Managing Director, EmMvee

EQ: How much modules have you supplied to India till now, what is the target/expectation in 2019-2020.

DVM: Emmvee supplied 1GW till date and in financial year 2019-2020 target 400MW. EQ: The recent aggressive bidding by various developers keeping Solar Tariffs in the price range of Rs.2.44-3.3 per kWh in various Solar Tenders…

What’s your view on the viability, Costs & timeline pressures, Resource Challenges (Materials, Manpower, Execution, Grid Connection, Land Possession) etc…

DVM: The recent price bid is definitely very challenging to achieve. The prices of the solar cells and modules are already showing upward trend and we foresee that the prices of cells will continue to grow further due to the strong demand in China and other Countries. This could put lot of pressure on the developers who have bid at such prices.

EQ: Kindly enlighten our readers on the performance of your modules in

42

EQ

SEPTEMBER-B 2019

India in various geographic locations, customer feedback.

EQ: Please describe in brief about your company and objectives.

DVM: In India too, the company has successfully completed power projects aggregating to a total capacity of 150 MW as on date, which also includes roof top projects.

Many reputed developers like BHEL, Tata Power, NTPC, Amplus, IC India and many more have used the modules produced by Emmvee in their projects and are extremely satisfied with the products. The company is also in the forefront in using Green power to meet the electricity needs of its manufacturing facility. It has its own 1MW power plant installed on the roof of its manufacturing facility.Emmvee also very active in EPC space of large solar photovoltaic based power projects. The company has a great deal of experience in developing and commission many power projects in Europe. The company owns and operates 4 power plants in Germany. So far the modules that have been sold in Europe have shown remarkable performance and until now we have not had any claims from our customers in Europe. In fact many customers reported a very good energy yield and performance; they are very much satisfied with our modules.

DVM: Emmvee is the market leader in solar industry with global presence. From the time of its inception in 1992, the company has always been pioneer in the solar sector, consistently setting new trends with its comprehensive system solutions. Emmvee, manufacturer of photovoltaic modules and solar water heating systems with 2 specialized manufacturing facilities and employs over 700 people. Emmvee is headquartered in Bengaluru. Our objective is to become the global leader in manufacturing highly qualitative, innovative and cost-effective solar water heating systems as well as solar photovoltaic modules and systems that will provide clean, reliable energy sources around the world.

EQ: What is the size of your company in terms of manufacturing capacities, growth chart, future expansion plans, revenues, shipments, ASP’s, financial figures.

DVM: Emmvee, manufacturer of photovoltaic modules and solar water heating systems

www.EQMagPro.com

exclusive interview

EQ: What are your plans for manufacturing set up in India, the opportunities and challenges in manufacturing in India?

DVM: We already have full-fledged manufacturing facility at Bengaluru at the moment we are having 0.5GW and we are planning to enhance the production as far the market demands.

with 2 specialized manufacturing facilities in Bengaluru.Emmvee is committed to meet our existing and prospective customers emerging needs in the field of Solar Technology. Anticipating the needs of our Customers/Clients, the state-of-the-art fully automated manufacturing facility is situated in Bengaluru. Emmvee wants to play a very dominant role in solar PV scene of India. Emmvee has at present 0.5 GW per year solar module manufacturing capacity and has plans to expand as per the market development and needs in future. It produces high quality photovoltaic modules using the latest and best machines; have a unique modular system offering higher productivity with optimized processes.

EQ: How much is your R&D budget as % of your sales / profits.

DVM: Emmvee invest 2.5% sales towards R & D budget.

EQ: What are the top 5 markets for your company in the past, present and future?

DVM: India, Germany, South Africa & Middle East countries.

EQ: As a manufacturer, kindly share your plans to foray as developer or equity investor in solar PV power projects.

DVM: At Emmvee we would like to focus more into module production.

EQ: What are the trends in new manufacturing technology equipment, materials, processes, innovations etc…?

DVM: At Emmvee, we are able to do stringing of solar cell at a very high speed about 5550 cells/hrsin a single machine.

This machine is very sophisticated and completely automated. The machines can string 5, 6 PERC and bifacial solar cells.

PERC solar modules are now getting lot of attention and many companies have already switched over to PERC solar modules. On the materials side, we see lots of improvement in Back sheet designs; they are getting better and cheaper. EVA is being replaced polyolefin silicones which are having better properties and ease to produce modules with these materials.

EQ: What’s your commitment towards the solar sector in India?

DVM: Emmvee thrive towards qualitative and quantitative optimization in providing customers with Sustainable Wide Ranging Solar Power Solutions.We believe in quality and our infrastructure, specialist staff and engineers, and state-of-the-art process make sure we achieve optimum production quality and well satisfied customer .We are committed to offer highly reliable product and solar power solution.

EQ: Kindly highlight your product, technology & company USP’s, distinctive advantages etc…

DVM: Emmvee brings the top class On-grid and Off-grid modules for various applications.

It has always been in the forefront of technology adaptation in the manufacturing facility.

Emmvee is the first company in India to install high speed stringer and multi-stack laminators manufactured by German companies.

Photovoltaic power can be reliable only if modules are able to perform in the harsh weather conditions for more than 25 years and to achieve this, the module have to meet stringent quality requirements. As the market matures , more and more developers are looking for high quality modules and Emmvee always ensures that the quality requirement of the developers are met through high tech manufacturing process and raw materials .

Emmvee sources the raw material from the best companies’ worldwide.

www.EQMagPro.com

EQ

SEPTEMBER-B 2019

43

exclusive interview

Mr. Ketan Mehta Managing director rays power infra pvt. ltd.

44Â

EQ

SEPTEMBER-B 2019

www.EQMagPro.com

exclusive interview Q.-1: 100GW by 2022..Is this Really Achievable?

What are the Opportunities & Road Blocks?

Q.-6: Opportunity & Challenges in Open Access, Captive & Group Captive Models

KM: We believe in the current scenario the industry is likely to achieve anything between 70-80% of the set target, the challenges that the developers are facing to achieve the set target include Financing, land availability and the present evacuation infrastructure. Once these challenges are looked after there is no hindrance in the way of achieving the set target.

KM: There is a huge scope for Open Access to grow, Because of differential in the power tariffs between commercial and solar huge and everybody is paying over INR 7-8/ unit which is not the right cost for power today, so they should be given the right to use open access power in group captive mode so that the manufacturing becomes competitive, solar is one such option. The challenge being the DISCOMS as they do not allow solar power and cause roadblocks as they fear of losing out on their customer but the fact is they are not looking at a bigger picture that due to healthy manufacturing there would be jobs and opportunities would increase which would eventually bring in more revenue.

Q.-2: Challenges like Grid Curtailment, PPA re-negotiation, Delay in Payments.

KM: The must run status needs to maintained i.e. nobody can curtail or shutdown a solar plant. Though there are penalties in case of a plant shut down but they are not stringent in implementing these penalties. As per the latest order of Power ministry in case of shut down of a solar plant, it needs to be compensated by actual full rate of the revenue but the implementation of the same is yet to happen. Also there is an interest on payment in case of delayed payments which the DISCOMS are not releasing.

PPA- negotiation at the very same time is sending out a very wrong signal in the market and the foreign investors are now scared to invest in such projects. The fear is what is happening in Andhra can also be opted by other states leaving Developers and investors in uncertain position.

Q.-3: Exit Strategies : INVITS, Asset Sale, M&A, Challenges in IPO. KM: INVITS no doubt is a good option, but currently there are no INVITS in the Solar sector, though we look forward to having INVITS in renewable sector in coming few years. That would be a lucrative exit option for assets. If you talk about IPO’s, no company has been able go for IPO on the IPP side in India. Unless the returns are improved, IPO will remain a challenge and for that the bids need to be more realistic than aggressive. The kind of returns expected by the investors are higher than most of the bids that are aggressive in nature and hence the asset sale also remains a challenge. Asset sale would be possible only when the quality of the equipment used is of the highest standard and that’s what guarantees the investor that the Asset would run smoothly for 25 years.

