RECPDCL Invites Bids for 223 MW ISTS-Connected Solar Projects

Clean Energy Tech Firm Ecozen Raises $30 Million for Global Expansion

SJVN Green Energy Invites Bids to Source Land for 200 MW Solar Projects in Assam

Avaada Inks ₹45 Billion Refinancing Deal for Four Solar Projects in Rajasthan

Daily News Wrap-Up: Application Process for ALMM Inclusion and Renewal

Australia Adds 5.9 GW of Renewable Capacity to the Grid in 2023

POWERGRID Wins Contracts to Evacuate 18 GW of Renewable Energy

MNRE Seeks Feedback on Guidelines for PM-Surya Ghar Rooftop Solar Program

Apple Partners with CleanMax to Power India Operations with Renewable Energy

Explainer: Application Process for ALMM Inclusion and Renewal


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="http://mercomindia.com/wp-content/uploads/2022/11/amazon_polly_44928.mp3?version=1668761049">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>India led the corporate renewable procurement market in the Asia Pacific (APAC) region for the second consecutive year by procuring 8.1 GW of capacity, according to a <u><a href="https://www.woodmac.com/" target="_blank" rel="noopener">Wood Mackenzie</a></u> report.</p>
<p>The persistent rise in fuel and electricity costs fueled the competition for renewable PPAs in the region, resulting in stable levelized cost of energy (LCOE) for utility-scale, commercial solar, and offshore wind compared to grid or gas costs.</p>
<p>The cumulative contracted renewable capacity through PPAs in the APAC region during the first half of 2022 stood at 18.6 GW, of which India, Australia, and Taiwan accounted for 16.5 GW or an 89% share.</p>
<p>Indian corporates have been sourcing renewable energy increasingly through captive projects, rooftop solar, and the open access mechanism. The commercial and industrial segment finds open access projects attractive because of the savings on power costs.</p>
<p>According to <a href="https://mercomindia.com/product/india-solar-open-access-market-report-q2-2022/" target="_blank" rel="noopener">Mercom India Solar Open Access Market Report Q2 2022</a>, India added 1.3 GW of open access solar in the first half of 2022, a 97% increase from 638 MW installed in the same period last year.</p>
<p>Australian corporate sector was the second highest procurer with 5.2 GW followed by Taiwan, which contracted 3.2 GW of renewable capacity through power purchase agreements (PPA).</p>
<p>Despite a sharp surge in raw material prices, the three countries ventured into signing offsite corporate PPAs (CPPA), covering 81% of the total renewable CPPA market in 1H 2022.</p>
<p>The report projects that renewable procurement capacity in APAC is set to increase by 18% to 22 GW by the end of 2022, with India, Australia, and Taiwan procuring a cumulative capacity of 44%, 28%, and 17%.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-44929 size-full" src="https://mercomindia.com/wp-content/uploads/2022/11/Picture1-6.png" alt="" width="602" height="417" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Picture1-6.png 602w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Picture1-6-300x208.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Picture1-6-600x416.png 600w" sizes="(max-width: 602px) 100vw, 602px" /></p>
<p>APAC’s corporate PPA market is slowly recovering from the aftermath of the Covid-19 pandemic. The report highlights that renewable procurement through CPPA would increase by about 4 GW during the second half of 2022, leading to a total procured capacity of 7 GW for the entire year.</p>
<p>The report projects that power generation costs in APAC would surge by 66% to around $5 trillion over the next three years, or $650 billion annually. This leads to certain models Wood Mackenzie shows that renewable procurement in the current environment would be beneficial in the long-run.</p>
<p>APAC benefits from three CPPA models: direct wire, retail or sleeved, and virtual or synthetic model.</p>
<p>Under all categories, large energy users from major industrial, retail, and technology sectors procured 10.7 GW of renewable capacity in 2022 and are the leading renewable offtakers covering 62% of the overall CPPAs contracted in APAC.</p>
<p>India, South Korea, Japan, the Philippines, Taiwan, Australia, and Singapore are the nations in the region that pursue the retail or sleeved model for renewable procurement through CPPAs, while the virtual or synthetic model is common in Australia and Singapore.</p>
<p>Under the direct wire model, there is no intermediary utility or retailer between the developer and the corporate buyer, and the contracts are simpler. However, the parties involved must rectify the land availability and grid connection.</p>
<p>The developer, buyer, or retailer gets higher flexibility to procure renewable energy under the retail/ sleeved model extending the possibility to develop larger plants. But such projects require the buyer and seller to carry out their operations in the same area.</p>
<p>The virtual or synthetic model highlights complex offsite financial contracts between the parties with certificates, while there is no physical power delivery and allows larger contracts to be executed.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gourav-mishra/" class="vcard author" rel="author"><span class="fn">Gourav Mishra</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="50" /></p>
<p><strong style="text-decoration: underline">Gourav,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav.</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="89" height="102" /><a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">Gourav</a> is a staff reporter with Mercom India with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India, and U.S., Republic, and Analytics India Magazine. Gourav has a Master&#8217;s in journalism from Jain University, Bengaluru. <a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav Mishra</a></div>
</div></div><div class="clearfix"></div></div></div>

