EQ Int'l August 2014 Edition

Page 1


EQ

August 2014

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EQ

August 2014



EDITORIAL Government of India Decided Not to Impose Anti Dumping Duty on Solar Cells/Modules Although there is no official release by the Government…Media Reports by NDTV Confirms that Finance Minister Arun Jaitley, Commerce Minister Nirmala Sitharaman and Power Minister Piyush Goel decided not to levy Anti Dumping Duty on Solar Cells/Modules imports from China, Malaysia, Taiwan and USA. On May 22, 2014….The Directorate General of Anti Dumping & Allied Duty under the Ministry of Commerce & Industry recommended imposing Anti Dumping Duty ranging between USD 0.11 to USD 0.81 per watt on which the Ministry of Finance had to take a decision within 3 months. Since there is no decision by the Ministry of Finance within the stipulated time, it can be very well be taken as a decision not to import anti-dumping duty. India-US Solar Issue: WTO Sets Up Dispute Panel The WTO has set up a dispute settlement panel to examine a complaint by the US against India’s domestic content requirements under the country’s solar power programme, Parliament was informed today. “Since the consultations could not result into satisfactory outcome, on the request of the US, the Dispute Settlement Body established the WTO dispute panel in May. Once the panel is composed, the panel proceedings shall be finalised by the WTO secretariat,” Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha.The Minister said the US has claimed that the DCR violates WTO agreements such as national treatment principle and agreement on trade related investment measures. On the issue, consultations were held with the US in March 2013 and March 2014 under the WTO’s dispute settlement mechanism but no satisfactory result came out. Shri Piyush Goyal Minister of State (I/C) of Power, Coal & New & Renewable Energy has assured the stakeholders of solar energy sector that the policies of the Government are going to stay so that investors can plan accordingly, the Minister said that Government is open to provide all support which is required to develop a robust ecosystem which is efficient & sustainable to provide a fillip to the renewable energy sector. Minister assured the manufacturers that whatever capacities are available in the domestic cell and modules in the country, adequate market would be made available so that they can not only run their factories to full capacity but they can also expand manufacturing capacity. He said that they should become competitive so that they can also export for which Government would provide the necessary support. He said Government realizes that the domestic manufacturers need support in order to sustain. NTPC is therefore coming up with a tender for setting up of 1000 MW of solar power projects in EPC mode by using cells and modules made in India. Modi’s ‘Smart Cities Strategy’ Has Potential To Transform India’s Economy And Competitive Landscape, IHS Report Says Over the next 15 years, India’s population is projected to increase by 200 million people, placing tremendous pressure on the country’s urban infrastructure to cope with this rapid growth. In response, the Modi government announced a programme in July to build 100 smart cities, which has the potential to transform India’s global competitiveness within 10 years and boost the country’s long-term potential economic growth rate, says the latest analysis from IHS (NYSE: IHS), a global provider of critical information and insight. In his Asia Letter titled Can Modi’s ‘Smart Cities Strategy’ Drive India’s Economic Rebound? IHS Asia-Pacific Chief Economist Rajiv Biswas noted that the total investment associated with the development of 100 smart cities in India could be far in excess of US$1 trillion with a significant share of this investment likely to be from foreign government and private sector inflows. “This is the first comprehensive effort by an India government to upgrade India’s urban infrastructure across the country,” Biswas says. “The development of India smart cities with modern, highly efficient infrastructure for electricity, transport and IT, will create a new competitive landscape for the subcontinent that will be much more attractive for foreign direct investments by global multinationals. For example, he notes, one smart city planned during that time that is already under construction is Gujarat International Finance Tec-City (GIFT) which is designed to be an international financial services and technology hub. The estimated total investment for the Delhi Mumbai Industrial Corridor (DIMC) project (US$90 billion) and the GIFT smart city (US$10 billion) together amount to US$100 billion, so the total investment associated with the development of 100 smart cities in India could be far in excess of US$1 trillion.

Anand Gupta Editor & CEO


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Editor & CEO:

INTERVIEW

Owner :

SOLAR ENERGY

CONTENTS

VOLUME 4 Issue # 7

Samujjal Ganguly 6

ANAND GUPTA anand.gupta@EQmag.net

Vikram Solar lights up Assam Tea estate with Solar Energy

William Wang 8

CEO ZNSHINE SOLAR

PUBLISHER:

ANAND GUPTA

TRENDS & ANALYSIS

SAUMYA BANSAL GUPTA saumya.gupta@EQmag.net ARPITA GUPTA arpita.gupta@EQmag.net

PUBLISHING COMPANY DIRECTORS:

SOLAR ENERGY

PRINTER:

SOLAR ENERGY

ANAND GUPTA

ANIL GUPTA

ANITA GUPTA

Consulting Editor:

T. SRIRAMAN

SURENDRA BAJPAI

Editorial Contributions:

22 Penny Wise and Pound Foolish

Samujjal Ganguly , William Wang, Santosh K. M, Conrad Burke, A.K.Maggu, Tanmay Bishnoi, T. SRIRAMAN , Srujan Yeleti, Krishnan Rajagopalan, Varun Goel, Dheeraja M, Lucile Valette1, Erwann Picard1, Bachir Semmache1, Alexandru Focsa1, Oleksiy Nichiporuk2, Saumya Bansal Gupta

Sales & Marketing:

GOURAV GARG gourav.garg@EQmag.net

Subscriptions:

PIYUSH MISHRA piyush.mishra@EQmag.net

Layout and Design: MD SUHAIL KHAN

Printing Press:

PRINT PACK PVT. LTD. 60/61, Babu Lalbhchnad Chajlani Marg, Distt-Indore, (Madhya Pradesh) Disclaimer,Limitations of Liability While every efforts has been made to ensure the high quality and accuracy of EQ international and all our authors research articles with the greatest of care and attention ,we make no warranty concerning its content,and the magazine is provided on an>> as is <<basis.EQ international contains advertising and third –party contents.EQ International is not liable for any third- party content or error,omission or inaccuracy in any advertising material ,nor is it responsible for the availability of external web sites or their contents The data and information presented in this magazine is provided for informational purpose only.neither EQ INTERNATINAL ,Its affiliates,Information providers nor content providers shall have any liability for investment decisions based up on or the results obtained from the information provided. Nothing contained in this magazine should be construed as a recommendation to buy or sale any securities. The facts and opinions stated in this magazine do not constitute an offer on the part of EQ International for the sale or purchase of any securities, nor any such offer intended or implied Restriction on use The material in this magazine is protected by international copyright and trademark laws. You may not modify,copy,reproduce,republish,post,transmit,or distribute any part of the magazine in any way.you may only use material for your personall,Non-Commercial use, provided you keep intact all copyright and other proprietary notices.If you want to use material for any non-personel,non commercial purpose,you need written permission from EQ International.

EQ

August 2014

Cover Nuevosol, a leading turnkey mounting solutions provider, has been at the forefront of the solar revolution in the country. With 450 MW ofinstallations spread over 75 projects and 15 states, Nuevosol continues to live up to its reputation of being the backbone of the solar industry through its commitment to innovation, quality and operational excellence.

Varun Goel 28 Lightning & Earthing Protection System for Solar PV Installations


18 The Future of Solar Rooftop Designing: PVSOL and TSOL

QUARTER RESULTS

Tanmay Bishnoi

12 National Solar Mission Bundling Scheme Phase II Batch-II - 1500 MW

SOLAR PV MANUFACTURING

A.K.Maggu

10 A Case for free market in Indian solar sector

SOLAR PV MANUFACTURING

Santosh K. M

SOLAR ENERGY

SOLAR ENERGY

SOLAR ENERGY

CONTENTS

Dheeraja M 30 Photo Voltaic Ribbon – Small Yet Significant Gateway To An Efficient Module.

SOLAR ENERGY 26 Is Indian Solar Industry Should Start Focusing On KWhr/M2 More Than KWp/ M2

SOLAR PV MANUFACTURING 34 White Paper on Solar Manufacturing Sector in India 46 Development Of Metallization On N-Type Silicon Bifacial Solar Cells

POST SHOW REP. 50-56 RESEARCH & ANALYSIS 58 White Paper on Power Sector in Andhra Pradesh

Conrad Burke

Saumya Bansal Gupta

44 DuPont

SOLAR PV INVERTERS 65 Advanced Energy: Pending The Resolution Of The Tariff, The Company Expects Inverters To Continue To Be Pressured

COVER STORY 66 Three Years of Nuevosol; The Journey of Mounting Structures.

QUARTER RESULTS 70 Renesola: High Growth Potential In The Commercial And Retail Markets Across The International Target Markets 72 Canadian Solar Q2-2014: Expects Japan, Canada, China, Europe and the US, to remain healthy markets through the end of 2014

EQ International Page No. 70,72,74

74 Jinko Solar: “Continues to grow our presence in new emerging markets such as Chile and South Africa where we have become the market leader”

PRODUCT REPORT 76 Excelling the Norm – the cetis PV-Moduletest3 ... 77 pi4_robotics offers new electroluminescent ... 78 DuPont Microcircuit Materials Adds Two New... 78 BENNING TLS inverters – made in Germany ... 79 German technology for the international market: ....


SO L A R ENERGY

Vikram Solar Lights Up Assam Tea Estate With Solar Energy Samujjal Ganguly , Vice President - Project Vikram Solar Pvt Limited

I

ndia is one of the largest tea producers in the world second only to China. Today,the Indian tea industry has grown in stature to own many global tea brands and has transformed itself into one of the most technologically equipped tea industries in the world. Assam, the state also known as ‘Light Of The East‘,has got most of the tea gardens in it’s boundary area. Recently it has been found that several tea gardens in the state of Assam is suffering due to acute shortage of power. This longstanding problem is persisting for last several months,which as a result is hampering the production process & missing deadline. Recent surveys indicate that the off-peak load hour demand in the state is almost 1 GW, while the peak load hour demand is around 1.30 GW. The power availability during these two specific periods during the last few months or so was in the range of 750 MW-800MW and 900 MW-1000 MW respectively. Priority is given to use the available power mostly to urban areas, while the remote areas,where most of the tea gardens are generally located, get a small pie of the generated power. Adding to this is the erratic power supply and frequent power cuts.The cost of production is also going up because of the regular use of Diesel generator sets and the quality of tea has also deteriorated because of frequent disruptions in the manufacturing process.Tea gardens typically consumes about 25-30% of their power needs from Diesel Generator sets due to erratic power supply and the balance is met through grid drawal. The cost of producing solar power is cheaper than the above combination. Also in many states solar power has already reached grid parity with commercial and industrial tariffs.In this scenario, the tea estates of Assam have no other option but to look for alternative 6

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August 2014

sources of energy as the power situation in the state is dismal. So Vikram Solar, the Kolkata headquartered internationally acclaimed Tier 1 enterprise which specializes in manufacturing photovoltaic (PV) solar modules & EPC contracts for solar plants collaborated with McLeod Russel India Limited, one of the oldest & the largest Tea Plantation Company in the world for the execution of 100 kWp Off-Grid Solar Power Project at Attareekhat Tea Estate, Tangla, Assam. It was the first of its kind initiative wherein Vikram Solar extended its reach to a tea estate, thereby encouraging the use of solar energy for a cleaner environment. This initiative is considered as a pilot project which will help to assess feasibility of solar power in the tea estates,and if successful it will open the way for other plants to come up on the vast stretches of land in other states like West Bengal, Meghalaya, Himachal Pradesh and Kerala. Also this very idea can be extended to other sector like sugarcane industry of Maharastra, Uttar Pradesh, etc. Extensive research work & feasibility study was done by us before starting the project. As this was 1st of its kind and a pathbreaking initiative, so enthusiasm

along with challenge to complete the project within the stipulated time was there. Although Assam gets more than adequate rainfall throughout the year, the radiation in the rest of the year is sufficient enough to generate enough Solar Power. The state comes in the medium radiation level. More than 400 numbers of Solar PV modules of 250 Wp each were used in the project. There were many obstacles as the site was placed in a very remote location, with erratic availability of construction power facility. It took immaculate planning, superb team effort, great strategy implementation & execution to complete the whole project in just over a span of 4 months. Regarding the limit to solar power capacity in respect with the amount required for a tea factory, it can be said that there is no limit to solar power capacity as it is a source of renewable power in a factory’s low tension (LT) distribution system, which can replace the costly diesel generation power as well as bring down the grid power consumption depending on the load consumption pattern. Solar system with battery back-up can also store the solar energy for consumption during night.One of the aim behind the project was to minimize the usage of Diesel Generator sets.This solar system with battery back-up has received 30% subsidy from the Ministry of New and Renewable Energy (MNRE), Government Of India. Mr. Gyanesh Chaudhary, Managing Director & CEO, Vikram Solar stated, “By setting up this plant with McLeod Russel, Vikram Solar has expressed its confidence in bringing Solar Power to north-east India and eradicate the myth that north-east India is not suitable for Solar Power plants.”

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I NT ERV I EW

William Wang CEO ZNSHINE SOLAR EQ : Whats the current production capacity of your company WW : Currently, ZNSHINE SOLAR has a yearly production capacity of 1.1 GW.

special needs of projects in challenging environments, such as extremely humid or extremely hot environments.

point of view. We implement this concept, for instance, by means of stringent health and safety measures which safeguard our workers, as well as with an workerand environmentalconscious management of operations and environmental compliance of our products in terms of m aterials used and

EQ : What is the unique advantage in being a vertically integrated manufacturer WW : Vertical integration allows us independence from external suppliers, and containment of silicon prices which then translate into price advantages for our end customers. At the same time, being able to carry out production from ground zero enables us a stronger control on quality at all production steps. ZNSHINE SOLAR however also takes into account market conditions and chooses whether to avail itself of their integrated production or of suppliers, as the nature of the integrated plants theirselves allows it.

EQ : How much has been the sale to India and what does the future look like WW : ZNSHINE SOLAR is currently starting their activities in India, which is regarded as a most promising market, especially considering the main trend of interest toward high power output modules.

EQ : Please enlighten us on the thin film vs. c-si debate (explain with market share, performance etc…..in detail). Market share of thin film makers such as CDTE, CIGS, CIS, a-Si have been steadily increasing and their performance in hotter climates such as India is reportedly better than c-Si… please comment and clarify on this. WW : ZNSHINE SOLAR is constantly focusing on developing specific crystalline solar module solutions targeting the 8

EQ

August 2014

EQ : What changes have your experienced in selling PV in last 5 years WW : From our experience, the market has increasingly become price-driven, and we have witnessed a focus shift from the European market to other regions in Eastern Asia and South America.

EQ : Which are the top 10 markets for your co and approx shipment to these markets WW : For ZNSHINE SOLAR, macroregions such as Europe, Asia, South- and North America currently account for the top markets.

EQ : Do you forsee a further drop in the prices of PV and to what extent WW : We do not expect a further, relevant drop in PV prices in the near future. At present, we deem that a reasonable price level has been reached which allows PVprojects to be carried out and still retain a profit margin.

EQ : How much responsibility your co has for a fair trade

production processes. Our company is certified according to the international Healh and Safety standards of OHSAS 18001, as well as Environmental Management standards of ISO 14001 and Quality Management ISO 9001, just to mention some. Hereby we strive to deliver products which are at their roots fair and compliant with sustainability standards.

EQ : What is the annual expenditure on R&D and how much is it as a % of total sales WW : Our strong and well equipped R&D department is a crucial part of our company and our focus on developing enhanced products helps us to defend our top position in the market. Our expenditures on R&D comply with common market trends and are around 3 % of our annual sales.

EQ : Present and explain the recent trends in your sales, shipments, share prices etc… WW : Generally speaking, we expect a shift from traditional markets like Europe and North America to Asian and Latin America markets.

WW : ZNSHINE SOLAR is since their beginnings committed to sustainability, both from the environmental and the commercial

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SO L A R ENERGY

A Case For Free Market In Indian Solar Sector Santosh K. M – Managing Director of Enerparc Energy Pvt Ltd.

O

ne of the indisputable signs of the solar industry in India coming of age; becoming material is when the industry exhibit a strong urge to defend the market. When there is something perceived to be of value, the vehemence of defence is usually proportion to value. In this measure the Indian solar market does seem to have a huge value The Antidumping anthem over the last year in Indian solar market started off as a gentle whisper, a lullaby and in recent months has become a war-cry, reaching a crescendo over last few days. While it is a good sign to see that the solar industry sees the market in India material enough to safeguard for local manufacturers, the tug of war between those in industry in favour of protectionism and those in favour of a free market has also resulted in dividing the solar industry perhaps for the first time in India. The section of industry canvassing for antidumping duties base their arguments on growing a strong “made in India” cells and modules industry, employment generation and in some cases socialistic arguments which reminds one of pre liberalization era economics buzz words; viz. supply chain securitization, currency rate volatility impact reduction etc. No one can argue the fact that when solar energy projects in India started growing from 2010 largely backed by Government policies which have a strong subsidy support; the fruits of this subsidy backed has not been 10

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realized by Indian manufacturers. It also makes sound economics to retain a significant proportion of value creation within India and consequently contribute to a stable domestic supply chain on which the solar installations in India can further thrive and grow. The question is not one of whether local manufacturing be permitted to derive a protectionism backed exclusive market to permit growth but one of modus operandi and timing. On the later for more than 2 decades, solar manufacturers in India have imported wafers, converted into cells and modules and have exported a significant portion of their produce to Europe and North America. The Government in year 2008 brought out semiconductor policy (SIPS) which among other things, envisaged a capital subsidy for solar manufacturing sector. Had SIPS implementation happened in say 2009 -2010 at the right time when Indian solar market was starting to take off and also when imports from east were starting to inflow; the timing would have been just right to ensure the already thriving solar manufacturing

sector in India would have continued to grow seamlessly, hence a 5 year late wakeup call is missed opportunity. On Modus operandi, building a fort coupled with a deep moat called antidumping duty around Indian market will result in suffocating the growth of the market when it is starting to get real. The reduced capital cost of solar projects by close to 45% from year 2010 to year 2014 is achieved to a large extent due to lower cost of imported solar modules when compared to ones made in India. Also, volumes of products made in India is restricted. Thus antidumping duties will shock the Indian solar market with a double whammy, higher price and scarcity of volumes and stun growth. The better approach is one that is already created by the Government in NSM, the domestic content specific market (DCR). This walled garden approach where there is an exclusive protected market provided for made in India products while allowing free market to thrive in the market at large is a true middle path which is the ideal one to take and not to impose antidumping duties. Free market will ensure competitive pricing and volume delivery and will be the engine of growth and the domestic manufacturing can also grow in the walled garden of DCR market till such time that domestic costs and volumes are similar to the imported ones when true market forces will further drive Indian solar industry into a bright and sunny future

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SO L A R ENERGY

National Solar Mission Bundling Scheme Phase II Batch-II - 1500 MW A.K.Maggu-General Manager, NVVN

NVVN role : JNNSM Phase – I (1000 MW) • NVVN as Nodal Agency entered into Power Purchase Agreements (PPA) with Solar Power Developers (SPD) for purchase of Solar Power and entered into Power Sale Agreements (PSA) with DISCOMS for Sale of Power Bundled with NTPC Coal Station Power allocated by Ministry of Power out of the unallocated quota. • Solar Capacity of about 1000 MW was tied up largely through the Competitive Bidding Route (Reverse Auction) using CERC Tariff as Benchmark through the following Two Schemes: • Migration Scheme - 84 MW • New Project Scheme § Batch I-150 MW (PV) + 470MW (Thermal) § Batch II – 350 MW

Migration Projects

Solar

PV

Batch I Projects 12

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August 2014

140 MW Solar PV Capacity Commissioned

50 MW Solar Thermal Capacity Commissioned

Batch II Projects • 21 Solar Power Developers for 27 Projects for Solar PV Capacity of 340 MW selected through Competitive Bidding (Reverse Auction)

Phase I Highlights • State wise Capacity Commissioned: 568 MW

State

Solar PV

Solar Thermal

Rajasthan Maharashtra

420 MW 41 MW

50 MW

Punjab Andhra Pradesh

02 MW 35 MW

Odisha

05 MW

Uttar Pradesh

05 MW

Tamil Nadu

05 MW

Karnataka

05 MW

Total

518 MW

• 330 MW Solar PV Capacity Commissioned

Overall Status of Phase – I Projects

50 MW

• The power purchased from SPDs is being bundled for supply to Discoms of 13 States in all 5 Electricity Regions: NR - Rajasthan, Punjab, Uttar Pradesh WR Maharashtra, Chhattisgarh SR – Karnataka, Tamil Nadu, Andhra Pradesh, Telangana ER - West Bengal Odisha, DVC NER – Assam.

Capacity Commissioned

• 16 Solar Power Developers selected for 84 MW Solar Projects: 48 MW Commissioned

Capacity

• Solar PV : 518 MW

Phase I Highlights

• Solar Thermal : 50 MW Capacity Likely to be Commissioned by Aug/Sep 2014 • Solar Thermal : 150 MW

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• Developers were selected through reverse bidding process. Average Tariff discovered through bidding process was: • All India Weighted Average Bundled Power Rate achieved is of the order of Rs. 4.50/kWh against envisaged Weighted Average Bundled Power Rate of Rs. 5.50 at the launch of Scheme.

mission implementation. Key learning from Phase-I are as under: •

Project Developers are more disciplined lot today

Discovered tariff through transparent bidding mechanism have substantially come down and are close to the grid parity

Common reasons for delay in project commissioning have been as below:

STATUS MIGRATION PV PROJECTS

(i) ROW issues for Transmission Line/ Project execution

remains a major issue. •

Authentic data on irradiation, realistic and properly vetted proposals, competency and track record of the EPC companies are areas where the Solar fraternity learnt quite a lot over the last one year. Measures like MNRE’s efforts to set up solar radiation measurement stations at various regions are helping developers get around with realistic modelling of solar power production.

Provision of requirement of domestic content for setting up solar power projects was kept in the guidelines for Phase-I with a view to develop indigenous capacities and generate employment.

Generation from PV projects so far has been in accordance with the estimates, and higher in many cases.

