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<ul><li>The central <keyword id="26362" type="ORGANIZATION" weightage="20" keywordseo="Government">government</keyword> has instructed the <keyword id="1937268" type="ORGANIZATION" weightage="20" keywordseo="Solar-Energy-Corporation-of-India">Solar Energy Corporation of India</keyword> (SECI) to release a tender to add 1,000 MW of solar energy capacity every month from November 2018 to February 2019 in order to meet its targets. </li><li>The tenders, if successfully bid for by developers, will add 4,000 MW to the already existing capacity of 25,000 MW in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>. </li><li>As a result of the muted response to previous auctions, SECI will incentivise developers to bid by increasing <keyword id="6357464" type="UNKNOWN" weightage="20" keywordseo="tariff">tariff</keyword> rates and extending project timelines. </li></ul>As it heads into election year, the central government is wary of underperforming on its solar energy mandate. As a result, it has instructed the Solar Energy Corporation of India (SECI), a company housed under the Ministry of New and <keyword id="34553" type="ORGANIZATION" weightage="20" keywordseo="renewable-energy">Renewable Energy</keyword> to facilitate the government’s solar energy projects, to release a tender to add 1,000 MW of solar energy capacity every month from November 2018 to February 2019, according <a href="https://indianexpress.com/article/business/business-others/govt-asks-solar-energy-corp-to-bring-tenders-of-4000-mw-5452661/">to the Indian Express</a>. The tenders, if successfully bid for by developers, will add 4,000 MW to the already existing capacity of 25,000 MW in India. However, going by <a href="https://energy.economictimes.indiatimes.com/news/renewable/developers-still-reluctant-to-bid-for-solar-power-assets/66687042">the muted reaction</a> to recent manufacturing-linked tenders, it remains to be seen if anyone will bid for them. Why is the interest in these tenders waning? It seems that the lack of certainty regarding the demand for solar energy doesn’t justify the investment required. In June 2015, the Indian government announced that it planned to add <a href="https://www.business-standard.com/article/economy-policy/cabinet-revises-solar-power-target-to-1-lakh-mw-by-2022-115061700668_1.html">100,000 MW</a> of solar energy capacity by 2022. What seemed an ambitious target at the time became a lot more realistic over the next few years as a number of solar power projects were commissioned and India undertook the stewardship of <a href="https://unfccc.int/news/international-solar-energy-alliance-launched-at-cop21">the International Solar Alliance</a>. However, in the last year, there has been a significant slowdown in the solar energy sector. Imports of solar panels from China, which are used in 80% of solar power projects in India, have been getting more expensive because of the falling rupee and a reduction in subsidies from the Chinese government to the solar energy sector. Funding from banks has also dried up as the sector becomes less of a safe bet. All that means is the upcoming auctions will be crucial to get India’s solar energy ambitions back on track. And SECI knows that it has to adequately incentivise developers to bid. It has, therefore, <a href="https://economictimes.indiatimes.com/industry/energy/power/terms-of-10-gw-solar-tender-unlikely-to-be-relaxed/articleshow/66628663.cms">increased the tariff rates</a> for solar energy developers to sell their products to distribution companies. It has also extended timelines for the implementation of projects. If the next few tenders fail to attract sufficient bids, it might have to do away with the process of capping tariff rates entirely and even permanently relax <a href="https://www.thehindu.com/business/Industry/centre-imposes-25-safeguard-duty-on-import-of-solar-cells/article24565771.ece">the 25% duty imposed</a> on imports of Chinese solar panels and modules. SEE ALSO: <a href="https://www.businessinsider.in/softbanks-ceo-pledges-to-give-india-and-other-solar-alliance-members-free-power-in-25-years/articleshow/66065755.cms">Softbank's CEO pledges to give India and other solar alliance members free power in 25 years</a> <a href="https://www.businessinsider.in/if-indias-solar-energy-is-cheaper-than-coal-why-isnt-the-industry-thriving/articleshow/65605221.cms">If India’s solar energy is cheaper than coal, why isn’t the industry thriving?</a> <a href="https://www.businessinsider.in/india-needs-to-support-domestic-manufacturers-in-order-to-achieve-its-solar-energy-targets/articleshow/63280197.cms">India needs to support domestic manufacturers in order to achieve its solar energy targets</a>

India may have a tough time meeting its solar energy capacity targets as developers steer clear of government auctions

