SunEdison commissions 146 Mw of solar power in south India

Renewable energy development company SunEdison said that it has successfully commissioned 146 megawatts DC of solar power plants in the southern Indian states of Tamil Nadu, Andhra Pradesh and Telangana.

The company plans to develop more than 1,500 megawatts of solar and wind energy power plants in India over the next 18 months, and is committed to developing, financing, and building 15.2 gigawatts of renewable energy in the country by 2022.

Pashupathy Gopalan, president, SunEdison India said, "SunEdison has built more than 470 megawatts of renewable energy in India so far, propelling the country towards its goal of installing 175 gigawatts of renewable energy by 2022."

The energy from the solar power plants will be sold to local distribution companies and private corporations, and should provide 25-years of cost effective, emission free electricity.

Original Post: BS Reporter

SunEdison installs 1.9 MW solar system for Delhi Metro

U.S. solar power developer completes construction of eight rooftop arrays at stations along the Indian city's Badarpur-Fariadabad line; two more PV systems on the way for further lines.

The Delhi Metro system is now partly solar-powered, with further arrays planned for more sections of the network.

EveryStockPhoto/dlisbona.

SunEdison – a U.S.-headquartered developer of solar modules and downstream projects – has completed a 1.9 MW PV project for India’s Delhi Metro Rail Corporation (DMRC), the first of its kind for the Indian capital.

SunEdison has installed solar panels at eight stations on the Badarpur-Faridabad line, making it the first metropolitan line in DMRC’s network to be completely solar-powered. SunEdison is also working on solar power stations for the Yamuna Bank station and Yamuna Bank yard. Collectively, these two arrays will have a capacity of 1.9 MW.

The completed arrays will power lighting and other auxiliary requirements at the station and depot buildings where they are sited. Construction took just two months, says SunEdison, and the arrays will deliver clean electricity for the next 25-30 years with little-to-no maintenance required.

In addition to the 2.8 MW of solar PV capacity already commissioned to SunEdison, the DMRC has signed power purchase agreements (PPAs) for a further 7 MW of rooftop capacity across its vast network of lines, depots and stations. In total, the corporation hopes to add 50 MW of solar capacity to its stations and other buildings.

"Millions of people rely on the Delhi Metro each day, and by installing SunEdison’s solar system in eight of the metro lines, we are excited that these commuters will be able to benefit from a clean and reliable source of electricity,"said SunEdison’s president of Asia-Pacific and Sub-Saharan Africa Pashupathy Gopalan.

These efforts by the DMRC to adopt and embrace renewable energy have been recognized by India’s Ministry of New & Renewable Energy (MNRE), and the United Nations Framework Convention on Climate Change (UNFCCC) has also praised DMRC’s approach, registering its green initiative as the world’s first transport sector project under its Program of Activities.

Original Post: 07. SEPTEMBER 2015 |  BY:  IAN CLOVER

West Asian companies look to buy Indian green power assets

The companies are seeking opportunities in growth markets at a time when crude oil prices have fallen

Original Post : Utpal Bhaskar, Livemint

India has pushed green power to the top of its energy security agenda and needs as much as $200 billion to meet its target of installing 100GW of solar power and 60,000MW of wind power by 2022. Photo: Bloomberg

New Delhi: West Asian investors are looking at acquiring green power assets in India for the first time, lured by the government’s push for renewable energy.

Doha-based Nebras Power QSC and Dubai’s private equity firm Abraaj Group are evaluating renewable energy projects, with Abraaj Group evaluating at least two operating green energy platforms for investing in India.

This development comes in the backdrop of India’s growing focus on the Gulf region in the era of depressed oil prices.

“West Asian investors are looking at the Indian green energy space for the first time,” said a person aware of the development, requesting anonymity.

Abraaj Group has $9 billion under management with a focus on private equity investing in growth markets.

Qatar Electricity and Water Co. has a 60% stake in Nebras Power, with Qatar Holding LLC and Qatar Petroleum International Ltd holding 20% each in the company, which invests “in international greenfield and brownfield development or through acquisition”.

Nebras Power recently signed an agreement with Qatar Development Fund to invest in energy projects in other countries.

West Asian companies are seeking opportunities in India at a time when crude oil prices have fallen, impacting the investments made in conventional energy projects. This is expected to worsen with the likely lifting of trade restrictions on Iran and indications of a slowdown in the Chinese economy.

Crude oil prices in the Indian energy basket averaged at $56.30 per barrel in July, as against $84.16, $105.52, $107.97 and $111.89 in 2014-15, 2013-14, 2012-13 and 2011-12, respectively.

While an external spokesperson for Abraaj Group declined to comment, Nebras Power couldn’t be immediately reached for comments.

Of the 189.43 million tonnes per annum (mtpa) of crude oil sourced by India last year, 109.76 mt came from West Asia.

