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SOLAR MARKET

Another Record Breaking Year for Renewable Energy: More Renewable Energy Capacity For Less Money

IRENA GLOBAL ATLAS 3.0: Resource Data For Renewable Energy Professionals

INDIA Tata Power turns around solar business to become India’s largest integrated solar company

INDIA Vikram Solar to double capacity to 2 GW by 2020

INDIA

Adani Group commissions 50 MW UP solar plant

RENEWABLE ENERGY

The data and information presented in this magazine is provided for informational purpose only.neither EQ INTERNATINAL ,Its affiliates,Information providers nor content providers shall have any liability for investment decisions based up on or the results obtained from the information provided. Nothing contained in this magazine should be construed as a recommendation to buy or sale any securities. The facts and opinions stated in this magazine do not constitute an offer on the part of EQ International for the sale or purchase of any securities, nor any such offer intended or implied Restriction on use The material in this magazine is protected by international copyright and trademark laws. You may not modify,copy,reproduce,republish,post,transmit, or distribute any part of the magazine in any way.you may only use material for your personall,Non-Commercial use, provided you keep intact all copyright and other proprietary notices.If you want to use material for any non-personel,non commercial purpose,you need written permission from EQ International.

July 2017

SOLAR ROOFTOP ICICI Bank commissions 200 solar powered ATM sites

SOLAR ACHIEVEMENT Three Years’ Achievements And Initiatives Of The Ministries Of Power, Coal, New And Renewable Energy And Mines

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54 INTERVIEW

SOLAR MARKET U.S. Solar Market Adds 2 GW of PV in Q1 2017

ELECTRIC VEHICLES Electric Vehicles Have Another Record Year, Reaching 2 Mn Cars In 2016

INTERVIEW

RESEARCH & ANALYSIS Renewable Energy Employs 9.8 million People Worldwide, New IRENA Report Finds

With Mr.Lior Handelsman, Vice President Marketing and Product Strategy, SolarEdge

POLICY & REGULATIONS Green Bond Guidelines Notified - Key To Facilitate Investments In Renewables And Clean Energy

With Mr.Raymond Meng, General Manager (Overseas) : Business Head for all Overseas Business Units of Lightway Solar

RESEARCH & ANALYSIS IEEFA Report: State-Owned Utility NTPC Takes a Lead Role in India’s Electricity Transition

NEW ENERGY FINANCE Bloomberg New Energy Finance's Annual Longterm Economic Forecast Of the World's Power Sector

FEATURED Trina Solar’s PV Modules Operational in a 455 MW DC Solar Project developed by SB Energy

EQ NEWS Pg. 09-39 PRODUCT Pg. 64-73 SOLAR PV PHOTOVOLTAICS

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Thermography In Photovoltaic Plants

July 2017

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INDIA

Cabinet approves Raising of Bonds of Rs. 2360 crores for Renewable Energy

Azure Power Commissions 100 MW NTPC Solar Project in Andhra Pradesh

The Union Cabinet chaired by the Prime Minister has given its approval to Raising of Bonds of Rs. 2360 crores for Renewable Energy.

he Bonds will be raised by the Ministry of New & Renewable Energy (MNRE) through the Indian Renewable Energy Development Agency (IREDA) during the 2017-18. These funds will be used by MNRE in the approved programmes/ schemes for solar park, green energy corridor, generation-based incentives for wind projects, CPSU and defence solar projects, viability gap funding for solar projects, roof-top solar, off-grid/grid-distributed and decentralized renewable power, investment in corporations and autonomous bodies etc. Such timely investment would boost infrastructure in renewable sector and facilitate achievement of ambitious targets for the renewable energy sector. The resources raised would be used for developing additional capacity in renewable energy sector which would result in generation of additional employment.

Background

he Government had declared additional finance mobilization of Rs. 31,300 crore bonds through NHAI, PFC, REC, IREDA and IWAI in the budget for FYT 2016-17. As a part of this, the Government had allocated Rs. 4000 crores to IREDA to raise “GOI fully serviced taxable Bonds” on behalf of the MNRE during the FY 2016-17. Out of this allocation, IREDA had raised Rs. 1640 crores as per the requirement of MNRE. The MNRE subsequently approached the Cabinet, to approve raising of the balance Rs. 2360 crores in the year 2016-17.