Q.-4: Challenges in Adoption of Mono-Perc, Bifacial etc.

KM: In European and American markets because the input cost of labor and land is higher, the these high efficiency modules make a substantial difference in savings but in India because the labor and land cost are too low hence high efficiency panels will take more time to get adopted. Again because of low bids that are happening it has become a challenge to adopt these modules.

Q.-5: Market in 2020 after Safe Guard Duties..Do you think any sort of Anti Dumping or Safeguard duty will come again after August 2020.

KM: Safeguard Duty has failed to give any results because people are either delaying their projects or have a pass through in their projects. Also anti dumping or any other future duty like this would be detrimental as it would create uncertainty in the market and the target of 100GW or for that matter 70GW would become really hard to achieve. So it’s better to incentivize the local manufacturing instead of putting duties as this way local manufacturers would never become competitive in their pricing.

www.EQMagPro.com

Q.-7: Challenges in Raising of Debt Finance - Banks, NBFC's etc...

KM: NBFC’s are currently struggling with the funds due to liquidity crunch and banks are not that keen on funding long term budget finance, though a few projects are getting financing basis one’s project plan, track record, design and Project management is proven. Hence, only established players are getting their projects financed. As a company Rays Power Infra is comfortable in raising these funds, but the same is not generic to others.

Q.-8: Why developers are not selling power on IEX and challenges in evolving Merchant Power Market.

KM: IEX is an uncertain market and the power tariffs vary on a daily basis and for any solar project you need a long term commitment on the power offtake, without that raising project funding is not possible.

So IEX is not that certain a market where you can sell your power at certain minimum rate.

Q.-9: Energy Storage is the need of the hour…Kindly comment.

KM: It’s a need of the day as the grids will become unstable if there is more power gets pumped in the afternoon. So there needs to be energy banks and storage solutions where power can be stored and supplied at the time of peak power demand. It’s now important that time-ofday tariffs are announced so that the consumer can store power at the day time and utilize the same at peak hours. Even the power generators need to follow the suite to be able to cater to the peak demand. If storage solutions come in place we can look at achieving our target of 100GW. We are working on developing energy storage solutions both on e-mobility side and solar. We are in testing phase for those solutions. When the policies are right and there are enough opportunities available, we’ll be ready for the market with the same.

Q.-10: Difficulty in getting pass through and CERC announcement of reimbursement of the safeguard duties to developers KM: Safeguard duty pass through will be a long drawn process, whatever reimbursement happens has to happen with finance cost built into that, so that whatever delay happens are paid for in form of finance cost or interest cost also it should have a standard process and the DISCOMS should be guided to follow the same and not delay.

There is a huge carrying cost on this duty so even with a pass through it might take years, hence the process should be time bound and whoever does not do in that, the defaulter should be asked to pay the pass through along with the carrying cost. Also the banks should pushed to fund the duty component so that there is no additional burden on the developers.

EQ

SEPTEMBER-B 2019

45

RESEARCH & ANALYSIS

COAL vs RENEWABLES

FINANCE ANALYSIS

46Â

EQ

SEPTEMBER-B 2019

www.EQMagPro.com

RESEARCH & ANALYSIS This analysis examined 52 project finance deals comprising a loan component, across 54 coalfired power and renewable energy projects (defined as hydroelectric, geothermal, wave, wind and solar power projects), with a financial close date from 1 January 2018 to 31 December 2018. Deals were identified via investigation of subscription-based financial databases provided by Bloomberg Professional, IJGlobal, Thomson Reuters and market disclosures.

www.EQMagPro.com

EQ

SEPTEMBER-B 2019

47Â

RESEARCH & ANALYSIS

48Â

EQ

SEPTEMBER-B 2019

www.EQMagPro.com

RESEARCH & ANALYSIS

www.EQMagPro.com

EQ

SEPTEMBER-B 2019

49Â

RESEARCH & ANALYSIS

50Â

EQ

SEPTEMBER-B 2019

www.EQMagPro.com

RESEARCH & ANALYSIS

www.EQMagPro.com

EQ

SEPTEMBER-B 2019

51Â

RESEARCH & ANALYSIS

52Â

EQ

SEPTEMBER-B 2019

www.EQMagPro.com

RESEARCH & ANALYSIS

www.EQMagPro.com

EQ

SEPTEMBER-B 2019

53Â

RESEARCH & ANALYSIS

54Â

EQ

SEPTEMBER-B 2019

www.EQMagPro.com

pv manufacturing

By DuPont Photovoltaic Solutions

T

he DuPont Global Field Reliability Program is a highly developed field inspection and analysis program that tracks material degradation and its effect on module performance.

This 2019 field analysis was compiled from inspection and analysis

by DuPont teams of nearly 2 GW of PV installations around the globe. While our field analysis looks at all component materials, we focus special attention on backsheet durability, which plays a critical role in ensuring modules will last long enough to reach the financial objectives of their owners.

www.EQMagPro.com

6.5M Modules

2019 Study 355 Installations

With 1.8 GW of fields inspected, the following observations were made: Total module defects: 34% Total backsheet defects: 14% Backsheet defects increased 47% from 2018 Cracking comprises 66% of all backsheet defects

1.85GW Total power

Compared to the analysis from 2018: The number of fields grew from 275 to 355.

The number of panels increased from 4.2 million to over 6.5 million (1.04 GW to 1.8 GW).

Overall module defect rates increased since 2018.

Year-over-year backsheet defects increased 47%.

EQ

SEPTEMBER-B 2019

55Â

pv manufacturing

56Â

EQ

SEPTEMBER-B 2019

www.EQMagPro.com

pv manufacturing

www.EQMagPro.com

EQ

SEPTEMBER-B 2019

57Â

RESEARCH & ANALYSIS

In SECI and NTPC PPAs, Discom Profile is Integral for Counterparty Analysis India Ratings and Research (Fitch Group) believes the analysis of counterparty profiles of distribution companies (discoms) has gained prominence in revenue risk analysis. The latest power purchase agreements (PPAs) of Solar Energy Corporation of India (SECI) and NTPC Limited (‘IND AAA’/Stable) articulate that tariff payment obligations (on monthly bills and supplementary bills which include change in law amounts) are a direct obligation on the intermediaries. Hence, SECI and NTPC PPAs fare better on tariff payment obligations compared to directly selling to discoms. However, every obligation, other than tariff payment obligation, needs to be met by SECI and NTPC only to the extent the same obligations are met on a back-to-back basis by discoms.

T

his is the third of series of opinions from Ind-Ra on the renewable sector. First was about frequent disruption in receivables for renewable projects, specifically on the delays in payment from distribution utilities of Andhra Pradesh and Telangana.

Second was about the nuances and relevance of obligor and co-obligor structure for renewable projects.SECI has the highest tender pipeline (19GW) and the financing of future projects depends on the features of SECI PPA. While signing PPAs with SECI and NTPC is perceived to be better than having PPAs with discoms directly, the intricacies of obligations under SECI and NTPC PPAs indicate significant dependence on back-toback performance by buying discoms. Also, the latest NTPC PPA has tariff adoption by the relevant State Electricity Regulatory Commission for the discom that has signed back-to-back power sale agreement (PSA) as condition precedent. In earlier PPAs, such a clause was absent. In case tariff adoption is not completed within two months of signing PPA, the PPA will stand cancelled, unless the timeline for adoption is mutually extended.

