EQ Int'l Magazine Feb-March 2015 Edition by EQ Int'l Solar Media Group

Volume # 7 | Issue # 2 | Feb-Mar 2015 |

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POWER TO YOU An ultra-modern manufacturing plant that ensures minimal conversion losses between cells and the modules, to give you a better bang for your money

Talk To Us For Comprehensive Turnkey/EPC Solutions For Financing Options For Plug'N'Play Solutions Rolta Power Pvt Ltd, Plot No. 35, MIDC Central Road, Andheri East, Mumbai - 400093 EQ Feb-Mar 2015 www.EQMagLive.com bhuwan.panwar@roltapower.com, +91-8451009045

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Exim Bank of India Raises US$ 500 Million 5 year Tenor Reg S Green Bond At a Coupon of 2.75% p.a. Export-Import Bank of India, India’s premier export FINANCE institution, successfully launched a 5 year Reg S Green Bond issue of US$ 500 mn on March 24, 2015. The issue attracted subscription of around 3.2 times the issue size led by strong demand, across 140 accounts. The 5 year US$ 500 mn Eurodollar Green bond issue was priced at 147.50 basis points over US Treasuries (UST) at a fixed coupon of 2.75% p.a., cutting through the current secondary TRADING levels of similar bonds and achieving a pricing tighter than the Bank’s own US$ 500 mn Reg S bonds issued in February 2015 for a 5.5 year tenor. The above transaction is significant as it marks the first USD-denominated Green bond offering out of India as well as the first benchmarksized Green bond out of Asia in 2015 and the third ever Green bond issuance out of Asia. It provides Exim Bank an opportunity to expand its investor base and to support an important MARKET as investors seek more socially responsible investment options. Exim will use the net proceeds from the sale of the notes to fund Eligible Green Projects in countries including Bangladesh and Sri Lanka. The issue attracted over US$ 1.6 bn of book across 140 accounts with significant participation from green investors and real MONEY accounts. The offering saw majority (58%) participation from fund managers, while banks (20%), sovereign wealth funds / insurance companies (18%) were the other major investor classes. The issue was distributed 60% to Asian investors, 30% to EMEA (Europe, Middle East and Africa) and balance to offshore US investors. Bank of America Merrill Lynch and J.P. Morgan acted as Joint Lead Managers on the offering. Exim Bank of India has been rated as ‘BBB-’ by Standard and Poor’s and ‘Baa3’ by Moody’s, same as the rating of Government of India. Mr.Yaduvendra Mathur, Chairman and Managing Director of Exim Bank, commented, “The Green Bonds reinforce our commitment to the environment and helped us connect with socially responsible INVESTORS that care about the Green INVESTMENTS that we facilitate. Exim Bank has been a pioneer in opening new markets for capital raising for other Indian issuers. In the past, Exim India was the first to issue bonds in the Uridashi, Australian Dollar, Singapore Dollar and Samurai bond markets, which was followed by other Indian issuers. This is another attempt to open an increasing important MARKET segment to other Indian issuers and we see more Indian companies following suit to tap the Green bond markets”. Mr. David Rasquinha, Deputy Managing Director of Exim Bank, commented, “We are pleased to see the robust demand for our transaction despite recent market volatility. We were able to upsize the transaction to US$500mm from initial indication of US$250300mm based on strong investor response. The deal announcement followed calls with select global investors spanning over two days. We were able to pick the optimal execution window and are very satisfied with the outcome. Exim Bank has successfully expanded its investor base to include a new class of socially responsible investors”. Exim Bank aims to promote India’s international TRADE and investment. The Bank offers Indian companies a comprehensive range of products and services, supported by analysis and research, with a view to enhancing their international competitiveness. The Bank supports Indian exporting companies, especially medium-sized enterprises, in their globalisation efforts through a variety of lending programmes.

THE POWER OF RISING V A LUE Risen Energy Company Ltd. (SZSE:300118) (“Risen Energy”) founded in 2002 has evolved from a manufacturer of lamps to a leading professional PV products manufacturer providing world class premium quality solar PV cells, modules and solar lighting products. By the end of 2014, Risen Energy has reached 1000MW annual manufacturing capacity of solar cells and modules with more than 3200 workers across 4 manufacturing plants in Ninghai, East China. Risen Energy is a responsible company with core focus on its customers, employees, shareholders and the environment. Risen Energy has established long term relationship with its customers and partners across Europe, North America, South America, South Africa, Southeast Asia and other regions. Risen energy products are exported to more than 30 countries and consistently earned the reputation of supplying premium high quality products. Risen Energy products have been highly rated & approved by leading laboratories & institutes including Photon Laboratory, T Ü V, Bloomberg New Energy Finance, International Banks etc.

Global Headquarters & Factory: Tashan Industry Zone, Ninghai, Ningbo, China – 315609 Tel: +86 574 59953228 Fax:+86 574 65173959 E-mail:info@risenenergy.com India Sales Contact: Krishna Thimmaiah, Country Manager Mobile: + 91 988 071 0526 E-mail:krishna@risenenergy.com

Owner :

FirstSource Energy

INTERVIEW

CONTENTS INTERVIEW

VOLUME 7 Issue # 2

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PEDDIRAJUBHUPATHIRAJU 30 Manging Director

Akshaya Solar Power (India) Pvt Ltd, Hyderabad

Gaurav Sood 32 Managing Director,Solairedirect India

PUBLISHER:

ANAND GUPTA

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Cover JA Solar Holdings Co., Ltd. is a world-leading manufacturer of highperformance solar power products that convert sunlight into electricity for residential, commercial, and utility-scale power generation. The company is committed to develop and provide the world with clean and renewable energy to ease the energy shortages as well as human kindâ&#x20AC;&#x2122;s impact on the environment. With cutting-edge manufacturing equipments, JA Solar has an annual solar cell production capacity of 2.5G W, an annual module production capacity of 1.8 GW , and an annual wafer production capacity of 1.0 GW. With a selectively optimized vertical integration model, JA manufacturing facilities encompass the whole photovoltaic supply chain including wafers, cells, modules, and comprehensive PV system project development services.

Dr. Aditya K Singh 42 Enabling Potential Solar Investments By ROLTA POWER

SOLAR ENERGY

CONTENTS

Shivendra Singh Yadav

Dwipen Boruah

QUARTER RESULTS

46 Solar Water Pumping SystemAn Ideal Solution For Micro IrrigationAnd Rural Drinking Water Supply

52 Outback Power Grid Hybrid DigitalSwitching Technology For Off-GridBattery-Back Using Solar Energy

Eq Business & Financial News

POLICY & REGULATIONS

8-29

RENEWABLE ENERGY 38 Renewable Energy Status

Of Indian Power Sector:

Upcoming Projects & Future Scopes

Saumya Bansal Gupta EQ Intrenational Page. No. 60-75

Nalin Patel

49 Using PV Electricity On The Spot Flexible Use Of SelfProduced Power

SOLAR ENERGY 41 Auma India Pvt Ltd And Enerparc EnergyPvt Ltd Announces Commissioning Of Captive Solar Project 48 Reduction in AT&C through Social Indicators

54 Delhi Electricity Regulatory Commission (Net Metering forRenewable Energy) Regulations, 2014 56 Guidelines under DERC (Net Metering for Renewable Energy)Regulations, 2014

PRODUCT REPORT 76-81

& EQBusiness Financial SMA Managing Board Expects Sales Between €730 Million And €770 Million In A Difficult Business Environment In 2015 And Presents Cost Reduction

he Managing Board o f SM A S o l a r Technology AG is forecasting sales of between €730 million to €770 million and earnings before interest and taxes (EBIT) of €-30 million to €-60 million in the current fiscal year. To return SMA to profitability, the Managing Board will adjust the company’s structures worldwide. At today’s Capital Markets Day, SMA Chief Executive Officer PierrePascal Urbon is presenting the measures that are intended to lower SMA’s break-even point to less than €700 million in the coming months. SMA’s management has developed specific measures for all corporate areas in order to cut fixed costs by more than €160 million. In addition to a substantial adjustment

of the corporate structure in Germany and abroad, the plan includes, among others, the focus on strategically important development projects, the reduction of the depth of added value and the consolidation of the global infrastructure. “We deeply regret that the transformation is associated with a drastic staff reduction. However, we have no other choice since sales markets with significance for SMA have declined by almost 75% within just 48 months because of the change in general conditions,” said SMA Chief Executive Officer Pierre-Pascal Urbon. By implementing these measures, the SMA Managing Board wants to reduce the cost base sharply enough that SMA will not have to make any more personnel adjustments in the future even with a lower sales level.

“In the last fiscal year, SMA defended its global market share measured in euros despite the market slump in continental Europe. We will continue to offer system technology and services for all photovoltaic applications in all attractive solar markets as the global market leader. Our latest product developments prove that we can use technological innovation not only to significantly reduce the specific inverter costs per watt, but also to set trends in our industry. Thanks to our good sales and service presence, especially in Americas and Asia/ Pacific, we can benefit from the positive development in these growth regions. We optimized our supply chain and production processes such that we will still be able to serve global demand even if it develops better than we expect,” said Pierre-Pascal

Urbon. For the current fiscal year, the SMA Managing Board expects sales of between €730 million to €770 million. The decline in sales compared to the previous year is especially attributable to a further decline in demand in Europe and the high price pressure. The SMA Managing Board expects earnings before interest and taxes of between €-30 million to €-60 million in 2015. SMA’s profitability will primarily be determined by the speed at which the planned transformation measures are implemented. With net cash of nearly €230 million at the end of 2014 and a high equity ratio, SMA remains well FINANCED.

Punjab To Launch ‘Solar Power Generation Scheme’ For Farmers Source:PTI

unjab government will launch a ‘solar power generation scheme’ for the farmers to meet the growing challenges of land scarcity, alarming ground water table situation and depleting soil health in the state, officials said recently. The scheme will offer the landowning farmers ‘solar power projects’ ranging 1 MW to 2.5 MW, an official spokesman said. It will have multiple purposes of generating clean and

Feb-Mar 2015

green energy, meeting the challenge of land scarcity as well as developing the entrepreneurial skill amongst them thereby enhancing their income, he said. The initial target is fixed at generation of 500 MW power under this scheme, he said.“This scheme has been specially designed to meet the growing challenges of land scarcity, high cost of land, alarming ground water table situation and depleting soil health,” he said.

in state has reached a satura-

neurial skills amongst farmers

tion point and it becomes im-

which will further give them confidence for setting up of agro-industries/food processing industries,” he said.

perative for exploring more avenues for enhancing the income of farm sector.“The time has come to develop entrepre-

The agricultural production

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& EQBusiness Financial SunEdison Commissions 7.72 MW Solar System For Brakes India Ltd.

unEdison, Inc. the world’s largest

to develop this project to be in compliance

renewable energy company, and

with the Solar Purchase Requirement set

Brakes India Limited (BIL), a

out by Tamil Nadu Electricity Regulatory

leading manufacturer of Automotive and

Commission (TNERC) and the Tamil Nadu

Non-Automotive Braking Systems and

Generation and Distribution Corporation

Ferrous Castings in India, today announced

Limited (TANGEDCO), which states that

that they have installed a solar power

high tension wire customers must source

plant that will generate 7.72 megawatts

6% of their energy use from solar.

of electricity at Brake India’s facilities in Munanjipatti in the state of Tamil Nadu.”We

SunEdison will provide FINANCING

are proud to be working with the leading

and install the solar system, which features

automotive supplier Brakes India to lower

advanced trackers and high efficiency solar

their carbon emissions and electricity costs,”

panels to maximize the amount of electricity

stated Pashupathy Gopalan, President of

generated. The system will generate more

SunEdison Asia-Pacific. “Solar is a great way

than 14 million kWh of electricity a year,

for commercial consumers in Tamil Nadu to

which will offset more than 6% of Brakes

generate reliable, low cost electricity.” Mr.

India’s electricity use. The system is built

Gopalan added: “This system also happens to

in accordance with the Group Capture

be the largest solar power plant built to date

Scheme legislation that was introduced by

under the Group Captive Scheme in India.”

the Electricity Act of 2003, which allows

“SunEdison was an obvious choice for Brakes India when we began our search for procuring solar power,” said S. Kesavan, Executive Director of Operations and FINANCE at Brakes India. “SunEdison’s size, scale, technology and track record of delivering worry-free solar were all very

convincing factors in our decision. This SunEdison system is built with state-of-theart trackers which will allow us to harness more energy from the sun. This collaboration

customers to purchase electricity directly from an independent power provider without involving the local energy distribution company.

with SunEdison strongly supports our commitment to clean and renewable energy.”Brakes India approached SunEdison

Zeversolar Continues Its Solar Revolution

fter having completely redesigned

and Chinese flexibility”, says Sven Schreiber,

and extended its photovoltaic

Executive Vice President at Zeversolar.

excellent quality and double the turnover

inverter portfolio in 2014,

Zeversolar is now planning to double its sales

FAILURE RATES OF 0.6 %

and become one of the leading PV inverter manufacturers in its budget segment.

This year, Schreiber wants to maintain this and megawatts once again. Zeversolar plans on achieving this target by launching new

In 2014, Zeversolar complemented its

generations of string inverters for residential

inverter portfolio and its global coverage

and commercial applications in Zeversolar’s

While completely redesigning its portfolio,

and sold twice as many inverters worldwide

key markets in Europe, Asia and Australia.

the Chinese manufacturer has enhanced

as in the previous year. Besides expanding

“With our simple, affordable and reliable

the quality of its inverters based on the

its existing series with new power ranges,

inverters, we are aiming to become one of

first results of the new owner SMA. “Since

the company launched new inverter series

the leading manufacturers in the budget

we have access to extensive experience in

and equipped all products with new functions

segment worldwide.”

quality management and manufacturing

like reactive power control. “Our results for

processes, we are now able to combine the

2014 show that we were able to reduce our

best of both worlds: German engineering

failure rate to 0.6 percent”, Schreiber says.

Feb-Mar 2015

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& EQBusiness Financial India: Potential Of Renewable Energy In Desert Areas

he Ministry of New and Renewable Energy (MNRE) had assigned a study to the Power Grid Corporation of India Ltd (PGCIL) to identify likely renewable power potential in desert regions in the states of Rajasthan (Thar), Gujarat (Rann of Kutch), Himachal Pradesh (Lahul&Spiti) and Jammu & Kashmir ( Ladakh). This was stated by Sh. Piyush Goyal, Minister of state for Power, Coal & New and Renewable Energy (IC) in a written reply to a question in the Lok Sabha today. The Minister further stated

that in December 2013, the PGCIL had submitted a study report titled “Desert Power India- 2050” assessing renewable power potential, transmission infrastructure requirement, balancing reserve etc in the identified desert regions. The report has assessed the total available potential of 315.7 GW of solar and wind power in these regions. The report has further estimated that the INVESTMENT requirement for harnessing the available potential upto 2050 would be Rs 43,74,550 crore. The INVESTMENTS in renewable energy power projects

are mainly by private sector. Government provides some incentives in the forms of generation based incentives, viability gap funding. Besides, fiscal incentives such as accelerated depreciation, concessional cus-

toms duty, excise duty exemption, income tax holiday for 10 years and preferential tariff are provided for renewable energy power projects, the Minister added.

JA Solar Makes Breakthrough In South Pacific Market In 2014

A Solar Holdings Co.Ltd.one of the world ’s lar g es t m a n uf a c t u r er s of hig h performance solar power products, recently announced t h a t it m a d e a m aj o r breakthrough in the South Pacific market in 2014. JA Solar was the supplier for several national solar projects in countries such as New Zealand, Fiji and Papua New Guinea, and received strong customer feedback and praise for the strong performance of its modules. Most of these solar projects are the first in their respective regions, setting a leading benchmark for the region’s solar industry development. The 350KW Auckland Shopping Centre Project is currently the single largest solar installation in New Zealand. The project is heralded as a major step in the development of clean energy by the New Zealand government. 12

Feb-Mar 2015

The 1 MW Cook Islands Raratonga Airport Project is also the first solar power station in the Cook Islands, helping the airport to reduce diesel consumption by 400,000 litres per year. The 1.96MW Tuvalu

Islands Project is the first local clean renewable energy offgrid system established by the New Zealand government. The 128KW Papua New Guinea Centre Tower Project is the first mall rooftop project in the region. The 550KW Fiji

RADISSON Hotel Project is the first installation by the Radisson chain of hotels. This new partnership with Radisson will be the first of many potential installations for the hotel chain throughout the Pacific.

Mr. Yong Liu, Chief Technology Officer of JA Solar, commented, “Local climate conditions such as wind and high temperature require high PIDresistance, high mechanical load and better low-light performance

for modules. Our modules, known for their high reliability, high conversion efficiency and high power output, can adapt well to South Pacific climate and reduce per watt power generation costs to the utmost. It is a great honor and a testament to our product quality for us to be chosen as the supplier for these model projects in the region.” Mr. Jian Xie, president of JA Solar, added, “As the first projects of their kind in the region, these model projects are of great significance in terms of developing clean and renewable energy, protecting ecological environment, upgrading power supply structure and accelerating the sustainable development of the economy in the region. This breakthrough in the South Pacific region is a new milestone in our effort to expand globally into new markets and reflects our ever-growing global influence.”

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& EQBusiness Financial India: Green Energy Corridor Project

Green Energy Corridor project for evacuation of renewable energy from generation points to the load centres by creating intra-state and inter-state transmission infra-

structure is under implementation in renewable resource rich states for the likely renewable power capacity addition during 12th Five Year Plan period, i.e., by March 2017. This was stated by Sh. Piyush Goyal,

Minister of state for Power, Coal & New and Renewable Energy (IC) in a written reply to a question in the Lok Sabha today. The intra-state transmission component of the project is being implemented

by the respective states and the Power Grid Corporation of India (PGCIL) is implementing inter-state transmission component.

Trina Solar To Supply 48 MW Of Solar Modules To ACME India

rina Solar Limited a global leader in photovoltaic (“PV”) modules, solutions and services,recently announced it has signed an agreement to supply 48MW of solar modules to ACME Cleantech Solutions Ltd.(“ACME”). This new agreement brings the total sales of solar modules to ACME to 70 MW in 2015 to date.According to the agreement, approximately 188,000 Pieces of Honey modules TSM-PC05A will be installed on two groundmounted solar power plants in India. The installations are

expected to provide an annual output of 81.6 GWh. The shipment will be completed in the first quarter of 2015. “We are seeing a significant pick up in the adoption of solar power in India this year and we are delighted to be taking part in the growth with our efficient and high-quality modules,” said Zhiguo Zhu, COO and President of Trina’s module business unit. “India is no doubt a robust and growing emerging market for solar energy. We believe this agreement not only demonstrates

our growing brand awareness in India, but also sets a solid foundation for our expanding business in the region in 2015. We look forward to capturing more market opportunities in India with ACME.” Mr. Manoj Kumar Upadhyay, Chairman of ACME, added, “We first started our partnership with Trina Solar in 2013. We are delighted to further deepen our relationship with Trina Solar on these two projects in India. ACME had delivered many successful projects in the past. Looking into the fu-

ture, we are also very optimistic about India’s solar prospect and are expediting our paces to expand our projects portfolio. We have strong faith in Trina Solar’s dedicated team, comprehensive products and superior product quality and look forward to more partnership with Trina Solar in 2015.”

Trina Solar Overtakes Yingli Green Energy As World’s Top Crystalline Module Producer, Says GlobalData

rina Solar Limited became the world’s foremost producer of crystalline modules in 2014, responsible for 7.9% of global production and displacing Yingli Green Energy (Yingli) as the market leader, according to research and consulting firm GlobalData.The company’s latest findings show that global crystalline module production grew from 33 Gigawatts (GW) in 2013 to 44 GW in 2014 at an annual growth rate of 33.3%, with Trina

Solar producing an estimated 3,500 Megawatts (MW) last year.Sameer Joshi, Director of Research and Analysis for Power and Alternative Energy at GlobalData, says: “Trina Solar was able to surpass Yingli’s module production by around 150 MW in 2014, despite the latter’s increase in production.

to 7.3%. JinkoSolar replaced Sharp Corporation (Sharp), which fell from the third-ranking company to the sixth due to a decrease in sales.”The top five manufacturers alone accounted for more than one-third of overall production, which is along the same lines as 2013 estimates, according to GlobalData.

“J i n ko S o l a r H o l d i n g (JinkoSolar) jumped up two positions from fifth in 2013 to third in 2014, as its market share increased from 5.2%

A m o n g t h e to p f ive companies in 2013, Yingli and Sharp were the only two to go down in the 2014 rankings.Joshi continues: “Canadian Solar

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Inc. retains fourth position, with a 5.6% share in 2014, while JA Solar Holding (JA Solar) is the only company to have entered the group of top five manufacturers in terms of module production.“GlobalData estimates that JA Solar’s production in 2014 increased by more than 53% over the previous year to 2,300 MW, equivalent to 5.2% of the market.”

Feb-Mar 2015

& EQBusiness Financial Solairedirect Accelerates Its International Development And Strengthens Its Position In The Growing Competitive Solar Power Generation Market

resent in India since 2010, Solairedirec t is recently inaugurating the Punjab Solar park in the presence of Mrs. Ségolène Royal, French Minister for Ecology, Sustainable Development and Energy and Mr. Bikram Singh Majithia, the Punjab New and Renewable Energy Sources Minister Spreading across 40 hectares, the park has a capacity of 21 MW and will generate 39 GWh per annum, or the consumption equivalent of 44,000 residents. The contract for this solar park, to be built in the Fazilka District, was won by Solairedirect through a tender by the Punjab state issued in June 2013. Begun in 2014, the construction of the park was handled by the Solairedirect’s Indian and French teams. The project was debt FINANCED by an Indian financial institution, PTC India Financial Services. The park contains a substation

which elevates voltage from 11 kV to 66 kV, which marks a major milestone in the achievement of the most demanding standards in India on industrial, environmental as well as safety levels. This ministerial inauguration is also symbolic of the French and Indian efforts made in respect of the upcoming Climate Change Conference – COP21 2015 – to be held in Paris, with the main objective of achieving a new agreement on climate.

Telangana tender won Solairedirect also won a new tender from the state of Telangana for three projects with a total installed capacity of 57.5 MW and an average purchase price of €95/MWh. This tender fits into the development dynamics initiated by the Indian government in November 2014, aimed at increasing the installed

capacity from 20 GW to 100 GW by 2022 (versus a little over 3 GW at the end of 2014). Solairedirect thus asserts itself as one of the key solar players in India, alongside other players stemming mainly from India and the US. With the winning of the first round of the JNNSM, Jawaharlal Nehru National Solar Mission tender (5.6 MW, in Pokaran), of the second round of this national tender (35 MW, under construction in Rajasthan) and with the Punjab solar park, the company’s capacity in India (operating and under construction) totals 61.6 MW. According to Solairedirect Chairman Thierry Lepercq: “Since 2011, Solairedirect has been standing out on the Indian market through competitive offers, in the face of fierce international competition. Today, the inauguration of Punjab park and the winning of the Telangana tender strengthen our position further and confirm

our capacity to respond to the Indian government’s needs for upscaling its solar capacities.” According to Solairedirect India Managing Director Gaurav Sood: “Solairedirect had a very pleasant experience in building its largest project in India – the 21MW Solar Park in Punjab. The support and facilitation received from the nodal agencies like PEDA (Punjab Energy Development Authority), PIPB (Punjab INVESTMENT Promotion Board) and PSPCL (Punjab State Power Corporation Ltd) was exemplary. There was handholding of the investors by the Honorable Minister of NRES Mr. Bikram Singh Majithia as well as the Power Secretary, Mr. Anirudh Tiwari who. Because of this experience, Solairedirect has applied for 2 more projects of total 54 MW capacities under Punjab NRSE Policy Phase II recently.”

Waaree Energies Ramps Up Solar PV Module Manufacturing Capacity To 500MW And Dedicates It To Hon’ble Prime Minister’s Vision Of “Make In India”

aaree Energies

Surat, Gujarat has become the

Last year Waaree Energies

which will be completed in the

Limited,

largest single location solar PV

managed to secure approximately

next four months.”The company

leading solar

module manufacturing facility

40% of module supply contract

has announced that they are

in India.

in the DCR (Domestic Content

using the latest technology in

PV module manufacturer

Requirement) category, under

solar industry to produce world

completed installation of an

Speaking on the occasion

National Solar Mission Phase

class quality modules with

and project developer has additional 250MW of annual

Mr. Hitesh Doshi Chairman and

II tenders. In view of the huge

reliable performance over its

manufacturing capacity in PV

Managing Director Waaree

demand for our modules from

lifetime.

modules bringing the company’s

Group said “This expansion

Europe, UK, Japan and other

total annual manufacturing

is very much in line with our

African countries apart from

capacity of solar PV modules

Hon’ble Prime Minister Shri.

the Indian MARKETS. We are

to 500MW. With this installation

Narendra Modi’s vision of ‘Make

already working at expanding the

Waaree’s manufacturing plant in

in India’.

production capacity to 1000MW

Feb-Mar 2015

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& EQBusiness Financial IBC SOLAR Starts Building 11 Megawatt Project In Rajasthan, India

BC SOL AR AG, a global leader in p ho tovolt aic (PV ) systems, has started building another megawatt (MW) plant in cooperation with its Indian subsidiary IBC SOLAR Projects Private Ltd. The company received the order to implement the Pokhran turnkey solution with an output of 11 MW as follow-up order of a successful project realised at the end of 2014. The Pokhran project is built in the sunny state of Rajasthan in North-West India, as was the case with the Bhadla solar power plant handed over to the INVESTOR as a turn-key solution at the end of October 2014. Once again, the client and INVESTOR is

a company from LN Bangur Group. The construction of the new 11 megawatt project is the fifth megawatt power plant implemented by IBC SOLAR as an EPC service provider in India. The German system house provided engineering services and technical supervision, while the Indian subsidiary is responsible for the construction work on site. The plant is scheduled to be connected to the grid at the end of March. Given the topographically challenging conditions in India, IBC SOLAR has decided to employ a customised power plant design to ensure the highest possible quality and a high total return for the investor. The soil

in the Pokhran construction site used to be a seabed consisting of sand and lime sediment. In order to protect the foundation against corrosion caused by the salt, the metal foundations will be covered in an additional concrete layer. The groundwater in Pokhran is also extremely salty and can therefore not be used for the subsequent cleaning of modules which is regularly required in India in order to secure the forecast yields. That’s why a desalination plant will be installed for the subsequent technical operation and maintenance (O&M).Flood control is also an important issue in Pokhran to ensure a safe operation of the plant over the next 20 to 25 years. The terrain

is therefore crossed by a 29 feet wide water ditch in East-West direction, referred to as Nallah. It has been installed to drain the high levels of water during the rainy season. Electronic components such as transformer stations and central inverters will be mounted about 30 to 40 inches high to provide additional flood protection. The project is FUNDED by JNNSM (National Solar Mission). Components being used are therefore produced in India, such as mounting systems, modules, and some electrical parts.

Adani, Government Of Rajasthan To Set Up India’s Largest Solar Park Of 10,000 MW

igns MoU to jointly set up Solar p a r k s in clu din g Solar Power Projects and manufacturing unit for Solar module, parts and equipment in Rajasthan

clean energy of approx. 16,644 MUs and reduce carbon footprint by approx. 16.2 MT

include generation projects and a manufacturing unit for solar module, parts and equipment.

• The proposed park will create huge direct & indirect employment opportunity

• Adani Enterprises & Rajasthan Renewable Energy Corp Ltd sign MOU

Adani Enterprises Ltd (AEL), the flagship company of Adani Group, India’s leading integrated infrastructure player and Government of Rajasthan have signed a Memorandum of Understanding (MoU) to jointly set up India’s largest solar park of 10,000 MW in Rajasthan.