Power Ministry Proposes Compensation for Grid Curtailment; Positive for Renewables

overnment has proposed a compensation mechanism for existing renewable energy projects, which will protect the cash flows to an extent from grid curtailments says India Ratings and Research (Ind-Ra). Ind-Ra believes that if the proposal is adopted this will also ensure a favourable operational environment for renewable energy projects. The proposal if adopted will be positive for wind and solar energy developers. The absence of clarity on two possible reasons for grid curtailment - ‘low system demand’ and ‘grid security’- could however pose new challenges for developers. Further clarity by the authority/utilities to define the terms and spell out when these measures will need to be opted for could allay possible apprehensions of the developers and make the process more transparent.

July 2017

Azure Power (NYSE: AZRE), a leading independent solar power producer in India, has announced that it has commissioned a 100-megawatt (MW) solar power plant in Andhra Pradesh.

roject was auctioned by NTPC, which has a AAA debt rating and is the Government of India’s largest power utility. The solar plant has been set up at Kurnool Ultra Mega Solar Park with a total capacity of 1,000 MWs. The solar park is being developed by Solar Park Implementation Agency (SPIA) and Andhra Pradesh Solar Power Corporation Limited (APSPCL). Azure Power will supply power to NTPC for 25 years at a tariff of INR 5.12 (~USD 7.9 cents) per kWh. Spread across 500 acres of land in Andhra Pradesh, the project will help in electrifying the nearby areas.

Speaking on this occasion, Mr.

Inderpreet Wadhwa, Founder and Chief Executive Officer, Azure Power said, “With the commissioning of this plant, we have once again demonstrated our strong project development, engineering, and execution capabilities. We are delighted to make a contribution towards realization of our Hon’ble Prime Minister’s commitment towards clean and green energy, through solar power generation. Our sincere gratitude to NTPC and the State of Andhra Pradesh for all the cooperation and support extended.”

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INDIA

200 MW solar projects to come up at major ports Shipping Ministry, in an effort to reduce the carbon footprint of 13 major public ports, is planning to set up solar power projects with up to 200 MW capacity.

Mr. Sanjay Bhatia, Chairman of IPA and Mumbai Port Trust, said the IPA is looking at sites for the plants. The power could be produced at one site and then wheeled to all the ports. Various possibilities are being explored, including using surplus port land and buying land cheaply.

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he Indian Ports Association (IPA) will do the project planning while the ports will finance the plants through internal accruals and debt that could include dollar-denominated loans. So far, major ports have already commissioned 16 MW of solar and 6 MW of wind power projects. A committee will explore options for the solar project and prepare its report in a month. The IPA has already signed an MoU with Solar Energy Corporation of India for project management consultancy. Under this initiative, 110 MW of solar potential has been identified at seven major ports. At Mumbai port, which requires about 20 MW of electricity, the management is looking beyond captive consumption.

July 2017

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INDIA

Bihar to invest Rs 20,000 cr in 5 years to generate 3,000 Mw clean energy With Bihar’s growing population & economy, state eyes access to clean, cheap and reliable energy Bihar is eyeing an investment of Rs 20,000 crore in the renewable energy sector in the next five years to generate over 3,000 megawatts (Mw) of clean energy, officials said in Patna.

lan is part of the new renewable energy policy that aims to tap the potential of new and renewable sources of energy in the state.

Bihar has witnessed phenomenal improvement in the power sector in the last few years. Now our focus is on renewable energy. The aim is to generate 3,433 MW of clean energy by attracting an investment of Rs 20,000 crore,” said R Lakshmanan, director of Bihar Renewable Energy Development Agency.

ur major thrust will be on solar energy,” while addressing a national conference on renewal energy ‘Re-Powering Bihar: Energising Access and Opportunities’ in Patna. He pointed out that with Bihar’s increasing population and rapidly growing economy, the state needs access to clean, cheap and reliable sources of energy. Lakshmanan said the new renewable policy target is for installed capacity of 2,969 MW solar, 244 MW biomass and 220 MWsmall hydropower in the next five years so as to meet the growing demand of power in an environmentally sustainable manner. The conference on Thursday was organised by the Centre For Environment and Energy Development “The new Bihar renewable energy policy, 2017, paves the way for investment in clean energy and lays a foundation for lasting prosperity. The new policy is set to revolutionise the energy landscape of Bihar by 2022,” CEED Chief Executive Officer (CEO) Ramapati Kumar said. Ramapati said with a well-defined target, fixed timeline, emphasis on solar rooftops and decentralised renewable energy (DRE) systems, the agriculture sector will be transformed.

