Lower module pricing will bolster PV deployment in India
More than 80% of India’s solar equipment requirements are met through imports from China. Against this backdrop, industry analysts see the predicted 30% lower module pricing, following China’s revised policy, as a good news for Indian PV projects.
3 solar takeaways from 2018 CEEW REdialogue
On the sidelines of the Renewable Energy Dialogue 2018, organized by Council on Energy, Environment and Water (CEEW) in New Delhi recently, pv magazine spoke to the Counil’s founder and CEO, Arunabha Ghosh, senior programme lead, Kanika Chawla, and Hero Future Energies CEO, Sunil Jain about the performance of India’s renewable sector over the past year, the reasons for the deferral of solar PV project auctions, and the poor uptake of rooftop solar in India.
India’s top 10 renewable players claim over 60% of projects, says CEEW-IEA study
Despite this, at least half the companies among the top 10 – in terms of shares of projects sanctioned – changed every year between 2014 and 2017. International independent power producers (IPPs) accounted for around 45% of the sanctioned projects in solar parks. Around 35% of the park projects were awarded to IPPs registered in Mauritius, where companies benefit from preferential taxation.
India saw more utility-scale PV tenders in Q1 2018 than in entire 2017 – Bridge To India
India saw the issuance of 13 new utility-scale solar PV tenders totaling 11,945 MW in the quarter ending March 31, 2018, which is 68% more than in the entire of 2017. However, tender capacity for rooftop solar PV (greater than 1 MW in size) was down 50%, at 102 MW.
Fortum selling 54% shares of its 185 MW PV portfolio in India
The company was adamant that it will not exit the Indian PV market, after rumors last October suggested that the company will sell its PV assets in India. Now, the company reiterates its commitment and stresses that additional funding will be used to develop new assets.
Azure Power secures 25-year PPA for 75MW project in Assam
Earlier this year the state announced it would install an additional 590 MW of solar PV to meet growing energy demand. Last year Assam had a 4.2% energy deficit.
India: The first solar plant bid at INR 2.44 expected to go live in August
The Indian Ministry of New and Renewable Energy (MNRE) says the nation will exceed 175 GW of installed renewable energy capacity as plans for bidding for 115 GW of renewable power projects to March 2020 were announced. The target for PV parks has been increased from 20 GW to 40 GW with some 41 parks in 21 states – with aggregate capacity of more than 26 GW – already sanctioned.
IRENA: Renewables can account for up to two-thirds of total energy use, and 85% of power generation by 2050
In the latest edition of its long-term renewable energy outlook, the International Renewable Energy Agency (IRENA) calls for at least six-fold deployment of renewables by 2050, compared to the levels set out in current plans. Investment in low-carbon technologies needs to increase by around 30% to $120 trillion to enable the energy transition and avoid escalating stranded assets, the report finds.
ReNew Power looks for $900 million initial public offerings
ReNew Power Ventures Pvt Ltd has expected to raise $800-900 million through the IPO, which it is planning to file in the coming two weeks. The renewable company has asked nine investment banks to manage the IPO.
Solar modules with bypass diodes will be classified under 8541, hence no custom duty
Central Board of Indirect Taxes and Customs have issued a clarification regarding solar module equipped with bypass and blocking diodes. Market analysts assert that this step will increase PV installation in the second half of 2018.