“India ha s embarked upon an ambitious program of becoming a world leader in renewable power generation, with a special focus on solar. The development of Solar Park facility is our contribution towards realization of our Honorable Prime Minister’s campaign and commitment towards clean and green energy in India.” said Mr Gautam Adani, Chairman, Adani Group.

A EL a n d R aj a s t h a n Renewable Energy Corporation Ltd will form a joint venture to set up the solar park, which will

The solar park will produce clean & green energy of approx. 16644 million units, furthering India’s goals for clean, renewable

• Adani Enterprises and Rajasthan Govt to form JV for setting up solar park facility in Rajasthan • The proposed JV to set up 10,000 MW of Solar Park in Rajasthan, the largest in India • Solar park to generate

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energy independence. The Indian government has announced to set up 100,000 MW of solar capacity by 2022. They have also issued guidelines for setting at least 25 solar parks each with a capacity of 500 MW and above across India. Last month, AEL signed an MoU with US-based SunEdison Inc to jointly INVEST $4 billion in setting up India’s largest integrated solar photovoltaic making plant in Mundra, Gujarat.

Feb-Mar 2015

& EQBusiness Financial Reliance Power Signs MOU With Government Of Rajasthan To Develop 6,000 MW Of Solar Power Projects

eliance power set to become the largest renewable power company in india Reliance power’s 100 mw concentrated solar power (csp) - world’s largest solar plant based on compact linear fresnel reflector (clfr) technology - dedicated to the nation by hon’ble cm of rajasthan

Power projects in the State of Rajasthan over the period of next 10 years. The MoU was signed at Jaipur in the presence of Hon’ble Chief Minister of Rajasthan Smt. Vasundhara Raje and Chairman

PV plants, ever conceived and implemented in India. This is also the largest plant in the World based on Compact Linear Fresnel Technology (CFR)

The project will reduce India’s CO2 emissions by about 2,40,000 tonnes per year which isequivalent to CO2 sequestered by 6 Million tree seedlings grown for 10 years or taking 80,000 cars off the road..

project located at dhirubhai ambani solar park, dhursar, rajasthan the largest utility scale solar power generation complex implemented in india reliance power has an operating portfolio of nearly 6000 mw including 185 mw of renewable energy reliance power operates two solar plants in rajasthan of 100 mw & 40 mw respectively reliance power’s green portfolio also includes wind power project of 45 mw based in vashpet, maharashtra Reliance Power and the Government of Rajasthan (GoR) today signed a Memorandum of Understanding (MoU) to develop 6,000 MW of Solar

of Reliance Power Shri Anil Dhirubhai Ambani. The Hon’ble Chief Minister of Rajasthan also dedicated Reliance Power’s 100 MW Solar CSP Project1 to the Nation. The project, located at Dhirubhai Ambani Solar Park at Pokaran in 1 100 MW plus reserve margin of 25% to meet 25 year PPA obligationsJaisalmer district of Rajasthan. Dhirubhai Ambani Solar Park, is the integrated utility-scale solar power generation complex, comprising of both CSP and

energy annually, equivalent to consumption of 2,30,000 households, contributing to the nation’s goal of energy security.

About Solar CSP Power Plant Rajasthan Sun Technique Energy Private Limited, a wholly owned subsidiary of ReliancePower, was awarded the CSP project in December 2010, based on international competitive bidding conducted by NTPC Vidyut Vyapar Nigam Limited (a subsidiary of NTPC Ltd.). The CSP Plant is expected to generate about 250 million kilowatt hours of clean and green

The project is the largest investment undertaken by any private sector entity in CSP Technology in India. The project is financed through Debt from multilateral agencies like A sian Develo pm en t Bank (ADB), Export Import Bank of the United States, Financerings Maatschappu Voor Ontwikkelingslanden N.V. (FMO), Netherlands and Axis Bank. The State-Of-The-Art CFLR Technology for the project is provided by Areva Solar the US subsidiary of the AREVA SA of France, which is having minimal environmental spill, lesser land requirement and is more efficient than other solar thermal technologies available.

Punjab: ACME To Invest Rs 600 Crore; To Set Up Solar Plants

CME Group will INVEST Rs 600 crore for setting up 74 MW of solar photo voltaic (PV) power projects in Punjab. The company bagged these projects under competitive bidding route.“As per the RFP document, ACME would

Feb-Mar 2015

be signing two PPAs (power purchase agreements) of 24 MW and 50 MW capacity, at a tariff of Rs 7.16 per unit and Rs 7.06 per unit, respectively” ACME said in a statement. “We take pride in announcing our partnership with

the Punjab government as the largest solar power developer in the state and help them in their endeavor to fuel the solar revolution in the country,” Manoj Kumar Upadhyay, Founder & Chairman, ACME said.Through our expertise, the company shall bring to the state the success

of renewable energy similar to that the country witnessed in the telecom sector, he added. This project would entail an estimated INVESTMENT of Rs 600 crore, the statement added.

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& EQBusiness Financial Deutsche Bank Invests EUR 1 Billion In Green Bond Portfolio

eutsche Bank recently announced its intention to invest EUR 1 billion into a portfolio of high quality liquid assets in the form of Green Bonds. These will be held as part of the Bank’s Liquidity Reserve INVESTMENTS. Deutsche Bank has already made EUR 200 million in eligible Green Bond INVESTMENTS and plans for this portfolio to reach EUR 1 billion.Green Bonds are fixed income instruments which finance environmentally sustainable projects while offering competitive returns. By establishing this portfolio, Deutsche Bank aims to support the development of the Green Bond segment. Deutsche Bank is one of the founding members of the Green Bond Principles which

establish voluntary guidelines for transparency and disclosure for the benefit of both issuers and investors. Growth in the portfolio will be focused on new primary market investments in eligible sovereign, supranational and agency issued bonds.Launching the initiative, Alexander von zur Mühlen, Group Treasurer of Deutsche Bank, said: “The Green Bond market has matured during 2014 and the size and number of offerings has substantially increased making green securities viable and prudent liquidity buffer investments. Deutsche Bank builds on the work of the Bank’s successful Green Bond origination franchise in highlighting this opportunity

to fund sustainable energy initiatives whilst achieving attractive returns.” Marking the portfolio launch, Deutsche Bank will invest in the new 10-year green bond issue by the World Bank. Doris HerreraPol, Director and Global Head of Capital MARKETS at the World Bank, said: “We are pleased that Deutsche Bank’s Treasury has chosen World Bank Green Bonds as one of the first investments for its newly established green bond portfolio. Deutsche Bank’s decision to set up a dedicated portfolio shows the growing appeal of green bonds. It supports the expansion of the green bond market as it continues to mobilize private sector FUNDS for climate finance.”

Eila Kreivi, Director and Head of Capital Markets Department at the European INVESTMENT Bank (EIB), commented: “The EIB welcomes Deutsche Bank’s initiative, which underlines the recent strong progress and potential of the Green Bond segment. It is valuable that such a prominent investor is providing added leadership and committing in size.”

India One Of Top Lucrative Destinations For Off-Grid Renewables Investment

c ri t i c a l r e p o r t offering off- grid renewable energy solutions for India was launched at an energy and business event in New Delhi this week, where prominent business, government and civil society leaders agreed India is one of the smartest destinations to INVEST in off-grid renewable energy, owing to fast-growing sectors. Published by The Climate Group in partnership with Goldman Sachs Center for Environmental Markets, the report, The business case for off-grid energy in India, aims to identify the most promising and innovative business models to INVEST in, and was unveiled at the RE-INVEST summit by Dr.

Jaco Cilliers, Country Director, UNDP India, Uday Khemka, Vice Chairman, Sun Group and Rohit Kansal, Divisional Commissioner Kashmir. During the launch, emphasis was laid on how off-grid energy must play a pivotal role in India’s wider transition to a sustainable energy future. As one of the largest energy consumers in the world, the study shows that India can achieve the energy revolution it’s aiming for if the private sector boosts INVESTMENT in decentralized renewable energy and solar home systems, a move which the speakers agreed “can be done so affordably”.Parimita Mohanty, Director of Strategic Initiatives, The Climate Group,

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reiterated the attendees when she said: “India stands today as one of the most potentially lucrative destinations for INVESTMENT in the renewable energy sector, and estimations s ay the market size of decentralized renewable energy (DRE) alone will be at least US$350-400 million by 2018. What the DRE sector needs at this moment is commercially viable, institutionally replicable and environmentally sustainable business models.” The repor t highlight s that nearly 50% of India’s rural population, 80 million households, has little or no access to grid-based electricity and instead, relies on dangerous

kerosene as its primary source of lighting.Authors point out that this energy demand gap can be filled with DRE businesses, which serve close to 100,000 households today. That number is set to grow rapidly at 60-70% annually to 900,000 by 2018. Overall, the study estimates the market size of the DRE segment will be at least US$50 million by 2018, largely driven by business-to-business revenues. Growing awareness, falling price points and greater access to FINANCE are making offgrid energy solutions, including DRE, but also solar lanterns and solar home systems, increasingly attractive to consumers.

Feb-Mar 2015

& EQBusiness Financial Citi Announces $100 Billion, 10-Year Commitment To Finance Sustainable Growth

iti announced re-

Corbat, Chief Executive Offi-

initiative is part of a new five-

waste to landfill by 41 percent,

cently a landmark commitment to lend,

cer of Citi. “For more than 200

year sustainability commitment

all from a 2005 baseline. Citi is

years, Citi’s mission has been to

that also focuses on environmen-

on track to meet its 2015 goals

INVEST and facilitate a total of

enable progress by facilitating

tal and social risk management

of reducing water usage by 20

$100 billion within the next 10

economic growth and financing

and sustainability goals for Citi’s

percent, and see its global real

years to FINANCE activities that

transformative projects. The

own businesses and operations.

estate portfolio 20 percent more

reduce the impacts of climate

core mission hasn’t changed,

change and create environmen-

but the way we approach it has.

Citi has established new

tal solutions that benefit people

Incorporating the principles of

environmental footprint goals

and communities. Citi’s previous

sustainability into everything we

for 2020, including 35 percent

Environmental and social

$50 billion goal was announced

do improves our own operations,

reduction in greenhouse gas

risk management remains a

in 2007 and was met three years

enhances our clients’ work, and

(GHG) emissions, 30 percent

key priority and policy and

energy efficient, and 15 percent

early in 2013.

LEED certified.

standards will continually evolve in response to emerging risks

With this $100 billion ini-

and new product development.

tiative, Citi will build on its

Citi was one of the founders

leadership in renewable energy

and original signatories of the

and energy efficiency financing

Equator Principles, which pro-

to engage with clients to iden-

vide environmentally responsible

tify opportunities to FINANCE

guidelines for INVESTING in

greenhouse gas (GHG) reduc-

the developing world.

tions and resource efficiency in other sectors, such as sustainable transportation. As part of

“Climate change is expected contributes to a better world.”

a commitment to helping cities

reductions in energy and water

to impact virtually every sector

use and 60 percent reduction

of the economy,” said Mindy

thrive during this period of un-

“Reducing carbon emissions

in waste, all against a 2005

Lubber, President of the sustain-

precedented urban transforma-

and becoming more climate re-

baseline. The initiative also

ability nonprofit group, Ceres,

tion, Citi will seek to FINANCE

silient is a key priority and major

includes a longer-term 2050

which gave input and convened

and support activities that en-

challenge for the world’s mega-

GHG emissions reduction goal

stakeholders to provide feed-

able communities to adapt to

cities and their business commu-

of 80 percent, created using a

back as the commitment was

climate change impacts and

nities,” said James Alexander,

climate science-based method-

developed. “The FINANCIAL

directly finance infrastructure

Head of the Finance and Eco-

ology. Targeting 33 percent of

services industry has a big role

improvements that increase

nomic Development Initiative at

its real estate portfolio to be

to play in scaling up global clean

access to clean water and man-

C40 Cities Climate Leadership

LEED certified, Citi will also

energy investments, and we ap-

age waste, while also supporting

Group, a network of the world’s

seek LEED Platinum certifica-

plaud Citi’s leadership as the

green, affordable housing for

biggest cities working to become

tion for its 388/390 Greenwich

company continues to innovate

clients, including in low- and

more sustainable. “C40’s on-

Street facility in New York City,

and expand its efforts.”

moderate-income communities.

going partnership with Citi is

which will become the compa-

helping global cities overcome

ny’s global headquarters once it is fully renovated.

“Citi has demonstrated its

their climate finance challenges.

deep commitment to not only

Today’s announcement from Citi

taking environmental conse-

will add further opportunities to

In 2013, the company met

quences into account, but also

help cities achieve their climate

2015 operational performance

finding innovative ways to fi-

targets, and allow businesses to

goals for GHG emissions and

nance projects that lead to sus-

become more sustainable.”

waste two years early, reduc-

tainable growth,” said Michael

Feb-Mar 2015

This environmental finance

ing emissions by 25 percent and

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& EQBusiness Financial UK Green Investment Bank Agrees Terms On £200M International Pilot

ollowing a written statement to the House of Commons this morning the UK Green Investment Bank plc (GIB) can now announce that it has agreed terms with the Department for Energy and Climate Change (DECC) on a £200m international green investment pilot programme.

Key features include: The pilot will involve £200m of investments. This is additional to GIB’s allocation of £3.8bn to invest in UK projects; GIB will initially target three regions East Africa, South Africa and India; GIB will focus on investments in renewable energy and energy efficiency; GIB’s approach to the pilot will match the business model it has developed for the UK - investing in green projects on commercial terms and mobilising additional private sector capital; GIB will recruit a dedicated team to manage the project, overseen by a Board whose members will be drawn from DECC and GIB. GIB will now begin the process of finalising the programme details and identifying suitable investment opportunities. All investments will be announced publicly, in line with GIB’s existing commitment to transparency. Shaun Kingsbury, chief executive of UK Green Investment Bank, said: This important new pilot programme will see GIB investing outside the UK for the first time. I am confident that our unique business model, tried and tested in the UK, will have a very positive effect in developing countries, helping them to build vital new green energy infrastructure.

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Feb-Mar 2015

& EQBusiness Financial Solar Frontier And Welspun Renewables Sign 100 MW CIS Thin-Film Solar Module Supply Agreement

olar

Frontier

and

of its project sites, and because

Renewables is present across

talline silicon modules in real-

Renew-

of this we prefer to work with

nearly all states in India.“We

world

ables announced re-

Tier 1 technology providers.

are honoured to continue work-

This includes hot climates such

cently the signing of a 100 MW

We have worked with Solar

ing with Welspun Renewables

as in India, where CIS modules

solar module supply agree-

Frontier on multiple projects

on its mission to help India

benefit from a low temperature

ment. Solar Frontier will sup-

before, and we do so again

meet its growing energy re-

co-efficient (meaning a smaller

ply its proprietary CIS thin-film

based on the proven high elec-

quirements in an efficient,

loss in conversion efficiency as

solar modules, manufactured in

tricity yield and quality of its

environmentally-friendly man-

temperature increases), and

Japan, to Welspun Renewables

CIS technology, on top of the

ner,” said Atsuhiko Hirano,

their “light-soaking effect”,

– a LEADING GENERATOR

company’s close support.”

CEO of Solar Frontier. “This

which further boosts power

is a landmark agreement for

output after the module is ex-

Welspun

of solar energy in India. Solar

operating

conditions.

Frontier’s CIS modules will be

posed to light.Solar Frontier is

used in Welspun Renewables’

the world’s largest provider of

upcoming solar power projects

CIS solar energy solutions by

in India at sites with high levels

shipments and revenue. Manu-

of solar irradiation.

facturing at GW-scale capacity from the southern Japanese

“Solar energy is a priority

prefecture of Miyazaki, its

sector for meeting India’s high

advanced production process

demand for clean, renewable

has enabled it to achieve the

and economical energy. The

highest level of mass produc-

government of India has set a

tion thin-film efficiencies at

target of 175 GW of renew-

world-class production costs.

able energy by 2022, of which

In 2015, Solar Frontier is re-

100 GW will be solar energy.

Welspun Renewables’ sup-

Solar Frontier as we continue

engaging the global market,

Agreement with Solar Fron-

ply agreement follows a re-

to develop our presence in key

from the Americas to Europe,

tier brings us one step closer

cent spate of Power Purchase

international

South and Southeast Asia.

to meeting our green energy

Agreements that the company

companies that are sustainable

commitment,” said Welspun

has signed with multiple state

and show willingness to work

Renewables’ Director, Sindoor

governments.

closely together.”

Mittal. “Welspun Renewables

targets commissioning over 1

is committed to achieving high

GW of solar and wind capac-

CIS modules generate a

level quality benchmarks at all

ity within fiscal 2015. Welspun

higher energy yield than crys-

The

company

markets

with

Sembcorp Completes Acquisition Of Renewable Energy Company, Green Infra, In India

urther to its announcement on February 11, 2015 on the signing of agreements to acquire a 60% stake in Green Infra, Sembcorp Industries (Sembcorp) is pleased to announce that it has successfully completed the acquisition.

Feb-Mar 2015

The total consideration for Sembcorp’s stake is Rs 10.6 billion (approximately S$227 million), which is financed by a mixture of internally generated FUNDS and debt financing. With the completion of the acquisition, Sembcorp now

holds 60% of Green Infra, while the remaining 40% is held by IDFC Private Equity FUND III, which is managed by IDFC Alternatives. Sembcorp now has over 1,000 megawatts in renewable energy capacity globally, and a total gross power capacity of almost 7,900

megawatts in operation and under development worldwide. The acquisition is not expected to have a material impact on the earnings per share and net asset value per share of Sembcorp Industries for the FINANCIAL year ending December 31, 2015.

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& EQBusiness Financial Plans For Massive Solar Power Push

he Government has a proposal to Scale up Grid Connected Solar Power Projects from 20,000 MW to 1,00,000 MW by 2022 under National Solar Mission (NSM). The plan of action to achieve the target is under preparation. This was stated by Sh. Piyush Goyal, Minister of state for Power, Coal & New and Renewable

Energy (IC) in a written reply to a question in the Rajya Sabha today. The Minister further stated that M/s PricewaterhouseCoopers Pvt. Ltd. has been engaged as a consultant for formulation of solar energy scale up plan. Their role is therefore, limited to the contract with them. Some of the work to be

undertaken by M/s PWC are as under : i. To assess the power scenario of India and analyse the efficacy of on-going initiatives by MNRE. ii. Bring out a realistic demand projection and capacity addition plan iii. Evaluate likelihood of attainment of grid parity iv. Analyze the robustness

of existing evacuation system to handle the planned capacity addition v. Estimate the likely capital requirement for meeting capacity addition vi. Gather feedback of relevant stakeholders vii. To develop a holistic plan to achieve the objective

Indian Railways Plans 1,000 MW Of Solar Energy Projects Bloomberg Reports

ndian Railways plans to tap the sun for energy needs so that it can reduce its dependence on electricity generated by fossil fuels.The rail network plans 1,000 megawatts of solarpower projects in the next five years, Minister Suresh Prabhu said in parliament on Thursday. Developers can use the railway

land and buildings to set up solar panels, he said. The minister was presenting the railway budget for the year beginning in April. Prime Minister Narendra Modi is asking state-run companies to start INVESTING in clean energy as world’s second-most populous nation targets 100 gigawatts of solar

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capacity by 2022. India’s armed forces will set up 300 megawatts of photovoltaics by 2019.“Solar power has become cost competitive,” said Bharat Bhushan Agrawal, an analyst with Bloomberg New Energy FINANCE in New Delhi. “It is one of the best sources to generate electricity in remote and off-grid areas.”

Indian Railways will use solar power to light up stations and office buildings.The minister said he plans to purchase power by soliciting bids from generators and power exchanges, resulting in savings of 30 billion rupees ($485 million). Funds will be available for the solar project, Prabhu said.

Feb-Mar 2015

& EQBusiness Financial NTPC Commits to Add 10K MW of Solar

TPC has committed to add 10,000 MW through Solar Projects at RE- INVEST - 2015 the First Renewable Energy Global Investment Meet held in New Delhi. Dr. Arup Roy Choudhury, CMD, NTPC presented the certificate of commitment to Hon’ble Prime Minister ,Shri Narendra Modi in the presence of Shri Piyush Goyal, Hon’ble Minister of State (Independent Charge) for Power, Coal and New & Renewable Energy and Shri P.K. Sinha , Secretary, Power, GOI. Committed to the solar initi-

FY. Availability of land and PPA arrangement are being explored in other states like Chhattisgarh, Uttar Pradesh, Puducherry, Gujarat etc.

atve NTPC has already floated Notice Inviting Tender for four Solar Project of 250 MW each in Andhra Pradesh, Madhya Pradesh, Telengana & Rajas-

than and one Solar Project of 500 MW in Andhra Pradesh. The first 250 MW Solar project in Anantapur in Andhra Pradesh is expected to be awarded this

NTPC has already commissioned 8 MW scale solar projects in different parts of India totalling 110 MW, out of which Rajgarh Solar Project of 50 MW in Madhya Pradesh is the largest. NTPC generated more than 100 Million Units by RE during 2014-15

India Clean Energy Investments Bounce Back, Set To Breach The $10Bn Mark In 2015

apital inflow expected to surge this year, thanks to strong policy support and increased INVESTOR confidence Clean energy INVESTMENTS in India jumped to $7.9bn in 2014, helping the country maintain its position as the 7th largest clean energy investor in the world. The upswing was driven by the newly installed government elected in May 2014 which supports clean energy reforms. The numbers, just released by research firm Bloomberg New Energy Finance, show that the government’s ambitious plan of 24/7 power for all Indians is gaining traction. Other major initiatives: 100GW of solar installations and INVESTMENT of over $100bn in clean energy in the next five years are also building momentum. Bloomberg New Energy Finance estimates that 2015 will be the second time 22

Feb-Mar 2015

ever that clean energy investments will pass $10bn. A record $13.1bn was deployed in 2011. Ashish Sethia, head of South & Southeast Asia at Bloomberg New Energy Finance, said: “Interest in India from domestic and foreign INVESTORS has grown in the last six months. Early signs of policy interventions are positive. Specific yearly installation targets would further help investors.” Bharat Bhushan Agrawal, lead India solar analyst at Bloomberg New Energy Finance, added: “After two years of continuous decline in INVESTMENTS, in both India and around the world, the trend reversed last year. We expect INVESTMENT in India to rise in 2015 and later, particularly with the rise of solar power.” BNEF analysis shows that India has one of the lowest levelised costs of renewable energy

generation in the world. With the rising cost competitiveness of renewables and increasing interest in clean energy consumption by large commercial and industrial consumers, project installations are also expected to rise this year. BNEF expects 2,500MW of new solar capacity in 2015 – a 1.5 times increase over last year. Wind installations are estimated to reach 2,800MW ¬ – up 22% from 2014. The government is working on introducing big ticket reforms in the power sector by amending the Electricity Act of 2003. Major reported highlights include the unbundling of power distribution, enforcement of renewable purchase obligations, and introduction of renewable generation obligations on power producers.

the state governments. That is where the projects are installed, the power generated and consumed.” Six years of clean energy investment in India: w

2015 $10.0bn+

2014 $7.9bn

2013 $7.0bn

2012 $7.8bn

2011 $13.1bn

2010 $9.3bn

Sethia commented: “The planned reforms are going to strengthen renewables in India further but the federal establishment also needs to align with

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& EQBusiness Financial Yes Bank Commits To Financing 5 Gw Of Renewable Energy Projects By 2019

ES BANK, India’s

Increasing Renewable Energy

projects. As a key partner in

meet the bank’s Green Energy

4th largest private

INVESTMENTS in India” at

making RE-INVEST one of

Commitment.

sector bank, is

the event.

the world’s leading Annual Renewable Energy Conferences,

With the share of renewable

Mr. Rana Kapoor, MD &

YES BANK has supported two

energy in total power generation

the first private sector bank to provide a Green Energy of

CEO, YES BANK said, “India

technical sessions and hosting

expected to increase from

FINANCING 5 GW (5,000 MW)

has the potential to be amongst

one break-out session, and also

the present 6.5% to 15% by

of renewable energy projects

the top 3 countries globally in

work with the Invest India team

2019, there is significant scope

over the next 5 years. The GEC

the next five years in terms of

to activate the RE INVESTOR

for companies in this space.

was presented by YES BANK to

installed capacity of renewable

Facilitation Cell to ensure

78.1% of India’s wind energy

Hon’ble Finance Minister Shri

energy, thereby creating

maximum outcome from the

potential and 99.6% of solar

Arun Jaitley at the Valedictory

millions of new jobs, reducing

Summit.

energy potential still remains

session of RE-INVEST 2015,

poverty and achieving sustained

the inaugural edition of the

socioeconomic development.

YES BANK ha s also

tremendous growth potential in

flagship renewable energy

Bold initiatives, such as

launched India’s FIRST ever

the renewable energy industry.

INVESTMENT summit and

Green Energy Commitments,

Green Infrastructure Bonds

expo; by the Ministry of New

with proactive involvement

to raise INR 500 Crores (with

As an institution built on

and Renewable Energy (MNRE)

of industry, will enable the

a greenshoe option to retain

the cornerstone of Responsible

in partnership with the Indian

Government to achieve its target

additional INVESTMENT). The

Banking, YES BANK remains

Renewable Energy Development

of generating 100 GW of Solar,

bonds are for a tenor of 10 years

fully committed to helping the

Agency (IREDA).

60 GW of Wind, 10 GW of Bio-

and rated AA+. The amount

Government in establishing a

Energy and 5 GW of Small Hydro

raised will be used by YES BANK

platform for industry and other

power by 2022.”

to finance Green Infrastructure

stakeholders for achieving 100

Commitment

(GEC)

YES BANK has also been recognized as the pro-bono

untapped, pointing towards a

Projects in Renewable Energy

GW of installed Solar Power

Knowledge Partner for RE-

YES BANK ha s also

and Energy Efficiency Projects

capacity in India.

INVEST 2015, and also prepared

catalyzed GECs from 45 of its

including Solar Power, Wind

and released a knowledge report

clients, amounting to more than

Power, Biomass, and Small

called “Realising Synergies:

160 GW of renewable energy

Hydel Projects, and in turn

Indian Union Budget 2015 Comment - Vineet Mittal, Vice Chairman Welspun Renewables We w o u l d l i k e t o congratulate the Honorable FINANCE Minister Shri Arun Jaitleyji for offering measures conducive to the growth of the infrastructure sector. Overall it’s a positive budget for the industry. As direct INVESTMENT in the infrastructure sector will surely lead to increase in the GDP growth of the country.With the announcement of the renewable capacity target Honorable Minister has re-emphasized the government’s commitment to renewable energy. The infrastructure sector

has been facing funding challenges and some of the measures introduced will surely

help this situation. By doubling the cess on coal to Rs. 200 per tonne , the government is

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creating an additional corpus of funds for clean energy projects. INR 75,000 crore has been apportioned for infrastructure sector. We are happy that it’s a sizable amount.The Honorable Minister has provided much needed clarity on capital gain tax on the Sponsors, at the time of offering the assets to InvIT, and waiving it off. This was one of the issues which was preventing the implementation of the InvIT . Waiving it away will help this vehicle to take-off and will attract billions of dollars of foreign INVESTMENTS in India.

The National Investment and Infrastructure Fund (NIIF) with an annual flow of Rs 20,000 crore has been announced and this will help raise investments as equity in infrastructure FINANCE companies which can further fund the Renewable Projects at competitive pricing. This could be used to develop a sizeable IDF to fund the huge capital outlays required to achieve the target of 175 GW by 2022. The IDF can make a substantial contribution to the Infrastructure development and can attract investors if provided tax breaks for the Investors.