Most of the expected Rs 20,000 crore investment is likely to flow into setting up new manufacturing capacity in the state, for solar panels and other renewable energy equipments, skill developments, and research and development for sustainable clean energy, said Ramapati. We still rely on conventional sources of energy, mostly coal, to meet our energy demands. But the adverse effects of carbon emissions from these sources can be seen in the form of accelerated climate change and increase in frequency and severity of natural disasters.”

July 2017

IBC SOLAR Commission 22.5 MWp Project in India IBC SOLAR, a global leader in photovoltaic (PV) systems and energy storage, have continued their success in India with their sixth PV power plant located in Rajasthan in the north of India. the 22.5 MWp project Phalodi was commissioned on time and handed over to the investor. IBC SOLAR have doubled the size of their previous project for the second time in a row. TÜV Rheinland confirms highest German engineering standards.

ith this 22.5 MWp project, IBC SOLAR continue on their road to success in India. The new utilityscale PV plant is located near Phalodi in Rajasthan which is one of the federal states with the largest amount of installed solar capacity in India. The project was a cooperation between IBC SOLAR Projects based in Mumbai and their parent company in Germany. While IBC SOLAR in India had the lead and overall responsibility for the project, the engineering and technical supervision was done by the German parent company, who also provided some key components.

The project is a combination of IBC SOLAR group’s local competencies and IBC SOLAR’s global standards. is particularly proud that despite all challenges the project was finalised on schedule. He remembers, “Engineers and construction crew had to fight loose sand, as well as temperatures as high as 45 degrees Celsius.” With this project IBC SOLAR has managed to double the size of their projects for the second time in a row. The project also marks the important milestone of installing more than 50 MWp solar capacity in India.

Customer of this project is the LN Bangur Group, who has worked with IBC SOLAR for several other large-scale projects. Mr. Shreeyash Bangur, Director of LN Bangur Group says, “The synchronization of the 20 MW AC solar plant at Phalodi in Rajasthan marks a significant milestone in our drive to grow our portfolio of clean and renewable energy generation. The Project has been commissioned more than three months ahead of schedule.” The plant has been certified by the Bangalore branch of TÜV Rheinland, a leading provider of technical services worldwide, according to IEC62446, the PV plant combines the highest German quality standards, maximum cost efficiency and best operating results. Source:PRN

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July 2017

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INDIA

Tata Power turns around solar business to become India’s largest integrated solar company Tata Power Solar, India’s largest integrated solar company, announced that the company has ramped up the scale of business substantially by focusing on building state of art technology, engineering and strengthening on customer & employee satisfaction. Tata Power Solar increased its revenue by more than two and a half times in just two years to reach Rs. 2262 crore.

he focus on efficiency and quality coupled with leveraging technology and innovation has helped the company to implement several challenging projects. The company, with a view of long-term objective, significantly increased focus on EPC, where it had built strong competencies Tata Power Solar has also been the biggest rooftop player for 3 years in a row. Tata Power Solar, in its effort to encourage domestic manufacturing, made significant expansion and modernization of its cell and module facility in Bengaluru. The second expansion within 2 years doubled the company’s module capacity to 400MW, and increased its cell manufacturing capacity by 65 per cent to 300MW. The efficiency level of the cells and modules coming out of these lines are among the best in the world.

Commenting on the achievement, Mr Anil Sardana, CEO & MD, Tata Power said, “We are happy to see our team responding to Government of India’s call of ‘Make in India’. Considering the fact that solar EPC is extremely low margin and the pressures faced by the domestic manufacturing sector, the company has turned profitable within a short span, which is a remarkable achievement. Renewables will continue to be our key focus whether it is generation or manufacturing business. It is encouraging to see all our businesses coming together to achieve the ultimate objective of being the largest integrated player”. “The journey has just begun for India’s solar sector and opportunities as well as challenges are galore. While there are some bottlenecks like decreasing unit cost driven by reverse bidding and influx of cheap and subsided imported panels, solar sector continues to be a key sunrise sector with a potential to make a significant and tangible socioeconomic and environmental impact. With a right blend of experienced rich team and innovative solutions, Tata Power Solar is poised to maintain and enhance its leadership position “ says Ashish Khanna, ED & CEO, Tata Power Solar

Developers expects solar power tariff to drop to Rs 1.5/unit

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New Delhi, Jun 4 (PTI) Solar power developers are bullish on the clean energy and hopeful of tariff coming down to as low as Rs 1.5 per unit on falling equipment cost and cheaper credit with assured purchase pacts. olar power tariff came down to all-time low of Rs 2.44 per unit in the auction conducted for Bhadla solar park last month mainly due to lower equipment and borrowing costs. The new rate of solar power is even below the average rate of coal-based power produced by state-run NTPC at Rs 3.30 per unit.