<ul><li><keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> wants to quadruple its current <keyword id="173970" type="PERSON" weightage="20" keywordseo="solar-capacity">solar capacity</keyword> to 100GW by 2022.</li><li>Protectionist duties and low tariffs threaten solar developers, making projects unviable. </li><li>Rooftop solar installation costs are still prohibitive.</li></ul>India’s solar industry has grown at a rapid pace over the past few years with <keyword id="3286175" type="PERSON" weightage="20" keywordseo="Solar-tariffs">solar tariffs</keyword> falling to record lows, even below the prevailing <keyword id="6356966" type="UNKNOWN" weightage="20" keywordseo="coal">coal</keyword> tariffs. However, a number of hurdles remain that is keeping the industry from booming. India has an ambitious target to increase its solar power base – by 2022, it wants to quadruple its current solar capacity to 100GW. A number of industrial-scale <keyword id="6357019" type="UNKNOWN" weightage="20" keywordseo="solar-energy">solar energy</keyword> plants have come up in the past few years, and the government-backed solar power company Solar Energy Corp. of India (SECI) and state governments have been auctioning solar energy capacity to various private developers using a bidding process that favours the cheapest tariffs. Here are some of the recent trends that could slow down the solar energy sector in India: Sustainable solar tariffs After a period of setting record low solar tariffs resulting from a “reverse bidding” process, which selects the cheapest bidder, India is now said to be considering a ceiling on solar tariffs – a cap of ₹2.5 ($o.035) and ₹2.68 ($0.038) per unit – for solar power companies that use both domestic and imported equipment, the Mint <a href="https://www.livemint.com/Industry/CC7LKHscZyknUpuDi2GcjL/India-all-set-to-introduce-cap-on-solar-power-tariffs.html">reported </a>earlier this week. At that ceiling level, however, the tariff amount is still lesser than what was set during many auctions which many developers say may be too low for these projects to be viable. At the same time, if the tariff amount exceeds a certain threshold – ₹3 per unit – then the developers <a href="http://www.atimes.com/article/import-duties-may-leave-indias-solar-industry-in-the-dark/">face the risk</a> that state power supply distribution companies wouldn’t buy power from them, leaving these plants unsustainable. Protectionist duties India imports over 90% of solar equipment including cells and modules from overseas, mainly from China and Malaysia. Last month, the Indian government said it would impose a 25% safeguard duty on solar equipment imports to protect domestic manufacturers, which could further put pressure on the razor margins of solar developers. While this duty has temporarily been put on hold following protests from a group of local manufacturers and a court order, <a href="http://www.atimes.com/article/import-duties-may-leave-indias-solar-industry-in-the-dark/">concerns </a>remain about future protectionist measures that could squeeze their margins further. Concerns about quality With steep drop in prices, there are also concerns about the quality of the equipment being deployed, raising questions about future regulation and related costs. The <keyword id="17408" type="DOMAIN" weightage="20" keywordseo="infrastructure">infrastructure</keyword> of many solar plants in India didn’t meet many environmental stress factors and technical standards, according to a <a href="https://www.ptb.de/lac/index.php?eID=tx_nawsecuredl&amp;u=0&amp;file=fileadmin/redakteure/dokumente/Q52_Asia/Bilateral_Projects/India_Solar_Industry/PUBLIC_Pilot_Study_on_Quality_Aspects_of_PV_Power_Plants_in_India_.pdf&amp;t=1564738274&amp;hash=5936e35fbab6f0acade3d86e2f0fcc2db8244dff">study </a>conducted by PI Berlin, a German consulting firm. According to the firm, rigorous requirements during the tender process that ask for certifies failure-free installation and durable products should become a must. “Competitive reverse auctions that push down bid prices to extremely low levels, is a scenario where cutting corners in regards to quality may become a common practice,” said the PI report. Rooftop solar math India also has a target of increasing its rooftop solar capacity to 40,000 megawatt (MW) by 2022 similar to trends in many European countries. But, here too, prohibitive costs of solar equipment have kept many residential property owners from switching to rooftop solar despite a government subsidy on solar equipment and the potential for earnings by selling excess generates power back to the grid. Meanwhile, coal continues to serve a third of India’s power generation but increasingly many coal power plants are running into difficulties because of commercial disputes, according to a report by HSBC, which added that in the long term, <keyword id="34553" type="ORGANIZATION" weightage="20" keywordseo="renewable-energy">renewable energy</keyword> sector should see strong growth. "We think the economics will continue to shift in favour of lower carbon power in India, especially as it promotes solar," the <a href="https://economictimes.indiatimes.com/topic/solar-power">report</a> added.

If India’s solar energy is cheaper than coal, why isn’t the industry thriving?

AdGreen Energy (<keyword id="4621631" type="General" weightage="80" keywordseo="agel" source="Orion">AGEL</keyword>), the renewables arm of the Adani Group, on Friday announced that its fourth wind-solar hybrid power plant at Jaisalmer in Rajasthan is fully operational and the asset has been capitalised. The combined operational generation capacity of this newly added hybrid power plant is 700 MW and has a power purchase agreement (PPA) at Rs 3.24/kwh for 25 years, according to a statement from the firm released on Friday. This new hybrid power plant consists of a combination of 600 MW solar and 510 MW wind plants. The company said its latest hybrid plant deploys advanced renewable technologies like bifacial solar PV modules and horizontal single-axis trackers (HSAT) systems to enable maximum electricity generation from solar energy. A bifacial panel can generate power from both sides, boosting overall electricity production. The plant is co-located and is designed to deliver capacity utilisation factor (CUF) of minimum 50 per cent, the highest CUF of any renewable project in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>. The firm said the plant harnesses the potential of renewable energy by resolving intermittency of the generation and provides a more reliable solution to meet the rising power demand. With this, AGEL's operating wind-solar hybrid portfolio has now reached 2,140 MW, continuing to be the largest in the world, according to the company statement. With the successful operationalisation of the 700 MW plant, the world's largest wind-solar hybrid power plant, AGEL now has the largest operating renewable portfolio in India with 8,024 MW, <keyword id="4343578" type="General" weightage="100" keywordseo="adani-green" source="Orion">Adani Green</keyword> said on Friday. The plant is housed under AGEL's 100 per cent subsidiary -- Adani Hybrid Energy Jaisalmer Four Limited. "Earlier in May 2022, AGEL had operationalised India's first hybrid power plant of 390 MW," Adani Green said in the statement, adding that this was followed by the commissioning of the world's largest co-located hybrid power plant of 600 MW in September 2022 and the third hybrid power plant of 450 MW in December 2022. "All three of these hybrid energy generation assets are located in Jaisalmer, Rajasthan." Adani Green Energy (AGEL) has one of the largest global renewable portfolios with the overall portfolio of 20.4 GW including operating, under-construction and awarded projects catering to investment-grade counterparties. The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects. Key customers of AGEL include <keyword id="1937268" type="General" weightage="50" keywordseo="solar-energy-corporation-of-india" source="Orion">Solar Energy Corporation of India</keyword> (SECI), National Thermal Power Corporation (NTPC) and various State Discoms. AGEL, a renewable energy generation company, which was listed in 2018, is helping India meet its COP26 goals. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/revealed-first-glimpse-of-indias-c-295-aircraft-that-airbus-and-tatas-will-co-produce/articleshow/98384456.cms">Revealed: First glimpse of India's C-295 aircraft that Airbus and Tatas will co-produce</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-group-stocks-rally-after-it-sells-stake-to-gqg-partners/articleshow/98384846.cms">Adani group stocks rally post GQG deal: group marketcap surges by ₹73,000 crore</a>

