Top Solar and Other Renewable Energy News Headlines from India in November 2017
December 4, 2017
Here is a list of important headlines, developments, and data points from India’s renewable energy sector from a busy November 2017.
Indian solar installations totaled 2,247 MW in Q3 2017, up 300 MW from Q2 according to the recently released India Solar Market Update by Mercom India Research.
The Pavagada Solar Park in the Pavagada Taluk, Tumakuru District of Karnataka is set to become the largest solar park in a single location and will have 2 GW of capacity when complete.
CleanMax Solar, an Indian rooftop solar developer, has raised $15 million (~₹964.52 million) in investment from the International Finance Corporation (IFC), a member of the World Bank Group.
Veer Energy & Infrastructure Limited has entered the business to consumer (B2C) market to provide EPC solutions to install rooftop solar projects.
The Canada Pension Plan Investment Board (CPPIB) is set to invest approximately $200 million (~₹12.9 billion) in ReNew Power Ventures in the form of compulsory convertible preference shares (convertible debt) that will convert to equity shares at the time of initial public offering.
Following a recent lull in tender activity, the Ministry of New and Renewable Energy (MNRE) is preparing to announce a spate of tenders for solar projects in the coming four months, starting in December 2017, to help the government reach the goal of installing 100 GW of solar capacity by 2022.
Power Sale Agreement (PSA) for 1,000 MW of inter-state transmission system (ISTS)-connected wind projects has been signed. The Solar Energy Corporation of India (SECI) entered PSAs with distribution utilities/companies (DISCOMs) of Uttar Pradesh, Bihar, Jharkhand, Assam, Punjab, Goa and Odisha for the supply of power from these projects.
The increase in rooftop solar installations is being driven by the growing number of commercial, industrial, and government facilities that are using rooftop solar as a way to reduce their electricity bills.
The Power purchase agreement (PPA) for the 250 MW grid-connected solar photovoltaic (PV) project to be developed in Kadapa Solar Park will be signed soon.
Solar accounted for 5.3 billion units (BU) of electricity produced in India during the third quarter (Jul-Sep) of 2017, a 91 percent increase over the third quarter of 2016.
The Solar Energy Corporation of India (SECI) will be tendering 2,000 MW of inter-state transmission system (ISTS)-connected wind projects to be developed across the windy states in December 2017.
Power purchase agreements (PPAs) for five solar projects with a combined total capacity of 750 MW of grid-connected solar were recently signed by the Solar Energy Corporation of India (SECI).
The Photovoltaik-Institut Berlin (PI Berlin) has created an Indian subsidiary based in New Delhi that will enable it to provide services to the Indian market from a local base of operations.
India’s renewable energy industry and various government agencies that oversee it have developed a range of mobile and desktop applications (apps) to encourage interaction, increase transparency and improve customer understanding of India’s renewable energy market.
The Government of India (GoI) and the World Bank have signed agreements to develop large-scale solar parks in India. As part of the agreements the World Bank will provide $100 million (~₹6.5 billion) to develop solar power generating projects.
An oral hearing regarding the ongoing anti-dumping investigation into solar imports from China PR, Chinese Taipei, and Malaysia will be held on December 12, 2017.
Two Oil majors of India, The Indian Oil Corporation Limited (IOCL), an Indian state-owned oil and gas company and Hindustan Petroleum Corporation Ltd (HPCL) launched electric vehicle (EV) charging stations in Nagpur in their company operated fuel stations.
Canadian Solar, a global module supplier and solar project developer, has sold its 80 MW (108 MW DC) grid-connected solar project in Maharashtra.
Solar project auction activity in October 2017 witnessed a steep 54.9% decline while tenders were up 25.3 percent compared to September 2017 in India.
India’s electric vehicle (EV) sector is becoming competitive. EV is the next big Cleantech opportunity in India and market players are grabbing it with both hands.
A winning bid of ₹4.18/kWh without viability gap funding (VGF) was quoted in a 5 MW grid-connected solar PV project auction conducted by Solar Energy Corporation of India (SECI), under NSM Defense VGF Program.
ABB is teaming up with transportation officials in the city of Jabalpur to help create a network of solar-powered charging stations that will be used to power e-rickshaws.
The misclassification of solar modules by port authorities has created confusion and delays in the Indian solar sector besieged by challenges.
In the first three quarters of 2017, the Indian solar sector saw almost $4.2 billion (~₹272 billion) in announced corporate, project funding, and M&A deals.
Solar and Wind accounted for majority of new power capacity additions with renewable energy installations accounting for almost 19 percent of the country’s total installed power as of September 30, 2017.
The second edition of the Global Renewable Energy Investors Meet & Expo, RE-INVEST 2017, that was scheduled to be held December 7-9, 2017 at the India Expo Centre, Greater Noida, National Capital Region of Delhi has been postponed to April 19-21, 2018 in the same venue.
The Gujarat High Court has ruled in favor of Gujarat Urja Vikas Nigam limited (GUVNL) and given it the go-ahead to conduct a 500 MW wind auction.
India recorded a power supply deficit of 0.7 percent during the six-month period between April to September 2017. Over 615,494 million units (MU) of electricity was supplied, 4,260 MU less than the targeted energy requirement of 619,754 MU.