Obligations such as creating payment security mechanism and paying compensation for grid issues are to be complied on a back-to-back basis if discoms meet those obligations. Ind-Ra believes the proposed payment security mechanism for power projects, notified on 28 June 2019, is fraught with implementation challenges and the benefits of payment security mechanism are unlikely to accrue to the project companies as already evident in the lax conformance to the creation of letter of credit under SECI PPAs. None of the Ind-Ra-rated project companies selling power under SECI PPA have received letters of credit for one month’s billing. Delayed payments under power sale agreements with discoms and repudiation of PPA by discoms could trigger an event of default in the PPA signed by the project company with SECI or NTPC. While SECI and NTPC could make efforts to find an alternate buyer, the provision for termination based on repudiation by discoms indicate the risk exposure to discoms. Ind-Ra believes that the risk of the event of default triggering because of discoms repudiating PPAs is low to medium in the long term as SECI and NTPC are central government entities.

This might continue to support renewable energy development through the backing of government policies, which are supportive of renewable capacity addition. Also, in the latest NTPC PPA, the back-to-back discom counter

party is referred to explicitly (unlike in the earlier version) in the PPA signed between NTPC and project company, leaving no doubt about which discom the ultimate counterparty is and avoiding the interpretation that there is pooling of counterparties with respect to each PPA signed by NTPC. Thus, the counterparty risk analysis has to take into account, at least to some extent, the risk profile of the back-to-back counterparty despite the PPAs being signed with SECI or NTPC and government renewable policy framework is a significant factor contributing to higher counterparty strength attributed to SECI and NTPC. Provisions regarding contracted power offtake and penalties for underperformance, compensation for grid issues, timelines during construction period and consequences of event of default have changed or been included in present PPAs compared to those signed in 2016. The analysis is based on several PPAs of SECI and NTPC signed in 2016 and 2019. A detailed review of major PPA clauses and their impact on credit analysis of renewable projects is presented in the accompanying report.

Source: indiaratings.co.in

Source: indiaratings.co.in

58

EQ

SEPTEMBER-B 2019

www.EQMagPro.com

ELECTRIC VEHICLES

The solar transformation of electric vehicles A combination of government initiatives, infrastructural support, and grassroots-level policy implementation will play a pivotal role in achieving India’s goal towards sustainable development.

T

he Indian economy is currently on its way to becoming one of the fastest developing countries, and is expected to be valued at $3 trillion, this year itself. Furthermore, with consistent investment towards infrastructural and policy reformations, India is, in fact, projected to grow into a $5 trillion economy, within the next few years. This path to development and innovation has also led to increased energy demands, which traditional means of energy are unable to fulfill. Thus, the role that renewable energy plays in making India a solar-reliant country is a critical part of its growth story. A resource-rich country, India’s geography provides with a unique opportunity to utilise multiple forms of unconventional energy, in order to satisfy its growing energy needs, such as solar, wind, and hydro energy. On this pathway to sustainability, the major focus of the country has been towards the solar industry, owing to the country’s tropical nature. Recently, the Indian government has further amplified its ambitious goal to achieve 260 gigawatt (GW) of renewable energy capacities by 2024, which indicates the potential of the solar industry in the Indian market. The focus is currently on storage solutions, as the primary hurdle for renewable energy is ensuring its constant availability. A vital part of the energy transition in India has been the growth and promotion of electric mobility through electronic vehicles (EVs). The 2030 Vision announced by the government indicates that 30 per cent of vehicles on Indian roads would be EVs. According to the Society of Manufacturers of Electric Vehicles, the EV industry in India currently has a substantial growth rate of 124 per cent. With India being the fourth-largest automobile market in the world, electrification of the transportation system will be key to achieving India’s sustainable goals. Positive schemes such as the Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME) have made remarkable strides towards the growth of the sector. Most recently, the government has made a substantial allotment to the FAME-II scheme with an Rs 5 billion budgetary allocation, focused towards demand incentives for EV adoption, as well as the creation of charging stations across the country.

Following the set-up of mechanisms to boost production of EVs, the next step to progress would be the installation of charging stations to support the increasing number of EVs on the road. With remarkable steps being taken in the EV sector, there is substantial potential within the industry for the growth of the solar industry as well.

www.EQMagPro.com

For the EV sector, perhaps one of the biggest hurdles is keeping the batteries charged, and setting up charging infrastructure to facilitate the same. Technological advancements have made it possible to fit innovative PV modules in EVs to power them.

These kinds of modules are often portable, flexible, lighter, durable, and more efficient, thereby making them ideal for vehicles. The easy stick-and-peel application of such modules clearly makes them the future of charging EVs “on the move”.

These modules are expected to keep EV’s charged for a longer period, therefore making them the more efficient option. Additionally, the government has also announced its intention to setup 1,000 charging stations for EVs, all across the country. The establishment of these charging stations is an integral step in India’s journey towards e-mobility. The government has even provided 50 per cent to 100 per cent subsidies to companies that take the initiative to establish such infrastructure. In order to fully cater to the growing EV segment and the high energy requirement of these stations, the Ministry of Heavy Industries has advised that they should be linked to grid-connected solar plants, to ensure green energy for EVs. The way forward, in light of this, must also involve legislative mandates to Indian automobile manufacturers to ensure that a specific part of their total production consists of EVs or other electrified offerings.

Furthermore, the NITI-Aayog is also considering a proposal of banning all internal combustion engine two-wheelers under 150cc by 2025 and three-wheelers by 2023, which could provide significant impetus to the shift to EVs. A combination of such government initiatives and infrastructural support, along with grassroots-level policy implementation, will play a pivotal role in achieving India’s goal towards sustainable development, in the years to come.

Author Sunil Rathi

Director, WAAREE Energies Source : economictimes

EQ

SEPTEMBER-B 2019

59

ELECTRIC VEHICLES

KSL Cleantech plans Rs 200 crore investment on electric vehicles venture Kolkata-based KSL Cleantech plans to invest around Rs 200 crore in the next three years on development of electric two- and three-wheelers and expanding manufacturing capacity besides sales and marketing of the products, according to a top company official.

T

he company, which has been primarily into the solar power space for the last 10 years, is also in talks with global firms for partnering in its electric mobility venture in areas including product development and supply of components such as lithium ion batteries.

We have drawn up a plan for three-year horizon. We plan to invest around Rs 200 crore across manufacturing, product development, marketing and branding. It will also include development of essential components, which has been now prescribed by the government to be indigenised, KSL Cleantech Ltd Managing Director Dhiraj Bhagchandka told .

KSL Cleantech has been selling its electric three-wheelers under the Electeca brand, primarily in north and central India. It has a production capacity of around 10,000 units annually at its assembly unit near Kolkata.

With the latest impetus on electric mobility across the country by the government, electric vehicles happen to be a natural extension of our business. It is time for us to also get into electric two-wheeler space, he added. Asked by how much the company was planning to enhance its production capacity, he said, “We will scale up in line with the industry growth. We are hoping to multiply it two to three times (of the current capacity)”. He said the Indian electric two- and three-wheeler sales currently stand at around 8 lakh units annually.

60

EQ

SEPTEMBER-B 2019

Elaborating on the company’s product launch plans, Bhagchandka said, “To start with, we will certainly go for the scooter category, because that is the more accepted product and has good demand in the Indian market today. We will be launching a few models and try to cater to different prices points and utilities.”

He added that with the FAME II scheme in place, the company “will definitely want to take advantage of it. We are working with FAME II as one of the factors and we will be launching our models accordingly in the next 12 to 24 months.” Bhagchandka said a significant percentage of the company’s products will be lithium ion technology based, considering its advantages as well as the push from the government for it. He, however, said, “It is very difficult to say at this stage if we will be converting the entire fleet (three-wheelers) to lithium ion. We might retain a few of the lead acid models depending on how the market evolves.” On partnership, he said, “We are in advanced stages with some global companies to partner with us in this venture.” Without elaborating further, Bhagchandka said, “We are in advanced talks with global (battery) suppliers and also in India lot of companies are in advanced stages of setting up lithium ion battery units, we are in talks with them also for supply options.”