Adani Green says its operating renewable portfolio reaches 8,024 MW, largest in India

<keyword id="3179546" type="General" weightage="20" keywordseo="adani-green-energy" source="Orion">Adani Green Energy</keyword> Ltd (AGEL), the worlds largest solar power developer and the renewable energy arm of the diversified <keyword id="76451" type="General" weightage="20" keywordseo="adani" source="Orion">Adani</keyword> Group, has signed an agreement with the Solar Energy Corporation of India (SECI) to supply 4,667 MW of green power. This is the worlds largest ever <keyword id="12733047" type="General" weightage="20" keywordseo="green-power-purchase-agreement-" source="Orion">green power purchase agreement.</keyword> "We are pleased to have signed the world's largest PPA with SECI," said Gautam Adani, Chairman of the Adani Group. "This is yet another step in our journey to enable India's dual objective to accelerate India's renewable energy footprint as well as promote domestic manufacturing under the Atmanirbhar Bharat programme. Following the proceedings at COP26, it is increasingly evident that the world has to equitably transition to a low carbon economy faster than previously anticipated. This is why the Adani Group has committed $50-$70 billion of investment in the renewables space. This agreement keeps us well on track to our commitment to become the world's largest renewables player by 2030," he added. The AGEL-SECI agreement to supply 4,667 MW is part of a manufacturing-linked solar tender of 8,000 MW awarded to AGEL by SECI in June 2020, which set a record for being the world's largest solar development tender ever awarded. So far, AGEL has signed PPAs with SECI for a total generation capacity of close to 6000 MW of the 8,000 MW awarded in 2020. AGEL expects to close the balance 2000 MW PPA in the next two to three months. SEE ALSO <a href="https://www.businessinsider.in/retail/news/aditya-birla-fashion-will-now-sell-reebok-products-in-india-and-10-other-asian-countries/articleshow/88272443.cms" data-type="tilCustomLink">Aditya Birla Fashion will now sell Reebok products in India and 10 other Asian countries</a> <a href="https://www.businessinsider.in/business/startups/news/after-acquiring-scoopwhoop-good-glamm-group-buys-missmalini/articleshow/88268772.cms" data-type="tilCustomLink">After acquiring ScoopWhoop, Good Glamm Group buys MissMalini</a> <a href="https://www.businessinsider.in/stock-market/news/medplus-health-services-is-a-good-play-on-growing-e-commerce-pharmacy-space-say-analysts/articleshow/88265079.cms" data-type="tilCustomLink">MedPlus Health Services is a good play on growing e-commerce pharmacy space, say analysts; GMP at ₹300</a>

Adani signs world's largest green power purchase agreement with Solar Energy Corporation of India