(ii) Project Funding Issues (iii) Poor Project Management by SPDs •

STATUS-­New Projects PV(Batch-I)

STATUS-­New Projects(Batch-­II)

Learnings from Phase-I •

14

The Indian solar industry saw the JNNSM coming out as a forward looking policy and it is in all stakeholders’ interest to make solar power a viable alternative energy in India to meet the tremendous capacity growth that will be experienced in the near future. There is general consensus that Success story of Phase-I should be continued and strengthened. The lessons learnt from Phase-I of the Mission should be imbibed for further fine tuning the

EQ

August 2014

Staggering of capacity for speedy financial closure and benefit of tariff reduction § Introduction of bid bond to contain speculations § Grid connected solar PV power is now fairly established in terms of availability of required expertise for designing, construction and site preparation etc. § Grid connected Solar Thermal Power is still to prove its operational prowess as the Phase I projects would be commissioned in due course of time. § In general, experienced companies are more interested in large size projects. Price reduction is possible if the tender size is big. 12 Learnings from Phase-I..

1500 MW PROPOSED BUNDLING SCHEME

PROPOSED BUNDLING SCHEME • NVVN as Nodal Agency shall carry out

Solar Projects have faced problems in sourcing finance, local clearances, man power issues, etc., contributing to project delays.

Selection Process through Competitive Bidding Mechanism

Sign Power Purchase Agreements with Solar Power Developers

Most of the projects so far have been coming up in few States, like, Rajasthan where high solar energy potential combined with cheap land and favourable State Government policies are in place. Other States need to follow and reap the benefits of solar power.

Sign Power Sale Agreements with Beneficiaries / Discoms / Utilities agreeing to buy bundled power on firm basis.

Learning during the first phase has surely given financial institutions a sense of commitment and are certainly willing to invest in solar power projects and this has seen them playing a key role in shaping up the solar ecosystem in India. It is noteworthy that a number of international financial institutions like Exim Bank, Asian Development Bank and KFW have been very active funding solar energy in India.

Key Issues/Learning from Phase-I •

JNNSM Phase-II BatchII:

MNRE will frame Guidelines for Procurement of 1500 MW of Solar Capacity through Tariff based Bidding by NVVN.

Ministry of Power will make available 1500 MW out of the unallocated quota from NTPC Coal – Based Power Stations for the Scheme on firm basis for Bundling with Solar Power.

Beneficiaries / Discoms / Utilities shall be eligible for using the Solar Component of the Bundled Power purchased from NVVN to meet their Renewable Purchase Obligation.

The Arrangements would be similar to JNNSM Phase – I. 16

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CONTRACT STRUCTURE – PPA & PSA

250 MW to 50 MW for the generating stations using Renewable sources of energy.

BIDDERS : F INANCI AL REQUIREMENTS OF BIDDERS : Proposed Net Worth :

• Encourage States to set up Solar Parks and Connect to CTU System

• Rs. 2 Crores / MW • Requirement of Infusion of Net Worth prior to signing of PPA, in case of Companies getting qualified on the strength of Ultimate Parent / Parent / Affiliate.

GUIDELINES FOR SELECTION OF NEW GR ID CONNECTED SOL AR PROJECTS PHASE – II , BATCH – II 1500 MW PROPOSED BUNDLING SCHEME

GUIDELINES – MAIN PROVISIONS

TECHNICAL REQUIREMENTS OF BIDDERS :

Solar PV Projects – Batch – I : Projects based on Crystalline Silicon Technology to use the Modules manufactured in India

Proposed Criteria:

Solar PV Projects – Batch – II : Projects based on Crystalline Silicon Technology to use Cells and Modules manufactured in India

JNNSM Phase – II, VGF Scheme, out of the Total Capacity of 750 MW, 50% Capacity has been reserved for allocation with DCR.

QUALIFICATION REQUIREMENTS OF BIDDERS :

GUIDELINES – MAIN PROVISIONS

FINANCING

Proposed Capacity of each Project :

• Minimum : 10 MW

• Maximum : 50 MW

• Capacity in Steps of 10 MW (10, 20, 30, 40, 50 MW)

Commercially Est ablished and Operational Technologies to be adopted so as to minimize Technology Risk and to achieve commissioning of Projects.

Technical Requirements to be met as per Guidelines for use of Equipment in Grid Solar Power Plants :

• PV Modules • Power Conditioners/ Inverters • Other Sub-systems/ Components • Performance Monitoring • Safe Disposal of Solar PV Modules

• AVAILABILITY OF LAND TRANSMISSION CONNECTIVITY

GUIDELINES – MAIN PROVISIONS

Rationale : Same as Phase – II Batch – I: 750 MW VGF Scheme

EQUIREMENTS FOR CONNECTIVITY WITH THE GRID:

GUIDELINES – MAIN PROVISIONS

• The JNNSM Mission Document provides that the Connectivity should be at 33 kV and above under Phase – I.

MAX CAPACITY & NO. PROJECTS BY A COMPANY / GROUP: Proposed Capacity by Company / Group: •

Maximum : 100 MW

Number of Projects by a Company / Group: Maximum : Five (5) Rationale : Same as Phase – II Batch – I: 750 MW VGF Scheme

GUIDELINES MAIN PROVISIONS QUALIFICATION REQUIREMENTS OF 16

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August 2014

• To ensure the development of domestic manufacturing, provision of Domestic content requirement (DCR) is introduced under the mission as below: JNNSM Phase – I had specified a DCR as under:

MAIN PROVISIONS

Provisions in earlier Guidelines:

SIZE / CAPACITY OF PROJECT:

GUIDELINES – MAIN PROVISIONS DOMESTIC CONTENT REQUIREMENT:

Requirement of Domestic Content Requirement (DCR) under Bundling Scheme proposed for Capacity of 500 MW. GUIDELINES – MAIN PROVISIONS COMMISSIONING SCHEDULE: Scheduled Commissioning: • 13 Months from Date of Signing of PPA With Levy of Liquidated Damages • Additional 5 Months with Encashment of CPG on per day of delay basis

Proposed Connectivity Requirements:

• Additional 6 Months with LD @ Rs. 1 Lakh per MW / day.

• Transmission Connectivity of Projects should preferably be with the CTU System for better reliability in Power Evacuation.

TOTAL PERIOD ALLOWED : 24 MONTHS FROM DATE OF SIGNING OF PPA

• Transmission Charges & Losses in CTU System waived upto 30.06.2014. Extension upto 30.06.2017 is under consideration / process. Rationale : • Central Commission issued an amendment to the Connectivity Regulations in March, 2012, wherein, the threshold capacity for connecting to inter - State grid was reduced from

LD Provisions proposed to be relaxed considering better discipline of Developers

GUIDELINES – MAIN PROVISIONS EMD & BID BOND & PERFORMANCE BG: • EMD • BG for EMD – Rs. 20 Lakhs / MW (To be converted to PBG) • BID BOND

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• Additional BG for Bid Bond Linked to Discount (Same as Phase – I Batch – II) (To be converted to PBG) • PERFORMANCE BG • EMD + BID BOND + Additional BG for PBG - Rs. 30 Lakhs / MW

shall provide the information about the Promoters and their shareholding in the company to NVVN indicating the controlling shareholding before signing of the PPA with NVVN.

Rationale: Same as JNNSM Phase – I Batch - II

• No change in the shareholding in the Company developing the Project shall be permitted from the date of submitting the RfS till the execution of the PPA. However, this condition will not be applicable if a listed company is developing the Project.

GUIDELINES – MAIN PROVISIONS Number of Applications by a Company • The total capacity of Solar PV Projects to be allocated to a Company including its Parent, Affiliate or Ultimate Parent-or any Group Company shall be limited to 100 MW per tranche. The Company, including its Parent, Affiliate or Ultimate Parent-or any Group Company may submit application for a maximum of five projects at different locations subject to a maximum aggregate capacity of 100 MW per tranche. • The Company shall submit one single application in the prescribed format detailing all projects at same/multiple locations for which the developer is submitting the application.

GUIDELINES – MAIN PROVISIONS Selection of Projects based on Discount in Tariff • The Short-listed Projects/Project Developers who meet qualification criteria would submit Request for Proposal (RfP) bid indicating the discount in paisa/kWh on CERC Approved Applicable Tariff. • The Projects offering the maximum discount in paisa/kWh on the CERC Approved Applicable Tariff would be selected first and so on. •

In order to discourage adventurous bids, Bid Bond on graded scale would need to be furnished along with the RfP bid.

In the eventuality of a tie in the bidding process, the applicant would be selected by draw of lots.

• At the end of the selection process, a letter of intent will be issued by NVVN to the selected Solar Projects.

GUIDELINES – MAIN PROVISIONS Minimum Paid up Share Capital to be held by the Promoter • The Company developing the project

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that the minimum capacity for acceptance of first part commissioning shall be 50% of Project Capacity subject to blocks of 10 MW Units and in multiples of 10 MW thereafter. The PPA will remain in force for a period of 25 years from the date of acceptance of respective part commissioning of the project.

GUIDELINES – MAIN PROVISIONS

• After execution of PPA, the controlling shareholding (controlling shareholding shall mean more than 50% of the voting rights) in the Company developing the project shall be maintained for a period of (1) one year after commencement of supply of power. Thereafter, any change can be undertaken under intimation to NVVN.

Commercial Operation Date (CoD) • The projects commissioned during a month shall be entitled for payment of energy @Rs 3.00/kWh as infirm power till CoD. The CoD shall commence normally from 30 days from the actual date of commissioning or 1st of the subsequent month which ever is later. • The 25 year tenure of PPA shall commence from Commercial Operation Date.

GUIDELINES – MAIN PROVISIONS

GUIDELINES – MAIN PROVISIONS Payment Security Mechanism Requirement recognized – Details to be worked out taking into consideration grants from Government/ NCEF. Ministry of New and Renewable Energy will frame the Scheme / Rules for the Scheme.

Financial Closure • Project Developer to report Project Financing Arrangements within 210 days from the date of signing Power Purchase Agreement. •

At this stage, the Project Developer would also furnish the necessary documents to establish clear title and possession of the required land for project development in the name of the Project Developer (minimum 1.5 ha per MW) and the requisite technical criterion have been fulfilled. The Project Developer would also need to specify their plan for meeting the requirement for domestic content.

• In case of delay in achieving above condition as may be applicable, NVVN shall encash performance Bank Guarantees and shall remove the project from the list of the selected projects.

GUIDELINES – MAIN PROVISIONS Commissioning “Commissioning” the Project will be considered as commissioned if all equipment as per rated project capacity has been installed and energy has flown into grid.

GUIDELINES – MAIN PROVISIONS Payment of Excess Generation Any excess generation over and above the contracted energy declared will be purchased by NVVN at a tariff of Rs.3/kWh, provided NVVN is able to get any buyer for sale of such excess generation

Timelines and Implementation Plan: JNNSM Phase – II implementation period is from 2013 to 2017. Therefore the Implementation of the Bundling Scheme under JNNSM Phase – II would require Commissioning of the Project Capacity envisaged therein by 31st March, 2017. PROPOSED SCHEDULE :

Events

Batch-I

(75 0 Batch-II

(750

MW)

MW)

Issue of Guidelines by MNRE

August 2014

January 2015*

Start of Bidding Process

Aug. / Sept. 2014

February 2015

Issuance of LOI

January, 2014

June 2015

Signing of Power Purchase February, 2015

July 2015 August

Agreements Commissioning

2016

March 2016

of Projects

Part Commissioning: Part commissioning of the Project shall be accepted by NVVN subject to the condition

* Modification, if necessary

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August 2014

17


SO L A R ENERGY

The Future Of Solar Rooftop Designing: PVSOL And TSOL Tanmay Bishnoi, Consultant & Trainer ADS Projects & Systems Pvt. Ltd.

PVSOL: For Solar PV Power Plants

• Configure any roof shape with any number of coordinates • Divide the roof into a number of PV areas

Design & Analysis of a Rooftop Solar Power Plant just got quicker and accurate like never before.

• Visualize flat-roof systems with modules that are not parallel to the roof edge

PVSOL is a photovoltaic systems simulation program that is practical and user-friendly.

• Furthermore, there is afunction to automatically cover any roof shape with the maximum possible number of modules, taking account of barred areas and structures on the roof.

Based on your budget, you can purchase the licensed program from the following – •

PV*SOL®

PV*SOL® Premium

PVSOL is being currently used in more than 100 countries, which is developed by Valentin, headquartered in Germany. The company has been providing design, simulation and modeling softwares for more than 25 years. ADS Projects & Systems is the Official Distributor & Training Partner for PVSOL and TSOL in India, Japan & Africa. PVSOL is specifically used for the design and simulation of the following grid connected systems • •

Full feed-in SPV Plants (for captive usage/Utility Power Plants) Net metering systems (Import/Export Generation Analysis of Rooftop Solar Power Plants) Stand-alone systems: Design, Simulation and Analysis of SPV System with Battery bank.

In addition, PV*SOL® provides you with an impressive 3D tool for the visualization

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and detailed shade analysis of roof integrated and mounted grid connected systems. With the climate data generator “MeteoSyn” you have access to almost every climate data record you require from a selection of 8000 weather stations worldwide. You can generate your own locations based on monthly ­averages. In the component databases you will find over 10,000 modules from more than 250 manufacturers as well as 2,100 inverters from approx. 70 manufacturers. The automatic update function ensures that you are always up to date.

Does your customer also have a photo of the roof? With Photo Plan, the integrated photo dimensioning program, it is also be possible to project the selected modules realistically onto the building. In this way you can give your customers the opportunity to look into the future and see the PV system on their roof. Key Simulation Features: •

Planning and design of on-grid systems with full feed-in, net metering and battery storage

Define your electrical consumption based on load profiles or own readings

Generation of own climate data records based on monthly averages or interpolation

Configuration of modules with inverters

Transport your customers up to the rooftop

The graphical calculation of the number of modules on the roof makes it possible to: -

Automatic and manual PV module roof coverage, taking account of restricted areas

Visualization of the annual direct

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More than 600 MW PV projects already equipped with Bonfiglioli Inverters in India.

As one of the world’s leading players in clean energy today, Bonfiglioli has the innovative know-how and technical capacity to bring medium-large and utilityscale PV installations to life. Bonfiglioli designs and manufactures a wide range of hi-tech power conversion systems up to 3 MW turnkey solutions inside the Bonfiglioli Vectron center of excellence in Germany, ensuring an optimal return of investment. In-depth understanding of markets dynamics, 17 commercial subsidiaries, four photovoltaic production centers on three continents and a wide range of inverters, make Bonfiglioli a long-standing and riskless industry player for photovoltaic field developments anywhere in the world. The future is bright with Bonfiglioli!

Bonfiglioli Renewable Power Conversion India (P) Ltd No. 543, 14th Cross, 4th Phase, Peenya Industrial Area, Bangalore - 560 058 * \ʳ £ÊnäÊÓnÎÈÊ£ä£{ÊÉÊÓnÎÈÊ£ä£xÊUÊ >Ý\ʳ £ÊnäÊÓnÎÈÊ£ä£È ÜÜÜ°L w} ° ÊUÊLÀ«V JL w} °V www.bonfiglioli.com

Visit us at Hall 3, Stand 3.31

Courtesy Welspun Energy Limited, 30 MW Solar Plant, Gujarat

The right solution for Photovoltaic Power Systems.


irradiation reduction for each point of the PV area •

Arbitrary orientation of mounted systems.

East-west systems

New concept of inverter connection. Automatic and manual inverter configuration is possible

Via the button ‘Suggest configuration’ the best configuration based on the selected inverters can be loaded into the planning

Visualization of the potential PV system and the shading objects in a 3D representation

Several buildings, dormers and saw tooth roofs can be covered with modules

Joint configuration of multiple PV areas

Detailed shading analysis and simulation of the yield reduction due to shading. Yield simulation takes account of the precise shading ratio for each module

The installation situation (type of ventilation) can now be specified individually for each module formation

Precise Calculation Consumption

You can also simulate systems by the minute with any number of module arrays in different orientations.

You have the possibility of selecting multiple system inverters and combining them with other inverters – even if they are equipped with different MPP trackers.

The program also calculates the string cable losses as well as the AC and DC cable losses per inverter.

of

Self-

Detailed presentation of the economic results and financial analysis, including cash flow table

Full presentation of all energy gains and losses

Annual degradation

Cable Layout Diagram of the Plant

Single Line Diagram of the complete Solar Power Plant

A printout of results with a selection of graphics and tables

Export of all simulation results in hourly resolution to Excel.

TSOL: For Solar Thermal Systems To address the needs of different users, T*SOL® is the most the accurate and advanced software for Solar Thermal Applications.Thanks to an intuitive interface, a solar thermal system can be designed particularly easily with T*SOL®. With integrated design assistance for collectors, storage tanks and boilers, you can quickly choose from a selection of concrete design proposals. T*SOL® is the leading simulation program for the planning and design of solar thermal systems.

The standard module contains around 200 system configurations for: •

Domestic hot water supply,

Process heating and

Space heating

Swimming Pool Module for indoor/ outdoor residential and commercial pools

Large Scale Systems Module to support large scale commercial and industrial projects that include large solar buffer storage tanks, external heat exchangers and the use of antilegionnaires’ disease switching

Key Simulation Features: •

This dynamic simulation program, with its easy to use Design Assistant, has been developed for designers, engineers, planners, installers and heating or building technicians.

After entering just a few parameters for the project location and system consumption, select one of the system configurations and the collector and storage tank are sized.

The Design Assistant allows the user to select the optimum system configuration.

• Key Reporting Features and Simulation Result Analysis: After simulation you receive a summary of the results in a detailed, exportable project report, roof layout and financial analysis, which includes: •

Detailed presentation of the simulation results

Balance of costs by entering individual positions and different system life spans

Pre-Defined Tariffs and the possibility to create & save further new tariff plans

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An important factor in planning a solar thermal system is the economic efficiency calculation.

With T*SOL® you can carry out a detailed financial analysis, including yield calculation.

The annual savings and payments are accounted for in a table and shown graphically.

T*SOL’s financial analysis gives weight to the business case for a solar thermal system.

Additional Features: •

Photo Plan: With the integrated photo-dimensioning program Photo Plan, you can represent the collector array photo realistically on your customer’s roof. All you need is a photo of the roof. After simulation, the graphics can be included in the project report. Photo Plan is a useful sales tool, as it really brings the proposed solar thermal system to life, even at the design stage.

Component database: T*SOL® includes an extensive component database with detailed data on tanks, heat exchangers, boilers and over 2 500 flat-plate and evacuated tube collectors.

Climate data generator: MeteoSyn – included as an integrated module – can be used to produce global meteorological data for use with T*SOL®. Climate data for ­irradiation and air temperature in hourly intervals for a period of one year is provided with the program. Data is included for over 8 000 locations worldwide and you can also generate your own locations by entering monthly averages.

Parameter Variation: The user is able to run an automatic parameter variation and, through simulation, observe and determine the influence of the different parameters on target values such as the solar fraction, efficiency and the auxiliary power requirement. In this way it is possible to optimize the individual component parameters (e.g. the position of the storage tank sensors) for different solar thermal system operating modes.

Monitoring: Measurement data can be processed, evaluated and converted into T*SOL® format via data import. This makes it possible to simulate solar systems using actual system data and compare the simulation results with the actual system output.

The set version of T*SOL® includes a solar district heating module with nine typical systems. This makes it possible to design and simulate solar thermal district heating systems incorporating multiple collector arrays that support a variety of distributed loads, such as domestic hot water, space heating and industrial process heat. T*SOL® is the simulation program for advanced designers and experts wishing to investigate changes in the physical state of a solar thermal system. It serves research and scientific purposes as well as expert planners, developers and consultants in the monitoring and optimization of components and systems. T*SOL’s project tree is user-friendly, allowing components and system variants to be easily copied.

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SO L A R ENERGY

Penny Wise And Pound Foolish

The Importance of Professional O&M in sub-MW Solar installations T. SRIRAMAN - Founder & Managing Director, Soltech Equipments

A

doption of Solar power systems in India has seen a significant surge in the last five years thanks to the launch of Jawaharlal Nehru National Solar Mission (JNNSM) and numerous state policies thereafter. The installed capacity has gone up from less than10 MW in 2009 to 2.7 GW at the end of July 2014 and the industry is entering a phase of maturity. More than 1 GW of grid-connected ground-mounted solar PV plants have been operational during the last two years now, and the performance of these plants have given the industry enough experience to gain confidence in building and operating Solar PV plants within short time periods. While the Operation & Maintenance(O&M) of large scale gridconnected systems has been discussed quite frequently in the industry, we believe that the importance of professional O&M for small scale solar PV systems(ground-mounted or rooftop) has not received the attention it deserves. The O&M of smaller systems are equally, if not more, challenging than O&M for larger systems, albeit a difference in the contributing factors. In this article, we look at the various aspects of O&M for both ground-mounted and rooftop PV systems, and its significance on the Return on Investments fromthese small and medium scale solar installations.

Distribution of Solar installations Figure 1 State-wise Installed capacity of Solar in India in MW (Source: MNRE, July 2014) From the above image, it can be seen that Gujarat and Rajasthan together account 22Â

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August 2014

for 60% of the total installed capacity in the country. This is interesting from the O&M perspective, because most of these projects are located in harsh environmental conditions, mainly in arid and remote areas that are very challenging. Even in other states like Maharasthra or Tamil Nadu, the solar plants are located in dry and dusty areas because of the availability of cheap wastelands that are not agriculturally productive. While utility scale polar projects account for most of the installed solar PV capacity in India, there has also been a proliferation of smaller solar PV systems, mostly in the rooftop segment. Currently, the rooftop PV systems are seeing relatively high growth in the industrial and commercial segments, whereas the installation of rooftop PV in residential systems is also being promoted.

Gujarat and Kerala are two states that have pioneered policy support for residential rooftop PV systems, and several other states have come out with policies to support rooftop PV. The Solar Energy Corporation of India(SECI) has also been allotting rooftop PV projects.

