Daily News Wrap-Up: Top Solar Module Mounting Structure Suppliers in 2022
ISTS charges waived for offshore wind, green hydrogen, and green ammonia projects
May 31, 2023
Purshotam Profiles, Goodluck India, and Strolar were the top three module mounting structure suppliers to the Indian solar market in the calendar year 2022. Raydean and Metalkrafft Forming Industries rounded off the top five, according to Mercom’s recently released report, India Solar Market Leaderboard 2023. Together these five companies accounted for 88% of the market demand, while the others accounted for the remaining 12% in an increasingly consolidated market dominated by a few large companies.
The Ministry of Power has waived inter-state transmission (ISTS) charges for offshore wind, green hydrogen, and green ammonia projects as a significant step to facilitate the implementation and expansion of these projects. The waiver is only applicable for ISTS charges but not for ISTS losses. The charges will be waived for 25 years from the commissioning date of the projects. The green hydrogen and ammonia projects covered under the new scope must utilize renewable energy sources for production.
The Maharashtra Electricity Regulatory Commission has set a generic tariff of ₹3.05 (~$0.037)/kWh for distribution companies (DISCOMs) to procure surplus power from rooftop solar projects for the financial year (FY) 2023-24. The Commission said it would be mandatory for DISCOMs to procure surplus power at the end of the financial year, which would be counted toward meeting their solar renewable purchase obligation targets. The state regulator also set a variable charge of ₹5.93 (~$0.072)/kWh for biomass projects and ₹4.57 (~$0.055)/kWh for non-fossil fuel-based cogeneration projects for FY 2023-24 with effect from April 1, 2023.
Jharkhand Renewable Energy Development Agency has invited bids for the comprehensive operation and maintenance of 68 mini/micro solar systems with a total capacity of 1.39 MW for five years. The scope of work includes the replacement of power conditioning units, modules, batteries, and other components installed in different villages of the Chatra district in Jharkhand. The last date to submit the bids is June 14, 2023. Bids will be opened on June 16. The project’s estimated cost is ₹148.56 million (~$1.79 million).
Gujarat-based power company Torrent Power posted a profit of ₹4.88 billion (~$58.97 million) for the fourth quarter (Q4) of the financial year (FY) 2022-23 against a loss of ₹4.84 billion (~$58.49 million) in Q4 FY22. The company said the profit was primarily due to continued growth in Torrent’s transmission business supported by higher power demand and increased generation. The company’s solar generation capacity increased to 123 million units (MU), and the plant load factor grew to 21.6% from 19.3% during Q4 FY22.
In a significant move towards sustainable energy practices, Oil and Natural Gas Corporation (ONGC), India’s oil and gas major, has announced plans to invest ₹1 trillion (~$12 billion) by 2030 in renewable energy transition projects. To accelerate its renewable energy portfolio, ONGC plans to increase electricity generation from renewable sources from the existing 189 MW to 1 GW by 2030. The company has a substantial pipeline of projects, with 5 GW planned in Rajasthan, and is exploring opportunities in offshore wind farms. ONGC also intends to establish a green ammonia plant with an annual capacity of 1 million tons in Mangalore.