“The developers are bullish on renewables particularly solar energy. They think that even Rs 2.44 per unit tariff is high in view of lowering of the cost of equipment and avenues available for cheaper funding through various channels,” a source in the Ministry of New and Renewable Energy said.

July 2017

“The developers are ready for another round of aggressive biddings and think that the solar power tariff is viable even at Rs 1.5 per unit,” the source said further. The cost of solar equipment was around Rs 20 crore per MW and tariff was around Rs 15 per unit about 7-8 years ago. But with the passage of time and economies of scales at play, the cost of equipment today ranges between Rs 4-4.5 crore per MW and cost of borrowing has come down by about 4 per cent.

Similar is the case with wind power wherein tariff dipped to Rs 3.46 per unit in an auction earlier this year. The source said that with strictness on meeting the Renewable Purchase Obligation, lower equipment cost and cheaper credit, the tariff of renewables would nosedive further. A banker on the condition of anonymity said that the instance of bad loan is even less than a fraction of a percentage point, which is a clear indication that these renewable projects with low tariff are viable.

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INDIA

BEML sets 100% renewable energy target This windmill will be generating electricity to power the manufacturing units of BEML located at Kolar Gold Fields of Bangalore and Mysore.

A Mini Ratna PSU under the Ministry of Defence BEML Limited has set for itself a target of 100 percent renewable energy utility for its consumption. For this endeavor, Defence Minister Arun Jaitley earlier dedicated 9 MW Windmill Park to the company which has been installed at Dammur village in Bagalkot district of Karnataka.

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part from this, BEML has already installed a 5 MW Windmill Project at Kappatagudda in Gadag district of Karntaka. With the power being generated through this windmill, since 2007, almost 68 percent of energy needs of the company is being met through ‘Green Energy’. After the commissioning of 9 MW Windmill, BEML is all set to produce a substantial unit of electricity and reduce Carbon footprint by mitigating large quantum of Carbon di-oxide from the environment every year, BEML said in an official statement.

Through this initiative, the company aims to contribute towards National Green Energy Mission of increasing Renewable Energy Capacity to 175 GW by 2022 to become World’s clean energy capital. Source:BT

July 2017

INDIA

‘GST to have marginally negative impact on new solar projects’ The GST rate of five per cent on solar PV cells and modules is likely to have a marginally negative impact on new solar power projects, says ICRA.

Chennai airport to become 90 percent solar dependent next year the Chennai international and domestic airport is set to become 90 per cent dependent on solar power from the beginning of next financial year, said R Balasundaram, an engineer at the Airport Authority of India, who is part of the team deploying the project. The project estimated to cost nearly Rs 30 crore will generate nearly 32,000 units of electricity a day. The first phase of this project was implemented in August last.

1.5-MW system was installed at the Cargo airport at the budget of Rs 8.5 crore. “We’ve already saved at least Rs 2.16 crore from the project since the beginning of its trial run in April. We will save our principal investment in the first four years and everything after that is profit,” he said, adding that the system would not have a strong solar battery back-up system and would use solar power during day and use supply from TNEB in the night. The 1.5-MW solar plant generates over 7,500 units a day and reduces carbon emission by 3,600 tonnes every year. Speaking at the World Environment Day celebrations by Confederation of Indian Industries on Sunday at Theosophical Society, he said, “We are working towards becoming less energy-dependent and employ more sustainable energy technology.”

July 2017

ST rate of five per cent is finalised on solar PV cells and modules as per the notification dated which thus clears the ambiguity surrounding the applicable rate, the rating agency said in a statement issued here “This in turn is expected to have a marginally negative impact on new solar power projects due to an increase in capital cost arising from higher tax rate applicable under GST, given that the solar energy sector has been availing various exemptions and concession rates in indirect taxes,” ICRA said.

