EQ August 2017 Edition by EQ Int'l Solar Media Group

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VOLUME 9 Issue # 8

10 INDIA

Ind-Ra notes low coal stocks at power plants

INDIA

Energy Department Invests $7.5 Million to Improve Electric Grid Reliability and Resiliency

15 INDIA

Regulatory Commissions, Not Courts To Determine Electricity Tariff

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.

August 2017

INDIA

FEATURED

TN to set up Rs 2350 cr solar photovoltaic power park

India’s thermal plants may become economically unviable

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INTERVIEW IN EXCLUSIVE TALK WITH Mr.William Zhou

INTERVIEW INTERVIEW WITH Mr.Pratyush K Thakur

ROOFTOP Golden Temple Kitchen To Soon Go Solar

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ROOFTOP Solar power helps pump up petrol sales amid power shortage

Over 12,000 solar pumps distri-buted to farmers in Chhattisgarh

RESEARCH & ANALYSIS GREENING INDIA’S WORKFORCE

E LECTRIC VEHICLES

Policy & Regulations

When Will Electric Vehicles be Cheaper than Conventional Vehicles ?

Dutch PM lauds India’s commitment to renewable energy, Paris Climate Agreement

Uttar Pradesh Solar Power Policy 2017

EQ NEWS Pg. 09-37 FEATURED

FEATURED

Shri Piyush Goyal Launches Energy Conservation Building Code 2017

Sterling and Wilson Scales New Heights; Gets Awarded the World’s Largest Solar PV Plant

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PRODUCT Pg. 75-77 EQ

August 2017

Capacity

Cover JinkoSolar (NYSE: JKS) is a global leader in the solar industry. The Company distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, US, Japan, Germany, UK, Chile, South Africa, India, Mexico, Brazil, UAE, Italy, Spain, France, Belgium, etc. JinkoSolar has built a vertical-integrated solar product value chain, with an integrated annual capacity of 2.5 GW for silicon ingots and wafers, 2.0 GW for solar cells, and 3.2 GW for solar modules, by December 31, 2014. JinkoSolar has also connected around 500MW of solar projects to the grid, by December 31, 2014. .JinkoSolar has over 13,000 employees and over 200 dedicated R&D professionals covering 11 global branches in Germany, Italy, Switzerland, US, Canada, Australia, Singapore, Japan, India, South Africa and Chile; 12 sales offices in China, Spain, UK, UAE, Jordan, Saudi Arabia, Egypt, Morocco, Ghana, Brazil, Costa Rica and Mexico; and five production facilities in China, Portugal, South Africa, and Malaysia.

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INDIA

World’s biggest coal company closes 37 mines as solar power’s influence grows The largest coal mining company in the world has announced it will close 37 mines because they are no longer economically viable.

oal India, which produces around 82 per cent of India’s coal, said the mines would be decommissioned by March 2018.

he losures, of around 9 per cent of the state-run firm’s sites, will reportedly save around 8,000,000,000 rupees (£98m). India’s solar sector has received heavy international investment, and the plummeting price of solar electricity has increased pressure on fossil fuel companies in the country. The government has announced it will not build any more coal plants after 2022 and predicts renewables will generate 57 per cent of its power by 2027 – a pledge far outstripping its commitment in the Paris climate change agreement. Plans for nearly 14 gigawatts of coal-fired power stations – about the same as the total amount in the UK – were scrapped in May, signalling a seismic shift in the India’s energy market.

Infosys meets 45% power needs from renewables in FY17: Report IT firm Infosys today said over 44.6 per cent of its electricity requirements in 2016-17 were met through renewable sources. During fiscal 2017, 118.90 million units of electricity were from renewable sources, which are about 44.6 per cent of overall electricity requirements of their campuses in India,” Infosys said in its latest sustainability report. The Bengaluru-based firm has also been working on reducing its per capita electricity consumption. It said the per capita electricity consumption has been reduced by 2.88 per cent in 2016-17. Infosys now has 17 LEED platinum-rated buildings, two LEED EB platinum-rated campuses and four buildings with GRIHA 5-star rating, totalling 11.1 million sq ft. These certifications are used to indicate resource efficiency of buildings.

Analyst Tim Buckley said the move away from the dirtiest fossil fuel and towards solar in the country would have “profound” implications on global energy markets. “Measures taken by the Indian government to improve energy efficiency coupled with ambitious renewable energy targets and the plummeting cost of solar has had an impact on existing as well as proposed coal fired power plants, rendering an increasing number as financially unviable,” he said. “India’s solar tariffs have literally been free falling in recent months.” A report in February by Delhi-based research group, The Energy and Resources Institute (TERI), found that if the cost of renewable energy continued to fall at the same rate,India could phase out coal completely by 2050. Source:independent.co.uk

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The report noted that the company has installed 15.2 MW rooftop solar plants and ground-mount installations across its campuses in India. Besides, the company is also working on achieving zero waste to landfill and 100 per cent food waste treatment within its campuses. Currently, 63 per cent of the waste generated is treated in biogas plants.

nfosys has installed 9.25 TPD installed capacity of biogas plants across Mysuru, Bengaluru, Thiruvananthapuram, Hyderabad, Pune, Man galuru and Bhubaneshwar campuses,” it added. During fiscal 2017, Infosys reduced per capita water consumption by 8.33 per cent over the previous year. Source:PTI

August 2017

INDIA

Apple Plans to Move to 100 Percent Renewable Energy in India, CEO Cook Tells PM Modi Apple plans to run all its business in India on 100 percent renewable energy in the next six months, Gadgets 360 has learned. According to sources, this was one of the things that the company told Prime Minister Narendra Modi, who is presently on a tour of the United States.

Ind-Ra notes low coal stocks at power plants

oal availability declined at thermal power stations in April and May, with stock touching critical levels (less than five or seven days) and super critical levels (less than three or four days) at at least eight plants across the country, India Ratings and Research (Ind-Ra) said in its report on the domestic power sector. Coal stock at 113 power plants was 17.73 million tonnes (94 per cent domestic and 6 per cent imported) in May, down by 25 per cent month-on-month.

This is the lowest coal stock inventory in the last 17 months. Analysts note that the inventory at plants reduced due to higher coal consumption, as power generation increased given a sharp rise in demand from several States. At the same time, coal production from Coal India Ltd declined in May by 4.3 per cent year-on-year to 40.7 million tonnes.

Power deficit : Overall, power demand in May 2017 increased by 6.3 per cent compared to May 2016 to 105.5 billion units (BUs). Even after the sharp increase in demand, India was able to manage the power deficit at 0.6 per cent, aided by strong generation growth at 7.3 per cent year-on-year. Power demand increased by around 12 per cent in Maharashtra, 20 per cent in Uttar Pradesh, 12 per cent in Andhra Pradesh, 14 per cent in Telangana and around 11 per cent in Haryana, said the report. IndRa researchers note that while India continues to be coal dependent for power supply, with coal based capacity at around 196 GW by the end of May, the governmentâ&#x20AC;&#x2122;s increased focus on renewable energy led to a decline of the proportion of coal-based capacity from 62 per cent in May 2016 to 59 per cent in May 2017. At the same time, India plans to add around 11.4 GW of thermal capacity in FY18. Of this, 32 per cent was already achieved in April and May, the report notes. 12Â

August 2017

M Modi met with the heads of 20 of the leading US technology firms, including Tim Cook of Apple, Sunder Pichai of Google, and Jeff Bezos of Amazon. According to sources, at the meeting, PM Modi was told that there are 740,000 jobs attributable to iOS, and that Indian app developers have created almost 100,000 apps for the App Store, a growth of 57 percent, in 2016. The company also started production of the iPhone SE in Bengaluru last month, and opened an app accelerator in Bengaluru where the company said it has trained thousands of developers. Now it seems that all of this will be powered by renewable energy. Source: PTI

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INDIA

Prime Minister Dedicates POWERGRID’s 400 kV Lucknow – Kanpur D/C Transmission Line with Associated Bays to the Nation. The Prime Minister Shri Narendra Modi dedicated POWERGRID’s 400 Kilo Volt(kV) Lucknow – Kanpur Direct Current (D/C) Transmission Line with associated bays to the Nation in Lucknow

onstructed as a part of “Northern Region Strengthening Scheme-XXXII”, this transmission line will provide high quality transmission infrastructure for ensuring reliable and quality power supply in Uttar Pradesh especially in the areas like Lucknow, Panki, Unnao and Kanpur. The transmission line will also facilitate import of additional power to Uttar Pradesh from power surplus Eastern Region/ North Eastern Region. On this occasion, Governor of Uttar Pradesh, Chief Minister of Uttar Pradesh and other dignitaries, senior officials of state and central government along with Chairman & Managing Director, Director(Projects), Director(Personnel), Executive Director NR-III and other senior officials of POWERGRID were also present.

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August 2017

INDIA

Energy Department Invests $7.5 Million to Improve Electric Grid Reliability and Resiliency the Department of Energy (DOE) announced an award of $7.5 million for a joint U.S.-India five-year project that will help advance the development of the power grid. The Indian Ministry of Science and Technology and industry partners will match DOE’s commitment, bringing the total commitment to $30 million.

nitiative, supported by DOE’s Office of Electricity Delivery and Energy Reliability builds on the Department’s commitment to fostering the reliable, resilient, and secure delivery of electricity needed for strong U.S. national security, economic growth, and global leadership, as well as furthering DOE’s collaboration with India under the U.S.-India Partnership to Advance Clean Energy (PACE).

This new consortium demonstrates U.S. and Indian commitments to ensuring access to affordable and reliable energy in both countries,” said U.S. Energy Secretary Rick Perry. “We know that continued grid innovation will promote economic growth and energy security in the United States and India.” The U.S.-India collaborative for smart distribution System wIth Storage (UI-ASSIST) was selected as the new consortia for Smart Grid and Energy Storage under the U.S.-India Joint Clean Energy Research and Development Center (JCERDC). To help pave the way to a more advanced distribution grid that will allow for greater use of distributed energy resources, such as microgrids, and energy storage, the new consortia will bring together experts from academia, DOE’s national laboratories, and industry. Together with their counterparts in India, the center will conduct research and deploy new smart grid and energy storage technologies that will modernize the grids of both nations to make them “smarter,” while increasing resilience and reliability.

August 2017

Through JCERDC, U.S world-class installations and national laboratories will contribute their expertise and capabilities as India expands energy access to its remote areas, improves its grid reliability and resilience, and strengthens its energy security. In turn, U.S. participants will gain insight from India’s grid modernization efforts – a potential export market for U.S. equipment worth billions of dollars – as well as promote researcher access to India’s grid operational experience. UI-ASSIST’s American team, led by Washington State University, is comprised of MIT, Texas A&M University, University of Hawaii, Idaho National Laboratory, Lawrence Berkeley National Laboratory, Snohomish County (WA) Public Utility District, Avista, Burns and McDonnell, ETAP Operation Technology, ALSTOM Grid/GE Grid Solutions, Clean Energy Storage, ABB, Philadelphia Industrial Development Corporation, and the National Rural Electric Cooperative Association (NRECA). The India team is led by the Indian Institute of Technology (IIT) Kanpur and includes the partners IIIT Delhi, IIT Madras, IIT Roorkee, IIT Bhubaneshwar, and The Energy and Resources Institute (TERI) New Delhi. Source: energy.gov

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August 2017

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INDIA

Regulatory Commissions, Not Courts To Determine Electricity Tariff

India Will Continue To Cut Generation From Coal Plants, Says Power Minister Goyal

Power Minister Piyush Goyal said on coal operations in India will reduce further as power grids are now sourcing more from renewable energy sources.

The Supreme Court, in Waryam Steel Castings Pvt Ltd vs Punjab State Power Corporation, has reiterated its stand that it would not be proper for the court to examine the fixation of electricity tariff rates or its revision, while dismissing appeals preferred by arc furnace industries in Punjab.

ench comprising Justice Ranjan Gogoi and Justice Navin Sinha was considering pleas against the high court order, whereby it dismissed the challenge questioning the correctness of the quantum/rate of surcharge as determined by the regulatory commission and upheld by the appellate tribunal.

The court reiterated the observations made in Transmission Corporation of Andhra Pradesh Ltd and Anr v. Sai Renewable Power Private Ltd, wherein it was observed: “The only explanation for judicial intervention in tariff fixation/ revision is where the person aggrieved can show that the tariff fixation was illegal, arbitrary or ultra vires the Act. It would be termed as illegal if statutorily prescribed procedure is not followed or it is so perverse and arbitrary that it hurts the judicial conscience of the court making it necessary for the court to intervene. Even in these cases the scope of jurisdiction is a very limited one.” The court further observed that the nature of power exercised in determining tariff under the Electricity Act 2003, is statutory, and it is required to be exercised within the four corners of the relevant provisions of the 2003 Act i.e. Sections 62 to 64 and in accordance with the principles laid down in Section 61 thereof. Source: livelaw.in

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“To support the renewable energy sector, we have lowered coal plant operations from 70 percent to 55 percent. The ministry has decided to drop down the technical minimum for coal-based thermal power plants to 55 percent allowing greater integration of renewable power into the grid,” he said at the release of a study, developed under the U.S.-India bilateral program ‘Greening the Grid’, in New Delhi.

echnical and economic viability of integrating 175 gigawatts (GW) of renewable energy into India’s power grid by 2022, according to the study. India has set at ambitious target of adding 100 GW of solar energy and 60 GW of wind energy into the country’s energy mix by 2022. We will have to be prepared for ramp down of coal to ensure grid stability. Best way to provide a spinning reserve to renewable energy is ultimately hydro. We had an engagement with hydro sector yesterday. Government can support transmission facility. Piyush Goyal, Power Minister Goyal had assured industry leaders from the hydro-power sector at an ASSOCHAM round table discussion on Wednesday that the government can look into the issue of payment security and interest subvention. “We are also considering to recognise hydro as a renewable energy source and once we do that, we would have 20 percent of actual energy consumed becoming renewable in the next 5-6 years,” Source: bloombergquint

August 2017

INDIA

Power demand to soar about 3 times by 2040: Niti Aayog India’s energy demand is likely to soar around three times by 2040, leading to increase in overall primary energy imports, says Niti Aayog’s draft National Energy Policy.

TN to set up Rs 2350 cr solar photovoltaic power park The Tamil Nadu government today proposed a series of new initiatives in various sectors, including energy and power, running into many thousands of crores of rupees.

“To support the renewable energy sector, we have lowered coal plant operations from 70 percent to 55 percent. The ministry has decided to drop down the technical minimum for coal-based thermal power plants to 55 percent allowing greater integration of renewable power into the grid,” Chief Minister K Palaniswami at the release of a study, developed under the U.S.-India bilateral program ‘Greening the Grid’, in New Delhi.

hief Minister K Palaniswami made suo motu announcements using Tamil nadu Assembly rule No 110, often used by former chief minister Jayalalithaa to spell out her government’s various initiatives and measures. Among the announcements made in the energy sector, the chief minister said the government will set up an Ultra Mega Solar Photovoltaic Power Park in Ramanathapuram district at an estimated cost of Rs 2350 crore. State-run TANGEDCO will establish the 500 MW power park on Engineering Procurement Construction (EPC) basis at Naripaiyur and adjoining villages in the district, Palaniswami also announced setting up of nearly 130 new sub-stations & In the Industries sector, the chief minister proposed a Multi-Modal Logistics Park in neighbouring Tiruvallur district. The chief minister also announced that the government will establish three industrial estates– one each in Vellore, Tiruvannamalai and Tiruvallur districts, at an estimated cost of Rs 77 crore, in the current year. Source: PTI

August 2017

raft policy has also revealed that even if efforts were stepped up to enhance domestic energy supply, coupled with heroic effort to reduce energy demand, India’s overall primary energy import dependence could still rise to 36-55 per cent by 2040 from 31 per cent in 2012.

“As per the energy modelling exercise undertaken by the NITI Aayog — India Energy Security Scenarios (IESS), 2047, the energy demand of India is likely to go up by 2.7-3.2 times between 2012 and 2040, with the electricity component itself rising 4.5 fold,” Niti Aayog said in its Draft National Energy Policy. It further noted that an expert group constituted by NITI Aayog has determined that meeting the 175 GW renewable installed capacity target by 2022, would not be as much a financial challenge as a technical one.

BHEL bags 15 MW solar photovoltaic plant order in Gujarat State-run Bharat Heavy Electricals has secured an order for setting up a 15 MW solar photovoltaic power plant on EPC basis in Gujarat.

ujarat Alkalies and Chemical Limited placed the order for setting up plant at Gujarat Solar Park in Charanka, the power equipment maker said in a statement. This will be BHEL’s first ground-mounted Solar PV project in Gujarat. The company is presently executing over 180 MW of groundmounted and rooftop Solar PV projects across the country, it said. BHEL has been contributing to the national initiatives for developing and promoting renewable energy-based products on a sustained basis since the past three decades, the company said. It has enhanced its state-of-the-art manufacturing lines of solar cells to 105 MW and solar modules to 226 MW per annum. In addition, space-grade solar panels using high efficiency cells and space-grade battery panels are manufactured at its Electronic Systems Division, Bengaluru. Source: PTI

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INDIA

GST: Power tariffs will not rise, says Piyush Goyal Power tariffs will not rise after the Goods and Services Tax (GST) regime gets implemented from July 1, Union Power Minister Piyush Goyal said.

ther issue was a dual slab rate structure for cable industry products, which may require a re-look. To a query whether the lower GST of 5 per cent on coal would help reduce power tariffs, Goyal said he would meet the forum of regulators on Friday to discuss ways to transmit the benefits of tax reduction to consumers. He also said the industry was enthusiastic about the transition to a more transparent tax regime that would be the “biggest reform that ever happened in independent India”. “Not a single participant at today’s meeting requested deferment (of GST implementation).”

We don’t foresee any upward impact on power tariffs from the GST,” Goyal told the media here following a meeting with 75 industry associations. “All the sectors had technical issues about the GST, which have been largely resolved across the table in this meeting, except two issues where more consultations are required.” Goyal said one of the unresolved issues concerns fly ash, which is an environmental friendly product, but the ministry was not in favour of a separate classification for it under the GST.

Source:BT

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August 2017

rooftop

649 govt schools in C’garh electrified through solar energy As many as 649 government schools in remote areas of Chhattisgarh have been electrified through solar energy. Electrification of government schools in remote areas of the state through solar energy, being done by Chhattisgarh State Renewable Energy Development Agency (CREDA), is going on at a good pace,” an energy department official said today. So far atleast 649 schools have been covered under the project against the target of 1,561 schools, he said.

he 649 schools, CREDA has set up solar power plants in 490 while ensured supply connectivity in 159 schools where solar power plants were already established, he added.The total cost to supply power in 1,561 schools through solar energy has been estimated at around Rs 45.98 crore of which so far Rs 8.18 crore have been spent by CREDA, he said. Besides, a proposal of Rs 37.80 crore has been sent to Sarva Shikhsa Abhiyaan office here for the electrification of remaining schools, the official.

CleanMax Solar to power Chennai Metro Onsite solar energy provider CleanMax Solar has bagged the order to power Chennai Metro Rail Ltd.

leanMax has bagged six MW Solar Rooftop Turnkey contract on RESCO model (Renewable Energy Service Company (RESCO) model) that would be used to power metro stations, depots and administration buildings,

“The venture will involve the installation of rooftop and ground mounted solar PV plants at 12 metro stations and at the maintenance depot in Koyambedu,” it said. The move was also in line with the Centre’s vision of moving towards renewable energy by 2022. With the use of renewable energy, the company said it would reduce the carbon dioxide emission by 7,438 tonnes per year and save Rs 1.50 crore annually to Chennai Metro.