Indian Corporates are Top Green Energy Buyers in the Asia Pacific Region

<p>The Tiruchirappalli Smart City Limited has tendered 2.4 MW of ground-mounted solar photovoltaic (PV) projects to be developed at sewage treatment plant (STP) Panchappur, located near Madurai By-Pass road in Tiruchirappalli City Corporation.</p>
<p>The bid-submission deadline is December 20, 2018. The estimated project cost is ₹125 million (~$1.78 million) and the scope of work includes the design, supply, installation, and commissioning of the ground-mounted solar PV project.</p>
<p>The successful bidder will also be responsible to provide barbed wire fencing arrangement, formation of durable surface for vehicular movement, and water supply arrangement for the solar power project site at a cost of ₹10 million (~$0.14 million).</p>
<p>When contacted, an official at Tiruchirappalli City Corporation said the solar PV project will help curb emissions and cut down power cost of the corporation drastically. “The Trichy corporation is gearing up for a solar revolution. We are also planning rooftop solar PV systems across our own office buildings. This will also be an example for residents of Trichy to go solar,” added the official.</p>
<p>Elaborating further, the official said, “According to our plan of implementation of Smart Cities initiative, the Tiruchirappalli City Corporation will also get rooftop solar PV systems installed atop rooftops of buildings owned by it.”</p>
<p>“There are over 200 buildings that have been earmarked for this amounting to total capacity of over 800 kW. Rooftop solar projects will lead to a direct reduction in power cost of these corporation offices,” informed the official.</p>
<p>Under the central government’s <a href="http://smartcities.gov.in/content/">Smart Cities Mission</a>, scores of cities have announced their plans for the installation of solar projects to make these cities sustainable.</p>
<p><a href="https://mercomindia.com/greater-chennai-corporation-solar-smart-city/">Recently</a>, the Greater Chennai Corporation also announced that it plans to install solar panels on 662 of its buildings. These buildings would include government offices, schools, and hospitals and these together are expected to generate 3.06 MW of electricity.</p>
<p><a href="https://mercomindia.com/tumakuru-smart-city-rooftop-tender/">Back in March 2018</a>, Karnataka’s <a href="http://www.smartcitytumakuru.in/">Tumakuru Smart City Limited</a> tendered 2.7 MW of grid-connected rooftop solar projects to be established on the city’s government buildings.</p>
<p><a href="https://mercomindia.com/diu-smart-city-100-percent-renewable-energy/">Then in April 2018</a>, the <a href="http://diu.gov.in/dmc-smart-city.php">Diu Smart City </a>became the first in the country to run on 100 percent renewable energy during daytime hours. It has developed 9 MW solar park in the city along with rooftop solar panels located on 79 government buildings, generating 1.3 MW annually.</p>
<p><a href="https://mercomindia.com/indore-issues-tender-for-30000-smart-meters/">Recently</a>, Indore Smart City Development Limited also issued a tender for smart meters to be installed under Indore Smart City project. This is a percentage rate tender for the supply, installation of smart energy meters with RF Mesh Communication Module in area-based development (ABD) area.</p>
<p>Image credit: By Appaji [<a href="https://creativecommons.org/licenses/by/2.0" target="_blank" rel="noopener">CC BY 2.0</a>], via Wikimedia Commons</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/saumy/" class="vcard author" rel="author"><span class="fn">Saumy Prateek</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Saumy Prateek</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/saumy/" target="_blank" rel="noopener">More articles from Saumy Prateek</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="79" height="102" /><a href="https://mercomindia.com/author/saumy/" rel="noopener"><strong>Saumy Prateek, </strong> </a>is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism &amp; Mass Communication from the Manipal Institute of Communication at Manipal University.<a href="https://mercomindia.com/author/saumy/">More articles from Saumy Prateek.</a></div>
</div></div><div class="clearfix"></div></div></div>

Tamil Nadu’s Trichy Floats Tender for 2.4 MW of Solar Projects under Smart Cities Mission

power-costs

Get the most relevant India solar and clean energy news.

RECENT POSTS