Daily News Wrap-Up: Anti-Dumping Probe Initiated on Solar Glass Imports

Karnataka 2024 budget allots ₹11.74 billion for solar pumps

February 19, 2024


The Directorate General of Trade Remedies has initiated an anti-dumping investigation on imports of textured tempered coated and uncoated glass originating in or exported from China and Vietnam. This investigation stems from an application submitted by Borosil Renewables, alleging similarities between their domestically produced solar glass and the imported counterparts. Borosil argued that these imports are equivalent in physical and chemical attributes, manufacturing processes, functions, pricing, distribution, and tariff classifications.

The Karnataka Government will deploy 40,000 off-grid solar pump sets under Component -B of Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan at an estimated cost of ₹11.74 billion (~$141.4 million). The announcement was made by Chief Minister Siddaramaiah during his budget speech today. The program, initiated to foster self-sufficiency amongst farmers, will see a central government contribution of 30%. The state government will increase its subsidy from 30% to 50%.

The Central Electricity Regulatory Commission has approved a tariff of ₹2.60 (~$0.03)/kWh for a combined capacity of 600 MW from solar power projects of Solar Energy Corporation of India Limited (SECI). The Commission also approved a trading margin of ₹0.07 ($0.00084)/kWh. SECI filed a petition under Section 63 of the Electricity Act, 2003, for the adoption of tariff for the 600 MW solar power projects (Tranche-XI) connected to the Inter-State Transmission System and selected through the competitive bidding process.

SJVN Green Energy, a wholly owned subsidiary of SJVN, has invited bids for the manufacturing and supply of solar modules of a 1,960 MWdc capacity to be used in solar power projects to be installed in various states of India. Projects 1 and 2 will have a capacity of 700 MWdc each, while Projects 3 and 4 will have a capacity of 280 MWdc each. The last date for the submission of bids is March 11, 2024. Bid openings will be notified to techno-commercially qualified bidders later. Bidders have to pay ₹5,900 (~$71.07) as cost of the bid document.

A parliamentary committee has asked the government to seek postponement of the application of the European Union’s Carbon Border Adjustment Mechanism (CBAM) to the Micro, Small & Medium Enterprises sector by at least three years. In a recent report, the Standing Committee on Commerce expressed concern over the potential hindrances posed by tariff and non-tariff barriers raised by the EU and the U.S., which could impede the growth of the MSME sector. Early last year, India and China expressed concern over CBAM at the World Trade Organization.

Renewable energy solutions provider KPI Green Energy posted a net profit of ₹506.09 million (~$6.09 million) in the third quarter of the financial year 2023-24, an increase of 47% year-over-year from ₹344.58 million (~$4.15 million). The company’s total income for the quarter stood at ₹3.31 billion (~$39.87 million), a rise of 84%, compared to ₹1.79 billion (~$21.56 million) during the same period last year. The earnings before interest, taxes, depreciation, and amortization for the October-December period was ₹1.05 billion (~$12.64 million), a YoY increase of 74%.

Distributed generation, storage, and energy services company SunPower Corporation posted a fourth-quarter revenue of $356.9 million, down 28% from $498 million last year, hurt by lower customer additions. The company added only 16,000 customers in Q4 compared to 35,700 in the same period last year, down about 56%. Lower year-over-year installations reflect the impact of reduced bookings due to higher interest rates and California’s NEM 3.0 net metering policy changes, as well as the winding down of NEM 2.0 installations.

A team of researchers from the University of Stavanger in Norway, in a recent study, explored the large-scale energy storage potential of the ocean to support intermittent renewable energy sources like wind and solar and stabilize the grid. The research published in the Journal of Energy Storage focuses on a concept called Subsea Pumped Hydro Storage, which utilizes the high pressures of the deep ocean to store energy in underwater compressed air tanks.

Canada-based manufacturer of single-phase microinverters SPARQ Systems has signed a manufacturing and supply agreement with Jio Things, a subsidiary of Jio Platforms, to develop, collaborate with, and distribute microinverters in India. The long-term partnership will also enable SPARQ to incorporate its microinverters, which are commonly used in solar photovoltaic technology, into Jio Things’ solutions globally. The agreement forms a framework for both companies to collaborate on innovation and development of new products.