Floating Solar

The New Delhi based lender—which has funded over 45 MW of distributed solar energy assets—will use the new investment to catalyze the growth of residential and commercial solar systems, solar pumps, floating solar and solar cold chains in India.

The Climate Investment Platform launched by three multilateral bodies in September is now open for business and renewables companies in developing nations across 14 regions including south Asia could qualify for help with clean energy facilities, renewables-related grid improvements and energy efficiency schemes.

Floating PV has matured quickly, but while the opportunity of solar on the sea may appear immense, there is nothing trivial about the challenges posed by salinity, wind, and waves. However, technical and financial solutions are appearing on the market, giving small island communities a chance to reduce their reliance on polluting diesel.

At 58 GW, the state of Maharashtra has the greatest potential to generate solar energy through floating PV or ‘floatovoltaics,’ according to a study by The Energy and Resources Institute.

The grid-connected solar project shall come up at a reservoir of NTPC’s Auraiya Gas Power Plant in Uttar Pradesh. It is to be developed under Open category, allowing use of solar cells and modules of any origin.

Capacity additions for the current fiscal year are set to exceed the previous accounting period’s 8,532 MW. With Rs405 billion invested in clean energy in the last fiscal year, spending in the first nine months of 2019-20 has been estimated at Rs367 billion.

Developers have until February 25 to bid for ISTS connected wind-solar hybrid projects to be set up anywhere in India at the location of their choice. Bidding for 4 MW of grid-connected floating solar project with 2 MW/1 MWh battery energy storage system—to be set up in Andaman & Nicobar Islands—closes on February 13.

Norwegian analyst Rystad Energy has predicted the stop on PV tenders in Karnataka will see Rajasthan become India’s leading solar state this year. The market research firm expects India to add only 10 GW new solar in 2020, however, and the same figure in 2021.

The annual global outlook report for solar published by IHS Markit notes there was no real uptick in the amount of new capacity added last year, compared with the returns seen in 2018. That is likely to kill any hope India has of overtaking the U.S. as the world’s second biggest solar market in 2020.

The full house at the Future PV Roundtable at this year’s Renewable Energy India Expo was evidence of the buoyant expectations for the application of floating PV in the Indian market. But with the technology still at a relatively early stage in the country, many concerns are rising to the surface.