The Commercial value of O&M It is a well-known fact that the Levelised Cost of Electricity(LCOE) of a solar system is inversely proportional to the amount of electricity generated, and

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Maintenance of Solar Installations All solar PV installations require the following types of maintenance– 1. Preventive Maintenance (PM) – As the name suggests, the PM is carried out to prevent breakdowns and reduce energy generation losses by conducting regular inspections periodically and servicing of the various components.

directly proportional to both the Capital Expenditure(Capex) and Operational Expenditure(Opex) as given in the formula below.

battery etc.) and the design and installation cost(System Integration/EPC). The Opex meanwhile accounts for the O&M expenses. While most developers or system owners take extreme care in the Capex part, the

LCOE (Capex+Opex)/ Generation

Opex part is usually neglected. However,

In the case of smaller systems, Capex includes the initial procurement price for the modules and BoS components (inverters,

installation throughout its lifetime of 20-25

the consistency in performance of any solar years (especially after the initial few years) is largely impacted by the Opex contribution.

2. Corrective Maintenance (CM) or breakdown Maintenance (BM) – Corrective Maintenance mainly refers to the repair of broken down equipment and will be high if the efforts on Preventive Maintenance is low. 3. Condition-Based Monitoring (CBM) – The primary objective of CBM is to diagnose problems at a very nascent stage to prevent downtime of the system as much as possible. In order to do a CBM, there has to be a robust plant performance monitoring system that monitors the operating condition of the components and provides actionable real-time information.

CONSULTANCY

&TRAINING

ROOFTOPS 2MW+

UTILITY SCALE 21MW+ PR -enhancement

&

PLANT OPTIMISATION

www.adsprojects.org www.ads-gka.com Contact Details:

Deepanker Bishnoi +91-783 878 4466 coo@adsprojects.org ADS SOLAR SOLUTIONS 1st Floor, 40, Hanuman Lane, Connaught Place, New Delhi-01


Recommended Action Plan for O&M Preventive Maintenance (PM) through periodically scheduled activities will help in ensuring a consistency in power output. It will also significantly contribute to reducing downtimes that lead to energy losses by detecting problems at a very early stage and taking corrective action. Since Solar PV systems do not have moving parts, the PM is fairly straightforward, but still has to be done very diligently. Although the role of training in technology is limited for system maintenance, it is highly beneficial to have them checked and verified by trained technicians who can detect abnormalities in performance before the imminent failure. The PM should focus on the three majorparts of the PV system – PV Modules, Inverters and the Balance of Systems which includes cabling, junction boxes, earthing, structures etc. In India, since the dust levels are very high, panel cleaning once every 10 days or 2 weeks is an integral part of the PM. Apart from cleaning, routine visual inspection to detect damages, dirt build-up or new structures that cause shading, should be carried out. The mounting structures and the fixtures should be checked for corrosion, in Sl.No 1

2

Components/ Equipment PV Modules

PV Inverter

Singapore, provides some recommendations on the actions that can be taken to identify problem areas and taking remedial measures. Apart from the above, if there is chemical battery storage, these storage systems also need to be regularly checked and serviced. Maintenance of battery, which includes controlling the ambient temperature, acid level, position and orientation etc., can be quite tricky for the average consumer.

Challenges with O&M of small scale PV Systems

order to ensure that the structural integrity of the system is not compromised. When it comes to inverter, Condition Based Monitoring will tell the health of the system, but it is also important to carry routine on-site inspection to check the health of the other components like surge protection devices, cable connections among others especially in the case of commercial installations. The table below reproduced from the Handbook for SPV systems by EMA and BCA,

Description a. Check for dust/debris on surface of PV Module b. Check for Physical damage to any PV module c. Check for loose cable terminations between PV

There are significant challenges with O&M for both ground-mounted and rooftop systems. a. Poor Prioritization of O&M activities by the owners/developers especially since they are unlikely to monitor the system performance on a daily basis (unlike power plants). b.

Absence of a standardized methodical procedure for Maintenance of Solar PV installation that encompasses all components and takes into account all three forms of maintenance – preventive, corrective as well as condition-based.

Remedy/Action Wipe clean. Do not use any solvents other than water Recommend replacement if found damaged Retighten connection

modules, PV arrays, etc d. Check for cable conditions Replace cable if necessary a. Check functionality, e.g. automatic disconnection Recommend replacement if functionality fails upon loss of grid power supply b. Check ventilation condition c. Check for loose cable terminations c. Check for abnormal operating temperature a. Check for cable conditions i.e. wear and tear b. Check cable terminals for burnt marks, hot spots

3

Cabling

4

Junction Boxes

5 6

connections b. Check for warning notices c. Check for physical damage Means of isolation Check functionality Earthing of Solar PV a. Check earthing cable conditions

Clear dust and dirt in ventilation system Tighten connection Recommend replacement Replace cable if necessary Tighten connections or recommend replacement

or loose connections a. Check cable terminals e.g. wear and tear or loose Tighten or recommend replacement Replace warning notice if necessary Recommend replacement Recommend replacement Recommend replacement

system

7

b. Check the physical earthing connection c. Check continuity of the cable to electrical earth Bon ding of exp os ed a. Check bonding cable conditions

Retighten connection Troubleshoot or recommend replacement Recommend replacement

metallic structure of solar PV system to lightning earth b. Check physical bonding connection Tighten connection c. Check continuity of the bonding to lightning earth Troubleshoot or recommend replacement

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c.

Inadequate technical knowledge (electrical, mechanical and structural) of the developer/owner or the in-house team that handles maintenance for the PM and lack of proper training arrangement for system maintenance.

d. Incorrect maintenance practices adopted (like use of cleaning agents) and improper utilization of the system (like overloading it) out of ignorance. e.

Dust collection and shading are a major challenge irrespective of the location of the system, be it urban roof-tops or barren lands within the premises of a factory.

Conclusion As we have seen above, O&M is very critical for ensuring the return on investments, and requires focused attention. Keeping a solar installation operational for 25 years might appear effortless, but maintaining its performance all the while is not so simple. Technical expertise from various fields like electrical engineering, power electronics, structural engineering etc. has to be deployed on a regular basis through scientifically developed procedures to ensure that the system performs optimally especially once the components start aging. It is in the interest of the developer/owner of the solar plant(irrespective of the size of the plant) to invest in professionally handled O&M services, and this investment will definitely pay off in the long run.

Mr. T Sriraman is the Founder and Managing Director of Soltech Equipments. Established in 1986, they are among the earliest companies in the area of Solar Power in India. They provideturnkey EPC and O&M services for multi-MW Power Plants, Rooftop PV and Solar Thermal power solutions to Industrial and Domestic consumers.. Mr. Sriraman is also Executive Member and nominated representative in several Indian and International forums and delegations representing the solar industry. A Master of Technology by his education, Mr. Sriraman has commissioned various turnkey projects across the globe and is well-versed in delivering end-toend solutions.

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SO L A R ENERGY

Is Indian Solar Industry Should Start Focusing On KWhr/M2 More Than KWp/M2 Krishnan Rajagopalan, Head – Solar Business (Anchor Electricals P Ltd)

I

ndian Solar Industry is in the growth path today, thanks to the Jawaharlal Nehru National Solar Mission (JNNSM) promoted by the Central Govt, which brought in capacity addition of 2.2 GW in total (including captive, state policies etc.,) in the country at the start of this year 2014. Today Indian Solar industry in a cross road, where the utility scale projects having achieved tariff close to Grid Parity in certain states and inching towards national level Grid parity levels. But the big question lies in the Rooftop segment, which is still to start unleashing its full potential. Some of the challenges faced are policy issues, connectivity, open access clarifications, net metering policies and PPA at the State level. The private commercial and industrial captive segment is faced with challenges like limited roof top, space efficiency, capital cost, shadow effects and most important lease model. On the other hand, the technology selection and knowledge on proper technology selection has not matured yet. Predominantly the Solar Industry market is dominated by Poly Crystalline modules because of their lower cost and moderate efficiency. When it comes to Roof top projects, customers / investors should start focusing on Energy generation per M2 area utilized rather than capacity. Solar energy is estimated at 1000 W/m2 under STC conditions and efficiency of modules means, units generated per m2 area. Temperature plays a major role as well when it comes to tropical sites like India where most of the times, the temperature is way beyond the STC condition of 25 Deg C. In tropical conditions, low light condition and cloud covers are inevitable as well. It is very 26

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important for customers / investors to choose technologies which provide space efficiency, maximum energy production, lower negative temperature coefficient and shows better performance during low light condition. In order to achieve this, Mono crystalline cells are used (efficiency of cells are 19% to 25%), as they provide the higher efficiency, but they are don’t show the highest resistant to higher temperatures (-0.38 to -0.4%/ deg C) and low light sensitivity. Thin film (a-Si) technology shows best resistant to temperature coefficient (-0.19% to 0.2%/deg C) and low light performance, but has the low generation efficiency. Is there technologies which can offer all these parameters in one module? One such technology is Panasonic’s trademark technology HIT (Hetero Junction Intrinsic Thin Layer) Solar PV modules which offer very high space efficiency and high resistance to temperatures. This is understood to be a sandwich technology which employs a very high purity n-type mono crystalline cell sandwiched between ultra thin a-Si

deposition on top and bottom, this enables this module to generate the highest energy per Sq Mtr area utilized and higher energy generation per KWp installed annually. The company started with a-Si technology in 1975 and started HIT mass production in 1990, with over 38 years of field application experience, Panasonic offers one of the finest solar module technologies today. Some of the salient features of HIT module are: 1. Highest Space Efficiency (Module area is 1.261 Sq Mtr) 2. Record Lab scale cell efficiency of 25.6% 3. Commercial mass production module Efficiency (19.4%) 4. Lower Negative Temperature Coefficient of Pmax (-0.29%/Deg C) 5. Lower weight of module (15 kg) 6. Highest quality standards and very high reliability rate. A warehouse near Mumbai decided to install Solar PV plant in its Rooftop to

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reduce its ever increasing energy bill and evaluated HIT technology and Poly crystalline technology. From the validated technology evaluation report from TUV Rheinland, the plant employed 2.0 KWp capacities each of 210 Wp HIT technology and normal 245 Wp Poly Crystalline technology. HIT could accommodate the same capacity in 22% less area and consistently generated on an average 30% more power than the poly crystalline modules. These plants are connected to identical loads using battery backup. Most interesting part was HIT generated more power during hot summer and monsoons because of the lower temperature coefficient and also the better low luminance sensitivity. Fig: Energy Generation of HIT Technology Vs Poly Crystalline Technology In a similar project case, a factory at Daman installed a 5.32 KWp Roof top pilot project with HIT Technology to evaluate and wanted to increase the capacity once

based on HIT technology. Today the same technology is available with 19.4% efficiency and 240 to 245 Wp capacities. It is evident that with 245Wp modules, the energy generation could reach to new heights.

CONCLUSION:

proven. This plant utilized an old generation HIT module with 16% efficiency and 190 Wp capacity. But the generation figures are very promising, as EQ International accessed the validated evaluation report from TUV, the report states than on an average the 190Wp HIT modules can generation more than 30,000 Whr per day from 5.32 KWp. After a year’s performance data, the factory is deciding to install a 500 KWp plant

It is time for Indian Solar Industry to focus on Energy Generation per Sq Mtr area utilized particularly in the Captive, Commercial and Industrial Rooftop projects. Also to choose technology that can provide higher resistance and lower degradation to temperatures and also generate more power during low light condition. Because of the proven benefits of these technologies, even though the capital cost of the system is slightly higher initially, the life cycle of electricity generation and cash flows are much better compared to conventional technologies.

Maybe you can’t pronounce our name... ...but you know you can trust our 4,000MW of Global and over 1,150MW of Indian Solar Energy expertise Owner’s engineering Detailed design services Lender’s independent engineer Technical due diligence Independent plant performance testing Call us: +91 (0) 206 527 9957 Email us: india.info@sgurrenergy.com Sgurr, pronounced Skoor; n.peak, pinnacle, summit

sgurrenergy.com


SO L A R ENERGY

Lightning & Earthing Protection System for Solar PV Installations Varun Goel, Sr. Manager Renewables & Safety - DEHN India Pvt. Ltd.

S

olar power plants are exposed to various weather conditions in their life time. Sunny days are most desirable but rain and thunderstorms can affect the performance of solar PV Plants adversely. Lightning can cause damages and even fire in the power plant components which not only lead to capital damage but also loss of revenue generated by the plant. For protecting the solar power plants against threats of lightning strikes, IEC 62305 and EN 50539 standards are followed.As per these standards a robust lightning protection system comprisesof:-

An improper selection of lightning and surge protection can result in perforation of cables, burning of data boards or combiner boxes or damages to the monitoring part of the equipment.

(a.) External Lightning Protection (ELP) – For collection of lightning away from panels.

This is an ideal method for lightning protection and is used to protect several special areas such as explosive and nuclear storages; however, it is unsurprisingly costly

(b.) Internal Lightning Protection (ILP) – For protecting inverters and other electronic components (c.) Earthing / Grounding – For human safety as well safe dissipation of lightning current. Lightning releases heavy amount of energy which may lead to spark overs and hence fire. Substantial lightning interference may be injected into the building through PV systems so it’s essential to determine the risk of damage posed by lightning strike as per IEC 62305-2 and design accordingly.

Damages - Lightning Strikes Carriers for lightning current can be electric power lines, telephone lines,analog or digital data lines (e.g., CCTV cameras, sensors etc.). This direct injection of lightning current can cause immense damage to electrical – and especially electronic – circuits.Providing an effective lightning protection system will also mean protection against fire hazards.

Fig 1 : Damages due to lightning.

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External Lightning Protection (ELP) Many methods are used to protect the assets and services from the dangers of lightning.One such method is the Faraday cage – a metal cage which surrounds a protected area.

Fig 2 : DEHN HVI® CONDUCTOR

and infeasible to be used on a large scale. Another measure, which is still widely used and accepted in international standard, is Franklin Rod Method. In this method a metal rod is used for collecting the lightning strike which in turn is connected via a down conductor to earth. Collection of welldesigned lightning capturing system, down conductor system and grounding / earthing arrangement will constitute a good external lightning protection (ELP) system. As per IEC 62305 standards, in order to avoid dangerous flashovers between ELP system and internal conductive parts (electrical installation, piping, etc.), a separation distance should be considered between down conductor and internal conductive parts. This is often a problem at new / existing installations. Without separation distance, high impulse voltages cause flashovers on surfaces of insulating materials. This effect is known as a creeping flashover. This creepage discharge inception voltage being exceeded, a surface discharge initiates which can easily spark over a gap of several meters. In order to

avoid creepage discharges, the DEHNHVI® conductor has a special external coating with the potential to reset high lightning impulse voltages to a reference potential. The innovative DEHNHVI® conductor provides an easy solution to creepage flashover problem without any need of maintaining the separation distance.

Internal Lightning Protection (ILP) Be itrooftop or aground mounted photovoltaic systems, they are required to be equipped with adequate lightning and surge protection systems.The modular surge arresters type DEHNguard M YPV SCI... (FM) was particularly designed for protecting equipment in photovoltaic systems. The innovative three-step DC switching device makes these arresters especially safe so that they fulfil the requirements of modern photovoltaic systems. Surge protection devices are shunt devices which are connected between positive, negative and ground. The surge arresters are having limited life time depending upon the number of strikes and their health need to be monitored. For this reason visual indication is provided in the SPD which operates based on a series thermal disconnect and spring operation. The operation of this series thermal fuse may cause DC arcing in the SPD as envisaged in EN 50539 standards. In order to protect the human beings and also to avoid the possibility of fire due to this DC arcing, special arrangements in the SPD are required to interrupt this DC arcing which is majorly driven by short circuit current of the PV power plant. In other words, The SPD is expected to extinguish the short circuit current safely to avoid DC arcs. The tried and tested safety philosophies of the fault-resistant Y - circuit consisting of three varistor protective circuits and the innovative Short Circuit Interruption (SCI) technology eliminates the possibility of dangerous DC arcing. This mechanism

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helps to avoid fire hazards and also offer increased safety to working personnel against DC arcs. SCI Technology for Surge Protection devices in Internal Lightning Protection DEHN is the only company that offers surge arresters with innovative Short Circuit Interruption (SCI) technology providing maximum safety and fire protection for PV systems. A fuse specifically dimensioned for PV systems in the bypass path ensures safe electrical isolation of the surge protective device at any given time irrespective of solar irradiation level.

system.

voltage to earth during normal operation.

3. Equipment Grounding Conductor (EGC) which is a conductive path(s) installed to connect normally non–current-carrying metal parts of equipment together to the system grounded conductor or to GEC, or both.

Ground Fault:It is an accidental electrical short circuit involving ground and one or more normally current-carrying conductors. Ground-faults in PV arrays often draw people’s safety concerns because DC arc gets generated which could lead to a fire hazard.

The connection between the various components of the grounding system are equally important which is why it is crucial that all equipment used, (and throughout the entirety of the PV system) be lab tested and installed according to the specifications. Module Grounding:Metallic module frames must be grounded. Array Grounding Conductor Installation: The grounding conductor that runs within the array typically serves both as EGC and

Most installers are familiar with equipment grounding (EG), which is the more traditional and visible form of grounding. Second type of grounding is called system grounding. In some of the designs, one of the two conductors coming out of the PV system will be grounded. Otherwise the power plants are floating systems. A grounding system is only as strong as its weakest link. A few components that are found in almost all PV grounding systems are:1. Grounding Electrode through which a direct connection to earth is established and is usually a ground rod. 2. Grounding Electrode Conductor (GEC) to connect the system-grounded conductor or the equipment to a grounding electrode or to a point on the grounding electrode system. It’s sized based on the potential fault current that could flow through it if something went wrong in the electrical

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Summary Solar PV plant is a long term commitment and its sound operation is the ultimate goal to deliver promised returns. If optimum lightning, surge protection and earthing practices are not incorporated in the inception phase of the power plant then it may lead to capital and revenue losses. Lightning protection is a special subject driven by international standards and experts may be consulted for complied design of protection systems with respect to IEC.

Earthing / Grounding Grounding is designed to keep installers — and anyone else who has to service the system in the future — protected from coming into contact with electrical current. Any metal or potentially conductive materials that are likely to be energized in the system must be grounded. If it’s metal, it needs to be grounded.

All exposed metal partsof PV systems (regardless of voltage) must also be grounded. This is accomplished through the electrical interconnection of all the metal parts with the earth.

DC GEC. Enclosure and Conduit Grounding: All metal enclosures (boxes) and conduits that contain energized conductors must be properly grounded which is typically achieved by routing the EGC/GEC through some type of “layin” conn ection that allows the grounding conductor to maintain its continuity. E a r t h Bonding:Grounded Electrical systems shall be connected to ear th in a manner that limits the voltage imposed by lightning, line surges, or unintentional contact with highervoltage lines which will stabilize the

It is important to know the risks involved due to possible DC arcing and selection of SPDs must also be made based upon their Iscpv rating duly approved by independent testing agencies like KEMA / VDE to ensure quality and reliability.


S O L A R P V M A N UF A CT URI N G

Photo Voltaic Ribbon – Small Yet Significant Gateway To An Efficient Module. Dheeraja M, (M.Sc. Analytical Chemistry) Quality Assurance, The PV Connect.

P

hotovoltaic power has always been available as a major renewable power source meeting the need for an alternative energy resource since its discovery. In the recent years, it has become not only consistent but also affordable. The challenge of solar industry is to accumulate the solarenergy and utilize it in an effective way.The PV module acts as the moderator in transferring that energy to the final output and the entire process is dependent on module’s efficiency. Therefore any PV module user looks for the one which is efficient, durable and cost-effective. A commercially viable module not only is profitable but also serves as a long-term investment. All these factors are in turn dependant on the components that go into the making of the module as they determine its reliability. Photovoltaic ribbon, also called the interconnector, stringing ribbon or tabbing ribbon is one of the vital components of the module which has impact on its life-time workability. We, at The PV Connect, a stringing ribbon manufacturing unit in India understand the importance of photovoltaic ribbon and have been producing steadfast ribbon since 6 years. The tabbing ribbon costs less compared to other parts of module and there is a

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possibility of ignoring the role essayed by it. The ribbon is an integral constituent as the power that is generated by the cells is conducted and supplied to the output through it. Therefore it is important to look for a lucrative ribbon with fine quality as it fetches long-term benefits for the user. Any improperly formulated ribbon material or poorly controlled soldering processes can contribute to premature failure subsequently resulting in overheating or failure of the modules.This type of failure leads to significant loss of power often early in the life of the module. SEMI, an international organization has set up standards and guidelines to specify photovoltaic interconnecting ribbon for the benefit of the end user i.e. module manufacturers to avoid these discrepancies in the properties of ribbon from different manufacturers. The thermo-mechanical balance between the solar cell and stringing ribbon is also one of the main factors that affect the performance and reliability of modules. The ribbon parameters that induce cell stress within a module are mechanical properties of ribbon, soldering temperature, thickness and profile of

coating.Therefore proper isolation of the problem is critical for narrow scope of investigation. The mechanical properties of tabbing ribbon which include resistance, elongation and yield strength have a direct effect on its efficiency.Resistance is that property of ribbon which directly manifests its impact on the overall output as the increase in resistance decreases the conductance thus reducing the current carrying capacity of the module gradually.The PV Connect offers a solution to this problem by producing a photovoltaic interconnecting ribbonwith a consistent resistance that results in an efficient module ultimately. Graph depicting the effect of Temperature on Resistance and Conductance Elongation implies the strain that the ribbon thrusts on the solar cell. It is also a measure of ductility as higher elongation makes the ribbon feasible to adjust to the temperature changes of the surrounding

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atmosphere thus increasing the resistance to fatigue. A ribbon with low elongation poses risk of breakage over a course of time. Elongation is influenced by ductility of the ribbon. Yield strength represents the amount of thermal stress transmitted to a solar cell by the ribbon thereby degrading the amount of power that can be generated due to factures in cell. Higher the stress, higher is therisk of fracture. Therefore, a ribbon with low yield strength reduces the thermal stress on the cell thereby preventing its fracture and increasing its performance. Proper cold working of the ribbon and annealing reduce yield strength. Therefore, maintaining a balance between these electrical(Resistance) and mechanical properties(Elongation and Yield strength)of the interconnector is crucial for proper functioning of the module. This is attained by high quality input requirements i.e. rolling the feed wire to a precise diameter, a method chosen by The PV Connect.

width variation, poor camber, poor solder coating, irregular resistance and elongation. Hence the above parameters have to be checked on a regular basis. This is where the need of a Quality control system arises which ensures the superiority of ribbon. Quality testing of ribbon plays a crucial role in the manufacturing process as the product cannot be delivered without assurance. Quality assurance ensures that the process is under control and the ribbons being manufactured meet the requirements of clients. Certification according to standards laid by International organization like SEMI (SEMICONDUCTOR EQUIPMENT AND MATERIALS INTERNATIONAL) guarantees that the processes followed are accountable and offer a way to meet the challenges of increasing productivity. Moreover, companies utilizing standards can decrease manufacturing costs, increase reliability and productivity.

are important to avoidribbon performance differences in PV module processes. With SEMI 4800, PV module manufacturers can expect to receive equal quality from different sources. We, The PV Connect, a member of SEMI work group, are driven by the commitment to ensure that the ribbon manufactured is in compliance with the SEMI standard 4800 by an in-house manufacturing and testing system that is aimed at continual improvement of ribbon quality. Our Quality system boasts of the unwavering commitment to the Company’s quality policy as the compromise on the quality of the ribbon puts the entire endeavor in vain.We take utmost pleasure to say that 80MW of power is already supplied by our unit in major states of India.Therefore it would be an understatement to say that Time and Quality are our driving forces.