Feb-Mar 2015

& EQBusiness Financial Waaree Energies Ltd And Surat Municipal Corporation To Light Up Schools, Hospitals And STP Under The ‘Solar City’ Programme

aaree Energies Limited, a leading solar PV module manufacturer and project developer has secured the tender floated by Surat Municipal Corporation (SMC) to commission 540kWp of solar photovoltaic power plant. This order is part of SMC’s ‘Solar City’ programme under which

it has a target of reducing conventional energy demand by 10% through RE & EE measures. Waaree has assured to execute this project within the tight deadline of 45 days while ensuring high quality of workmanship. Speaking on the occasion Mr. Hitesh Doshi Chairman

an d Man agin g Dire c t o r Waaree Group said” Under this project we will install 12 solar photovoltaic power plant at different locations. Some of these are primary schools, some are hospitals, STP’s, Multipurpose halls and Multi-level parking. These installations will have a direct impact on the life of

the common man, which makes this project very special. This project will display the true potential of a distributed solar power system by empowering local communities and raising the standard of living.”

Post-Budget Reaction By Mr Tulsi Tanti, Chairman- Suzlon Gorup

e welcome this budget as it is positive, growth oriented and puts forth realistic roadmap to attain sustainable economic growth.

ment to green India manifests in some of the additional measures such as increasing the coal cess from Rs. 100 to Rs 200 thereby providing impetus to clean energy

The government’s thrust on renewable energy is clearly visible in the target of achieving 175 GW by 2022.

We appreciate the focus on providing impetus to the Make in India vision by giving clarity on taxes, definitive measures to ease of doing business in India and encouraging domestic and foreign direct INVESTMENT.

India in the last 25 years India has done 34 GW and in the next 7 years we now have a target of 175 GW, comprising of 60GW wind energy which is an ambitious target for the industry and we welcome the move since it is in the right direction.

The budget reiterates mission and vision of the government to achieve the following: · Affordable sustainable energy for all · Low carbon economy · Achieve energy security · Long term sustainable economy & sustainable jobs The government’s commit-

However, in our view to provide further stimulus for investment in captive renewable power by the manufacturing units, interest rebate should be given,

which will also ensure success of Make In India. Further, innovative FINANCING measures such as infrastructure bond, creation of mudra bank for MSME sector also augurs well for Make in India. So overall we see the budget has provided several initiatives to boost manufacturing in India. We are confident that the renewable energy in India will take off from here and witness exponential growth in the next few years and will power a greener tomorrow.

SECI Signs MOU With THDCIL For Development Of 250 MW Of Solar Projects

n t h e o c c a sio n of curtain raiser press conference of RE-INVEST 2015 held on 13.02.2015, Solar Energy Corporation of India (SECI) and THDC India Limited (THDCIL) have entered into a Memorandum of Understanding

Feb-Mar 2015

(MoU) for development of Solar Projects of 250 MW capacity which would be executed by SECI on turnkey basis. The MoU envisages collaboration and cooperation for project im plem en t ation wh erea s THDCIL would be the project owner, SECI would execute

them on turnkey basis. The MoU was signed by Shri C. Kannan, Director (FINANCE) SECI and Shri D. V. Singh, Director (Technical) THDCIL in presence of Shri Piyush Goyal, Union Minister of State (I/C) for New and Renewable

Energy, Power & Coal, Shri Upendra Tripathy (Secretary, MNRE), Shri Tarun Kapoor (Joint Secretary, MNRE), Shri R.S.T Sai (CMD, THDCIL) and Dr. Ashvini Kumar (MD, SECI).

www.EQMagLive.com

& EQBusiness Financial Global Solar PV Capacity To Reach Nearly 500 GW In 2019, IHS Says

otal global solar

is expected to continue through

number of country markets

are forecast to decline by 27%

photovoltaic (PV)

to 2019, when the utilization

reduces the risk of another

between 2015 and 2019,

capacity is forecast

rate at module production is

explosion in the global PV

reaching $0.45 per watt (W).

to reach 498 gigawatts (GW)

projected exceed the peak

market and of an overly strong

The share of thin-film modules

in 2019, which is 177% higher

utilization rate reached in

capacity build-up. An increasing

produced is projected to decline

than 2014, according to IHS the

2010, when the global market

number of markets are entering

from 8% in 2014 to 7% this

leading global source of critical

experienced explosive growth.”

year—the lowest share recorded

information and insight. While

since 2010, when c-Si module

total global solar PV demand

Based on findings of the

shortages opened the door for

is projected to grow steadily,

latest IHS Marketbuzz report,

thin-film technology to reach a

the large number of discrete

global solar demand is expected

production share of 15%.Due

country markets at the gigawatt-

to reach 75 GW in 2019, which

to the expected supply-driven

level will help reduce demand

is 66% higher than in 2014.

market situation, the share of

volatility.

Last year, the largest global

thin film is projected to remain

markets were China and Japan,

at 7% through 2019. Within

“Last year, the market began

which together accounted for

the thin film category, growth

to shift toward a more supply-

half of total demand. The US,

the post-feed-in-tariff phase and

is likely to be driven by cadmium

driven market, characterized by

UK, and Germany together

embracing the integration of PV

telluride (CdTe) and copper

high utilization rates, following

accounted for another quarter of

into the electricity market, which

indium gallium selenide (CIGS).

the more demand-driven market

total demand.”In the five years

will help the market to avoid

By 2019, annual production of

that led to PV manufacturing

between 2015 and 2019, IHS

boom-and-bust situations.”

a-Si modules is projected to fall

consolidation,” said Susanne

expects that 11 global markets

von Aichberger, solar industry

will exceed the average annual

Average selling prices

analyst for IHS Technology,

demand level of 1 gigawatt,”

(ASPs) of standard c-Si modules

formerly Solarbuzz. “This trend

von Aichberger said. “This large

(i.e., c-Si excluding Super Mono)

to less than half of its 2014 level.

KPMG Launches New Guide For Green Bond Issuers

PMG recently published a paper aimed at helping private and public sector organizations to overcome challenges commonly experienced when issuing green bonds. The paper – Gearing up for Green Bonds – is published as part of KPMG’s Sustainable Insight series. It addresses five key questions for issuers: Should we label our bond ‘green’? How do we define what makes the bond ‘green’?

issuing a green bond? What type of external Assessment should we seek? How can we avoid accusations of ‘greenwash’? The paper also provides readers with an overview of evolving green bond frameworks and standards including the Green Bond Principles, Climate Bonds Standard and green bond indices. It provides practical advice on defining a green bond, choosing the right level of external assessment and protecting the issuer’s reputation and the credibility of the green bond.

What should we report on after

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Adrian King, Global Head of Sustainability Services at KPMG, said, “The green bond market is growing rapidly with US$100 billion of issuances predicted for 2015. Perhaps inevitably in a new and fast-growing market, standards and ideas of best practice are still evolving. Challenges and confusion can arise as organizations assess whether issuing a green bond is the right course of action for them and seek to understand the process involved. “KPMG member firms increasingly support clients on green bonds issuance in both advisory or assurance capacities. There are a number of questions

that we are typically asked. We have addressed these in our new paper and hope this is a useful resource for any organization embarking on a green bond journey.” KPMG member firms have provided advice and independent third-party assurance to some of the first organizations to issue green bonds across the world including clients in Australia, India and the UK. KPMG was the first major accountancy firm certified to provide green bond verification to the Climate Bonds Standard and member firms continue to play a role in the development of market standards and guidance.

Feb-Mar 2015

& EQBusiness Financial Indian Solar Installations Totaled 883 Mw In 2014; Breakout Year Ahead After 3 Years Of Stagnant Growth

ercom Capit al Group, a global clean energy communications and consulting firm, today released its quarterly update on the Indian solar market. Indian solar installations in calendar year 2014 totaled 883 MW, down 12 percent compared to 1,0 0 4 MW installed in 2013. Mercom’s 2015 forecast is unchanged at approximately 1,800 MW with some upside. The Indian solar industry remains positive as solar programs are being announced with increased frequency and the installation goal continues to grow. The 100 GW solar installation goal set recently by the Modi government has thrilled the sector, but the industry is pragmatic and realizes that while 100 GW looks great on paper, the last five years have resulted in only 3,000 MW in solar installations, with last year’s installations at less than 1 GW. “Most of the industry is confused as they are constantly bombarded with new policies, goals, drafts and revisions,” commented Raj Prabhu, CEO and Co-Founder of Mercom Capital Group. “The last time the National Solar Mission (NSM) conducted a solar auction was in October 2013 - the industry just wants to see execution.” “The two most impactful steps the government can take to help the solar industry take off and bring substantial INVESTMENTS into the sector would be to: 1) fix the financial health of DISCOM’s [utilities] and thereby improve the credit rating of offtakers, and 2) classify ‘renewables’ as a priority lending sector in India, making more funds available for

Feb-Mar 2015

solar,” continued Prabhu. A large portion of 2015 installations are expected to come from the 700 MW Phase II Batch 1 projects, which are due to be commissioned in May of this year. Also, looking at the timeline for the last Batch, it takes approximately

2,000 MW of grid-connected solar PV power projects under NSM Phase II Batch 3 - “State Specific VGF Scheme.” O ther solar programs announced by MNRE include the plan to set up ‘Ultra Mega Solar Power Projects’ in

19 months from RfS (request for submission) approval to the commissioning date, which means that for 2016 to be a big year the next three months will be crucial for these policies to be finalized and RfS’ approved. Ministry of New and Renewable Energy (MNRE) released another revised draft for Batch 2 for 3,000 MW of PV projects recently, and issued draft guidelines to set up

25 Solar Parks, each with a capacity of 500 MW or larger, targeting 20,000 MW of installed capacity over a span of five years beginning in FY 2014-15. Under Batch 5 (note: there is no Batch 4) the plan is to set up grid-connected solar PV power projects by the Central Public Sector Undertakings (CPSUs) and Government of India organizations’ for self-use or third-party sale, with viability

gap funding (VGF) over a span of three years from FYs 201415 to 2016-17. More than 300 MW of grid-connected and offgrid solar PV power projects are proposed to be set up by Defense Establishments with VGF in five years, from 20142019. MNRE has also launched a

program to develop 100 MW of grid-connected solar PV power projects on canal banks and canal tops. “The Modi government has brought policy momentum to the solar industry. The sector is now looking for quick implementation, competent execution and actual installations,” further commented Prabhu.

www.EQMagLive.com

& EQBusiness Financial Campaign For Quality-Assured Solar Lighting In Rural India Launched

FC’s Lighting Asia/

Italy, Austria, and Australia.

India program that “Despite the huge population

aims to provide safe,

affordable, and high quality

living

withou t

ad equate

solar lights to people with

electricity access in India, the

limited or no access to electricity

solar lighting market today

has launched Suryodaya™ - a

remains nascent with penetration

consumer education campaign to

well below five percent,” said

increase the awareness of quality

Anjali Garg, Program Manager

assured solar lighting products

Lighting Asia/India program.

in rural India.Suryoday™

“We are working on a series of

campaign has been launched

interventions with manufacturers

in Bihar, Rajasthan, and Uttar

and distributors of solar lighting

Pradesh and will run in a phased

products to enable consumers to

manner through June 2015 and

have access to high quality solar

is expected to reach upto 8,000

lights.”All the products being

villages and create demand for

promoted under the campaign

quality solar lighting products.

have passed an independent

The program is partnering

three-month quality assurance

with manufacturing companies

testing process.

all electrical, electronic, and related technologies.Nearly 380 million people in India depend on kerosene for their primary source of lighting. Not only is the light from kerosene lamps inadequate, it is polluting. Providing this vast population with improved lighting can have

Lighting Pacific, Lighting Asia, and Lighting Global banners. In India, the program is working to build a market for high quality solar appliances through a multifaceted approach:

working

with manufacturers of solar lighting products to test their products, supporting distributors

(Barefoot Power, D.light Energy, ECCO Electronics, Greenlight

This quality assurance

Planet, Omnivoltaic, Orb Energy

framework was developed

and SUNLITE) and distribution

by IFC and the World Bank

companies (Frontier markets,

and has been adopted by the

Dharma Life, Mahindra EPC and

International Electrotechnical

TOTAL Oil India Pvt Ltd) in this

C o m m i s si o n

effort. IFC’s lighting program

world’s leading organization

in India is supported by the

that prepares and publishes

government of United States,

International Standards for

( IEC),

the

significant impacts on health, incomes, education and the environment. IFC is implementing similar programs in various geographies under the Lighting Africa,

to penetrate untapped markets, and engaging with consumers through the Suryodaya™ consumer awareness campaign to generate awareness and demand.

Sunny Outlook For Solar Generators: CARE Ratings

ARE Ratings expects

related risks much sharply into

energy. Solar radiation is around

December 31, 2014, solar-based

its ratings on grid

play.While arriving at the ratings

5,000 trillion kWh per annum

capacity contributes about 9%,

connec ted solar

for the solar players, key factors

and most parts of the country

which few years back was less

players to remain stable on back

that drive the rating decision are

enjoy 300 clear sunny days a

than 1%, clearly demonstrating

of conducive policy framework,

regulatory framework, operating

year. The power generation

the increased focus for this

satisfactory operating levels and

performance, counterparty risk

capacity based on solar has

widely available source of power.

reducing gap in tariff compared

and adequacy of cash flows

witnessed a significant jump in

Ministry of New and Renewable

with conventional sources.

in relation to the borrowings.

the last few years and crossed

Energy (MNRE) has unveiled an

Counterparty risk remains a

CARE has ratings outstanding on

the 3,067 mega-watt (MW)

ambitious plan for increasing the

key rating challenge. Going

27 solar players as on December

mark as on December 31, 2014,

country’s solar capacity, setting

forward, CARE Ratings believes,

31, 2014.

due to policy push by both central

a target of 10,000 MW by 2017

and state governments such as

and 100,000 MW by 2022.

by 2017-2018 solar tariffs will converge with grid tariffs

This paper delineates

National Solar Mission (NSM)

leading to proliferation of solar-

CARE’s experience on each of

and various state initiatives. Of

based capacity across various

these issues.India is an attractive

the total installed renewable

states. This shall bring off-taker-

geography for harnessing solar

capacity of 33,792 MW as on

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Source:Moneycontrols

Feb-Mar 2015

& EQBusiness Financial Mercom Capital Group Forecasts Strong Year Ahead with Global Solar Installations of Approximately 54.5 GW

he solar industry is forecasted to continue its growth in

rush before the ITC expiration, but the push for installations has

2015 with installations reaching approximately 54.5 GW

already begun.

according to the latest quarterly update from Mercom

Capital Group, llc, a global clean energy communications and consulting firm. “China and Japan have to overcome some implementation issues for 2015 to be another good year for global solar installations,” said Raj Prabhu, CEO and Co-Founder of Mercom Capital Group. “On the positive side, new funding mechanisms are helping reduce the cost of financing and are bringing in new streams of funding into the sector.”

U.S. trade disputes with China remain a thorn for the solar sector in 2015. The European solar market continues to shrink with Germany installing only 1.9 GW in 2014 (its lowest installation total in five years). Installation levels are forecasted to be similar in 2015 primarily due to the decline in incentives. The U.K. was the most active European market with 2.2 GW installed in 2014 and 2.9 GW forecasted in 2015. The U.K. solar While actual installation numbers for 2014 are trickling in,

market in 2014 was largely driven by Renewables Obligation

China recently reported installation figures of 10.60 GW which

Certificates (ROC) for projects larger than 5 MW. This will likely

implies that it missed its installation goal of 13 GW by more than 2

be the best year for solar in the U.K., and decline thereafter.

GW. This will have implications on total global installations. China also revised its 2013 actual installation figures down from 12.9

Indian solar installations in calendar year 2014 totaled 883

GW to 10.95 GW. NEA’s latest target is a very aggressive 17.8

MW, down slightly compared to 1,004 MW installed in 2013. India

GW for 2015. Japan is forecasted to have installed approximately

failed to reach the GW mark in 2014 but is expected to double in

9 GW in 2014 and is expected to be in a similar range for 2015.

size to about 1.8 GW in 2015.

Japan is running into some strong headwinds in 2015 with grid issues leading to solar power output curtailment. The Ministry of Economy, Trade and Commerce (METI) just announced the revised

Overall, we are predicting another solid year for the global solar industry.

FiT for FY 2015. The revised tariff is lowered by approximately 16 percent for projects >10kW. Mercom is forecasting Japanese installations to peak in 2015. The U.S. solar market is forecasted to grow at a rapid pace in 2015 and reach more than 8.5 GW as installations accelerate with the looming ITC expiration deadline at the end of next year. 2016 will undoubtedly be a big year for solar due to the expected installation

Feb-Mar 2015

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& EQBusiness Financial ACME WON FIRST SOLAR ROOFTOP PROJECT · Capacity of the project

ment, Mr. Manoj Kumar

The potential and benefits of

& Renewable Energy (MNRE)

the solar rooftop segment in

has included Punjab in the ambi-

Upadhyay, Founder & Chair-

India are huge and the market

tious “Green Corridor Mission”

· Tariff for the project

man, ACME said “We are ex-

is just getting started. It is in-

project. With this, Punjab will

has been fixed at Rs 7.57 per

tremely happy to bag this or-

deed encouraging to see that

now be in line to receive funds

KWhr

der, which is the first ever large

the state governments are now

for further strengthening of its

is 30 MW

scale solar rooftop project in the

taking many sincere efforts to

transmission and distribution in-

ACME, a leader in energy

country. This order reflects the

promote the solar projects in

frastructure to ensure efficient

management and innovative

hard work and dedication of our

their respective states”.

evacuation of solar power to the

solutions for alternate energy

team member and state’s vision

sector with presence in solar

to reduce the carbon footprint.

central grid. Recently Ministry of New

power generation, today an-

As per industry reports, the

nounced that they have bagged

realizable potential in India for

their first solar rooftop project

solar generated from residential

with a capacity of 30 MW in the

rooftops will be 35 GW by 2024;

state of Punjab.

correspondingly for industrial

The energy generated from

and commercial rooftops the

this installation will be fed to

realizable potential in the next

the local grid through a power

ten years is up to 41 GW. These

purchase agreement (PPA),

projections clearly indicate the

which got signed with the state

growing importance and op-

distribution company. The tariff

portunity that the solar rooftop

for the project has been fixed at

segment presents in the Indian

Rs 7.57 per kWhr

context

Speaking on this develop-

Egypt Solar Industry Association Releases Solar Report

gypt has captured the headlines and attention of the solar industry the last several weeks. With 2.3 GW of power to be generated by photovoltaic energy in the next couple of years, the world is taking notice; major international players are coming to Egypt, forming key relations with local enterprises to make this ambitious goal a reality.The Egyptian government recently concluded the international Economic Development Conference in Sharm el-Sheikh with hopes of attracting $60 billion dollars in

foreign direct INVESTMENT, including billions for renewable energy. As a result, there has been a wave of announcements from the solar industry declaring gigawatts of development and billions of dollars in investment, not only in PV power plants, but also in manufacturing facilities, research and development, and training. Eg y p t ’s Mi n i s t r y o f Electricity and Renewable Energy has already begun to establish favourable policies and a regulatory framework to help make solar energy

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a true alternate large-scale source of Egypt’s energy mix. Egypt SIA’s new MARKET repor t provides det ailed insights on the latest solar market developments as well as in-depth perspectives from some of the key stakeholders, including regulators, laws firms, developers and EPC contractors who are active in the emerging Egyptian solar energy market.How easy will it be for international solar developers set up special purpose vehicles in Egypt and secure land plots for their projects? Which banks are expected to provide financing?

Which PV system components are going to be locally sourced and which parts are likely to be exported in the first batch of power plants? These are some of the questions that are answered within the report. In addition, the report offers a unique outlook on solar developments beyond the feed-in-tariff scheme; tracking opportunities in various industries and governorates across Egypt. Finally, an extensive list of local solar energy firms is included with a description of their activities.

Feb-Mar 2015

I NT ERV I EW

PEDDIRAJU BHUPATHIRAJU Manging Director Akshaya Solar Power (India) Pvt Ltd, Hyderabad

EQ: Are you Excited about the New JNNSM

Budget 2015

Target of 100GW by 2022...Is it realistic? PB : Yes It is realistic with great challenge to the Domestic Manufacturers

Solar Parks…are we in the right Direction.

PB : Renewable Energy Sector is to be promoted on priority to meet atleast 25% of

PB : Announcements is in the right

Energy needs as a part of “Make in India”

direction and has to initiate for moving

in next 10 years.

towards implementing.

EQ: What is the near future technology

EQ: Does the Solar Industry foresee the

and we all together will do it.

EQ: What resources needs to be developed

roadmap…Do you see module prices

to achieve this target…Man Power,

falling by another 30% or so or

Critical Infrastructure (Land, Power

increase in module efficiency will thus

PB : In my opinion Grid Parity has

Evacuation, Green corridors, Finance

increase module size and thus BOS

already reached for Commercial and HT

etc…)

costs will go down ?

Consumers those who are in higher tariff and

Grid Parity in next 2-3 Years.

in next 2 years it reaches even the domestic PB : Govt to introduce Renewable

PB :In last 10years witnessed 60%

Energy as also one of the major subject

increase in Module Efficiency and if the

at all levels of Education, so that more

same rate of efficiency increase is continued,

EQ: Utility scale market is highly

employment can be created in the RE Sector.

definitely in the same module size, higher

competitive and getting concentrated in few hands…What’s your views

Govt to develop Solar Parks and

wattages are possible and BOS costs will go

allot to Power Producers with all Power

•

down and 30% further reduction in module

Evacuation Infrastructure.To avoid that as a

prices are possible in near future.

real estate business, land can be allotted on

EQ: The New Govt Decision of not imposing

further period subject to proper use of the

Anti Dumping Duty and attempt to keep

land for Solar Power generation.

everyone happy…Please share your

Financing to Renewable Energy

Opinion.

is to be in Priority Sector for lending from Banks with reasonably better Interest rate.

led BJP government…Expectations Met?

percentage.

EQ: What financing structures/models needs to be discovered to beat the traditional financing structures

PB : As there are not sufficient Cell manufacturers in India, it is a good move

EQ: What’s your view on the New Mr.Modi

PB : Govt has to initiate to avoid Monopoly and restrict to a certain

a 30 years lease with a provision to extend

•

consumers.

for renewable energy projects/ manufacturing.

for not imposing ADD on cells. At the same time , Govt has to

PB : Banks should be advised to come

initiate to encourage new investors in Cell

out with their schemes to finance for Grid

Manufacturing and support the existing cell

tied/Net Metering Solar Rooftop Projects

PB : Frankly speaking not yet seen any

manufacturers to meet the domestic market

to their customers with creditworthiness as

remarkable initiatives from Govt to develop

requirements with out burdening the Power

per their norms.

the Renewable Energy Sector to sustain

Project developers.

EQ: What is the near and long term

on its own rather than with Govt Policy/ subsidy driven.

EQ: What are your expectations from the 30

Feb-Mar 2015

EQ: New Government Announcements of

view on manufacturing in India…Does

Ultra Mega Solar Projects, Massive

the Global Trade Wars Help? India’s DCR

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Mandates in JNNSM…Will this be enough.

have to bring down the cost as the Scale of

clean energy?

production is going up. PB : India’s DCR Mandates in JNNSM is enough.

EQ: Will India ever see Polysilicon

PB: Decline in Oil Price may not be

EQ: The NCEF money now being

there for a longtime and should not consider

available for Renewable Projects….What’s

its impact on Clean Energy.Increase in the

your Opinion.

cost of Traditional Power will influence

Manufacturing …What are the challenges in Poly & Wafers Manufacturing in India and how can we overcome them.

more and more consumers to go for Solar PB :Govt has to increase the NCEFund

,particularly those who are paying higher

by enforcing RPF mechanism.

tariff.

EQ: Any other issue/topic/question you

PB : As huge investments are required

EQ: RoofTop Solar Market has been small

for Polysilicon Manufacturing, viability in

in last 6 years … what do you think of

running them ,competing foreign suppliers

the rooftop market installations in next

is a big challenge.

2-3 years.

would like to raise. PB: All State Govts and Central Govt should come forward to remove all

EQ: What are the future technology landscape for Inverters and BOS. PB : After Solar Panel, next important

PB: In next 3 years huge additions

Commercial Taxes/Service Taxes and Income

will be there in Grid tied systems, as the

Taxes on Solar Products for atleast next 5

customers are getting awareness about the

years or till we reach our ambitious plan

AD benefit and energy savings in longterm.

of reaching 100GW of Solar Installations.

and costly element in a solar system is Invertor and a continuous improvement

EQ: What do you think about decline of

in logical functioning of Invertor should

45% on Oil prices and increasing the

be continued and at the same time they

cost of tradition power & its impact on

Now Read on

Tablet & Smartphone www.EQMaglive.com www.EQMagLive.com

Feb-Mar 2015

I NT ERV I EW

Gaurav Sood Managing Director,Solairedirect India

EQ: Are you Excited about the New JNNSM Target of 100GW by 2022...Is it realistic? GS: The 100GW JNNSM target is very exciting for the entire solar value chain. This is definitely an ambitious target. However, it is achievable with the strong political intent and with enabling policy framework to address the key constraints. These could be • Effective implementation of RPO mechanism across all the states with penalty structure for non-compliance. • Introduction of Large-scale solar park based projects and making available all land and infrastructure related facilities since the land acquisition and grid infrastructure are two main hurdles in development of solar power projects in India • Improving financial health of discoms. In India, the financial health of most of the distribution companies is not good, so it is required to analyse whether such purchase of electricity is viable for state distribution companies. This is one of the most important issue • Increasing capacity of local manufacturing across the value chain • 100GW would require $100billion of debt and equity financing which means substantial long-term international financing would be required and hence we would need to provide requisite bankability of PPA’s, off-takers and overall favorable investment climate to attract this funding Hence, this target could be realistic, 32

Feb-Mar 2015

if the Government can address above mentioned issues.

EQ: What resources need to be developed to achieve this target…Man Power, Critical Infrastructure (Land, Power Evacuation, Green corridors, Finance etc…) GS : Being one of the project developers, we face many issues and in order to address those issues it is required to create adequate resources in terms of finance, land, grid infrastructure. These issues are enlisted below. Finance: Interest rates for financing renewable projects in India are on the higher side. The sector has been asking for priority sector status which would result in financing available at lower rate, making solar energy even more competitive. Land: Buying/leasing private/government land takes lot of time. The project execution time available under most policies is not more than 13 months whereas the entire onus of finding the right land to its due diligence and acquisition lies with the developer. Government should make land available on lease/ sale to facilitate quick execution. Grid evacuation infrastructure: This is again a big problem. Getting land close to a sub-station and getting clearance for evacuation both things take time. Besides this, the construction of the transmission line from the plant to the sub-station is put entirely on the developer who has to overcome all social and local challenges. The building of the transmission line needs to be taken up by

the respective state utility and the developer could pay the charges. Also, the grid evacuation needs to be available throughout the life of the project. As all renewable energy projects are take or pay contracts and hence when a solar power plant is asked to lower output, it is a loss.