Source: PTI

www.EQMagPro.com

ELECTRIC VEHICLES

Govt invites proposals for deployment of EV charging infra under FAME-II The government has invited proposals from entities for the deployment of electric vehicle charging infrastructure in big and smart cities.

Proposals are invited from entities that intend to develop EV charging infrastructure in million-plus cities as per the 2011 census; and smart cities as notified by the Ministry of Housing and Urban Affairs, the Ministry of Heavy Industries said.

I

t also invited proposals from satellite towns connected to seven metros (Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Bangalore and Ahmedabad); major cities of special categories State/UTs; and the capital city of all states/ UTs not covered in the above categories.

“Initially, 1,000 EV charging stations are earmarked for deployment through this EOI. These charging stations will be sanctioned to different states/cities/entities after evaluation of the proposals received under this EOI,” the Heavy Industries Ministry said.

It further advised that to the extent possible charging station should be connected with ‘grid-connected solar power plant’ of required capacity as per MNRE guidelines so as to ensure grid stability and green energy for electric vehicles.

The last date for submission of the proposals is August 20, the ministry said in the Expression of Interest (EoI). The government recently approved Phase-II of the FAME India Scheme [Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India], for three years commencing from April 1, 2019 with a total budgetary support of Rs 10,000 crore.Under Phase-II of the scheme, the government intends to support development of EV charging infrastructure by extending capital grant to different organisations working with city government for the promotion of use of electric vehicles (EVs).

Source: PTI

www.EQMagPro.com

EQ

SEPTEMBER-B 2019

61

ELECTRIC VEHICLES

5,645 electric buses sanctioned for 65 cities :Amitabh Kant

[

[

The GST Council headed by finance minister Nirmala Sitharaman decided to cut the tax rates on e-vehicles from 12 per cent to 5 per cent with effect from August 1.

Niti Aayog CEO Amitabh Kant said an inter-ministerial panel has sanctioned 5,645 electric buses for operations in 65 cities, a move seen towards environment-friendly mobility.

The inter-ministerial committee for EVs sanctioned 5,645 electric buses for intracity operations in 65 cities and for intercity operations to 8 state transport undertakings. This will give huge impetus to automobile sector, clean up our cities & drive Make in India, Kant said in a tweet.

62Â

EQ

SEPTEMBER-B 2019

T

he Centre has been taking initiatives to popularise environment-friendly electric vehicles. In the Union Budget 2019-20, the government proposed additional income tax deduction of Rs 1.5 lakh on the interest paid on loans taken to purchase electric vehicles. Besides, certain parts of EVs have been exempted from customs duty to further incentivise e-mobility in the country.The Centre has also approved Rs 10,000 crore under the FAME II scheme, which aims to encourage faster adoption of such vehicles by right incentives and charging infrastructure.

Recently, Kant had said electric vehicles are a sunrise opportunity as India has over 72 per cent two-wheelers.

Niti Aayog has proposed that two-wheelers below the capacity of 150cc sold in the country after March 31, 2025, should be electric ones only. It also proposed that three-wheelers sold in the country after March 31, 2023 should be electric ones.

Source: PTI

www.EQMagPro.com

ELECTRIC VEHICLES

50 centres to charge electric vehicles to come up in Hyderabad The GHMC signed an MoU with the EESL in this regard, a GHMC release said. GHMC Mayor Bonthu Rammohan said EESL would set up the public charging centres at 50 places belonging to the GHMC

[

Fifty centres to charge electric vehicles would be set up in Hyderabad, the Greater Hyderabad Municipal Corporation (GHMC) said here

www.EQMagPro.com

T

he GHMC signed an MoU with the EESL (Engery Efficiency Services Ltd) in this regard, a GHMC release said.

GHMC Mayor Bonthu Rammohan said EESL would set up the public charging centres at 50 places belonging to the GHMC.

EQ

SEPTEMBER-B 2019

63Â

international

Vietnam Solar Surprised in 1H 2019

The solar markets in Vietnam and Ukraine have boomed in 1H 2019, with developers working with local banks to bring projects online. BloombergNEF 4.46GW revises its solarforecasts for these countries, and our estimates for 2018 build in the US and Egypt.

BloombergNEF and other observers knew there was a rush to build solar in Vietnam before a June 30, 2019 deadline for a feed-in tariff. However, this boom was much stronger than the 850 MW expected 2.3-2.6 GW. State utility Electricity Vietnam (EVN) reports 82 projects with a combined capacity of 4.46 GW connected to the grid by the deadline, more than 500% of the Vietnam's 2020 solar capacity target of 850MW. Another 13 projects, totaling 630MW, are expected to come online by the end of the year.

Vietnam's solar boom has been made possible by local and regional banks, which provided finance where international lenders were cautious about the feed in tariff, the projects and the lack of an international arbitration clause in the contracts. Local banks involved in solar project financing include Vietnam Prosperity JSC

64

EQ

SEPTEMBER-B 2019

Bank, Vietnam Bank for Agriculture and Rural Development, and Bank for Investment and Development of Vietnam JSC. EVN was also reported to have worked around the clock in May and June to grid connect as many projects as possible.

Vietnam's commissioned solar capacity now exceeds available grid capacity in some provinces, including Ninh Thuan, Binh Thuan and An Giang. Two wind projects and 22 solar projects were ordered to curtail generation of up to 65% of capacity, hitting revenue as, under the terms of the incentive program, they are only paid for power delivered After the boom comes a bust. We have revised our Vietnamese new solar lorecast for 2020 down from 1.000MW to 500MW. as the government is in no rush to implement the next mechanism. It has shared a few drafts of the next solar feedein tarifl scheme, but not announced the final structure Ukraine is also in the middle of a larger-than-expected 2019 solar boom, with 684MW installed in 1Q 2019 according to the National Energy and Utilities Flegulatory Commission We have revised our 2019 estimate up from 09—1 .5GW to 2.5—3.5GW, as the permitting

www.EQMagPro.com

international

and policy environment appears to be transparent and helpful to developers. There is a deadline at the end of 2019 for the current feed-in tariff of 150 euros per MWh, which will be paid until the end of 2029, but some projects can get an extension to 2020 it they accept a lower tariff of 112 euros/MWh. These are paid until the end of 2029 regardless of when they commission, so there was some incentive for developers to build as quickly as possible. The government is expected to move to an auction system in 2020 with about 300MW per year on offer, so we expect the 2019 boom to fade in 2020. Ukraine has a target of 11% renewablee (including hydro) in final electricity consumption by the end of 2020, with 2018 renewable energy generation at 9% according to the Ministry ol Energy and Coal.

In Egypt, the 1.6 GW Benban portfolio of projects was slower to commission than we expected, so our estimate of 2018 new build has dropped from 625 MW to just 64 MW, the Infinity Solar Project.

The Benhan projects have now reached financial close and are under construction. We forecast 850 MW of these projects to become operational in 2019, although this capacity is really transferred from 2018. Total Egypt installation is now expected to be 876MW to 1,070MW in 2019.

www.EQMagPro.com

We have corrected 2018 solar build tigures for the U.S.. revising downwards from 11.0GW to 10.0GW. Utility scale 2018 build was 4,934MWtAC), according to the U.S. Energy Information Administration (EIA), which is equivalent to about 6.4GW(DC) rather than our earlier estimate of 9.1GW. This was mainly because bullish expectations for Texas were foiled by permitting challenges, the lack of offtake, and transmission challenges. Some of these projects will still come online in future. Our U.S. 2018 estimates for residential and commercial installations were on track, according to utility submissions to the EIA collated in our U.S. Small Scale Solar Market Monitor (web). Although this means that the U.S. market had a second down year in 2018. we still expect the market to grow to 10.5GW to 14.1GW in 2019.