French Consulate heritage building installed Waaree’s 144 Modules produce 5,700 units electricity per month

Waaree Energies Ltd supplied 144 solar panels on the roof top of the consulate building. The heritage building houses of French Consulate of Puducherry became the first administrative building of the French government in India to go green.

nauguration done by V. Narayanasamy (Chief Minister of Puducherry) with the renovated reception hall of the Embassy that can be completely lit by sunlight alone. Apart from replacing LED lights in the hall, the architects have constructed surfaces on the pillars that can bounce light back to the ceiling and diffuse it lighting up the entire central hall.

French Consul General in Puducherry Philippe Janvier Kamiyama said that as per an energy audit carried out in 2015, the embassy building fulfils the criteria for a five star rating, the highest level of certification of energy efficiency given by Bureau of Energy Efficiency (BEE).

Inspired by the United Nations Conference on Climate Change held in Paris during December 2015 (known as COP 21), the Embassy of France in India decided to implement several projects to make the Puducherry Consulate building environment friendly during the year 2016. Waaree Energies Ltd supplied 144 solar panels on the roof top of the consulate building. The 45.36 kW capacity roof top on-grid solar system produces on an average 5700 units per month. “Since mid-July, the solar plant has produced more than 33,000 units of power thus saving more than 2.3 lakh,” he added. He said: “The continuous technical improvements and change in user habits over more than a decade are bearing fruits for making this consulate a very environment friendly building. While this building consumed 53,358 units of power in July 2002, the bill for July 2016 shows 16,889 units, a reduction of more than 68%, an indicator of all the efforts undertaken both in the domains of conservation and production.”

Source:TOI

August 2017

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INDIA

845MW worth solar power plants installed across India: NTPC The National Thermal Power Corporation (NTPC) of India has recently revealed that India now hosts so solar power capacity worth 845 MW, after the recent addition of the 225 MW Mandsaur Solar Power Project - a 250 MW solar farm located in Madhya Pradesh.

remaining 25 MW will be commissioned as soon as evacuation constraints pertaining to the solar park developer Rewa Ultra Mega Solar Limited are eradicated; PV Magazine quoted the Mercom Capital Group, as reporting. Apart from this, Vikram Solar, BHEL and Tata Power also have 50 MW plants currently operating on the site.Solar power is being increasingly promoted as an alternative source of energy, the latest one being the installation of solar panels on the rooftop of all Kochi Metro Rail stations Apart from this, the Delhi Metro is also enabled with solar PV, and is set to further expand the capacity. Mumbai is also considering the creation of a rooftop solar network to be incorporated with the Central Railways.

MoU between NTPC and MOP for 2017-18

As per the MOU, NTPC has generation target of 250 Billion Units during the year under “Excellent” category. Revenue target from Operations under “Excellent” category is Rs 79,280 Crore.

ddition to above, parameters related to financial performance, operational efficiency, CAPEX, projects monitoring and HR Management are also part of MoU in line with guidelines of Department of Public Enterprises. NTPC is the largest power utility company in India with a total installed capacity of 51,635 MW. Company has presence in Coal , Gas , Solar PV, Hydro and Wind Power Generation and Coal Mining.

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Daimler’s Chennai plant to run on green power German auto maker Daimler will power its truck and bus manufacturing factory using renewable energy from next year.

he 400-acre manufacturing campus of Daimler India Commercial Vehicles (DICV), Indian arm of Daimler, at Oragadam near Chennai meets more than 70 per cent of its electrical needs from renewable sources.

“About 16 per cent of our factory’s dayto-day energy needs are met through solar energy. Another 55-60 per cent of the energy is sourced from wind mills. Our total electrical power consumption in 2016 was 28 MWh,” Marc Llistosella, Head of Daimler Trucks Asia, told BusinessLine. DICV has entered into contract with wind power producers. It has set up solar panels for a total capacity of 3.3 MW at its Oragadam facility. By 2018, the factory’s power demand will be entirely met renewable energy sources. “With that,” he believes, “this will be the first automotive plant that will be run fully on green power,” Through its solar panels alone, 3,500 tonnes of CO2 are saved every year. These solar panels were made in India.

“Going green is no longer about image-building, it is about creating energy efficiency. Solar and wind energy prices are now competitive. It is just a question of whether you want it or not,”

August 2017

rooftop

Solar power helps pump up petrol sales amid power shortage Solar energy is displacing fossil fuels across the globe. But in India, it is helping boost sales of diesel and petrol at filling stations.

s petrol pumps start using solar energy, many of them, especially in the hinterland with ample sunlight, are reclaiming as much as 10 per cent of sales earlier lost due to inadequate and erratic grid power supply. Some of the newer pumps have opted for solar only to avoid the higher cost of grid power.

hree years ago, Vikas Sharma, the manager of an Indian Oil pump at Bhojpur in Ghaziabad district, would lose up to 10 per cent of his monthly sales as electricity was available for only 8-10 hours daily, not necessarily during business hours. “Not every customer is ready to wait. By the time you get your boys to start the backup generator, the customer would have left. That’s the cost one pays daily for being dependent on grid,” said Sharma, who runs a fuel outlet for rural customers, about 50 km from the Delhi border. Sometimes the staff at filling stations is too lazy to even start the generator, knowing the cost of running it would be more than the money made from a motorcyclist wanting to fill Rs 20 worth of petrol. In about two and a half years, Sharma has more than recouped his investment of Rs 5.5 lakh on solar installation. His electricity bill halved to Rs 7,000 a month and expenses of Rs 15,000 a month on the backup generator disappeared, saving him Rs 22,000 a month. Sharma isn’t going totally offgrid because it would be difficult if he ever wanted to draw power from the grid in future. On the other hand, dealers like Prabhat Tyagi have never looked at grid as an option. He has relied on solar for all energy needs since 2012, when he started operating a filling station in Ghaziabad.

“Solar is not just about being environment-friendly. It is paying off financially as it helps raise sales as well as bring down the operating cost for petrol pumps,” said AK Sharma, director (finance) at Indian Oil Corp, the nation’s largest fossil fuel retailer, which has about a quarter of its 26,500 pumps using solar energy. Hindustan Petroleum and Bharat Petroleum have about 9 per cent and 7.5 per cent of their pumps using solar energy, respectively.

“All these accumulate into a substantial loss of business in a month,” said Sharma, who installed solar panels in early 2015 at his decadeold pump to the meet fuel demand that’s growing with rising rural incomes and roads getting increasingly better. “This has changed everything for us,” he said, pointing to the silicon sheets shining in the summer sun on top of his sales office at the filling station surrounded on three sides by fields awaiting sowing of the season. “Earlier, half the time our boys would be busy calling up the grid power supplier’s office to correct faults, or starting the diesel generator or getting some mechanic to repair the generator if it was acting up,” he said. With quality power supply from solar, even the cost of equipment maintenance has fallen. “The initial cost of connecting to a grid was Rs 2.5-3 lakh then. And for a supply of 6-8 hours a day, I would have had to pay a minimum Rs 5,000 every month. Add to this cost of a diesel generator. Therefore, I chose solar installation, which came for Rs 6 lakh and no operating cost.” Source: ET

August 2017

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August 2017

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Installed Solar Project at Khopoli Facility, Maharashtra First and Only Company in ERW segment to Power its facility with Solar Energy. Solar project to generate 1100 MWh / Year, Same amount of energy sufficient to power the installed and upcoming Capacities 24OO Solar Panels mounted, on an area equivalent to 3.75 Acres

ama Steel Tubes Limited (BSE: 539309, NSE: RAMASTEEL), a leading player in the manufacturing of ERW pipes, has lnstalled Solar Project at Khopoli Facility, Maharashtra. This Solar project will be generating 1100 MWh / Year of energy, same amount of energy needed to power the installed and upcoming Capacities. The solar project has a capacity of 750 KWp and will generate the same amount of energy needed to power the current as well as the planned upcoming capacity. An array of 2400 solar panels carpets the land, converting sunlight into electrical currents. lt will save money and energy while also protecting the environment. Commenting on the Solar installation, Mr. Richi Bansal, CEO, Rama Steel Tubes Ltd said, "We ore very pleased to inform the Compony hos successfully instolled Solor Project ot Khopoli Focility, Mohorashtra. We ore the first ond the only Compony in ERW segment to lnstoll Solor ponels ot its focility. We ore delighted to be working with Viso Powertech Pvt Ltd to help us ochieve our su stoi n a bi I ity o m biti on s

Sunsure Commissions Latest Plant – 2000 kWp Rooftop Solar for Merino Panel Products in Haryana A 280 kWp Rooftop Solar plant was inaugurated by Shri C.L. Lohia, Merino Group CMD on 5th May, 2017 at Merino Panel Products Ltd. (MPPL), Bahadurgarh.

With this latest addition, Merino Group’s total installed rooftop solar capacity has reached 2000 kWp spread across 3 states in India. At 2 Megawatt installed, Merino Group’s unwavering confidence in solar energy places it among the top industries using rooftop solar in India. Sunsure Energy Pvt. Ltd. – a Delhi-based turnkey solar projects developer – has installed 1400 kWp of this 2000 kWp, including the 280 kWp plant inaugurated this month. Commissioned in June 2016, this was the largest single-site rooftop solar plant in Haryana at the time. Pleased with the superior performance of Sunsure’s plant, Merino and Sunsure joined hands again for setting up a 500 kWp plant at Merino Industries Limited, Uttar Pradesh which was commissioned in October 2016.

Over 12,000 solar pumps distributed to farmers in Chhattisgarh Over 12,000 solar pumps have been distributed so far to the farmers at subsidised rates under ‘Saur Sujala Yojna’ in Chhattisgarh. About 12,161 solar powered pumps had been provided to the farmers till now against the target of 11,300 under ‘Saur Sujala Yojna’ since the inception of the scheme in November last year,

Chief Minister Raman Singh was informed about the development under the scheme while he was chairing a review meeting of the energy department at his official residence today, he said. Prime Minister had launched the ‘Saur Sujala’ scheme on state. foundation day on November 1, 2016 in Raipur. It’s aim was to strengthen agriculture by providing irrigation facilities, particularly where there is no power supply, and development of farmers in the state, he said. During the meeting, the chief minister instructed the officials to focus more in 85 tribal-dominated development blocks for the distribution of the solar energybased irrigation pumps, the official said. Singh expressed satisfaction that the department had distributed more solar pumps than the set target and congratulated the officials, he said.

The CM further stressed on the need to cover 20,000 farmers under this scheme by the end of this year pointing that farmers belonging to remote areas and inaccessible regions, should be given priority while distribution. Notably, farmers are being provided solar-irrigation pumps of 5-horsepower and 3-horsepower at heavily subsidized rates in the state. Solar irrigation pump worth Rs 3.5 lakh (3hp) is being given to Scheduled Caste and Scheduled Tribe classes at the cost of Rs 7,000, to Other Backward Class (OBC) at Rs 12,000 and general category farmers at Rs 18,000.The remaining amount is borne by the state government, Besides, the chief minister also directed the officials to complete electrification of all villages and hamlets by March next year. Similarly, he also asked to complete the installation of 32 power substations being established in different parts of the state, by March next year. Source : PTI

August 2017

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Rooftop solar to become norm by 2040: Niti Aayog

CEL launches 600 KW solar plant

NEW DELHI: Rooftop solar set-ups would become the norm in the country by 2040, according to government think-tank Niti Aayog’s draft National Energy Policy (NEP).

owever, the draft NEP has maintained that in an increased electricity share and in the immediate run-up towards universal coverage of electricity, it may not be viable to tap rooftop solar for homes. According to the draft, the share of solar and wind is expected to be 14-18 per cent and 9-11 per cent in electricity, and 3-5 per cent and 2-3 per cent in the primary commercial energy mix respectively, by 2040. The draft also noted that the advent of Electric Vehicles (EVs) will help curb a rise in share of oil. Environment friendly gas would substitute oil in many uses. However, “the share of oil and gas would have almost maintained their shares of 26 per cent and 6.5 per cent in 2015-16 to 25-27 per cent and 8-9 per cent in 2040, respectively.”

While coal would have risen in absolute terms (nearly double), but in relative terms, it would have reduced its contribution from 58 per cent in 2015 to 44-50 per cent in 2040, the draft said. The overall share of fossil fuels would come down from 81 per cent in 2012 to 78 per cent in ambitious pathway in 2040.

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entral Electronic Ltd (CEL) has commissioned a 600 KW solar power plant in Sahibabad Industrial Area of Ghaziabad. This takes the total captive solar power capacity on the CEL campus to 1 MW, said a company statement. The plant was inaugurated by Minister of Science and Technology Harsh Vardhan on Wednesday. He also laid the foundation stone for a Solar Technology Park in the CEL campus and launched a solar rickshaw developed by CEL at the event. Source:PTI

August 2017

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Delhi Government Signs CleanMax Solar as Sustainability Partner CleanMax Solar, India’s largest on-site solar power provider has been awarded a 2.5 MW contract by Indraprastha Power Generation Co Ltd (IPGCL) who has the mandate to execute solar project.

epartment of Power, Delhi Government to meet their growing power demands at several institutes and prime locations around the city. With this, CleanMax Solar will aid public facilities and infrastructure projects to go green by adopting sustainable sources of energy. for a city whose air pollution levels have spiralled out of control, the clean solar power CleanMax Solar’s plants will come as a relief to the capital. With the city’s electricity consumption on the rise, the rooftop solar plants will assist in bridging the demand-supply gap, generating enough energy to power 1500 homes. Furthermore, the plants are expected to slash carbon dioxide content by up to 1074 tons annually. Cumulatively, the plants will also meet a whopping total of 50 percent of the power saving per unit and will save taxpayers INR 55 lakhs per annum through their pay as you go OPEX model.

Commenting on winning the tender, Andrew Hines, Co-Founder, CleanMax Solar said, “We are very happy to have been awarded the contracts to provide sustainable energy solutions for the city of Delhi. While CleanMax is already the industry leader in solar solutions to corporates, we see a fantastic opportunity to help government and institutional clients to do the same. As a city that has grappled with the adverse effects of air pollution on, opting for solar energy is a great way for Delhi to meet its energy requirement while also reducing its energy costs and its carbon footprint.”

Registration open for rooftop solar power plants The Delhi government’s power department today said it has opened registration process for installation of rooftop solar power plants in the city, as it aims to tap one Giga Watt of green energy by the year 2020.

“The registration process has been opened for residents of Delhi in the residential, institutional and social sector categories under the city government’s solar policy of 2016 and Delhi Electricity Regulatory Commission’s (Net Metering for Renewable Energy) Regulations 2014,” a senior official said. Under the scheme, 30 per cent central finance assistance will be given by the Ministry of New and Renewable Energy (MNRE) on the cost of solar photo-voltaic plant. The generation based incentive (GBI) of Rs two per unit is also there for residential category, the official said. The Indraprastha Power Generation Company Ltd (IPGCL) has empanelled vendors for solar photo-voltaic installations. Source : PTI

August 2017

Enerparc India Installs World’s 1st Solar Power Plant on Ship to Shore (STS) Cranes at Gateway Terminals India.

Enerparc India Installs World’s 1st Solar Power Plant on Ship to Shore (STS) Cranes at Gateway Terminals India. Solar installation on STS cranes is a unique project and 1st of its kind in the world. Though the site was complex and had its own set of challenges, the project was completed in a timely manner, keeping in mind the exemplary quality and highest safety standards” said Mr. Amit Barve, Vice President Business Development at Enerparc Energy

nerparc Energy Pvt, Ltd. Indian subsidiary of Global Solar EPC and Investment CompanyEnerparc AG, Germany recently commissioned 162kWp Solar PV power plant on roof of Ship to Shore (STS) cranes located at Nava-Sheva port near Mumbai. The complete project right from concept stage, to designing, engineering and construction was executed by Enerparc for Gateway Terminals India Pvt. Ltd., part of APM Terminals Global network. APM Terminal, one of the world leader in port, terminal and inland services is not new to benefits of Solar Energy. In the 1st phase Enerparc has already installed 413kWp of rooftop solar PV system at various sites of the customer. To expand further, roof of control room on top of STS cranes was identified. APM have in total 10 heavy duty STS cranes which are used for loading and unloading of containers from ship to shore and other way around. The location was challenging as these control room are at height of 65m from the ground level and are subjected to constant vibration from the high shore winds and movement of crane in different directions, also the beams supporting the crane keeps casting shadow on installed solar modules. Enerparc with its technical knowledge and solar expertise overcame these challenges by using the right technology for solar modules, so that the concerns related to micro cracks (due to movement of crane) as well as hot spots (due to partial shading from support beams) are addressed.

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BUSINESS & FINANCE

YES BANK SIGNS GREEN FINANCE CHARTER WITH EUROPEAN DEVELOPMENT FINANCE INSTITUTIONS – FMO OF NETHERLANDS, DEG OF GERMANY AND PROPARCO OF FRANCE YES BANK, India’s fourth largest private sector bank, and FMO (the Development Bank of the Netherlands), along with DEG (the Development Bank of Germany) and Proparco (the Development Bank of France), organized an investment symposium on ‘The Opportunity of Green Finance in India’, where the four banks signed a charter to champion green finance in India.

anks committed to mobilize green investments, seize opportunities in India’s sunrise sectors, and contribute to achieving India’s Nationally Determined Contribution (NDC) and Sustainable Development Goals (SDG) targets, towards climate change. The symposium, which aimed to shed light on the increasing investment potential of green assets in India and the Asia-Pacific region, also marked the launch of YES BANK’s first Green Bond Impact Report, highlighting the outcomes of projects financed by the Bank’s three green bonds, as of FY17. The proceeds of the green bonds issued by YES BANK have helped fund renewable energy projects across nine states of India, and are estimated to generate 2.35 million MWh of electricity, annually. Additionally, these projects will potentially avoid annual emissions of 2.3 MT of Carbon Dioxide (CO2), 19 KT of Sulphur Dioxide (SO2), and 5.7 KT of

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Oxides of Nitrogen (NOX). YES BANK issued India’s first ever Green Infrastructure Bonds in February 2015, raising INR 10 billion, followed by a second issue of INR 3.15 billion in August 2015. In September 2016, YES BANK raised INR 3.3 billion by issuing a 7-year term green bond to FMO – the Dutch bank’s first investment in Green Infrastructure Bond issued by a bank in India. Over 50 different domestic and international financial institutions, spanning the public and private sector, including regulators, stock exchanges, rating agencies, banks, private equity firms, and DFIs, attended the symposium. Also in attendance were key stalwarts from the banking and finance industry such as Mr. Ashishkumar Chauhan, MD & CEO, Bombay Stock Exchange; Ms. Ayaan Z. Adam, Director, Private Sector Facility, Green Climate Fund; Ms. Chandni Khosla, Head, International Business, National Stock Exchange, and Ms. Barnali Mukherjee, Chief General Manager, Securities Exchange Board of India, amongst others.

Sharing his thoughts on the opportunity of green finance in India, Mr. Rana Kapoor, MD & CEO, YES BANK, said, “Green Financing has become a propeller of the global sustainability agenda and will play a mission critical role in meeting India’s climate targets. The government’s thrust towards transforming India into a lowcarbon economy offers financial institutions and investors an unprecedented opportunity to leverage green financing as a growth accelerator for sunrise and climate positive sectors such as renewable energy. YES BANK has taken a lead in demonstrating innovative climate financing mechanisms, and catalyzing the Indian climate finance market. We are proud to partner and to facilitate global development banks in expanding their green portfolios in India.” Commenting on the occasion, Ms. Linda Broekhuizen, Chief Investment Officer, FMO, said, “FMO is convinced that to accelerate

green finance and to have a meaningful impact, it is essential that financial institutions, governments and international development finance institutions bundle forces. This event forms a unique platform to discuss the opportunity-side of green finance, connect the parties and propel local prosperity.”

Commenting on the occasion, Ms. Karin Homermann, Vice President, DEG, said, “DEG as a development finance institution is focusing on green finance and has invested in the development of wind, solar and hydro power assets in India since 2008. We are looking forward to work on sustainable solutions together with our partners YES BANK, FMO and Proparco in order to contribute to India’s clean energy transition.” About YES BANK YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.