EQ: What’s your view on the New Mr.Modi led BJP government…Expectations Met? GS : Being into power business, we were very optimistic about strategies and policies to be framed by Mr Narendra Modiled Government. First and foremost, the Government did not impose anti-dumping duty on imported solar modules. This was very important decision keeping in mind the current fragile state of Indian manufacturing. This could have been detrimental to the sector and would have made the bankable high quality imported module supply more expensive which would have resulted in increase of solar power tariffs. Thus, this was a really good and favorable decision. The Government is now looking at solar power generation with the target of 1,00,000 MW by 2022 up from the 20,000 MW set under the National Solar Mission. As explained above, this is an ambitious target. However, it can be achieved if proper enabling policy framework is introduced. The Cabinet Committee on Economic Affairs approved setting up of 25 solar parks of 500 MW capacity each, as also Ultra Mega Solar Power Projects, which will require central government financial support

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of Rs 4,050 crore. The solar parks will be set up across the country during five years, from fiscal 2014-15 to 2018-19. Under this new approach, Land would be provided by State Governments or Land identified and arranged by Solar Power Developers in the respective States. MNRE is facilitating development of 25 Solar Parks to accelerate the Solar Capacity Addition in various States. The bidder will approach the Solar Park Implementation Agency (SPIA) for allotment of land and connectivity. This approach would definitely reduce the burden of identifying the land parcel and getting grid connectivity. Recently, there was news that the Ministry of New and Renewable Energy (MNRE) wants to increase solar Renewable Purchase Obligation (RPO) targets for obligated entities (including distribution companies) could be raised to 10.5% from the current 3%. This is good news since it would help to achieve the newly set target of 100 GW. However, we need to also check the financial health of distribution companies since they may not be capable to purchase bulk quantity of solar power. The Indian government is planning to amend the Electricity Act 2003 in a fundamental power sector reform. The goal is to break the monopoly of power distribution companies on the end consumer and allow for more effective competition in the lastmile delivery and sale of power Ministry of New and Renewable Energy (MNRE), suggest that the government is thinking about a “Renewable Energy Act 2015” to create a comprehensive framework for investment in the sector. A “Renewable Energy Act 2015” could focus on reducing the risks and transaction costs in the Indian renewables market, creating a framework that makes India an attractive option for professional and for global investors.

EQ: What are your expectations from the Budget 2015 GS : To give the market further impetus, in the past few days, the government has announced fund allocation for solar parks infrastructure, viability gap funding for public sector led projects and new funds for canal-top solar. However, growing the market from 1 GW a year to 10 GW a year

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requires a deeper, sustained, market-level effort making the economic fundamentals irresistible. We also expect that the cost of debt financing shall be reduced since the interest rates are too high. We suggest to decouple the tax benefits from the solar investment and instead make it a tradable benefit.

EQ: What is the near future technology roadmap…Do you see module prices falling by another 30% or so or increase in module efficiency will thus increase module size and thus BOS costs will go down ? GS : We see module prices to decrease at a much lower rate going forward and that too on account of incremental efficiency improvements. Also, with innovations on BOS side as well as modules, we can get overall cost saving at system level.

EQ: The New Govt Decision of not imposing Anti Dumping Duty and attempt to keep everyone happy…Please share your Opinion GS : Yes. It was definitely a good decision since by imposing these duties on modules, it would have made the bankable high quality imported module supply more expensive which would have resulted in increase in overall project cost at least by 10%. This would have hampered the entire solar market in India as current manufacturing capacities in India cannot support more than 500 to 700MW per year.

EQ: New Government Announcements of Ultra Mega Solar Projects, Massive Solar Parks…are we in the right Direction GS :Since the land and grid infrastructure are the main issues in India. If the Govt is making available these facilities under the Scheme then developers would be comfortable to execute the projects and we can go for ultra-mega power projects.

EQ: Does the Solar Industry foresee the Grid Parity in next 2-3 Years GS : The solar power is reaching the grid parity level competing with conventional

power. Today, prevailing tariffs are around Rs 6.50 to 7 per kWh in most of the states. However, Grid parity has different meaning for different category of consumers. Solar power is still below grid parity when viewed in the context of industrial consumers. Commercial tariffs in many parts of India have already reached parity. For industrial consumers, the solar power is now being offered at INR 6-7/kWh for 25 years whereas the industrial consumers are already getting the electricity at INR 4 -5/kWh. However, this tariff will increase year on year significantly with increase in coal prices making it costlier than before. So, we are almost there w.r.t. grid parity with new sources of energy and all the more with imported sources like coal, gas etc.

EQ: Utility scale market is highly competitive and getting concentrated in few hands…What’s your views GS : Utility scale market is mainly driven by state and central government tenders. Considering the current price trends between Rs 6 to 7 per kWh, it is competing with commercial and industrial tariffs. However, it is mainly concentrated in few states wherein there is high potential. However, this can be decentralized in other states with attractive policy and regulatory framework. Also, with the consumer awareness, the distributed generation segment would also grow. At present, the segment has already achieved the industrial and commercial grid parity level in many states. If it is implemented effectively promoting its feasibility, then the concentration of utility scale market would also be reduced.

EQ: What financing structures/models needs to be discovered to beat the traditional financing structures for renewable energy projects GS : It is important to raise long-term equity financing options in the Indian market. Today, pension funds, insurance companies etc. are not able to invest in renewable projects directly, whereas renewable energy projects are the right investment option for them as these projects yield stable returns with low risk over long period of time. Also, the Reserve Bank of India (RBI) needs to

Feb-Mar 2015

make provisions in its policies for attracting foreign capital one such move being allowing assured returns on equity investments by foreign investors.

EQ: What is the near and long term view on manufacturing in India…Does the Global Trade Wars Help? India’s DCR Mandates in JNNSM…Will this be enough GS : Currently the state of Indian manufacturing in solar PV value chain is not very bright. There is lot of module manufacturing capacity and some cell manufacturing capacity which needs to be upgraded and expanded. Upstream capacity is next to nil. With India’s ambitions, clearly there needs to be investment in the upstream and then strengthening and expansion of downstream capacity as well. India’ DCR mandates mentioned in JNNSM are enough to show government’s commitment for the capacities for local content; this should attract investments in globally competitive manufacturing capacities which should even be able to compete for non-DCR capacities.

EQ: Will India ever see Polysilicon Manufacturing …What are the challenges in Poly & Wafers Manufacturing in India and how can we overcome them GS : Large investment is one of the barriers and secondly a very good power infrastructure. Market has been made available, and now we should see some big groups taking advantage and entering this part of value chain.

EQ: What are the future technology landscape for Inverters and BOS GS : Inverters very clearly are moving towards larger sizes. Modules as well are moving towards 1500V as well as innovations like bi-glass modules which have better properties with similar cost structures. With improvements on both these components front, the BOS would become more competitive.

EQ: The NCEF money now being available for Renewable Projects….What’s your Opinion GS : The fund is operated by Ministry of Finance and an inter-ministerial group was formed to approve the projects/schemes eligible for the fund. The government has collected Rs 40,000 crore as cess on coal through the National Clean Energy Fund, but even as intended beneficiaries continue to wait for disbursement, it has allocated just over 1 per cent of this amount to the MNRE, the nodal department for developing clean energy in the country. Worse, of the Rs 500 crore of the NCEF amount disbursed to it, the ministry has spent just Rs 1.6 crore on clean energy projects over the past three years. The ministry further disclosed that it had spent just Rs 57 lakh since 2011 on grid-connected projects that are supposed to be priority for the government’s clean energy initiatives. As per MNRE Notification dated 15 Oct 2013, the funds for provision of the VGF support, estimated at Rs 1875 cr and will get firmed up after opening of bids. Thus, it would be interesting to see how Ministry allocates the funds to the sector and how much actual disbursement happens.

EQ: India has over 3GW Installed Solar Assets…Do we see a retrofit market evolving?

EQ: RoofTop Solar Market has been small in last 6 years … what do you think of the rooftop market installations in next 2-3 years.

GS : Yes definitely over a period of time when there are more technological advances which would result in lower LCOE’s. However, it has many technical, financial and policy related constraints and challenges. These include securing necessary approvals and licenses from authorities as well as ensuring a favourable policy and maintaining regulatory transparency and support. The Government should also encourage repowering or retrofitting through various forms of incentives for capacity addition.

GS : Since the beginning of India’s push for solar energy and the launch of the National Solar Mission in 2009, two segments of the solar market have been in focus for both corporations and national and state governments – utility scale and distributed segments. The mission targets to set up 40 GW distribution generation by 2020. As of end of 2014, 90% of approximately 3,000 MW of solar PV installations are a t tributed to the utility scale solar segment.

Feb-Mar 2015

The distributed segment, on the other hand, has contributed less than 10%, totaling a mere 285 MW. The reason behind the lower contribution is mainly lack of awareness among different consumers. The roof-top market is mainly driven by demand side. It is basically dependent on consumer awareness. The consumer needs to be educated in order to understand utilization of solar appliances. As per recent study, the distributed generation has achieved the commercial and industrial grid parity in many states. In case of residential sector, the present tariffs are still lower than industrial and commercial tariffs, hence, the grid parity is yet to be achieved. Considering the current growth rate, the rooftop sector may add around 2 GW by 2020. In case of industry and commercial establishments, the main driving factor is its economic viability and proper metering procedures. If these issues are addressed, then sector would rapidly grow reducing dependence on grid connected projects.

EQ: What do you think about decline of 45% on Oil prices and increasing the cost of tradition power & its impact on clean energy? GS: Actually, oil sector and clean energy do not directly compete or deal with each other. Thus, fluctuations in oil prices will have very little impact on renewable energy sources. Nevertheless, the prices of renewable energy sources are going to be very compelling in the future compared to oil and conventional power sector. Over the long run there is a price difference between energy derived from clean energy sources and that derived from coal and oil. Over the long run the cost of energy from the former invariably declines as technology innovation proceeds. Thus, if the cost of traditional power is increasing, the clean energy sector may see the rapid growth with competitive pricing.

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I NT ERV I EW

Shailendra Bebortha Chief Operating Officer,Sunborne Energy

EQ: Are you Excited about the New JNNSM

In terms of the global demand supply

Target of 100GW by 2022...Is it

situation the equipment prices are stabilized

realistic?

right now. A steep fall in price is not

EQ: Utility scale market is highly

envisaged. Increase in Module Efficiency

competitive and getting concentrated

shall be gradual unless some disruptive

in few hands…What’s your views

The industry is excited about this target. A lot would depend on the detailed

technology arrives.

road map and roll out plan. It’s optimistic and has helped in generating interest among stake holders considerably.

EQ: What resources needs to be developed

rather than a goal.

I agree with your views. But as the

EQ: The New Govt Decision of not imposing

expected market size is very large, there

Anti Dumping Duty and attempt to keep

is scope for more players to participate. As

everyone happy…Please share your

most of the solar value chain is commoditized,

Opinion

it would be definitely competitive. At the

to achieve this target…Man Power,

same time scope for mistakes would be very

Critical Infrastructure (Land, Power

We understand that the Domestic

Evacuation, Green corridors, Finance

manufacturers have decided to withdraw

limited.

etc…)

the application. Trade disputes should be

EQ: What financing structures/models needs

avoided in an evolving industry. Introduction

to be discovered to beat the traditional

Solar Industry is still in a nascent stage

of fair business practices would be the best

financing structures for renewable

in India. Hence all factors mentioned by you

method to scale up. Hope the proceedings

energy projects/manufacturing.

need to be developed. Critical among them

with respect to Anti Dumping Duty is a step

are land, evacuation facility and financing.

forward in that direction.

Human resource and skill development are also important factors to be developed for sustained growth of the sectors.

EQ: What’s your view on the New Mr.Modi

structures/ models prevalent internationally.

EQ: New Government Announcements of

The problem is tenor and pricing. For

Ultra Mega Solar Projects, Massive

achieving the ambitious targets government

Solar Parks…are we in the right

has to target these two aspect.

Direction

led BJP government…Expectations Met?

In India we have all the financing

EQ: What is the near and long term view The opinions are divided. Large

on manufacturing in India…Does the

solar park would invite large development

Global Trade Wars Help? India’s DCR

It’s too early to pass a judgment on

risks. Till date India has mainly focused in

Mandates in JNNSM…Will this be

this. The government appears to have good

fragmented approach to scaling up. Unless

enough

intention and more time shall be needed to

the details of these large projects are

comment the promise vs. actual issue.

available, it would be difficult to comment.

EQ: What is the near future technology

EQ: Does the Solar Industry foresee the

Solar Industry has a history of Trade wars. But Trade wars/ regulations cannot

roadmap…Do you see module prices

Grid Parity in next 2-3 Years.

falling by another 30% or so or

prove a business case right. The key to success in Solar manufacturing is managing the energy footprint in the conversion

increase in module efficiency will thus

It would depend on what are we

process. Scalability shall also be an issue.

increase module size and thus BOS

comparing with. Solar has already achieved

DCR mandates can help to some extent but

costs will go down ?

parity with sources such as diesel and

product development would be the key.

imported coal. I see grid parity as a journey

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Feb-Mar 2015

EQ: Will India ever see Polysilicon

EQ: The NCEF money now being available

bring in a paradigm shift. But the recent

Manufacturing …What are the

for Renewable Projects….What’s your

steps taken by various states is encouraging.

challenges in Poly & Wafers

Opinion

Manufacturing in India and how can we overcome them The main challenge for Polysiliion manufacturing shall be cost of energy. The

EQ: What do you think about decline of NCEF money is available for a variety

45% on Oil prices and increasing the

of reasons including RE projects. It would

cost of tradition power & its impact on

require political intervention to channelize

clean energy?

the same to RE projects.

quality and cost of Polysilicon would depend

Increase in oil price is a negative for

on reliable supply of energy at low price for

EQ: RoofTop Solar Market has been small

RE in a short term. In medium to longer term

conversion. To start with some amount of

in last 6 years … what do you think of

the increase in oil price would drive down

financial support from government shall be

the rooftop market installations in next

the capacity creation in Oil and gas sector

required.

2-3 years.

thus increasing the scope for RE. Further, a low oil price over a sustained period would

EQ: India has over 3GW Installed Solar

Rooftop solar market has huge

lead to introduction of energy in-efficient

Assets…Do we see a retrofit market

potential in a country like India. Regulatory

and environment unfriendly technologies.

evolving?

framework is the main bottleneck. Policies

This would help the case of promotion of

like net metering should be encouraged.

clean technologies including Renewables.

Not yet since we have limited historical data to justify retrofit at this stage.

Given the nature of Indian power sector regulation 2-3 years shall not be enough to

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Feb-Mar 2015

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REN EWA BL E EN ERGY

Renewable Energy Status Of Indian Power Sector: Upcoming Projects & Future Scopes Vellore Institute of Technology, VIT University, India

Krishna Prabhakar Lall, M.Tech (Power Electronics & Drives) Dr.Sarat Kumar Sahoo, Associate Professor, School of Electrical Engineering

This article gives an overview of some recently announced renewable energy projects in India & thereby elaborating renewable energy’s future scopes. Renewable Energy Sources such as wind, solar includes its integration with combined cycle, bio fuel cogeneration, and other such sources as approved by the MNRE. Solar PV power means the Solar Photo Voltaic power project that uses sunlight for direct conversion into electricity through Photovoltaic technology. n India will have the world’s largest 750MW solar power plant in Rewa district of Madhya Pradesh.Acquisition of 1,500 hectares of land for Rs 4000 crore project is close to completion. The state government is setting up the plant in a joint venture with Solar Energy Corporation of India. The expected cost of power production is pegged at Rs 5 /unit which would be lower than production costs in any solar project in the country, including the one at Neemuch in MP and Mehsana and Patan in Gujarat. n Swele c t En er g y Sy s t em s has completed design, installation and commissioning of its 15 MW SPV Solar Park on April 11, 2014 at Karur District, Tamil Nadu. n NTPC Ltd’s 10 MW Solar PV Power Station at Talcher is declared on commercial operation with effect from midnight of March 28, 2014. The total capacity of non-conventional energy projects

Feb-Mar 2015

of NTPC Ltd. is now 30 MW. n Welspun Energy Ltd inaugurated its 151 megawatt (MW) solar project in Neemuch district of MP. n TATA Power Solar has completed more than 160 MW of ground-mount utility scale and 40 MW of rooftop and distributed generation projects. It also offers a diverse line of solar products for both urban and rural markets - these include water heaters, home lighting, street lighting and water pumps. It will supply solar modules for a 10 MW project to be built by Palimarwar Solar Project Private Limited in Rajasthan. The 45,000 modules needed for the project will be manufactured at Tata Power Solar’s manufacturing facility in Bangalore, also commissioned a 2 MW rooftop solar plant for Murugan Textiles. The solar plant is the largest rooftop solar plant in South India.

Solar Power In Gujarat n Gujarat has been a leader in solar power generation and contributes 2/3rd of the 900 MW of photovoltaic’s in the country commissioned Asia’s biggest solar park at Charanka village. The park is already generating 2 MW solar power out of its total planned capacity of 500 MW. n Under the roof-top solar power generation scheme the State plans to generate 5 MW of solar power by putting solar panels on about 50 state government buildings and on 500 private buildings. n The State plans to generate

solar power by putting solar panels on the Narmada canal branches. As a part of this scheme, the State has already commissioned a 1MW solar plant on a branch of the Canal. This also helps by stopping 90,000 litre water/year of the Narmada river from evaporating.

Solar power in Rajasthan n Rajasthan is one of the states of India in the field of solar energy. The total photovoltaic capacity has passed 500 MW, reaching 510.25 MW at the end of the 201213 FY. The district of Jodhpur leads with 42 projects totalling 293 MW, followed by Jaisalmer and Bikaner. n AREVA solar is currently engaged in constructing a 250 MW concentrated solar power (CSP) installation which will become the largest CSP installation in Asia. n A 4,000 MW Ultra Mega Green Solar Power Project (UMPP) is being built near Sambhar Lake in Rajasthan. Upon Completion, it would be world’s largest Solar Power Plant. It is expected to be built in 4 phases, with the first phase likely to be commissioned by the end of 2016 with 1,000 MW capacity. The total cost of each phase of the project is estimated to be 70 billion (US$1.1 billion).

Solar power in Maharashtra n A 10 MW solar power plant in Osmanabad commissioned in 2013, Maharashtra by Rely On Solar, generates approximately 18 Lac units per MW.

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n Mahagenco commissioned in March 2013 a 125 MW Solar ProjectMaharashtra & Tata Power - Mulshi, Commissioned 3MW Solar PV in April 2011.

India’s Photovoltaic (PV) Power Plants

India has 150 GW of known renewable

in renewable energy growth in the next

Solar power in Madhya Pradesh

energy potential, of which only about 14%

decade. Therefore, it becomes critical to

has been developed. Renewable energy is

assess the achievable renewable energy

n The Welspun Solar MP project, the largest solar power plant in India set up at a cost of Rs. 1,100 crore on 305 hectares of land, will supply power at Rs. 8.05 a kWh.

considered to be an important part of the

potential during the 12th Plan period and

solution to India’s energy shortage. The

to address the various challenges in the

country’s renewable energy potential is likely

development of renewable energy.

industries. In order to achieve these goals, India needs an order-of-magnitude increase

to be even greater than 150 GW. Developing renewable energy can help India increase its

n Vivaan Solar has also completed 15 MW Solar Power Plant in Kadodiya Village. The company has also stepped forward in providing rooftop solar solutions for homes and business users.

aspirations for leadership in high-technology

energy security, reduce the adverse impacts on the local environment, lower its carbon intensity, contribute to a more balanced regional development, and realize its

The table above indicates that the 12th Plan period targets for grid-connected renewable capacity addition are close to 32 GW. However, there are several challenges in terms of lower capacity utilization factors, high technological costs, inadequate funds,

Name of Plant DC Peak Power Status (MW)

*Charanka Solar Park - Gujarat

221

Commissioned April 2012

*Welspun Solar Plant MP project 151 MW Neemuch

151

Commissioned February 2014

* Tata Power Solar Systems Ltd (TPS) - 50 MW NTPC - Rajgarh, MP

Commissioned March, 2014

*DhirubhaiAmbani Solar Park, Pokhran, Rajasthan

Commissioned in April 2012

*Mithapur Solar Power Plant (Tata Power) Gujarat

Commissioned25 January 2012

* NTPC Limited - Odisha 10 Commissioned 2014 *Green Infra Solar Energy Limited - Rajkot, Gujarat

Commissioned November 2011

*Mahindra & Mahindra Solar Plant, Jodhpur, Rajasthan

Completed in January 2012

*Sivaganga Photovoltaic Plant, Tamil Nadu

Completed December 2010

*IIT Bombay - GwalPahari,

Commissioned 26 September 2011

*Kolar Photovoltaic Plant, Karnataka

Completed May 2010

*B&G Solar Pvt Ltd - Mayiladuthurai, Tamil Nadu 1 India’s First plant Commissioned under JNNSM scheme 10 June 2011 *B&G Solar Pvt Ltd - Mayiladuthurai, Tamil Nadu 1 India’sFirstplantCommissioned under JNNSM scheme 10 June 2011

Abbreviation:-RES=Renewable Energy Sources, RES includes Solar and Wind Energy etc. Installed capacity of RES (MNRE) as on : 31.03.2014

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Feb-Mar 2015

Table 1:Break up of RES all India is given below (in MW) lack of transmission facilities, inter-state transmission etc., which needs to be addressed to meet the ambitious targets. The Working Group has also proposed a budget of Rs. 43,000 crores to support the development for both grid-connected and off-grid renewable projects. Wind power is the fastest growing power generation technology in India and accounts for around 70% of the total grid-interactive renewable capacity in the country. Wind power development is focused primarily in five wind resource rich states with wind energy contributing to around 41.7% of the total capacity in Tamil Nadu (6,084 MW), followed by Maharashtra (2,345 MW), Gujarat (2,269 MW), Karnataka (1,727 MW), and Rajasthan (1,620 MW). Wind

continues to be the biggest renewable energy sector in India, in terms of both current installed capacity (15 GW) and total known potential (49 GW), as per MNRE. In order to accelerate the large-scale deployment of renewable energy, the National Action Plan on Climate Change (NAPCC) envisages a dynamic renewable purchase obligation target of 10% at the national level for 2015 with an annual increase in the trajectory over long term so as to reach around 15% by 2020 at the national level. Further, the Ministry of New and Renewable Energy (MNRE) projected that the renewable energy capacities at the end of the 12th Plan, i.e., FY 2017, would be around 41,400 MW.

The reason behind the sluggish growth of solar energy is the high cost of generation, which has gone down over the past few years. There is a huge potential for solar energy applications in grid-interactive solar power generation plants, solar thermal industrial applications, roof top based applications and domestic water heating. The Government of India has launched the National Solar Mission, which shall be implemented in three phases—Phase I (2009–13), Phase II (2013–17), and Phase III (2017–22)—to achieve the target of deploying 20 GW of solar power by 2022.

Source:Working Group Report on MNRE for the 12th Plan Table 2: 12th Plan capacity addition through grid-connected renewable energy (MW)

Krishna Prabhakar Lall is currently pursuing his M.Tech in Power Electronics & Drives in VIT University, Vellore, India. His areas of Interests are Power Electronics Applications in Renewable Energy/Power Systems; High Power Converter fed drives, Variable Frequency Industrial Drives with Multi-Level Inverters & Control of Grid-Connected Solar PV Systems.

Dr.Sarat Kumar Sahoo working as an Associate Professor in the School of Electrical Engineering, VIT University, Vellore, India.His research interests are design, analysis and control of electromechanical energy converters, Modern power electronics converters, renewable energy system and FPGA based system design.

Feb-Mar 2015

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SO L A R ENERGY

Auma India Pvt Ltd And Enerparc Energy Pvt Ltd Announces Commissioning Of Captive Solar Project

UMA India Private Limited, a

experience, we would like to extend this

grid as well as DG set in the event of no

subsidiary of AUMA Germany -

project in other areas of our plant says

demand / less demand from manufacturing

global leader in manufacturing

Mr. Yashwant M. Jannu, Vice President – R

plant as compared to energy generated from

of Electric actuators and Valve gear boxes

& D, IED from AUMA India Private Limited.

solar system, but also can throttle power

announced today commissioning of 151KWp

through SMAs Power Reducer Box to have

roof mounted solar power system at their

The installed solar system would

efficient synchronization with DG set and

state of art manufacturing plant located at

typically generate 225000 kWh of energy

keep running DG set in base load condition

Peenya Industrial estate on the outskirts of

per annum,enough to power 20% of AUMA’s

for effective functioning.

Bengaluru. The system was designed and

daily energy needs ; which would be utilized

constructed in record time of 38 Days by

to cater to captive energy requirement of

“We see an early sign of growth for solar

leading Global solar turnkey EPC contractor

plant and save approximately 180 Tons of

market in the category of Self generation for

Enerparc Energy Private Limited.

Co2 emission to environment. Solar system

captive consumption, which is an interesting

has been constructed using modules from

concept picking up in many parts of the

In view of applying progressive

Canadian solar, inverters from SMA and is in

country due to variety of drivers”mentions

technologies contributing to the sustainable

synchronization with existing 380KA Diesel

Mr. Santosh zKhatelsal, Managing Director

use, conservation of natural resources while

Generating (DG) set & BESCOM/Grid supply

of Enerparc Energy Private Limited.

achieving savings in energy we decided to

using Programmable Logic Controller. This

go ahead with this project & based on the

logic controller not only helps in isolating

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Feb-Mar 2015

SO L A R ENERGY

Enabling Potential Solar Investments By

ROLTA POWER

power. One way to achieve the target set by the government of - 100GW by 2022 can be achieved through rooftop solar schemes. The lack of past government incentives have been one reason for slow growth in rooftop solar panel projects, but new legislations and schemes will have a huge effect on the future growth

w The rise in manufacturing of solar panels for both domestic and international use and selling overseas has resulted in a massive increase of production within India. Indian solar panel manufacturers

have drastically increased exports to ap-

he growth of the Indian solar

Government involvement has helped

proximately $270 million (approximately

sector has been steady and has

accelerate the growth of the industry both

Rs 1,620 crore) in 2013-14 financial year,

seen a holistic, mixed develop-

commercial as well as corporate.

which is a 152% growth from 2012-13. Thus, manufacturers are profiting well

ments. Overall, there has been a progress in the sector and defiantly has a bright future. The solar market in India has started picking pace due to supportive government policies and ability of solar energy to be used for various applications other than generating electricity. Technology for solar energy has been playing a central role for India to be more efficient and competitive. India is looking forward to its advancement in the Solar sector as the biggest green initiative. Indian Prime Minister Shri. Narendra Modi has ramped up his

Incentives and subsidies for busi-

nesses developing solar power on a large scale to give the sector a major boost. The Indian government announced a target of 100GW by 2022 with the current installed power being approximately 2.7GW. The

although this growth is not as fast as the previous years.

ment to encourage manufacturing as well

there has been a decline in the demand

as installation from both commercial and

for some solar installations and that has

corporate customers

brought financing problems to some solar companies. Nevertheless the initiatives

Rooftop schemes are being devel-

The year-wise details are given below.

encourage the consumerâ&#x20AC;&#x2122;s push for solar

Feb-Mar 2015

ket. This year has seen 523 MW installed,

Due to the overall global recession

oped and introduced across the country to

inantly been shipped to the European mar-

ous efforts and funding from the govern-

year-wise roadmap to achieve this goal.

42Â

and overseas. These exports were predom-

set target can be achieved with continu-

Solar investment target to $100 billion by 2022 and has gone ahead and released the

from the increase in demand both domestic

rendered by the government towards the solar sector has helped attracted a lot of positive response.

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There is a tremendous amount of potential growth in both utility-scale and residential solar in India. The growth in solar sector is going to bring energy storage into focus, and this will be an important area of growth in the years to come.