India's top gas company <keyword id="6358765" type="General" weightage="20" keywordseo="GAIL" source="Orion">GAIL</keyword> will foray into hydrogen generation and take the acquisition route to scale up its <keyword id="34553" type="General" weightage="20" keywordseo="renewable-energy" source="Orion">renewable energy</keyword> portfolio as it pivots business beyond natural gas to align with energy transition being witnessed across the globe. As part of a push to embrace cleaner forms of energy, GAIL will be laying pipeline infrastructure to connect consumption centres to gas sources while also augmenting its renewable energy portfolio, GAIL Chairman and Managing Director <keyword id="6516738" type="General" weightage="20" keywordseo="Manoj-Jain" source="Orion">Manoj Jain</keyword> said. "The global energy sector is witnessing a paradigm shift in recent years as the world is transitioning to a sustainable energy future," he said in the company's latest annual report. To accomplish a cleaner primary energy mix for India, the government is emphasizing the expansion of the natural gas sector so as to achieve a gas-based economy along with growth in renewables. GAIL as a leading integrated energy major has aligned with this vision, he said. The firm is laying around 6,000-kilometres of pipeline, including a west coast to east coast pipeline from Mumbai to Jharsuduga in Odisha via Nagpur, he said. It currently has around 13,700-km of natural gas pipeline network. GAIL "will be selectively investing in the renewable energy domain given the future growth potential," he said. The company "has been scouting for opportunities to scale up the RE portfolio from the current 130 MW through bidding and other inorganic routes such as mergers and acquisitions." "In addition, the company is also foraying into ethanol and hydrogen generation," he said without giving details. Hydrogen is a clean fuel that, when consumed in a fuel cell, produces only water. Many countries are venturing into hydrogen production from a variety of domestic resources, such as natural gas, nuclear power, biomass, and renewable power like solar and wind. In India, companies ranging from Reliance Industries to <keyword id="6356834" type="General" weightage="20" keywordseo="Indian-Oil-Corporation" source="Orion">Indian Oil Corporation</keyword> and <keyword id="45179" type="General" weightage="20" keywordseo="NTPC" source="Orion">NTPC</keyword> have announced ambitious plans for generating hydrogen. GAIL too joins that list now. GAIL, Jain said, has the largest and most diverse LNG portfolio in India that can offer both stable prices and reliable supply to consumers. The company "shall be pushing for higher gas usage in the industrial segment, transport segment using CNG and LNG, Trigeneration, cold storage, etc," he said, adding the firm was looking for avenues to supply gas in the new segments like LNG trucking (LNG for long-haul transportation). He said GAIL is also looking to expand its presence in petrochemicals and also diversifying into high-margin downstream businesses. "The focus is on having polypropylene (PP) production capacity through setting up two polypropylene units (Propane Dehydrogenation Polypropylene Plant - PDHPP in Usar, Maharashtra and PP plant at Pata, Uttar Pradesh) and assessing opportunities in certain speciality chemicals in India," he said. GAIL presently has a 1.6 million tonnes per annum polyethylene and PP production capacity. It is also setting up at least two compressed biogas plants and an ethanol factory. India, which imports 85 per cent of its crude oil needs, is stepping up efforts to explore new forms of energy to clean up the skies and reduce dependence on imported fuels. "We have 120 MW of renewable energy capacity which we want to scale up to 1GW in next 3-4 years," Jain had told PTI last month. GAIL will bid for a 400 MW solar power capacity being auctioned by SECI (formerly <keyword id="1937268" type="General" weightage="20" keywordseo="Solar-Energy-Corporation-of-India" source="Orion">Solar Energy Corporation of India</keyword>) in Rewa, Madhya Pradesh. The company had in 2019 won a bid for 874 MW operational wind power projects of IL&amp;FS for Rs 4,800 crore. But IL&amp;FS' other partners used the first right of refusal to block GAIL's bid, he had said. GAIL has signed up with state-run power gear maker BHEL for its renewable energy foray. The tie-up looks to leverage the competitive strengths of both companies. GAIL will be the project developer and BHEL will be a project manager and EPC (engineering, procurement and construction) contractor. The move by GAIL, which commands a 75 per cent market share in gas transmission and more than 50 per cent share in gas trading in India, is seen as part of the government's vision to prepare for the energy transition process, under which the share of gas in the energy mix is sought to be raised to 15 per cent by 2030, from the current 6.2 per cent. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/timeless-investing-lessons-from-legends-warren-buffett-peter-lynch-and-john-bogle/articleshow/85503124.cms">Timeless investing lessons from legends Warren Buffett, Peter Lynch and John Bogle</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/cardano-is-hitting-new-high-as-investors-are-confident-about-its-upcoming-smart-contract-system-alonzo/articleshow/85486235.cms">Cardano overtakes Binance Coin to become the third largest cryptocurrency — here’s what’s driving the rally</a>

GAIL scouts for acquisition to augment renewable portfolio, to foray into hydrogen

New Delhi, Jan 17 () Adani Green Energy and Azure Power have emerged as successful bidders in Solar Energy Corporation of India's first manufacturing-linked solar tender, a top government official said on Friday.
 Adani has bid for 1.5 GW solar cell manufacturing capacity and 6 GW generation capacity, MNRE Secretary Anand Kumar said on the sidelines of India Energy Forum-Renewable Energy Summit here.
 He also said that Azure Power bid for 500 MW solar cell manufacturing capacity and 2 GW generation capacity.
 With the green shoe option, the capacity for Adani would increase to 2 GW of solar cell manufacturing capacity and 8 GW generation capacity, Kumar said.
 For Azure, with green shoe option, it will be 1,000 solar cell manufacturing and 4 GW generation capacity, he added.
 "The bids have been finalised and only paperwork remains," he said adding that the tariff has been fixed at Rs 2.92.
 After successful auction, an investment of around Rs 6,000 crore is expected for setting up 1 GW of solar manufacturing facilities, which would generate permanent direct employment of up to 10,000 people, a source said.
 At present, India imports 95 per cent of its solar module requirement from China, leading to a forex outflow of around USD 10 billion per year. ABI SID ANS
ANS