On an individual basis, it provides access Other factors that influence the ribbon’s to evolving technology and aides’ personal efficiency include soldering. It reduces development besides increasing customer corrosion, improves surface finesse and satisfaction, lowering manufacturing costs. increases softness. Soldering influences SEMI S TA N D A R D 4800 ribbon cross-section, ribbon stretching and specifies guidelines for PV RIBBON coating thickness. Often, the thickness of CHARACTERISTICS that helps to provide the ribbon is less than the specified value ribbon specifications for PV applications which in order to cut down the manufacturing costs. Due to the reduction SEMI STANDARD – 4800: GUIDE FOR SPECIFYING A PHOTOVOLTAIC CONNECTOR RIBBON in cell thickness, there will be power loss in the module as resistance of the interconnection raises. For this reason reducing ribbon crosssection to avoid cell stress in modules is not the possible option. The best way is to produce a ribbon with the same cross-section but with enhanced annealing and soldering techniques thereby maintaining a fine balance between the production costs and quality of the product. Manufacturers going for the low-cost production of the ribbon face challenges like

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Characteristic

Parameter

Units

Chemical composition of copper base material Base material

Electrical Conductivity of copper base material Quality of base material Shaped)

( Rolled or

According to DIN EN 13602 or ASTM B5 or ASTM B170

Width of copper core and tolerance Dimension of copper core

Physical properties of finished product

Thickness of copper core and tolerance range

mm

Yield strength Rp0.2

N/mm2

Tensile strength Rm

N/mm2

Elongation at rupture

%

Solder coating material Solder coating

Composition in weight percentage

Solder coating thickness Quality of solder coating

µm

(Electro-plated- Hot tip tinned- Clad) Surface condition

Optical Appearance

Straightness

Camber

mm/m

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S O L A R P V M A N UF A CT URI N G

White Paper On Solar Manufacturing Sector In India KPMG

Executive Summary Solar power is a strategic need for the country as solar power can potentially save around USD 20 bn. in fossil fuel imports annually by 2030. •

A sustainable domestic manufacturing industry can save USD 42 bn. in equipment imports by 2030 and create 50,000 direct jobs and at least 125,000 indirect jobs in the next 5 years, besides providing equipment supply security. India’s Manufacturing Policy recognisessolar manufacturing to be of strategic importance; this intent needs

to be backed with measures to help provide a level-playing field to help build economic scale and supportive supply chain which is lacking. •

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The electronics equipment industry is an example where India today imports over USD 30 bn. annually because we did not build scale at the right time. The cost of catch-up today is enormous. While supporting domestic manufacturing industry will result in moderately higher prices of solar power in the short run, in the medium term cost curves will fall as scale and supply chains develop. Further, entry barriers for cell and module investments are low with lead times of 6-12 months only. The net benefit to the Government of promoting domestic manufacturing is

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expected to be USD 1.1 bn. over next 10 years accounting for higher taxes due to GDP effect.

Solar power is a strategic need for the country as solar power can potentially save USD 20 billion in fossil fuel imports annually by 2030 and domestic manufacturing can save USD 42 billion in equipment imports by 2030

India’s energy imports have risen sharply from USD 43 bn. in 2005-06 to USD 167 bn. in 2013-14. In comparison India’s trade deficit in 2013-14 was USD 139 bn.

In the absence of manufacturing, India will need to import USD 42 bn. of solar equipment by 2030 corresponding to 100 GW ** of installed capacity

Solar manufacturing can also create direct employment of more than 50,000 in the next 5 years assuming local manufacturing captures 50% domestic market share and 10% global market share. Another at least 125,000* indirect jobs will be created in the supply chain

Solar manufacturing has been recognisedas

strategic by the Government; this is important since global examples show how supply shocks of strategic resources can disrupt development of downstream industry India may not be able to utilize its large solar energy resources, if imports of solar panels gets impacted due to •

Major Exporters using their production for their domestic use.

Sudden jump in prices in the future due to supply shortages (e.g.. Polysilicon price jump in 2008)

Dispute with major suppliers (as evidenced in case of China’s rare earth supply to Japan or supply of gas by Russia to European nations –Case Study 1)

India’s Manufacturing Policy recognizes solar manufacturing as an industry with ‘strategic importance’. However, the policy is yet to have the intended effect. •

40% of the Indian solar cell manufacturers have shut down with industry utilization at only 21%

The industry has suffered due to sudden and sharp price declines due to global over-supply and lack of a level playing field Source –MNRE,DGAD

Globally, ther e ar e examples of countries providing strategic support to solar energy also supporting solar manufacturing •

China has developed ‘solar champions’ in a systematic manner through massive subsidies, low interest loans, grants and easy access to land and utilities–(Case Study -2)

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Globally, manufacturing bases are being planned as integrated solar industrial clusters with strong Government support –(Case Study -3)

Indian Manufacturing is competitive but suffers due to lack of incentives when compared to manufacturing in other nations Indian manufacturing costs are higher due to three major reasons •

Lack of scale -Indian factory sizes are only one-fifth the size of a typical Asian factory

Source –CASM, EU Pro Sun, InterPV, SEIA, DOE ,Invest Taiwan, US ITC,MNRE,CDB,LDK Solar,SEDA,Forbes

If we miss the opportunity to build the industry today, we may not be able to catch up later owing to creation of significant entry barriers Why it is necessary to support a strategic industry at early state of the life cycle -

Economies of scale results in lower cost and brand building

sharing are developed •

Research institutions develop industry linkages and support innovation

Countries which have supported industries at an early stage, have developed sustainable competitive advantages •

Chinese Wind industry (Case Study-5)

Spanish Wind industry (Case Study-6)

Ontario’s Solar industry (Case Study-7

India has become import dependent in key sectors (e.g.. Electronics)and it has become difficult to catch-up (Case Study-8) However, India has developed competitive advantages in some industries due to crucial support provided at an Early Stage

Insufficient government support -Other countries have provided massive loans, tax holidays, subsidized utility services, easy access to land and technology support Underdeveloped supply chain –Indian manufacturers have no access to domestic upstream raw material supplies of polysilicon and wafers.

USA has guaranteed loans of more than USD 15 bn. to solar projects and USD 1.1 bn. to manufacturers. Chinese government owned banks have extended credit lines of more than USD 40 bn. to 10 domestic manufacturers.

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Skilled manpower gets developed with passage of time

Overall strategy for innovation and exports are developed at an early stage

Appreciation of industry and competitive dynamics

Large domestic market helps in expanding capacity

Capabilities are built to compete effectively in competitive global markets

Strong ancillary industry is created

Clusters for knowledge and infrastructure

Support to Auto and Pharma industry (Case Study-9)

Anti Dumping Duty measures on Polypropylene (Case Study-10)

Concern over sharp price rise can be allayed given the availability of capacity from “nonADD” countries as well as low entry barriers in creation of new capacities (1/2) •

More than 8000 MW of solar panels/ cells capacity exists in just six nondumping subject countries.

Spare capacity exists worldwide (other than China, Taiwan, USA and Malaysia ) that can fulfill more than 10x of India’s

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2014 demand •

There is a cost difference of only 5-10% between the largest Chinese solar panel supplier and the largest Singaporean solar panel supplier indicating availability of competitively priced imports

within these levels as competition from imports remains

Concern over sharp price rise can be allayed given the availability of capacity from “nonADD” countries as well as low entry barriers in creation of new capacities (2/2) •

Investment lead times are between 6 to 12 months for cells and module capacities and capital requirements are less than INR 200 crores, thus enabling competitive supplies to come quickly in the event of sharp price rises

• The average price difference was Rs 1 crore per MW (~16% of solar plant cost) between non-DCR and DCR solar bids during JNNSM Phase 2 Batch 1 auctions. •

The price impact of ADD logically will be

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Anti Dumping Duty on Chinese panels did not impact USA solar energy growth as imports and domestic production easily met the gap

Case Study 1: Overdependence on critical fuel sources and materials can prove to be disruptive Chinese Export Embargo impact on REE prices

Rare Earth Elements (REE) are critical inputs for Japanese giants like Mitsubishi, Toyota and Sony in hi-tech manufacturing of electric vehicles, wind turbines and defense equipment

China controlled 97 percent of the global REE supply and Japan imported 80 percent of its REE requirements from China

In 2010, China cut its REE export quota by 39 percent while banning the export of 41 rare earth-related processed products

As a result, REE Prices more than tripled in 2011 and Japanese production was severely disrupted

Case Study 2: Creating Solar “National Champions” has become a strategic imperative for large nations

The Indian government would be a net beneficiary by encouraging solar manufacturing as jobs would be created and taxes will increase

“Support will be provided to major enterprises to grow stronger so that by 2015, leading polysilicon enterprises will reach 50,000 metric tons per year, and major

While India will face some short term pain due to increase in solar panel prices, impact will be limited to less than 1 paisa per unit of power consumed at the national level

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extended support to the industry

enterprises will reach 10,000 metric tons per year; leading solar cell enterprises will reach the 5GW level, and major enterprises will reach the 1GW level. By 2015, in China there will be one PV enterprise with annual sales revenue exceeding RMB 100 billion, 3-5 PV enterprises with annual sales revenue exceeding RMB 50 billion, and 3-4 enterprises specializing in PV equipment manufacturing with annual sales revenue exceeding RMB 1 billion” –Chinese 12thFive Year Plan

Case Study 4 -Many countries have realized the importance of solar manufacturing and have

Case Study 5 -China developed the world’s largest wind turbine industry through multipronged government support (1995-2009)

China already has 7 of the 10 global “solar champions“ and it is plans to make them even more dominant as solar energy becomes an increasingly important component of the global energy basket

Case Study 3: Taiwan’s three solar industrial

clusters have been instrumental in making it the world’s second largest solar cells producer Taiwan has developed 3 solar industrial clusters in Hsin-Chu Science Park (HSP), Central Taiwan Science Park (CSP) and Southern Taiwan Science Park (STSP). The whole solar supply chain is represented in these clusters which accounts for ~65% of the Taiwan’s total production value

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Case Study 6 -Favorable government policies spurred the growth of domestic wind manufacturing in Spain, in particular Gamesa

Canadian Solar saw its revenues jump by 20x between 2006 and 2013 as it took advantage of the solar industry growth boosted by government support

The company has become the 3rdlargest solar panel supplier in the world with major manufacturing bases in both China and Canada

It employs 10,000 people in 19 countries and is expanding module capacity in Ontario to 530 MW from 300 MW

Case Study 8 –It has become very costly and difficult for India to catch-up in electronics manufacturing

Case Study 7 -DCR requirements helped establish the entire solar value chain in Canada attracting substantial investments

Ontario linked subsidies to DCR in 2009 which led a sharp increase in FDI and domestic investments in solar manufacturing.

In 2014, DCR was removed due to a WTO case by Japan. However, growth is continuing due to deep roots that the industry has established in the province

The development of the solar panels industry was followed by the development of solar inverter industry.

Ancillary industries such as racking systems and wiring also started showing strong growth.

Domestic industry gained technical expertise and became competitive in global markets. Local companies have now become exporters.

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Despite being one of the world’s largest consumers of electronic, Imports account for more than 60% of domestic demand •

Electronics industry was not given due importance during early stages of evolution

As a consequence, Electronic imports now are the 4thbiggest item in India’s import basket accounting for 23% of trade deficit

Asian economies such as South Korea, Taiwan and China have become significant global players and have succeeded in creating large scale employment

The Indian government in contrast has inadvertently created hostile conditions for electronics manufacturing which has made foreign manufacturers close even existing facilities

Government has belatedly tried to promote domestic manufacturing through 20-25% capital subsidy and incentives such as interest free loans and tax breaks.

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But, it has been hard to encourage domestic manufacturing owing to poor scale economics amongst other reasons

Case Study 9: India has built competitive advantage in some industries with the right degree of support during the Initial Stages (1/2) –Automobile Industry

income in 2004 •

Market development: Reduced excise duty on compact cars from 24% to16% in 2006

Led to a thriving and robust Auto industry … •

20 million vehicles produced in 2014 with exports increasing at 18.5% CAGR during FY 2008–13

Auto-component industry exports reached USD 9.3 bn. in 2012-13

Auto industry currently accounts for almost 7 per cent of the country’s GDPand employs about 19 million peopleboth directly and indirectly

Case Study 9: India has built competitive advantage in some industries with the right degree of support during the Initial Stages (2/2) –Pharmaceutical Industry Government policy measures and support

Million units Passenger vehicles

Commercial vehicles

Three wheelers

Two wheelers

Indigenous self-reliance: Laws were legislated in 1970s and 1980s for increasing competition

Market liberalization and de-licensing in1991

Budgetary Support of INR 1396 Croresduring Eleventh plan period

Encouragement for R&D:Tax deduction of 150% for the R&D expenditure

Insurance coverto fund research

Led to a thriving and robust Pharmaindustry … •

Bulk drug industry grew at CAGR of 21% and 11% in 1970s and 1980s respectively

India exports generic medicines to almost 200 countries and has about 40 percent share of the US generic and OTC drugs

Exports grew from INR 25,000 Cr. in FY09 to INR 90,000 Cr. in FY14

Government policy measures and support •

Bringing latest technology and Japanese management techniques: Government brought Suzuki to India in 1983

De-licensing: Liberalization of markets in 1993 allowed easy entry of domestic companies

Approval for FDI: Automatic FDI approval for up to 51% equity in 1997 and up to 100% equity in 2002 Encouragement to R&D: 150% of R&D expenses deductible from taxable

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any change may impact the outcome of our review

Wherever our report makes reference to ‘KPMG Analysis’, it indicates that we have (where specified) undertaken certain analytical activities with reasonable assumptions on the underlying data to arrive at the information presented; we do not accept responsibility for the underlying data.Wherever information was not available in the public domain, suitable assumptions were made to extrapolate values for the same

We must emphasize that the realization of the prospective financial information set

Case Study 10 : Imposition of AntiDumping Duty turned India from a Polypropylene Importer to an Exporter

out within our report (based on secondary sources, as well as our internal analysis),

Disclaimer

is dependent on the continuing validity of

assumptions will need to be reviewed and

This document is being submitted to Indian Solar Manufacturers Association (ISMA) as the Final Report for our paid engagement in

Before Anti-Dumping Duty

assisting ISMA in developing white paper on solar manufacturing sector in India

In FY08, India imported around 25,000 tons of Polypropylene (PP) from Saudi Arabia as it was 10% cheaper than locally-manufactured PP

Petition for Anti Dumping Duty was filed by Reliance and supported by HaldiaPetrochemicals Consequently anti-dumping duties were levied on Oman, Singapore and Saudi Arabia Post Anti-Dumping Duty

Domestic production of PP kept pace with domestic demand, increasing from 1844 KT in 2006 to 3692 KT in 2012 (CAGR of 12.3%) India exported over 800 KT of PP in 2011 and 2012

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the assumptions on which it is based.The revised to reflect such changes in business trends, cost structures or the directionofthe business as further clarity emerges.We

The report contains KPMG’s analysis of

accept no responsibility for the realization

secondary sources of published information

of the prospective financial information.Our

and incorporates the inputs gathered through

inferences therefore will not and cannot be

interactions with industry sources, which for

directed to provide any assurance about the

reasons of confidentiality, cannot be quoted

achievability of the projections.Since the

in this document where deemed fit.While

projections relate to the future, actual results

information obtained from the public domain

are likely to be different from those shown

has not been verified for authenticity, we have

in the prospective financial information

obtained information, as far as possible, from

because events and circumstances frequently

sources generally considered to be reliable.

do not occur as expected, and differences

While KPMG has kept information in this

may be material.Any advice, opinion and/ or

paper as accurate as possible, KPMG makes

recommendation indicated in this document

no claims, promises, or guarantees about the

shall not amount to any form of guarantee

accuracy, completeness, or adequacy of the

that KPMG has determined and/ or predicted

information and expressly disclaims liability

future events or circumstances

for errors and omissions in the contents

Our analysis is based on the prevailing market conditions and regulatory environment and

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S O L A R P V M A N UF A CT URI N G

Interview with

Conrad Burke

Global Marketing Director, DuPont Photovoltaic Solutions EQ : How is DuPont contributing to the growth of Solar in India and what are your future plans? CB : While the number of solar installations is rapidly rising in India, the long term sustainability of the industry depends on ensuring interest in the sector is maintained through sustained project returns for developers and investors. Through its investments in advanced materials, DuPont helps ensure that the potential for project returns are high and the Levelized Cost of Electricity (LCOE) remains low throughout the life of the system. DuPont is actively collaborating with participants throughout the value chain, including system developers, Engineering, Procurement and Construction (EPC) companies, financial institutions and consultants to educate them on the importance of using proven materials within the panels procured for their installations. Over the last year, it has been encouraging to observe the deep appreciation and increased understanding the significance of materials. We are now seeing buyers considering fundamental performance and reliability of solar panels along with the other parameters including bankability, warranty and brands.

EQ : What are the top 3 / 5 focus areas for DPVS over the next 3-5 years? CB : By leveraging 30+ years of experience in solar materials and technology development, DuPont continues to deliver new and innovative solutions to help customers increase the power output, reliable lifetime and return on investment for solar energy systems. Key materials we focus on include: • 44

DuPont™ Solamet® photovoltaic

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August 2014

metallizations that are designed to deliver higher solar cell efficiency, which improve the power output of solar panels. • DuPont™ Tedlar® polyvinyl fluoride (PVF) film based backsheets that are proven to provide 30 years of proven durability and reliability for solar panels even when exposed to extreme outdoor conditions.

EQ : How big is the global PV materials business and what are the changes expected in the next five years? CB : Over the next several years, we expect 20 percent average annual growth in installations globally, as PV reaches grid parity in more markets. Photovoltaic installed system sales are expected to grow from $70 billion in 2010 to $100 billion in 2015. Crystalline silicon will remain the dominant technology in solar panels for the foreseeable future with over 80 percent market share. China and the United States are the major growth countries currently, while India and Japan show significant future growth.

EQ : Modules deployed in tropical countries like India go through extreme climates. How do you compare the long electrical

performance and the life of modules deployed in India with those deployed in colder countries say like Germany? CB : Solar panels installed in countries like India with extreme climates are simultaneously subjected to various environmental stresses such as strong Ultraviolet (UV) light, humidity, temperature, dirt and dust throughout their 25 year expected lifetimes. Over extended periods of time, these stresses can quickly break down poor quality materials, resulting in lower power output, reduced system lifetime and consequent investment depletion. The risk quotient in India increases significantly as climates vary across geographies: from high temperature zones with intense dust and wind (North West) to extreme humidity levels (South and West) posing greater risks to the long term performance of solar panels. Thus it is extremely important to only use timetested and durable materials in solar panels to enable them to survive these stresses and ensure they effectively produce power for 25 years or more.

EQ : Material cost is still a major component of the overall PV system cost. What is DuPont’s approach to bring down this cost?

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CB : DuPont photovoltaic (PV) materials are designed to increase the power output and lifetime of solar panels, and lower overall system costs to make solar power more competitive with other forms of electricity. Materials such as metallization pastes can also be engineered to increase efficiencies and reduce material laydown so that less material is required whilesustaining performance. Other materials can reduce the weight of systems, reducing Balance of System costs.

EQ : How do backsheets protect solar panels from power degradation? CB : A durable backsheet maintains the integrity of the encapsulation layer that cushions and protects the solar cells and sensitive electrical circuitry inside the solar panel. It is also critical for electrical insulation. Solar cell or circuitry degradation and yellowing of the encapsulation layer can lead to panel failure or premature power degradation. Safety issues can also be present if the electrical insulation layer is compromised.

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EQ : With changing times, the established Codes and standards may need to be re-assessed. What is DuPont’s perspective and are you participating in driving changes? CB : DuPont supports industry efforts to develop PV standards at the national and international levels. We offer technical information and perspective of the supply chain regarding module components, like backsheets, and other specialty PV materials. We think that industry standards should be representative of the service environment in terms of module safety, performance and durability. Test methods should be consistent across the industry to avoid confusion and duplicate efforts. Current industry standards are not predictive of long term performance in the service environment. Therefore, field performance remains the ultimate test for PV modules. Proven materials can best protect your investment for the expected lifetime of the PV system and minimize risk.

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EQ : What in your opinion is the one big thing that will make solar compete with conventional power? CB : Materials designed to improve the power output and reliable lifetime of solar panels lower overall system costs and are therefore critical to help solar become increasingly more competitive with other forms of electricity.

