Daily News Wrap-Up: India’s Solar Installations Down 58% YoY in Q2 2023

Jodhpur DISCOM floats tender for 78 MW of solar projects under KUSUM

August 24, 2023


India installed 1.7 GW of solar capacity during the second quarter (Q2) of 2023, a 58% decline year-over-year (YoY), according to Mercom India Research’s Q2 2023 India Solar Market Update. On a quarter-over-quarter basis, the installations fell by 10%. The Ministry of New and Renewable Energy extended commissioning timelines for various solar and solar-wind hybrid projects until March 2024, thrice between December 2022 and June 2023. The module price fluctuations, supply constraints, and uncertainties around the Approved List of Models and Manufacturers added to the project delays in Q2 and the first half of 2023.

The Jodhpur Vidyut Vitran Nigam has invited bids to install and commission 31 grid-connected solar projects with a total capacity of 78.6 MW under Component C of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan program for feeder level solarization. The projects, to be developed under the renewable energy service company model, will be located in AP Kallu, Jaitaran, Bar, and Pipaliya Kallan subdivisions of Pali Circle in Jodhpur. The last date to submit the bids online is October 11, 2023. Bids will be opened on October 13.

The Solar Energy Corporation of India disbursed ₹11.48 billion (~$138.3 million) to wind and solar developers for the electricity procured in the month of June 2023. The payments marked an increase of 9.3% from ₹10.5 billion (~$126.43 million) disbursed in May. The disbursements increased by 25.7% on a year-over-year basis. The disbursements accounted for nearly 93% of the total amount released by the nodal agency in June.

Jharkhand Renewable Energy Development Agency has invited bids for the installation and commissioning of 8,000 off-grid solar pumping systems of different capacities under Component B of the PM-KUSUM program. The successful bidder will also have to take care of the operation and maintenance of the solar systems for five years. The last date to submit the bids is September 4, 2023. Bids will be opened on September 6.

Noida-based solar energy solutions company Oriana Power has won the auction to construct a 20 MW ground-mounted solar photovoltaic power project in Dhanbad, Jharkhand, for Bharat Coking Coal, a subsidiary of Coal India. The Engineering, Procurement, and Construction phase is expected to conclude within a year. The estimated value is ₹1.38 billion (~$16.6 million), including GST and operation and maintenance expenses.

Kolkata Police has invited bids for the supply and maintenance of 200 four-wheeler electric vehicles with all standard accessories, including regular chargers. The last date for the submission of bids is September 9, 2023. Bids will be opened on September 14. The project’s estimated cost, including GST, is valued at ₹440 million (~$5.3 million).

Energy storage solutions company NSure Reliable Power Solutions is set to begin pilot production of lithium-ion cells at its 1 GWh plant located in Malur, near Bengaluru. The venture involves an investment of ₹10.5 billion (~$126.9 million) and spans across an 80-acre facility. The Malur facility, with an initial capacity of 1 GWh, will focus on lithium iron phosphate cells and envisages a capacity expansion of up to 5 GWh in subsequent phases.

Renewable energy (wind and solar) accounted for 9.07% of the total installed captive capacity as of March 31, 2022, according to the General Review Report 2023, published by the Central Electricity Authority. The generation from renewable captive power projects accounted for 3.25% of the total captive generation during FY 2021-22. The total installed capacity of renewable captive power projects, excluding hydropower, as of March 31, 2022, stood at 6.96 GW.

Solar module maker Canadian Solar’s net income surged 130% YoY to $170 million for Q2 of FY 2023, driven by increased module shipments and improved margins. The module manufacturer’s engineering, procurement, and construction subsidiary CSI Solar shipped 8.2 GW of solar modules to over 70 countries during the quarter, a 62% rise YoY. The top five markets ranked by shipments were China, Brazil, the U.S., Spain, and Germany. Net revenues for the April-June quarter were up 2% YoY to $2.4 billion.

Vestas Wind Systems, a wind turbine manufacturer, has recorded a net loss of €115 million (~$124 million) during Q2 FY 2023, a marginal YoY improvement of 3% from a loss of €119 million (~$128.5 million). The company recorded a revenue of €3.4 billion (~$3.6 billion), a YoY growth of 4%. This was driven by 29% service growth and higher average pricing on deliverables, partly offset by lower volume.