Adani, Azure top bidders for manufacturing-linked solar tender

<keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>'s biggest floating <keyword id="59444" type="ORGANIZATION" weightage="20" keywordseo="Solar-power-plant">solar power plant</keyword> with a capacity of 100 megawatt is expected to become operational in <keyword id="68884" type="LOCATION" weightage="20" keywordseo="Telangana">Telangana</keyword> next month. The project has been set up by the energy conglomerate National Thermal Power Corporation (NTPC) in the reservoir of its thermal power plant at Ramagundam, Peddapalli district. The solar photo-voltaic project, spread over 450 acres, will have 4.5 lakh photovoltaic panels and it can be expanded in the future According to C.V. Anand, Executive Director, <keyword id="10904332" type="COMPANY" weightage="20" keywordseo="ntpc-southern-region">NTPC Southern Region</keyword>, this will be the largest floating solar plant in the country in a single location as of now. The project has been set up at a cost of ₹423 crore. The Maharatna company plans to set up solar projects across all thermal power plants in the country. The NTPC plans solar power plants of the total capacity of 450 MW in the southern region. Of this, 217 MW plants would be floating on water bodies. The corporation is also setting up 92 MW floating unit at Kayamkulam gas plant in Kerala and a 25 MW unit at Simhadri power plant in Visakhapatnam. The NTPC embarked on setting up large floating solar plants after successfully completing pilot projects at Kayamkulam (100 KWH) in Kerala and Kawas (1 MW) in Gujarat. Officials say the solar powers project are in line with the country's commitment to attain the target of 175 GW of installed renewable energy capacity by 2022 including 100 GW of solar installed capacity. The upcoming floating solar plants in South India are likely to be commissioned in next few months. The Covid-19 pandemic has led to the delay in construction of the new projects. Under the floating plants, the photovoltaic panels are deployed on the surface of water bodies. They are considered as a viable alternative to land-based solar arrays. NTPC officials explain that setting up floating solar units on water bodies and huge reservoirs help them in cutting down on the costs. Floating solar units prove to be cost effective when compared to ground-mounted plant. As South India has a large number of major reservoirs, NTPC Southern Region plans to focus on floating solar plants. The company officials say they prefer solar floating plants due to their advantages. As five acres of land is required for setting up one MW solar photo-voltaic plant on <keyword id="6375548" type="UNKNOWN" weightage="20" keywordseo="Ground">ground</keyword> and given the challenges in land acquisitions, the authorities are going for floating method. There are other advantages of the floating plants. As water bodies exert a cooling effect, this improves the performance of solar photovoltaic panels by 5 to 10 per cent. This means a significant cost saving for the plant owners. The other benefits include reduced water evaporation, reduced grid interconnection costs, low algal blooming and improved water quality. Interestingly, the world's largest floating 600 MW solar energy project is also coming up in India. The project to be constructed at Omkareshwar dam on the Narmada river in Khandwa district, Madhya Pradesh, is likely to begin power generation by 2022-23. Electricity will be produced in about 2,000-hectare water area by installing solar panels in the dam. Solar panels will float on the surface of the water in the reservoir. The floating solar power project at Ramagundam is expected to give boost to share of renewable energy in overall power generation in Telangana. The total installed capacity of renewable energy, including solar, in Telangana stood at 3,944 MW in 2019-20. Telangana is among a handful of States and Union territories who are on track to meet their renewable energy targets for 2022. The solar power projects by NTPC in the southern region include 5 MW unit set up at Port Blair Solar in Andaman and Nicobar Islands in 2012, a 10 MW solar plant at Ramagundam in 2013 and the phase I- of the 250 MW (5X50 MW) Ultra Mega solar project commissioned at NP Kunta village of Anantapur district in Andhra Pradesh. The NTPC is also working on 230 MW ground mounted solar power plant in Ettayapuram near Tuticorin in <keyword id="20154" type="LOCATION" weightage="20" keywordseo="tamil-nadu">Tamil Nadu</keyword>. This is expected to be commissioned by next year. The solar power projects are part of NTPC's plans to reduce its carbon footprints and accelerate its green energy production to 30 per cent of its capacity. NTPC Southern region has total installed capacity of about 9,125 MW, out of the corporation's total capacity of 64,880 MW in the country. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/upi-crosses-5-lakh-crore-in-transaction-value-in-march/articleshow/81820799.cms">India’s digital payments soar – UPI crosses ₹5 lakh crore in transaction value in March</a> <a href="https://www.businessinsider.in/india/news/west-bengal-is-the-highest-contributor-to-small-savings-schemes/articleshow/81825902.cms">West Bengal is the highest contributor to small savings schemes – with elections underway, it could have been a trigger for the government to roll back interest rate cuts</a> <a href="https://www.businessinsider.in/business/startups/news/revolut-india-plan-starts-with-a-25-million-investment-and-possibly-a-fintech-acquisition/articleshow/81833983.cms">Revolut’s India plan starts with a $25 million investment and possibly, a fintech acquisition</a>

India's biggest floating solar power plant coming up in Telangana

The <keyword id="6355512" type="ORGANIZATION" weightage="20" keywordseo="Union-Cabinet">Union Cabinet</keyword> seems to be on a project-approval spree. From approving the revised budget of the East-West freight corridor plan to setting up six new IIMs in the country, the Union Cabinet on Wednesday approved a slew of projects. Here are some of the noteworthy proposals that were cleared: 

	1) Rs 81,459 crore revised estimate for East-West freight corridor 
 

	The Cabinet gave its approval for the revised cost estimate of Rs 81,459 crore for the Eastern and Western Dedicated Freight Corridor (DFC) Project, including land costs and financing plan. The corridor will pass through Punjab, Haryana, Uttar Pradesh, Bihar, Jharkhand, West Bengal, Maharashtra, Gujarat and Rajasthan. 
 

	The revised cost estimate comprises construction cost of Rs 73,392 crore of the Eastern and Western DFC. The land acquisition cost will be Rs 8,067 crore. This excludes the cost of the 534-km Sonnagar-Dankuni section proposed to be implemented through Public-Private Partnership (PPP) route. 
 

	2) Six new IIMs
 

	There is good news for aspiring management candidates in the country. The Cabinet gave its approval for setting up of six new Indian Institutes of Management (IIMs) in the country. 
 

	These new IIMs will be located at Vishakhapatnam (Andhra Pradesh), Bodh Gaya (Bihar), Sirmaur (Himachal Pradesh), Nagpur (Maharashtra), Sambalpur (Odisha) and Amritsar (Punjab). These IIMs, which will begin functioning from temporary campuses, will commence their first academic session from 2015-16. 
 

	Each institute will start with an intake of 140 students in the Post Graduate Programme (PGP) courses. The annual intake may go up to 560 students each year by the end of seven years. 
 

	3) Solar boost 
 The Cabinet has allowed <keyword id="6357019" type="UNKNOWN" weightage="20" keywordseo="solar-energy">Solar Energy</keyword> Corporation of India (SECI) to apply to the Registrar of Companies for (i) converting it into a Section 3 company under the Companies Act, 2013 and (ii) renaming it as the <keyword id="2916969" type="UNKNOWN" weightage="20" keywordseo="Renewable-Energy-Corporation">Renewable Energy Corporation</keyword> of India (RECI). 