Dr. Aditya Singh, MD & Promoter, Rolta Power, adds, “I have faith on the verdict given by our Hon. Prime Minister, Shri, Narendra Modi, on the solar industry, hence I am bullish about this industry” The government believes that, to en-

and overcome the frequent outages that

courage the development of Solar power

plague Asia’s third largest economy. Modi

Keeping in mind the tremendous poten-

across the states, the State Electric-

now wants companies from China, Japan,

tial the sector has, we at Rolta Power Pvt.

ity Regulatory Commission (SERCs) must

Germany and the United States to lead in-

Ltd. ventured into the solar power sector

specify Solar RPO targets in their States

vestments of $100 billion over seven years

with an installed capacity of 60 MW pro-

and to notify RPO regulation to comply with

to boost India’s solar energy capacity by 33

duction line of PV modules. In addition, we

the same to ensure its compliance. Public

times to 100,000 megawatts (MW).

are planning to expand, its Module capac-

funding catalyzes the market growth in

ity to 1 GW and Cell capacity to 1 GW by

the Solar sector. Reduction of high inter-

This will raise solar’s share of India’s

2022.

est rate and facilitating long repayment

total energy mix to more than 10 per cent.

tenure will motivate industries in investing

In Germany, a leader in renewable energy,

in Renewable energy. Industries are look-

solar accounted for about 6 percent of to-

ing forward for options like soft funding,

tal power generated in 2014. Besides the

subsidy/moratorium on interest, support

initiated policy support, the government

from World Bank and easy availability of

should highlight the importance of a self-

working capital. Revenue from Renew-

sustaining market place. The following are

able Energy Certificates (REC) should be

the stepping stones to make the shift to-

considered to make Solar projects viable.

wards solar feasible in India.

The company aims to manufacture A+ grade of solar photovoltaic panels and to work on a variety of ranges of solar power solutions like, solar EPC projects, rooftop solar projects (KW), solar water pumps, solar telecom tower and may more as per the requirement.

Generation based incentive will encourage developer to produce higher quantum

w Cost reduction in solar should be the

The company offers comprehensive

of renewable energy, thereby reducing the

prime focus & to be supported by acces-

services for implementing enterprise-level

national dependency on non- renewable

sible information on the industry

applications, which is not limited to EPC

energy sources. w

formula only. It aims to go beyond EPC

Build strong financing environment

services, such as manufacturing, complete

India gets twice as much sunshine as

backed by robust researches in solar ap-

EPC (including basic design), owner oper-

many European countries that use solar

plications and ample entrepreneurship op-

ator solutions, operations & maintenance,

power. But the clean energy source con-

portunities

backend paper work to claim subsidies, and

tributes less than 1 per cent to India’s en-

getting government grants etc. on behalf

ergy mix, while its dependence on erratic

of the clients.

coal supplies causes chronic power cuts

uted markets in solar There should be no

that idle industry and hurt growth. Indian

domestic manufacturing protection and

Prime Minister Narendra Modi bets on

no duties and tariffs on solar equipment

renewables to meet rising power demand

or parts thereof. The Indian power con-

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India needs to see more of distrib-

Feb-Mar 2015

sumer and the Indian tax payer will benefit

such as land availability, grid access and

from the lowest cost. The market will be

local grid imbalances.

in the global clean energy race. The domestic PV manufacturing indus-

a very scalable, parity driven market, in which solar competes with other sources

Once the market is operational, new

of power (grid, diesel) on price and avail-

capacity could be added at a much faster

ability. Instead, the government should fo-

rate, because it does not require alloca-

Financing cost, which has been one of

cus on reducing the lending cost – either

tion processes and policies. The new net-

the major challenges for setting up solar

through direct loan subsidies or through

metering policies are a step in the right

projects, is also expected to be gradually

reducing the risk (see next point). Lower-

direction. However, to take off, consumer

reduced as a result of the easing of infla-

ing the cost of debt is the strongest lever

finance solutions (such as equal monthly

tion. Overall, 2015 promises to be a good

for reducing the cost of solar. The more

installments), certifications for suppliers

year for the Indian solar sector and the

transparent and easily accessible informa-

to improve product quality and a revoking

start of a golden era for solar if all the gov-

tion is, on e.g. policies, land acquisition,

of existing malfunctioning subsidy schemes

ernment is able to convert good intentions

debt conditions and options, investment

are required.

to reality.

(perhaps a market place?), generation of existing plants, technology options, etc.,

The key objective is to develop solu-

the more competition and professional-

tions for overcoming Technical, Regulatory

try will benefit once the demand increases.

The following helps us get a gist of the industry:

ism will drive the market. If India will be one of the leading solar markets, it should

w Security and supply issues continue

also become a knowledge and technology

to motivate government to invest in renew-

leader. It would be much easier for India to

able capacity throughout the recession

ask leading cell and module manufacturers

years

to set up shop in India once the market has w

gained a certain size. India’s edge could be

in renewable energy development appears

in solar applications. It could become the

likely to continue

most innovative place for developing the solutions the country needs: hybridization

of solar with storage, diesel gen-sets and

technological leaders Currently, growth in

ogies at the distributed level; new online

the solar power sector can be associated

and offline solar business models. It is time

with various promotional policies both at

to open up the market entirely to entrepreand Financial challenges further unleashing cost competitive Solar energy. Lack This requires – in a very general way

of access to Capital is a key barrier for

– a simplification of procedures, such as

growth in this sector as Solar energy in In-

company regulations, accounting and taxa-

dia costs up to 50 percent more than pow-

tion regulations and financial regulations.

er from sources like coal. Rising efficiency

Accelerated depreciation benefits, for

and falling cost of Solar panels, cheaper

instance, hugely favor existing conglom-

capital and increasing thermal tariffs will

erate businesses over professional, finan-

close the gap within three years. Develop-

cial investors and start-ups (why not make

ing actionable Solar deployment plans and

them tradable?). Solar is ideally suited as a

strategies to promote deployment at resi-

distributed, consumer technology to power

dential, community, and commercial scales

anything from factories to households, ir-

from expanding shared or community Solar

rigation pumps, telecom towers, water

programs and local financing mechanisms

purifiers, mobile chargers or lights. This

can help in the exponential growth. State-

market could grow in a more stable, sus-

of-the art products, solutions and technol-

tainable way than the infrastructure mar-

ogy advancements that will drive down the

ket, because it would not hit roadblocks

costs of Solar energy and help India thrive

Feb-Mar 2015

Growth in this sector appears likely

to continue, with some nations emerging as

the grid; smart grid and metering technol-

neurs and to international investors.

This trend of government interest

the national and state levels. The National Solar Mission has been driving solar installations within the country since its launch in 2009. The current installed solar power capacity stands at around 3 GW, or about a tenth of the total renewable energy capacity, and just over 1% of the total power capacity of the country. If India achieves the 100 GW installed capacity by 2022, solar power would contribute about 25% to the total power installed capacity.

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Feb-Mar 2015

45Â

SO L A R ENERGY

Solar Water Pumping System An Ideal Solution For Micro Irrigation And Rural Drinking Water Supply Dwipen Boruah Managing Director, *GSES India Sustainable Energy Pvt. Ltd.

ater pumping is a fast growing and wonderful application for photovoltaic power systems. There is a natural match between the availability of sunlight and the need for water. Most photovoltaic pumping systems do not use batteries, thus avoiding a costly and high maintenance component and increasing the reliability greatly. In rural undeveloped areas, there is a critical need for fresh underground water to help prevent diseases spread by using surface waters. A low maintenance photovoltaic powered water system can bring health and prosperity to remote villages, without the burdens of paying for maintenance, spare parts or fuel. In this chapter we discuss issues associated with photovoltaic powered water delivery systems, including performance characteristics of different types of pumps and sizing concerns.

Market and Applications: PV pumping systems are most economically viable for small power demands typically below 5kWp. Capacity of solar pump can vary from few hundred watt for livestock watering or household use to several kilowatts for micro irrigation and village water pumping. 46Â

Feb-Mar 2015

In India, solar pump has unlimited potential for irrigation, village water supply and residential application. Total irrigation potential in India is 140Mha with 64Mha through ground water and 76Mha through surface water. 21% of Indiaâ&#x20AC;&#x2122;s total electricity consumption and 12-15% of Indiaâ&#x20AC;&#x2122;s total diesel consumption is consumed by agricultural sector mostly for irrigation through 21 million pump sets. As per minor irrigation census, 6-9 million diesel pumps were in use in 2003 and 700,000 diesel pumps are sold in India every year. The Ministry of New and Renewable Energy (MNRE), Government of India has been promoting solar pumps for micro irrigation under different schemes since 1985. MNRE has set a target of 1,00,000 solar pumps throughout the country out of which 50,000 solar pumps for irrigation and 20,000 solar pumps for drinking water

supply are to be implemented through state nodal agencies during 2014-15. Types of Motors for PV Pumping Systems: There are three types of motor types used in photovoltaic powered pumping systems: (1) Brushed (Permanent Magnet)DC motors; (2) Brushless (Permanent Magnet) DC motors; and

(3) AC motors The most important distinction is between AC and DC motors. DC motors can be coupled directly to the array producing the most efficient and simplest systems. AC motors require an inverter, thereby increasing complexity and adding inefficiency. However AC motors are easily available, cheaper, and more familiar to pump technicians. AC motors are typically used in larger photovoltaic pumping systems while DC motors are best used in smaller systems. The DC pumps used for PV applications are generally of the permanent magnet type. In a conventional DC motor, a magnetic field is produced electromagnetically by the field windings. In a permanent magnet motor, the magnet produces the magnetic field. Thus no power is consumed in the windings leading to higher efficiencies, which is always the preference in PV systems.

Types of Pumps for PV Pumping Systems: There are two general classes of pumps: (1) Centrifugal and (2) Positive Displacement Both centrifugal and positive displacement pumps can be further classified as: 1) Surface Pumps (motor mounted on the surface) (2) Submersible Pumps (motor placed into the water) Centrifugal pumps have blades or impellers that rotate at high speed, creating a pressure and forcing water to flow. Positive displacement pumps move a volume of water through a distance by means of a plunger or cavity, and then displace that water with another quantity of water behind it, and so on. In general, centrifugal pumps are good for moving large volumes of water; but the high speed of the impellers makes moving gritty water a problem. The performance of a centrifugal pump connected directly to a photovoltaic array is very sensitive to the peak irradiance. As the irradiance goes

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down, the current from the array goes down and the motor rotates more slowly. A change in the speed will be directly proportional to a change in the flow rate, but will have a geometric effect on head capability. Positive displacement or volumetric pumps are good for meeting large head requirements with small or moderate volumes. The rates are not as high as for centrifugal pumps, but the use of total available solar energy is generally better. Small changes in the irradiance on an array will slow the motor but will not reduce its ability to meet the head requirement as much as for centrifugal pumps. This is because it is still pushing one small unit of water after the next, just a bit slower. So once a positive displacement type pump has pumped enough to meet the head requirement, it will continue pumping all day long. Generally more of the solar energy over the day will be directly translated into volume of water pumped.

Choosing a Pump: The first requirement that any pump must satisfy is the total head. If the head is not reached, then no water will be pumped at all. If possible, the total dynamic head should be known, including friction losses in the pipes and any drawdown that will occur. Often all this information is not available. In that case, certainly at least the suction and discharge head must be known. The second requirement is that the pump must be able to deliver the required volume of water in a typical day to the specified head. Direct coupled solar pumping systems will operate only during daylight, and the output will vary with the daily insolation. A simple approach to choosing a pump begins with estimating the amount of “peak sun hours” available at the site, and dividing this into the total daily volume needed. This gives the rate of pumping during “peak sun hours” that the pump must perform. Choose a pump that can operate at the required head and that can output at this rate. The power needed by the pump to operate at this rate and this head will then determine the size of the solar array. If one pump is

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Pump Type Comparison:

Centrifugal

•

High speed impellers

• Volumetric movement

•

Large volumes

• Lower volumes

•

Moderate head

• High head

•

Loss of flow rate with high head

• Flow rate less affected by head

•

Low irradiance reduces ability to achieve high head

• Low irradiance has little effect on achieving head

•

Narrow range of efficiency

• Wide range of efficiency

• Possible grit abrasion not adequate to deliver the total volume, perhaps the manufacturer offers a way to combine pumps together.

Fixed vs. Tracking Structure: An important choice is whether a fixed array mount should be used or a sun position tracker. Fixed structures are less expensive and can withstand extremely high winds. But trackers can increase water output by 3040% during summer months. The amount gained depends upon your insolation levels, the time of the year and your latitude. Using a tracker could result in the reduction of the number of modules needed, which could then equal or exceed the cost of the tracker. Trackers though generally very reliable, do add complexity to the system and may need maintenance over time.

Matching Solar Array to Pump: Pumps have peak efficiency and operating away from that efficiency can result in large changes in output. It is not

Positive Displacement

• Unaffected by grit enough to connect an array with enough power to a water pump to achieve peak performance. The array must be configured so that the peak power voltage and current are closely matched to the motor load curve during the day. The mismatch problem in the photovoltaic water pumping system can be removed using a maximum power point tracking (MPPT).

Installation & Troubleshooting: Each pump type (e.g. surface centrifugal, pump jack, diaphragm) can require a wide range of different tools, equipment, etc. to install. As a general rule, surface pumps are easier to install, requiring few tools. Setting pumps down deep wells (50 meters or more) may require specialized pump setting equipment only available from the local well driller.The majority of PV pumping systems failures are caused by controller or pump problems. Proper installation will minimize the occurrence of these problems. The most common problems are the following. • Dry run due to varying water levels • Ingression of sand and dirt through pump inlet • Lightening due to poor or no use of earthing • Long pipe runs increase the head and thus the size of the PV array • Damage of control equipment due to poor environmental protection • Damage of pipes and pumps due to freezing of water in cold region

Feb-Mar 2015

TRANSM ISSION & D ISTRIB UTION

Reduction in AT&C through Social Indicators Siddartha Ramakanth Keshavadasu

B. Tech in Mechanical Engineering, MBA in Power Management from National Power Training Institute,

ith the mandate of 2% of the PAT as CSR through section 135 of the Companies Act 2013, firms became cautious in utilizing CSR which can benefit their business and also fulfil the requirement of CSR. The power sector is now facing a pile of issues and AT&C losses is the prime of all. Reduction in AT&C losses of the distribution utility is widely discussed topic in the Indian power sector from more than a decade. The government have tried many programs like introduction of IT, strong enforcement of law, capital expenditure, high voltage distribution etc. and still the losses are high than the sustainable mark. This figure in the Power sector is of high significance because the distribution sector is the critical point in the supply chain and value chain of the sector. The financial health of the distribution company is the key for a prosperous functioning of the other stake holders of the sector. The central idea of the article is to create a path for the distribution companies and other stakeholders of the sectors to reduce the losses through CSR. The observations of this article can put a pause to the most discussed and debated issue in the power sector. Apart from the lack of infrastructure and poor enforcement of law, my observation of the root cause of the AT&C losses is the lack of awareness and the poor social indicators of the society. The social indicators mainly consists of Literacy and Incomes of the location or area of the operations of the distribution company. To prove the observation scientifically, the statistics of 8 states regarding the Literacy levels and Income levels are tested for correlation. The observation proves correct only if the correlation factor is negative, multiple

48Â

Feb-Mar 2015

regression coefficient is around 0.8 and adjusted R2 is more than 0.6. For this study, 8 states namely, Andhra

Pradesh, Karnataka, Tamil Nadu, Kerala, Maharashtra, Chhattisgarh, Delhi and Haryana are selected. The independent values are the Social indicators and dependent factor is AT&C losses. Literacy Rate and Per Capita GDP (which explains per capita income) are considered as social indicators. A regression analysis is used to find out the relationship and explain-ability of the dependent variable by the independent variable. With the help of the above results, we can confidently say that 87% of the AT&C losses are explained by the Literacy indicator the state and 81% of the AT&C losses are explained by the Per Capita GDP of the state. With the above results the scope for

addressing the issue of AT&C losses have widened and this has given a direction for the power sector utilities to address the major issue by spending their CSR in the fields of

the Literacy and increase the contribution levels of public to the GSDP. The CSR activities can be done by sponsoring night schools to the adult and women education which could eventually lead to the awareness of people towards the electricity usage and value chain of the power sector. The CSR activities towards improvement of individual contribution of GSDP can be done by sponsoring the SMEs and there by accounting to be the part of organized contribution to GDP. By this way the cycle become healthy and the all-round development of the state takes place.

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SO L A R ENERGY

Using PV Electricity On The Spot Flexible Use Of Self-Produced Power Shivendra Singh Yadav Manager Sales & Business Development Solar-Log Asia Pacific

orld-wide about 50 TWh

important. The regulations on how much

special function for regulated grid feed.

of electricity are already

energy can be fed into the public grid

This function allows the amount of feed-in

generated by photovoltaic

generally differ from country to country

power to be adjusted to any percentage

plants today. The European Photovoltaic

and also change from time to time. That

of the plant’s power output. The remaining

Industry Association (EPIA) estimates

energy being produced is available for self-

that by 2030 PV plants will generate more

consumption. The data logger adjusts the

than 1,800 TWh, which accounts for more

inverter production accordingly.

than 14% of the electricity consumption worldwide. The biggest challenge here is to

Allocating electricity between self-

transport PV energy to where it is needed.

consumption and grid feed-in

A simple solution is to consume electricity When the amount of electricity that

where it is produced. Self-consumption of

is fed into the grid is limited to a certain

PV electricity eliminates the need for the cost-intensive transport of electricity via the grid from producer to consumer. However, many plant owners are still reluctant to use their own PV power. The

Figure 1: Efficient energy management and reliable plant monitoring with the control technology with, for example, the Solar-Log™. (Source: Solare Datensysteme GmbH)

percentage (X%) of the DC output, the amount of self-consumption needs to be calculated since the reduction rate is based on the percentage at the feeding point. It is allowed to have inverters generate more

typical reasons for this are a lack of knowledge

AC power, as long as it is ensured that the

about the practical implementation and

power is used for self-consumption by the

the fear that their consumption practices

respective household or company.

will have to be fundamentally changed. However, such reservations towards self-

The following example clearly

consumption can be minimized when using

demonstrates the advantages: A plant with

an intelligent energy management system

10 kWp has to be limited to a maximum

that automatically controls electrical devices

output of 7 kWp with the 70% reduction

and appliances. This is accomplished by using

rate. If an appliance, such as a stove, that

a data logger, such as the market leading Solar-Log™ from Solare Datensysteme GmbH, to simplify the management of self-produced power. The main tasks of the data logger, which is serving as an energy manager here, are to monitor PV yields

Figure 2: Setup for the automatic control of electrical devices and appliances. A power meter is already integrated into the Solar-Log™ Meter controlling and monitoring device. (Source: Solare Datensysteme GmbH)

and record the power consumption from

uses 600 watts of power is turned on, the inverter could also convert 7.6 kWp into AC power. All you need to ensure that only 7 kWp is fed into the grid is the appropriate energy management system, such as the Solar-Log™ data logger used in combination with a power meter.

individual devices. The consumption from

is why it is necessary that the PV power

the connected devices can be visualized and

producer can control how much of the yield

precisely analyzed.

is fed into the public grid and how much is

Selective grid feed-in

Presenting power yields and consumption

used for self-consumption. As an energy

An effective energy management system

Managing the PV energy that is fed

manager, the data logger should have an

not only has to control the production of

into the grid is becoming more and more

adjustable reduction rate (x%) option, a

electricity, but also the consumption by

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Feb-Mar 2015

Practical implementation of energy management

turning electrical appliances and devices on

to automatically turn appliances such as

and off at the right time. This is accomplished

heat pumps on and off. When the pre-

by employing a power meter in addition to

configured threshold is reached during the

How it works in practice: For example,

the data logger as the control unit. The

photovoltaic plant’s peak power production,

water heaters can be turned on at the

power meter measures and records the

several electrical appliances and devices can

start of the day when PV power is being

current amount power consumption which is

be automatically turned on to ensure that

produced and remain active throughout the

then transmitted real-time to the connected

power during this peak does not go to waste.

day. If power production increases during

data logger. This allows the current power

In addition to threshold values, profiles can

the day, then additional appliances such as

production and consumption levels to be

be customized with additional parameters

air conditioners can be automatically turned

presented, for example, in a graph. Based

such as time of day and minimum operating

on. It is also possible to configure a time by

on the levels in the graph, one can quickly

time. The appliances are monitored and

which the water heater is to be turned on

see if there is enough irradiance to turn on

controlled via networked smart plugs. Smart

even if there is not a sufficient amount of PV

an electrical appliance or device manually.

plugs measure the power consumption of the

power production. In this case, conventional

Data loggers such as the Solar-Log™

device connected to the socket and send this

electricity is obtained from the grid if there

Meter are also equipped with an integrated

data to the data logger. As a result, every

is not enough PV power production. This

power meter as an alternative to external

individual power socket connected with a

function can be applied to days with limited

power meters. This combination reduces

smart plug can be displayed in the graph

or no sun, but also to days with changing

installation time and costs.

with the total consumption. Air conditioning

weather conditions. As soon as there is not

systems are also ideal devices for self-

Intelligent control of electrical appliances and devices

enough PV power to meet the current needs,

consumption and power management. The

power is obtained from the grid.

In addition to presenting yields, modern

should be turned on automatically and which

Datensysteme GmbH

temperature should be maintained.

Images: Solare Datensysteme GmbH

energy management systems offer the option

Solar-Log™ system has settings for when it

Text: Vivian Bullinger, Solare

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Feb-Mar 2015

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Feb-Mar 2015

51Â

SO L A R ENERGY

Outback Power Grid Hybrid Digital Switching Technology For Off-Grid Battery-Back Using Solar Energy Nalin Patel, Country Head, Tractus Asia (India) Pvt. Ltd.

The power sector in India has failed to keep up with demand, and the country has been facing electricity deficits and shortages for decades. This lack of a dependable energy supply hinders business across India and leads to extra costs for both domestic and foreign companies since they must invest in back-up power sources and energy storage solutions. As trade relations between India and the US continue to move closer, Indian customers will benefit from new technologies that can fill in the gaps in the market. One such firm that has a solution to this energy issue is Outback Power. Tractus has been granted an exclusive mandate to support OutBack’s expansion in India by supplying them with local market research, assisting them in establishing new partnerships and identifying trade shows that would provide the best platform for Outback to advertise their technology.

also maintaining the long-term health of costly battery banks. OutBack’s Maximum Power Point Tracking (MPPT) technology enables a charge controller to increase the yield from a solar photovoltaic (PV) array by as much as 30% over conventional types. As the industry’s first multi-voltage MPPT controller, OutBack’s FLEXmax series remains the de facto industry standard charge controller in the market today.

products designed for the emerging Grid/ Hybrid category, systems that can provide both grid-tied economies during normal times and off-grid independence when the grid’s down during outages and emergencies. Grid/Hybrid technology is the key for getting maximum value and utility out of any energy system, especially renewable ones. For example, In a PV/solar power system , Grid/Hybrid power-conversion and

OutBack Power Technologies is the leading designer and manufacturer of advanced power components for renewable energy, back-up power, and mobile applications. OutBack creates, designs and engineers the industry’s most cutting edge power conversion components. The company has commenced development of a breakthrough product in power-conversion technology, a modular pure sine-wave inverter. This inverter is capable of producing electricity that is cleaner and more reliable than electricity that is event available from typical electrical grids. It also can be used in nearly any system configuration thanks to its building-block design. After developing its revolutionary inverter design, the company turned its attention to charge controllers, devices with the dual role of optimizing the output from PV arrays while

Over the years, Outback has commissioned a large number of projects across India and Asia. Recently, the company installed its nine GVX-series off - grid inverter/ chargers systems in the southern state of India, Kerala. The project revolved around powering an office complex from a 25KW PV array to run 18 tons of air conditioning, IT networking, lighting, and water pumps to support 45 office workers. Solar Power Propelled Electric Boat has components supplied by Outback power. These are ideal for tourism related activities such as boating in calm waters. The boat saves on CO2 emission, eliminates noise pollution, and comes with advanced safety features.

back-up components take the PV panel and installation investment beyond the simple utility savings models such as net-metering. Unlike a grid-tied system, a Grid/Hybrid system can also provide continuous power when the grid is down as well as during peak usage times. The Grid/Hybrid system will continue to take full advantage of offset savings by making it possible to shift on-site generators and storage around for maximum value to the user.

Feb-Mar 2015

Technology at a glimpse OutBack excels at power-conversion

Radian Series Inverter/Charger OutBack Power’s invertor/charger is an agile and powerful platform ideal for nearly all offgrid or grid-connected system architectures. The new Radian series GS8048Aand GS4048E of Grid/Hybrid (full-flexibility grid-interactive/off -grid)inverter/chargers are engineered towards one goal, making

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system design and installation easier and faster in grid-interactive and comprehensive for off -grid applications. Based on the company’s proven technology foundation, the Radian series simplifies the configuration, distribution, and implementation of energy storage through a standardized approach when integrated with a matching GS Load center. This makes it easier than ever to provide successful solutions for virtually any residential, commercial or institutional power requirement. The grid current split-phase Radian is an 8,000 Watt continuous power solution. The all-new 230V 50Hz Radian reflects OutBack’s ongoing commitment to clean, reliable power for homes, businesses and other facilities around the world, delivering 7,000 Watts of continuous power. Both models combine pure sine-wave power output technology with unsurpassed surge capability to start the most demanding appliances and are built around a unique dual-power module design that ensures high efficiency in both low and full power operation as well as redundancy in missioncritical applications. Both Grid/Hybrid inverters incorporate OutBack’s smarter interactive technology for full operational flexibility. In regions where the ability to sell energy back to the grid may be restricted or limited, the Radian’s off set function means a user can prioritize and still take full advantage of their PV or other renewable energy source and use excess energy to power their loads, “offsetting” dependence on the grid. In areas where the grid is inconsistent or unreliable, the Radians can seamlessly switch between grid-interactive and off -grid operation. The Radians have dual AC inputs which automatically switch between an active grid and generator input without the need for an external, costly transfer switch. The Radian series’ modular system architecture and simplified parallel design supports system scaling of up to ten inverters delivering 80kW (GS8048). The 50Hz GS7048E can support three-phase systems up to 21kW and multiple inverter arrays of up to 70kW. System integration and programming is easy with the powerful MATE3 Control and HUB Communications Management devices. Advanced frontvented layout provides optimum cooling in zero-clearance installations (where units are installed next to each other, for example). Field-serviceable design simplifies

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maintenance if needed, and firmware updates can be easily made in the field without specialized equipment.

Radian Series GS Load Center (GSLC) The GSLC is a balance-of-systems enclosure designed to seamlessly integrate with the Radian Series inverter/chargers, FLEXmax Charge Controllers, and the OutBack HUB Communications Manager. Three available models allow quick and easy installation of power systems of any size. Additional features of the GSLC line include its powdercoated galvanized chassis, ample knockout locations fitting 1/2” to 2” conduit, aesthetic

stainless steel door and simple mounting to a Radian Series inverter/charger. It is listed to UL1741 and CSA C22.2 No. 107.1-01, is Type 1 indoor rated (IP30) and can also be used on its own as a separate breaker enclosure for use with other inverter models.

system to perform like a much larger one when required, putting stored and renewable energy sources to work and minimizing grid dependence • Support AC-Coupling through a compatible load center to provide an economical solution for upgrading existing grid-tied systems to battery back-up capability • Complete system interfacing using the OutBack MATE3 and HUB communications manager enables the Radian to be connected with other OutBack Power electronics providing industry leading integration and a scalable power solution. Up to 10 units can be connected in parallel for systems up to 80kW continuous power output • Is IEC 62109-1 certified to meet the most stringent worldwide PV safety and emission standards OutBack Power is an expert in precisionengineering and manufactures over 200 components in this category. The dedication to advanced technology, quality and reliability provide system architects and installers with the best component foundation for renewable energy application projects. With an emphasis on product performance, OutBack has established itself as the product of choice in harsh environmental conditions and applications where product reliability is paramount. OutBack’s customer service and technical support have received industrywide acclaim for offering customers a “no

Features • The new Radian Series inherit the hallmark features of the original design, including: dual AC inputs for grid/generator flexibility with unparalleled surge capability and operational stability and no external switching • Simplified system commissioning through a powerful easy-to-use configuration wizard, multi-mode operational flexibility and enhanced diagnostics for improved performance • Advanced Battery Charging (ABC) profile option to support leading-edge battery technologies such as Lithium-Ion and others • Provides precise balancing between using stored energy, solar and utility power, blending-in the latter to overcome surges and load spikes when needed • GridZero operation makes it possible for a smaller inverter and battery

hassle” approach to problem solving. With renewed focus in India’s renewable energy and clean-tech sector post-elections, we see increased demand from both public and private sector consumers for such innovative products. Outback has a panIndia presence through its network of vendors and partners.

