Daily News Wrap-Up: Top Solar Module Suppliers for 1H 2023

RECPDCL’s 100 MW ISTS-connected wind projects auction

November 20, 2023


LONGi Solar, Waaree Energies, JA Solar, Jinko Solar, and Premier Energies were the top solar module suppliers in the first half (1H) of the calendar year 2023, according to Mercom’s recently released India Solar Market Leaderboard 1H 2023. The report covers market shares and rankings across the Indian solar supply chain and provides the most accurate and comprehensive coverage of industry leaders. During 1H 2023, polycrystalline modules accounted for 11.6% of the total module supply, while monocrystalline modules constituted around 81.5%. Bifacial, Thin Film and HJT modules accounted for approximately 7% of the supply.

Juniper Green Energy and Avaada Energy have won REC Power Development and Consultancy’s auction to set up 100 MW of inter-state transmission system-connected wind power projects in India. Juniper won 50 MW, quoting ₹3.58 (~$0.0430)/ kWh. Avaada won the remaining 50 MW at ₹3.59 (~$0.0431)/ kWh. The tender was floated in July.

SJVN Green Energy, a subsidiary of SJVN, has invited bids to develop Inter-State Transmission System-connected wind power projects of up to 300 MW anywhere in India and to operate and maintain them for five years. The 300 MW will be divided into Project-I, with a capacity of 100 MW, and Project-II, with a capacity of 200 MW. Bidders can participate in either or both projects. The last date for the submission of bids is December 7, 2023. Bids will be opened the same day. The scope of the work includes identifying and acquiring land, obtaining statutory clearances, coordinating with government agencies, designing, engineering, procuring, manufacturing, transporting, constructing, and commissioning.

CIL Navikarniya Urja, a wholly-owned subsidiary of Coal India, has invited bids to commission 35 MW of solar power projects along with the associated transmission system in Maharashtra. Only empaneled engineering, procurement, and construction contractors can participate in this tender. The last day to submit the bids is December 8, 2023. Bids will be opened on December 11. The projects will be implemented across 11 locations spanning three areas within Western Coalfields. Majri will house 23 MW, Wani (7 MW), and Chandrapur (5 MW).

Indian renewable energy project developer ReNew has commissioned its first interstate transmission system project, the Koppal Transmission Program, which aims to facilitate the transmission of 1.5 GW of renewable energy in Karnataka. Awarded in the financial year 2022, the program encompasses the construction of a new 400/220 kV substation at Koppal, a 276 Ckt Km 400 kV D/C quad moose transmission line, and an extension of the 400 kV GIS Bays at the Powergrid Narendra (New) Substation. Following the commissioning of the 1,500 MW Koppal Transmission program, the remaining transmission for 3,500 MW is anticipated to be completed by June 2024.

With a fortnight to go for COP28 in Dubai and when some 60 nations are said to be working on a deal to triple renewable energy capacity targets until 2030 and move away from coal, India’s coal-to-clean commitments are in danger of coming apart. There is still no word on whether India would back the deal, but it has left no one in doubt on where it stands on coal. Reports say the U.S., EU, and UAE want India and China to say yes to the deal, given that the two countries are not doing enough to phase down coal. In September, under India’s presidency, the G20 group of nations had pledged to accelerate efforts to phase down unabated coal power in line with national circumstances.

Ofgem, the U.K.’s energy regulator, has introduced new rules to unclog the electricity grid connection queue, specifically targeting the pace of connecting renewable energy and storage projects to the grid. The regulator is working to expedite over 90% of queued megawatt-scale projects slated for connection dates in 2030 and beyond. The rules integrate milestone-driven queue management to accelerate grid connections, eliminate stalled projects hindering high-voltage transmission lines, and advance net-zero energy generation and storage targets.

Solar module manufacturer Maxeon Solar Technologies recorded a revenue of $227.6 million during the third quarter (Q3) of FY 2023, a decrease of 17% year-over-year (YoY) from $275.4 million. The adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss stood at $19.9 million, a YoY decrease of 42% compared to an EBITDA loss of $34.5 million. Maxeon recorded a net loss of $108.3 million during Q2 FY 2023, a 142% YoY increase from a net loss of $44.7 million. The company witnessed a 61% YoY uptick in operating expenses at $66.5 million.