We maintain global PV build estimates at 108GW for 2018 (which includes a buffer, now S.OGW to 9.9(3W. for markets which haven't disclosed information on build or will turn out to have been larger than expected) and increase 2019 estimates to 1237149GW of new build. This 2019 total is still extremely dependent on the Chinese market, where the first "mega- auction" on July 11 allocated 23GW of projects, rather than the 30GW we expected. Further analysis of this will follow, but we are maintaining our China 2019 estimate of 41 -46GW tor now, consistent with the National Ener Administration's im t 4 -4 GW. For recent China solar analysis. see Chine Poiicy Certainty Propels Subsidy Free Renewables and the more alarming Chinese Renewabtes Subsidy Deficit Could Last for 25 Years.

EQ

SEPTEMBER-B 2019

65Â

research & analysis

Mono vs Poly An introspective simulation study!

Part-1 Solar installations in India have seen an average year-on-year growth of 82% since 2012. With the nation currently standing at around 28 GW of solar installation and with more than 95% installations utilizing crystalline technology, this trend is not to change in the next few years.

T

o a novice, crystalline solar module comes in two technologies i.e. mono crystalline & poly crystalline which could be easily identified by their shape and/or their colour. While such identification is relatively easy, selecting the right kind of technology for your project could be highly perplexing.

This is primarily because of the advantages each technology has i.e. the cost advantage of utilizing poly crystalline versus the efficiency advantage of mono crystalline technology.

While there has been a lot of debate over this topic and with over hundreds of articles online, a perfect answer to this conundrum still seem missing. Further with the location and its climatic conditions having a subsequent affect over the plantâ&#x20AC;&#x2122;s performance, a clear guideline considering all the performing indicators in a power plant seem clearly lacking. This blog and its subsequent parts aims to educate its readers on a complete technical and commercial evaluation of a mono crystalline versus poly crystalline module. Further it shall also enable the end customer/ investor/ an EPC to make correct decision when selecting a technology for their power plant.

66Â

EQ

SEPTEMBER-B 2019

Methodology Solar modules are known to have varied performance throughout the day due to varying weather conditions.Such variations throughout the year or better known as climate vary distinctively across countries. The performance of the solar modules thus vary accordingly which makes it important to have a complete study across each climatic zones. India, which is the 7th largest country in the World houses almost all the type of climatic conditions which could be experienced and hence make a perfect choice for the study. Primarily, India can be divided into 6 climatic zones (refer Figure 1) as mentioned below:

Hot & dry climatic zone: A climatic zone with extreme summers and extreme winters with minimal rainfall.

Warm & humid climatic zone: A climatic zone with moderate summers and moderate winters with heavy rainfalls. The zone also typically has high humidity throughout the year.

Moderate climatic zone: A climatic zone with moderate summers, moderate winters and moderate rainfalls.

Composite climatic zone: A climatic zone with extreme summers and extreme winters with moderate to heavy rainfalls.

Cold &sunny climatic zone: A climatic zone with pleasant summers and extreme winters with fairly clear sky throughout the year with cloud cover of less than 50%.

Cold &cloudy climatic zone:A climatic zone with pleasant summers and extreme winters with overcast weather throughout the year except in summers (for a brief period). www.EQMagPro.com

research & Analysis

Division of climatic zones in India (Source: IIT Bombay) Designing a solar power plant is a tedious task given the fact that there are numerous calculations alongside various considerations to be made before arriving at a final blueprint. However, at initial stages there could be two basic divisions in deciding on the design on the power plant i.e.

a. Power plant based on fixed area b. Power plant based on fixed capacity Understanding and fixing power plant based on above parameters enables a novice to perfectly evaluate its performance along with their commercial returns. In many of cases, where we have a fixed area chalked out for the solar PV plant, it needs to be ensured that the designer accommodates maximum capacity of PV plant to ensure the enhancement of the plant’s commercial return. There are however few cases where one need to have a power plant of fixed DC capacity, say due to limited evacuation capacity, policy/ regulatory limitations, limitations due to tenders, etc. In cases like such, it is of prime importance that the plant is designed in a way that its energy output is optimized to ensure enhanced commercial return. For a thorough understanding, a single location was considered from each of this climatic zone with further the power plant consideration based on fixed area (1000 m2) and fixed capacity (1 MW). The energy gains, gains from temperature losses and commercial savings were analysed by utilizing mono crystalline versus poly crystalline technology. In order to understand the gains only from the module technology, the balance of system (BoS) for the entire study was kept same.

www.EQMagPro.com

Results and Discussion Hot & dry climatic zone Found in the western and few central parts of India, hot and dry zone have summers with high to very high temperatures. This zone further also has moderate to extreme winters. The extreme temperatures directly affect the performance of the power plant. Specifically during summer, due to high ambient temperatures of around 42~46 °C, the operating temperatures of the solar module increases rapidly. Mono crystalline module which are known to perform better in higher temperatures loses 4.95% less energy due to higher temperatures when compared to poly based plants.

Overall an energy boost of around 18% in summer can be realized while utilizing mono technology.

Performance Ratio (PR) of a mono based power plant is found to 83.16%, which is 3.09% more than that of poly based plants. Energy injected into the grid by mono based plant is deemed to be 17.8% or 52 MWh higher (refer Figure 2) which directly enhances the plant’s financial returns.

EQ

SEPTEMBER-B 2019

67

research & analysis

Annual performance of the power plant Technology

Annual Genera- Average specifition (in kWh) cyield (in kWh/ kWp/day)

Daily average temperature loss (in kWh/kWp)

Performance Ratio (in %)

Mono crystalline

345,009

5.01

21.5

83.16%

Poly crystalline

292,929

4.83

22.6

80.07%

Energy generation in hot & dry climatic zone â&#x20AC;&#x201C; power plant based on fixed area While the above results were for the power plant based on fixed area, let us understand the result for the plant based on fixed capacity. While a similar behaviour from power plant based on same name plate capacity was expected, the actual results varied a lot. Firstly, a significant savings in energy

68Â

EQ

SEPTEMBER-B 2019

loss due to temperature i.e. 1,030kWh/ month (average) was realized when utilizing mono crystalline modules in power plant, with maximum difference to the tune of 1,331 units realized in summer season. Further, the PR for mono based power plant was found to be 81.70%,

which is at an average 0.62% higher than poly based power plant.

Overall, it was found that implementing mono crystalline modules would enable the end customer to annually generate 13.7 MWh (refer Figure 3) more.

www.EQMagPro.com

research & Analysis

Annual performance of the power plant Technology

Annual Generation (in kWh)

Average specificyield (in kWh/ kWp/day)

Annual temperature loss (in kWh)

Performance Ratio (in %)

Mono crystalline

1,806,355

4.92

260,124

81.70%

Poly crystalline

1,792,580

4.88

272,468

80.90%

Energy generation in hot & dry climatic zone â&#x20AC;&#x201C; power plant based on fixed capacity Warm and humid climatic zone Found mostly in coastal areas in India, this zone is mostly recognized by its humid climatic conditions around the year.

Further, they may experience summers with temperatures ranging from 35~42 °C coupled with moderate winters. Accounting to mostly moderate to sometimes high temperatures around the year, the power plant

www.EQMagPro.com

utilizing mono modules are expected to save 0.84 kWh/kWp/day attributed to temperature losses. Compared to summer, the winter experiences 5.10 % gain in the PR, thanks to the clear skies.

Further, mono crystalline based power plants experience a gain of 2.95% over the plants utilizing poly crystalline

modules. Additionally, it is expected that utilizing mono technology shall enhance the output of power plant by 0.16 kWh/kWp/day. This gain when considered for power plant based on fixed area would result in45.5 MWh more (refer Figure 4) energy generated from a mono crystalline module based plant.