Source:Yes Bank

August 2017

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Mumbai housing society switches to solar power, saves Rs 2 lakh a month on electricity bills

GOLDEN TEMPLE KITCHEN TO SOON GO SOLAR The SGPC plans to switch over to solar energy soon to cook langar in the world’s largest kitchen at the Golden Temple. At present, at Sri Guru Ramdas Langar Hall, free food is prepared through LPG and some amount of wood is also used as fuel to prepare food for about 60,000 devotees daily.

umber increases during weekends and special occasions. The langar preparation sourced through solar energy would not only reduce the use of wood, which is the main source of pollution, but would also help in reducing the expenses on LPG cylinders. Around 5,000 LPG cylinders are used in the kitchen every month. A team of Punjab Energy Development Authority led by its director Balor Singh today explored the area where the solar energy plant was to be installed. PEDA has been working on a plan to prepare langar at the shrine with a solar steam cooking system for long.

A solar plant has been proposed. Golden Temple manager Sulakhan Singh said, “This plant will not only be eco-friendly but will also be efficient in cooking vegetables, daal, chapattis etc. Other sources of fuel like the LPG system will also be kept as backup in case of cloudy weather or a snag,” he said. Meanwhile, the work on modernising the new langar hall is in full swing. The new building would have four floors, including the basement. The new facility will boast of an ultramodern cooking facility, air-conditioned sitting place, lifts, separate provision for washing the vegetables, basement for storage of vegetables and ration, apart from a conveyor system.

August 2017

Residents of a housing complex in Kandivli are leaving no stone unturned in reducing their carbon footprint. Be it rainwater harvesting, use of solar power, installation of LED bulbs, getting waste water treatment plants or maintaining a green cover, the 230 families residing in Raheja Eternity have gone all out to develop a sustainable living environment.

he residents of the 20-storey building have reduced their dependence on the electricity grid by nearly 60% by using solar power generated in the premises. The residents collected Rs.35 lakh to install a 65KW rooftop solar system to mark World Environment Day in June. Their energy conservation efforts, however, started before this. They replaced all regular lights in the building’s common areas with energy-efficient LED bulbs.

Hardoi’s Royal Enfield showroom goes all-solar However, little did he know that it would change his life. Introduction to Su-Kam’s youtube channel was a turning point for him. It was at that point of time that he decided to solarize his showroom in Hardoi.

olar plant generates approximately 5 units of electricity every day depending on the weather conditions and powers 15 lights and 7 fans in the showroom. This was made possible due to the initiative of Su-Kam under which a solar inverter called Brainy Eco was installed in the showroom. Brainy Eco consists of an intelligent off-grid solar system that runs both on solar and mains. In this office, for example, if they want to use mains power whenever it is available they can select grid priority so that whenever mains is available, the load will run on mains and battery will charge by mains. On all other times, it will give priority to solar. The same way one can select solar priority to maximum use solar power at all times.

The solution is not only eco-friendly but also a cost –effective measure to tackle power crisis,” says Kunwer Sachdev, Managing Director, Su-Kam. For Nihal, the solar energy has solved his power woes. “Installing solar plant has indeed made life comfortable for me and my customers. For a small town like Hardoi, where load shedding is the order of the day, solar energy comes to our rescue. The switchover time of the inverter is minimal thus enabling my operations to run smoothly. It has also substantially reduced our electricity bills,” he says. Impressed by successful operations, Nihal has decided to solarize all his upcoming ventures.

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BUSINESS & FINANCE

GE Energy Financial Services to invest $90 million in RattanIndia’s solar power assets Attracted by India’s growing clean energy play, GE Energy Financial Services (GEEFS) is expanding its Indian renewable energy portfolio and plans to invest $90 million to develop a solar power project portfolio of 500 megawatt (MW) with RattanIndia Group.

E’s investment in the Indian project comes at a time when financing at the lowest cost has become the key to success, with bids falling almost by the day (projects are awarded to the firm that agrees to charge the lowest tariff).

GEEFS has made investment commitments of around $15 billion globally. RattanIndia and GEEFS are partnering to develop 500MW solar assets in the ratio of 51:49. GEEFS will be investing $90 million for the 500MW solar portfolio and has already invested money in 210MW solar projects of RattanIndia located in Government Solar Parks at Bhadla (Rajasthan), Allahabad (Uttar Pradesh), Pavagada (Karnataka) and in RattanIndia’s own land at Katol (Maharashtra),” said Anjali Rattan, chief executive office of RattanIndia Solar, in an emailed statement. India has an ambitious clean energy target of adding 175 gigawatts (GW) by 2022 and has announced its intent to stay the course on its commitments to reduce carbon emissions despite the US’s withdrawal from the Paris climate agreement on grounds the deal favoured India and China and was unfair to the US. “GE Energy Financial Services’ investment will provide dry powder to RattanIndia Group to bid for future solar power projects,” said a person aware of the development on condition of anonymity. GEEFS has previously invested in Welspun Renewables Energy Pvt. Ltd’s Neemuch plant, Atria Power wind projects at Anantapur district of Andhra Pradesh and Betul district of Madhya Pradesh, and Greenko Group Plc.’s wind projects in India. Spokespersons for GEEFS and GE India did not respond to emails seeking comment. The solar energy business in India has seen a significant decline in tariffs from Rs10.95-12.76 per kilo-watt hour (kWh) in 2010-11. They hit a new low of Rs2.44 per unit in May at the auction of 500MW capacity at the Bhadla solar park in Rajasthan.

August 2017

Through its subsidiary Yarrow Infrastructure Ltd, it also won a 70MW solar project at a tariff of Rs4.36 per kWh in an NTPC Ltd-run e-auction. Rajiv Rattan co-founded the Indiabulls Group in 1999. In July 2014, the power and infrastructure businesses were split from Indiabulls and rebranded RattanIndia, with Rattan as chairman. RattanIndia group has thermal power plants with installed capacity of 2,700MW and renewable plants totalling 300MW. It sells most of the renewable power produced at its plants to central government entities such as NTPC and Solar Energy Corp. of India Ltd. “All future capacity addition of the Group will be done under renewables segment only and the capacity of RattanIndia Group will be scaled to 5,000MW in near term”, said Anjali Rattan. India’s installed solar power generation capacity has risen over fourfold to 12.2GW from 2.6GW as of 26 May 2014. The National Democratic Alliance government has been promoting solar power in the country. As part of this push, it has decided to continue the policy of exempting solar power producers from interstate supply charges till December 2019. “The decision was taken by the ministry of power in consultation with the Ministry of New and Renewable Energy and other stakeholders since imposition of charges would have raised cost of using solar power from another state by Rs1-2.50 per kWh, depending on the distance it is transmitted and voltage at which it is supplied,” India Ratings and Research wrote in a 28 June report.

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Solar power: US gives India time till year-end to scrap local sourcing rules The United States has agreed to give India time till December 14 this year to remove the requirement for mandatory domestic sourcing of solar panels and modules under its national solar power generation programme.

his means that all contracts for solar power production entered into with power producers after December 14 under the Jawaharlal Nehru National Solar Mission (JNNSM) should not include compulsory domestic sourcing norms which the World Trade Organisation has ruled against,” a government official told BusinessLine. Washington decided to give New Delhi up to 14 months to change its rules and bring them in conformity with the Dispute Settlement Body’s (DSB) recommendations following intense consultations between the two countries on the reasonable period of time for implementation of the WTO verdict against India’s local sourcing norms. The usual implementation period at the WTO (decided by the complainant) is between 12 months and 15 months, but sometimes it could be lesser. The DSB had ruled in favour of a US complaint against the requirement that power producers under the JNNSM should compulsory procure a part of solar panels and modules for their projects from local producers as it argued that the provision discriminated against foreign producers. While the JNNSM aims to add 100,000MW of solar power by 2022, the local content requirement is only for 8,000 MW for rooftop and land-based projects where the government provides a subsidy.

“Now that the US has agreed to give India 14 months (from date of adoption of DSB ruling on October 14, 2016) it should utilise the time to make the necessary change its rules and not wait for the last minute to do so as it did in the case of the poultry dispute,” a trade expert based in Delhi said.

Poultry issue The US, in a separate dispute on import restrictions on poultry, imposed a demand for $450 million annual compensation from India for alleged failure to implement a WTO verdict within the reasonable period of time. “India moved to change its rules in poultry only after the US demanded compensation. The disagreement between the two countries on the matter is still on. Such a situation should be avoided through timely action by all Ministries and Departments concerned in the solar case,” he added. In the solar dispute, what also needs to be seen is whether the US would want the contracts signed before December 14, 2017, but were being

still implemented, to be re-worked. “WTO judgements are implemented with prospective effect. Hopefully, the US would not insist on re-working old contracts as it could lead to a serious set back for the programme,” the official said. The WTO judgement against India in the solar power dispute is a big blow to the country’s fledgling solar component manufacturing industry which faces huge competition from imports from China and the US. The Ministry of New and Renewable Energy has, however, assured the industry that it was looking at alternative ways of supporting local manufacturers.

Source : BL

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August 2017

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Dutch PM lauds India’s commitment to renewable energy, Paris Climate Agreement Dutch Prime Minister Mark Rutte has lauded India for its commitment to renewable energy and the Paris Climate Agreement. “I commend India for its commitment to renewable energy and to the Paris Climate Agreement,” he said in a joint statement with Indian Prime Minister Narendra Modi at Catshuis.Prime Minister Rutte said

“It is with the help of Netherlands that India successfully got membership of Missile Technology Control Regime last year,”

Prime Minister Naredra Modi said in joint statement

with Dutch PM Mark Rutte at Catshuis.

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onds between India and The Netherlands goes back to 1947 and these relations have become stronger over the years. Prime Minister Modi has announced major sustainability initiatives like ‘Clean India’ and ‘Make in India’ and asserted that The Netherlands is a key partner of India in a achieving its goal. Prime Minister Rutte further that India’s development is opening doors to trade and investment in both countries. Highlighting that India is a global economic power consisting of 1.2 billion population, Indian markets have a lot of potential and The Netherlands have a lot to offer to India. He also noted that 20 percent of India’s export to Europe enters through The Netherlands. Prime Minister Modi on his part thanked The Netherlands for helping India get membership of Missile Technology Control Regime (MTCR) last year. PM Modi also expressed his gratitude to the warm welcome that has been accorded him and his entire delegation, adding that this shows Netherlands warm sentiments towards Indian people.

August 2017

“This visit of mine to Netherlands was decided at a very short notice and yet I have to put in the record that the way visit has been organized not only would you agree to accommodating this visit at a short notice but in a very short period of time a very substantive programme has been setup and it is very result oriented program,” Asserting that ties between India and Netherlands are very old, PM Modi said that the bilateral relations between both sides are very strong. Describing Netherlands as a natural partner in the economic development of India, PM Modi said the trade and economic ties between both sides are increasing. He added that the both countries have intention to always make the bilateral ties deeper and closer. “Today world is inter dependent and inter connected therefore its absolutely natural that in our discussions that we will not only discuss bilateral issue but also international issues of importance.,” Emphasising on the Indian Diaspora in Netherlands, PM Modi said that they are the living links and living bridge between the two countries.

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India’s electricity requirement seen soaring 37% in 5 years Electrical energy requirement is expected to grow by 37% in five years, according to the 19th electric power survey (EPS) report released by the Central Electricity Authority (CEA). The country needs 1,566 billion units (BUs) of energy in FY22, the report said.

nergy requirement in FY17 was close to 1,143 BU, reflecting an annual growth of 2.6%. According to the 18th EPS published in 2011, energy requirement in FY17 was expected to be 1,355 BU. The electrical energy requirement on an all-India basis during FY27, FY32 and FY37 has been assessed as 2,047 BU, 2,531 BU and 3,049 BU, respectively. The report also added that the expected peak demand in FY22 would be 226 GW. However, it may be noted that the previous EPS had seen a peak demand in FY17 at 199.5 GW, 25% lower than the actual peak demand in the same period. The current installed power generating capacity in the country is nearly 329.3 GW. HomeEconomy India’s electricity requirement seen soaring 37% in 5 years. India’s electricity requirement seen soaring 37% in 5 years Electrical energy requirement is expected to grow by 37% in five years, according to the 19th electric power survey report released by Electrical energy requirement india, indian Electrical energy requirement, Electrical energy requirement in india, electric power survey, 19th electric power survey, latest electric power survey, eps report, electric power survey report Energy requirement in FY17 was close to 1,143 BU, reflecting an annual growth of 2.6%. Electrical energy requirement is expected to grow by 37% in five years, according to the 19th electric power survey (EPS) report released by the Central Electricity Authority (CEA). The country needs 1,566 billion units (BUs) of energy in FY22, the report said. Energy requirement in FY17 was close to 1,143 BU, reflecting an annual growth of 2.6%. According to the 18th EPS published in 2011, energy requirement in FY17 was expected to be 1,355 BU. The electrical energy requirement on an all-India basis during FY27, FY32 and FY37 has been assessed as 2,047 BU, 2,531 BU and 3,049 BU, respectively. The report also added that the expected peak demand in FY22 would be 226 GW. However, it may be noted that the previous EPS had seen a peak demand in FY17 at 199.5 GW, 25% lower than the actual peak demand in the same period. The current installed power generating capacity in the country is nearly 329.3 GW. The peak electricity demand has been estimated as 226 GW, 299 GW, 370 GW and 448 GW during FY22, FY27, FY32 and FY37, respectively. Speculations of an additional requirement can come as a ray of hope for the power industry, which is currently mired in a low-demand scenario. This has led to power plants operating at low plant load factors (PLFs) which makes it difficult to service debts. The average PLF for thermal power plants across the country was 59.8% in FY17. PLF for private sector plants was 55.7%. About 33,000 MW of coal-based power plants currently do not have long-term power purchase agreements. Out Source: FE of this, more than 18,000 MW are already commissioned.

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Renewables set to dominate $10.2 trillion investment into energy by 2040

ew Energy Outlook 2017 – Long-term forecast of the world’s power sector. Renewable energy sources are set to represent almost three quarters of the $10.2 trillion the world will invest in new power generating technology until 2040, thanks to rapidly falling costs for solar and wind power, and a growing role for batteries, including electric vehicle batteries, in balancing supply and demand. Focused on the electricity system, NEO combines the expertise of over 80 market and technology specialists in 12 countries to provide a unique view of how the market will evolve to 2040.

Nat Bullard: Investing trillions in electricity’s sunny future ‘Electricity’s future is sunny and windy, too - to the tune of trillions of dollars of new investment. While wind is tops in dollars, solar continues to decline in cost, and that means it will pass nuclear generation capacity this year, wind in 2022 and gas in 2031. In 2032, solar capacity will exceed coal-fired power generation capacity, and it is the single largest source of capacity (though not of electrons) on the global grid.

Bloomberg Radio: Electric cars will be cheaper than gas cars New BNEF research shows that falling battery costs will mean electric vehicles will be cheaper than fuel-powered ones in the U.S. and Europe as soon as 2025. Colin McKerracher, Head of Advanced Transport for Bloomberg New Energy Finance, joins Bloomberg Markets AM with Pimm Fox and Lisa Abramowicz to discuss electric cars, battery prices, price competitiveness and how the automotive industry might be shifting in the future.

Rapid growth in data centers a boon for lithium batteries Data centers are the major purchasers of leadbased batteries which improve the power quality and provide instantaneous back-up power. This is a rapidly growing market: demand for battery back-up in data centers across North America and Europe will quadruple between 2016 and 2025, rising from 3.5 to 14 gigawatthours. A smaller number of ‘hyperscale’ data centers, operated by companies such as Google, Apple, Amazon, Facebook and Microsoft will dominate the data center market in the Source: BNEF coming years.

August 2017

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State of the State Conclave: Indian coal sector handicapped by a ‘scam’ worth Rs 25 lakh crore, says Piyush Goyal

Top Chinese firm signs MoU with Adani group to invest $300 mln

If Union Minister of State (Independent charge) for Power, Coal, New and Renewable Energy Piyush Goyal is to be believed, Indian coal sector is handicapped by a “scam” worth Rs 25 lakh crore.

Indian conglomerate Adani Group has signed an Memorandum of Understanding (MoU) with East Hope Group, one of China’s largest private companies, to invest $300 million in a manufacturing unit of an Indian port.

Forty per cent of our thermal power capacity is dependent on imported coal because the plants are designed that way. They cannot run on Indian coal, though India is the third largest coal producing country. This is costing India Rs 25 lakh crore a year. This is big scam,” Power Minister Piyush Goyal said at the India Today’s Group’s State of the State Conclave held in Jaipur today. The Conclave is a signature India Today event where a special report on various growth indicators of a particular state is released. All the districts in the state are ranked based on various parameters and categories.

alking about Rajasthan, the union minister praised the Vasundhara Raje government for its work in the power sector. “When Vasundhara Raje took charge of the state in 2013, the state was suffering an annual loss of Rs 15,000 crore in power sector. In barely three years, she brought the loss down to Rs 5,200 crore. I’m sure by next year, the state will make profit and will make it to a case study by Harvard University,” Goyal said. The Union minister expressed hope that Rajasthan’s solar power potential may drive the vehicles of future in the country. He also justified high GST tax rate on hybrid cars saying that this has been done keeping in view of introducing electric cars in the country by 2030. Elaborating on Modi government’s vision for India on August 15, 2022 when India completes 75 years of independence, he said:

“Our vision is to see that every citizen has roof on his head, 24-hour electricity, a toilet at home, good road connectivity, quality education and proper healthcare facilities.” Source : IT

August 2017

During the day-long event, spread over 12 riveting sessions, 31 eminent speakers including Rajasthan Chief Minister Vasundhara Raje, Union Minister CR Chaudhary, industrialist Anil Agarwal, Union Home Secretary Rajiv Mehrishi, former Union Minister CP Joshi, educationists T.V. Mohandas and Manish Sabharwal, Grammy award-winning musician Pandit Vishwamohan Bhatt, actor Ila Arun and fashion designer Raghavendra Rathore discussed and debated about the multi-dimensional growth trajectory of Rajasthan.

The memorandum of understanding (MoU) signed between Adani and East Hope Group proposes to set up manufacturing units in Mundra special economic zone in Gujarat to produce solar power generation equipment, chemicals, aluminium and animal feed, a statement by the Indian Consulate in Shanghai said.

statement made by the Indian Consulate in Shanghai said that the MoU proposes to set up manufacturing units in Mundra special economic zone (SEZ) in Gujarat to produce solar power generation equipment, chemicals, aluminium and animal feed. Furthermore, it will also put in place East Hope Group’s engineering and industrial intergration chain to recycle and economise the product cost at Mundra SEZ.

the President of Adani Ports and SEZ and President of East Hope Group (investment) signed the MoU in the presence of Consul General, According to the statement, the MoU is proposed to convert into a definitive agreement within a period of 180 days and would cover areas of specific cooperation outlined as per agreement between the two sides. As part of the proposed cooperation between the two companies, the estimated investment of more than US $300 million is expected to be made by the East Hope Group in India. East Hope is a Renminbi 70 billion Group and is one of the China’s largest corporate house having business interests in aluminium, polysilicon, power and animal feed.