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S O L A R P V M A N UF A CT URI N G

Development Of Metallization On N-Type Silicon Bifacial Solar Cells Lucile Valette1, Erwann Picard1, Bachir Semmache1, Alexandru Focsa1, Oleksiy Nichiporuk2 - KOENEN GmbH

Contacting boron emitter by screen printing metallization is one of the most challenging criteria for the industrialization of high efficiency n-type silicon bifacial solar cells. However due to its easy handling and mass production compatible way, screen printing is still the most suited method to contact p+ surfaces. In this study, we determined the different losses coming from metallization and we reported the related guidelines to trend to the most suited low cost screen printed metallization by finding the optimum between current collection and recombination losses.

I

n high efficiency industrial processes, the technologies based on n-type monocrystalline substrates are trending towards bifacial concept thanks to the 10 - 30% additional power coming from the illuminated rear side. In the context, homojunction structures with passivated boron emitter are offering one of the most interesting ratio cost/performances (â‚Ź/ Wp). The performances of such concept are reaching 20-24% on lab scale [1] and 19.520.5% on industrial scale [2] [3]. These efficiencies are usually limited by the capability of the metallization to contact the boron emitter with reduces losses and passivation issues. The metallization-related losses can be categorized in two sorts, the resistive losses which include emitter, contact and metal resistances and the VOC losses due to recombination mechanism below the contact region (Jo,m) [4].

2. Bifacial cell concept In this work, advanced bifacial silicon solar cells were fabricated on 156x156 mm² full square n-type Cz-Si wafers. A schematic cross section of the cell concept is shown in figure1. The wafers were textured on both sides by wet alkaline process. Then the emitter was formed with a BCl3 diffusion and the BSF (Back Surface Field) with a POCl3 diffusion both in a high temperature thermal process in a quartz tube at reduced pressure. 46Â

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August 2014

Figure 1: schematic cross section of a bifacial n-type silicon solar cell

A thermal oxide was grown on both sides of the wafer prior to deposit the antireflective SiNx layers by plasma enhanced chemical vapor deposition (PECVD). Finally, both sides of the wafers were contacted by screen-printed Ag/Al (emitter side) and Ag (BSF side) grids, using commercial available pastes.

performance by increasing line resistance and spiking the emitter [5]. Printing modulations were done in order to identify and quantify the different losses coming from metallization which causes cell degradation. For that purpose, VOC scans made with a Corescan tool [6] were performed to identify the VOC losses. Different scan were realized

3. Experimental This study is only focused on the boron side metallization where a few percent of aluminum is needed in Ag paste to enable the contact formation on p+ emitter. However, this aluminum content Figure 2: pattern for printability test and contact and line can deteriorate the cell resistance measurements

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on wafers with i) H grid pattern, ii) floating busbar and iii) no busbar in order to evaluate the influence of the metal coverage. VOC values were measured by I-V electrical characterization and compared to the implied VOC (iVOC) obtained by means of QSSPC (Sinton) on fired bifacial structures before metallization. The VOC drop (VOC-iVOC) was analyzed with respect to the metal coverage fraction. Furthermore, we have done printability test with a dedicated test pattern (see figure 2) in order to observe the metallic paste behavior and to identify the resistive losses. The contribution of each component (busbars, fingers, contact resistance) in the resistive loss was evaluated.

Finally, modulations in the metal coverage fraction thanks to screen with different numbers of fingers (from 75 to 95 Figure 4: VOC scan for a solar cell with contacting lines) were done in order busbars (left), floating busbars (center) and without to evaluate the fill factor busbar (right) (FF) and Short circuit 4.1. Recombination losses current (Isc) variations coming from the The printed metal fraction plays an resistive and shadowing losses respectively. important role in the VOC losses as the metal Each screen variation was evaluated for three different boron emitters (50Ω/sq, 60Ω/ contaminant act as recombination centers. sq and 70Ω/sq).Printing modulations are As a first observation, VOC scans were summarized in figure 3. made in cells without metallization on the back side to obtain a complete mapping of the as given in figure 4.

4. Results and discussion

Figure 5: Drop in VOC for different front metal fraction in function of the emitter

Figure 3: Summary of the printing modulations

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Using this mapping, it was clearly found that the most critical area involved in VOC losses are under the busbar region where a significant loss of 15mV is observed. In order to limit this important loss, the front side of the wafer was metalized using a dual screen printing method, meaning the grid lines with a contacting paste in a first step and the busbars with a fritless paste in a second step. This way, we were able to recover an important part of the VOC losses. Indeed the busbars represent around 40% of the metal coverage of the H-grid pattern. We obtained comparable VOC scan values for solar cells with floating busbars and without busbars. In a second step, n-type bifacial solar cells were fabricated using this dual print technique for two different emitters (shallow emitter: 70Ω/sq, deep emitter: 50Ω/sq) and different grid lines numbers (from 75 to 95 lines). In figure 5, we can see a VOC gap of 4mV between deep and shallow p+

by means of an analytical model adapted to bifacial solar cells and taking account the contributions of contact and emitter resistances. Line resistances were measured by means of TLM (Transmission Line Method). The contribution of each part was evaluated for the front and the back side of the bifacial solar cell. The results are presented in the Figure 6. The most important loss was found to come from the front side grid line resistance with a contribution of 34% of the total resistive losses. The resistance loss is mainly influenced by the aspect ratio of the fingers. As a fast and simple way to provide a convenient value of the front grid lines resistance, the resistance between busbars (RBB) was measured just after the firing step [8]. In figure 7, we can see a decrease of around 20mΩ/% of the RBB values when the metal fraction is increasing from 2.4%

Figure 6: Distribution of the resistive contributions

emitters having the same metal fraction. It means that the VOC losses cannot only be linked to the metal fraction. This gap is explained by a more effective shielding effect of minority charge carriers to the metal contact as suggested by Edler [7].

4.2. Resistive losses The resistive losses were evaluated

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August 2014

So, the RBBmeasurements can be used as a tool to predict the losses in FF and help to optimize the printing in order to obtain the best solar cells.

4.3. Optical losses The maximum current generated in a silicon wafer is mainly limited by the optical losses. In case of bifacial silicon solar cell, the most important contributor of these losses is the shading coming from the front side metallization. Further investigations were made to optimize the grid lines pattern in order to minimize the metal coverage and therefore increase the generated current. Printing modulations with three different grid lines numbers (from 75 to 95 lines) were used in

Figure 8: Drop in fill factor vs. Rbb, the resistance between busbars

to 3.4%. These RBB values were used to optimize the printing step in order to get the best finger’s aspect ratio and so the lowest line resistance. Furthermore, these RBB measurements were correlated to the FF drop (ΔFF= FFpFF) using the pseudo-FF values obtained by

Figure 7: Influence of the metal fraction on the RBB values 48

Suns-VOC measurement (Sinton). As shown in figure 8, theRBB increase leads to a more important FF loss.

order to quantify the loss in Isc related to the metal fraction. This Isc loss was associated to the FF drop (see figure 9) in order to find a range of metal fraction leading to the best Isc and FF. Figure 9: Evolution of Isc and FF

Figure 9: Evolution of Isc and FF depending of the metal fraction

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house measurement) as shown in table 1.

Table 1: Electrical performances of the best cell

depending of the metal fraction

5.

Conclusion

In this paper we have presented an industrial n-type bifacial solar cell concept. Using this concept, solar cells with different emitters and different front side layouts were fabricated in order to quantify the different electrical (resistive, recombination) and optical losses which limit the bifacial solar cells efficiency. First, we have shown that using both floating busbars and deep p+

emitter will improve the Voc values. Secondly,we determined the relationship between the line resistance and the aspect ratio and found out the way to reduce the FF losses keeping high enough Isc values. Indeed, a reduction of the front side metal coverage will increase the VOC and Isc but is responsible of the FF drop relative to higher series resistance[9]. In this work, we determined the optimal metallization conditions which allowed us to achieve efficiencies higher than 20% (in

To Further improve the bifacial n-type silicon solar cell efficiency, additionalinvestigations are underway (double printing, electroplating) in order to enhance the finger’s aspect ratio while keeping the metal fraction constant.

Acknowledg-ments: This research work received the financial funding from BPI France to support the French Monoxen project. The authors would like to thanks KOENEN GmbH and ASYS group for their support in this work.

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EQ SOLAR Leadership Summit Friday August 01 , 2014 | 9 AM to 6 PM Hyatt Regency, New Delhi

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POST SHOW REPORT

Conference Topics • Vision of the Newly Elected Government under Hon’ble PM Shri Narendra Modi Ji • Upcoming 1500 MW Solar Tender by NVVN under JNNSM PII B2 • 1GW Solar Park in Telangana by SECI & Telangana SIIC (TSIIC) • Ultra Mega Solar Project of 4000 MW in Rajasthan • Ultra Mega Solar Project in Jammu & Kashmir • MOU Between SECI & AAI for Solar Installations at AAI’s Airports

• Jawaharlal Nehru National Solar Mission (JNNSM) Phase II, Batch 1 • Proposed Anti Dumping Duty on Imports of Solar Cells/ Modules in India • Solar Manufacturing in India, Challenges & Way Forward • Solar Off Grid & Solar Roof Top Market in India • Technology, Financing & Investments in Solar • Policy & Regulatory Matters, RPO/REC Issues • Scope of Solar in Solving Delhi’s Power Crisis



Conference PHOTOS

Mr Tarun Kapoor, Joint Secretary, MNRE addressing the summit

Token of thanks presented to Mr Tarun Kapoor, Jt Secy., MNRE by Mr Anand Gupta, CEO, EQ Int’l & ED Emami Power

Mr A K Maggu, GM, NVVN presenting on the guidelines on the upcoming 1500MW tender under JNNSM P2 B2 under bundling scheme

L-R - Mr Sachin Jain, Associate Director - Sales & Markets, KPMG; Mr Pankaj Sinha, Investment Officer, IFC; Mr Phuntsok Wangyal, VP, SBI Capital Markets Ltd; Mr Suneil Ramesh, Associate Director, Energy & Natural Resource Practice, CRISIL



Conference PHOTOS GOVERNMENT PANEL

L-R - Mr Tarun Kapoor, Jt Secy., MNRE; Dr Ashvini Kumar, Director, SECI; Mr A K Maggu, GM, NVVN; Mr S R Mohanthy, Additional Chief Secretary, Planning & Renewable Energy, MP; Mr E V Narasimha Reddy, ED(N), TSIIC; Mr R K Tandon, CMD, Hindustan Salts; Mr A K Jain, MD, REIL DEVELOPER PANEL

L-R - Mr Gaurav Sood, MD, Solairedirect Energy India Pvt. Ltd.; Mr Sunil Jain, CEO & ED, Hero Future Energies Ltd.; Mr Gyanesh Chaudhary, MD, Vikram Solar Pvt Ltd; Mr Rupesh Agrawal (Session Moderator), VP, E&Y; Mr Ravi Khanna, CEO, Aditya Birla Solar; Mr Kishor Nair, President, Welspun Renewable Energy Pvt Ltd.; Mr Ankur Kumar, Head - Business Development, ACME Solar Energy Pvt. Ltd. TECHNOLOGY & FINANCE PANEL

L-R - Mr Kishor Sharma, Bonfiglioli Transmissions Pvt. Ltd; Mr Puneet Banga, CEO, Ingeteam India, Mr Dheeraj Malani, Business Development - Solar, L&T; Mr Sachin Jain, Associate Director - Sales & Markets, KPMG; Mr Pankaj Sinha, Investment Officer, IFC; Mr Phuntsok Wangyal, VP, SBI Capital Markets Ltd; Mr Suneil Ramesh, Associate Director, Energy & Natural Resource Practice, CRISIL MANUFACTURERS PANEL

L-R - Mr Suman Kumar, Sun Edison Solar; Mr Nimish Jain, Country Manager, Jinko Solar; Mr Narendra Surana, MD, Surana Ventures Ltd; Ms Natalie Obiko Pearson, Bloomberg Delhi Deputy Bureau Chief; Mr Santosh KM, MD, Enerparc Energy Pvt Ltd; Mr Prashant Mathur, Vikram Solar Pvt Ltd; Mr Vinay Shetty, Country Manager, Canadian Solar



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RESEA RCH & A NA L Y SI S

White Paper On Power Sector In Andhra Pradesh

P

ower sector is a critical in f r a s t r u c t u r e element required for the smooth functioning of the state economy. An efficient, resilient and financially robust power sector is essential for growth and poverty reduction. The availability of reliable, quality and affordable power helps in the rapid Agriculture and Industrial development and the overall economy of the state. The objective of this white paper is to provide an understanding of the dynamics of the power sector in Andhra Pradesh, various challenges being faced by the power sector which has aggravated due to recent bifurcation of state, analyze the underlying causes and propose proactive measures to address the issues plaguing the Andhra Pradesh power sector.

Introduction The Government of Andhra Pradesh was one of the pioneer states to initiate the power sector reforms in 1998. The erstwhile Andhra Pradesh State Electricity Board (APSEB) was unbundled into six entities to focus on the core operation of Power Generation (APGENCO), Power Transmission (APTRANSCO) and Distribution (APDISCOMS). Significant amount of investments were made for building up Generation capacity, strengthening Transmission and Distribution network, industrial feeder segregation, loss reduction and improving quality of power supply. As a result of various initiatives that were taken up during the reform period (1998-2004),

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energy deficit was brought down to a mere 1.5 % as compared to all India energy deficit of 7.1 % during FY 2003-04. CRISIL had ranked AP state as No. 1 in 2003 among all the states based on the performance parameters for the power sector. Since 2004, the performance of the power sector in Andhra Pradesh did not keep up pace with development in other sectors. The generation and transmission capacity addition in the state has not been commensurate with the increase in energy demand. The lack of capacity addition was a result of various reasons like long lead time in setting up power plants due to delay in getting the required clearances, delay in allocation of fuel (coal and gas) and lack of integrated planning involving all the three arms of power sector – Generation, Transmission and Distribution. This resulted in an increased energy deficit in Andhra Pradesh over the years (17.6 % in FY 2012-13) The bifurcation of the state has only increased problems of the power sector in Andhra Pradesh due to allocation of power based on consumption of FY 2006-07 instead of allocation as per geographical location or population criteria resulting in severe power deficit in the residuary Andhra Pradesh. There is an urgent need to come out with a detailed roadmap of the steps to be taken to address the issues of the power sector in the state. A short to long term planning is required for augmenting the power capacity commensurate with the increase in demand by having a common integrated planning framework involving the three arms of the power sector. This would help the state to provide uninterrupted 24 hours power supply

to Domestic and Industrial consumers, provide quality 9 hours power supply to Agriculture consumers, harness Renewable energy potential, promote Energy conservation and make APDISCOMS customer centric organizations by ensuring quality, reliable and affordable supply to all consumers.

Evolution of Power sector in Andhra Pradesh from 1996 to 2004 Andhra Pradesh Electricity Reforms Act of 1998 The Government of Andhra Pradesh (AP) in 1996 had set up a high level committee to look into ways and means to improve the performance of power sector. Based on the recommendation of the committee the Government enacted the Andhra Pradesh Electricity Reforms act of 1998. Under the Act APSEB was unbundled into APGENCO and APTRANSCO in February 1999. In April 2000, the APTRANSCO was further unbundled into a transmission company and four distributions companies (DISCOMs), Eastern Power Distribution Corporation of AP Ltd (APEPDCL), Southern Power Distribution Corporation of AP Ltd (APSPDCL), Central Power Distribution Corporation of AP Ltd (APCPDCL) and Northern Power Distribution Corporation of AP Ltd (APNPDCL) managing distribution in four zones of the State. Until 1998, State electricity boards had the power of fixing tariffs for power purchase. As part of the AP Reforms Act, Andhra Pradesh Electricity Regulatory Commission (APERC) was set up as an independent and

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autonomous body to regulate the business of electricity including tariff fixation and create an environment for dynamic and equitable growth of the electricity sector in the State. The state was sanctioned a $1 billion loan by World Bank in 1999 as part of the Andhra Pradesh Power Sector restructuring Program (APPSRP) for undertaking various initiatives in the power sector. The following were the various initiatives taken up by the State Government from 1994-2004

n Increase in Installed capacity and Power Generation The installed capacity in the state increased from 5,634 MW to 10,695 MW over the period FY 1993-94 to FY 2003-04 (90% increase).

n 100% capacity allocation of NTPC Simhadri Stage-I (2X500 MW) Due to efforts of the State Government, 100% capacity of NTPC Simhadri Stage-I (2X500 MW) was dedicated to the state of Andhra Pradesh in 2002.

n Increase in PLF of Thermal stations The Plant load factor (PLF) of Andhra Pradesh thermal plants had increased from 68.7 % in FY 1994-95 to 86% in FY 200304 which was the best in the country.

Initiatives l

Industrial feeder Separation

l

All industrial feeders (> 11 kV voltage level) were separated into either dedicated or express feeders to ensure uninterrupted quality supply

l

Responsibilities were assigned to ADE/DE to monitor feeder wise losses, collection, quality etc.

l

Energy audit & Metering

l

Better metering of feeders, especially the 11 KV feeders and agricultural feeders to accurately segregate agriculture usage and T&D losses.

l

100% metering was achieved at interface points

l

High accuracy meters installed by distribution companies for High value customers

l

Spot billing machines were introduced

l

To read the consumption on monthly basis, to inspect the status of the

n Reduction in Power Deficit The average power deficit reduced from 11.6% in FY 1995-96 to 1.5% in FY 200304 in spite of the fact that the Agricultural consumers were supplied power for 9 hours daily till Rabi 2003. The major reasons for the steep reduction in energy deficit were improved planning, capacity additions and improved availability.

n Reduction in Transmission & Distribution (T&D) Losses The average T&D losses reduced drastically from 36.90% to 23.15% over the period FY 1999-00 to FY 2003-04 due to improved metering, efficient operations, and regular energy audits undertaken by the government.

n E f fi c i e n c y

I m p r ov e m e n t


meter for further analysis and reduce the time required for billing cycle

n Consumer Analysis Tool (CAT) A robust integrated tool was rolled out to analyze the various inputs to improve overall operation of distribution companies l

l

l

decade from 2004 to 2014 in various key performance indicators as shown below

n Tr a n s fo r m e r i n fo r m a t i o n management system

1. Increase in installed capacity: There was only an increase of 56% in installed capacity from 10,695 MW to 16,917 MW against an increase of 90% (5,634 MW to 10,695 MW) during 1994 to 2004. Even the increase in installed capacity did not materialize fully as around 1,500 MW out of this additional capacity from 2004 to 2014 is lying idle for lack of gas. Further the increase in generation capacity was not commensurate with the increase in demand.

A Transformer information management system was developed which resulted in l

Analyse exception reports such as meter burnout, meters with no seal, meter stuck-up, meter not found

Improved asset tracking, utilization and maintenance

l

Check meter readings of consumers to check the accuracy of meter readers

Improved customer service through deployment of transformers and exception handling

l

Enabled greater visibility leading to improved decision making

Energy audit for all towns/ MHQs

World Bank report on “Implementation Completion Report on a Loan in the amount of US $210 Million to the Government of India for AP Power Sector Restructuring. Report No: 27775

n Monitoring and Audit system (MATS) An IT enabled system was developed and implemented to streamline the functioning of the power sector and reduce response time, resulting in improved customer service to l effectively monitor and track

various issues like theft, mal practice, etc. l

from FY 1995-96 to FY 200304.