EQ

SEPTEMBER-B 2019

69Â

research & analysis

Annual performance of the power plant Technology

Annual Generation (in kWh)

Average specificyield (in kWh/kWp/day)

Daily average temperature loss (in kWh/kWp)

Performance Ratio (in %)

Mono crystalline

304,923

4.43

15.99

84.39%

Poly crystalline

259,415

4.27

16.83

81.43%

Energy generation in warm and humid climatic zone â&#x20AC;&#x201C; power plant based on fixed area The warm & humid climatic zone, given its cloudy conditions around the monsoon experiences a significant reduction (~37%) in generationfrom solar PV. The generation however increases till April given the fact that there is an increase in irradiance in the region. Further, with increase in temperatures the output of the PV plant reduces.

70Â

EQ

SEPTEMBER-B 2019

The mono crystalline based power plant injects 10.3 MWh (or 7.67%) more energy into the grid per MW of power plant installed in such areas (refer Figure 5 for more details). This increase could be directly related to the savings obtained from temperature loss which stands at 9,254 kWh/year. Further a boost of 0.50% in PR is also realized by utilizing mono crystalline based modules.

www.EQMagPro.com

research & Analysis

Annual performance of the power plant Technology

Annual Generation (in kWh)

Average specific yield (in kWh/kWp/day)

Annual temperature loss (in kWh)

Performance Ratio (in %)

Mono crystalline

1,596,666

4.35

193,489

82.84%

Poly crystalline

1,586,378

4.32

202,743

82.34%

Energy generation in warm and humid climatic zone â&#x20AC;&#x201C; power plant based on fixed capacity

Moderate climatic zone Moderate climates are known to be balanced throughout the year. Such climatic zones, other than its intensely cloudy monsoons are considered preferable conditions for a solar power plant.

When comparingpower plant in fixed area,

www.EQMagPro.com

we find that the average energy gain of mono over poly stands fairly constant throughout the year i.e. at 17.65%.

Further owing to the fact the ambient temperature in this zone remains fairly constant throughout the year, the gain over temperature losses remain

equivalent to around 1.00 kWh/kWp throughout the year. The performance of the overall power plant however is known to be much better when a plant usesmono crystalline module i.e. 50,621 units more (refer Figure 6). Further the PR of the plant is known to be 3.03% more compared to a poly crystalline based plant.

EQ

SEPTEMBER-B 2019

71Â

research & analysis

Annual performance of the power plant Technology

Annual Generation (in kWh)

Average specificyield (in kWh/ kWp/day)

Daily average temperature loss (in kWh/kWp)

Performance Ratio (in %)

Mono crystalline

335,999

4.88

17.89

84.33%

Poly crystalline

285,378

4.70

18.89

81.30%

Energy generation in moderate climatic zoneâ&#x20AC;&#x201C; power plant based on fixed area A power plant of fixed capacity in moderate zone is expected to perform best during winters due to lower temperatures. Over and above, a similar observation was made in the month of Marchwhere the zone observes high irradiance and coupled with moderate temperatures.When comparing both the power plant, it was found that a mono based plant annually generates 13,826 units more. Further a boost in the PR of around 0.60% can be realized while utilizing mono crystalline modules.

72Â

EQ

SEPTEMBER-B 2019

The difference in temperature losses follows a similar pattern to the generation curve i.e. the difference in lower during and around monsoon season (average of 650 units from May to October) and higher during other months (average of 1200 units). A total savings in temperature losses of 11 MWh was realized in power plants utilizing mono crystalline modules. (refer Figure 7 for more details).

www.EQMagPro.com

research & Analysis

Annual performance of the power plant Technology

Annual Generation (in kWh)

Average specific yield (in kWh/kWp/ day)

Annual temperature loss (in kWh)

Performance Ratio (in %)

Mono crystalline

1,759,434

4.79

216,491

82.83%

Poly crystalline

1,746,066

4.76

227,570

82.23%

Energy generation in moderate climatic zone â&#x20AC;&#x201C; power plant based on fixed capacity

Composite climatic zone Found mostly in the central India, places having composite climates constitute more than 30% in the country. This zone typically has the climatic combination of both hot & dry and moderate zone i.e. it has extreme summers and extreme winters while the monsoon are typically coupled with cloud covers.

www.EQMagPro.com

Pertaining to such extremities, the temperature loss in a mono crystalline plant stays at 23.5 kWh/kWp which is 1.20 kWh/kWp less than that obtained in a poly crystalline based plant. Further, in winters such loss stays at 18.30 kWh/ kWp in a mono crystalline plant, 1 kWh/ kWp lower than that obtained in poly

crystalline based plant. The PR for a mono crystalline plant is found to be 3.08% higher than that of a poly based plant. Further, the energy injected into the grid is deemed to be 48.5 MWh higher (Figure 8) than poly based power plant which directly affects the commercial returns from such plant.

EQ

SEPTEMBER-B 2019

73Â

research & analysis

Annual performance of the power plant Technology

Annual Generation (in kWh)

Average specific yield (in kWh/kWp/ day)

Daily average temperature loss (in kWh/kWp)

Performance Ratio (in %)

Mono crystalline

321,551

4.67

18.88

83.45%

Poly crystalline

273,067

4.50

19.88

80.38%

Energy generation in composite climatic zoneâ&#x20AC;&#x201C; power plant based on fixed area While the monsoons are coupled with cloud cover, they stay relatively short in this zone. The energy generation in the monsoon is around 33% lower than that in winters. The annual energy generation when consideringmono crystalline technology stands at 1683 MWh which is 0.75% greater than that obtained from a poly based plant.

74Â

EQ

SEPTEMBER-B 2019

The average PR of a mono based power plant is found to be around 82%, 0.57% higher than the poly based power plant.

In terms of energy lost due to temperature, a poly crystalline power plant loses 239 MWh while a mono crystalline module based plant loses 228 MWh. Overall, mono crystalline technology outperforms poly crystalline technology by 12.3 MWh in such climatic zones.

www.EQMagPro.com

research & Analysis

Annual performance of the power plant Technology

Annual Generation Average specific yield (in kWh) (in kWh/kWp/day)

Annual temperature loss (in kWh)

Performance Ratio (in %)

Mono crystalline

1,682,664

4.58

228,473

81.88%

Poly crystalline

1,670,329

4.55

239,278

81.31%

Energy generation in composite climatic zone â&#x20AC;&#x201C; power plant based on fixed capacity While this part covered 4 climatic zones of the country, the next part would cover the remaining two climatic zones. Further the next part would also present a detailed financial analysis between a poly crystalline based power plant and mono crystalline based power plant. Keeping following this space for our next article.

Let us all pledge to make solar energy the primary source of energy in the near future.

To be continued...

www.EQMagPro.com

Author

Mr. Sunil Rathi

Director- Sales and Marketing Waaree Energies ltd

EQ

SEPTEMBER-B 2019

75Â

distributed solar

Rooftop solar power could be a game-changer for India despite challenges: Here is why The existing fragmented growth of solar rooftop is largely attributable to institutional and commercial consumers.

Discoms’ and consumers’ reluctance to adopt rooftop solar may be attributable to the legal framework of the distribution business.

India’s solar sector has seen a spectacular run in the last four years, largely attributable to its ambitious renewable energy targets and pro-solar policies. However, uptake of solar rooftop has remained sluggish all along. So far, India has attained less than 10 percent of its 40GW rooftop solar target. Undoubtedly, the pace of installations will have to be accelerated exponentially if the country were to accomplish its 2022 energy target.