	The two things will make SECI a self-sustaining and self-generating organisation, which can engage itself in owning solar power plants generating and selling power and in other segments of solar sector activities, including manufacturing of solar products and materials. The Centre has also decided to enlarge the scope of the activities of SECI to cover all renewable energy sources, with a view to provide a comprehensive and optimized solution for generation of renewable energy integrating various renewable energy sources. 
 

	4) Cooperation with Japan 
 

	The Cabinet will ink a Memorandum of Cooperation (MoC) between the Department of Industrial Policy &amp; Promotion (DIPP) and the Japan Patent Office (JPO), Ministry of Economy, Trade and Industry, Japan. 
 

	The purpose of MoC is to establish a framework for bilateral cooperation in the field of Industrial Property (IP), with emphasis on capacity building, human resource development and awareness generation. 
 

	5) Ore boost for Japan and South Korea 
 

	The Cabinet decided to renew Long Term Agreement with Japanese and South Korean Steel Mills for supply of high grade Indian iron ore, during the three-year period from April to March 2018. 
 

	The quantities covered under the agreement will be in the range of 3.8 million tonnes to 5.5 million tonnes per year, and will be supplied primarily from the mines of the National Mineral Development Corporation ( NMDC). The contract will be executed by the Metals and Minerals Trading Corporation of India Limited ( MMTC) under the Department of Commerce.

	 
	 
	(image credits: binfind.com)

Six new IIMs in the country: Union Cabinet gave nod to a slew of projects

New Delhi, Mar 12 () Renewable energy projects have attracted investments of about Rs 1.34 lakh crore between April 2017 and January 2020, Parliament was informed on Thursday. "Based on standard capital cost per MW, an investment of around Rs 1.34 lakh crore is estimated to have been made in the renewable energy sector during last three years i.e. 2017-18 to 2019-20 (up to January 2020)," Renewable Energy Minister R K Singh said in a written reply to the Lok Sabha. He said most of the grid connected renewable energy projects are being implemented by private sector developers selected through transparent competitive bidding process.India has set an ambitious target of having 175GW of clean energy by 2022 which includes 100GW of solar and 60GW of wind energy. To a query on lack of investment in wind energy, he said,"During 2019-20 (up to 29.2.2020), capacity of 2043 MW was added in the country as against 1480 MW during the previous financial year 2018-19." Further, he said in order to attract investors and developers, the government has instructed Solar Energy Corporation of India and NTPC not to prescribe upper cap (of tariff) in future bids for wind and solar power projects. He informed the House that the installed capacity of wind power during 2017-18, 2018-19 and 2019-20 (as on February 29, 2020) was 1865 MW, 1480 MW and 2043 MW, respectively. The government has set a target of installing 60,000 MW of wind power capacity, to be commissioned by December 2022. Of this 60,000 MW, 37,669 MW capacity has already been commissioned (as on February 29, 2020), with 9236 MW of projects under implementation and 1200 MW under bidding, the minister said. In another reply, he said a total of 8004.64 MW of renewable energy capacity has been installed in April-January period of this fiscal as compared to 5978.47 MW installed in the year-ago same months. As on February 29, 2020, a grid connected capacity of 35065.34 MW of solar power has been installed, he said. KKS KKS ANUANU

Clean energy gets Rs 1.34 lakh cr investment in last 3 years

Mumbai, Dec 16 () Bank of America on Monday said it has extended a loan of Rs 356.5 crore to domestic solar player Fourth Partner Energy.
 This is the first transaction done by the lender in the country, wherein it has extended a local currency credit facility, an official statement said.
 Fourth Partner will deploy the proceeds to grow its solar operational portfolio over the next 18 months, the statement said.
 This transaction is part of the lender's 'Environmental Business Initiative' which deploys capital to low-carbon, sustainable business activities and has extended over USD 145 billion since 2007 through lending, investing, capital raising and developing financial solutions around the world.
 "India plays a vital role in curbing global emissions and Fourth Partner Energy is driving that change. Through innovative financing products like this one, we can help scale projects that are reducing greenhouse gas emissions as well as support India's role in solar energy development," the lender's vice chairman Anne Finucane said.
 Fourth Partner has executed distributed solar projects with a cumulative capacity of 200 MW across 23 states in India for over 150 corporate and government clients, the statement said.
 In 2018, The Rise Fund, the global impact investing arm of TPG, had invested in Fourth Partner. AA RVK

Bank of America extends over Rs 350 cr loan to Fourth Partner Energy

New Delhi, Mar 17 () The country's rooftop solar energy capacity stands at 1,922 mega watt (MW) and so far over Rs 1,874 crore has been released as central financial assistance towards installation of capacities in the sector, Parliament was informed on Tuesday. Till March 13, 2020, rooftop solar power plants of an aggregate capacity of 1,922 MW have been installed in the country, of which 346 MW have been installed in the residential sector, Minister of New and Renewable Energy R K Singh said in the Rajya Sabha, citing ministry data. He further said "so far as on 12.03.2020, an amount of approximately Rs 1874.39 crore has been released to various implementing agencies, i.e; state nodal agencies, Solar Energy Corporation of India (SECI) Limited, power distributing companies (DISCOMs), PSUs (public sector undertakings), government departments etc. under the rooftop solar programme as central financial assistance (CFA)/incentives inclusive of CFA towards residential sector." To increase installation of residential solar rooftop systems, he said government is taking various measures, including incentives for the DISCOMs for achievement of additional capacity, assisting states in development of online portal and aggregation of demand related to rooftop solar projects. The government is also providing CFA of 20 per cent of benchmark cost or tender cost, whichever is lower, for group housing societies/resident welfare associations for supply of power for common facilities under the phase II of Grid Connected Rooftop (GCRT) solar programme, he said, adding there is a toll free number -- 18001803333 -- for creating awareness among public about the programme. ABI ABI ABMABM

Installed rooftop solar capacity in India at 1,922 MW: MNRE Minister

India as a civilisation has revered nature for its life-giving properties and has been powered by renewable sources since ancient times. Modern India generates almost a third of its power using renewables sources – water, wind and a small part from the sun (&lt;1%) while the rest comes largely from fossil fuels (coal, oil, gas). These fuels have been the mainstays of power generation for the past few decades and would have continued to do so but for their escalating prices. Also, an ongoing lack of consistent fuel supply to meet even the current demand, along with the clamour against global warming, has put the energy industry under increased pressure and the focus is now on renewable sources of power like the sun, water, geothermal, biomass and wind. 
 