Feb-Mar 2015

P O L I CY & REG UL A T I O N S

Delhi Electricity Regulatory Commission (Net Metering for Renewable Energy) Regulations, 2014

No. F. 9(116)/DERC/Tariff/DS/2013-14/ C.F 4110/ - In exercise of powers conferred underSection 181 read with Sections 61 and 86(1) (e) of the Electricity Act, 2003 (Act 36 of 2003) and all other powers enabling it in this behalf, the Delhi Electricity Regulatory Commission hereby makes the following regulations for Net Metering and grid connectivity for Renewable Energy Generator.

Scope and application r These Regulations shall apply to such consumers who are a buyer of energy/electricity from the distribution licensee in its area of supply and the distribution licensee. r The Renewable Energy System shall comply with the standards and technical specifications as may be prescribed from time to time under the applicable law.

General conditions r The Distribution Licensee shall allow connectivity to the Renewable Energy System, on first come first serve basis, subject to operational constraints Provided that the available capacity at a particular distribution transformer, to be allowed for connectivity under these Regulations, shall not be less than the limits as specified by the Commission from time to time r The Distribution Licensee shall provide information regarding distribution 4 transformer level capacity available for connecting Renewable Energy System under net metering arrangement within 1 (one) month from the date of notification of these regulations on its website and shall update the same within 7 working days of the subsequent financial year under intimation to the Commission. r The capacity of Renewable Energy System to be installed at any premises shall be subject to; r The feasibility of interconnection with the grid; r The available capacity of the service line connection of the consumers of the 54Â

Feb-Mar 2015

premises; and the sanctioned load of the Consumer of the premises; r Subject to Regulation 5(3)(i) & 5(3) (ii), if a Renewable Energy Generator has already installed or intends to install a Renewable Energy System of capacity higher than the sanctioned load of the consumer of the premises, and requires to connect it with the distribution licenseeâ&#x20AC;&#x2122;s system, then such Consumer of premises shall pay Service Line cum Development (SLD) charges at the time of registration of Renewable Energy System, equal to the differential amount of SLD charges between the capacity of the Renewable Energy System and the existing sanctioned load on the lines of enhancement of sanctioned load, as prescribed in the DERC Supply Code & Performance Standards, Regulations 2007 as amended from time to time and relevant orders issued thereof by the Commission from time to time. r The capacity of Renewable Energy system to be installed at the Premises of any consumer shall not be less than one kilo watt peak.

Procedure for Application and Registration r The Commission may issue guidelines and directions from time to time in respect of submission and processing of the application and applicable fee there-off for connectivity of Renewable Energy System with the distribution system under these Regulations which the Distribution Licensee, consumer of the premises and the Renewable Energy Generator shall abide by. r The consumer of the premises and/ or the Renewable Energy Generator, as the case may be, shall submit the application to the concerned Distribution Licensee to connect the Renewable Energy system to the distribution system of the Distribution. The Distribution Licensee shall make available all the forms on their website and at their local offices. 5 r The Distribution Licensee shall ac-

knowledge the application and take all necessary actions including sending appropriate communications to the applicant as per the guidelines issued under these Regulations.

Interconnectivity, Standards and Safety r The distribution licensee shall ensure that:r The interconnection of the Renewable Energy System with the distribution system of the licensee conforms to the specifications, standards and provisions as provided in the Central Electricity Authority (Technical Standards for connectivity of the Distributed Generation Resources) Regulations, 2013, as amended from time to time; r The interconnection of the Renewable Energy System with the distribution system of the licensee conforms to the relevant provisions of the Central Electricity Authority (Measures relating to Safety and Electric Supply), Regulations, 2010, as amended from time to time r The Renewable Energy Generator may install grid interactive Renewable Energy system with or without battery backup. Provided that if the Renewable Energy Generator, prefers connectivity with battery backup (full load backup/partial load backup), in all such cases the inverter shall have separate backup wiring to prevent the battery/ Decentralized generation(DG) power to flow into the grid in the absence of grid supply and manual isolation switch shall also be provided. r The Renewable Energy Generator shall be responsible for safe operation, maintenance and rectification of any defect of the Renewable Energy System upto the point of Net Meter beyond which the responsibility of safe operation, maintenance and rectification of any defect in the system, including the Net Meter, shall rest with the Distribution Licensee. r The Distribution Licensee shall have the right to disconnect the Renewable En-

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ergy System at any time in the event of possible threat/damage, from such Renewable Energy System to its distribution system, to prevent an accident or damage. Subject to Regulation 7 (3) above, the Distribution Licensee may call upon the Renewable Energy Generator to rectify the defect within a reasonable time. 6

Metering arrangement r All the meters shall adhere to the standards as specified in CEA (Installation and Operation of meters) Regulations 2006 and (Installation and Operation of meters) Regulations, 2010 as amended from time to time. r The Net Meter shall be, as per single phase or three phase requirement. All the meters to be installed for net metering shall be of the same or better Accuracy Class Index than the existing meter installed at its Premises. r The Renewable Energy Meter and the Net Meter at the premises of the consumer shall be procured and installed by the Distribution Licensee as per the provisions of DERC (Supply Code and Performance Standards) Regulations 2007. However, if the consumer of the premises wishes to procure the Net Meter, he may procure such meter and present the same to the distribution licensee for testing and installation. r All meters, including the Renewable Energy Meter shall be installed at an accessible location of the Premises to facilitate easy access for meter reading to the Distribution Licensee. r The cost of Renewable Energy Meter shall be borne by the distribution licensee and the cost of Net Meter shall be borne by the consumer of the premises. The consumer of the premises or the distribution licensee, who so ever if desires, may install check meter at their own cost. r The charges for the testing and installation of the Net Meters shall be borne by the consumer of the premises and for the Renewable Energy Meter shall be borne by the Distribution Licensee r The Net Meters to be installed for the consumers of the premises under the ambit of time of day tariff shall be time of day (ToD) compliant.

Billing and Energy Accounting r The accounting of electricity generat-

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ed, consumed and injected by the Renewable Energy Generator under these regulations shall become effective from the date of connectivity of Renewable Energy System with the distribution system under these Regulations. r The procedure for billing and energy accounting shall be applicable as directed by the Commission from time to time.7 r The Distribution Licensee shall show, separately, the energy units exported, the energy units imported, the net energy units billed and/or the energy units carried forward, if any, to the consumer in their bill for the respective billing period. r If during any billing period, the export of units exceeds the import of units consumed, such surplus units injected by the consumer shall be carried forward to the next billing period as energy credit and shown as energy exported by the consumer for adjustment against the energy consumed in subsequent billing periods within the settlement period. r During any billing cycle, the distribution licensee shall raise invoice for the net electricity consumption, as per applicable tariff, only after adjusting / netting off of the unadjusted energy credits of the previous billing cycle(s). r The surplus energy measured in kilowatt hour shall be utilized to offset the consumption measured in kilo-watt hour only unless otherwise allowed by the Commission from time to time. In case the Consumer is billed on kVAh, during injection of surplus energy to the grid, the Power Factor shall be assumed equal to unity. r At the end of the each Financial Year, any net energy credits, which remain unadjusted, shall be paid for by the distribution licensee to the consumers as per the rates notified by the Commission from time to time. r There shall be no deemed generation charges payable to the Renewable Energy Generator or consumer of the premises.

The eligibility for Renewable Energy Certificate and issue of such certificate Renewable Energy under these Regulations shall be as per the eligibility criteria specified under Central Electricity Regulatory Commission (Terms and Conditions for recognition and issuance of Renewable Energy Certificate for Renewable Energy Generation) Regulations, 2010 and subsequent amendments thereof;

Renewable Purchase Obligation The quantum of electricity generated under these Regulations shall qualify towards compliance of Renewable Purchase Obligation (RPO) for the distribution licensee if Renewable Energy Generator is not an obligated entity.8

Violation of regulations: r In case of violation of these regulations by a party viz. consumer, distribution licensee and Renewable Energy Generator shall be liable to pay penalty as decided by the Commission. r The Commission may grant compensation to the affected party.

Powers to give directions The Commission may from time to time issue such directions/guidelines/ orders as it may consider deemed fit/appropriate for the implementation of these Regulations

Powers to relax The Commission may by general or special order, for reasons to be recorded in writing may relax any of the provisions of these Regulations on its own motion or on an application made before it by an interested person. r Powers to amend The Commission may from time to time add, vary, alter, suspend, modify, amend or repeal any provisions of these Regulations

Applicability of other charges The Renewable Energy system under net metering arrangement shall be exempted from wheeling, banking, cross subsidy and other charges for a period of Five years, unless extended thereafter. r Eligibility to Participate under Renewable Energy Certificate Mechanism

Feb-Mar 2015

55Â

P O L I CY & REG UL A T I O N S

Guidelines under DERC (Net Metering for Renewable Energy) Regulations, 2014

Introduction:

for already installed or intention for

r In order of priority, the Distribution

To promote use of Renewable Energy

installation of a Renewable EnergySystem

Licensee shall complete the feasibility

Generation for self consumption of the

of Capacity higher than the sanctioned

analysis for connecting the Renewable

consumer, Delhi Electricity Regulatory

load of the consumer of the premises, the

EnergySystem to the distribution system

Commission has issued DERC (Net Metering

enhancement of such line capacity shall be

within thirty (30) days from the date of

for Renewable Energy) Regulations 2014,

used only for calculation of Service Line

receipt of the application..

herein after referred to as Net Metering

cum Development (SLD) charges and not

Regulations, 2014.

for levying corresponding additional fixed charges.

operational constraints it is not feasible

For effective and proper implementation of the Net Metering Regulations, 2014, the Delhi Electricity Regulatory Commission,

r On feasibility analysis, if it is found that due to certain reasons including

r Procedure for Application and Registration

for the Distribution Licensee to provide connectivity at all or upto the applied capacity i.e. connectivity is feasible for a

in exercise of powers conferred under the Electricity Act, 2003 and under Regulation

The procedure for connectivity of

reduced capacity, the Distribution Licensee

14 of the Net Metering Regulations, 2014

Renewable EnergySystem under Regulation

shall specifically record the reasons

hereby formulate the following guidelines:

6 of Net Metering Regulations, 2014 is a

thereof and subject to clause 5 of these

three tier process, which is as follows;

guidelines, intimate in writing the same to the applicant(s) specifically mentioning that:

r Available Capacity at Distribution Transformer level for Net Metering (1)

i) Feasiblity Analysis,

Distribution Transformer level capacity

ii) Registration

to be offered for Connecting Renewable

iii) Connection Agreement.2

exercised in writing, to either (i) accept

The procedure adopted for these

the connectivity for the reduced capacity

EnergySystem for Net Metering by the Distribution Licensee shall not be less than 20% (Twenty percent) of the rated capacity of respective distribution transformer.

processes shall be as under:

(a) the applicant has the option, to be

and approach the Distribution Licensee to process the case; or (ii) seek refund of its

Feasibility Analysis:

application fee either within seven (7) days of the receipt of the intimation; or

r Save as 1(1) above and the capacity

The consumer shall submit an

specified by the Distribution Licensee

application, seeking connectivity under

(iii) to stay in the priority list till its

under Regulation 5(1) of Net Metering

the Net Metering Regulations, 2014 in

validity i.e. upto 180 (one hundred and

Regulations, 2014, the Commission at its

the specified format as per Annexure â&#x20AC;&#x201C; I

eighty) days under clause 3(2) of these

sole discretion may appoint an independent

along with an application fee of Rs. 500/-

guidelines, for re-consideration and approval

agency to assess capacity that may be made

(Rupees Five Hundred) only to the concerned

in case of future availability of applied

available for offering connectivity from any/

Distribution Licensee for feasibility analysis.

capacity at the distribution transformer level etc. within such period.

all of the distribution transformer(s) for Renewable EnergySystem by the Distribution

The Distribution Licensee shall

acknowledge the receipt of the application

(b) If the applicant seeks refund, the

form and shall record time, date & serial

Distribution Licensee shall refund the

number of the receipt which shall form the

application fee within seven (7) days from

basis for drawing the priority list, for further

the date of receipt of intimation from the

Subject to the Regulation 30 of DERC

processing of applications on first cum first

applicant in this regard. Thereafter, the

(Supply code and Performance Standards

serve basis. Such a priority list having validity

Distribution Licensee shall notify the updated

Regulations), 2007 and subsequent

of one hundred and eighty (180) days from

position of the remnant applicants in the

clarification issued/amended by the

the date of receipt of application shall be

priority list.3

Commission from time to time , enhancement

displayed at prominent locations in the

of line capacity in terms of Regulation 5(4)

offices of the Distribution Licensee and to

of the Net Metering Regulations,2014

be uploaded on its website.

Licensee.

General Conditions

56Â

Feb-Mar 2015

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of priority list of one hundred and eighty

clause 3(6) of these guidelines, shall apply for

Form and/or the documents submitted by the

(180) days the required capacity does not

registration of his scheme for installation of

applicant giving him a final opportunity to

get available, the Distribution Licensee shall

the Renewable EnergySystem in the format

cure the deficiencies and its re-submission. 5

refund the application fee on its own within

specified in Annexure-II (Registration Form)

r The applicant within fifteen (15)

seven (7) days of expiry of such 180 (one

along with requisite documents and the

days from such intimation shall cure the

hundred and eighty) days period;

Registration Charges as stipulated below

deficiencies and re-submit the Registration

and other applicable charges:-

Form along with documents to the

The Distribution Licensee shall

r At the time of submission of

Distribution Licensee. If the Registration

seek prior approval of the Commission

Registration Form, the Distribution

Form is found complete and in order, the

for not providing connectivity or offering

Licensee shall perform preliminary checks

Distribution Licensee shall register the

connectivity for a reduced capacity.

of all the documents submitted along with

scheme and assign a Registration Number

the Registration Form in the presence

to it. However, if it is observed that certain

r On feasibility analysis, if it is found

of applicant or his representative, and if

deficiencies still persist, the application

feasible for the Distribution Licensee to

found complete, shall receive the form and

for registration may be rejected under

provide connectivity for the applied capacity

acknowledge its receipt.

intimation to the Commission.

or a reduced capacity under clause 3(4) (a)(i), the Distribution Licensee within seven (7) days from the feasibility analysis shall inform all such applicants, to apply for registration and further processing. A Registration form as per Annexure – II shall also be furnished with the Intimation Letter containing the following information:

r The Distribution Licensee shall Sl. No.

Capacity (kW)

Charges (Rs)

1 to ≤ 10

1000/-

10to ≤ 50

3000/-

50 to ≤ 100

6000/-

100 to ≤ 300

9000/-

300 to ≤ 500

12000/-

(a) Details of documents to be submitted by the applicant; (b) Technical specifications including the essential safety features;

6 500 15000/-

scrutinize the Registration Form within forty

Meter and Net Meter;

five (45) days from the date of its receipt,

(d) Relevant abstract of the applicable Rules & Regulations; (e) List of approvals / clearances required from respective authorities / agencies for installation of Renewable EnergySystem; (f) Model Renewable EnergySystem line diagram for grid connectivity; (g) Model Connection Agreement; (h) SLD charges, if applicable as per Regulation 3(4); (i) Applicable charges as specified by the Commission from time to time; (j) Any other information/details as may be required to ensure safe and reliable operation of the distribution system with prior approval of the Commission;

and shall ither

Connection Agreement: r Within thirty (30) days from the date of registration, the Distribution Licensee and

(a) allot a Registration Number to the

the Consumer shall execute a Connection

applicant, if Registration Form is found

Agreement. The Connection Agreement shall

complete and in order, or

include clauses relating to interconnectivity,

(b) intimate the applicant about the

billing and settlement, dispute resolution and

deficiencies observed in the submitted

Standards as per Net Metering Regulations,

Registration Form, if any, along with the

2014, relevant Guidelines, Orders thereof,

instructions to cure such deficiencies.

as amended from time to time.

r The consumer shall re-submit the Registration Form, along with the requisite

In case the applicant fails to execute the

documents, after curing the deficiencies

Connection Agreement for reasons assigned

contained therein within fifteen (15) days

to him, the registration shall be treated as

of the receipt of intimation.

cancelled.

r Within fifteen (15) days from the date of receipt of the re-submitted Registration

r The applicant shall avail the

Form, the Distribution Licensee shall

connectivity of the Renewable EnergySystem within one

(k) Important clauses related to the

scrutinize it and shall (a) register the

technical and interconnection requirements

scheme and assign a registration number

as stipulated in Annexure –III.4

if Registration Form is found complete and

Registration:

in order;

r year from the date of registration, failing which the registration may

r The applicant, within thirty (30) days

(b) give a personal hearing to the

be cancelled under intimation to the

from the date of receipt of the intimation

applicant and also intimate in writing the

Commission and the Distribution Licensee

regarding feasibility and capacity under

deficiencies, found if any, in the Registration

can proceed for allotment of such capacity

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Feb-Mar 2015

to other applicants, strictly on the basis

of electricity, shall mean the differential

hours or in a time block when Distribution

of first come first serve basis as per the

cost between existing consumer meter,

Licensee is having more demand than the

available priority list.

if removed and such a new Net Meter is

available energy, Distribution Licensee with

installed to be borne by the consumer.

the approval of the Commission may propose

r The applicant shall obtain requisite approvals, in accordance with the provisions

In case net metering is done with the

7 incentives to such consumers to increase

of the Central Electricity Authority (Technical

help of two unidirectional meters, the cost

such generation to reduce costly short term

Standards for Connectivity of Distributed

of additional meter, other than the existing

power purchase of that time block.

Generation Resources) Regulations, 2013

consumer meter shall be borne by the

for commissioning of the Renewable Energy

consumer.

System, and furnish copies of approvals to

r Tariff at the end of financial year for surplus energy The Consumer shall be paid for net energy credits which remain

r Meters shall be Meter Reading

unadjusted at the end of the financial year

r The Distribution Licensee, within

instrument (MRI) compliant or AMR

at the rate of Average Power Purchase Cost

fifteen (15)days from the date of installation

(Automatic Meter Reading) or AMI

(APPC) of the Distribution Licensee for

of the Renewable Energy System shall

(Advanced Metering Infrastructure)

the respective year on provisional basis.

procure, test and install the Net Meter.

compliant for recording meter readings.

Subsequently after true up of the power

the Distribution Licensee.

In case the Net Meter is procured by the applicant, the Distribution Licensee, within

purchase cost of the Distribution Licensee,

Procedure of billing & accounting

by the Commission, adjustment amount

fifteen (15) days from the intimation from

Procedure of billing & accounting for a

between provisional rate and trued up rate

the applicant regarding procurement of the

Consumer as determined by the Commission

of average power purchase cost shall be

Net Meter, shall test and install the Net

from time to time, in terms of Regulation

credited/debited to the account of consumer

Meter so procured.

9.2 of Net Metering Regulations, 2014 shall

in the next billing cycle after issuance of

be as follows:

the true up order of the relevant year by

r The Distribution Licensee shall, within fifteen (15) days of receipt of the

r Non Time of Day Tariff Consumers:

intimation under Regulation 8(2) of the

If during any billing period, the export of

the Commission.

Net Metering Regulations, 2014 test the

units exceeds the import of units consumed,

Renewable Energy System in the presence

such surplus units injected by the consumer

Theft of electricity and tampering of

of the applicant as per the provisions of

shall be carried forward to the next billing

meter(s) shall be settled as per the relevant

the Central Electricity Authority (Technical

period as energy credit and shown as energy

provisions of the Electricity Act 2003 and

Standards for Connectivity of Distributed

exported by the consumer for adjustment

the DERC Supply Code and Performance

Generation Resources) Regulations, 2013

against the energy consumed in subsequent

Standards Regulations, 2007 ,as amended

and shall provide the connectivity with the

billing periods within the settlement period.

from time to time.

Time of Day Tariff Consumers

Dispute Resolution

Theft and Tempering of Meter(s)

distribution system. r Distribution Licensee may keep the entire information regarding application

Any dispute in billing shall be settled as

and registration of the Renewable Energy

a) The electricity consumption in any

per the DERC (Guidelines for Establishment

System on the website or web portal for

time block (e.g., peak hours, off-peak hours,

of Forum for Redressal of Grievances of the

transparency and convenience. 6

etc.)

Consumers and Ombudsman) Regulations,

shall be first compensated with the

2003.

Interconnectivity, Standards and Safety

electricity generation in the similar time

The right of the Distribution Licensee to

purpose of carry forward of surplus or

r In case of violation of these guidelines

disconnect the Renewable Energy System

set off of energy credits, the energy units

by any party viz. Consumer, Distribution

under Regulation 7(4) of the Net Metering

shall be moderated as per the relevant

Licensee and/or Renewable Energy

Regulations, 2014 shall be governed by the

rebate/surcharge percentage of ToD tariff

Generator, the errant party shall be liable

Central Electricity Authority (Measures

applicable for the relevant year. Any surplus

to pay penalty as decided by the Commission.

relating to Safety and Electric Supply),

generation over consumption in any time

Regulations, 2010, as amended from time

block in a billing cycle shall be accounted

to time.

as if the surplus generation/ Energy Credits

blocks in the same billing cycle. For the

occurred during the off-peak time block. For

Metering Arrangement and Standards

the purpose of clarity, a sample calculation of moderation of units is at Annexure IV.

Violation of guidelines

The Commission may grant

compensation to the affected party.

Powers to amend The Commission has powers to amend, add vary, alter, suspend, modify or repeal provision(s) of these guidelines as and when

r Cost of the Net Meter, which is

b)If the consumer is injecting energy

capable of recording both import and export

into the distribution system in the peak

58Â

Feb-Mar 2015

it deems fit.

www.EQMagLive.com

EQ Solar Leadership Summit south

International Solar Technology & Investment Summit

South India 8-9, APRIL 2015 Hyderabad

Saumya Gupta saumya.gupta@eqmag.net www.EQMagLive.com +91-95754-99990

Arpita Gupta arpita.gupta@eqmag.net +91-90095-55914 EQ Feb-Mar 2015

QUARTER RESULT S

Canadian Solar : “Recurrent Acquisition Being A Significant Milestone Is Expected To Close In The First Quarter Of 2015 And Will Expand The Total Project Pipeline To 8.5 Gw” Saumya Bansal Gupta - EQ International

Fourth Quarter 2014 Highlights •

•

Total solar module shipments were

recognized in revenue in the third

•

quarter of 2014 and fourth quarter guidance in the range of $925 million to $975 million.

(“Recurrent”) for $265 million from

$817.2 million at the end of the third

Sharp Corporation.

Net cash generated from operating to net cash generated from operating

•

Total solar module shipments were 3,105 MW, with 2,813 MW recognized

activities of $204.1 million in the third

860 MW.

compared to $914.4 million in the third

to acquire Recurrent Energy LLC

totaled $1.02 billion, compared to

activities was $259.1 million, compared

guidance in the range of 810 MW to

Net revenue was $956.2 million,

cash balances at the end of the quarter

Full Year 2014 Highlights

quarter of 2014, and fourth quarter

•

Company entered into an agreement

quarter of 2014.

1,125 MW, with 897 MW recognized in revenue, compared to 770 MW

Cash, cash equivalents and restricted

in revenue, compared to 1.9 GW

quarter of 2014.

recognized in revenue in 2013 and full year 2014 guidance in the range

•

During the quarter, the Company closed

of 2.7 GW to 2.8 GW.

the sale of five solar power plants in Canada, and one solar power plant in the United States.

•

Net revenue was $2.96 billion, compared to $1.65 billion in 2013 and full year 2014 guidance in the range

•

Net revenue from the total solutions

•

of $2.93 billion to $2.98 billion.

business as a percentage of total net revenue was 51.7% compared to

•

53.8% in the third quarter of 2014.

Net revenue from the total solutions business was 44.5% of total net revenue, compared to 28.6% in 2013.

•

Gross margin was 19.3%, compared to 22.9% in the third quarter of 2014 and

•

Income from operations was $366.3

fourth quarter guidance in the range

million and non-cash charges for

of 17% to 19%.

depreciation, amortization and equity compensation were $87.7 million.

•

Income from operations was $116.0 million and non-cash charges for

•

depreciation, amortization and equity compensation were $23.4 million

Net income attributable to Canadian Solar was $239.5 million, or $4.11

After the end of the quarter the

per diluted share, compared to $31.7 million, or $0.63 per diluted share, in

•

2013.

Net income attributable to Canadian Solar was $75.7 million, or $1.28 per diluted share, compared to $104.2

•

During the year, the Company delivered

million, or $1.75 per diluted share, in

a total of 454MW of system kits and

the third quarter of 2014.

utility-scale solar power plants to all of its key markets.

Feb-Mar 2015

www.EQMagLive.com

•

Cash flow from operations was

representing a revenue opportunity of at

approximately $265.1 million,

least $6.0 billion over the next two to

construction (“EPC”) services. Canadian Solar’s late-stage, utility-scale solar project pipeline is

compared to $229.5 million in 2013.

three years, under a build-and-sell business

expected to increase by approximately 1.0 GW

By geographic area, in the fourth

model. This gives us a level of stability and

DC to 2.4GW DC with the Recurrent acquisition,

quarter of 2014, sales to the Americas

visibility unique in the solar power industry

which is expected to close in the first quarter

represented 61.8% of net revenue,

and further consolidates Canadian Solar’s

of 2015.

sales to Asia and other markets

position as a Tier 1 global leader in the

represented 32.7% of net revenue,

solar industry.”

and sales to Europe represented 5.5% of net revenue, compared to 71.7%, 20.9% and 7.4%, respectively, in the third quarter of 2014 and 32.1%, 62.4% and 5.5%, respectively, in the fourth quarter of 2013.

In Canada, as previously announced, the Company closed the sale of five solar power

Michael G. Potter, Senior Vice

plants (RayLight, Liskeard 1, DiscoveryLight,

President and Chief Financial Officer of

FotoLight and SparkleLight) totaling 50 MW

Canadian Solar, added: “2014 was a record

AC and valued at over C$311 million.

year for shipments and profitability and a breakthrough year for our energy business, and the fourth quarter was a record fourth

Business Outlook

quarter. Our global module and energy business teams worked hard to deliver these

The Company’s business outlook is

strong results. In the fourth quarter, both

based on management’s current views and

shipments and gross margin exceeded our

estimates with respect to operating and

expectations as we benefitted from higher

market conditions, its current order book,

gross margin utility-scale solar power project

global and local financing environment as

sales and improved efficiencies from our

well as uncertainty relating to customer

ongoing manufacturing cost reduction

final demand and solar project construction

Executive Officer of Canadian Solar,

efforts. These improved efficiencies partially

schedule. Management’s views and estimates

remarked: “This was a record year for

offset lower average selling price mainly

are subject to change without notice.

Canadian Solar. We achieved new high

caused by currency fluctuations. We believe

water marks in terms of solar projects

that we are now well positioned to deliver

For the first quarter of 2015, the

sold, solar modules shipped, revenue, net

increased value to our shareholders, which

Company expects total module shipments

income and free cash flow. Our success in

include many of our employees, as we look

to be in the range of approximately 1,000

monetizing our global solar project pipeline

to move beyond a build and sell model for

MW to 1,030MW, including approximately

has strengthened our balance sheet, which

our energy business. 2015 should prove to

55 MW of shipments to the Company’s

has allowed us to secure new projects to

be another year of solid progress for us and

utility-scale solar projects that will not be

replenish our pipeline, as evidenced by our

our whole management team is excited at

recognized into first quarter 2015 revenue.

acquisition of projects in Japan, and the

the possibilities that are now open to us.”