According to ICRA’s group head and senior vice- president Sabysachi Majumdar, the impact of the GST rate on capital cost for new solar power projects is estimated to be limited at about six per cent, which would thus translate into an increase in levellised cost of generation by 11-12 paise per unit for such projects. “With this, the developers who have already won solar power projects under the competitive bidding route especially in last six month period, where the execution is under progress would incur a higher capital cost as against the cost envisaged at the time of bidding,” he said. Majumdar said given that the competitively bid-based solar tariffs have significantly come down over the last 4-5 month period, timely approval by regulators for passthrough of any higher cost incidence due to change in taxation which is permitted under change in law, remains crucial from developers’ perspective. According to ICRA, the solar project awards in last 5-6 month period stood at about 2.5-3 GW mainly under National Solar Mission route and state policy route, wherein tariffs have fallen from Rs 4.4 unit in November 2016 to Rs 2.44 in May 2017 for projects in Badla Solar Park in Rajasthan. The viability of such bid tariffs hinges on structuring of debt with longer tenures, competitive funding costs and the ability of the project developers to keep the cost of modules within the budgeted levels, the rating agency pointed out. “Besides, the timeliness in seeking approvals, land acquisition and development of associated infrastructure remains critical for projects outside the solar park, given the strict timelines for project execution as per PPA,” Majumdar said. Source:PTI

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July 2017

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BUSINESS & FINANCE

GE Energy Financial Services Surpasses $15 Bn in Renewable Energy Investments GE Energy Financial Services, a business unit of GE, announced recently, at the American Wind Energy Association’s (AWEA) WINDPOWER 2017 conference, that it has exceeded $15 billion in renewable energy investment commitments in wind, solar, and other renewable energy projects globally.

ver the past three years, GE Energy Financial Services has committed to invest approximately $5 billion in renewable energy projects, exceeding its 2014 commitment to invest $1B per year.Global renewable energy investments continue to outpace fossil fuel investment by two-to-one. Renewables is GE Energy

Financial Services’ fastest growing business segment. Its investment commitments span 17 countries, comprise 75 percent wind, 18 percent solar and seven percent other renewable technologies, and include two recent off-shore wind investments – the U.S. Block Island Wind Farm and Merkur Offshore Germany.

“Renewable energy has a vibrant future with demand increasing across the world, and it creates jobs and addresses global environmental challenges,” said David Nason, President and CEO of GE Energy Financial Services. “With GE at the forefront of technology and digital advancements, we continue to invest in this attractive asset class.” Consistent with the GE Capital strategy to more closely align with its industrial businesses, GE Energy Financial Services invests equity and debt, and helps to place capital, in support of GE and its customers globally.

GE Energy Financial Services’ $15B in investment commitments is in more than 16 gigawatts of renewable energy projects globally. Collectively, its renewable energy investment commitments are in projects that generate

July 2017

enough clean energy to power 3.5 times the number of homes in the city of Los Angeles, California, avoiding more than 41 million metric tons of greenhouse gases, and equivalent to almost nine million cars off the road.

The $15 billion investment milestone occurs on the heels of an active 2016 for the industry. In 2016, GE Energy Financial Services invested tax and cash equity in 16 U.S. renewable energy projects, of which approximately 1.4-GW is expected to be operational in 2017. The fourth quarter was reported by AWEA as the second strongest quarter for U.S. wind installations on record, with GE Renewable Energy leading in market share. “Wind power is a winning investment for Americans in all 50 states,” said Tom Kiernan, CEO, AWEA. “With companies like GE at the forefront, wind increasingly powers our economy, creating good-paying jobs and supplying low-cost electricity for millions of American homes and businesses. And wind power’s technology continues to advance in the digital age – bigger, better and more reliable than ever.”

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BUSINESS & FINANCE

GE Energy Financial to Invest $3 Billion, Half for Renewables

General Electric Co.’s energy-investing unit expects to commit $3 billion this year, with at least half going to support renewable-energy projects around the world.

Most of GE Energy Financial Services’s 2017 investments will be in North America, including deals to repower existing wind farms, according to David Nason, chief executive officer of the unit, which frequently backs projects that use GE technology. Repowering projects — replacing aging turbines with new ones will be one focus for the unit this year and next, he said. The unit has committed more than $15 billion to renewables, including about $5 billion over the past three years. “There are a lot of wind farms with older technology,” Nason said in an interview.