}

T

o achieve the cumulative capacity of 40,000MW from rooftop solar projects by 2022, Cabinet Committee on Economic Affairs recently approved Phase–II of the Grid-Connected Rooftop Solar Programme. The programme will be implemented with central financial assistance of Rs 11,814 crore (approximately $1.7 billion), pursuant to which the government will provide financial support of 40 percent for 3kWp and 20 percent for capacity beyond 3kW up to 10kWp for residential sector. The programme also earmarks Rs 4950 crore (approximately $712 million) as incentive to distribution companies (discoms) for installing additional grid-connected rooftop capacity up to first additional 18 GW rooftop capacity. The programme is laudable and necessary to give the muchneeded momentum lacking in the industry. which are already reeling under severe financial stress. High levels of aggregate technical and commercial (AT&C) losses and inability of power tariffs to recover the cost of supply have attributed to sustained increase in losses of discoms over the years.

Therefore, any attempt for large scale deployment of rooftop solar will need to factor this market reality and incentivise discoms to support the same.

Indeed, discoms have a key role to play in the successful implementation of rooftop solar projects since they will facilitate technical interconnections and create framework for business models for banking and net metering. Rooftop solar will ultimately help utilities meet their day-time peak demand, reducing peak hour power purchase cost as well in achieving their renewable purchase obligations.

The existing fragmented growth of solar rooftop is largely attributable to institutional and commercial consumers. The deployment of solar in residential sector has been negligible largely because of significant upfront cost, unavailability of space, issues relating to ownership of roofs, lack of awareness, et.al. These factors seem to drive residential consumer choices notwithstanding the inherent positive aspects of rooftop solar such as access to energy, zero fuel cost and environmental benefits. The programme deftly deals with the two big challenges hindering the large-scale uptake of rooftop solar. By giving monetary incentives, it induces discoms to support the growth of rooftop solar and encourages consumers to shift to rooftop solar systems, thereby creating a win-win situation for both discoms and consumers. Incentivising the involvement of discoms with properly planned rooftop programmes and business models will also ensure greater participation from consumers and eliminate inherent market challenges.

While the programme seems to have laid a foundation in the right direction, as with all policies, whether it will trigger the wave to help India near its renewable energy targets will depend on how it is implemented. Further, to achieve its ambitious 40GW target, the government will need to devise and launch more such innovative policies which can create an ecosystem where all stakeholders – discoms, solar panel manufacturers and installers, consumers

76

EQ

SEPTEMBER-B 2019

and regulatory commissions — can work together to make India a global leader in renewable energy industry. Large scale diffusion of renewable energy is unlikely to happen without government support. Government intervention in mainstream renewable energy is crucial since, expecting private sector to cover high upfront costs may not be sustainable, renewable energy does not enjoy level-playing field with conventional sources of energy generation and path dependency associated with using conventional energy.

Given the structural barriers such as market distortions, technical and financial constraints, institutional weaknesses and behavioural choices of consumers, penetration of renewable energy would be excruciatingly slow if left to market forces alone. The government will have to internalise some of these risks and costs in the short term for benefits in the long term.

Discoms’ and consumers’ reluctance to adopt rooftop solar may also be attributable to the existing legal framework of the distribution business. Presently, discoms in India are responsible for both setting up distribution infrastructure and supplying power. Therefore, discoms that incur significant cost in installing and maintaining distribution infrastructure have no incentive to implement business frameworks to encourage the shift to rooftop solar systems. Further, the lack of ability to choose an electricity supplier also constrains a consumer from migrating to rooftop solar system.

In view of these issues, the Electricity Amendment Bill 2018 proposes the segregation of carriage and content businesses of discoms, pursuant to which separate licences will have to be procured for distribution and supply of electricity. It is noteworthy that there has been significant opposition to the bill particularly from discoms. However, once the bill becomes a law, it will enable consumers to buy electricity from a power supplier of their choice bringing in greater flexibility and may induce behavioural shift to use rooftop solar systems. India’s tremendous potential for solar energy with a perfect geographical location, 250-300 sunny days and growing energy requirements presents itself a big opportunity to chart its development path in a sustainable manner. The government does realise this potential and opportunity and the programme seems like a commendable policy decision.

Yet, it is only a reinvigorated effort in the right direction which will have to be followed by many more such innovative schemes and programmes. Vishnu Sudarsan is Partner and Sugandha Somani is Of-Counsel at J Sagar Associates.

The article is contributed as part of Climate Change and Renewable Energy Initiative at JSA. The views expressed are personal.

Source: cnbctv18

www.EQMagPro.com

renewable energy

Towards a Smaller Carbon Footprint

[

[

Electric Vehicles (EV) are the future of all road transport.

With the ever-rising pollution and its detrimental effect on the community well-being, there has been a large scale paradigm shift towards EVâ&#x20AC;&#x2122;s. A perennial obstacle faced by most EV manufacturers and consumers is the availability of a plug point for charging when on the go.

There definitely is a need to move from the GRID based charging stations to standalone offgrid solutions for charging. In tropical countries like India, unlike Europe, the potential to harness the abundant renewable power of the Sun for EV charging, will ensure fast acceptance of EVs.

As simple and radical it may sound, scientists across the world are finding solutions to simplify the main 2 issues of EV charging systems : Developing high energy density batteries.

Developing quick charging equipment to ensure commercial viability of charging platforms.

A

typical charge of vehicle battery for a 100km journey will require between 18-20kWh of power. So a petrol LMV with 10km/litre engine average will have a running cost of Rs.7.80 per kilometer, will drop down to almost Rs.1.50to Rs.2.30 per kilometer depending on the mix of Solar and grid power offered by the charging station. For EV owners who have the space at their residences to install a Solar Plant need have only a 3kW Plant to meet the charging needs of their EVs assuming a 50-70km daily drive. Oil refining Companies have one of the largest carbon footprint in terms of the fossil fuel processing they undertake.

www.EQMagPro.com

Mr.Amish Gosar, Head-Projects at P V Power explaining the benefits of Solar to IndianOildealers.

Their raw material ~ crude oil, is most definitely finite and additionally the harm caused to the environment due to burning of such fuels certainly overloads such Companies with a large social responsibility of adopting cleaner and environment-friendly technologies. With the high pollution levels being reported in Indian cities, it is pertinent that these Corporations entail some environment friendly measures. Most of the large refiners as well as the oil marketing Companies in India are adopting renewable energy, mainly Solar at Company as well as dealer levels to reduce their carbon footprint. Many of these are offering incentives like cash subsidies and non-cash rewards to their dealers to encourage acceptance of Solar. This is in addition to the Companies themselves installing Solar Plants in most of their offices, plants and pumping stations across the Geography. They are also detailing the blueprint for rollout of EV charging units under their retail fuel stations countrywide.

EQ

SEPTEMBER-B 2019

77Â

floating solar

INDIA’S LARGEST FLOATING SOLAR PROJECT COMMISSIONED WITH DELTA CENTRAL INVERTERS IN GREATER VISAKHAPATNAM The Greater Visakhapatnam Smart City Corporation Limited (GVSCCL) has commissioned a 2 MW Solar grid-connected floating solar photovoltaic (PV) project. This floating solar PV project is installed atop the Mudasarlova reservoir in Visakhapatnam. This project was inaugurated by Mr. Chandrababu Naidu, the chief minister of Andhra Pradesh recently

T

his is India’s largest floating solar PV Power project developed by GVSCCL The project is built on Mudasarlova lake of about 15 acres area and about 4.5 Acres of lake is used for constructing this plant. The project development work commenced in April 2018 and commissioned in September 2018. This is now the India’s largest operational floating solar PV project capable of generating about 31, 00,000 units power annually reducing about 28000 tons of CO2 annually which is equivalent to burning of 1450 tons of coal. Around 1,31,000 matured trees saved per year. And 20% of water evaporation will be reduced while maintaining healthy flora and fauna. The cost of this entire project was about ₹120 million (~$1.71 million) and includes the extra cost of desilting of the reservoir bed prior to construction of the floating solar project.