Total revenue for the first quarter of 2015 is

Dr. Shawn Qu, Chairman and Chief

United Kingdom as well as our recently announced acquisition of Recurrent. The Recurrent acquisition, which is expected to close in the first quarter of 2015, is a significant milestone, as it expands our total project pipeline to 8.5 GW, with approximately 2.4 GW of late-stage projects

expected to be in the range of $725 million At the end of February of 2015, the Company had a pipeline of late -stage, utilityscale solar projects totaling approximately 1.4 GW DC. These projects include owned and jointventure projects as well as projects where the Company provides engineering, procurement, and

to $775 million, with gross margin expected to be between 16% and 18%. The gross margin guidance for the first quarter of 2015 factors in the impact of the U.S. trade case of approximately 200 basis points, the depreciation of several currencies against the U.S. dollar, and the mix of project sales expected to be recognized in Canada.

For the full year 2015, the Company expects total module shipments to be in

www.EQMagLive.com

Feb-Mar 2015

the range of approximately 4.0 GW to 4.3

and China is subject to change without

and we are now planning to form a YieldCo

GW, including 3,300MW to 3,500 MW of

notice as a result of delays in permitting

vehicle, in order to maximize value creation

third-party module sales, 235 MW to 275

and construction, among other risk factors.

for our shareholders over the long-term.

WW of project and EPC sales, and 460 MW

The acceptance testing and closing process

We expect that a YieldCo vehicle and its

to 490 MW of shipments to projects which

for projects only starts after COD.

subsequent listing would enable us to capture

will be held on the balance sheet pending the launch of a YieldCo vehicle. Total revenue for the full year 2015 is expected to be in the range of $2.8 billion to $3.0 billion. Absent the planned change in the Company’s energy business model from a build-to-sell to a build and operate model, revenue for 2015 would be approximately $1.0 billion to $1.1 billion higher.

the value inherent in our large pipeline of Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar commented: “We continue to execute well on our long-term vision of building Canadian Solar into a leading global solar energy provider. Once we complete the acquisition of Recurrent, our significantly expanded, globally diverse project pipeline gives us additional strategic options to create lasting

The estimated commercial operation

value for our shareholders. We have been

date (“COD”) of all of the Company’s late-

reviewing various options to structure and

stage projects in Canada, the US, Japan

potentially list our downstream business,

Feb-Mar 2015

long-term contracted assets and to recycle capital. We are engaged in the process of analyzing the optimal structure for a YieldCo, including the optimal asset profile. We expect to complete the sale of those Canadian projects for which we have an identified end-buyer. We may, however retain other projects that we have developed for eventual inclusion in the asset base of a YieldCo structure or add additional assets from third parties. We plan to update the market as the process evolves.”

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Saumya Bansal Gupta - EQ International •

Net sales of $1.0 billion for the fourth quarter and $3.4 billion for 2014

•

GAAP earnings per fully diluted share of $1.89 for the fourth quarter and $3.91 for 2014

•

Cash and marketable securities of $2.0 billion, net cash of $1.8 billion 2014 full year bookings of 2.5GWdc; 2015 year-to-date bookings of 311MWdc

First Solar, Inc. announced financial results for the fourth quarter and year ended December 31, 2014. Net sales were $1,008 million in the quarter, an increase of $119 million from the third quarter of 2014. The sequential increase in net sales resulted from the sale of the Solar Gen 2 project, initial revenue recognition on the Silver State South project and other projects under construction. Revenue recognition from the Desert Sunlight and Topaz projects were lower as the projects reached completion.

million in the fourth quarter. The increase in cash and marketable securities during the quarter was due to the sale of the Solar Gen 2 project and the collection of retention payments on the Topaz and Desert Sunlight projects. “We closed 2014 with strong execution across all fronts,” said Jim Hughes, CEO of First Solar. “We have exceeded the earnings per share, operating cash flow and bookings targets that we set at our 2014 Analyst Day. In addition we have announced another new record cell efficiency. With our strong bookings we are well positioned as we enter 2015 and remain focused on executing to our strategy.” Additionally, the Company announced yesterday that it is in advanced negotiations to form a joint YieldCo vehicle with SunPower Corp. into which each company expects to contribute a portfolio of selected solar generation assets from their existing portfolio of assets. Additional details about the joint venture will be provided when they become available.

The Company also provided guidance for the first quarter of 2015 as follows: •

Net Sales of $550 to $650 million

•

Loss of ($0.25) to ($0.35) per fully diluted share

•

Cash used in operating activities of ($400) to ($500) million

Financial guidance for revenue, earnings, and operating cash flow for the first quarter is lower relative to results in prior periods primarily due to the completion of the Desert Sunlight and Topaz projects and the retention of projects on balance sheet in relation to the announced plan to pursue a joint YieldCo vehicle with SunPower. This is also expected to weigh on financial results in future quarters over the nearterm. However, the Company believes this strategy will generate significant value for shareholders over the long-term.

The Company reported a fourth quarter GAAP earnings per fully diluted share of $1.89, compared to earnings of $0.87 in the prior quarter. The increase in net income compared to the prior quarter was due to higher profit from the sale of the Solar Gen 2 project and project cost improvements. Cash and marketable securities at the end of the fourth quarter were approximately $2.0 billion, an increase of approximately $876 million compared to the prior quarter. Cash flows from operations were $928

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Feb-Mar 2015

QUARTER RESULT S

First Solar: “2014 Closed With Strong Execution Across All Fronts”

QUARTER RESULT S

JA Solar: “China Market Was As Strong As Expected, As Developers And Utilities Rushed To Meet Aggressive Government-Directed Goals For The Year” Saumya Bansal Gupta - EQ International

Fourth Quarter 2014 Highlights • Total shipments were 952.7 MW, increases of +43.2% y/y and +21.3% sequentially • Shipments of modules and module tolling were 879.6 MW, increases of +142.1% y/y and +26.8% sequentially • Shipments of cells and cell tolling were 73.1 MW, decreases of 75.8% y/y and 20.5% sequentially • Net revenue was RMB 3.6 billion ($576.4 million), an increase of +65.3% y/y and +18.4% sequentially • Gross margin was 15.5%, remained unchanged y/y and an increase of 50 basis points sequentially • Operating profit was RMB 222.4 million ($35.8 million), compared to RMB 58.9 million ($9.5 million) in the fourth quarter of 2013, and RMB 189.6 million ($30.6 million) in the third quarter of 2014 • Net income was RMB 166.1 million ($26.8 million), compared to RMB 139.5 million ($22.5 million) in the fourth quarter of 2013, and RMB 155.4 million ($25.0 million) in the third quarter of 2014 • Earnings per diluted ADS were RMB 2.55 ($0.41), compared to RMB 1.92 ($0.31) in the fourth quarter of 2013, and remained unchanged from the third

Feb-Mar 2015

quarter of 2014

• Net income was RMB 446.7 million ($72.0 million), compared to a net loss of RMB 426.5 million ($68.7 million)

• Cash and cash equivalents were RMB

in fiscal year 2013

2.2 billion ($347.3 million), an increase of RMB 439.7million ($70.9 million) during the quarter

• Earnings per diluted ADS was RMB 6.88 ($1.11), compared to a loss per diluted ADS of RMB 11.76 ($1.89) in

• Operating cash flow was positive

fiscal year 2013

RMB 158.5 million ($25.5 million), compared to negative RMB 184.1 million ($30.0 million) in the third

• Cash and cash equivalents at the end of the fiscal year were RMB 2.2 billion

quarter of 2014

($347.3 million), compared with RMB 2.1 billion ($341.6 million) at the end

• Non-GAAP earnings1 per diluted ADS

of fiscal year 2013

were RMB 1.74 ($0.28), compared to RMB 0.94 ($0.15) in the fourth quarter of 2013, and RMB 1.30 ($0.21) in the third quarter of 2014

Fiscal Year 2014 Highlights • Shipments grew to approximately 3.1 GW consisting of 2,406.8 MW of modules and module tolling and 651.1 MW of cells and cell tolling, an increase of 47.6% from 2.1 GW in fiscal year 2013 • Net revenue was RMB 11.3 billion ($1.8 billion), compared to net revenue of RMB 7.2 billion ($1.2 billion) in fiscal year 2013 • Gross margin was 15.6%, compared to 10.6% in fiscal year 2013

•

Operating cash flow was positive RMB 526.2 million ($84.8 million), compared to operating cash flow of positive RMB 1.5 billion ($236.1 million) in fiscal year 2013

• Non-GAAP net income attributable to the Company’s ordinary shareholders was RMB 349.8 million ($56.4 million), compared to a non-GAAP net loss attributable to the Company’s ordinary shareholders of RMB 378.2 million ($61.0 million) in fiscal year 2013 • Non-GAAP earnings per diluted ADS in fiscal year 2014 was RMB 5.45 ($0.88), compared to a non-GAAP loss per diluted ADS of RMB 9.39 ($1.51) in fiscal year 2013

• Operating profit was RMB 662.5 million ($106.8 million), compared to

Mr. Baofang Jin, chairman and CEO

an operating loss of RMB 91.3 million

of JA Solar, commented, “Our results in

($14.7 million) in fiscal year 2013

Q4 confirm the visibility we had coming into the quarter. Demand in the China

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market was as strong as expected, as

decision to shift our product mix to more

developers and utilities rushed to meet

profitable modules and better geographies

aggressive government-directed goals for

paid off, with gross profit more than doubling

the year. We started the quarter with all

as our gross margin expanded by 500 basis

of our capacity booked, and demonstrated

points. We continued to invest heavily in

excellent manufacturing execution to fill

R&D, increasing this expense by 58%, but

orders, resulting in a shipment growth of

held other operating expenses under control,

43% year-over-year and 21% sequentially.

resulting in solid operating and net margins.

We executed at the margin level too,

Our intention in 2015 is to sustain this track

with product and geographic mix drive

record of rapid growth and high profitability.

sequentially higher gross margin. Filling

“With profitability restored and our

capacity as we grow enabled us to show

intended mix shift to modules complete,

steady bottom line improvement. We grew

our focus now turns to important initiatives

non-GAAP earnings per ADS by 34%

that will drive the next leg of growth. In

sequentially and 85% year over year.

particular, we are enthusiastic about

For the first quarter of 2015, the

expanding sales into new, underpenetrated

Company expects total cell and module

geographies such as North America, South

shipments to be in the range of 680 MW

America, and India. We expect to sustain

to 750 MW. Full year 2015 shipments are

our technology leadership with record new

expected to be in the range of 3.6 GW to

efficiencies in our Recium and Percium cells.

4.0 GW, including 200 MW to 300 MW

And we intend to accelerate our downstream

of modules shipments to the Company’s

project development segment by more than

downstream projects.

“These strong results capped a year of achievement for JA, in which we solidified our position as a leader within the top tier of solar equipment producers. We expect our revenue growth rate of 57% to be among the highest in the industry. Our strategic

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doubling our planned installations this year.

“We are optimistic and confident about the future for JA Solar. We have established our industry leadership in many ways, whether it be the talent and hard work of our employees, or the strength of our customer relationships. We expect our leadership position to drive outstanding results in the year ahead, creating success for our customers, shareholders, and employees.”

Business Outlook

Feb-Mar 2015

QUARTER RESULT S

Jinko Solar: “Closed The Year On A Very Strong Note And Expects 2015 To Be More Successful” Saumya Bansal Gupta - EQ International •

Total solar product shipments to

with income from operations of

and RMB6.12 (US$1.00), respectively,

the third parties amounted to 838.2

RMB239.9 million in the third quarter

in the fourth quarter of 2014.

MW consisting of 739.2 MW of solar

of 2014 and income from operations of

modules, 53.1 MW of silicon wafers and

RMB262.3 million in the fourth quarter

45.9 MW of solar cells. This represents

of 2013.

an increase of 18.4% from 708.2 MW in the third quarter of 2014 and an

•

• •

2,943.6 MW, which include 520.4

increase of 43.0% from 586.3 MW in

Holding Co., Ltd.’s ordinary shareholders

MW to be used in the Company’s

the fourth quarter of 2013. Total solar

was RMB244.7 million (US$39.4

downstream solar power projects.

module shipments were 1,078.3 MW,

million), compared with net income

which includes 339.1 MW to be used in

attributable to JinkoSolar Holding

the Company’s downstream projects.

Co., Ltd.’s ordinary shareholders of

third parties for the full year 2014

RMB280.6 million in the third quarter

reached a record high of 2,787.1

As of December 31, 2014, the Company

of 2014 and net income attributable to

MW, consisting of 2,423.2 MW of

has connected a total of 502.6 MW of

JinkoSolar Holding Co., Ltd.’s ordinary

solar modules, 229.6 MW of silicon

solar power projects to the grid.

shareholders of RMB164.3 million in

wafers and 134.3 MW of solar cells,

the fourth quarter of 2013.

an increase of 44.2% from 1,933.1

•

Total revenues were RMB2.97 billion Diluted earnings per American

increase of 16.0% from the third

depositary share (“ADS”) were

quarter of 2014 and an increase of

RMB3.12 (US$0.52), compared with

has connected 502.6 MW of solar

35.8% from the fourth quarter of

diluted earnings per ADS of RMB8.00

power projects to the grid.

2013.

in the third quarter of 2014 and diluted

•

(US$13.0 million), representing an

•

Total revenues were RMB9.98 billion 2014, an increase of 41.0% from RMB7.08 billion for the full year 2013.

Non-GAAP net income attributable

increase of 68.6% over the third

to JinkoSolar Holding Co., Ltd.’s

quarter of 2014. In the third quarter,

ordinary shareholders in the fourth

the Company reversed the revenue of

quarter of 2014 was RMB237.1 million

RMB19.6 million related to the value-

(US$38.2 million), compared with

added tax of feed-in-tariffs. Electricity

non-GAAP net income attributable

revenues from solar power projects,

to JinkoSolar Holding Co., Ltd.’s

excluding the effect of value-added

ordinary shareholders of RMB342.0

tax, representing an increase of 19.5%

million in the third quarter of 2014 and

year 2014, compared with 20.3% for

over the third quarter of 2014.

non-GAAP net income attributable to

the full year 2013.

Gross margin was 22.8%, compared

JinkoSolar Holding Co., Ltd.’s ordinary

with 20.6% in the third quarter of

shareholders of RMB228.6 million in

2014 and 24.7% in the fourth quarter

the fourth quarter of 2013.

of 2013. Income from operations was RMB236.6 million (US$38.1 million), compared 66

As of December 31, 2014, the Company

(US$1.61 billion) for the full year

fourth quarter of 2013.

Electricity revenues from solar power projects were RMB80.4 million

•

Total solar product shipments to the

MW for the full year 2013. •

earnings per ADS of RMB5.88 in the

•

Total solar module shipments were

Net income attributable to JinkoSolar

(US$478.9 million), representing an

•

Full Year 2014 Highlights

Feb-Mar 2015

•

Non-GAAP basic and diluted earnings

•

Electricity revenues generated from solar power projects were RMB237.6 million (US$38.3 million), representing a 209.7% increase from RMB76.7 million in 2013.

•

Gross margin was 22.4% for the full

Income from operations was RMB931.6 million (US$150.1 million), compared with income from operations of RMB645.5 in the full year 2013.

per ADS were RMB7.64 (US$1.24)

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•

Net income attributable to JinkoSolar

reached US$478.9 million, representing an

presence as global solar demand in 2015 is

Holding Co., Ltd.’s ordinar y

increase of 35.8% over the same period in

expected to grow by 15-20% despite low

shareholders was RMB673.0 million

2013 as module shipments reached a record

oil prices. The price of oil, we believe, has a

(US$108.5 million) for the full year

high of 1,078.3 MW which includes 339.1

limited impact on solar fundamentals as it is

2014, compared with a net income

MW designated for our own downstream

primarily used for transportation rather than

of RMB188.0 million for the full year

business. Full year solar module shipments

power generation in most of the key solar

2013.

also reached a record high of 2,943.6 MW,

markets. And it is important to remember

which includes 520.4 MW used in our

that mounting concern over the environment

Diluted earnings per ADS for the full

downstream projects. Revenue streams

has been one of the driving factors behind

year 2014 was RMB15.44 (US$2.48),

expanded as costs continued to improve

increased solar demand in many key markets,

compared with diluted earnings per

allowing us to achieve over US$100 million

China in particular.”

ADS of RMB7.84 for the full year

in net income for the year. Our rapidly

2013.

growing downstream business, expanding

“While the preliminary results of adjustments

geographic presence and industry-leading

from the US Department of Commerce on

Non-GAAP net income attributable to

products will continue to support our growth

the 2012 Trade Case were positive, we

JinkoSolar Holding Co., Ltd.’s ordinary

as we work towards our goal of transforming

remain focused on further diversifying

shareholders for the full year 2014 was

into a one-stop energy solutions provider.”

our production capacity geographically by establishing overseas production facilities for

RMB800.2 million (US$129.0 million), compared with non-GAAP net income

“Our downstream business continued to

both cells and modules in regions unaffected

attributable to JinkoSolar Holding

gain momentum with electricity revenues

by the frequent solar trade disputes. By

Co., Ltd.’s ordinary shareholders of

from solar power projects reaching

managing our resources efficiently, we aim

RMB432.3 million for the full year

RMB80.4 million in the fourth quarter of

to strengthen our position as the leading

2013.

2014, representing an increase of 68.6%

solar product supplier in key solar markets.”

sequentially. 270 MW of projects were •

Non-GAAP basic and diluted earnings

completed during the quarter of which 150

“We achieved new heights of module

per ADS for the full year 2014 were

MW were connected to the grid. This brings

power output in February 2015 where

RMB26.04 (US$4.20) and RMB20.8

the total capacity of connected JinkoSolar

independent testing conducted by TUV

power projects to 503 MW. While the

Rheinland’s Shanghai Testing Center showed

number of MW connected to the grid is

that the power output of JinkoSolar’s ‘Eagle

lower than we initially anticipated due to

+’ 60-cell multi PV modules reached 334.5

a cold winter and a slower grid connection

watts - a new record that broke the previous

process at the end of the year, we expect to

record of 306.9 watts also set by us in

make up for it by connecting approximately

December 2014. We are also dedicated to

360 MW of projects during the first half

developing integrated intelligent solutions by

of 2015. As our pipeline expands and the

providing smart modules to Japan’s largest

number of projects connected to the grid

smart component PV project.”

(US$3.36), respectively. Mr. Kangping Chen, JinkoSolar’s Chief Executive Officer commented, “We closed

grows, management continues to move the spin-off process forward in a way

“We accomplished a lot in 2014 by

out the year on a very strong note. Total

that will maximize shareholder value.”

leveraging our industry leading technology,

revenues during the fourth quarter of 2014

“We continue to diversify our market

global presence and deep relationships with

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Feb-Mar 2015

financial institutions to grow our business

of US$225 million in the Company’s

160 MW to 180 MW for its own downstream

further. I am confident that 2015 will be an

downstream solar power project

projects. Revenues will not be recognized for

even more successful year for us.”

business.

the modules shipped to its own downstream

Recent Business Developments

projects as required by U.S. GAAP. •

In November 2014, JinkoSolar signed an agreement to supply 7 MW to Almacen Sustentable in Mexico.

•

For the full year 2015, the Company estimates total solar module shipments to be in the range of 3.3 GW and 3.8 GW which

In November 2014, JinkoSolar supplied In December 2014, JinkoSolar supplied

includes 2.7 GW to 3GW module shipments

resistant solar modules to DMM, a

21.4 MW of solar PV modules to

to third parties. Full year newly-added solar

Japanese digital content distributor

Harsha Abakus Solar Pvt. Ltd., a

power project development scale is expected

and solar installation company, for a

solar energy solutions provider and a

to be in the range of 600 MW to 800 MW.

ground mounted solar PV project in

subsidiary of Harsha Engineers Group,

Mie Prefecture, Japan.

for a ground mounted solar PV project

5 MW of highly efficient, salt and mist

•

in Gujarat, India. •

In November 2014, JinkoSolar (U.S.) INC. signed a USD$20 million two-year

•

In December 2014, JinkoSolar supplied

credit agreement with Wells Fargo

80 MW of solar PV modules to China

Bank, National Association which will

General Nuclear Power Group for a

used to support working capital and

solar PV project in Neihuang County,

business operations in the US.

Henan Province.

In November 2014, JinkoSolar closed

Business Outlook for the First

preferred share issuance to a group of

Quarter and Full Year 2015 Guidance

private equity investors led by China

Development Bank International

For the first quarter of 2015, the

and the Macquarie Greater China

Company estimates total solar module

Infrastructure Fund, a fund managed

shipments to be in the range of 710 MW to

by Macquarie Infrastructure and

780 MW, which includes 550 MW to 600

Real Assets, of an aggregate amount

MW module shipments to third parties and

Feb-Mar 2015

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Saumya Bansal Gupta - EQ International

Fourth Quarter 2014 Highlights •

•

Total solar module shipments were 488.4 megawatts (“MW”), exceeding previous guidance and representing an increase of 5.7% from Q3 2014. Total solar wafer and module shipments in Q4 2014 were 744.3 MW, representing an increase of 12.1% from 663.9MW in Q3 2014, and a decrease of 5.1% from 784.1MW in Q4 2013. Net revenues were US$387.0 million, representing an increase of 3.9% from US$372.5 million in Q3 2014, and a decrease of 11.8% from US$438.8 million in Q4 2013. Gross profit was US$51.2 million with a gross margin of 13.2%, compared to gross profit of US$57.1 million with a gross margin of 15.3% in Q3 2014, and gross profit of US$49.7 million with a gross margin of 11.3% in Q4 2013. Operating loss was US$2.2 million with an operating margin of negative 0.6%, compared to an operating income of US$8.5 million with an operating margin of 2.3% in Q3 2014, and an operating income of US$8.8 million with an operating margin of 2% in Q4 2013. Net loss attributable to holders of ordinary shares was US$8.1 million, representing basic and diluted loss per share of US$0.04 and basic and diluted loss per American depositary share (“ADS”) of US$0.08. Cash and cash equivalents plus restricted cash totaled $221.7 million as of the end of Q4 2014, compared to US$196.7 million as of the end of Q3 2014, and US$348.9 million as of the end of Q4 2013.

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•

Net cash inflow from operating activities was US$48.8 million compared to net cash outflow from operating activities of US$10.7 million in Q3 2014, and net cash outflow from operating activities of US$29.5 million in Q4 2013.

for shipments and met our gross margin

Full Year 2014 Highlights

services and downstream projects,” said

•

Total solar module shipments were 1,970.3 MW, representing an increase of 14.0% from 1,728.8 MW for full year 2013. Total solar wafer and module shipments were 2,816.4 MW, representing a decrease of 10.5% from 3,146.5 MW for full year 2013.

•

Net revenues were US$1,561.5 million, an increase of 2.8% from US$1,519.6 million in 2013.

•

Gross profit was US$209.3 million with a gross margin of 13.4%, compared to a gross profit of US$113.1 million with a gross margin of 7.4% in 2013.

•

Operating income was US$8.2 million with an operating margin of 0.5%, compared to an operating loss of US$222.1 million with an operating margin of negative 14.6% in 2013.

•

Net loss attributable to holders of ordinary shares was US$33.6 million, representing basic and diluted loss per share of US$0.17 and basic and diluted loss per ADS of US$0.33.

•

Net cash outflow from operating activities was US$114.8 million, compared to net cash inflow from operating activities of US$118.6 million in 2013. “In the fourth quarter of 2014, we

exceeded our fourth quarter guidance

guidance despite continued challenges from the macro economy, including foreign exchange volatility. We also continued to implement our strategy of shifting the focus of our business to retail-oriented and commercial customers with bundled Mr. Xianshou Li, ReneSola’s chief executive officer. “Due to the flexible nature of our global manufacturing network, we were able to rebalance our geographic mix by reducing our exposure in euro-denominated markets and shifting towards dollar-based and other non-euro markets during the fourth quarter. Our customer base has increased to 2,546 as we provided more renewable energy products and services to smaller- sized customers, representing a client pool that we expect to yield additional cross-selling opportunities for our products and services.” Mr. Daniel K. Lee, ReneSola’s chief financial officer, said, “In line with our prudent approach to business expansion, we continue to improve our financial metrics including enhancing our cash position and reducing our long-term liabilities. During the fourth quarter, we reduced our longterm debt and convertible notes by $13.2 million and $17.0 million, respectively. Also, our operating cash flow was positive during the fourth quarter. We will strive to further improve our financial position as we expand and diversify our business worldwide.”

Research and Development During Q4 2014, ReneSola continued to invest in the development of new technologies and to increase the efficiency of its current range of solar products.

Wafers and Modules The Company successfully upgraded the processing technology of its A+++ wafer.

Feb-Mar 2015

QUARTER RESULT S

Renesola: “Exceeded The Fourth Quarter Guidance”

While maintaining the same average

insulation performance.

efficiency of 17.8%, the wafer’s processing cost was reduced by 4%.

The Company’s LED lighting tubes include rotatable end cap designs for

The Company’s 275W (60-Cell) and 330W (72-Cell) polycrystalline module has been completed and will enter

1/2 aluminum and 1/2 plastic tubes,

mass production soon. The average

of which are now available worldwide.

power output of the Company’s module products has been further improved: the lower-limit module product was upgraded to 255W (60-Cell) and 305W (72-Cell). The certification process is underway for the Company’s double-glass module with 1500V maximum system voltage, which is expected to enter production soon.

1/3 aluminum and 2/3 plastic tube, full plastic tubes, and glass tubes, all The Company continues to obtain certifications across different continents for its LED products, including LED bulbs and spotlights. The Company’s first batch of LED lighting products was shipped to customers in January 2015, with additional shipments scheduled to start from March 2015. For European and North American markets, the Company launched its

Inverter

LED High Bay featuring high brightness

The Company’s new 300W micro inverter is now in trial production and undergoing onsite project testing. Related certifications have been obtained in several key markets in North America and Europe. The first batch of related products is expected to enter the market soon. The Company continues to obtain applicable certification for its string inverters across several international markets: TLE series with VDE4105, VDE V 0126, AS4777, and G83 certifications are now eligible for sale in Germany, the United Kingdom, and Australia. TLA series with MEA and PEA credentials are available in Thailand. TLB U.S. series now feature AFCI functions.

SMD chips. CB certification was obtained in late February 2015 for such product and the product will be available for order soon.

Outlook For Q1 2015, the Company expects its net revenue to be in the range of US$360 million to US$380 million, and gross margin to be in the range of 14% to 16%. For full year 2015, the Company expects its net revenue to be in the range of US$1.5 billion to US$1.6 billion. For year 2015, the Company does not have any plans for internal capacity expansion.

The Company’s innovative 5KW hybrid inverter has now received applicable certification and is in trial production.

LED The Company recently launched its range of LED bulb products with plastic-coated aluminum material. The material compared to traditional aluminum heat dissipation bodies is more cost competitive with outstanding

Feb-Mar 2015

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Saumya Bansal Gupta - EQ International Trina Solar Limited, a global leader in photovoltaic modules, solutions, and services, announced its unaudited financial results for the fourth quarter and full year of 2014. Fourth Quarter 2014 Financial and Operating Highlights • Total module shipments were 1,098.8 MW, consisting of 1,070.5 MW of external shipments and 28.3 MW of

shipments to the Company’s own downstream power projects. • Net revenues were $705.0 million, an increase of 14.3% from the third quarter of 2014 • Gross profit was $111.0 million, an increase of 8.0% from the third quarter of 2014 • Gross margin was 15.7%, compared with 16.7% in the third quarter of 2014 • Operating income was $30.5 million, a decrease of 14.4% from the third quarter of 2014 •

Net income was $13.9 million, an

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increase of 31.5% from the third quarter of 2014

• Gross margin was 16.9%, compared with 12.3% in 2013

• Net income excluding the net foreign exchange loss was $21.5 million. Net foreign currency exchange loss was $7.6 million, which included a gain on change in fair value of foreign exchange derivative instruments of $1.7 million

• Operating income was $120.1 million, compared with an operating loss of $38.1 million in 2013.