Source : PTI

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Shri Piyush Goyal Launches Energy Conservation Building Code 2017 Adoption of ECBC could lead to 30%-50% energy savings by commercial buildings Shri Piyush Goyal, Minister of State (IC) for Power, Coal, New and Renewable Energy and Mines launched the Energy Conservation Building Code 2017 (ECBC 2017) here today. Developed by Ministry of Power and Bureau of Energy Efficiency (BEE), ECBC 2017 prescribes the energy performance standards for new commercial buildings to be constructed across India.

pdated version of ECBC provides current as well as futuristic advancements in building technology to further reduce building energy consumption and promote low-carbon growth. ECBC 2017 sets parameters for builders, designers and architects to integrate renewable energy sources in building design with the inclusion of passive design strategies. The code aims to optimise energy savings with the comfort levels for occupants, and prefers life-cycle cost effectiveness to achieve energy neutrality in commercial buildings. In order for a building to be considered ECBC-compliant, it would need to demonstrate minimum energy savings of 25%. Additional improvements in energy efficiency performance would enable the new buildings to achieve higher grades like ECBC Plus or Super ECBC status leading to further energy savings of 35% and 50%, respectively. With the adoption of ECBC 2017 for new commercial building construction throughout the country, it is estimated to

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achieve a 50% reduction in energy use by 2030. This will translate to energy savings of about 300 Billion Units by 2030 and peak demand reduction of over 15 GW in a year. This will be equivalent to expenditure savings of Rs 35,000 crore and 250 million tonnes of CO2 reduction. ECBC 2017 was developed by BEE with technical support from United States Agency for International Development (USAID) under the U.S.-India bilateral Partnership to Advance Clean Energy – Deployment Technical Assistance (PACE-D TA) Program. The launch event was attended by senior officers of Ministries, State Governments, technical bodies, public utilities, multilateral agencies, international funding bodies, academicians and industry experts and consultants from across the building, infrastructure, real estate, energy and construction sectors. The event also featured a video on the ECBC, as well as a technical session that highlighted the salient features of ECBC 2017, international best practices in the building sector, as well as the presentation of case studies on energy efficient buildings. Source : pib.nic.in

In his address , Shri Goyal, said, I would like to dedicate ECBC Code 2017 to all the young children of India …to the future of India for whose sake , it is incumbent on all of us to efficiently utilize every bit of resource , ensure implement such progressive and forward looking programmes of Government very diligently and ensure that we will leave behind for next generation a better world then what we inherited .” Shri Pradeep Kumar Pujari, Secretary, Power, stated that ECBC 2017 will give clear direction and have criteria for new buildings to be Super ECBC: “The new code reflects current and futuristic advancements in building technology, market changes, and energy demand scenario of the country, setting the benchmark for Indian buildings to be amongst some of the most efficient globally.”

August 2017

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Sterling and Wilson Scales New Heights; Gets Awarded the World’s Largest Solar PV Plant Sterling and Wilson, one of the dominant global forces in the solar-PV space, has bagged Turnkey Engineering Procurement and Construction along with Operation & Maintenance contract for the world’s largest single location solar PV plant in Sweihan, Emirates of Abu Dhabi. The project will deliver a capacity of 1177 MWp, easily surpassing the current largest 850 MWp single location plant in China.

August 2017

ith construction already underway, the prodigious plant, which is spread over a desert area of 7.8 sq. km, is scheduled to be fully integrated with the grid in a record timeline of just 23 months. To top it all, the project was awarded at the lowest ever recorded bid in the history of PV solar. The plant is jointly developed by Marubeni, a Japanese integrated trading and investment giant, along with Jinko, a global leader in the solar industry, and Abu Dhabi Water and Electricity Authority (ADWEA). The consortium has successfully bid a tariff of USD 2.42 cents per kilowatt hour, marking the lowest cost ever for solar power. This is a positive demonstration of the promising future of clean energy, reducing the dominance of fossil-fuel-backed power plants. The prestigious project will play a major role in the Emirates of Abu Dhabi achieving its aim of sustainability and energy diversification, through the use of clean energy/ low carbon growth in accordance with the world’s vision of long-term environmental stewardship. The plant, once commissioned, would save around 7 million tonnes of carbon emissions every year, a number that would be a national landmark. To put it in perspective, 1177 MWp can power around 195,000 homes, thus contributing to the welfare of the current as well as the future generations of the people of the UAE. Sterling and Wilson also has to its credit 1400 MW of best performing solar power plants in various geographies with a powerhouse of more than 3000 qualified engineers, project managers and designers.

“We are fully geared and very excited to be a part of this important milestone in the global solar market,” said Bikesh Ogra, President – Renewable Energy, Sterling and Wilson.

Owing to the favorable government policies, India is now the 3rd largest market for solar in the world, allowing Sterling and Wilson the opportunity to become the leading solar EPC in the country. The company has created a global brand and has now grown to be the world’s largest solar EPC player outside USA and China. Laying emphasis on the need to be competitive, he further added, “The strongest contributor to this tariff is the capital expense driven by lower equipment cost and a highly efficient system design. Our unique design offerings and state-of-the-art robotics optimizes the yield and performance of the plant.” As the acceleration of growth in the energy sector has increased worldwide, Sterling and Wilson has ventured into the wind and energy storage sectors, covering the entire canvas in the renewable sector. Backed by its robust resources in project management, project implementation and project engineering, with projects completed in the Philippines and South Africa, and a number of projects in Zambia, Niger and Morocco under construction, the company is fully geared to deliver more than 3000 MW every year.

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India’s thermal plants may become economically unviable’ India’s ultra thermal plants, designed to run on foreign coal, may no longer afford to do so economically in the future, says a top financial analyst with a leading US-based institute.

Both are no longer competitive owing to nearly doubled price rise of coal from Indonesia since their planning and incapability to hike tariffs, says Tim Buckley, Director of Energy Finance Studies Australasia with the Institute for Energy Economics and Financial Analysis (IEEFA).

an be seen in the case of India’s two largest thermal power projects in Gujarat’s port town of Mundra Adani PowerBSE -1.83 %’s 4.6 GW and Tata PowerBSE -1.27 %’s 4 GW plants. Adanis’ Mundra plant has previously been disclosed to be operating with 100 per cent imported coal from Indonesia while Adani Power has been operating at a net loss, and has been doing so for the last seven years, Buckley told IANS in an email interview. The Mundra plant is by far Adani Power’s largest and is the intended destination for the majority of its thermal coal imports from the Carmichael proposal in Australia under Adani’s “pit to plug” strategy. After an adverse Supreme Court ruling disallowing any tariff revision to compensate for higher cost of imported coal, Adani Power discontinued 1,250 MW of power supply from Mundra due to unviability of running these units on imported coal. “These plants will curtail production rather than lose money with every unit of production. It is a likely conclusion that a $1-2 billion write down of Adani Power’s $5bn plant is on the cards. As it stands, this plant is a clear stranded asset,” said Buckley.

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Adani Power has approached state-run Gujarat Urja Vikas Nigam (GUVNL) to bail out its Mundra plant. According to reports, one option for GUVNL is to take a majority stake in the plant post a write-down of equity. Likewise, Tata Power has written to the central government proposing to sell 51 per cent equity of its ailing asset for a nominal fee of Re 1, citing challenges faced by the company since Indonesian coal prices doubled. According to Buckley, a writtendown plant can be reconfigured to be viable, particularly if cheap ($20/ tonne) domestic coal can be procured in proximity to the plant without exorbitant rail freight costs. However, a key requirement is that blending in low energy and high ash Indian coal requires high quality existing Australian thermal coal which is high energy BSE -4.21 % and low ash. But coal from Carmichael would be low energy and high ash and far from ideal for blending with cheap domestic Indian coal, he said. Commenting on Energy Minister Piyush Goyal’s recent assertions that India would need to keep importing coal, including from the proposed Carmichael mine, “The strategic aim to cease non-coast power plant usage of imported thermal coal within the next two to three years means domestic operators will need to reconfigure their plants so that they can use domestic coal.”

For India, tapping renewable energy sources is a great opportunity, “The move away from thermal fuel imports improves the balance of payments, helps improve the currency and hence reduces imported inflation generally,” Buckley added. An IEEFA report titled “NTPC as a Force in India’s Electricity Transition” showcases how the Indian government is shifting rapidly towards a lowcarbon economy a step towards achieving the 2015 Paris Climate Agreement aim of cutting greenhouse gases from burning fossil fuels. India’s draft “Ten Year Electricity Plan” calls for a staggering 275 GW of renewable energy by 2027, in addition to 72 GW of hydro and 15 GW of nuclear energy.

August 2017

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Electric Vehicle Outlook2017

NEF’s annual long-term forecast of global electric vehicle (EV) adoption to 2040 is out. It forecasts passenger EV sales out to 2040 and the impact that electrification will have on automotive and power markets, as well as on fossil fuel displacement and demand for key materials.

“The EV revolution is going to hit the car market even harder and faster than BNEF predicted a year ago. EVs are on track to accelerate to 54% of new car sales by 2040. Tumbling battery prices mean that EVs will have lower lifetime costs, and will be cheaper to buy, than internal combustion engine (ICE) cars in most countries by 2025-29.”

August 2017

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Clean energy investment â&#x20AC;&#x201C; 2Q 2017 gures The second quarter of 2017 saw $64.8 billion invested in clean energy around the world, up 21% from 1Q this year, but down 12% compared to 2Q 2016. The financing of two huge photovoltaic projects in the United Arab Emirates helped to drive a recovery in global clean energy investment, the highest for any quarter since 2Q 2016. Other highlights of the data include bounce-backs in investment in the April-to-June quarter in China and the U.S., and sharply increased funding for projects in Mexico, Australia and Sweden.

U.S. utilities offer multiple electric car charging rates Major U.S. utilities such as PG&E, DTE Energy and Consolidated Edison now offer special electric vehicle charging tariffs. Designed to shift demand to off-peak hours, these tariffs offer steep discounts to consumers who charge their EVs at night. However, if solar PV deployment continues to rise, daytime power prices will fall and off-peak times will shift. This would make it more difficult for home charging tariffs to line up with off-peak times. The utilities, which are just beginning to experiment with EV grid services, will need more pilot programs to determine the true costs and benefits of boosting off-peak EV charging.

An integrated perspective on the future of mobility Mobility is the lifeblood of our cities and essential for urban life. What, then, will be the future of urban mobility? This report, co-produced by Bloomberg New Energy Finance and McKinsey & Company, seeks to answer that question. To do so, it explores how a number of existing social, economic, and technological trends will work together to disrupt mobility at the local level.

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August 2017

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EXCLUSIVE INTERVIEW

In Exclusive Talk With Mr.Pratyush Kumar Thakur EQ: Please describe in brief about your company.

PT : Statkraft BLP Solar Solutions Private Ltd (SBSS) is a joint venture between Statkraft and Bharat Light and Power(BLP). Statkraft BLP Solar Solutions Private Ltd (SBSS) was founded in 2015 to provide solar solutions to Commercial & Industrial customers in India. Statkraft is 100% owned by the government of Norway and traces its roots back as far as 1895. Today, Statkraft is a leading company in hydropower internationally and Europe’s largest generator of renewable energy. It owns over 18 GW of power assets, out of which it owns 300 MW of hydro assets in India. Bharat Light & Power (BLP) is one of the leading renewable developers in India and owns 180 MW of wind assets.We have commissioned a 5MWp ground mounted solar plant in Pavagada, Karnataka and several rooftop projects in Gurgaon, Pune & Rajasthan.

Chief Operating Officer Statkraft BLP

August 2017

We, as an organization, are committed towards • Operating sustainably and developing its business in a way that adds value to countries and local communities in which we are operating. • Supporting a precautionary approach to environmental challenges and undertaking initiatives to promote greater environmental responsibility • Working actively for an injury-free and healthy working environment and promoting an open and proactive health and safety culture. • Having high standards of ethical conduct in every activity we undertake.

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EXCLUSIVE INTERVIEW

EQ: What is the impact of RUMS/ SECI/Bhadla/NTPC Bid on past projects and upcoming tenders? PT : The RUMS and Bhadla Solar Park bids have witnessed an all-time low tariff mark of below INR 3, which is still looked at as an unviable price by a fair number of players in the Solar Industry. The SECI wind tender also has set a record of being the lowest bid in wind till date. These bids have cast a shadow of uncertainty over certain projects allocated under past tenders, as some states have delayed the signing of PPAs which have prices higher than the bids at RUMS. With the surplus of solar modules in the market, the offtakers have been heard of negotiating further reduction on tariffs that have been confirmed through competitive bidding. This delay in approval of PPAs does not bode well for the investors’ confidence. Also, these tariffs if looked at as benchmark,may also pressurize the EPC industry and other vendors by introducing a disruptive competition into the industry.

EQ: How has recent Solar & Wind Tender Bid changed the dynamics for Solar & Wind Projects in India? What are the challenges, threats and new opportunities you see emerging now?

PT : Wind & solar power are now competitive with conventional sources of electricity as their costs have been plunging in recent bids. The proposed tariffs are based on the historical trend of drop in prices of solar PV modules & wind turbines, which has been 80% and 30-40% respectively since 2009. Furthermore, solar module costs have fallen down by 26% in 2016 alone and are expected to fall down further. Though this kind of aggressive bidding in not new to India, the viability of these dramatic price reductions in Solar & Wind Power needs to be assessed yet especially after factoring in the implementation of GST, the cease of Tax relaxation for infrastructure projects under 80IA, eligibility for generation based incentives & several other upcoming

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government regulations. Though the market has only seen increased efficiency without reduction in quality over the past few years and hopefully the value chain will progress to do the same, the falling solar module prices have created a cut-throat competition for the manufacturers, which may in the future pose a threat to the quality of the solar modules. The reduction in prices is also favoring the shift of renewable energy from alternative energy to mainstream energy or preferred energy, helping young solar industry fuel economic growth, create new employment opportunities, enhance human welfare and contribute to a climate-safe future.

EQ: What are the trends in Module prices for Q3, Q4 of 2017 & 2018 onwards?

PT : An oversupply of PV module manufacturing in China in the second half of 2016 along with overseas solar projects delay has led to a significant lowering of solar module prices in Q1 & Q2 of 2017 in India. A good pipeline for the supply of solar panels has already been built, which may equalize global supply and demand, leading to stabilization of prices in Q3 and Q4. However, the cost and tariff trends cannot be predicted accurately since the reduction of costs has been based on the global oversupply, without a forward reference to raw materials being used. The 5% GST being levied on solar panels, in comparison to the erstwhile tax rate of 0% may negate the impact of reduction in module price, if any, in the short term. We believe that in the longterm LCOE of projects shall be improved with efficiency increase in the modules even at broadly same price levels.

EQ: What are the expectations from Tech Suppliers like Modules, Inverters, BOS, Trackers etc… What is the tech solution you thinking of deploying?

PT : India solar market, in addition to cost reduction, is also moving towards the value enhancement. We foresee high inclination towards increased efficiency

& lower LCOE in the times to come. The introduction of diamond wire sawing in 2016 is expected to lead a significant improvement in terms of wafering process cost reductions. Module technology is focusing more on increasing performance by reduction of optical losses and reducing material costs by reducing material thickness, waste of material & replacing expensive materials. Bifacial modules, smart junction-box technologies are anticipated to improve the power output of PV systems. There is an increasing share of mono-crystalline modules and PERC/PERT technologies which are observed to have increased efficiency by 1%. Increased number of bus-bars on modules have also become the new trend. We have recently commissioned a rooftop project with top quality bifacial modules in Gurgaon and are working towards more projects using this technology. We are keen to implement technologies and carry out value engineering in the design to bring down the LCOE to allow us to offer more competitive prices to our customers.

EQ: What’s your view on the Government of India target of 100GW Solar by 2022 and what are your plans?

PT : The high, but noble ambition of 100 GW solar by 2022 may be difficult to achieve but is certainly a step in the right direction. It is not an easy task, and hence, to achieve this target India needs a more focused approach towards alternative investments beyond the banking system and favorable land acquisition policies. Standing at 12.5 GW solar power as of April 2017, India will need to add 17.5 GW at an average every year to reach the 100 GW target, which is above three times the solar capacity of 5.5 GW added in 2016 – 17, which has been the highest so far. Faster execution of PPAs for bids at the scale of RUMS/Bhadla Solar Park/NTPC and more of such initiatives NTPC/ BEL and other states may significantly contribute towards achieving the Target of 100 GW solar by 2022.

August 2017

EXCLUSIVE INTERVIEW While scalability on the utility scale projects is not a huge challenge, rooftop target of 40GW seems almost impossible to achieve. This is especially due to a lack of feed-in tariff and intense competition among the developers to get the “first-movers’ advantage” At SBSS, as solar project developers, we are focused on continuing to strengthen our presence in both large scale utility projects and rooftop segments. To contribute towards India’s goal of reaching 100 GW solar by 2022 we will be investing & developing not only our own projects but we will also be participating in tenders. Our business plan is also in line with this ambitious goal of India and growth potential in solar industry in India.

EQ: Kindly highlight your strengths and USP which give your company a distinct advantage as compared to your competitors. PT : We provide unique solutions to our clients. Each energy solution is specifically designed by experts to meet the customer’s need by taking every detail into account right from the planning and design phase of the solar installation. A reliable capital base of the parent companies i.e., Statkraft and BLP ensures no delays due to financial closure in commissioning of the solar installations. Customers are ensured of enjoying free and clean energy without burning a hole in their pocket. We are a “one-stop-shop” for our customers which typically are commercial and industrial companies. We not only provide in-campus and open-access based solar solutions, with Zero Investment from the consumer, but also provide multiple options on buying power through our trading company which includes brown power, renewable power, internationally accepted renewable energy certificates etc.

EQ: Comment on Various challenges such as Aggressive bidding, Land, Finance, Grid Connection, PPA, Forex Fluctuation, Pricing & Tech Trends, and Payments risks.

PT : Every organization must have done a due diligence of their strengths to deliver the projects on the numbers they have calculated and bid on. So, whether the bid is aggressive or not may differ from organization to organization. However, what we may need to focus

August 2017

on and understand is that to retain the viability and sustainability of one’s own business, an organization needs to leverage its own strengths and USP, and not be carried away by such numbers. Finance again, may not be a generalized challenge. With companies like us, which already have a reliable capital base, financial closure does not act as a major obstacle in the project path. Finance will be a critical factor for organization dependent on external investment such as bank loans. Solar power plants are land dependent projects and require non-agricultural land/waste land, and the revenue records do not have data of the most of the rural lands, which is a huge challenge. Apart from land acquisition, risks due to transmission uncertainties, delayed payments, and curtailment of renewable power along with weak enforcements of renewable purchase obligations remain challenge areas.

EQ: What kind of mounting would you adapt - fixed or tilt of seasonal tilt etc., in tracking? What are your views on the technology available, its costbenefit analysis, O&M, learning etc..? PT : For our first few projects, we have implemented fixed tilt systems. This was done based on a low risk low return principle. While tracking systems are expected to increase the CUF of a project, the purchase cost and increased O&M costs on such mounting may offset the revenue gain. Also as the solar market is expanding, the projects are being developed on sites which are less than ideal – those with steep slopes or rolling terrain, irregular boundaries or obstructions, on which fixed tilt is more advantageous. Hence, we generally go with fixed tilt, as it optimizes the cost as well as the requirement of the structure. We would certainly carry out one of the projects in future using a tracking system to test out the technologies and gain learnings about the system.

EQ: What pipeline of projects do you currently own, kindly specify the size of the project, its location, tariff, scheme, timeline of completion, its viability

PT : A 5MWp ground mounted project is currently under execution in Chennai. We also have several rooftop projects

across India, which will strengthen our rooftop portfolio further. We are also working on a quite large project in the state of Karnataka, owing to the expiry of favorable solar policy for open access projects in March 2018.

EQ: What are the expected EQ: generation from these projects in terms of kwh per DC or AC capacity.

PT : Our 5MWp ground mount solar plant in Karnataka has an expected generation of 15.5 lakh units per annum per megawatt peak. However, our solar plant overall generation has been higher than expected due to careful selection of components, quality of execution &optimization of operations. In Delhi and neighbouring areas, the actual generation may be lower than design generation due to local weather conditions like excessive rainfall or cloud cover and environmental conditions like more pollution in the air respectively. In rooftop projects, the generation from the project depends on the orientation of the roof, absence or presence of clutter and the shade being cast by external objects such as trees, overhead tanks, turbo vents, chimneys etc.

EQ: Can you please enlighten us on the way you implement a project and what specific or unique things are followed which makes you different from other developers. What are the unique parameters which differentiates projects developed by your company?