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uch of the 2017 clean-energy commitment will come from equity investment and tax-equity deals, where clean-energy developers sell portions of projects’ tax credits to companies — including GE, banks and insurance companies — that can apply the federal credits to their own tax bills. The unit also provides loans. The unit was the third-largest U.S. tax-equity investor in 2016, behind JPMorgan Chase & Co. and Bank of America Corp. in terms of the number of publicly disclosed deals, according to Bloomberg New Energy Finance. It’s been most active with wind deals, including the first tax-equity financing for offshore wind, according to Amy Grace, a New York-based analyst at BNEF. “The synergy to do the financing and the equipment is quite powerful,” Nason said in an interview. “It allows us to sit with project developers at an earlier stage than we otherwise might.” Source:Bloomberg

July 2017

BUSINESS & FINANCE

Ezon Energy Plugs into Arcor with JV

Sebi puts in place disclosure norm for green bonds Coimbatorebased startup Ezon Energy Solutions has formed a strategic joint venture for Indian solar projects with Arcor, a Turkish fund and solar development company. The joint venture, to be called Arcor Ezon, will set up 1,000 MW of solar power generation projects in India. “The JV is putting in $1 billion in India. The ratio is confidential,” said Hiten Shah, vicechairman, Ezon Energy. However, the equity holding will depend upon the project and capability to infuse equity in each project on a standalone basis. Arcor would be exclusively partnering with Ezon for Indian projects. Ezon Energy, founded in 2013 by exBHEL technocrat SK Radhakrish nan, has patented a threeaxis

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racker solar system that gives an output of 1.9 million units per MW per year as compared to 1.6 million units of energy from others in the market. The solar system works on the ‘sunflower’ principal the panel moves in the sun’s direction. The JV will be executing projects in southern India and Gujarat. So far, Ezon has installed 100 rooftop solar panels in India with 21MW capacity and another 100MW solar project is under execution.Arcor Energy is one of the major players in solar development and funding space and with this JV it is making its first entry into the Indian market. Last year, Ezon Energy raised Rs 140 crore from Japanese investor Natori Nohisa to set up a 140MW solar power project in Karnataka and Kerala. Source:ET

July 2017

To help companies raise funds through green bonds for investment in renewable energy space, regulator Sebi today put in place disclosure norms for issuance and listing of such bonds.

ssuer of a green bond will have to make disclosure about environmental objectives of the issue of such securities in the offer documents, Securities and Exchange Board of India (SEBI) said in a circular. Besides, issues would have to provide details of the systems and procedures to be employed for tracking the proceeds of the issue, including the investments made and earmarked for eligible projects in the offer documents.In addition, the issuer would have to make disclosures including use of proceeds, list of projects to which green bond proceeds have been allocated in the annual report and periodical filings made to the stock exchanges. The issuer can appoint an independent third party reviewer, certifier or validator for reviewing, certifying and validating the pre-issuance and post-issuance process including project evaluation and selection criteria. However, this has been kept optional. The disclosure framework comes after SEBI board in January 2016 had approved norms for issuance and listing of such securities in the stock market.

he move is aimed at helping meet the huge financing requirements worth USD 2.5 trillion for climate change actions in India by 2030. A green bond is like any other bond where a debt instrument is issued by an entity for raising funds from investors. However, what differentiates a green bond from other bonds is that the proceeds of a Green Bond offering are earmarked for use towards financing green projects.

ccording to SEBI, a debt security will be considered green bonds if the funds raised through it will be used for renewable and sustainable energy including wind, solar, bioenergy, other sources of energy which use clean technology. Among others, such funds would be used for clean transportation; sustainable water management; climate change adaptation; energy efficiency including efficient and green buildings; and sustainable waste management.

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July 2017

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BUSINESS & FINANCE

New Project to Support 24×7 Power for All in Andhra Pradesh, India WASHINGTON, MAY 26, 2017 – The World Bank will support the Government of Andhra Pradesh (AP) provide reliable, quality, and affordable 24×7 power to its citizens.

ndhra Pradesh 24×7 Power for All Project, $240 million approved by the World Bank Board of Executive Directors today will help build new transmission and distribution infrastructure, as well as put in place systems to improve the technical efficiency and commercial performance of the state power sector utilities. The project will help bring in modern technology solutions such as automated sub-stations and network analysis and planning tools to provide reliable power supply and enhance customer satisfaction. While a significant portion of the

proposed investments are aimed at improving power supply to rural areas, the project will also focus on demonstrating the deployment of smart grids in selected towns. The project is part of the Government of India’s Power for All program launched in 2014. Andhra Pradesh is one of the first states selected for the rollout of the Power for All program. According to the Andhra Pradesh Power for All document the energy demand in the state is expected to grow to 78,900 GWh (Gigawatt-hour) by FY 2019 from 56,313 GWh in FY 2015, which implies an annual energy requirement of more than 8.5%. Substantial investments will be needed to meet this rising demand.