The National Democratic Alliance government has been trying to tap West Asian countries for investing in Indian infrastructure projects without much success.

The initial focus was to attract investments from Saudi Arabia, Qatar, the UAE and Kuwait. The plan didn’t succeed.

Investments from the UAE so far have amounted to $10 billion. According to government data, India-UAE trade, valued at $180 million per annum in the 1970s, is currently at around $60 billion, making the UAE India’s third largest trading partner in 2014-15 after China and the US. The UAE was the second largest export destination for India ($33 billion for 2014-15). For the UAE, India was the largest trading partner for the year 2013 (over $36 billion in non-oil trade).

The government has pushed renewable energy to the top of its energy security agenda and is looking to provide green power at less than Rs.4.50 a unit. India needs as much as $200 billion to meet its target of installing 100 gigawatts (GW) of solar power and 60,000 megawatts (MW) of wind power by 2022.

“Ind-Ra (India Ratings) expects a strong pick-up in solar power installations over the next four-five years, driven both by the government impetus of 100GW of solar power by FY22 (60GW through grid-connected solar projects) and a decline in solar power generation costs,” India Ratings and Research, the domestic arm of Fitch Ratings, said in a 22 July report.

There has been growing interest from overseas investors in the Indian renewable energy space.

Russia’s OAO Rosneft, the world’s largest publicly traded oil company, among others are exploring investments in India’s solar energy sector.

In June, SoftBank Corp., along with Bharti Enterprises Ltdand Taiwan’s Foxconn Technology, proposed to invest at least $20 billion in solar energy projects in India through a joint venture, SBG Cleantech Ltd. US-based First Solar Inc.and China’s Trina Solar are among those considering plans to set up manufacturing facilities in India.

US-based SunEdison Inc. had also said it plans to establish a joint venture with Adani Enterprises Ltd to build a solar photovoltaic manufacturing facility with an investment of $4 billion.

NTPC plans solar powerpush

The power firm looks to make solar equipment as part of its strategy to be present across the renewables value chain

Original Post: Utpal Bhaskar, Livemint

India needs as much as $200 billion to meet its target to install 100GW of solar power and 60,000MW of wind power by 2022. Photo: AP

NTPC Ltd is exploring options to manufacture solar equipment as part of the state-owned power producer’s strategy to be present across the green energy value chain.

To start with, India’s largest power generator is evaluating a plan to set up a 1,000-megawatt (MW) per annum manufacturing capacity, which may require an investment of Rs.5,000 crore.

The plan stems from the fact that NTPC has to set up 10,000 MW of solar power capacity on its own, along with buying 15,000MW from solar project developers, on behalf of the ministry of new and renewable energy.

“We are evaluating the opportunity. We want to be present across the value chain—from polysilicon to solar panels. We have the money, and the present costs can be reduced. Silicon and quartz are available in abundance in the eastern part of India. A presentation on the subject has been made,” said an NTPC executive, requesting anonymity. The plan is at a preliminary stage.

There has been considerable interest in the solar-equipment manufacturing space in India, with US-basedSunEdison Inc. announcing its plans to establish a joint venture (JV) with Adani Enterprises Ltd to build a solar, photovoltaic manufacturing facility in India at an investment of about $4 billion.

US-based First Solar Inc. and China’s Trina Solar are among companies that are considering plans to set up manufacturing facilities in India.

With an installed capacity of 45,048MW, NTPC has around a 17% share of India’s power-generation capacity of 272,593MW, and has set itself a target of becoming a 128,000MW power producer by 2032. It plans to raise the contribution of renewable energy to 28% of its planned capacity by then.

“It is the right time to go for manufacturing. We have a large solar power generation commitment on ourselves. Also, in due course, NTPC has the target to reduce its dependence on fossil fuel sources,” said the executive cited earlier. “With a focus on renewable, solar is a viable solution.”

The government has pushed renewable energy to the top of its energy security agenda and is looking to provide green power at less than Rs.4.50 a unit.

While the current installation cost of a solar project is around Rs.6 crore per MW, economies of scale are expected to drive down the cost to Rs.4.5 crore per MW.

India needs as much as $200 billion (Rs.12.75 trillion) to meet its target to install 100GW of solar power and 60,000MW of wind power by 2022.

Analysts expect solar power tariffs to fall.

“Solar power is likely to become cheaper than, or equivalent to, conventional thermal energy prices over the next two to three years and reach Rs.4-4.5/kWh by FY18,” India Ratings and Research, the domestic arm of Fitch Ratings, said in a 22 July report. “This will be driven by a decline in capital costs (solar modules and other balance of plant), an increase in efficiency, a shift towards large solar photovoltaic projects, leading to the economies of scale and lower return expectations by developers,” the report added.

Queries emailed to spokespersons of NTPC, ministry of new and renewable energy, SunEdison and Adani remained unanswered till press time.