•

• Net income for the full year was $61.3 million, compared with a net loss of $72.2 million for 2013

Earnings per fully diluted American

Depositary Share (“ADS” and each ADS represents 50 of the Company’s ordinary shares) were $0.13, compared with $0.14 in the third quarter of 2014. Excluding net foreign exchange loss, earnings per ADS was $0.21 Full Year 2014 Financial and Operating Highlights • Total solar module shipments were approximately 3.66 GW, an increase of 41.9% from 2.58 GW in 2013

• Total net revenues were $2.29 billion, an increase of 28.8% from 2013 • Gross profit was $385.6 million, an increase of 76.7% from 2013

• Earnings per fully diluted ADS for 2014 were $0.74, compared with a loss per fully diluted ADS of $1.01 in 2013 “We are pleased with our solid performance in the fourth quarter. We saw record shipment volumes, maintained our leading position as one of the largest solar companies in the world, and continued to increase our earnings quarter to quarter,” said Mr. Jifan Gao, Chairman and CEO of Trina Solar.

“We also made significant progress in our downstream business. We connected two utility scale solar power plants totaling 210 MW in Xinjiang and Jiangsu provinces, and both are generating electricity. Our project pipeline in China is expanding and

Feb-Mar 2015

QUARTER RESULT S

Trina Solar: “2014 Was A Successful Year As It Took Advantage Of The Rapidly Growing Demand In China, As Well As The Expansion Of Sales Across Various Asia-Pacific And Americas Markets”

we are growing our downstream business at a steady pace. Overseas, we closed the sale of a 13.2 MW project in the UK in December 2014. The cash generated by the sale of the project will provide additional capital for the expansion of our downstream businesses. We expect our growing portfolio of overseas projects in the UK and Japan that we expect to sell upon completion to further contribute to our downstream business expansion in 2015. “In the second half of 2014, we strengthened our focuses on developing distributed generation (“DG”) projects in China. We have completed a number of projects and we will leverage our experience in developing utility scale projects and our module sales channels to further tap into the DG market and bolster our current downstream pipeline in China in 2015. “In addition, we continued to deliver impressive new product innovations in solar cell technology. Our deep commitment to R&D and to delivering high quality products ensures our leading position in the very competitive and highly regulated PV industry. Our proven track record for superior quality, innovation, and efficient execution in the manufacturing sector positions us well as we build our company into a major developer and operator of solar projects. “Overall, 2014 was a successful year for Trina Solar. Both our manufacturing and downstream businesses delivered strong results, and we emerged as the world’s largest supplier of solar modules. We took advantage of the rapidly growing demand in China, the world’s largest market for solar products, as well as the expansion of sales across various Asia-Pacific and Americas markets. We were also able to mitigate the industry trend of declining average sales

Feb-Mar 2015

prices (“ASPs”) without compromising product quality by re-engineering our manufacturing processes and supply chain to drive down costs and by growing our portfolio of downstream projects to increase profitability. “In 2015, we believe that our focus on technological innovation and delivering the highest quality and diversified module portfolio will drive growth in an expanding market. We will continue to build world-class capabilities and align our global resources to reinforce our leading position in the module business while exploring the utility, DG and other downstream markets.”

Full Year 2014 Results Total module shipments were 3.66 GW, consisting of 3.34 GW of external shipments and 324 MW of shipments to the Company’s downstream power projects, an increase of 41.9% from 2.58 GW in 2013, primarily driven by strong demand from China, Japan and the U.S. Net revenues were $2.29 billion, an increase of 28.8% from $1.77 billion in 2013. Gross profit was $385.6 million, an increase of 76.7% from $218.2 million in 2013. Overall gross margin was 16.9%, compared with 12.3% in 2013. The gross margin expansion in 2014 was primarily due to faster reduction in manufacturing costs compared with the general decline in ASP and increased sales of downstream solar projects further improve gross margins. Operating profit was $120.1 million, compared with a loss of $38.1 million in 2013. Operating margin was 5.3%, compared with negative 2.1% in 2013. Net income was $61.3 million, compared with a net loss of $72.2 million in 2013. Net margin was 2.7%, compared with negative

4.1% in 2013. Earnings per fully-diluted ADS were $0.74, compared with a loss per fully diluted ADS of $1.01 for 2013.

First Quarter and Fiscal Year 2015 Guidance First Quarter of 2015 Guidance The Company expects to ship between 840 MW to 870 MW of PV modules, of which 60 MW to 70 MW of PV modules will be shipped to the Company’s downstream

PV projects.

Fiscal Year 2015 Guidance The Company expects to achieve annualized capacity at the end of 2015: •Ingot production capacity of approximately 2.8 GW •Wafer capacity of approximately 2.3 GW •PV cell capacity of approximately 3.5 GW •Module capacity of approximately 4.8 GW The addition of 500 MW cell and 800 MW of module capacity in 2015 will partially come from the low-cost overseas manufacturing facilities that the Company is planning to build or jointly build with local partners in select countries outside of China. The addition of wafer and ingot capacity increase mainly come from equipment

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update and technology advancement as well as working with domestic partners. The Company expects total PV module shipments between 4.4 GW and 4.6 GW, of which 700 MW to 800 MW of PV modules will be shipped to the Company’s downstream projects. The total shipment volume represents an increase of 20% to 26 % from 2014.

The Company expects to connect to the grid of 700 MW and 750 MW of downstream PV power projects across the world, including 30%-40% of DG projects in China.

Operations and Business Updates

• Module capacity of approximately 4.0 GW

2014 Manufacturing Capacity

Project Development

As of December 31, 2014, the Company had annualized:

In 2014, the Company completed construction of 337 MW solar power projects consisting of 324 MW of utility projects and 13 MW of EPC for DG projects. As of March 2015, the Company has a total of 232 MW solar power projects under operation, of which 22 MW are overseas and 210 MW are in China.

• In-house ingot production capacity of approximately 2.2 GW • Wafer capacity of approximately 1.7 GW • PV cell capacity of approximately 3.0 GW

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Feb-Mar 2015

QUARTER RESULT S

Advanced Energy: “Ended 2014 With A Strong Quarter” Saumya Bansal Gupta - EQ International • Revenue of $153 million • GAAP earnings of $0.23 per diluted share • Non-GAAP earnings of $0.50 per diluted share • Ended quarter with $128 million in cash Advanced Energy Industries, Inc. announced financial results for the fourth quarter ended December 31, 2014. The company reported fourth quarter sales of $152.7 million compared with $143.1 million in the third quarter of 2014 and $152.6 million in the fourth quarter of 2013. Net income was $9.3 million or $0.23 per diluted share. On a non-GAAP basis, adjusted net income was $20.6 million or $0.50 per diluted share. A reconciliation of non-GAAP net income and earnings per share is provided in the tables below. The company ended the quarter with $128.4 million in cash and marketable securities, a sequential increase of $22.6 million. “We ended 2014 with a strong quarter,” said Yuval Wasserman, President and CEO of Advanced Energy. “Our investment in new semiconductor products targeting key technology inflection points is enabling accelerated growth in existing and new

are well positioned for 2015.”

Precision Power Products Precision Power Products sales were $105.9 million in the fourth quarter of 2014, a 16.1% increase from $91.2 million in the third quarter of 2014 and a 20.8% increase from $87.6 million in the fourth quarter of 2013. This was driven by a record quarter in semiconductor sales and a recovery in our industrial applications.

Inverters Inverter sales were $46.8 million in the fourth quarter of 2014, down 9.8% from $52.0 million in the third quarter of 2014, and down 27.9% from $64.9 million in the fourth quarter of 2013. The solar inverter business was impacted by a number of macroeconomic factors including economic weakness in Europe, pricing pressure,

changes in currency exchange rate and increased competition.

Net Income Net income for the fourth quarter of 2014 was $9.3 million or $0.23 per diluted share, compared with net income of $12.3 million or $0.30 per diluted share in the third quarter of 2014, and $34.4 million or $0.83 per diluted share in the fourth quarter last year. On a non-GAAP basis adjusted net income this quarter increased to $20.6 million or $0.50 per diluted share from $16.9 million or $0.42 per diluted share in the third quarter of 2014, and decreased from $27.8 million or $0.67 per diluted share in the same period last year.

First Quarter 2015 Guidance Based on the company’s current view, guidance for the first quarter of 2015 is within the following ranges: • Sales of $137 million to $147 million • GAAP earnings per share of $0.32 to $0.40 • Non-GAAP earnings per share of $0.38 to $0.46

applications, and drove record revenues for the quarter. Having made three strategic acquisitions in the last 12 months, we have entered several new and adjacent industrial markets, expanding our total available market and increasing our diversification. We are in the process of evaluating strategic alternatives for our solar inverter business given some of the near-term challenges facing the industry. With a strong pipeline of opportunities and choices for our business, we believe that we

Feb-Mar 2015

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Saumya Bansal Gupta - EQ International China Sunergy Co., Ltd. a specialized solar cell and module manufacturer announced its financial results for the second quarter ended June 30, 2014.

Second Quarter 2014 Financial Highlights • Total revenue was US$88.5 million, an increase of 41.0% from US$62.7 million in the first quarter of 2014. Selfbranded revenue totaled US$80.8 million and OEM revenue was US$6.4 million. • Shipments totaled 184.5MW, an increase of 31.6% (44.3MW) from 140.2MW in the first quarter of 2014. Module shipments, including module processed under OEM arrangement of 27.0MW, were 135.6MW. Cell shipments, including cell processed under OEM arrangements of 21.2MW, were 48.9MW. • Average selling price (“ASP”) for the Company’s solar modules, excluding those processed under OEM arrangements, was US$0.66 per watt, unchanged from that of the previous quarter. • Gross profit was US$5.5 million on gross margin of 6.2%, compared with US$2.3 million on gross margin of 3.7% in the first quarter of 2014. Non-GAAP gross profit was US$7.2 million, and non-GAAP gross margin was 8.1%. • Net loss attributable to ordinary shareholders was US$5.7 million, an improvement from US$14.7 million in the first quarter of 2014. Non-GAAP net loss attributable to ordinary shareholders was US$0.8 million. • Net loss attributable to ordinary shareholders per ADS was US$0.39, an improvement from US$0.99 in the first quarter of 2014. Non-GAAP net loss attributable to ordinary shareholders per ADS was US$0.05. •

Cash, cash equivalents and

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restricted cash totaled US$232.7 million, as of June 30, 2014. Mr. Tingxiu Lu, Chairman and CEO of China Sunergy, commented, “We are pleased that our global manufacturing base, sales network and leading technology enabled us to capture opportunities in both Europe and Asia, driving strong sequential shipment growth and higher gross margin in the second quarter of 2014. Reflecting the solid second quarter results, we remain comfortable in achieving our previously-stated full-year 2014 total shipment estimates of 750 MW to 800 MW.” “Since my return in September 2014, we have taken many steps to improve operations, including the appointment of our new auditor in December, which initially required additional time to complete our quarterly financial reporting. I would like to sincerely thank our finance team and auditor for their tireless efforts in completing the second quarter’s financial reporting, which now brings the Company current in its reporting obligations. We are committed to timely completing our 2014 annual audit and aim to report our results for the second half of 2014 in April 2015.”

Total Revenue and Shipments For the second quarter of 2014, total revenue was US$88.5 million, an increase of 41.0% from US$62.7million in the first quarter of 2014. The increase in total revenue was mainly attributable to the higher shipments in the Company’s self-branded cells and module sales, while the average selling prices remained flat compared with the prior quarter. Revenue from the Company’s self-branded modules and cells business totaled US$80.8 million or 91.3% of the total revenue, while revenue from the modules and cells processed under OEM arrangements, was US$6.4 million, or for 7.2% of total revenue.

of 2014 were 184.5MW, an increase of 31.6% from 140.2MW in the prior quarter. The sequential increase in total shipment was primarily due to the higher shipments to France, China and India during the quarter. Total module shipments, including module processed under OEM arrangement of 27.0MW, were 135.6MW for the second quarter of 2014. Total cell shipments, including cell processed under OEM arrangements of 21.2MW, were 48.9MW for the second quarter of 2014. Asia continued to be the largest market for the Company, accounting for 54.7% of total revenue in the second quarter of 2014, with China, Japan and India accounting for 22.7%, 15.0% and 14.5%, respectively. Sales to European markets represented 42.4% of total revenue in the second quarter of 2014, mainly contributed by France and Germany, which contributed 30.0% and 6.6% of the total revenue, respectively.

Gross Profit and Gross Margin Gross profit for the second quarter of 2014 was US$5.5 million on gross margin of 6.2%, this compared with gross profit of US$2.3 million on gross margin of 3.7% for the first quarter of 2014. The sequential increase in gross profit and expansion of gross margin was mainly attributable to higher sales generated from the Company’s self-branded cell and modules. Excluding inventory provision of US$1.7 million, nonGAAP gross profit was US$7.2 million and non-GAAP gross margin was 8.1% in the second quarter of 2014.

Total shipments for the second quarter

Feb-Mar 2015

QUARTER RESULT S

CSun: “Global Manufacturing Base, Sales Network And Leading Technology Enabled To Capture Opportunities In Both Europe And Asia”

PRODUCTS Advanced Energy Spotlights Three-Phase String Inverters at Ecobuild 2015 Advanced Energy Industries, Inc. (Nasdaq:AEIS), a leader in precision power conversion solutions, today will highlight its AE 3TL 40/46 string inverters that feature industry-leading export limitation controls at the Ecobuild 2015 solar exhibition in London. Designed for maximum efficiency and yield, the AE 3TL 40/46 string inverters are well-suited for commercial rooftop and carport installations, as well as largescale solar parks. They offer a high DC:AC

ratio to maximize array capacity for higher energy production gains and increased profitability. In addition, AE ParkControl includes controls to help manage export limitations, which grid operators tightly regulate in the United Kingdom. AE’s CEO Yuval Wasserman stated, “From discussions with our customers in recent months, we understand that UK grid operators are placing tougher export regulations on smaller installers. Our inverters provide a simple solution with

easy-to-program limits that can match these more stringent standards in a cost-effective manner.” Power reduction via remote control, dynamic adaptation of the reactive power and power monitoring are some typical features included in the system. System operators can record and evaluate all parameters important for feed-in management, while grid operators have the ability to adapt the power of the solar plant so that the network is optimally utilised

JA Solar Launches 1500V PV Module JA Solar Holdings Co., Ltd. one of the world’s largest manufacturers of high-performance solar power products, today announced that it has completed the development of its new 1500V PV module, inaugurating the product’s global launch in February 2015. The product was featured at the PV Expo in Japan on February 25th and was met with overwhelming reception. The new module will also be featured in several upcoming exhibitions, including the Ecobuild Conference to be held in London in early March, and the SNEC PV Power Expo to be held in China at the end of April. The current IEC industry standard for maximum system voltage is 1000V of system voltage bias. The JA 1500V PV module has proven its performance under the IEC standard for 1500V

Feb-Mar 2015

of system voltage bias, passing the stringent PID test under its standard conditions for 1500V systems. Tested and certified by TUV, this performance is a testament to the high quality of this new product. Mr. Yong Liu, Chief Technology Officer of JA Solar, commented, “Raising the maximum system voltage to 1500V means a potential increase of up to 50% in string length, reducing costs on the system side. It is an inevitable trend that 1500V systems would begin to be installed on a global scale. Our new 1500V PV module is further testament to JA’s competitive advantage as a leader in industrial PV technology

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PRODUCTS Fronius Modernises Photovoltaics Systems Fronius International GmbH is offering PV system owners a simple modernisation solution. Old inverters, including ones from other manufacturers, can easily be replaced with Fronius devices. This increases the PV system’s performance and brings it up to date with the latest technological standards.

After years of use, technically complex

Fronius inverters provide the best conditions for repowering Fronius offers both single and threephase inverters, while the carefully compiled product portfolio leaves nothing to be desired in a repowering solution. Whether the existing unit contains a transformer or not is also completely irrelevant.

inverters may fail or suffer from defects. “Many system owners do not receive the levels of service they need because the relevant inverter manufacturer no longer exists. Fronius has sought - and found the solution. Our inverters are ideal for repowering PV systems of all sizes. We can also replace inverters from other manufacturers without high installation costs,” explains division head Martin Hackl. Even PV systems with thin-layer modules can be easily retrofitted with Fronius inverters.

New challenges require new solutions

Be it a small self-consumption system in a domestic household or a commercial field installation in the megawatt range, every type of PV system has different requirements. Fronius inverters cover the power categories from 1.5 to 100.0 kW and also feature an extremely wide input voltage window, making them the optimum repowering inverters.

Equipped for future challenges with state-of-the-art technology

Fronius inverters use state-of-theart technology. The data communication package includes data logging, WLAN, Ethernet, energy management, a web server and numerous interfaces. They are Smart Grid Ready and the Dynamic Peak Manager maximises the PV yield. Fronius inverters feature a variety of open interfaces, such as Modbus TCP SunSpec or Modbus RTU SunSpec, which guarantee a connection to third-party components during system monitoring. Future challenges can be easily overcome using the innovative plug -in c ard technology. The offline version of the Fronius Solar.configurator dimensioning tool works with almost all modules and helps you to dimension your PV systems. Upon registration, Fronius inverters come with a minimum warranty of five years, which can be extended to up to 20 years.

Fronius inverters are ideal for repowering PV systems of all sizes

The inverter is defective and the warranty has expired. The required service is not available. The PV system does not produce the expected yield. There is a high feed-in tariff and a powerful inverter could be more fitable. PV system owners are faced with a number of new challenges for which the market has few answers. A team of experts at Fronius has been studying these issues for a long time, leaving Fronius in the position to offer its customers a suitable solution.

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Feb-Mar 2015

PRODUCTS Waaree Energies Launches Beta Version Of Its First Ever Solar Power Calculator Mobile App WAAREE SOLAR CALCULATOR INSTALLATION GUIDE

aaree Energies Limited, a

Launch the google playstore on your Android phone

LEADING solar PV module

Search for ‘Waaree Solar Calculator’

manufacturer and project de-

veloper has announced the launch of its solar power calculator application (beta version) for mobile phones. This app helps you estimate the size of solar power system. It can generate a customised cost estimate for the given location with basic inputs like monthly electricity bill, units consumed, battery backup and area available. Apart from tax depreciation, it will also calculate area needed for solar array. The prices and calculations are indicative and gives the user a

Select the App

broad level indication of the probable savings and system size requirements. Once the user is interested they can contact Waaree Energies directly and the sales engineers will help them further.Solar gadgets like solar chargers, battery banks, solar bags, camping lights and Home lighting solutions can also be purchased from the app.

Feb-Mar 2015

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PRODUCTS SMA Expands Its Successful Central Inverter Family With A New 1 MW Device

ith the new Sunny Central 1000CP XT inverter, SMA Solar Technology AG (SMA) has expanded its internationally successful product portfolio of central inverters in the upper power range. This new device will especially benefit photovoltaic projects, which require 1-megawatt block bids. As part of the SMA Medium Voltage Power Station, the Sunny Central 1000CP XT inverters ensure a power output of 2 MW in the globally used turnkey container station. “The Sunny Central 1000CP XT provides engineering, procurement and construction companies (EPCs) and solar power plant developers the advantage of easy and flexible plant design for Asian MARKETS that usually plan projects in 1-megawatt generation blocks,” says

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John Susa, Executive Vice President of Asia Pacific Region at SMA. “The outdoor rating, OptiCool technology, extensive earthquake and wind speed tests as well as its highest power density in the MARKET suggest that SMA’s Sunny Central 1000CP XT truly focuses on reducing Balance of System (BOS) components, maintenance and logistical costs for any solar power plant project. Combined with the Medium Voltage Power Station this is truly a great tool for any EPC or developer in tackling costcompetitiveness and challenging timeline tenders in the Asian market.” The Medium Voltage Power Station, a complete container solution for PV power plants, MV transformer and switchgear successfully launched worldwide in 2013 have already been in global use in numerous

large photovoltaic projects. The Sunny Central 1000CP XT has the highest power density of all Sunny Central CP XT inverters at the maximum nominal power of 40°C and an output of 1.1 MW at 25°C. Furthermore, the Sunny Central 1000CP XT incorporates those proven features from the Sunny Central inverter product line that have been used with success in some of the largest photovoltaic projects throughout the world, such as the intelligent OptiCool temperature management system and outdoor installation at extreme temperatures ranging from -40°C to 62°C. This central inverter complies with all globally required grid management functions and is ready to provide reactive power around the clock.

Feb-Mar 2015

PRODUCTS Delta Launches New Single Phase Residential Inverters

he leading global provider of

maximum efficiency up to 97.5 %. Since

power and thermal management

both models feature a compact design and

solutions is now shipping its new

ship with a versatile wall mount bracket,

RPI Series single phase inverters with 4 kVA and 5 kVA power outputs.

installation is greatly simplified. For the system planner, maximum flexibility is ensured thanks to a wide input

Delt a

ha s

laun ched

two

new

transformerless models known as the RPI

voltage range of 100 – 500 V and 2 MPP trackers.

H4A and RPI H5A featuring 4 and 5 kVA

The inverters feature an innovative

power outputs respectively. The new single

heatsink design for cooling which draws

with major types of PV modules and the

phase solar inverters are designed for

the heat away from the inverter through a

robust IP65 rated enclosure allows outdoor

residential applications and feature a high

natural convection process. Because there

installation.

are no fans required, maintenance costs are reduced and audible noise is greatly reduced. Additionally, the intelligent cooling design extends the life of electronic components and increases the life of the solar Inverter. All the new inverters are compatible

The H4A and H5A models are fully compatible with Delta’s advanced monitoring system, SOLIVIA Monitor 2.0, the SOLIVIA Live app designed for smartphones and with third-party monitoring solutions from Meteocontrol and Solar Log

RenewSys Expands Its EVA Encapsulant & Backsheet Products Range RenewSys Expands Its EVA Encapsulant & Backsheet Products Range RenewSys India Pvt Ltd, a quality manufacturer of EVA Encapsulant and Backsheet for PV modules expands its EVA Encapsulant & Backsheet product range. Based at Bengaluru, India, RenewSys has acquired a major market share of EVA Encapsulants and Backsheets in India and successfully entered European markets due to its consistently high quality and innovative product development capabilities. Leveraging decades of polymer expertise and hi-tech R&D capability, the company has developed various innovative EVA Encapsulants and Backsheets during the last three years. In addition to regular encapsulants, the company has developed Ultra-Fast Cure and PID resistant encapsulants with varying UV cut-offs 80

Feb-Mar 2015

needed in the market. Its PID resistant EVA encapsulant is considered better than competitors’ as it exhibits less than 1% power loss when tested as per IEC standard. Its latest innovation is the ultra-thin encapsulant for MWT modules, developed specially for saving silver paste and thus reducing the BOM cost. The company has also developed a wide range of backsheets suiting various PV module technologies like C-Si, Thin Film, MWT. The backsheet range includes Fluoro, non-Fluoro, Aluminium and Copper foil in white and black colours.

discussion on possible partnership proposals from interested companies. The company has appointed agents in key markets like Japan and other Asian and European countries to facilitate the business. The company has its own group offices in Dubai, London and South Africa.

Keeping in line with the demand, the company is doubling its EVA Encapsulant capacity effective April ‘15. The existing backsheet capacity of the company is 1800MW. RenewSys is actively considering investing in cell-making and is open to

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Intersolar China 2015 Date: 01-03 Aprl2015 Place: Beijing, China,Intersolar Organiser: Intersolar Tel.: +49 7231 58598-218 Email: Pang@solarpromotion.com Web.: www.intersolarchina.com

4th Power & Energy Africa 2015 Energy Sri Lanka Date: 17-18Aprl2015 Place: Colombo, Sri Lanka Organiser: Eurasiamedia Tel.: +61 481 308 411 Email: sales@eurasiamedia.biz Web.: www.energysrilanka.com

Date: 27-29 Aprl2015 Place: Nairobi, Kenya Tel.: +971 50 6285684 Email: response@expogr.com Web.: expogr.com/kenyaenergy

SOLAREXPO 2015 Date : 08-10Aprl2015 Place : Milan, Italy Tel.: +39 0439 849855 Email: press@innovationcloud-expo.com Web.: www.solarexpo.com/eng

SNEC Solar & Off-grid Renewables West Africa

Date: 28-30Aprl2015 Place: China, Shanghai, Organiser: SNEC Tel.: +86 21 33561095-803 Email: teresa.wen@snec.org.cn Web.:www.snec.org.cn

Date: 21-22Aprl2015 Place: Accra, Ghana Organiser: Solarmedia Tel.: +44 20 78710122 Email: sbradshaw@solarmedia.co.uk Web.: westafrica.solarenergyevents.com

Intersolar Summit USA East 2015 EnergyMed 2015 Date : 09-11Aprl2015 Place : Napoli, Italy Organiser: Energymed Tel.: +39 081 419528 Email: info@energymed.it Web.: www.energymed.it

Green Summit 2015

Power Purchase Agreement 2015

6th International Exhibition for Renewable Energy and the Environment in Africa

Date : 13-16Aprl2015 Place : Dubai, UAE Tel.: +65 63250274 Email: reanne.lee@infocusinternational.com Web.: infocusinternational.com/ppa

Date: 23-25Aprl2015 Place: Bangalore, India Organiser: Greensummit

Date: 07 May2015 Place: Brooklyn, New York, USA Tel.: +49 7231 58598215 Web.: www.intersolar-summit.com/usa

Tel.: +91 9591757017 Email: enquiry@greensummit.in Web.: www.greensummit.in

The Solar Show

Asia 2015

Date: 5-8 May2015 Place: Singapore City, Singapore Date: 23-26 Aprl2015 Organiser: Terrapinn Place: Dakar, Senegal Tel.:+65 6222 8550 Tel.:+221 33 8656688 Email: enquiry.sg@terrapinn.com Email: info@sinergie-afrique.com Web.: www.terrapinn.com Web.: www.sinergie-afrique.com

2nd Annual Project Finance in Renewable Energy 2015

North India Solar Summit 2015

Date : 16-17Aprl2015 Place : Vienna, Austria Organiser: Amstadglobal Tel.: +36 1577 9119 Email: Manager.tjackson@amstadglobal.com Web.: www.amstadglobal.com

Date: 24-26 Aprl2015 Place: Lucknow, India Organiser: Niss Tel.: +91 522 2720090 Email: info@niss.org.in Web.: www.niss.org.in

Saudi Energy 2015

Date: 11-13 May2015 Place: Riyadh, Saudi Arabia Tel.: +966 11 2295604 Email: edward.rabbat@recexpo.com Web.: www.saudi-energy.com

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

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EQ International Magazine Editorial Advisory Board

K Subramanyam Former CEO Tata BP Solar

Shaji John Chief Solar Initiatives, L&T

Shivanand Nimbargi MD & CEO Green Infra Limited

Oliver. Behrendt Managing Director - REFU Solar Electronics Pvt Ltd

Ravi Khanna - CEO Solar Power Business Aditya Birla Group

Sunil Jaini Chief Exe. Off. & Exe. Director Hero Future Energies Pvt Ltd.

Gyanesh Chaudhary Managing Director Vikram Solar Private Limited

Gaurav Sood Managing Director Solairedirect Energy India Pvt Ltd

Rajesh Bhat - Managing Director juwi India Renewable Energies Pvt Ltd

Inderpreet Wadhwa CEO Azure Power

Arturo Herrero CSO Jinko Solar

Pashupathy Gopalan Managing Director MEMC-SunEdison

Himamsu Popuri CEO Nuevosol Energy Pvt. Ltd.

Paulo Soares CFO & Director Inspira Martifer Solar Ltd