By increasing the supply of reliable electricity to households, industries, businesses and various other productive sectors, the project will contribute to economic development, poverty alleviation, and inclusive growth in Andhra Pradesh,” said Junaid Ahmad, World Bank Country Director in India. “Around half of the proposed investments are targeted towards improving power supply in rural areas, thus providing opportunities to increase household incomes and standards of living for some of the poorer communities in India,” he added.

July 2017

Some of the major components of the project include strengthening of the intrastate transmission and distribution network to disperse power to the load centers in the state. While overall AT&C loss levels in Andhra Pradesh are low in comparison to many states, losses in a few rural districts are high. The state is planning measures like a High Voltage Distribution System (HVDS) in selected rural areas supported by the project. The distribution companies in Andhra Pradesh are ahead of many of their peers in deploying ICT based technologies. Under this project they now plan to move to the next level by developing a power distribution grid which will help monitor and improve the operational efficiency of the system. The project will also support smart consumer meters, with two-way communication and backend IT infrastructure, deployed in select urban towns. These meters will not only reduce technical and commercial losses, but also improve peak load management. The meters are expected to provide consumers with better access to data which will encourage them to reduce their electricity consumption.

Since 2014, the Government of Andhra Pradesh has taken significant steps to improve the power sector in the state. By supporting the government’s plans for improving the commercial performance of its distribution companies, the project will go a long way in helping Andhra Pradesh move into a higher growth trajectory,” said Mani Khurana, Senior Energy Specialist and World Bank’s Task Team Leader for the project. “The smart grid interventions under the project will demonstrate positive impacts on reliability and network management which can inform the design of similar projects in other states.” she added.

The $240 million loan from the International Bank for Reconstruction and Development (IBRD), has a 5-year grace period, and a maturity of 19 years. The project is being co-financed by the Asian Infrastructure Investment Bank (AIIB). The World Bank and AIIB will provide loans in a 60:40 ratio for all components of the project.

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BUSINESS & FINANCE

Swelect Energy Systems hits the roof due to turnaround in quarterly earnings Swelect Energy Systems on posted a standalone net profit of Rs 13 crore for the quarter ended March 31, 2017, as against a standalone net loss of Rs 1.04 crore for the same quarter in the previous year

oard of directors of the company in its meeting held on May 25, 2017, also recommended a final dividend of Rs 4 per equity share for the financial year ended March 31, 2017, as per BSE filing. Meanwhile, Swelect Energy witnessed a spurt in the volume by more than 114.70 times. The stock breached upper circuit, higher by 19.99% at Rs 421.35 per share. Swelect Energy Systems Limited is engaged in the business of manufacturing and trading of solar power projects, solar and wind power generation, sale of solar photovoltaic inverters and energy efficient lighting systems.

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Stock View: Swelect Energy Systems Ltd is currently trading at Rs 421.35, up by Rs 70.2 or 19.99% from its previous closing of Rs 351.15 on the BSE. The scrip opened at Rs 420.95 and has touched a high and low of Rs 421.35 and Rs 409 respectively. So far 329869(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 354.87 crore. The BSE group ‘B’ stock of face value Rs 10 has touched a 52 week high of Rs 425 on 04-Jul-2016 and a 52 week low of Rs 295 on 22-Nov-2016. Last one week high and low of the scrip stood at Rs 379.75 and Rs 336.05 respectively. The promoters holding in the company stood at 64.08 % while Institutions and Non-Institutions held 1.72 % and 34.2 % respectively. Source:IIFL

July 2017

rooftop

Howrah railway station to set up rooftop solar power Howrah railway station is set to go green with the installation of three megawatt rooftop solar panels on platform sheds. “We are executing a three megawatt rooftop solar project for eastern railway at a cost of Rs 21 crore which will probably be the largest rooftop solar project in the Indian Railways,” RaysExpert director Rahul Gupta told PTI.

aysExpert is a renewable energy service company, engaged in the project. Confirming the development, eastern railway CPRO Ravi Mahapatra said that 14 platform sheds will be used to setup the rooftop solar panels. Gupta said they will sell power at Rs 5.49 per unit for the next 25 years to eastern railway. “Financial closure is done and we expect to execute the project in the next three months,” he said. According to estimates, 50 to 60 per cent of the power demand at Howrah station can be met through solar energy.

Ajmer division of NWR inks pact for solar panels

y signing Power Purchase Agreement (PPA) on Thursday evening with distributing solar company for 550 kwp capacities of solar plants, Ajmer division of North Western Railways (NWR) has taken another big leap in solar power connectivity and self-reliance energy. This will help to connect DRM office, Ajmer railway station, zonal training institute in Udaipur and Udaipur railway station with solar power.