The emphasis on solar and wind power is also expected to strengthen India’s standing at global climate change negotiations that culminate in a summit in Paris in December.

The government’s focus on renewable energy is aimed to minimize India’s dependence on coal-fuelled electricity.

While there has been a growing interest from overseas and domestic investors in the Indian renewable-energy space, concerns are being raised over its viability in the backdrop of state electricity boards (SEBs) increasingly showing a reluctance to buy power on account of their poor financial health. With a debt of Rs.3.04 trillion and losses of Rs.2.52 trillion, SEBs are on the brink of financial collapse.

Russia’s OAO Rosneft, the world’s largest publicly traded oil company, is exploring a huge investment in solar energy in India, Mint reported on 14 July.

Also, SoftBank Corp., with Bharti Enterprises Ltd andFoxconn Technology Group of Taiwan, in June proposed to invest at least $20 billion in solar energy projects in India through a joint venture, SBG Cleantech Ltd.

Adani, SunEdison maydrop joint venture plans

Adani Enterprises may partner with another manufacturer, says a person familiar with the development

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Original Post: Utpal Bhaskar, Live Mint

Photo: Bloomberg

New Delhi: Adani Enterprises Ltd’s plans to set up a $4 billion solar photovoltaic manufacturing facility in partnership with US-based SunEdison Inc. may come unstuck.

“It is not working out. Adani Enterprises may partner with another manufacturer,” said a person familiar with the development who spoke on condition of anonymity.

A second person aware of the development confirmed it, but asked not to be identified.

Spokespersons for Adani Enterprises and SunEdison didn’t respond to an email sent on 7 August and subsequent reminders seeking comment.

On 20 August, Reuters reported that the Adani Group was in talks with Japan’s SoftBank Corp. and Foxconn Technology Co. Ltd to secure investment in a $3 billion project to make solar cells and panels in the country. It added, citing an unnamed source, that Adani and SunEdison had ended their proposed partnership in June.

Meanwhile, SunEdison has been firming up its India strategy. It recently agreed to acquire Continuum Wind Energy Ltd, a Singapore-based company which owns and operates 242 megawatts (MW) of wind power plants in Maharashtra and Gujarat, besides a 170MW wind power unit under construction in Madhya Pradesh.

Also, it signed a long-term power purchase agreement with Tata Power Delhi Distribution Ltd to provide 180MW of electricity.

The National Democratic Alliance government has pushed renewable energy to the top of its energy security agenda and is looking to provide green power at less than Rs.4.50 per unit. India needs as much as $200 billion to meet its target of installing 100 gigawatts (GW) of solar power and 60,000MW of wind power by 2022.

The Adani-SunEdison facility was to be constructed in Mundra, Gujarat. A memorandum of understanding to the effect was signed in the backdrop of the seventh Vibrant Gujarat summit in January, inaugurated by Prime Minister Narendra Modi in Gandhinagar.

“The facility will create enough solar panels to fuel substantial solar growth in India, furthering India’s goals for clean, renewable energy independence, and will add up to 20,000 jobs to the local economy,” Adani Enterprises and SunEdison said in a joint statement on 11 January.

“During the first half of 2015, SunEdison and Adani will complete a comprehensive analysis of the joint venture opportunity and business plan. Pending successful outcome of the study, construction of the facility will begin shortly thereafter,” the statement said, adding, ‘The new $4 billion facility will be constructed in Mundra, Gujarat, India, over a three to four year period. This facility will vertically integrate all aspects of solar panel production on site, including Polysilicon refining, ingots, wafers, cells and panels production with a broader ecosystem involving extended supply chain for raw materials and consumables,” the statement added.

There has been growing interest from overseas investors in the Indian renewable energy space. Russia’s OAO Rosneft, the world’s largest publicly traded oil company, US-based First Solar and China’s Trina Solar are among the firms looking for opportunities in India’s solar energy sector. In June, SoftBank, along with Bharti Enterprises Ltd and Taiwan’s Foxconn Technology, proposed to invest at least $20 billion in solar energy projects in India through a joint venture, SBG Cleantech Ltd.

According to the government, the Indian clean energy market is largely driven by asset-based finance to the extent of 94% of the total investment in the sector.

In India, the world’s biggest greenhouse gas emitter after the US and China, renewable energy currently accounts for only 13%, or 35,777MW, of the total installed power capacity of 2,74,818MW.

Analysts believe that local manufacturing of solar power generation and transmission equipment will play an important role as the country builds up its solar energy capacity.

“The associated industry of solar cell manufacturing, power storage and transmission equipment technology cycles are contracting, and finance needs to evolve accordingly to provide a definitive boost. A short-term financing approach focuses only on current technologies which have shorter shelf life and expects higher returns. Alternatively, investors now need to finance businesses not products, adopting a long-term approach, as it is the adaptability of business to environment and technologies’ that form the pillars of success,” Yes Bank Ltd said in a 19 August report.

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