Enable process automation to reduce high documentation requirement and loss of records

n Recognition of work done by Government in the Power sector till FY 2003-04: CRISIL report on State Power sector rankings As per the CRISIL report on ranking of states on performance parameters, Andhra Pradesh was ranked No. 1 overall for the years 2003 and second in 2004. The state Power Sector Reforms in Andhra Pradesh : Their Impact and Policy Gaps, Governance and Policy Spaces (GAPS) Project Centre for Economic and Social Studies, 2007 ranked 1st in the individual sub- categories of SERC parameters, financial risk and third in generation parameters. The report noted significant strengths of the sector in AP like l

Strong regulatory processes in place with timely filing of revenue requirement and issue of orders; multi-year framework for tariff setting is being attempted

l

Significant addition to generating capacity in state

l

Sound operating performance of thermal plants (PLF 86% in FY 2003-04, high availability factors)

l

Inter-face metering has been completed

l

Debt servicing of loans has been timely

l

Pension liabilities have been quantified and master trust has been created

n Book consolidation Module (BCM) l

l

Enabled budgeted verses actual comparisons; These reports compared monthly variance between budgeted and actual income or expenses from various account codes Comparative statements; These reports compared income/expense for current month with the previous month or the previous year to calculate appropriate variances

n Investments in infrastructure l

l

60

A total of Rs. 2,426 crores was invested in transmission system from FY 1995-96 to FY 2003-04. This has helped in achieving 99% availability of transmission system in the state and reduction in losses which was the best in the country A total of Rs. 4,986 crores was invested in distribution systems

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August 2014

Key issues of Power sector during the period FY 2004-05 to FY 201314 There was a drastic decline in performance of Power sector during the

2. Plant Load Factor of Thermal Power Plants: Due to proper maintenance, timely overhaul, reduction in time of planned outages and maintenance of adequate quantity and quality of coal, PLF of thermal stations was increased from 68.7% to 86% during the decade from 1994 to 2004. During this period APGENCOs Thermal Power Stations of VTPS, RTPP-I & KTPS- Stage V had the highest PLF in the country. However, PLF decreased to 78% by FY 2013-14 due to lack of adequate quantity of coal and supply of poor quality of coal leading to frequent outages particularly during monsoon season. 3. Coal stock in Thermal Power Plants: Up to 2004, around 1 month coal stock was maintained in all the thermal power plants due to proper coordination with SCCL, MCL and Railways. Monitoring at the highest level of Government ensured that adequate stock of coal was maintained in all the thermal power stations and there was no loss of generation due to inadequate supply of coal. However, during 2004 -2014, the coal stock position in thermal power stations became very precarious. As on today, less than a day’s stock of coal is available in most of thermal power plants. The quantity and quality of coal supplied has come down drastically during the last 5 years resulting in loss of generation. 4. Energy and Peak Deficit: The energy deficit in the state decreased to 1.5% in 2003-04 as against the all India average of 7.1% while it increased to 17.6% during 2012-13 as against the all India average of 8.7%. Similarly, there was no peak demand deficit during 2003-04 as against all India peak demand deficit of 11.2% while the peak deficit increased to 6.5% during 201314 as against all India peak demand deficit of 4.5% 5. Power sector and APDISCOM ratings: AP Power sector was ranked 1st

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in the country by CRISIL during 2003 and APDISCOMS were given “A” rating. AP was a role model and pioneer in taking up power sector reforms. Other states used to follow the AP model of power sector development. However, by 2014, the performance of power sector has declined drastically and APDISCOMS have been given B+/B rating due to financial mismanagement and lack of support by Government. 6. Financial mismanagement of GoAP: The Distribution Utility finances – critical to realizing sector goals deteriorated sharply over 2004-2014. There was no debt burden on APDISCOMS towards purchase of outside power up to 2004. During the last decade, APDISCOMS ended up having a net cumulative loss of Rs. 17,200 Crs. as on March 2014. In order to overcome this financial burden, AP which used to be a pioneer state had to accept the financial bailout package of Government of India and financial restructuring had to be resorted to by GoAP to bail out the sick APDISCOMS. GoAP had directed APDISCOMS to supply 7 hours power to agriculture consumers and maintain continuous supply to other consumer categories. To comply with the directions of GoAP, APDISCOMS had to purchase 57,112 MU from open market during the last decade. However, GoAP did not release adequate funds for purchase of above power and the balance was met by APDISCOMS by taking short term loans from the banks making the financial position of the APDISCOMS very precarious. GoAP also exacerbated APDISCOMS financial difficulties by compelling them to borrow to cover operational expenses. The Ministry of Power report on State Distribution Utilities First Annual Integrated Rating published in March 2013 had noted several concerns regarding APDISCOMS. l

Non receipt of subsidy for expensive power from government leading to high receivables and receivable days

l

Weak coverage of Costs through revenue

l

Weakening of capital structure over the last three years with increasing reliance on short term debt (constituting 88% of debt profile as on March 31, 2012)

The report after carefully considering

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August 2014

the issues, awarded B+/B rating to APDISCOMS. 7. Support by GoAP to Power sector: During the period 1994-2004, 7.8% of Government budget (Non-plan) was allocated to power sector while it came down to a meagre 5% during the period 2004-2014. 8. Increase in tariff: The Cost of Service increased to Rs. 5.25/Unit in 2014 against Rs. 2.55/Unit in 2004. Due to this increase in Cost of Service. Rs. 28,835 Crs. additional burden was imposed on the consumers during last decade. This included Fuel Surcharge Adjustment (FSA) to the tune of Rs. 12,714 Crs. There was a significant increase in tariff for various consumer categories during the period 2004 to 2014 including FSA (Domestic – 93%, Industrial – 94%, Commercial – 86%), while post reforms from 1999-2000 to 2003-04, the tariff hike was around 30% with additional financial implication of Rs. 1500 Crs. on the consumers 9. Improper maintenance of Distribution Infrastructure: There was no proper maintenance of Substations. Feeders, Distribution Transformers, Poles and Wires. Leaning poles, loose hanging wires and improper earthing of electrical equipment have led to around 9, 140 accidents (Fatal7,388, Non-fatal-1,752) during the period 10. Increase in power purchase from private sources: During the decade from 1999 to 2004, only 12% of power was procured from private sources (other than APGENCO, CGS and NCE projects). However, it increased to 21% during 2004-2014. 11. Percentage reduction in T&D losses: Due to monitoring at the highest level of the Government during 1999-2004, the T&D losses were brought down by 14% from 37% to 23%. However, only 8% loss reduction has taken place since 2004. 12. Power Supply Position: During the period 1994-2004, 9 hours supply till Rabi 2003 and 7 hours supply thereafter till May 2004 was maintained to agricultural consumers. However, as on today farmers are facing the brunt of erratic, untimely and poor quality of power supply During FY 2003-04, no power cuts were imposed on domestic consumers while during FY 2013-14 power cuts have been imposed up to 4 hours in Municipal Corporations, 6 hours in Municipalities, 8 hours in Mandal Headquarters and 12 hours in Villages During the period 1994-2004, Industries

were supplied 24 hours uninterrupted power through segregation of dedicated Industrial feeders. From 2012 onwards Industrial consumers were given 12 days power holiday in a month there by hampering economic growth and rendering lakhs of workers unemployed. APERC had to step in in FY 2012-13 to regulate the supply - demand on a day to day basis by imposing Restriction and Control measures on industrial consumers forcing these consumers to cut down their consumption by 40%. Huge penalties up to an extent of 6 times of energy charges (Rs 30/unit) were imposed on industries for any violations. DISCOMs were not allowed to release new or additional industrial loads causing stranded capacities of production and also severe loss to APDISCOMs since industrial consumers provide significant amount of cross-subsidy to DISCOMS. Some of the existing industries shifted their operations from the state and only a few industries are willing to come forward to set up their units in the state due to power supply problem. The lack of reliable power is a leading concern for Industry and a potential constraint to growth. 13. Lack of foresight on part of Government towards power purchase: There was no long term power procurement planned by Government. In the absence of a comprehensive plan, Government did not take any initiative to book the limited transmission corridor available between the NEW and Southern grid. The entire transmission corridor was booked in advance by neighbouring states of Karnataka and Tamil Nadu. As a result, APDISCOMS were forced to buy power at higher cost from Southern regional generators and lost the opportunity to avail power at a much cheaper rate from NEW grid. Power was procured up to Rs. 13/unit during 2008-09 resulting in higher electricity costs for consumers. 14. Non adherence to Standards of Performance prescribed by APERC for APDISCOMS: APERC has laid down Standards of Performance for the smooth and efficient performance of APDISCOMS. It was observed that APDISCOMS have not adhered to the SOP. APDISCOMS have been unable to replace the faulty DTRs within the specified timeline of 24 hours for towns and cities and 48 hours for villages leading to severe inconvenience to the consumers particularly farming community. Farmers have been forced to transport transformers at their own cost. APDISCOMS have not been able to adhere to the timelines for release of

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new Industrial connections thereby losing out on potential revenue and adversely impacting the industrial growth. Currently, there are 1421 Industrial connection applications pending with APDISCOMS for a cumulative capacity of 1580 MVA 15. Lack of Integrated Planning between Generation, Transmission and Distribution: There was a lack of integrated planning between Generation, Transmission and Distribution. The Transmission capacity addition was not in line with the Generation capacity addition resulting in lack of evacuation options for new generating plants. Some of the power plants which were commissioned were forced to remain idle for the lack of evacuation options. 16. Idle capacity owing to shortage of Gas and Coal: The gas based power plants in Andhra Pradesh have seen a consistent decline in generation. The total installed capacity of gas based IPPs having approved PPAs with APDISCOMS in Andhra Pradesh is 2,770 MW. Besides this, additional capacity of around 4,200 MW is available. However, owing to shortage of gas, only about 500 MW of this capacity is operational and generating power. This has led to generation losses to the state totaling about 14,000 MU annually. 17. Failure of Krishnapatnam UMPP

(5X800 MW): Implementation of the Rs. 175 billion Krishnapatnam Ultra Mega Power Project (UMPP) was stalled in July 2011, due to rise in prices of imported coal. 18. Neglect of Renewable energy sector: There was total neglect of Renewable energy sector during last decade despite having huge potential. The addition of Solar and Wind capacity in the state has not been encouraging. The installed wind capacity was only 731 MW as on March 2014 as against the estimated potential of 14,500 MW. Similarly, the installed solar capacity was only 113 MW as on March 2014 despite having huge potential. Capacity addition of renewable energy grew at a CAGR of 66% from 1995 -2004 but only grew at a CAGR of 11% from 2004-2014. During the same period, other states like Tamil Nadu, Maharashtra, Gujarat, Rajasthan and Karnataka have added 7251 MW, 3472 MW, 3384 MW, 2734 MW and 2312 MW respectively in wind capacity. Similarly, states like Gujarat, Rajasthan, Madhya Pradesh and Maharashtra have added 916 MW, 730 MW, 347 MW and 250 MW respectively in solar capacity. This displays the gross underutilization of potential on part of Andhra Pradesh which is today at the bottom in Renewable energy

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as compared to similarly placed states. 19. Non obligation of Renewable Power Purchase Obligation (RPPO) by APDISCOMS: As per APERC Regulations, APDISCOMS are mandated to purchase 5% of their energy consumption (Min 0.25% from solar) from renewable sources. However, less than 2% of energy consumption was met from renewable sources. 20. Failure of Government to get 100% capacity allocation from NTPC Simhadri Stage – II (2X500 MW). The state government failed to get 100% capacity allocation from NTPC Simhadri stage II (2X500 MW) to AP as was done earlier in 2002. Only 46 % (460 MW) capacity has been allocated to AP.

Bifurcation of state – Impact on power sector in Andhra Pradesh The bifurcation of the combined state into Andhra Pradesh and Telangana had an adverse impact on Andhra Pradesh. The allocation of power from APGENCO stations has been done based on G.O. 20 dated 08th May 2014 which has allocated 46.11% of the total capacity of APGENCO stations (Existing & Under construction) to Andhra


Pradesh. This figure was arrived at based on consumption of FY 2006-07. Though the ownership of power stations is with the respective GENCOs based on geographical location, power was not allocated based on geographical location. The allocation of power based on G.O 20 instead of allocation based on geographical location has resulted in a capacity loss of 1,142 MW to Andhra Pradesh as detailed in the table below. This would result in an annual energy shortage of 8,700 MU for the state. The financial impact on the state over the PPA term for meeting this shortfall from open market would be an NPV of around Rs. 10,000 Crs.

it to 9 hours over a period of time l Ensure reliable and affordable power

to all consumers l Thrust for optimum harnessing of

renewable sources of energy l

Monitor and improve customer satisfaction

l Reduce power loss levels to lowest in

the country

Steps to be taken for achieving objectives To meet the key objectives detailed

of 2014

location

2,348 1,760 4,108

2,810 1,670 4,480

- 462 90 - 372

1,291 189 1,480 5,588

2,200 50 2,250 6,730

- 909 139 - 770 - 1,142

Existing

Impact on capacity from Central Generating Stations As per AP Reorganisation Act, power of Central Generating Stations (CGS) should be allocated based on last 5 years consumption (AP – 47.88%). However, the allocation from CGS was done based on FY 2006-07 consumption only (AP – 46.11%). Due to this, AP has lost a capacity of 62 MW which implies an energy loss of around 422 MU per annum.

The Way Forward There is an urgent need to come out with a detailed roadmap of the steps to be taken to address the issues of the power sector in the state. A short to long term planning is required for augmenting the power capacity commensurate with the increase in demand by having a common integrated planning framework involving all three arms of the power sector to achieve key objectives outlined below Key objectives: l Provide 24 hours availability to all

industrial and domestic customers l Provide 7 hours availability to agriculture

sector with a view to gradually increase 64

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P r omo t e E n e r g y Co n s e r v a t i o n / Efficiency l Mandate and Monitor BEE standards l Energy savings campaign driven by

social media outreach Other Initiatives

Capacity loss (MW) from APGENCO stations to Andhra Pradesh As per G.OMs. No20 A s p e r G e o g r a p h i c a l Impact

APGENCO –Thermal APGENCO –Hydel Total (A) Under Construction APGENCO –Thermal APGENCO –Hydel Total (B) Total Capacity (A+B)

encourage renewable energy and exploit the untapped wind and solar potential of the state

in the previous section, the following steps would be taken by the government: Customer focus l Set up call center with toll free

number for timely agricultural DTR replacement l Set up online application tracking

mechanisms through SMS and mobile apps to provide regular status updates to customers

l Rationalization of coal block linkages l Implement agricultural feeder separation

to provide uninterrupted power supply to domestic and industrial consumers in rural areas l Implement industrial feeder segregation

to provide uninterrupted power supply to industrial consumers l Roll out scheme to introduce solar

agricultural pump-sets in close coordination with banks and solar manufacturers l Pilot ESCO programs for agricultural

pump-set replacement l Pilot Smart Grid

Government will ensure that high quality, updated data is publicly available and this data is used for monitoring and benchmarking performance for planning and decision making. The current dearth of consistent, reliable, updated data hampers sound management. A statutory requirement for utilities to regularly collect primary data will be enforced including data on customer satisfaction and state performance with respect to subsidy commitments. Third party monitoring will be encouraged.

l Implement a system to seek IVRS-driven

customer feedback on performance of distribution companies. l Strict adherence to Standards of

performance prescribed by APERC Increasing generation capacity in the state l APGENCO will be encouraged and

supported by GoAP to augment the generation capacity by timely completion of on-going projects and taking up new projects l Procurement of power through

procurement bidding process so as to make AP self-sufficient in power supply Promotion of Renewable energy A comprehensive new Solar and Wind policy would be formulated by GoAP to

Conclusion The Government has accorded the highest priority for development of power sector in Andhra Pradesh. The Government is committed to provide quality, reliable and affordable 24 hours power supply to all domestic, commercial and industrial consumers and 9 hours power supply to farming community. This white paper is prepared in line with the key objectives of the Government for developing power sector and also the short term to long term plans to achieve these objectives. The Government requests all stakeholders and general public to study this white paper and provide their valuable suggestions / comments which would help the AP power sector to become the role model in the country.

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Saumya Bansal Gupta - EQ International

Revenue of $146 million

GAAP earnings of $0.26 per diluted share

Non-GAAP earnings of $0.38 per diluted share

Ended quarter with $130 million in cash

Completed $25 million share repurchase

Advanced Energy Industries, Inc. announced financial results for the second quarter ended June 30, 2014. The company reported second quarter sales of $146.3 million compared with $140.9 million in the first quarter of 2014 and $139.7 million in the second quarter of 2013. Net income was $10.6 million or $0.26 per diluted share. On a non-GAAP basis, net income was $15.5 million or $0.38 per diluted share. A reconciliation of non-GAAP net income and earnings per share is provided in the

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tables below. Based on the current mix of profits between precision power products and inverters, the effective tax rate was approximately 7.7%. The company ended the quarter with $130.2 million in cash and marketable securities, an increase of $7.5 million over last quarter, which included a $25 million repurchase of outstanding shares and the repayment of a revolving line of credit in the amount of $11.6 million. “Even with a downturn in semiconductors, our diversification into a variety of precision power applications drove revenues higher sequentially and generated cash in the quarter,” said Garry Rogerson, CEO of Advanced Energy. “While recent changes in the solar industry have dampened expectations for large utility scale projects, we are taking immediate action to address this overhang. The transition of our inverter manufacturing to Shenzhen and our new organizational structure with a product line focus should provide increased resource flexibility and cost savings. Our strong cash generation of $200 million in the last 3 years is enabling us to invest in product lines that fit our model and diversify our portfolio, while returning value to our shareholders. The business model we have put in place is driving continued success through cyclical peaks and troughs and we remain focused on cash generation, revenue acceleration and margin expansion.”

Precision Power Products Precision Power products sales were $81.8 million in the second quarter of 2014, a 1.3% decrease from $82.9 million in the

first quarter of 2014 and a 14.1% increase from $71.7 million in the second quarter of 2013. The diversification of our precision products largely offset the sequential decline in semiconductors, with particular strength in industrial applications.

Inverters Inverter sales were $64.5 million in the second quarter of 2014, up 11.0% from $58.1 million in the first quarter of 2014, and down 5.2% from $68.0 million in the second quarter of 2013. Revenues rebounded from first quarter with strong shipments of our new products.

Net Income Net income for the second quarter was $10.6 million or $0.26 per diluted share, including approximately $0.5 million of acquisition-related expenses, compared with net income of $14.7 million or $0.35 per diluted share in the first quarter of 2014, and a net loss of $9.8 million or $0.24 per diluted share in the same period last year. On a non-GAAP basis, adjusted net income this quarter decreased to $15.5 million or $0.38 per diluted share from $18.1 million or $0.43 per diluted share in the first quarter of 2014, and increased from $13.9 million or $0.35 per diluted share in the same period last year.

Third Quarter 2014 Guidance Pending the resolution of the tariff, the company expects inverters to continue to be pressured. Based on this, guidance is within the following ranges: •

Sales of $130 million to $140 million

Earnings per share of $0.22 to $0.30, excluding restructuring charges

Non-GAAP earnings per share of $0.30 to $0.38

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SO L A R P V I NV ERT ERS

Advanced Energy: Pending The Resolution Of The Tariff, The Company Expects Inverters To Continue To Be Pressured


CO V ER ST O RY

Three Years of Nuevosol; The Journey of Mounting Structures. Srujan Yeleti, Head - Business Development, Nuevosol Energy Private Limited.

N

uevosol completes three years of operations this September. This milestone is definitely worth rejoicing about, but we at Nuevosol believe that the journey we’ve endured to achieve it is worth sharing. Our entrepreneurial experience of optimizing mounting structures has always been subject to a rapidly changing and challenging Solar Energy sector, but a strong design-oriented approach and the willingness to adapt and deliver has always helped us tide over these challenges. We’ve been ready witnesses to the paradigm shift that the value chain of mounting structures, consisting of manufacturers and contractors, has undergone. These changes have been all-encompassing and not just limited to procedural changes or improvements in infrastructure. Mounting structures have officially emerged from excessively conservative, cost-ineffective designs and have become more liberal and open to experimentation. Nuevosol takes specific pride for having contributed to this process and, in most cases, for sowing the much necessary seeds that have shaped the sector into what it is currently.

Era of Incentives and Imports; Urge to Localize. Necessity is the mother of invention. Nuevosol, was essentially born out of an urgent necessity for localization of the engineering involved in design and execution of solar power plants. When the solar mission in India was launched the industry was entirely dependent on imports. While import of modules and electrical equipment was inevitable, an abundance of indigenous engineering experience and a matured steel industry rendered the import of structures cost ineffective and avoidable. There had been instances when entire steel structures were imported. This was still viable at that time because the industry was majorly driven by subsidies and incentives put in place by prevalent policies. In hindsight, these incentives were so luxurious that they acted as a hindrance to innovation. While the industry was still reasonably comfortable with imports for smaller sized power plants, there was a strong urge to localize 66

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the manufacturing for large-scale projects. International conglomerates saw this as a lucrative avenue in the making. They would start by selling their designs directly to clients, and then eventually establish a vendor base around the country that could manufacture those designs in order to flood the sector and cement their foothold in the Indian mounting structures industry. Unbeknownst to them, a few barely-out-of-university engineers had similar ideas, the difference being – the young engineers possessed an indigenous cost-effective design, the kind of design that could produce mounting structures at a minor fraction of what the international conglomerates would quote. And thus began Nuevosol in September 2011.

Thinking beyond the conventional; Optimize and not Compromise. To design and produce indigenous structures meeting all the design requirements of a power plant, yet optimized to be financially and operationally feasible – this was the lone objective of Nuevosol. Nuevosol believed in grid parity, and in optimization of solar power plants on multiple fronts to achieve grid parity. While most experts were insisting on incentives and lowering of module prices with falling dollar value to make grid parity feasible, Nuevosol has taken up the challenge to optimize structures to the best possible extent and contribute its share towards achieving achieve grid parity. Nuevosol’s main tool to achieve this is optimization of mounting structures in multiple fronts, which will in-turn optimize the BOS to reduce the overall cost incurred. But to optimize, one has to think beyond the conventional, which is almost always met with resistance and then hesitance. Nuevosol’s optimized designs found much resistance from the conservative quarters who relied on outdated norms and standards, which made the structural design over-redundant and overtly safe. The main reason behind this conservativeness was the lack of an Indian solar structures-specific design standards and codes. Most European countries possessed solar industry-specific design standards and a majority of the credit for proliferation of the solar sector in Europe

can be attributed to this very initiative. Lack of solar-specific design experience in the Indian industry necessitated an excessive dependence on construction codes for buildings with very high factors of safety, which are non-essential for design of mounting structures. Not just the safety factors but the material usage, galvanization coating thickness, foundations used etc were so redundant that the structures had become economically unviable. What the industry needed was lakhs of modules to be mounted in a limited area, on structures that can be handled by a human being, albeit with safe foundations and an ability to withstand strong winds and quakes. What were being built were bulky structures that were being designed to withstand an improbable Armageddon, and were impossible to mount without heavy mechanical assistance. At this juncture Nuevosol, stuck to its motto of optimization and worked unrelentingly towards educating the industry on how solar mounting structures can be optimized by moving away from a conservative mindset. By mid 2012, the industry was more welcoming to the usage of the optimized structures and realized that they were the way forward. Newer material like pregalvanized steel were introduced, newer section profiles of C-sections, L Brackets were introduced to ensure the structure cost goes down considerably while the durability is not compromised. This tide of change, where optimization was encouraged and incentivized provided the key boost to Nuevosol, and provided it with some of the most challenging and first-of-their-kind projects in India.