This revolutionary step in Mudasarlova reservoir has brought in a vast reduction by saving Rs.1, 86, 00,000 on electricity bills per year Floating solar PV is slowly gaining traction in the country. In the past few months, numerous tenders for small-capacity floating solar PV projects have been issued. GVSCCL floating solar project is constructed by PES Engineers Hyderabad-India on EPC (Engineering, Procurement & Construction) basis. PES Engineers is a multi-disciplinary engineering and Construction Company with vast experience is engineering and building of large infrastructure projects like Solar power plants, Hydro Electric power plants and large scale lift irrigation projects PES has a strong presence in power sector in hydro, thermal, nuclear and solar power sector with a portfolio of about 23 GW where PES is involved in various activities like Engineering, construction, design and supply of heavy machinery. Their expertise in Solar PV sector lies in engineering procurement construction (EPC) of solar PV plants. Supply of solar PV trackers.

78

EQ

SEPTEMBER-B 2019

Today Delta is proud to be associated with this project by supplying 2nos of 1 MW DelCEN1000-Central inverter.

Being the world leader in Power conversion technology, we at Delta offer a comprehensive product range of high efficient indoor and outdoor solar inverters, accessories and services to our partners and installers and the best photovoltaic systems to maximize profit and we identify the emerging trends and adapt capture it quickly. With over 1.5+GW of string and central grid-tied solar inverters installed in India, we contribute to the continued efforts to make the earth more green and livable. Our new Renewable Power Inverters (RPI) and megawatt inverters has a wide range of frequency and voltage tolerances, single and dual Maximum Power Point Tracking topologies with dynamic and adaptive algorithm to give higher efficiencies coupled with competitive pricing.

It is a proven fact that the cost of establishing a solar power plant is reducing day by day as it has reduced by almost 50% in past 5 years due to the continual advancements in solar panel and inverter technology which are increasing the efficiency and lowering the cost. Besides the cost factor, Delta’s comprehensive portfolio of inverters offers our customers’ industry’s leading efficiencies with maximum uptime guarantee which shortens the payback period and maximize the energy harvest.

Delta is continuously enhancing our engineering capabilities and is committed to developing innovative technologies cum solutions for a better tomorrow. We provide our customers with a wide range of products and services. We build our operations on long-term relationships and on innovative, energy-efficient solutions.

www.EQMagPro.com

RESEARCH & ANALYSIS

IEEFA India: Renewable Investment on Track with Right Policy Framework India will require US$500 – 700 billion in renewable energy and supporting grid investment over the coming decade in order to meet its renewable energy targets, finds a new IEEFA briefing note out.

E

ntitled International Capital Awaits Robust Policy Environment in India’s Renewables Infrastructure Sector, the note reviews India’s energy market and finds some recent policy changes favourable for renewable energy investors, but also notes with caution some sovereign risk issues that need to be resolved quickly.

Author Tim Buckley, Director of Energy Finance Studies with the Institute for Energy Economics and Financial Analysis (IEEFA), says the world is looking to invest in India’s renewable energy sector. “There has been clear momentum in India’s renewable energy capacity building in the last 24 months, leveraging the expanding opportunities in deflationary sustainable domestic projects,” says Buckley. “India is set to reach 144 gigawatts of renewable energy by the end of financial year 2021/22. “The country has a clear ambition to transition to a cheaper lower emission electricity system, and that ambition is attracting healthy global investment. “Global capital flows will into India will accelerate as long as the Indian government provides a clear policy framework and puts in place measures to lower risks and protect investor confidence.”

The briefing note highlights multiple examples of international investment in India’s renewable energy projects, while also noting recent obstacles to India’s renewable ambitions, including a slow-down in the tendering process, grid integration constraints, and issues with excessively aggressive tariff caps on reverse auctions. As a result, during FY2018/19 India failed to capitalise on the momentum built over the previous two years through record low solar and wind tariffs. Only 10.3GW of renewable generation capacity was added in FY2018/19.

www.EQMagPro.com

Co-author Kashish Shah says the slowdown masks some very positive policy announcements recently, which accelerated tendering activity in June 2019 post the Central election. “The proposed tariff policy revision and the payment security mechanism enhancements are both significant regulatory reforms, while removing the priority lending limit for the renewable energy sector will accelerate private bank lending to renewable energy infrastructure projects,” says Shah.

“There is however a need for better coordination between central and state governments to ensure ambitious renewable targets can be met state by state and across the country as a whole.”

The briefing note concludes the Indian government is successfully paving the way for increased renewables investment that will enhance India’s energy security and drive investment and employment opportunities. For global public and private debt and equity capital seeking steady long-term returns, there is a huge investment opportunity in India’s electricity and transportation sectors to support the development of new generating capacity and grid development by 2030.

“India wants to meet its renewable targets while showing global leadership in setting a policy framework consistent with the Paris Agreement,” says Buckley. “Investors are showing a strong appetite to support India’s infrastructure goals, if the government can stay on track. IEEFA believes they can.”

Source: ieefa.org

EQ

SEPTEMBER-B 2019

79

ADVERTISERS INDEX

SUBSCRIBE Subscribe “EQ International” at www.EQMagPro.com or fill your complete address and Email to :rishabh.eqmag.net@gmail.com or Call +91-7692973898

Belectric..............................................................................15 Citizen Solar...............................................Inside front RHS

Yes! I would like to Subscribe to EQ International Magazine For 1 Issue:

o Indian citizens Rs. 200

o International $ 25 / € 20

Delta....................................................................Front Cover emmwee..................................................................................09 HPL India.................................................................................07

For 1 Year (12 issues):

o Indian citizens Rs. 2400

o International $ 300 / € 240

huawei...................................................................Back cover jolywood.....................................................Front Gate fold

Please Mail the coupon to:

Jurchen.................................................................................17

Name:-------------------------------------------------------------------------------------

Photon...................................................................................21

Job Title:-------------------------------------------------------------------------------Department: ---------------------------------------------------------------------------

pv power tech.............................................inside back rhs

Company:-------------------------------------------------------------------------------

swelect.................................................................................11

Description of the Company: ---------------------------------------------------Adress:-----------------------------------------------------------------------------------

TATA blue scope...................................................................13

---------------------------------------------------------------------------------------------

waaree.........................................................inside front lhs

City/State/Zip Code:-----------------------------------------------------------------

west coast engg.................................................................19

Country:--------------------------------------------------------------------------------Phone:-----------------------------------------------------------------------------------Fax:---------------------------------------------------------------------------------------E-Mail. ----------------------------------------------------------------------------------Web site:--------------------------------------------------------------------------------

PAYMENT 1.- My Cheque/DD in favour of “FirstSource Energy India Private Limited”

for Rs……………………………………………………………………

Drawn on………………………………………is enclosed herewith.

Date/Signature: 2.- I will pay by Credit Card Type:...........................................................................

Name on Card:..............................................................

Number:.......................................................................

Security Code: ..............................................................

Expiration Date:.............................................................

Mail this coup on to: First Source Energy India Pvt. Ltd. Subscription Department.

95 C, Sampat Farms, Bicholi Mardana Distt-Indore 452016 Tel. + 91 96441 22268

"

R.N.I NO. MPBIL/2013/50966 | DT. OF PRINT- 20 SEPTEMBER 2019 | DT. OF POSTING- 25 SEPTEMBER 2019 | POSTAL REGD. NO. MP/IDC/1435/2019-2021

Renewable Energy India Sep. 18-20, Greater Noida Booth No.: 3.64

FUSIONSOLAR FOR OPTIMAL LCOE

No.1 in Global Inverter Shipments 2015-2018

@ Huawei FusionSolar

FusionSolar Smart PV Solution solar.huawei.com