PT : Our unique differentiating factors are our focus on the safety of all occupants during the construction and operational phase of the project. Our obsessive focus on safety also enables us to carry out the best design and loss of operational hours due to safety incidents. We are also quite detailed oriented while selecting components. We have already developed our standard technical conditions for all major components and go into significant detail beyond the module make at the time of purcase. We also are quite keen on adopting new technologies like bifacial panels, flexible panels and have already developed such projects. We work with our EPC partners to value engineer the design and execution of projects to optimise the commercial value without compromising at all on the quality of sytem and safe operations.

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August 2017

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EXCLUSIVE INTERVIEW

In Exclusive Talk With Sungrow -Vice President Mr.William Zhou EQ: The recent aggressive bidding by various developers keeping Solar Tariffs in the price range of Rs.2.44 – 3.3per kWh in various Solar Tenders…Whats your view on the viability, Costs & timeline pressures, Resource Challenges (Materials, ManPower, Execution, Grid Connection, Land Possession) etc…

WZ: Low prices, high reliability and high efficiency is the requirement of today’s solar industry. Typically, we witnessed 3-4% increase in efficiency and 3-4% reduction cost. So, we could expect the solar tarrifs may continue to go down by 5-8% year-on-year. The cost of production may continue to come down. Bigger factories and lower cost of manufacturing will ultimately lead to reduction in tarrifs over the next few years, but also keeping sustainability, reliability and efficiency in mind.

EQ: Kindly enlighten our readers on the performance of your Inverters in India in various geographic locations, customer feedback,.

EQ: How much Inverters have you supplied to India till now, what is the target/expectation in 2017-18

WZ : Over 1GW has supplied to India. Over 2GW will be supplied to India in 2017.

EQ: Present some noteworthy projects, case studies of solar plants built using your solar Inverters

WZ : Indian market have been very favorable and great support & cooperation have been received by Sungrow for its products. We signed 1.3 GW by September 2016 and will finishing 1GW on ground by June 2017, with big solar players like Renew Power, ACME, Mytrah Energy, Tata Power, Sterling & Wilson, Harsha Abakus, Hero Clean Solar, etc.

August 2017

WZ: Sungrow’s high efficiency inverters known for its design engineering, quality & reliability have been widely accepted by Indian market. 2016 has been a great year for us, in terms of acceptance from most of the leading IPP & EPC companies which has enabled us to achieve an order booking of 1.3 GW,1000 V container solution and 70 MW ,1500 V indoor central inverters. These orders compliment the installed capacity of 200MW in India.

EQ: Please describe in brief about your company, directors, promoters, investors, its vision & mission

WZ : Sungrow is aglobal leading PVinverter system solution supplier with over 31GW installed worldwide as of December 2016.Founded in 1997 by University Professor Renxian Cao, Sungrow is a global leader in research and development in solar inverters, with numerous patents and a broad product portfolio offering PV inverter systems as well as energy storage systems for utility-scale, commercial, and residential applications. With a 20-year track record of growth and success, Sungrow’s products are available in over 50 countries, maintaining a market share of around 25% in Germany and 10% globally.

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EXCLUSIVE INTERVIEW

EQ: What is the size of your company in terms of manufacturing capacities, growth chart, future expansion plans, revenues, shipments, ASP’s, financial figures.

WZ : Sungrow factory takes an area of 93,936 m2 and has an annually capacity of 18 GW PV inverters, A new PV inverter factory taking an area of 188,717 m2 is under construction which will lift the annual production capacity to 36 GW within one year. Sungrow is a global leading PV inverter system solution supplier with over 31GW installed worldwide as of December 2016.

fast-growing Indian market. SG1000, SG 2000 & SG2500 (1 MW, 2 MW & 2.5 MW respectively) are our offerings for 1000 V outdoor central inverters solutions. The future demand for 1500 V range of central inverters are catered by SG1250HV, SG1500HV (1.25 & 1.5 MW indoor inverters) backed by SG2500HV & SG3000HV(2.5 MW & 3 MW) Containerised solutions. SG33KTL, SG50KTL & SG60KTL are being promoted in the string inverter arena. All the offered products in India boosts a maximum efficiency of 99% making it complementing to its engineering & reliability

EQ: What are your plans for India, your view on the GOI target of 100GW Solar Power by 2022

WZ : India is one of the key focus for the whole world and Sungrow as well. And being one of the top 3 brands in solar inverter industry with appreciable response from customerswe will be finishing 3GW orders by 2017. Also, the present solar industry is such that the prices are going down and customers are seeking more reliablility, Sungrow will be able to fulfill with the requirements and when we talk about GOi target of 100GW by 2022, Sungrow will be sharing 30-35%.

EQ: What are your plans for Manufacturing set up in India, the opportunities and challenges in manufacturing in India WZ : India is a growing market and world is focusing over it for investments. Sungrow India also have some ideas to setup the manufacturing units. Even a Sungrow team from china has visited India in the same regards and explored some regions. Also, GST implementation will be playing a role for the same, so we are keeping an eye over GST implementation and manufacturing units setup plans will be taken care accordingly.

EQ: Briefly describe the various technologies and its suitable applications such as Central Inverter, String, Micro Inverter, 1500V, Outdoor, Container solutions etc.. WZ : Sungrow offers a wide range of products which include central inverter/ container solutions for 1000V & 1500 V and string inverters for the

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EQ: How much is your R&D budget as % of your sales / profits

WZ : Over 4.3% of R&D/Revenue ratio in 2016.

EQ: What are the top 5 markets for your company in the past, present and future WZ : China, APAC (excl. China and India), EMEA, India and NA are top markets for Sungrow

EQ: Technology road map in terms of 1500V , micro inverters, upcoming game changes technologies.

WZ : In 2016, Sungrow has unveiled the world’s highest output string inverter – rated at 125kW (1500Vdc) – and became the first PV inverter supplier that provides both central and string inverters rated at 1500Vdc. Featured 1500Vdc central inverters are SG1250HV, SG1500HV (1.25 & 1.5 MW indoor inverters) backed

by SG2500HV & SG3000HV(2.5 MW & 3 MW) Containerized solutions.

EQ: Explain various guarantees, warrantees, insurance, certifications, test results, performance report of your inverters.

WZ : Sungrow’s products are certified for applications worldwide. The com pany has invested its own in-house testing center approved by UL, CSA, TÜV Rheinland, and TÜV SÜD.

EQ: Kindly highlight your product, technology & company USP’s, distinctive advantages etc… WZ : Founded in 1997 by University Professor Renxian Cao, Sungrow is a global leader in research and development in solar inverters, with numerous patents and a broad product portfolio offering PV inverter systems for utility-scale, commercial, and residential applications. With a 20-year track record of growth and success, Sungrow possesses a dynamic R&D team which accounts for over 35% of the company’s total workforce. The company has also invested its own inhouse testing center approved by UL, CSA, TÜV Rheinland, and TÜV SÜD. In 2016, Sungrow has unveiled the world’s highest output string inverter – rated at 125kW (1500Vdc) – and became the first PV inverter supplier that provides both central and string inverters rated at 1500Vdc.

EQ: What’s your commitment towards the solar sector in India

WZ : India is one of the most focused markets for Sungrow in the world. Sungrow India currently has its sales team operating from Bangalore, Gurgaon& Mumbai, backed by a well experienced technical support team. A very strong, well structured & established service team with PAN India presence ensures the dependency and our sustainable growth in India.

EQ: What will be the cost, technology trends in solar inverters

WZ : The cost will continue to decrease and there is a trend of transferring to 1500Vdc technology.

August 2017

RENEWABLE ENERGY

GREENING THE GRID :

Pathways to Integrate 175 Gigawatts of Renewable Energy into India’s Electric Grid The use of renewable energy (RE) sources, primarily wind and solar generation, is poised to grow significantly within the Indian power system. The Government of India has established a target of 175 gigawatts (GW) of installed RE capacity by 2022, including 60 GW of wind and 100 GW of solar, up from 29 GW wind and 9 GW solar at the beginning of 2017. Thanks to advanced weather and power system modeling made for this project, the study team is able to explore operational impacts of meeting India’s RE targets and identify actions that may be favorable for integration.

ur primary tool is a detailed production cost model, which simulates optimal scheduling and dispatch of available generation in a future year (2022) by minimizing total production costs subject to physical, operational, and market constraints. We use this model to identify how the India power system is balanced every 15 minutes, the same dispatch interval used by power system operators. The results can be used to inform policy and regulatory decisions that support system flexibility and RE investment.

KEY FINDINGS: How India's Power System Could Operate with 100 GW Solar and 60 GW Wind Power system balancing with 100 GW of solar and 60 GW of wind is achievable at 15-minute operational time scales with minimal RE curtailment. This RE capacity generates 370 terawatt hours (TWh) annually, a 22% share of total electricity consumption in India, reaching a nationwide instantaneous peak of 54%. Annual RE curtailment (assuming sufficient in-state transmission) is 1.4%, consistent with experiences in other countries with this level of RE penetration. Fuel requirements for coal and gas fall 20% and 32%, respectively, and CO2 emissions fall 21% (280 million tonnes) in 100S-60W compared to a No New RE scenario. As a result, plant load factors for coal drop from 63% to 50% with nearly 20 GW that is never economical to start.

August 2017

Changes to operational practice can reduce the cost of operating the power system and reduce RE curtailment, but are not essential for 160 GW RE integration. Scheduling and dispatch that is optimized at the regional, rather than state level can support more efficient operations of thermal plants and reduce annual operating costs by 2.8%, or INR 6300 crore1 (approximately USD 980 million).2 In addition to improving access to least-cost generation, coordination between states helps reduce the number of coal plants at part load, providing greater operational range to the remaining committed coal plants to lower generation output when RE generation is high. National coordination provides even further cost savings (3.5% savings) and reduced RE curtailment (to 0.9%).

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RENEWABLE ENERGY

Reducing minimum generation levels of large thermal plants is the biggest driver to reducing RE curtailment. Changing minimum generation levels of all coal plants, from 70% today to 55% of rated capacity (consistent with the CERC regulations) reduces RE curtailment from 3.5% to 1.4% and annual operating cost by 0.9%, or INR 2000 crore. Reducing minimum generation levels further, to 40%, reduces RE curtailment to 0.76%, with negligible decreases to annual operating costs.3 If only centrally owned plants achieve 55% minimum generation levels but state-controlled plants maintain minimum generation levels of 70%, RE curtailment is 2.4%. The peak systemwide 1-hour up-ramp increases 27% compared to a system with no new renewables, to almost 32 GW up from 25 GW. This ramp rate can be met if all generating stations exploit their inherent ramping capability. Aggregated nationally, for 56 hours of the year, system-wide up-ramps exceed 25 GW/hour, greater than any ramp requirement in the No New RE scenario, and peak at almost 32 GW/hour. The current generation fleet is shown to successfully respond to these ramp events within our operating assumptions. We found no significant change in either production cost or RE curtailment when coal generation ramp rates were made less flexible in the simulations, although this study assumes a similar load shape for 2022 as prevailing today. A significant change in load shape could affect the net load ramp rate. Five-minute scheduling and dispatch has been demonstrated elsewhere to better handle ramping, if required at a later stage.

RA copper plate sensitivity delivers 4.7% savings and 0.13% RE curtailment. Our “copper plate” represents a transmission system with no constraints and operations with no barriers to scheduling. Though not a physically plausible scenario, this scenario provides insights into the maximum achievable savings if all transmission and market constraints could be relaxed. Such a scenario reduces RE curtailment to 0.13% and production costs by 4.7%. In comparison, scheduling and dispatch optimized at the regional level and with transmission constraints delivers over half of these savings. Nationally coordinated dispatch combined with an additional 25% interregional transmission capacity delivers 84% of the savings compared to the idealized copper plate. Batteries insignificantly impact emissions and total cost of generation. Batteries do reduce curtailment (from 1.4% to 1.1%); however, the value of this curtailment is offset by the batteries’ efficiency losses during operation. In the 100S-60W scenario, 2.5 GW of batteries (75% efficient) reduce RE curtailment by 1.2 TWh annually but lose 2.0 TWh annually due to inefficiencies. Also, there is insignificant impact on the total cost of generation because the overall generation mix changes little. Batteries could be economically desirable for RE integration for grid services that are outside the scope of the study (e.g., frequency regulation, capacity value, local transmission congestion). Retiring 46 GW of coal (20% of installed coal capacity) does not adversely affect system flexibility, assuming adequate in-state transmission. Retiring coal plants that operate less than 15% of their capacity annually (205 generation units, totaling 46 GW in capacity) has almost no effect on system operations.

Summary: Power system balancing with 100 GW of solar and 60 GW of wind is achievable with minimal integration challenges, bringing benefits of reduced fuel consumption and emissions. Meeting existing regulatory targets for coal flexibility, enlarging geographic and electrical balancing areas, expanding transmission in strategic locations, and planning for future flexibility can enable efficient and reliable operation of the power system now and in the future.

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August 2017

RENEWABLE ENERGY KEY FINDINGS: Different Pathways to Meeting RE Targets; Looking Beyond 2022 Potential Planning and Policy Actions that Can Support RE Integration A wind-dominated system achieves higher RE penetration rates and requires less thermal fleet flexibility. Compared to the official RE targets, a scenario with more wind (100 GW wind, 60 GW solar), helps achieve a higher annual RE penetration rate (26% compared to 22%, due to windâ&#x20AC;&#x2122;s higher capacity factors), reduces CO2 emissions an additional 6.1%, and has less RE curtailment, 1.0% compared to 1.4%. Because of its relatively less variable net load profile, the higher wind scenario creates fewer conditions requiring thermal plant flexibility. A 250 GW RE system could achieve Indiaâ&#x20AC;&#x2122;s Nationally Determined Contribution targets, but 16% annual RE curtailment in the Southern region would likely signal the need for modified strategies. To identify a more viable pathway toward 250 GW, additional studies can evaluate the tradeoff among increasing system flexibility versus locating more of the RE capacity in other regions.

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1. Coordinate RE generation and transmission at the state level to ensure sufficient in-state transmission. 2. Create regulatory or policy guidelines to support institutionalization of costoptimized capacity expansion planning. Create and maintain a nationwide model that helps optimize generation and transmission buildouts, which can then be used to inform investment decisions and RE policies. 3. Evaluate options for enhanced coordination of scheduling and dispatch between states and regions. 4. Establish at central and state levels comprehensive regulations regarding flexibility of conventional generators, including minimum generation levels, ramp rates, and minimum up and down times. 5. Develop a new tariff structure that moves away from focusing on energy delivery. Agreements can specify various performance criteria, such as ramping, specified start-up or shut-down times, minimum generation levels, along with notification times and performance objectives that achieve flexibility goals. 6. Revise policy/regulatory-level guidelines to utilize the full capability of hydro and pumped hydro stations. Suitable incentive mechanisms can encourage

operation of hydro and pumped hydro depending upon system requirements. 7. Use the regulatory platform to require merit order dispatch based on production costs; supplementary software may be required to identify economic scheduling and dispatch that considers the combined effects of conventional and renewable variable costs, transmission congestion and losses, among other factors. 8. Create model PPAs for RE that move away from must-run status and employ alternative approaches to limit financial risks, such as annual caps on curtailed hours. 9. Achieving more ambitious RE levels will benefit from detailed, model-based planning, including both capacity expansion and production cost modeling. Regulatory guidelines may be issued to make it mandatory for stakeholders to provide data required to perform such studies. 10. Equip all states with latest and stateof-the-art load forecasting facilities. In addition, equip RE-rich states with state-of-the-art RE forecasting tools. Further, build capacity of all system operators in this regard so that in-house capability is developed to create and customize such tools in the future.

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RENEWABLE ENERGY

India Can Integrate 175 Gigawatts of Renewable Energy into the Electricity Grid, Reveals Study Union Minister of State (IC) for Power, Coal, New & Renewable Energy, Shri Piyush Goyal released the first part of the study “Pathways to Integrate 175 Gigawatts of Renewable Energy into India’s Electricity Grid” at an event organized. The second volume, to be released in July, takes a more in-depth look at system operations in the Western and Southern regions.

he study, developed under the U.S.India bilateral program “Greening the Grid”, confirms the technical and economic viability of integrating 175 gigawatts (GW) of renewable energy into India’s power grid by 2022, and identifies future course of actions that are favorable for such integration. The Government of India in 2015 had set the ambitious target of adding 100 GW of solar energy and 60 GW of wind energy into the country’s energy mix. The report resolves many questions about how India’s electricity grid can manage the variability and uncertainty of adding large amounts of renewable energy into the grid. The results demonstrate that power system balancing with 100 GW solar and 60 GW wind is achievable at 15-minute operational timescales with minimal reduction in renewable energy output. India’s current coaldominated power system has the inherent flexibility to accommodate the variability associated with the targeted renewable energy capacities.

Some of the key operational impacts that came out of the report were: (1) large-scale benefits of fuel savings and reduced emissions due to increased renewable energy production. (2) existing fast-ramping infrastructure is sufficient to maintain grid balance. (3) In post-175 GW clean energy scenario, coal plants operating at part capacity will need suitable incentives for flexibility. The study also evaluates the value of strategies to better integrate renewable energy and demonstrates the importance of policy and market planning. A multi-institutional team from India’s Power System Operation Corporation (POSOCO) and the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) and Lawrence Berkeley National Laboratory (LBNL) produced the report using advanced weather and power system modeling, under the leadership of Ministry of Power and the U.S. Agency for International Development (USAID) with co-sponsorship from the World Bank Energy Sector Management Assistance Program (ESMAP) and the 21st Century Power Partnership.

Speaking at the launch, Power Minister Piyush Goyal said: “It is time for the people of India to get ready and embrace the change with a ‘New Mindset’ of a ‘New Grid’ for a ‘New India’, which is ready to integrate large amount of renewable energy. It is appropriate time following on Honorable Prime Minister’s meeting with the U.S. President under a robust and focused U.S.-India Energy Partnership. The ministry is extremely appreciative of the continued engagement and support from USAID and congratulates all the stakeholders including POSOCO, NREL, LBNL on the achievement of this outcome. Combined and collaborative efforts such as these are labour and data intensive and detailed and often go unsung but are critical to creating the backbone for a reliable grid.” Highlighting the importance of the study and U.S.-India collaboration on clean energy, Michael Satin, Director of Clean Energy and Environment at USAID/India, said: “USAID has a long-standing collaboration with the Government of India in the area of energy. Energy is a key determinant of growth and India needs sustainable energy sources to continue to grow at 7-8 percent annually. Introducing renewable energy solutions into established energy systems often requires changes to well-established policy, institutions, and market structures. This study will prove to be helpful in scaling up renewable energy in India effectively and sustainably.” The results were based on a number of key assumptions including transmission planning existing within each state but not necessarily on corridors between states; compliance of all coal plants with the Central Electricity Regulatory Commission regulation that coal plants be able to operate at 55 percent of rated capacity; and a better load forecast. Input data, assumptions and study results were validated extensively by more than 150 technical experts from central agencies including the Central Electricity Authority, Power Grid Corporation of India Ltd. (PGCIL), and NTPC; state institutions including grid operators, power system planners, renewable energy nodal agencies and distribution utilities; and the private sector, including renewable energy developers, thermal plant operators, utilities, research institutions, market operators and industry representatives. Other Dignitaries present on the occasion were Shri P.K. Pujari, Secretary Power, Shri R.K. Verma, CEA Chairman, Shri K.V.S. Baba, CEO, POSOCO, Shri I.S Jha, CMD PGCIL and other senior officers from Ministries of Power and MNRE. Source: pib.nic.in

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August 2017

RESEARCH & ANALYSIS

GREENING INDIA’S WORKFORCE

Gearing up for Expansion of Solar and Wind Power in India

Article By Natural Resources Defense Council and Council on Energy, Environment and Water Renewable energy job creation and skill development is one of the Indian government’s foremost objectives. However, credible information on the number of jobs that have been created so far, and those that can be created in future to achieve India’s renewable energy goal of 175 gigawatts (GW) by 2022, has been lacking.1

n an effort to fill this information gap, NRDC and CEEW conduct annual surveys of India’s solar and wind companies, developers, and manufacturers to collect accurate, marketbased information on jobs created, workforce employed, and the skills required to achieve India’s renewable energy goals. This analysis builds on our previous reports on clean energy jobs in India. Our earlier analyses focused on renewable energy job creation, shortterm and long-term. This report updates and translates those figures into actual full-time employment and workforce requirements.

