Month in a Minute: Important Headlines and Data Points from the Indian Renewable Energy Sector in June 2017
The Ministry of New and Renewable Energy (MNRE) de-empaneled 71 channel partners fromits grid-connected rooftop and small solar power projects program. These agencies had not entered any installation data or project completion reports on the SPIN portal.
According to the Central Electricity Authority (CEA) 2017 Load Generation Balance Report, a study on the anticipated power supply position for financial year (FY) 2017-18, India is expecting a power surplus of 8.8 percent and peak surplus of 6.8 percent in the country during 2017-18.
The Delhi Lt. Governor has directed the power department to prepare a standard operating procedure (SOP) as well as a roadmap to promote the installation of solar power panels in Delhi. The SOP will help to facilitate various government departments and potential large users to install solar power.
Indian solar manufacturers have filed an anti-dumping petition with the Ministry of Trade and Commerce, against Chinese manufacturers of solar modules and cells hoping that an interim duty will be levied.
The Indian Renewable Energy Development Agency (IREDA) will issue 139 million equity shares as part of its initial public offering.
Renewable energy installations in India have crossed 57.5 GW and account for ~17.5 percent of India’s energy mix as of April 2017.
The Power Grid Corporation (PGCIL), a state-run transmission and distribution company, has planned capital expenditure of Rs.250 billion (~$3.87 billion) for FY2017-18.
Adani commissioned 50 MW of solar projects in Mahoba in Uttar Pradesh. The projects were developed under the Jawaharlal Nehru National Solar Mission (JNNSM).
The Kurnool Ultra Mega Solar Park of 1,000 MW capacity is on the cusp of completion; 50 MW remains to be added to the grid.
The State Bank of India (SBI) will provide Rs.4 billion (~$62.2 million) to private developers to finance 100 MW of grid-connected rooftop solar projects in India. The financing is being provided by the SBI under a World Bank program.
In the financial year (FY) 2016-17, import and export activity totaling $3.27 billion (~Rs.218.8 billion) was registered in the Indian solar sector.
The Power Finance Corporation (PFC), a government owned financial Institution, is planning to finance power transmission projects awarded to private transmission project developers through tariff-based competitive bidding.
The Indian Energy Exchange (IEX), India’s power trading platform, filed draft papers with the Securities and Exchange Board of India (SEBI) for the launch of its initial public offering.
Yes Bank, FMO (the development bank of the Netherlands), DEG (the development bank of Germany) and Proparco (the development of France) signed a Green Finance Charter to mobilize green investments, seize opportunities in India’s sunrise sectors, and contribute to the targets toward climate change under India’s Nationally Determined Contribution (NDC) and Sustainable Development Goals (SDG).
The United States will provide India with $7.5 million to improve the national grid. The fund will be provided by the U.S. Department of Energy (DOE).
A weather portal for the power sector developed by the Power System Operation Corporation (POSOCO) and India Meteorological Department (IMD) and a web portal named MERIT (Merit Order Dispatch of Electricity for Rejuvenation of Income and Transparency) have been launched.
The Asian Development Bank (ADB) raised $217 million by issuing offshore Indian rupee-linked five-year bonds.
The overall subsidy dependence of power distribution companies (DISCOMs) is estimated to increase by 7-8 percent to Rs.810 billion (~$12.53 billion) in the current financial year, stated a report by the India Credit Rating Agency (ICRA).
In the recently held 1,500 MW TANGEDCO tender, a tariff of Rs.3.47(~$0.05364)/unit was quoted. This is the lowest solar tariff ever quoted in the state of Tamil Nadu.