Bigger, Faster and Better- Setting the Standards Solar mounting structures designspecific standards have not yet been framed or published till date. But as the industry started to mature a set of standards emerged which were acceptable to most firms. Nuevosol played a key role in setting these design standards. The process involved setting these standards in line with the optimization objectives. Optimization of structure design

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for cost saving was the first objective, which Nuevosol successfully achieved and in doing so the industry consciously progressed towards a complete paradigm shift in material usage. It went from usage of 100 micron coating thickness to pre-galvanized 550 GSM steel, from using reinforced concrete foundations to insert – post foundation designs. This gave a major boost to innovation at Nuevosol. Starting Mid 2012, the solar industry witnessed a major growth in business, with mega power plants forming the portfolio of major European and Indian EPC firms who started early to make a mark in the Indian Solar industry. The mega power plants with capacities of 25 MW and above needed to be executed in less than 40 days, for many reasons like policy lapsing or claiming of accelerated depreciation. Though highly experienced with over 10 projects and 30 MWs executed in the first year of operation, this was a mountainous challenge ahead for Nuevosol, which was yet to execute a project of 5 MW or above as on September 2012. Nuevosol now had to train to punch above its weight. This challenge opened up newer avenues for innovation. While continuing the efforts in reducing the cost of structures, a need for multi-frontal optimization was felt to achieve faster and better completion of largescale projects. At Nuevosol we implemented a process, which is design-centric, where there is an integration of manufacturing and installation optimization with that of design optimization. This has been called the Cybernetic Design Process, where there is a free flow of information from geotechnical, manufacturing, installation, and material research divisions to and fro to the design department. This process ensures the structures are designed with features of easy manufacturing and faster installation. These structures designed for easier manufacturing and faster execution, helped Nuevosol execute at a record pace of 100 MWs in a span of 3 months between November 2012 to March 2013, and Nuevosol was trusted by the industry for being capable of designing, supplying and installing mounting structure at exceptional speeds. Nuevosol had earned a reputation for taking up challenges. Anything new, anything big, everything good - had become Nuevosol’s motto.

Many Firsts- Innovation Taking the Lead Exactly a year ago in September 2013, there was a surge in the number of projects being executed all over India. In mounting structures, which involved a lot

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of customization unlike many other off-theshelf items, demand was far exceeding the supply by a large extent. We at Nuevosol, found that optimizing structures for faster manufacturing and easier installation was not the only solution to meet the demand. There were other ways of increasing the output, which needed innovation, testing, validation and certification. There was a need to improve the basic facilities a manufacturing yard consisted of. An effort at optimizing the shop floor, improving the logistics of delivery, streamlining the processes for installation with shrewd project management was required to ensure that the biggest solar power projects India was yet to witness were executed at a record pace. Project management, risk mitigation, and taking the lead to implement stateof-the –art execution techniques was not sufficient to improve the pace of execution. Many projects had targets to be executed at more than 1 MW per day and supply of more than 100 MWs per month. This was a challenge especially with heavy rains in rainy season obstructing work and with extremely hot summers reducing the number of productive work hours per day per individual. Nuevosol felt the need to understand the production and installation bottlenecks. And so, apart from analyzing the need to improve, Nuevosol also brought out solutions to improve production outputs, to instill procedures and to encourage newer installation techniques. Nuevosol in FY 2013 -2014 executed more than 250 MWs. Many of these were the first of their kind that Indian solar industry has seen. Nuevosol introduced four new rooftop products and implemented solutions on more than 50 roofs in a very short span of time. Inclined metallic roof mounting, non-penetrative concrete roof mounting was done on many prestigious buildings. From being the first to follow a bi-directional contour upto twelve degrees to constructing biggest carport structures, Nuevosol was trusted by the biggest EPC firms for taking up challenging tasks. One phenomenal change which the industry has seen was the acceptance of many newer materials other than hot dip galvanized steel. Nuevosol has executed more than 100 MWs with Galavalume, which was a welcome change in the industry mindset. Material research backed by laboratory testing helped Nuevosol to propagate the use of newer materials. With the growth of mega power projects, industry had to resort to acquiring lands at very low prices often ending up procuring

rocky hilly terrains in Madhya Pradesh or sandy soils in Rajasthan. This had adverse effect on project feasibility in some cases due to amount of leveling involved in hilly terrains or the cost of foundations in silty soils. Nuevosol introduced two new concepts in dealing with these challenges. Adapting the structures to the contour in hilly terrains saved the costs involved in leveling and grading activities and was lauded by industry giants as a game-changing move. Over 50 MWs was accommodated across 300 acres of harsh, rocky, hilly terrain. In silty soils, Nuevosol introduced the concept of special foundations and wind tunnel analysis to ensure the layout is optimized for varying windspeeds throughout the layout. Nuevosol had to collaborate with German Institute specialized in this testing activity to conduct these tests. One more important development in this period was the PSU projects taking the forefront. The challenge in executing these projects was to adhere to all the norms while being the lowest bidder, as the norms for design were too outdated or overredundant. At Nuevosol we have always been at the forefront to obtain approvals from certification agencies, for the most optimized structures. Nuevosol acquired approvals for rod foundation, portrait orientation, which were away from the standard norms. It was a trend-setting phenomenon when Nuevosol got approvals for the usage of Galvalume in one of its recent projects for a PSU.

The fight for Righteousness The three major challenges that the mounting structures industry is experiencing currently are the infiltration of quick-fix design concepts with excessive leaning towards cost-cutting, manufacturing bottlenecks due to excise duty uncertainty, and the steady transformation of the industry into an inconsiderate buyers market. Design optimization has widely been accepted in the industry. This has led to a sudden surge in the number of consultants and designers who tend to work under the guise of design optimization, but owing to their limited previous exposure to the sector cut corners in critical areas. The result: longstanding consequences on the longevity of the plant. Every site is unique and mounting structures have to be customized according to the loading parameters that the site is subject to. Adapting a standard design for all locations, although convenient, will progress to an at-loss situation for the client in the longer run. Even a new entrant to the industry

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designs for a 180 kmph wind speed, and has basic knowledge of coefficients k1, k2, k3 and other critical parameters. These very same parameters can easily be manipulated to promote a design as safe, durable and effective on paper. The microscopic defects, however, can be identified only with keen analysis in simulation softwares such as Staad Pro. A design prototype and its visible structural integrity cannot be relied on entirely either, not unless the prototype structure is exposed to windspeeds in excess of 100kmph. A manual calculation of loads by any subject matter expert will conveniently rule out a majority of the standard designs being offered currently in the market. Cost reduction is good and is a definite requirement in a highly competitive growth market. However, cost reduction at the expense of plant longevity will cause longterm damages to the sector and tarnish the reputation of established firms. Nuevosol has remained steadfast in its promise to deliver durability and quality with a clientfirst attitude, and takes pride for having remained clear of ethical grey areas.

A Buyers Market dominated by Supply Constraints. Mounting structures market, which started as sellers market with abundance in supply chain has turned into a buyers market with many bottlenecks in the supply chain. Firstly, a supply constraint has occurred not because of lack of manufacturing infrastructure of required production outputs, but because of a massive bottleneck created by the apprehensions in availing the excise duty credit by manufacturers. There have been instances when crores of excise credit acquired by manufacturers has been put into litigation due to uncertainty in the policy. This has discouraged many new manufacturers from foraying into the solar market and the existing manufacturers are now forced to limit their production targets. Nuevosol has contemplated and planned for setting up its own manufacturing unit, but has not ventured yet due to the prevalent excise credit uncertainty. The change from a seller’s market to a buyer’s market swept the mounting systems industry when a huge number of suppliers and designers infiltrated the market with low quality structures. Many buyers unaware of the rampant design compromises that many of these low-cost designs possess gave-in thanks to the attractive pricing. Overnight, the industry turned into a buyers market 68Â

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with many sellers, though only a few of the sellers were genuinely qualified. Industry has witnessed its share of cases where structures have failed at low wind speeds of 100kmph inspite of being designed, theoretically, to sustain winds in excess of 160 kmph. Nuevosol has received numerous requests for rectification jobs in Rajasthan, where huge damages were sustained by 1-year-old plants owing to defective low-cost designs sold by these mass-marketing firms. A good number of quality testing and certifying agencies have been in practice in solar structures industry and they have been doing a great job of keeping a check on substandard designs. These agencies need to be encouraged and need a firm push to promote them if the industry wants to eventually grow into a process-oriented industry with strong foundations in design and quality. The industry off late has also been subject to a new disturbing trend - unrealistic demands of price reduction amidst rising prices of raw material, and equally unrealistic demands of project execution with poor planning from buyers. In the past three years the raw material prices have gone up by more than 20% while the cost of structures have been reduced by more than 40%. Unless the buyer understands that there is a limit to optimization with increasing raw material costs, the industry will not be rid of undue price wars. Similarly, while there has been a demand for executing projects at a great pace the various responsibilities of the buyer are generally neglected and undue execution targets are demanded for. Delays in procurement of MNRE Exemption certificates, and protracted delays in cash flows will eventually lead to delays in project execution. Buyers are the primary stakeholders and they stand to lose the most in case of project delays. Developers need to encourage frequent, proactive all-contractor meets for projects in order to ensure that every individual contractor is aware of his deliverables and his/her issues that might halt delivery of the same are voiced out and sorted immediately. The culture of the industry needs to change to a collaborative one from the existing delegate-and-penalize one. Amidst all these hurdles, Nuevosol has remained supportive in achieving the demands of the buyer in meeting super-fast delivery schedules or super-low prices, but both delivery timeline and prices have now reached critical mass. Nuevosol is committed to providing the best support possible to all of its clientele, manufacturers and other stake holders in the industry. All Nuevosol seeks is an environment of mutual trust and

good faith. Our focus has always remained on long-term quality retention and consequent value addition for clients and will remain the same. Rushing a process has almost always led to problems in the longer run, and if the Indian Solar industry has to continue flourishing a massive onus has to be placed on quality of installation rather than the rate of installing.

The Big Picture Ahead Over the past 3 years mounting structures industry has matured by a large extent. Mounting structures are being treated as the backbone of the solar industry. There is a common consensus that mounting structures are the only components in BOS, which can form the pivot to holistic optimization of the complete power plant. It has been widely accepted that the quality and life of the power plant lies in the design and installation of mounting structures and the viability of the power plant lies in cost of and speed of the installation. Nuevosol, in the past 3 years executed 450 MWs of turnkey mounting structures, with over 75 projects in 15 states. The projects ranged from below 1 MW to above 50 MW, and encompassed a variety of technologies, soils, foundations and unique challenges. Throughout this experience the main objective remained unchanged improving and emphasizing the importance of mounting structures and sharing the knowledge to the community, which had to be educated to bring in a much-necessary paradigm shift in its thought process. A number of solar manufacturing facilities and installation contractors, who were trained for the continuously-changing industry standards and expectations, were incubated and nourished under the protecting gaze of Nuevosol. All of them are an extended family for us and together we stand capable of delivering the biggest projects in the coming future. Nuevosol has been striving and will continue to strive relentlessly towards a more ideal, mature, process-oriented industry that accepts innovation and optimization of mounting structures as the necessary crux to achieving and retaining grid parity. There is a lot more that needs to be done and we are not ready yet to rest on our laurels. (The opinion and perspectives expressed here are my own and do not necessarily represent the postings, strategies or opinions of Nuevosol Energy Pvt Ltd.)

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India's Largest Exhibition and Conference for the Solar Industry Bombay Exhibition Centre, Halls 5 and 6 Mumbai Intersolar India is your gateway to one of the most promising solar markets in the world. Network with over 8,500 potential business contacts from the Indian solar industry Stay up to date with the latest trends and technological developments Boost your brand visibility with an established B2B event


QUA RT ER RESUL T S

Renesola: High Growth Potential In The Commercial And Retail Markets Across The International Target Markets Saumya Bansal Gupta - EQ International

Financial and Operational Highlights for Q2 2014 •

Total solar module shipments were 498.7 MW, compared to 434.1 MW in Q2 2013 and 521.1 MW in Q1 2014. Total solar wafer and module shipments were 698.3 MW, compared to 849.3 MW in Q2 2013 and 710.1 MW in Q1 2014.

Net revenues were US$387.1 million, compared to US$377.4 million in Q2 2013 and US$415.0 million in Q1 2014.

Gross profit was US$56.9 million with a gross margin of 14.7%, compared to gross profit of $30.4 million with a gross margin of 8.0% in Q2 2013 and a gross profit of US$44.0 million with a gross margin of 10.6% in Q1 2014.

Operating income was US$10.6 million with an operating margin of 2.7%, compared to an operating loss of US$16.6 million with an operating margin of negative 4.4% in Q2 2013 and an operating loss of US$8.7 million with an operating margin of negative 2.1% in Q1 2014.

Net income attributable to holders of ordinary shares was US$0.8 million, representing basic and diluted income per share of US$0.00 and basic and diluted income per American depositary share (“ADS”) of US$0.01.

Cash and cash equivalents plus restricted cash totaled $218.8 million as of the end of Q2 2014, compared to US$405.8 million as of the end of Q2 2013 and US$214.9 million as of the end of Q1 2014.

Net cash outflow from operating activities was US$40.6 million, compared to net cash inflow from operating activities of

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US$65.5 million in Q2 2013 and net cash outflow from operating activities of US$112.3 million in Q1 2014. “We are proud to report that ReneSola recorded a profitable second quarter with a gross margin of 14.7%, beating consensus and our guidance,” said Mr. Xianshou Li, ReneSola’s chief executive officer. “Our quarterly results stemmed from fundamental improvements to our business operations as well as a differentiated and competitive global-centric business model, which we expect will lead to stronger results for the rest of this year.” “The current international business environment for Chinese solar manufacturers is becoming more challenging, with an increasing number of trade cases in different regions around the world. However, having positioned ourselves as a global player, we are able to leverage our differentiated business model, which comprises robust and localized international operations and an extensive international manufacturing network through our OEM partnerships across the globe and generates 1.1 GW of module capacity from 11 factories in 7 countries. Our globalized structure enables us to adapt to demand changes quickly, be they the result of market forces or changes in trade policies. Continued investment in our global network has yielded new client wins and industry recognition for our wide range of solar products.” “Our cost-reduction efforts have been successful in both our internal domestic and international OEM operations, helping us to achieve industry-competitive gross margins during the quarter. This was aided by our fully operational, in-house polysilicon production capabilities and a more efficient process control. Going forward, we will make

efforts to further reduce our production cost and to improve our profitability.” “We continue to see high growth potential in the commercial and retail markets across our international target markets. With our extensive and expanding global network, we expect increasing opportunities among commercial and retail markets with comparatively higher ASPs and better payment terms. With already more than 1,800 clients across 77 countries worldwide, we will continue to aggressively grow this large client base in the second half of this year and to provide a full suite of ReneSola-branded solar and renewable energy products to our rapidly growing and more retail-focused client base.” Mr. Daniel K. Lee, ReneSola’s chief financial officer, commented, “The second quarter results demonstrate the effectiveness of our global business infrastructure to deal with the solar industry’s increasingly complex trade dynamics and to position ourselves favorably for a sustainable, balanced and diversified revenue mix. Our international strategy is in line with our prudent financial approach and asset-light operating strategy. We expect to continue to expand our international platform and improve our financial metrics in the second half of the year.”

Second Quarter 2014 Results

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Net Revenues and Gross Profit

efficiency rate 0.15% higher than the A++ wafer. The Company continues to obtain applicable certification for its inverters across several international markets, including the United States, Italy, the United Kingdom, and Australia. The Company has completed research and development for three more energy storage system product lines and currently features five categories and 11 series of 146 energy storage system products which are all available for purchase. Additional certification across different continents has been completed for three categories of the Company’s LED products, including bulbs, indoor lighting and outdoor lighting.

Net Income Recent Business Developments • In August, the Company announced that ReneSola UK will supply 22 MW of its high-efficiency polycrystalline Virtus I and Virtus II solar modules for use in two groundmounted, utility-scale projects in the United Kingdom.

Degradation, and Humidity-Freeze. • In July, ReneSola announced the delivery of 30 ReneSola Novaplus 2KW energy storage systems to a national distributor in Chelmsford, England for onward sale to Essex installation company Think Green Energy. An additional 10 units were on order for use by Think Green Energy customers in the southeast of England. • In July, the Company announced it had entered a framework agreement with China Seven Star Holdings Limited regarding a partnership in potential sales to China Seven Star of no less than 200MW of existing and new PV projects within 18 months. The parties subsequently signed a Memorandum of Understanding that stipulates ReneSola will sell to China Seven Star two utility-scale projects, both of which are completed and connected to the grid, with a total capacity of 9.7 MW in Bulgaria.

Outlook For Q3 2014, the Company expects its total solar module shipments to be in the range of 530 MW to 550 MW, and its gross margin to be in the range of 15% to 17%.

Geographic Breakdown of Module Shipments

Research and Development During Q2, ReneSola continued to invest in research and development regarding the Company’s new and existing green energy products. Mass production was achieved for the Company’s A+++ wafer, which has an average

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In July, the Company announced its industry-leading results in a series of reliability tests conducted by PV Evolution Labs (PVEL). The Company’s modules achieved top performance rankings on PVEL’s “PV Module Reliability Scorecard” for 2014 in four testing categories: Dynamic Mechanical Load, Damp Heat, Potential Induced

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QUA RT ER RESUL T S

Canadian Solar Q2-2014: Expects Japan, Canada, China, Europe And The Us, To Remain Healthy Markets Through The End Of 2014 Saumya Bansal Gupta - EQ International

Second Quarter 2014 Highlights •

Solar module shipments were 646 MW, compared to 500 MW in the first quarter of 2014 and to second quarter guidance in the range of 600 MW to 630 MW.

Net revenue was $623.8 million, compared to $466.3 million in the first quarter of 2014 and to second quarter guidance in the range of $560 million to $590 million.

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into an engineering, procurement and construction (“EPC”) agreement with Kingston Solar LP, a solar energy partnership formed by Samsung Renewable Energy Inc. (“Samsung”), for the construction of a 140 MW DC utility-scale solar power plant, which is expected to generate revenue of over C$300 million for Canadian Solar.

Financial Condition – Income Statement Summary

Net revenue from the total solutions business as a percentage of total net revenue was 32.6% compared to 27.4% in the first quarter of 2014. Gross margin was 19.0%, compared to 14.7% in the first quarter of 2014 and to second quarter guidance in the range of 17% to 19%. Net income attributable to Canadian Solar in the second quarter of 2014 was $55.8 million, or $0.95 per diluted share, compared to $3.8 million, or $0.07 per diluted share, in the first quarter of 2014. Cash, cash equivalents and restricted cash balances at the end of the quarter

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totaled $788.3 million, compared to $781.0 million at the end of the first quarter of 2014. •

Net cash used in operating activities was $44.3 million, compared to net cash used in operating activities of $153.7 million in the first quarter of 2014.

During the quarter, the Company closed the sale of one solar power plant in Ontario, Canada to an affiliate of Concord Green Energy valued at over C$60 million.

During the quarter, the Company entered

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, remarked: “Our second quarter shipments and revenue came in above the high end of our guidance led by strong module demand out of Japan, Germany, the UK and the US, as well as progress in the build-out of our utilityscale solar projects in Canada. Gross margin in the second quarter improved significantly to 19.0% compared to 14.7% in the first quarter of 2014, reflecting solid execution of our total solutions business strategy, as well as higher module ASP and shipment volume. We believe we remain one of the solar industry’s best-positioned companies given our diverse manufacturing footprint and

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margin solar module and utility-scale project opportunities in our target markets, and work to build shareholder value.”

Business Outlook The Company’s business outlook is based on management’s current views and estimates with respect to operating and market conditions, its current order book, global and local financing environment as well as uncertainty relating to customer final demand and solar project construction schedule. Management’s views and estimates are subject to change without notice. For the third quarter of 2014, the Company expects module shipments to be in the range of approximately 720 MW to 750 MW. Total revenue for the third quarter of 2014 is expected to be in the range of $760 million to $810 million, with gross margin expected to be between 19% and 21%.

advanced-stage project pipeline in Canada, Japan, the U.S., and China. We are making steady progress in key developing markets in Asia, the Middle East, Latin America and Africa, and we continue to see robust demand for our solar energy solutions products and services across all geographies and market segments.” Michael G. Potter, Senior Vice President and Chief Financial Officer of Canadian Solar, added: “Our second quarter financial results clearly reflect our focus on profitable module sales over module volume and our emphasis on our higher margin total solutions business. Our revenue, MW shipment and net income for the second quarter of 2014 all set quarterly records for the company. This improvement underscores our focus on becoming the industry’s most profitable company. We ended the second quarter with $788.3 million in cash, cash equivalents and restricted cash. This continues to give us a considerable advantage as we pursue higher

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The estimated COD of all of the Company’s late-stage projects in Canada, the US, Japan and China is subject to change without notice as a result of delays in permitting and construction, among other risk factors. The acceptance testing and closing process for projects only starts after COD. Solar radiation levels and other weather conditions may affect the length of acceptance testing. As a result, the transfer of ownership to end customers may not always occur in the same quarter as COD. The Company’s business outlook for the third quarter of 2014 includes the expectation of completion of sales and revenue recognition for at least four utility-scale power projects in Canada. For the reasons noted, however, there is a risk that that actual results may differ from current management expectations. Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, remarked: “Clearly, Canadian Solar remains one of the strongest companies in the solar industry space. We have reached this position by focusing our attention and efforts on maintaining an industry-leading cost position, improving the quality and efficiency of our solar modules, and differentiating our business model

through selective investment in utility-scale solar power project opportunities in low risk regions. Our results for the quarter and guidance for the third quarter are a testament to the successful execution of this strategy. Despite some near-term turbulence as a result of trade disputes and policy uncertainty, we continue to experience strong demand for our products in all key regions and expect reasonably strong global market demand growth during the remainder of 2014. We expect Japan, Canada, China, Europe and the US, among others, to remain healthy markets for us through the end of 2014 and beyond. On the total solutions business front, we expect to continue our steady progress. All but one of our projects in Ontario are now fully permitted, and eight of them are in commercial operation and others are moving well in construction. This gives us confidence that we are well positioned to deliver record results to our shareholders in the quarters ahead. The recent launch of several Yields has increased demand for our solar power

plants and we are already seeing higher prices for our projects. With respect to the possibility of Canadian Solar launching its own YieldCo, we are evaluating options in the context of our existing late-stage pipeline and we expect to be in a position to make a decision by early 2015.”

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QUA RT ER RESUL T S

Jinko Solar: “Continues To Grow Our Presence In New Emerging Markets Such As Chile And South Africa Where We Have Become The Market Leader” Saumya Bansal Gupta - EQ International

Second Quarter 2014 Highlights •

Total solar product shipments amounted to 659.5 MW, consisting of 570.8 MW of solar modules, 54.1 MW of silicon wafers and 34.6 MW of solar cells. This represents an increase of 13.5% from 581.2 MW in the first quarter of 2014 and an increase of 34.8% from 489.2 MW in the second quarter of 2013. As of June 30, 2014, the Company has connected 252 MW of solar projects to the grid and expects to connect another 100 MW of solar projects during the third quarter.