The key findings of our 2017 analysis are: (1) Over 300,000 workers will be employed in the next 5 years, to achieve India’s solar and wind energy targets, mostly in the rooftop solar sector. (2) A strong domestic solar module manufacturing industry has the potential to provide employment for an additional 45,000 people in India. (3) Solar and wind energy employed more than 21,000 people in India in 2016-2017, and are expected to employ an estimated 25,000 people or more in the following year. (4) Solar jobs will be well distributed across the country, while wind jobs will be concentrated in a few states. (5) Rooftop solar is more labour-intensive than other renewables, providing 24.72 job-years per megawatt (MW) in comparison to 3.45 job-years per MW for ground-mounted solar and 1.27 job-years per MW for wind power.

National and state governments should promote reporting of employment generation from renewable energy companies; provide a greater policy priority to rooftop solar to create renewable energy jobs; support development of localized private sector-led training centres for solar construction jobs and wind power training centres in the 8 states with wind targets; and, promote a strong domestic solar module manufacturing industry to provide additional employment.

August 2017

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RESEARCH & ANALYSIS 1. Introduction

ajor economies around the world, are expanding the share of increasingly cost-competitive renewable energy technologies in their energy mix. These technologies generate critical energy for growth, add new jobs to the economy, and provide livelihoods for millions. The International Renewable Energy Agency estimates that renewable energy, excluding large hydropower, employed 8.3 million people globally, in 2016.2 Renewable energy job creation and skill development is one of the Indian government’s foremost objectives. However, credible information on the number of jobs that have been created so far, and those that can be created in the future to achieve India’s renewable energy goal of 175 GW by 2022, has been lacking.3,4 In an effort to fill this information gap, every year for the past three years, NRDC and CEEW have surveyed India’s solar and wind companies, developers, and manufacturers to collect accurate, market-based information on jobs created, workforce employed, and the skills required to achieve India’s renewable energy goals. We have used market information to estimate the workforce that would be required in India at any given time to meet the 2017 – 2022 national goals for annual capacity addition of solar and wind (160 GW), including ground-mounted and rooftop solar. We also estimate the number of jobs created by solar module manufacturing, as well as those that can be created if India meets its demand for solar modules domestically. By estimating the employment impact from clean energy growth, our analysis offers actionable information to support and strengthen national and state-level policy and build support for renewable energy expansion in India.

Estimating Renewable Jobs and Skills Since 2014

lthough common practice internationally, companies in India do not always selfreport the number of jobs created with each new solar or wind project. Our analyses strive to bridge this information gap. Every year since 2014, NRDC and CEEW have surveyed solar and wind companies to estimate numbers of job created, identify skills required, and make policy recommendations that create conditions favourable for growth of clean energy in India. This report builds on our previous analyses on job creation, Clean Energy Powers Local Job Growth in India, and Filling the Skill Gap in India’s Clean Energy Market, with an enhanced scope that includes solar rooftop developers and solar module manufacturing companies5. Our previous research estimated that expanding solar and wind energy would add about 1 million cumulative jobs for solar installers, maintenance workers, engineers, technicians, and performance data monitors while addressing growing energy demands and global climate change.

2. Scope of Analysis: Direct Solar & Wind Project-Related Jobs and Solar Manufacturing Jobs

mployment in any industry, including renewables, can be broadly classified in three categories: direct, indirect and induced. For this analysis, we estimate the direct jobs as well as portion of the indirect jobs (manufacturing) created from solar and wind projects in India. This analysis does not include induced jobs and some of the indirect jobs, for example, those in the financing and banking sectors, or those created for data analytics or meter readers in distribu-

tion companies, since those jobs may not be specific to the solar or wind sectors. For solar manufacturing, we have only considered module manufacturing jobs and not included other components such as inverters, cables and other balance of system components in order to calculate jobs created on account the solar power sector. Specific examples defining direct, indirect and induced jobs are described in the text box below.

DIFFERENCE BETWEEN DIRECT JOBS, INDIRECT JOBS AND INDUCED JOBS7 Direct jobs, earnings, and output are the jobs associated with the design, development, management, construction/ installation, and maintenance of projects and project facilities. For example, in installing a PV or large wind system, the direct impacts include the jobs for specialty contractors, construction workers, clean-up crews, truck drivers, and other specialists hired to permit, design, and install the system. It also includes management, business development and support staff.

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Indirect jobs are the jobs associated with the manufacturing of equipment and materials used for the facility, the supply chain that provides raw materials and services to these manufacturers, and the finance and banking sectors that provide services for the construction and operation of a facility. For example, for a wind facility, this would include jobs at wind turbine manufacturing plants and jobs at other manufacturing facilities that fabricate structural hardware, foundations, and electrical components for the wind facility’s systems. It also includes the banker who fi- nances the construction contractor, the accountant who keeps the contractor’s books, and the jobs at steel mills and other suppliers that provide the necessary materials.

Induced jobs refer to the jobs created due to the spend- ing of earnings by persons directly and indirectly employed by the projects (workers in the first two categories). For example, during the construction phase of a facility, jobs are induced when the workers hired to install a PV system spend their earnings to purchase food at grocery stores and restaurants, pay rent, and purchase clothes or other goods to meet their needs.

August 2017

RESEARCH & ANALYSIS

Tasks performed during the project lifecycle are classified as per the following phases of project deployment: business development, design and pre-construction, construction and commissioning and operations and maintenance, as described in figure 1.6 Each project development phase creates direct, indirect and induced employment.

3. Methodology and Data Sample: Primary Market Surveys Methodology

Jobs vs. Workforce/Manpower: An Explainer

n our 2015 analysis, Clean Energy Powers Local Job Growth in India, we estimated that scaling up grid-connected solar and wind energy would add a cumulative 1 million jobs for solar construction workers, installers, maintenance works, engineers, technicians, and plant operators between 2015 and 2022. These jobs include short-term jobs for business development, design and pre-commissioning, and construction and commissioning, as well as long-term jobs for operation and maintenance and performance monitoring. Jobs created, however, is different from workforce needed. One worker can perform more than one job because some of the jobs are short-term As a hypothetical example, assume the country has an installed capacity of 5 GW that has been deployed with a workforce of 1,500 people. In order to deploy an additional 15 GW in the following year, we would need those 1,500 people who have already been trained to deploy 5 of 15 GW as well as an additional 3,000 people to deploy the remaining 10 GW. The workforce required, therefore, is only the new 3,000 people that would need training. However, the jobs created totals 4,500 for the entire 15 GW of deployment. In this analysis, we estimate the workforce required, i.e., number of workers needed to perform these 1 million jobs based on the planned capacity addition of grid-connected solar and wind energy between 2017 and 2022.

he study estimates workforce required for deployment of ground-mounted and rooftop solar photovoltaic projects, solar photovoltaic module manufacturing and wind projects in India. These estimates represent direct employment in the respective sectors. The estimates are based on primary data collected from multiple organisations engaging in project deployment activities. This includes, solar module and windmill manufacturers, project developers, engineering, procurement and construction (EPC) companies and turnkey solution providers.

o determine solar and wind workforce numbers, we developed a detailed survey questionnaire, aimed at capturing key employment information for each of the four phases of ground-mounted solar, rooftop solar and wind project deployment. We developed a second questionnaire focused on solar manufacturing to tabulate the number of jobs created in this sector. The survey questionnaires also capture information related to employment potential at organisation level and distribution of skilled, semi-skilled and unskilled manpower in each stage of project deployment.

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e used the data collected from the survey to calculate the workforce numbers and job-years per megawatt (MW) or the full time equivalent (FTE) per MW. We calculated FTE per MW numbers separately for each phase of solar and wind project deployment. We used these FTE numbers as coefficients to estimate the total workforce expected to be employed in the solar and wind energy project deployment process based on excess capacity to be added every year between now and 2022.

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RESEARCH & ANALYSIS

One-time vs. Full-time Employment

he first three phases of project deployment (i.e. business development, design and pre-construction, as well as construction and pre-commissioning) create oneâ&#x20AC;&#x201C;time jobs. For example, once the project is designed or constructed, the employment generated from those functions is terminated and the workforce employed for those functions moves on to the next project. For the last phase of the project (i.e. operations and maintenance), the employment generated lasts for the lifetime of the project. The full time equivalent (FTE) coefficient or job-year is sim- ply a ratio of the time spent by an employee on a particular project/task in a given year to the standard total working hours in that particular year. The FTE formula translates short-term or one-time employment into a full-time equivalent or job-year. Therefore, all numbers in this report correspond to full-time equivalent employment.

Survey Sample

he survey respondents included 37 solar companies, 8 solar manufacturers, and 9 wind companies from the industry representing the complete value chain of the project deployment cycle, including contractors, power producers and turnkey solution providers. The survey responses represent diversity in terms of geographical distribution of respondents; small, mid and large-scale companies based on number of employees and their portfolio of solar and wind projects; individual project size; and consumer segment to represent a good range from the entire spectrum of renewable companies in India.

Source: CEEW-NRDC Analysis

SOLAR DEVELOPERS

or solar, both ground-mounted and rooftop, a total of 37 companies responded to the survey, with 60 percent of the companies developing ground-mounted plants and 40 percent developing rooftop solar projects. The rooftop solar respondents represent those that develop residential, commercial, industrial and institutional projects.

Source: CEEW-NRDC Analysis

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Solar respondents are well distributed across India to capture the diversity in employment generated based on geographic location.

Source: CEEW-NRDC Analysis

August 2017

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RESEARCH & ANALYSIS

he solar respondents represent, small, mid and largescale companies, based on number of employees and operational solar capacity. For solar power, both groundmounted and rooftop, about 47 percent of the companies surveyed have between 100 to 250 employees representing a good range of small to large companies. Of the respondents, about 40 percent of the companies have deployed more than 200 MW of solar capacity each and about 40 percent control capacities of less than 50 MW. This highlights the participation of early stage companies in our survey.

owever, the survey data for wind manufacturing companies is not as granular as that for solar companies. Because of the nature of the wind industry, with many companies taking on multiple functions, segregation by phase and job type to estimate job-years or FTE per MW in the wind manufacturing industry is challenging and complex. Companies perform different tasks, both in terms of project deployment as well as component manufacturing. For example, it becomes difficult to estimate job-years per MW for a company that manufactures different wind equipment in different quantities and also does project deployment.

SOLAR MODULE DEVELOPERS

epresentatives of eight of India’s leading solar module manufacturing companies, eight companies with cumulative production of more than 1,500 MW, responded to our surveys. Respondents include smaller companies with a manufacturing capacity of about 5 MW per year as well as some of the larger manufactures with upwards of 500 MW of annual production capacity.

Source: CEEW-NRDC Analysis

Respondents from the solar module manufacturing segment represents small, mid and large-scale companies, based on annual production capacity and total employee strength.

Source: CEEW-NRDC Analysis

WIND DEVELOPERS

or wind, respondents represent close to 15,000 MW of installed wind capacity – about half the total installed capacity in the country. Respondents reflect a fair share of wind companies involved in different functions throughout the entire lifecycle of a wind energy project, including component manufacturers, power producers, installers and turnkey solutions providers.

August 2017

Source: CEEW-NRDC Analysis

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RESEARCH & ANALYSIS

4. Analysis: Estimating Job-Years Per MW for Solar and Wind Projects; and Solar Module Manufacturing

his section includes estimates of full-time equivalent (FTE) or job-year per MW for each phase of ground-mounted solar, rooftop solar and wind project deployment from business development, design and pre-construction, construction and commissioning as well as operations and maintenance. Similarly, FTE or job-year per MW estimates are also calculated for solar PV module manufacturing in India.

ccording to the analysis, rooftop solar projects create the maximum jobyears per MW: 24.72 job-years per MW. This sector is followed first by ground-mounted solar projects, which create around 3.45 job-years per MW, and then by wind projects, which create 1.27 job-year per MW. Solar photovoltaic module manufacturing also creates employment of 2.60 job-years per MW of modules manufactured. Employment generation potential in each phase of solar and wind project deployment from business development to operations and maintenance is discussed in the following sub sections.

GROUND-MOUNTED SOLAR PROJECTS

usiness development related activities create about 0.05 job-year per MW (FTE) from ground-mounted solar PV plant installations. Employment in this phase primarily requires skilled manpower. Some companies, however, also mentioned engaging semi-skilled manpower to facilitate land procurement and coordination with local organisations at the location of the project.

uring design and pre-construction phase, about 0.20 job-years per MW are created from ground-mounted solar PV plant installations. About 60 percent of total manpower engaged in this phase of project deployment are skilled. About 30 percent are semi-skilled and a small portion of manpower (about 10 percent) is unskilled, associated primarily with site survey and pre-feasibility related activities in this phase.

he construction and precommissioning phase creates the maximum employment for ground-mounted solar power, generating 2.70 job-years per MW. This also includes contract labourers deployed for the construction of entire plant. More than 50 percent of the jobs created in construction and pre-commissioning phase employ unskilled manpower.

Source: CEEW-NRDC Analysis

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August 2017

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RESEARCH & ANALYSIS

ROOFTOP SOLAR PROJECTS

usiness development related activities in the rooftop solar sector creates more jobs than the same activities for the ground-mounted utility scale solar sector. Rooftop installation of a solar PV project create about 1.53 job-years per MW. This relatively high job creation is primarily due to the small size of individual projects and the necessity of reaching out to a large consumer base.

or the rooftop projects, design and construction phase can be categorised as a single phase since design teams themselves oversee construction and commissioning of a solar PV project at consumer sites. In this phase, about 8.85 job-years per MW are created, with most of them requiring skilled (72 percent) and semi-skilled (20 percent) manpower.

WIND POWER PROJECTS

A W

bout 0.06 job-years per MW are created during the business development phase of wind power projects. These jobs are primarily skilled in nature.

ind project design and pre-construction related activities create 0.11 job-years per MW. Construction and commissioning of a wind plant creates 0.6 job-years per MW and operation and maintenance creates 0.5 job-years per MW.

n total, the wind industry creates about 1.27 job-years per MW from wind project deployment in India. This is lower than total employment generated from solar project deployment.

he solar rooftop companies still require additional construction workers to undertake activities, which they either outsource to contractors or hire construction workers inde- pendently for a particular project. This leads to employment generation of 13.84 job-years per MW during the construction and precommissioning phase.

ome smaller companies that operate on the capital expenditure (CAPEX) model, in which the rooftop owners invest equity in the plant, do not have dedicated operations and maintenance teams. In such cases, the rooftop owners themselves do the regular cleaning and maintenance-related work. However, even relatively larger companies such as Cleanmax and Azure Power or other smaller companies that operate n the operating expenditure (OPEX) models outsource the operations and maintenance of their plants. The employment generated from rooftop operation and maintenance activities is about 0.50 jobyears per MW in either scenario.

Source: CEEW-NRDC Analysis

About 70 percent of the respondents mentioned that the average employee works on at least two projects simultaneously during the business development phase. The remaining 30 percent stated that their employees work on at least three or more projects simultaneously. About 60 percent of respondents indicated that an individual employee works on at least two projects simultaneously during the design phase. During the construction and operations and maintenance phases, however, each employee is assigned to only one specific project at a time.

SOLAR MANUFACTURING

O Source: CEEW-NRDC Analysis

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ur analysis estimates that the solar module manufacturing sector generates an average of 2.60 job-years per MW. Com- panies with an annual production capacity of below 50 MW require about 35 percent more personnel than companies with higher capacities. The employment generation factor or the job-years per MW vary marginally with an increase in production capacity of above 200 MW.

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RESEARCH & ANALYSIS

n the solar module manufacturing sector, all the jobs are continuous in nature. According to the analysis, in a typical solar module manufacturing facility, more than 70 percent of the employees are engaged in production activities.

T Source: CEEW-NRDC Analysis

his is followed by senior management, administration and accounts staff at 14 percent.

5. Discussion and Key Findings Finding 1: Over 300,000 workers will be employed in the next 5 years, to achieve India’s solar and wind targets

ur analysis estimates that achieving India’s solar and wind energy goals by 2022 will provide full-time-equivalent new employment to 331,210 people in the country.8 These workers will need to be trained to undertake over 1 million employment opportunities (short-term and long-term cumulatively) that will be created in achieving India’s clean energy targets.9 Of the more than 300,000 workers, 237,980, or about two- thirds, will work in rooftop solar and the rest in groundmounted solar and wind industries. Further, for ground-mounted solar projects, the employment coefficients are higher for smaller projects, sized between 1 – 5 MW, in comparison to large projects sized above 50 MW. This implies that if the deployment of 60 GW of ground-mounted solar constitutes more small-sized projects, this would result in greater employment generation or a higher workforce requirement to deploy the same capacity in bigger sized projects.10

Source: CEEW-NRDC Analysis

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August 2017

RESEARCH & ANALYSIS In total, the wind industry creates about 1.27 job-years per MW, lower than the total employment generated during solar project deployment.

Source: CEEW-NRDC Analysis

Finding 2: In 2016-2017, solar and wind energy projects in India added more than 21,000 new jobs for the economy. In 2017-2018, most solar and wind companies expect to increase their workforce by at least 10 percent and employ an estimated 25,000-plus people.

Source: CEEW-NRDC Analysis

ased on our analysis of job-year per MW of employment generated from ground-mounted solar, rooftop solar and wind project deployment, 21,192 additional workers were employed in the financial year (FY) 2016 – 2017. An excess capacity addition of 2.5 GW of ground-mounted solar, 500 MW of rooftop solar and about 2 GW of wind power supported more than 600 business development personnel, more than 3,000 design and pre-construction personnel, more than 11,000 people for constructing and commissioning these projects and more than 5,000 people to operate and maintain these plants.11

August 2017

For the coming year, two thirds of the groundmounted solar respondents expect to increase their workforce in 2017 –Design and Pre-Construction 395 2018. Of the 60 percent respondents, half (about 34 percent) Construction and 5,330 expect that increase to exceed 10 percent. About 36 percent of the respondents expect an increase in the number of employees by up to 10 percent, while 7 percent expect no change. This growth is linked to the growing footprint of Indi- an companies in domestic and international markets. About one-fifth (23 percent) of respondents, most of which are large engineering, procurement, and construction (EPC) companies, expect some decline in workforce. The expected decrease could be linked to growing competition in the sector and the improving efficiency of available manpower per project.

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RESEARCH & ANALYSIS

imilarly, all the wind power companies surveyed plan to increase their workforce in FY18 by at least 10 percent. In the coming year, 2017 - 2018, we estimate that new groundmounted solar, rooftop solar, and wind power capacity additions will employ an additional 25,481 people. This includes more than 1,000 people for business development, more than 5,000 people for design and pre-construction, and almost 20,000 people for construction and commissioning. Annual additional employment generation in solar sector, both ground-mounted and rooftop is expected to increase by almost 80 percent, whereas for wind sector it will come down by about 18 percent.

Source: CEEW-NRDC Analysis

In total, over the next three years from 2017 to 2020, employment for about 80,000 additional people will be generated in India.