Large hydro projects, comprising almost a third of the current power generation sources, have hit numerous roadblocks due to people displacement, global warming, habitat destruction and land submergence. Biomass initially started off well but due to unplanned supply chain issues, has resulted in almost 75% of the 2 GW installed capacity coming to a standstill. Tidal and geothermal are almost non-existent in India while wind has played a significant role in increasing the acceptability of renewables, but hasn’t really contributed to a scalable solution. Biomass has been an abject failure due to fuel price rise, with 75% of the installed 2 GW capacity currently without adequate biomass supply. Wind turbines generate unscheduled power for just a few months, making them unsuitable for mainstream power generation, especially in the Indian context, and were only successful due to huge corporate tax benefits. 
 That just leaves us with the sun which delivers more than enough <keyword id="6357019" type="UNKNOWN" weightage="40" keywordseo="solar-energy">solar energy</keyword> every hour to our planet to power the entire world’s energy needs for a year. However, the major drawback is its periodic nature and capturing this energy for round-the-clock delivery at cost-effective pricing is the next paradigm of energy that is now receiving attention and interest. 
 Clean and <keyword id="60895" type="UNKNOWN" weightage="40" keywordseo="Green-energy">green energy</keyword> is a basic theory of modern life although the governmental focus is more on grid power, which is a polluting, inefficient and unreliable source of power. AT&amp;C losses account for close to 40% of the total power generation, amounting to a total of Rs 75 thousand crore and more every year that could wipe out energy poverty across the country. Smart grids and infrastructure updates are the need of the hour. But the government is still focused on spending Rs 2 lakh crore to bail out bankrupt Discoms whereas that amount could have been used to deliver distributed energy and reduce dependence on Discoms for a large part of the country. 
 The <keyword id="44734" type="ORGANIZATION" weightage="40" keywordseo="Indian-Government">Indian government</keyword> recognised this potential and the MNRE (Ministry of New and <keyword id="34553" type="ORGANIZATION" weightage="60" keywordseo="renewable-energy">Renewable Energy</keyword>) launched an ambitious programme in 2010 called JNNSM (Jawaharlal Nehru National Solar Mission) to deploy 22,000 MW of grid-connected <keyword id="70990" type="UNKNOWN" weightage="40" keywordseo="Solar-power">solar power</keyword> by 2020. The programme has seen limited success with phase I meeting its PV targets and phase 2 on the way in the form of 750 MW via the Viability Gap <keyword id="6357455" type="EVENT" weightage="40" keywordseo="Funding">Funding</keyword> (VGF) programme. 
 
In the initial programme, CSP (Concentrated Solar Power), aka GemaSolar, but without storage, was touted as a replacement to thermal plants and received majority of the allocation but failed to take off significantly, with deadline extensions and penalty waivers being the norm. There are talks to revive this programme and its success will decide whether solar power can be considered as a base load alternative. 
 
Thermal-concentrated sources of energy are optimal for urban and semi-urban areas. However, towns need to reduce dependence on the grid and adopt the German model, which enables local, as well as distributed power, using net-metering. 
 
The MNRE programmes have barely managed to dent the potential of distributed RE, requiring focused attention and financial muscle to enable the nation on its path towards renewable energy. But MNRE has not paid out a large part of the residential subsidies of 30% of capital costs over the past year due to lack of funds, a serious damper, especially for solar on rooftops. The current VGF programme is scheduled to cost the MNRE Rs 2,500 crore and push solar procurement costs down to below Rs 5.5 per KWh, enabling it to compete with conventional energy. 
 
The essence of solar success lies in empowering the distributed 400 million poor who are currently consuming fossil fuel not touched by the power grid and thus reduce India’s CAD (current account deficit), environmental pollution and health concerns. But there lies the irony. The rural/tribal populace pays nearly twice or thrice the rate of power than those living in cities, but has received minimal attention although the impact is the highest to those using fossil fuel and government subsidies in daily life. 
 
Every unit of power generated has the ability to multiply economic growth, especially in rural areas that suffer from energy paucity due to unreliable connections or load shedding. State governments of Tamil Nadu, Kerala and a few other states have already initiated proactive steps by increasing the state subsidies, in addition to subsidies from the central government, and are also looking at replacing grid-connected agricultural equipment with solar-enabled ones. 
 
Solar has the potential to reduce the current energy peak deficit significantly and improve delivery due to its distributed nature, provided it can get the appropriate financial support from the Centre, as well as all the states. The central government continues to think that grid power, with its huge losses, is the solution. But in reality, distributed energy, delivered to every home and the excess pumped into the grid, would result into least amount of losses while reducing energy generation needs. 
 
Over the next few years, solar power will come into its own, both from financial viability and availability perspectives, with exponential growth in distributed solar, coupled with storage, transforming the entire energy spectrum in India. The future of Indian energy segment is here and it is the Sun that will continue to power our economic and energy growth into the next millennium. 
 
