Quick Recap of Major Developments in India’s Renewable Energy Sector in January 2018

It was a busy month with a variety of announcements made by industry players and government agencies


The first month of 2018 kickstarted the year with a flood of activity in India’s renewable energy sector, with a series of announcements by government agencies and industry players alike adding further impetus to the country’s clean energy ambitions.

Here is a quick recap of the green energy developments that transpired in January:

India achieved a milestone of 20 GW in cumulative solar installations. According to Mercom’s India Solar Project Tracker, this total was comprised  ~18.4 GW in utility-scale installations and ~1.6 GW in rooftop solar.

Karnataka Renewable Energy Development Limited (KREDL) amended the regulations for 860 MW of planned grid-connected solar photovoltaic (PV) projects that were tendered in December 2017 for 43 taluks in the state.

The trade tiff between India and the United States concerning the Domestic Content Requirement (DCR) was referred to arbitration and New Delhi requested that the World Trade Organization (WTO) set up a compliance panel to settle the dispute.

AES India and Mitsubishi Corporation began the construction of India’s first utility-scale energy storage system in the national capital. The 10 MW energy storage system will serve the grid operated by Tata Power Delhi Distribution Ltd (TPDDL) in New Delhi.

The Assam Power Distribution Company Limited (APDCL) tendered a total of 100 MW of grid-connected solar PV projects to be developed in the state.

Investment fund Global Infrastructure Partners (GIP) closed on a $5 billion deal to acquire a 100 percent stake in renewable energy project developer Equis Energy.

Solar component manufacturer Solex Energy Limited (SEL) became the latest Indian renewables company to announce plans for an initial public offering (IPO) in recent months.

Punjab and Haryana became the latest states to announce draft regulations for the deviation charges of solar and wind power generation. Earlier in the month, the Tamil Nadu Electricity Regulatory Commission (TNERC) also released draft regulations which said TNERC would impose deviation charges on developers for the under injection of power.

YES Bank, an Indian private sector bank, announced it plans to mobilize up to $1 billion (~₹64 billion) to finance  solar PV projects in the country by 2023 and $5 billion (~₹320 billion) by 2030.

China’s CETC Renewable Energy Technology Company signed a Memorandum of Understanding (MoU) with the Andhra Pradesh Economic Development Board (APEDB) to set up a solar photovoltaic (PV) cell manufacturing plant in the state.

Tata Power announced new additions to its strategic network of electric vehicle (EV) charging stations in Mumbai.

The New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) issued a tender to procure and set up 5,000 solar-powered water pumps in the state as part of the Off-Grid and Decentralized Solar Applications program.

The Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) tendered 1 GW of grid-connected solar photovoltaic (PV) projects to be developed across the state.

The Haryana Renewable Energy Development Agency (HAREDA) tendered 50 MW of grid-connected rooftop solar projects to be developed across the state.

Vector Green Energy, a portfolio company of India Infrastructure Fund II (IIF), completed the refinancing of two solar projects with 223 MW of combined capacity in Telangana.