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Source: CEEW-NRDC Analysis

Finding 3: Solar module manufacturing could employ about 45,000 people if demand for modules is met domestically in India

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RESEARCH & ANALYSIS

e estimate that solar module manufacturing currently employs close to 2,900 people. With Indiaâ&#x20AC;&#x2122;s reported plan to announce a policy for competitive domestic solar module manufacturing, all solar manufacturing companies surveyed expect to increase their workforce in FY 2017-2018. In fact, one fourth of them expect an increase in excess of 40 percent. Further, we estimate that the domestic solar module manufacturing industry in India could employ an additional 45,000 people if the demand for solar modules is met domestically in India. Source: CEEW-NRDC Analysis

Finding 4: Solar power jobs will be well distributed across the country, while wind power jobs will be concentrated in a few states

Solar resources in India are well distributed across the country12. State-wise installation targets for ground-mounted solar projects and rooftop solar projects set by the Ministry of New and Renewable Energy also reflect the same geographical diversity. Based on the Ministry targets, we estimated state workforce requirements. Based on our analysis, Maharashtra and Uttar Pradesh are estimated to have the most number of solar jobs in the country. Wind jobs, however, are likely to be concentrated in the states that have high wind potential. According to the Ministry of New & Renewable Energy, 8 states have wind installation targets between 2017 and 2022.13 These include Rajasthan in the north, Gujarat, Madhya Pradesh, and Maharashtra in the west, and Andhra Pradesh, Telangana, Tamil Nadu, and Karnataka in the South.

Source: CEEW-NRDC Analysis

Finding 5: Rooftop solar is more workforce-intensive than other renewables, providing 24.72 job-years per MW in comparison to 3.45 job-years per MW for ground-mounted solar and 1.27 job- years per MW for wind power

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RESEARCH & ANALYSIS

ompared to ground-mounted solar (3.45 jobyears per MW) and wind (1.27 job-years per MW), rooftop solar has the most workforce intensive project deployment at 24.72 job-years per MW. This is due to the smaller project sizes compared to ground-mounted solar or wind, which means that more people are required for installations.

Source: CEEW-NRDC Analysis

6. Key Policy Recommendations and Conclusion

ur analysis serves to further illustrate wind and solar employment opportunities in India as the nation moves toward its 2022 renewable energy targets, and can be used to design and implement clean energy policies at the state and national levels. The solar manufacturing employment potential highlighted here can serve to help the industry prepare.

Based on our analysis, national and state governments should focus on job creation as a key policy area for solar and wind sectors in the country. Specifically, governments can a. Encourage reporting of employment generation from renewable energy companies;

sector to source construction jobs locally since solar jobs are well distributed among states;

b. Provide a greater impetus and policy priority to rooftop solar to create renewable energy jobs and meet the gov- ernmentâ&#x20AC;&#x2122;s employment objectives;

d. Develop wind power training centres on the basis of state-specific wind targets in 8 states; and

c. Support development of localized training centres led by the private

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e. Promote a strong domestic solar module manufacturing industry to provide employment to an additional 45,000 people in India.

August 2017

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E LECTRIC VEHICLES

When Will Electric Vehicles be Cheaper than Conventional Vehicles ? Article By Nikolas Soulopoulos @BloombergNEF

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Automotive manufacturers have set ambitious plans for electrifying their fleets in the next few years. Still, there are many concerns over the price of electric vehicles, their acceptance by consumers and their effect on companiesâ&#x20AC;&#x2122; profitability. In this note, we analyse the cost structure of electric cars to show the contribution of various components and the trajectory of future costs.

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E LECTRIC VEHICLES Battery electric cars will be more expensive than equivalent internal combustion engine vehicles for the next 7-9 years, depending on segment. By the end of the 2020’s, the average BEV in the US and Europe will be cheaper than a comparable ICE in all market segments, though for small cars the gap will be marginal. We believe that these price signals will drive the mass adoption of EVs. l

Cost reductions are highly reliant on mass manufacturing – both of vehicles and batteries. Policy is critical here, since tough fuel economy regulations play an important role in driving the scale-up in EV manufacturing over the next 5-7 years.

Watering down fuel economy rules in the US and other countries has the potential to derail the trajectory of price declines forecast here.

Vehicle segments and EV specifications

l Vehicle retail prices have been rising in the past few years in the U.S. and Europe above their historical growth rates of around 1.5% in the US and 2% in Europe.

l Small cars and SUVs are on average markedly cheaper in the EU than the US; a reflection of consistently larger and more powerful vehicles in the US in these segments. In contrast, medium and large cars are slightly more expensive in Europe. However, the after-tax retail prices are higher in Europe across all segments.

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l In order to forecast vehicle prices, we assume that in the future battery electric vehicles will populate existing market segments. We have also assigned range and power specifications that we assume BEVs will need to compete in the relevant segments. These are shown in the table, and are applied for all countries.

August 2017

E LECTRIC VEHICLES

EV competitiveness is heavily dependent on battery cost and technology improvements

l Battery costs are dropping at around 19% per cumulative doubling of manufactured capacity. We expect Large manufacturing capacity additions (web | terminal) and incremental technology improvements between now and 2025 to sustain falling costs, beyond that costs reductions will likely slow on an annualised basis.

August 2017

l We expect average battery energy density will double by 2030 to more than 200 Wh/kg, on the back of continuous improvements in battery chemistries, higher material efficiencies and better engineering. The effects of these technological advancements are twofold: smaller battery capacity requirements – up to 15% by 2030 – and lower vehicle weight.

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E LECTRIC VEHICLES BEV prices will become as cheap as ICEs in the 2020's, but segment and regional differences will exist l We expect base vehicle costs, such as body and chassis, to drop for battery electric cars, due to simpler design and easier manufacturing. For ICEs, these costs will slightly increase, as a result of additional light-weighting (web | terminal) and other measures to meet CO2 emissions and fuel economy requirements.* l We expect electric powertrain costs for BEVs, such as motors, inverters and electronics, to drop by about 20-25% by 2030, mainly due to volume manufacturing. l The most expensive component of electric vehicles is currently the battery, which we expect to contribute between 18%-23% of the price by 2030, down from around 50% at present. l In the US, BEVs and ICEs in all segments will cost the same around 2026. In Europe, medium vehicles should reach price parity earlier – by 2025 – compared to small and medium cars and SUVs. In particular, small BEVs will not be price competitive until late in the decade, due to the low ICE prices in the segment.

Source: Bloomberg New Energy Finance Note: Estimated pre-tax retail prices; Note: our analysis uses data from the EPA, ICCT, FEV, ONRL, IDL

l In both regions, the SUV and large vehicle segments will reach price parity after 2026. This does not seem to have deterred some OEMs, who are planning SUV and crossover BEV launches around 2020. However, several have acknowledged that generating significant profits from EVs will be challenging over the next few years until battery prices drop further.

BEV and ICE pre-tax prices in the US and the share of battery costs in the vehicle price

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August 2017

E LECTRIC VEHICLES BEV and ICE pre-tax prices in the EU and the share of battery costs in the vehicle price

Battery electric vehicle specifications

In order to derive our forecasts, we have made several estimates on how battery capacity and power evolve for BEVs between 2017 and 2030:

We expect battery capacity requirements to drop up to 15% by 2030. This mean large cars and SUVs will need batteries of around 85 kWh to cover 300 miles, down from roughly 100 kWh today. Medium sized vehiclesâ&#x20AC;&#x2122; batteries will be just over 65 kWh for 250 mile range, while smaller vehicles will largely use batteries of about 50 kWh to achieve 200 mile range. l

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l We expect power requirements for vehicles to increase over time, but lower vehicle weight will counteract the trend. We expect the weight of the average battery electric vehicle to drop by about a quarter to 2030, with more than half of the gain coming from lighter batteries. Average power requirements will increase between 5% and 15% by 2030.

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E LECTRIC VEHICLES l We expect battery electric vehicles to be up to 15% cheaper than equivalent ICEs by 2030. To make this comparison, we assume that costs for internal combustion engine vehicles will rise slightly in the future to comply with an increasingly stringent regulatory environment. This is supported by analysis from groups like the EPA, NHTSA, and from statements from the car manufacturers.

However, automotive manufacturers could delay this trend by merging or otherwise pooling manufacturing capacity, withdrawing from certain markets (web | terminal) and pursuing higher efficiencies in all aspects of their operations. Potential relaxation of fuel economy and emissions regulations – as is being currently discussed in the

US (web | terminal) following the change in administration (web | terminal) – could ease these cost pressures and alter the projected pricing dynamics between BEVs and ICEs. Our underlying costs for vehicle and component manufacturing of electric vehicles assumes high production volumes. This typically means output of more than 100,000 vehicles per year. At the moment, manufacturers do not produce EVs at this scale, so unit costs for body and other parts are currently higher for EVs than ICEs. We estimate that by 2020-22 production capacity of electric vehicles will scale up for the more aggressive car makers and we expect a premium of 2030% in the next three to four years to the component manufacturing

cost of EVs. l Changing costs will make EVs competitive with their ICE counterparts over the next ten years, but economics alone will not dictate adoption. Many other factors play a large role. These are covered in-depth in past BNEF publications and will be addressed in our upcoming Long Term EV Adoption Outlook.

Our analysis is based on modelling an average vehicle in every segment. Individual manufacturers will have distinct cost structures depending on things like the geographical location of their manufacturing assets and their production volumes. In addition, individual brands have different pricing power to position their vehicles in the market.

Methodology Electric vehicle pricing methodology

Vehicle Retail cost breakdown by component l The cost multiplier from the previous slide accounts for depreciation, R&D, Selling and general administrative expenses, and OEM and dealer margins. l Around two-thirds of a vehicle’s retail price cover direct manufacturing costs, such as materials, labour and tools. This leaves 10-12% for dealer and OEM profit. l The cost structure between the U.S. and Europe is similar, with differences mainly reflecting dealer and labour costs.

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l In assessing the manufacturing cost of a BEV we assume volume production of around 100,000 or more vehicles per year. Manufacturers are generally below this now, but we expect many to be at this level around 2020 based on their stated plans.

August 2017

Policy & Regulations

Uttar Pradesh Solar Power Policy 2017 India, being a tropical country receives adequate solar radiation for 300 days. However, solar power has not been able to contribute to a significant share in the Indian energy mix.

Preamble

he grid-connected capacity of Solar PV in India stands at 12.5 GW (as of April, 2017) of the total 329 GW installed in the country. The market for solar power is, however, set to grow significantly due to improved economics of solar projects and rise in the prices of the fossil fuels. Another push to the sector includes Government of Indiaâ&#x20AC;&#x2122;s commitment to 40% of the countryâ&#x20AC;&#x2122;s power from renewable sources by 2030 including achievement of 100 GW from solar power by 2022, of which 40 GW is allocated specific to solar rooftop projects. Additionally, the amendment in the National Tariff Policy in 2016 also targets to achieve 8% contribution from solar energy in the total state mix (excluding hydro) by 2021 . To achieve a sustainable development route that provides for advancement in economic as well as environmental objectives, the Government of Uttar Pradesh is determined and taking necessary steps to encourage the generation based on renewable energy sources. The State has potential

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of 23.8 GW of Solar Energy which the State intends to harness to support the energy requirements of the State as well as meet the MNRE targets of 10.7GW of solar power which includes 4300MW from solar rooftop by 2022. In order to address the energy demand and access issues, the state is also targeted to provide 24 hours electricity connections to rural and urban households by 2018-19. Attaining such an ambitious target will require a complete transformation of power sector scenario in Uttar Pradesh including tapping huge solar energy potential. Additionally, solar energy deployment in the state will also attract investments creating many jobs in the state. The solar industry provides both one-time jobs during precommissioning/ construction phase and regular operations and maintenance positions over the life of the project. Investments in the solar industry as well as domestic manufacturing of solar panels will help create direct and indirect employment opportunities in both skilled and unskilled sector. Thus, keeping in view vast potential of solar power in the state and to improve the power availability,

the Government is keen in establishing solar energy based power plants in the state. To achieve this, objective, U.P. State Government hereby declares and adopts Solar Power Policy, 2017.

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Policy & Regulations Applicability of the PolicyThe solar policy shall be applicable for the following solar projects set up within the state: 1) Utility Scale Solar Power Projects (SPPs) Utility scale grid-connected solar power projects based on both Photo Voltaic (PV) as well as Solar Thermal technologies pertaining to: Projects set up for sale of power to UP Electricity Distribution licensees l Projects set up for sale of power to third parties within the State or outside the State l Projects set up for captive l

generation/ group captive generation (including those funded and owned by developers) with intention to sale part generation to Electricity Distribution Company or Third party. 2) Solar Rooftop Projects State shall encourage the development of solar rooftop projects to meet the MNRE target of 4300MW for the State of UP by 2022. 3) Off-Grid Applications: Solar Street Lights Solar powered agricultural pump sets l Any other off grid solar product. l l

Regulatory Framework The Electricity Act 2003, as amended from time to time, mandates the State Electricity Regulatory Commission, to set tariffs for renewable energy as well as to issue regulations pertaining to renewable power purchase obligation (RPO), and set charges for wheeling, transmission and distribution of electricity.

Policy Targets The Government of Uttar Pradesh in its endeavor to achieve minimum 8% solar energy out of the total projected consumption (as defined in the Tariff Policy), proposes to meet the target of 10700 MW solar power for UP including 4300 MW from rooftop solar projects by FY 22.

Objectives

Implementation Plan

This solar policy has the following specific objectives: l To encourage participation of Private Sector and provide investment opportunities to set up solar power projects in the state l To support in providing environment friendly and affordable Power for All. l To promote Research &Development, innovations and skill development in the state l To achieve its target of 8% Solar Renewable Purchase Obligation (Solar RPO) by 2022.

The State shall encourage implementation of the Solar Power under below mentioned segments:

Operative Period This policy shall come into operation from date of issuance and shall remain in operation for a period of five (5) years or till the Government notifies the new policy whichever is earlier. The Solar Power Projects (SPPs) that are taken up during the operative period shall continue to be eligible for the incentives declared under this policy.

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Utility scale grid-Connected Solar Projects Category-1: Solar Park

State Government will promote the development of integrated solar parks for utilizing waste lands in the State for generation of power. Through development of solar parks, private participation will be encouraged by providing “plug and play” options for developers. Size of Solar Parks set up will be minimum 100 MW capacity at contiguous location,subject to minimum capacity condition of Solar Park laid down by Ministry of New and Renewable Energy (MNRE), Government of India for providing Central FinancialAssistance (CFA) for development of Solar Park.

The solar parks can be set up under:

A. Public Sector Solar Parks The State shall support the development of solar parks under any of the following modes: 1. Solar Parks developed and managed by Central/ State Government Public Sector Undertaking (PSU) or a Special Purpose Vehicle (SPV) of the State Government 2. Solar Parks developed and managed by a Joint Venture Company (Lucknow Solar Power Development Corporation Limited) comprising of UPNEDA (50% equity) and Solar Energy Corporation of India (SECI) (50% equity) 3. Solar Parks developed and managed bySolar Energy Corporation of India (SECI) on behalf of State Government on mutually agreed terms.

August 2017

Policy & Regulations

Government of U.P will provide the following Incentives: i. Land on lease or Right to use basis for development of Solar Park. ii. Connectivity of Solar Park to the nearest transmission Substation. iii. Support for strengthening of Grid network iv. The State through UPPCL/Distribution licensee to offer purchase of 100 % power generated from solar park out of which atleast 50% of the power will have to be sold to UPPCL/Distribution Licensee. Location of the Solar Park shall be finalized in consultation with State Transmission utility to optimize the cost of transmission.Allocation of the Solar Power Projects inside the Solar Park will be done through bidding as per guidelines of Ministry of New and Renewable Energy (MNRE), Government of India B Private Sector Solar Parks The state shall promote the solar parks developed by private companies. Government of U.P will provide the following Incentives: i Support for strengthening of Grid network ii The State through UPPCL/Distribution licensee to offer purchase of 100 % power generated from solar park out of which atleast 50% of the power will have to be sold to UPPCL/Distribution Licensee.

Category-2: Large scale stand-alone solar projects with sale of power to Distribution Licensee The nodal agency for such projects shall be UPNEDA. The minimum project size shall be 5MW at a single location and shall be awarded through competitive bidding process as per Ministry of New and Renewable Energy (MNRE), Government of India guidelines.

Incentives State Government will bearone-third of the cost of construction of transmission line,for maximum transmission line length of 15 km for thesolar projects in the Bundelkhand and Purvanchal region of the State. Remaining cost for construction of transmission line, bay and substation will be borne by the Project Developer. Incentive will be available only in case of construction of Transmission line by State Transmission Utility (STU)/Distribution licensee.

Implementation Arrangement: a) Net Metering: The policy shall be applicable to Renewable Energy (RE) Beneficiary, who installs RE Systems under Net Metering Arrangement as per UPERC RSPV Regulation, 2015. Generally, such RE Systems shall be located in the premises of RE Beneficiary. In case of multi storied buildings, residential colonies, commercial buildings, etc,Renewable Energy(RE) System could be located at common facility area; the same could supply to the bulk power connection or connection for common facilities therein, and, in other cases, without hindering or encroaching upon the lawful rights of the other occupants. b) Gross Metering: In this arrangement energy in a system is measured under which entire energy generated from a rooftop Solar PV system installed at eligible consumer premises is delivered to the distribution system of the licensee.

Implementation Plan: Government/Public Institutions

Grid-Connected Solar Rooftop Projects

i. The Government of Uttar Pradesh shall promote deployment of rooftop solar photovoltaic plants for captive/self-consumption on the offices of the government organizations/State government owned or aided institutions under Net metering mechanism. Installation of these Rooftop solar photovoltaic plants through third party (Renewable Energy Supply Company -RESCO) will be encouraged wherein the consumer shall enter into a power purchase agreement with the Third Party and enter into Net-Metering agreement with the Distribution licensee.

The State shall encourage implementation of the grid connected rooftop solar photovoltaic power plants on public buildings, domestic, commercial and industrial establishments through following arrangements as per Rooftop Solar PV Grid Interactive systems Gross/Net Metering Regulations ,2015 (RSPV Regulations ,2015) issued by UPERC and amended from time to time:

ii. The State shall endeavor to participate and avail benefits under the MNREâ&#x20AC;&#x2122;s scheme on Grid Connected Rooftop and Small Power Plants Programme.

Other charges will be applicable as per the UP Electricity Regulatory Commission (UPERC) regulations, as amended from time to time.

Facilities for third Party sale (i) Intrastate sale of solar power to any third party shall be exempted from any wheeling charges/transmission charges. (ii) Interstate sale of solar power shall be exempted from any cross subsidy surcharge and wheeling charges/transmission charges applicable inside the state. (iii) Metering for sale of power shall be done at STU/Distribution licensee substation end

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Policy & Regulations

Further, the State shall take active part in the Ministry of New and Renewable Energy (MNRE) scheme on implementation of rooftop solar power plants on the roofs of the State Government department and State Public Sector Units namely ‘Achievement-Linked Incentive’ for Government Sector or any other incentive available under any Government scheme from time to time. iii. All the public institutions such as government owned or aided hospitals, research institutions, educational institutions, hostels & training institutions, libraries, establishments of Indian railways, in the State, such as ticket reservation centre, Railway stations, research and development organization, rest houses, inspection houses etc, shall endeavor to install grid connected rooftop solar photovoltaic power plant and generates &consume some percentage of their annual electricityconsumption from such plant. iv. Nodal Agency, UPNEDA willpay an active role in collection of demand for installation of Grid connected Solar Rooftop Power PlantsfromGovernment departments.UPNEDA will finalize model contract conditions and carry out competitive bidding for discovery of tariff and selection of Renewable Energy Service Companies (RESCO’s) for implementation of Grid connected Solar Rooftop projects on Government buildings. v. Funds from the Government of Uttar Pradesh may be made available for providing payment security in case any State Government, Semi Government, Government aided organizations ,Government owned corporations and statutory bodies etcdecides to implement Solar Rooftop project through third Party (RESCO) mode. However depending on the response generated some budgetary support may also be provided by Government of U.P. for installation of Rooftop Solar Power Plants in State Government, Semi Government, Government aided organizations and corporations.

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Residential &Private Institutions The Government of Uttar Pradesh shall encourage the Residential, Commercial and Industrial units to implement Grid connected rooftop solar power plant, of suitable capacity, on the roof of their premises/area following the regulations as notified by Uttar Pradesh Electricity Regulatory Commission from time to time.