About the author: Ritesh Pothan manages two India-focused renewable energy groups on LinkedIn. He is also a founding member of <keyword id="2036013" type="UNKNOWN" weightage="40" keywordseo="Natural-Group">Natural Group</keyword>, a solar and renewable energy-focused advisory/consulting organisation, and helps drive significant value into renewable energy projects.

Solar Is The Future Of Renewable Energy In India

<ul><li><keyword id="44734" type="ORGANIZATION" weightage="20" keywordseo="Indian-Government">Indian government</keyword> had set a target to achieve 100 GW solar energy by 2022. However, a Crisil report said that India can achieve 70-80% of its aim. </li><li>India will need to create a platform for domestic manufacturing along with favourable policies. </li><li>India recently imposed 25% safeguard duty on imports from China and Malaysia, which also hurt Indian manufacturers. </li></ul>The Indian <keyword id="163297" type="PERSON" weightage="20" keywordseo="solar-industry">solar industry</keyword> has been shining bright over the years with the government pre-achieving its initial target of 20 GW solar energy by 2022. Now, even with a renewed target of 100 GW by 2022, it is looking increasingly unlikely the country will hit the number unless the government steps up efforts. According to a recent <a href="https://www.livemint.com/Industry/HEugjBRI2zsNDyVzB2E1kJ/India-may-not-reach-100GW-solar-power-target-by-2022-Crisil.html">Crisil report</a>, if India wants to head towards the 100 GW goal, it has to bring in policies in the <keyword id="7190005" type="UNKNOWN" weightage="20" keywordseo="interim-budget-2019">Interim Budget 2019</keyword> that will change the fate of the solar industry. Thus far, the industry has seen a favourable push by the Indian government such as the development of solar parks. But also faced setbacks with an added <a href="https://economictimes.indiatimes.com/industry/energy/power/sc-lifts-stay-on-safeguard-duty-on-solar-imports/articleshow/65759673.cms">safeguard duty</a> on solar panels imported from China and Malaysia, which is adding to the costs of the manufacturers. Platform for domestic manufacturing Specifically, India will need to reduce import duties or push the growth of manufacturing in India of solar equipment, to boost growth. “The decrease in import of solar equipment will only be possible if domestic manufacturers are given a platform, through subsidies and schemes that allow us to showcase our capabilities compete with the global best. Currently, most solar manufacturers in India have to channel their focus on competing with low quality imports at unsustainable prices, said Sunil Rathi, Director, Waaree Energies. China’s dominance in the manufacturing of solar modules has resulted in many Indian manufacturers depending on them for the implementation of solar projects in India. <a href="https://www.chinabusinessreview.com/how-china-is-forging-a-new-global-clean-energy-landscape/">In 2017, </a>Chinese solar manufacturers alone were responsible for 68% of global solar cell production and more than 70% of the world’s production of solar panels or modules. “The required financial support will help, as most solar cells are imported, adding to the manufacturers’ costs,” said Rathi. Reduced taxes Experts believe that the upcoming Interim Budget will be crucial, as it not only would help manufacturers to gauge the support that the Government plans give the sector, but also understand how it envisions the way forward for the industry. “We hope that the government continues to focus on reducing the corporate tax rate to help the country move towards a lower tax regime,” said Andrew Hines, Co-Founder, CleanMax Solar. Taxes and duties remaining stable is a big hope from Indian players. “A universal anti-dumping policy and a more stringent safeguard duty would curb an influx of low quality products, and also instil confidence within the sector,” said Rathi. Rathi added that the recent proposal regarding the Bureau of Indian Standards (BIS) Certification has been welcomed by the solar industry and will ensure quality raw materials are made available to manufacturers. It is likely to also attract more investment from players, both national and international. Rooftop solar capacity According to a report by <a href="https://bridgetoindia.com/wp-content/uploads/2019/01/BRIDGE-TO-INDIA-India-RE-Outlook-2019-1.pdf">Bridge to India</a>, the rooftop solar capacity addition in India is projected to be 2,368 GW in 2019, 49% higher than in 2018. To expand the rooftop industry to other customer segments, Hines believes that incentives could be more productively redirected to the residential and MSME segments. This could help develop those segments that are nonexistent today but have huge potential. “A transparent and consumer-friendly feed-in-tariff for residential consumers would be a great way to spur growth in this segment, but the policy should be well thought through to be effective,” said Hines. With India taking the lead along with France in the <a href="https://www.thebetterindia.com/160476/india-france-modi-solar-alliance-news/">International Solar Alliance</a>, an alliance of more than 121 countries, the government will have to make way for growth by bringing forward policies the industry wants for progress. See Also: <a href="https://www.businessinsider.in/if-indias-solar-energy-is-cheaper-than-coal-why-isnt-the-industry-thriving/articleshow/65605221.cms">If India’s solar energy is cheaper than coal, why isn’t the industry thriving?</a> <a href="https://www.businessinsider.in/indias-solar-installations-see-a-big-drop-after-years-of-strong-growth/articleshow/67121559.cms">India's solar installations see a big drop after years of strong growth</a> <a href="https://www.businessinsider.in/niti-aayog-india-renewable-energy/articleshow/52359002.cms">Niti Aayog to promote India as renewable energy hub, output to be hiked fourfold</a>

You Searched For "Solar Energy Corporation of India" and got 13 results

India may have a tough time meeting its solar energy capacity targets as developers steer clear of government auctions

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Six new IIMs in the country: Union Cabinet gave nod to a slew of projects

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Bank of America extends over Rs 350 cr loan to Fourth Partner Energy

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Solar Is The Future Of Renewable Energy In India

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