Co., Ltd.’s ordinary shareholders of RMB9.5 million in the first quarter of 2014 and net income attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders of RMB49.0 million in the second quarter of 2013. •

Diluted earnings per American depositary share (“ADS”) were RMB4.04 (US$0.64), compared with diluted loss per ADS of RMB1.20 in the first quarter of 2014 and diluted earnings per ADS of RMB2.20 in the second quarter of 2013.

Non-GAAP net income attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders in the second quarter of 2014 was RMB173.0 million (US$27.9 million), compared with non-GAAP net income attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders of RMB37.3 million in the first quarter of 2014 and non-GAAP net income attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders of RMB74.3 million in the second quarter of 2013. Non-GAAP basic and diluted earnings per ADS were RMB5.60 (US$0.92) and RMB4.88 (US$0.80), respectively, in the second quarter of 2014.

Total revenues were RMB2.4 billion (US$392.1 million), representing an increase of 20.8% from the first quarter of 2014 and an increase of 37.8% from the second quarter of 2013.

Electricity revenues generated from solar projects were RMB61.0 million (US$9.8 million), representing an increase of 26.1% from the first quarter of 2014.

Gross margin was 22.6%, compared with 24.0% in the first quarter of 2014 and 17.7% in the second quarter of 2013.

Income from operations was RMB251.6 million (US$40.6 million), compared with income from operations of RMB203.5 million in the first quarter of 2014 and income from operations of RMB155.8 million in the second quarter of 2013.

“I am pleased to report our fifth consecutive quarter of profitability, as we confidently look towards the second half of the year,” commented Mr. Kangping Chen, JinkoSolar’s Chief Executive Officer. “We gained considerable momentum during the quarter. Total revenues increased 20.8% sequentially and 37.8% year-over-year. We expanded our geographic reach, secured financial support from globally-respected financial institutions for our downstream

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Net income attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders was RMB138.2 million (US$22.3 million), compared with net income attributable to JinkoSolar Holding

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business and solidified our position in important emerging markets where we have made strategic investments such as South Africa and Latin America.” “Our downstream business continued to grow, with revenue from power generation for the quarter increasing 26.1% sequentially to

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RMB 61.0 million. In addition to the RMB1 billion strategic financing agreement we signed with China Minsheng Bank, mainly for our distributed PV generation systems, we secured US$225 million in private equity financing for our downstream solar power subsidiary, from China Development Bank International, Macquarie Greater China Infrastructure Fund and New Horizon Capital, In addition to financing, they will also provide a wide range of support to drive future growth in our downstream business. These agreements demonstrate the growing interest of Chinese capital in the downstream solar market, as China’s solar power regulatory framework matures and rapid market growth is expected. With the added strength of these new partnerships, we revise our full-year 2014 project development guidance upwards from 400MW to above 600MW. We will continue to taking full advantage of our financial and operational resources to further grow our downstream businesses in the future.”

‘Eagle+’ modules as well as smart modules and light-weight modules. By continuing to innovate our products, we are not only promoting our reputation as the industry’s technological leader, but showing customers that we are able to quickly tailor modules to meet customer requirements.”

“We maintained our market leading position in China as we continue to seek out opportunities in new emerging markets. We remain confident that the Chinese market will keep growing following the National Energy Administration’s reiteration of strong support for the solar industry and solar power generation, and particularly distributed power generation. The government is also encouraging local governments to play a larger and more proactive role by offering more support and extra subsidies.”

In July 2014, JinkoSolar partnered with Tsinghua University to build a cell-phone tower along with a microgrid system to provide power to Gonggashan center school and GonggashaYulong West Village School.

“To conclude, I am proud of what we have accomplished and even more excited about our future. Our strong financial position, steady downstream expansion, industry leading technology and diversified geographic presence are all contributing to our robust, sustainable long-term growth and transformation into a one-stop energy solution provider. We will continue to deploy our capital into specific areas of our business in order to increase shareholder value and carry our momentum into the third quarter and throughout the whole year.”

Recent Business Developments

In July 2014, JinkoSolar entered into a five-year RMB1 billion strategic financing agreement with China Minsheng Banking Corp., Ltd.

a total of US$225 million in JinkoSolar’s downstream solar power project business. In August 2014, JinkoSolar opened a solar module factory with annual production capacity of 120 MW in Cape Town, South Africa. In August 2014, JinkoSolar signed a PV project development agreement with the Economic Development Zone of Lishui City, Zhejiang Province, to develop a 500 MW PV power plant with an aggregate investment amount of RMB5 billion. Operations and Business Outlook

Third Quarter and Full Year 2014 Guidance For the third quarter of 2014, the Company estimates total solar module shipments to be in the range of 800 MW to 850 MW, which includes 650MW to 680MW module shipments to third parties and 150 MW to 170 MW for its own downstream projects. For the full year 2014, the Company estimates total solar module shipments to be in the range of 2.9 GW and 3.2 GW, which includes 2.3GW to 2.5GW module shipments to third parties, and 600 MW to 650 MW for its own downstream projects. Full year project development scale is expected to be above 600 MW.

In July 2014, China Development Bank International, the Macquarie Greater China

“Our market share in the US continues to grow with shipments for the quarter increasing 61.3% sequentially. While this is partially due to rush orders, it demonstrates our commitment to and growing customer base in the US market. While our presence in traditional markets such as Europe has remained stable with our large and loyal customer base, we continue to grow our presence in new emerging markets such as Chile and South Africa where we have become the market leader. The recent establishment of our first overseas production facility in South Africa will certainly aid us in enhancing our global production chain and allow us to serve customers across the region with local products. “With the distributed generation market on the verge of entering a phase of rapid growth, we have increased mass production of our high-efficiency, PID-free

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Infrastructure Fund (a fund managed by Macquarie Infrastructure and Real Assets), and New Horizon Capital agreed to invest

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PRODUCTS Excelling the Norm – the cetis PV-Moduletest3 surpasses the IEC 61853-1 standards h.a.l.m. elektronik gmbh features a new hard- and software option cetisPVTherm2-M for their laboratory sun simulator cetisPV-Modultest for solar modules. Frankfurt/Main, July 31st, 2014. h.a.l.m. elektronik gmbh has developed a highly versatile thermo - chamber cetisPVTherm2-M to optimize the overall performance of their standard laboratory IV tester, a ready-to-go class-A+A+A+ rated high precision manual sun simulator system for the IV-measurement of solar modules. Developed for R&D, laboratory, and quality control use, the cetisPV-Moduletest3 in combination with cetisPV-Therm2-M allows to automatically perform irradiance and temperature dependent measurements and energy rating according to IEC 61853-1. Moreover, due to the new hysteresis measurement option, high efficiency high capacitance modules can be measured accurately within a single flash.

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The multifuntional but easy to operate tester includes a thermally insulated test chamber with the additional heating- and cooling-device cetisPV-Therm2-M which is connected with the insulated module test chamber via flexible tubes. The system easily allows driving temperature profiles defined by the IEC norm from 15°C to 75°C while measuring the electrical performance of photovoltaic modules. Driven by fully automated and recipe-controlled data acquisition, temperature coefficients and energy rating according to IEC 61853-1 can be measured very efficiently without operator assistance. Notably, temperature accuracy and temperature homogeneity exceed the demands of the IEC norm by far. With an accuracy of better than ±0.2°C in temperature and ±0.5% in irradiance, the complete cetisPV-Moduletest3 measures the module performance at following conditions specified by

IEC 61853-1: STC (Standard Test Conditions), NOCT (Nominal Operating Cell Temperature), LIC (Low Irradiance Condition), HTC (High Temperature Condition) and LTC (Low Temperature Condition). In addition, the system readily performs at all conditions in between as per customer requirements. Using the cetisPV-Therm2-M, temperature coefficients can be analyzed within less than two hours. The complete package cetisPV-Moduletest3 consists of the cetisPV-XF2-M Flasher, a measuring system cetisPV-CT-L1 with optional cetisPV-EL3-M and an optimized dark chamber construction. The control is embedded into the wellestablished and operator friendly h.al.m. standard software PVControl.

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PRODUCTS pi4_robotics offers new electroluminescent module tester – “Power Loss Estimation“ Determination of inactive areas in multiand mono crystalline pv modules enables the conclusion on current state and above all on power loss to be expected in future. Precondition for all is the reliable automated detection of defects which pi4 has introduced in the market since years.

• Relevance of errors is evaluated automatically • Substantial information to be made for the first time about the expected performance loss of a photovoltaic module Berlin, 1st of August. Counting grid finger defects, cracks or other defects in an electroluminescent image? This must be no more. The fully automated EL inspection of photovoltaic modules is coming of age: EL „Power Loss 1“ – capture the current state of power loss

system solutions are particularly used in such industry sectors as photovoltaics, automotive, glass, medicine and pharmaceuticals, fuel cell manufacturing as well as in the field of ceramics. In the photovoltaic industry pi4_robotics is leading the way with its quality inspection systems based on electroluminescent technology. pi4_ robotics invented the product identification system PV-IDent. On the basis of electroluminescence images of solar panels, this system detects inherent product characteristics and uses them for product recognition. PV-IDent is a registered trademark of pi4_robotics GmbH.

pi4_robotics GmbH, the German EL inspection specialist, wouldn’t longer put up with detecting and counting defects and has developed the pi4_power loss estimation tool which is part of the fully automated EL inspection systems and offers this recently. This tool is able to decide which defects may cause power loss of the module during life time and which defects will not cause much loss of power ever. Especially cracks parallel to the bus bars tend to isolate cell areas (example), whereas cracks parallel to grid fingers will not interrupt current flow to the bus bars.

EL „Power Loss 2“ –Power loss estimation with cell aged, micro cracks turned into active cracks

pi4 EL „Power Loss Estimation is easy to parametrize and works in three steps: Based in Berlin, Germany, pi4_robotics GmbH is one of the leading manufacturers of image processing systems, automatic inspection systems and robots. Currently its

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EL „Power Loss 3“ – Power loss estimation with cell aged, crack and grid__finger error growth assumed

In 2010, pi4_robotics GmbH raised public awareness by introducing its pi4_workerbot. pi4_workerbot is the first humanoid factory worker worldwide that can be acquired by purchase. This product has won inter alia the MM Awards at Automatica 2010, the Tech-Star 2010 at the trade fair ViennaTec, and became a finalist at euRobotics TechTransfer Award 2011. Matthias Krinke, M.Eng., founded the company pi4_robotics GmbH 1994 – at first as a sole proprietorship, which he turned to a limited liability company six years later. Since 1994 its headquarters and manufacturing facilities has been located in Berlin. Currently the company has almost 50 employees working in Germany. Sales and service partners in 29 countries with 43 offices have been representing the company worldwide since 2003.

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PRODUCTS DuPont Microcircuit Materials Adds Two New Solamet® Photovoltaic Metallization Pastes -

Advanced Formulations Designed to Improve Solar Panel Performance and Manufacturers’ Profitability material usage is required with these new materials, resulting in significant savings for manufacturers.

DuPont Microcircuit Materials (DuPont) has added two new products to its leading lineup of frontside silver metallization pastes for crystalline silicon solar cells. DuPont™ Solamet® PV18H and PV18J photovoltaic metallization pastes offer solar cell manufacturers improved efficiency and profitability. “The DuPont™ Solamet® PV18x series offers more efficiency with less material required, and we continue to innovate and build on the series,” said Peter Brenner, global photovoltaic marketing manager, DuPont Microcircuit Materials. “These two newest offerings demonstrate a range of superior technical properties to meet different customers’ manufacturing process requirements. We are excited about rolling them out to our customers globally and seeing very positive results from customer early adoption.” The advanced Solamet® PV18x series products deliver a step change in the power output of solar panels by improving the conversion efficiency of solar cells. This is

DuPont has added two new products, Solamet® PV18H and PV18J, to its leading lineup of frontside silver metallization pastes, offering improved efficiency and profitability for crystalline silicon solar cell manufacturers.

due to proprietary Tellurium technology, which is only licensed and available from DuPont, and has been instrumental in unlocking efficiency gains by more than 0.5 percent by allowing contact to enhanced lightly doped emitters. Compared to industry standard pastes on multi-crystalline solar cells, Solamet® PV18H and PV18J can boost conversion efficiency by an additional 0.15 percent as well as enabling extremely fine line printability down to 35 microns. In addition, up to 30 percent less

Solamet® PV18H further enables excellent contact resistance to enhanced lightly doped emitters on mono-crystalline solar cells to maximize power output. Solamet® PV18J demonstrates superior adhesion performance even with thinner busbars, and improves processing with excellent solderability and a wide solder temperature window. Through continued investment in research, development and intellectual property, DuPont™ Solamet® photovolt aic metallization paste technology has almost doubled solar cell efficiency over the past 12 years and continues to advance the industry. DuPont is the leading supplier of specialty materials to the solar energy industry, with the broadest portfolio of products designed to improve the power output, reliable lifetime and return on investment for solar panels.

BENNING TLS inverters – made in Germany For more than half a century BENNING products have improved the safe and efficient utilization of energy resources. Smart solutions for the conversion of energy in multi-purpose or storable energy draw the company. BENNING is known worldwide as a “quality leader” for reliable and efficient power supplies for the telecommunications, medical and IT industries. The BENNING SOLAR philosophy is to ensure 78

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maximum profitability through sustainable solutions that are environmentally friendly, simple to use and reliable in operation. The sound and rigorous stewardship of our natural resources, together with the return on investment, stands at the center of our focus. Flexibility and efficiency are the characteristics of the three phases,

BENNING TLS series PV inverters, which are developed and produced in Germany. The wide input voltage range from 250V-

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PRODUCTS 1,000V as well as up to three independent MPP trackers simplify the design even with complex roof structures and can increase the system efficiency by 2-3%. One string input can treat an input voltage of 120V-1,000V which allows designing a very short PV string for challenging applications. The powerful inverters provide a huge variety of features like an embedded web server and data logger as well an easy connection to the free BENNING SOLAR Portal. This feature allows a worldwide secure and valuable system monitoring via PC or smart phone. Beside system analyses the portal provides reporting and data export functionalities. The connection is set up easily and can be established without additional communication hardware. All needed interfaces are built in on series.

First class inverter efficiency of 98% is enabled by the use of the highest quality components, intelligently laid out and efficiently cooled. The efficiency curve rises sharply, even with low sunlight and then remains nearly constant. Therefore, good revenues are available even with low solar radiation. The TLS product portfolio contains transformer less photovoltaic inverters from 4kVA to 17kVA output power. All devices have integrated earth fault detection, residual current monitoring and an input isolator. According to the European norm EN61643-11, the inverters are protected against an overvoltage on the input and output by type 3. The IP65/IP54 protected devices are all designed for an outdoor use.

BENNING SOLAR inverters can be manually activated or “plug and play” commissioned. All parameters can be set via either the graphical display, a laptop (RJ 45 Ethernet connection) or USB stick. Rely on Benning Solar for: •

Reliable inverter with integrated data-logger and web server for online monitoring

High efficiency for maximum power yield

“Plug & Play” installation

“Made in Germany” quality

After sales support through more than 20 international subsidiaries

Guarantee from manufacturer

An intelligent value concept

a

German

German technology for the international market: Complying with “local content” guidelines The photovoltaic market is becoming increasingly international, as many photovoltaic power plants are set to emerge in Asia, America and Africa in the coming years. When planning their systems, operators are increasingly looking for technology providers with a flexible value-added chain. This is the only way to comply with the respective region’s “local content” guidelines, so LTi REEnergy offers customers various solutions for inverter production planning. The highperformance PVone technology is a decisive factor in this. A photovoltaic system’s “return on investment” is dependent on several factors – state funding is certainly important for the planners in order to improve the economic return. The electricity generated is often more heavily subsidised if the photovoltaic system components are produced in a regional production plant (“local content”). Against this background, LTi REEnergy has

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PVone is produced as before at the LTi site in Unna, but the cabinet, for example, can be assembled by a partner company.

a flexible value-added model; experts usually build the entire system in Germany, but can change the production process according to requirements and involve local partner companies. The central focus here is LTi’s PVmaster III inverter. Its modular and light design makes the “local content” approach significantly easier; the PVone power electronics with controller card are built as one closed component, which can easily be installed in the PVmaster III cabinet. This again makes it possible to adapt the production planning;

The high quality of the technology is fully retained as this outsourced production uses internationally proven standard components as well as power electronics from Germany. LTi REEnergy’s own experts ensure at an early stage in the project that these partner companies are perfectly equipped for manufacturing. LTi customers benefit from increasing financial contributions and powerful cutting-edge technology which is “made in Germany”. The construction of the PVmaster III also makes servicing considerably easier as the standard components used are readily available worldwide. The modular technology is laid out on one level in the cabinet and can easily be replaced during maintenance. In this way, service costs can be reduced.

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August 2014

79


PV Project Development Africa 2014

2014 Asia Pacific Clean Energy Summit and Expo

Intersolar South America 2014 - Exhibition & Conference

Power Purchase Agreement 2014

Solar Trade Mission: Saudi Arabia

The Fifth IASTED African Conference on Power and Energy Systems

POWER-GEN Asia 2014

Solar Asia 2014

The 6th Guangzhou International Solar PV Exhibition 2014 Date: 26-28Aug 2014 Place: Guangzhou, China Organiser: GRAHW Tel.: +86 20 29188156 Email: grand.ev@grahw.com Web.: www.pvguangzhou.com

Date: 26-28Aug 2014 Place: SĂŁo Paulo, Brazil Organiser: Solarpromotion Tel.: +49 7231 58598-207 Email: engelhard@solarpromotion.com Web.: www.intersolar.net.br

Date: 1-3Sep2014 Place: Gaborone, Botswana Organiser: IASTED Tel.: +1 403 2881195 Email: calgary@iasted.org Web.: www.iasted.org/conferences/home-814.html

Date: 9-10Sep2014 Place: Johannesburg, South Africa Organiser: PV-Insider Tel.: +44 20 73757206 Email: marco@pv-insider.com Web.: marco@pv-insider.com

Date: 9-12Sep2014 Place: Johannesburg, South Africa Organiser: infocusinternational Tel.: +65 6325 0254 Email: lisa.tan@infocusinternational.com Web.: www.infocusinternational.com/ppa

Date: 10-12Sep2014 Place: Kuala Lumpur, Malaysia Organiser: Pennwell Tel.: +44 1992 656 610 Email: exhibitpga@pennwell.com Web.: www.powergenasia.com

Date: 15-17Sep2014 Place: Honolulu, Hawaii, USA Organiser: Techconnect Tel.: +1 978 5611908 Email: cerb@techconnect.org Web.: islandsconnect.com

Date: 14-18Sep2014 Place: Riyadh, Saudi Arabia Organiser: Solarplaza Tel.: +31 10 2809198 Email: info@solarplaza.com Web.: www.solartrademissionsaudiarabia.com

Date: 17-19Sep2014 Place: Kuala Lumpur, Malaysia Organiser: annexhibition Tel.: +86 10 65262861 Email: info@annexhibition.com Web.: www.annexhibition.com/zhanhui_show.

asp?id=181

Intersolar Summit India 2014 Renewable Energy India Expo 2014 Date: 3-5Sep2014 Place: Greater Noida, India Organiser: UBM Tel.: +91 9871 726762 Email: Rajneesh.khattar@ubm.com Web.: www.renewableenergyindiaexpo.com

SEMICON Taiwan 2014

Date: 3-5Sep2014 Place: Taipei, Taiwan Organiser: SEMI Tel.: +886 3 5601777-101 Email: ali@semi.org Web.: www.semicontaiwan.org

Usage Aspects of Alternative and Renewable Energy Sources in Ukraine Date: 7-13Sep2014 Place: Odessa, Ukraine Organiser: UkrSGRI Tel.: +38 44 2063560 Email: confreu@ukrdgri.gov.ua Web.: www.confreu.com.ua/en

Solar & Off-grid Renewables West Africa Date: 16-17Sep2014 Place: Accra, Ghana Organiser: Solarmedia Tel.: +44 20 78710122 Email: sbradshaw@solarmedia.co.uk Web.: westafrica.solarenergyevents.com

Date: 22-Sep-14 Place: Bangalore, India Organiser: Intersolar Tel.: +49 228 9714345 Email: Web.: www.intersolarglobal.com/en/intersolar-

summits/event...

ENERASIA 2014

Date: 26-28Sep2014 Place: Gandhinagar,Gujarat, India Organiser: Tel.: +91 97129 38199 Email: enerasia@praveg.com Web.: www.enerasia.in

For Listing of your Event : Conference and events are listed free-of-charge, so please feel free to get in touch to tell us about your event. We would also be happy to provide you with free copies of magazine for distribution at your events.(while stock last). Please send your conference information to : Mr. Gourav Garg at gourav.garg@EQmag.net

80Â

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August 2014

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6RODU _ :LQG _ %LR _ (QHUJ\ (IILFLHQF\ _ 6PDOO +\GUR _ *HRWKHUPDO _ 6PDUW *ULG Country Pavilions - Canada, Italy, Japan, Taiwan & USA 2I多FLDO SDUWLFLSDWLRQ IURP (XURSHDQ %XVLQHVV DQG 7HFKQRORJ\ Centre, PIEMONTE agency for Investment, Export and Tourism, Government of Catalonia, Spain Panel Discussion by EI Dupont German Key Technology Solution Pavilion Ecobuild & Smart Grid Pavilion PV Installation Training Master Class DQG PDQ\ PRUH

25,000 sqm. of Business Space Interact with more than 500 Exhibitors Over 12, 0000 Trade Visitors expected from across the globe Engage with over 1000 conference Delegates Badge Partner

Business Matching Multiple Workshops Diverse Content Rich Conferences Sessions CEO/CTO Conclaves

Strategic Partner

Supporting Trade Associations

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Supporting Association/Organisation


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