Incentives for implementation of Grid-connected solar rooftop projects The following incentives shall be available to the Grid connected Rooftop Solar PV Plants implemented by the eligible entities, as applicable, during the Operative Period of the policy, i. To promote large scale installation of Grid connected Rooftop systems under Net-Metering arrangement in private residential sectors, State Government will provide subsidy of Rs 10000/KW to a maximum limit of subsidy Rs 20000 per consumer on first come first basis for the first 100 MW applications submitted online to UPNEDA. Subsidy will be disbursed to beneficiary after successful installation and commissioning of Rooftop solar systems with net metering and submission of all documents to the State Nodal agency (UPNEDA). In case the project installation is delayed for more than 6 months, the subsidy shall be withdrawn by UPNEDA. This subsidy will be in addition to any Central Financial Assistance available from Ministry of New and Renewable Energy, Government of India which would be dispersed by State Nodal Agency. ii. The height of the module structure carrying rooftop solar panels, in addition to the building height, shall not

be counted towards total height of the building as permitted by building bye laws. Further in case a solar rooftop project is implemented, no further building permission will be required from the local development authorities/local bodies on this account. iii. In compliance to the Rule 47A of Indian Electricity Rules, 1956 the installation and testing of rooftop solar power plant up to 10 kW, will be exempted from the inspection by the Electrical Inspector of the State of Uttar Pradesh. The appropriate Distribution Licensee shall undertake the inspection of the rooftop solar power plant up to 10 kW before commissioning.

Metering Arrangement, Evacuation Voltage & Interconnection with the distribution system Metering arrangement,evacuation voltage of electricity generated from Solar Power Plants and interconnection of the Rooftop Solar Power Plant with the network of the distribution licensee will be as per UPERC RSPV Regulations 2015 and as amended from time to time.

Other Off-Grid Applications Off Grid applications like Solar Street Lights and Solar Water Pumps for irrigation purpose are being deployed presently in the State on large scale with State subsidy .Government of UP will encourage off grid applications in rural areas of the State .State Government will review from time to time and provide support as appropriate .Government of U.P. has declared “Minigrid Policy U.P. -2016” which is annexed with this policy which may be reviewed by State Government as required from time to time.

August 2017

Policy & Regulations

Ease of BusinessEnabling Provisions The State, in order to encourage solar based generation, has prepared the following measures for improving the ease of doing business. However the project developer has to ensure that the generation is within the time limit stipulated in the PPA or within a maximum period of 2 years from the date of application whichever is earlier, failing which the provisions under this policy automatically stands cancelled. The following provisions are for Solar Power Projects (SPP) and solar parks, wherever applicable: i) Single Window Clearance System The nodal agency will undertake single window clearance for all Solar Power Producers. ii) Energy Banking Banking of 100% energy in every financial year shall be permitted, subject to verification by the officials of the concerned State Distribution Company as per banking provisions of UPERC CRE Regulations 2014 and as amended from time to time. iii) Electricity Duty Electricity duty for ten years shall be exempted for sale to Distribution licensee, captive consumption and third party sale in respect of all solar projects set up within the state.

Government of India incentives Various concessions allowed by Ministry of New and Renewable Energy (MNRE) for solar projects including central excise duty & customs duty exemptions shall be allowed to the project developer.

Empowered Committee To resolve key bottlenecks in implementation of this policy and resolve any other Inter departmental issues that may arise from time to time, an Empowered committee will be constituted under the chairmanship of the Chief Secretary of the State. The committee will have the following members:-

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Chief Secretary - Chairman

Infrastructure & Industrial Development Commissioner -Member

Additional Chief Secretary/ Principal Secretary Energy -Member

Secretary /Principal Secretary, Additional Sources of Energy -Member

Secretary /Principal Secretary, Finance -Member

Secretary /Principal Secretary, Planning -Member

Secretary /Principal Secretary, Revenue -Member

Secretary /Principal Secretary, Housing - Member

Managing Director, UPPCL -Member

Managing Director, UPPTCL -Member

Managing Director, Concerned DISCOM -Member

Director, UPNEDA â&#x20AC;&#x201C; -Member Secretary

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Policy & Regulations

Nodal Agency Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) will be the nodal agency for facilitating solar policy as envisaged by the relevant authorities.

Role of Nodal Agency The Nodal Agency will facilitate and assist the project developers and undertake the activities to achieve the objectives of the policy.

Bidding of Projects The Nodal agency will be responsible for carrying out all the tasks related to bidding process for Solar Power Projects in the state. For utility scale Solar projects Government of U.P. shall provide funds for activities like hiring of consultants for Bid process management, Outsourcing of single window system and other incentives to be made available directly under this policy or on any other activity or works which are required for implementation of Solar Policy in the State. For projects being set up under other departmental budgets, concerned departments will bear the cost related to feasibility report preparation and bid process management. Nodal Agency may charge a nominal facilitation charge for providing this service.

Facilitation for Government Land/Space Facilitate allotment of suitable land/space in control of State Government or its agencies.

Coordination with other Departments For arranging right of way, if any, water supply and connecting infrastructure like roads etcNodal agency will coordinate with other Government departments for expediting the setting up of Solar Projects.

Training Develop appropriate skilled manpower by tying up with training and educational institutions.

FORMULATING OF SUBSIDY SCHEME AVAILABLE TO INSTALLATION OF ROOFTO SOLAR POWER PLANTS IN RESIDENTIAL SECTOR Nodal Agency shall formulate scheme to provide for State subsidy as mentioned in Para Of Incentives for implementation of Grid-connected solar rooftop projects (i)

R&D Activities To promote awareness amongst researchers and to assist private sector in solving key issues related to reliability, adaptability of technology for Indian conditions with special reference to Uttar Pradesh ,The State Government shall set up Solar Research &Development, testing and standardization facility in two institutes/universities in UP.

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Skill Development and Capacity Building It has been realized that a large number of solar energy professionals will be required not only in UP, but in the entire country to achieve ambitious target of 100 GW of solar capacity. The government of UP, through UPNEDA shall design training programs in association with National Institute of Solar Energy (NISE) to train electricians, mechanical & civil experts on solar. Various skill development programs will be designed by UPNEDA and NISE and subsequently training will be imparted across the state. Skills will be developed across segments including â&#x20AC;&#x201C; installation, operation and maintenance of solar projects, testing of solar products, solar resource assessment, refurbishment, etc. UPNEDA will provide certifications under these development programs.

Benefits under other Policies of Government of U.P. i. Incentives available for Solar Power Projects shallbe available as in Infrastructure Investment and Industrial Policyof the State as prevalent from time to time. Fiscal incentives available as per Infrastructure Investment and Industrial Policy of State from time to time will be payable from the budgetary provisions made in that policy. ii. Government of UP has delegated powers to Commissioners for early disposal of permission to be provided under land ceiling Act. iii. Solar PV projects shall be exempted from obtaining Environmental clearance

Power to amend & interpret the policy Government of UP will have power to amend/ review/relax/interpret any of the provisions under this policy as and when required.

August 2017

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Quarter results

Azure Power

Announces Results for

Fiscal Fourth Quarter 2017 Azure Power Global Limited (NYSE: AZRE), (“Azure Power” or “the Company”), one of the leaders in the Indian solar industry, today announced its consolidated results under United States Generally Accepted Accounting Principles (US GAAP) for the fiscal fourth quarter 2017, period ended March 31, 2017.

Key Operating and Financial Metrics :

lectricity generation during the fiscal year ended March 31, 2017 increased by 252.7 million kWh, or 69%, to 617.5 million kWh, compared to the same period in 2016. The increase in electricity generation was principally a result of additional capacity operating during the period. Total revenue during fiscal year ended March 31, 2017 was INR 4,183.0 million (US$ 64.5 million), up 59% from INR 2,626.1 million during the same period in 2016. The increase in revenue was primarily driven by the commissioning of new projects. Project cost per megawatt operating consists of costs incurred for one megawatt of new solar power plant capacity during the reporting period. The project cost per megawatt operating for the fiscal year ended March 31, 2017 decreased by INR 10.3 million (US$ 0.16 million) to INR 49.3 million (US$ 0.76 million), as compared to the same period in 2016. The decline is due to decreasing solar module prices and the reduction in balance of system costs.Fourth Quarter 2017 Period Ended March 31, 2017 Operating Highlights:

Operating & Committed Megawatts were 1,069 MW, as of March 31, 2017, an increase of 31% over March 31, 2016. Revenue for the quarter was INR 1,318 million (US$ 20.3 million), an increase of 72% over the quarter ended March 31, 2016. Adjusted EBITDA for the quarter was INR 974 million (US$ 15.0 million), an increase of 90% over the quarter ended March 31, 2016. Nominal contracted payments increased from March 31, 2016 to March 31, 2017 as a result of the Company entering into additional PPAs. Over time, the Company has seen falling benchmark tariffs as reported by Central Electricity Regulatory Commission in line with the reduction in solar module prices.

August 2017

Portfolio Run-Rate

ortfolio run-rate equals annualized payments from customers extrapolated based on the operating and committed capacity as of the reporting dates. In estimating the portfolio run-rate, the Company multiplies the PPA contract price per kilowatt hour by the estimated annual energy output for all operating and committed solar projects as of the reporting date. The estimated annual energy output of the Company’s solar projects is calculated using power generation simulation software and validated by independent engineering firms. The main assumption used in the calculation is the project location, which enables the software to derive the estimated annual energy output from certain meteorological data, including the temperature and solar insolation based on the project location. The following table sets forth, with respect to the Company’s PPAs, the aggregate portfolio run-rate and estimated annual energy output as of the reporting dates. The portfolio run-rate has not been discounted to arrive at the present value. Portfolio run-rate increased by INR 1,716 million (US$ 26.5 million) to INR 11,006 million (US$ 169.7 million) as of March 31, 2017, as compared to March 31, 2016, due to an increase in operational and committed capacity.

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Quarter results

Depreciation and Amortization Expenses Depreciation and amortization expenses during the quarter ended March 31, 2017 increased by INR 121.9 million (US$ 1.9 million), or 63%, to INR 314.0 million (US$ 4.8 million) compared to the same period in 2016. The principal reason for the increase was capitalization of new projects during the period from March 31, 2016 to March 31, 2017.

Interest Expense, Net Net interest expense during the quarter ended March 31, 2017 decreased by INR 38.4 million (US$ 0.6 million), or 6%, to INR 631.2 million (US$ 9.7 million) compared to the same period in 2016. Interest expense decreased primarily as a result of eliminating interest on Compulsorily Convertible Debentures following their conversion after the Company’s initial public offering and higher interest income on investments during the quarter ended March 31, 2017, which was partially offset by increased borrowings for new solar power projects.

Fourth Quarter 2017 Period ended March 31, 2017 Consolidated Financial Results: Operating revenue in the quarter ended March 31, 2017 was INR 1,317.6 million (US$ 20.3 million), an increase of 72% from INR 767.2 million over the same period in 2016. The increase in revenue was driven by the commissioning of new projects.

Cost of Operations Cost of operations in the quarter ended March 31, 2017 increased by 106% to INR 130.7 million (US$ 2.0 million) from INR 63.3 million in the same period in 2016. The increase was primarily due to plant maintenance cost for newly commissioned projects and implementation of improved O&M methods for better plant productivity.

General and Administrative Expenses General and administrative expenses during the quarter ended March 31, 2017 increased by INR 21.1 million (US$ 0.3 million), or 11%, to INR 212.4 million (US$ 3.3 million) compared to the same period in 2016. This was primarily due to an increase in personnel expenses to support the Company’s growth.

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Gain on Foreign Currency Exchange The Indian rupee depreciated against the U.S. dollar by INR 0.1 to US$ 1.00 (0.1%) during the period from December 31, 2016 to March 31, 2016, while the Indian rupee appreciated against the U.S. dollar by INR 3.1 to US$ 1.00 (4.5%) during the period from December 31, 2016 to March 31, 2017. This appreciation during the period from December 31, 2016 to March 31, 2017 resulted in a foreign exchange gain of INR 309.2 million (US$ 4.8 million), which was a INR 315.2 million (US$ 4.9 million) improvement compared to the same period in 2016.

Income Tax Expense Income tax expense increased during the quarter ended March 31, 2017 by INR 406.9 million (US$ 6.3 million) to INR 645.2 million (US$ 9.9 million), compared to the same period in 2016. The increase in income tax expense in the quarter ended March 31, 2017 was partly due to increase in taxable income on profits generated by a subsidiary, which provides certain engineering, procurement and construction services to its subsidiaries and delay of accelerated depreciation tax benefit claimed in the current quarter. The subsidiary expects to benefit from this claim in the next quarter.

August 2017

Quarter results Net Loss Net loss for the quarter ended March 31, 2017 was INR 306.7 million (US$ 4.7 million), a decrease of INR 286.7 million (US$ 4.4 million) as compared to the same period in 2016. This was primarily due to increase in revenue, lower interest expense and a foreign exchange gain realised during the quarter ended March 31, 2017.

Cash Flow and Working Capital Cash utilized in operating activities for the fiscal year ended March 31, 2017 was INR 27.2 million (US$ 0.4 million), an increase of INR 761.1 million (US$ 11.7 million) as compared to the same period in 2016, primarily due to one-time receipt of Viability Gap Funding (VGF) during the same period in 2016. Cash used for investing activities increased by INR 12,785.2 million (US$ 197.2 million) during the fiscal year ended March 31, 2017 compared to the same period in 2016 as purchases of property, plant and equipment for new projects rose by an additional INR 6,324.5 million (US$ 97.5 million). During the fiscal year ended March 31, 2017, the Company raised INR 24,331.5 million (US$ 375.2 million) from financing activities. The Company raised equity of INR 10,466.8 million (US$ 161.4 million) from its initial public offering and concurrent private placement and issuance of Series I CCPS.

Liquidity Position As of March 31, 2017, the Company had INR 8,757.5 million (US$ 135.0 million) of cash, cash equivalents and current investments. The Company drew down INR 8,471.2 million (US$ 130.6 million) of project debt during the quarter and had undrawn project debt commitment of INR 16,227.9 million (US$ 250.2 million) as of the end of the quarter.

Adjusted EBITDA Adjusted EBITDA was INR 974.4 million (US$ 15.0 million) for the quarter ended March 31, 2017, compared to INR 512.6 million in the same period in 2016. This was primarily due to the increase in revenue during the period.

Guidance The following statements are based on current expectations. These statements are forward-looking and actual results may differ materially. The Company is giving revenue guidance for fiscal year 2018 ending March 31, 2018 of US$ 118 – 125 million. In addition, the Company expects that 1,000 – 1,200 MWs will be operational by March 31, 2018.

August 2017

Exchange Rate This press release contains translations of certain Indian rupee amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise stated, the translation of Indian rupees into U.S. dollars has been made at INR 64.85 to US$ 1.00, which is the noon buying rate in New York City for cable transfer in non-U.S. currencies as certified for customs purposes by the Federal Reserve Bank of New York on March 31, 2017. The Company makes no representation that the Indian rupee or U.S. dollar amounts referred to in this press release could have been converted into U.S. dollars or Indian rupees, as the case may be, at any particular rate or at all.

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SolarEdge to offer the fastest AC EV charging rates by supplementing grid power with PV power SAN FRANCISCO, CA — At Intersolar North America, SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), a global leader in PV inverters, power optimizers, and modulelevel monitoring services, is unveiling the world’s first inverterintegrated electric vehicle (EV) charger. By supplementing grid power with PV power, SolarEdge’s Level 2 EV charger offers charging up to six times faster than a standard Level 1 charger with its innovative solar boost mode.

olarEdge’s HD-Wave inverter, once integrated with an EV charger, will not only provide the existing management and monitoring of solar production, but will also enable EV charging from a single inverter and dashboard. The combined solution will offer considerable cost savings on both hardware and labor by eliminating the need for an additional conduit, wiring, and breaker installation. The solution will also eliminate the need for an additional dedicated circuit breaker, which saves space and a potential main distribution panel upgrade.

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“SolarEdge is dedicated to developing innovative solutions for increasing the use of renewable energy and cost savings for our customers and end users,” stated Guy Sella, CEO and Chairman of SolarEdge. “Adding EV charging to our growing-range of products further enables system owners to easily manage their energy needs."

ased on patent-pending technology, the EV charger is embedded into SolarEdge’s HD-Wave inverter and leverages its solar boost mode. This mode utilizes both grid and PV to charge at 9.6kW (40 Amp) Level 2 charging, which is up to six times faster than standard Level 1 charging. If PV is not available, the inverter-integrated EV charger will use grid power to charge at 7.6kW (32 Amp) Level 2 charging, which is up to five times faster than standard Level 1 charging. With a 12-year warranty, the inverter-integrated EV charger offers potential future operating modes, such as demand-response and charging at off-peak hours to optimize Time-of-Use (TOU) rates. The inverter-integrated EV charger is expected to be available in the last quarter of 2017.

August 2017

Enphase Energy to Launch Microinverter Technology Master-classes at Rene wable Energy India Expo 2017 Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of solar microinverters, announced today that it will launch a series of microinverter technology masterclasses at the Renewable Energy India Expo 2017.

“India has been moving towards innovative, smart and easy-to-use technology for intelligent energy management,” said Mr. Yogesh Mudras, managing director of UBM India. “This has led to a growing appetite for microinverter technologies especially in the residential segment. We are delighted to partner with Enphase Energy to roll out masterclasses for the first time at our flagship expo – Renewable Energy India 2017. The masterclasses will help impart knowledge on the latest best practices for the use of microinverters globally for solar generation. These sessions will definitely help the industry put into practice this knowledge for India’s residential solar market.”

hese masterclasses are designed to provide installers and Engineering, Procurement and Construction companies (EPCs) with a knowledge base for innovations behind microinverter technologies, and to understand more effectively how microinverters are best suited for the Indian rooftop solar photovoltaic (PV) market. Attendees will learn about the latest microinverter technology trends and ways to manage microinverters for India’s climate and environmental conditions.

Nathan Dunn, managing director of Enphase Asia-Pacific said, “Enphase is delighted to be working with UBM India to launch these microinverter technology masterclasses. There is a significant potential for the adoption of microinverters in the residential segment as India has placed a huge emphasis on solar energy. We hope to generate greater awareness through these masterclasses about microinverters and how they can play a part in driving greater quality and reliability for India’s solar industry.”

o be held at the India Expo Centre in Greater Noida from September 20-22, 2017, these masterclasses are complimentary for all exhibition delegates. They will be conducted by Duncan MacGregor, Enphase Energy’s Asia-Pacific product trainer & field applications engineer from Melbourne, Australia.

August 2017

nphase Microinverter System offers higher performance and smarter insights for rooftop solar PV systems. It is simple to install and is designed to provide installers with the flexibility to optimise their rooftop PV installations. Enphase leads the industry in reliability and quality with microinverters that will reduce installation and maintenance costs and offer greater value to customers.

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TMEIC Introduces Next Generation 3.2MW Inverter TMEIC Corporation in Roanoke, Va. introduces the next generation of SOLAR WARE SAMURAI™ Inverters, approved for outdoor installation. The new inverter is the latest addition to TMEIC’s portfolio of PV utilityscale solar inverters for industrial markets, offering 3.2MW at 1500V.

uilt on decades of engineering experience with power electronics, SOLAR WARE SAMURAI™ inverters offer the industry’s most advanced grid management in an efficient, compact footprint. The new inverters will be available in mid2017.

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Unique features include: Proprietary 3 Level Inverter Topology Maximized and optimized efficiency Wide MPPT range (875Vdc – 1300Vdc) allowing for best-in-class DC/AC Ratios Flexible DC-input configuration to meet complex array configuration Designed for extreme environments, including desert heat and salt prevention Designed to meet utility scale grid interconnection requirements

“The SOLAR WARE SAMURAI™ 3.2MW model advances the revolutionary design of the SOLAR WARE™ series, providing greater power and efficiency to the solar industry,” Donn Samsa, TMEIC Renewable Energy General Manager said. “This next generation inverter is the result of decades of research and development to create the most advanced inverters in the industry.”

August 2017

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August 2017

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