Agreement for this project, under central finance assistance programme of ministry of new and renewable energy, was signed by senior divisional electrical engineer and representative from the company in presence of DRM Puneet Chawla. Speaking to media persons on this occasion, Chawla said solar panels will be installed on rooftops of railway buildings. “The company is leading a leading renewable energy companyand has commissioned clean energy with more than 10 megawatts of rooftop solar projects at various zones of Indian Railways,” added the DRM. Source:TOI

July 2017

CleanMax Solar and Hitachi High-Technologies Announce Partnership to solarize rooftops of Japanese companies in India CleanMax Solar, India, and Hitachi High-Technologies Corporation (TSE: 8036, Hitachi High-Tech) announced signing of a Memorandum Of Understanding to jointly offer high-end rooftop solar solutions to Japanese companies across India. The partnership would build on recent industry trends which make rooftop solar significantly cheaper than grid tariffs in India.

nder the partnership, CleanMax Solar & Hitachi High-Tech aim to enable Japanese corporates in India to adopt green energy practices by providing them solar power in a low-risk, economical and reliable manner. Through the partnership, the companies will offer both Capex as well as Opex solutions for Japanese corporates to adopt solar power. Hitachi High-Tech’ s role in the partnership will include approaching Japanese clients based on customer basis already established though existing business in various field, supplying cutting edge technology solar PV panels and considering low-cost Japanese financing. As the #1 rooftop solar developer in India, CleanMax Solar will bring to the partnership, its unparalleled expertise in developing, building and maintaining solar projects in India. The partnership also envisions possible expansions to other international markets in the future.

Odisha to electrify 406 villages through solar power in 2017 Odisha government has set a target to electrify at least 406 villages through solar power during 2017 after providing similar facilities to 1620 villages so far.

as revealed by Odisha’s Science and Technology Minister Badri Narayan Patra while addressing a press conference on completion of the three years in office by the Biju Janata Dal government.Claiming that the state run Odisha Renewable Energy Development Agency (OERDA) has played a vital role in providing renewable energy to the people living in forested and hilly areas, the minister said, of the 1620 villages so far electrified with solar energy, 145 villages are located in remote area inhabited by tribal population. The solar power also helped the administration in providing drinking water to the people in remote areas. The tubewells and pump sets are run through solar power in remote areas where electricity connection could not reach due to geographical difficulties.

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Commissioned 30MW and currently executing Commissioned 30MW and currently executing60.49MW 60.49MWacross across 3 3 states states

275MW

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July 2017

27Â

www.solarquarter.com

INDIA

Centre removes interstate supply charges on solar power projects till December 2019 Solar power projects will be exempted from interstate transmission charges till the end of December 2019, making it feasible to compete with thermal power.

he decision was taken by the ministry of power in consultation with the ministry of new and renewable energy (MNRE) and other stakeholders since imposition of charges would have raised cost of using solar power from another state by Rs 1-2.50 per kwH, depending on the distance it is transmitted and voltage at which it is supplied

An order signed by Jyoti Arora, joint secretary in the ministry of power,

said, “For generation projects based on solar resources, no interstate charges or losses will be charged for use of the interstate transmission system …till December 31, 2019.”

Exemption period was due to end on June 30. Solar tariffs have been falling steeply in recent years, touching an all-time low of Rs 2.44 per kwH at Rajasthan’s Bhadla solar park auction in May, very much on a par with thermal power. But imposition of interstate transmission charges would have affected capacity to compete. There was apprehension among solar developers that given the rapidly falling solar tariffs in successive auctions, the government might no longer consider solar power deserving of such subsidy support.

“Rajasthan can produce so much more solar energy than it needs for its own consumption and can sell it to other states,” said Sunil Bansal, general secretary, Rajasthan Solar Association. “Waiving transmission charges will generate income and employment in Rajasthan and benefit other states as well.” The government has set itself a goal of 100,000 MW of installed solar power by 2022, and has currently reached only 12,504 MW

“Even though solar tariffs have come down sharply, removing the waiver does not make sense at this stage as the original policy objective is still far from being met,” said Jasmeet Khurana, associate director at solar consultancy Bridge to India. The last revised tariff policy of the Centre, announced in January 2016, had provided that “in order to further encourage renewable sources of energy, no interstate transmission charges or losses may be levied for such period as may be notified by the Central government on transmission of electricity generated from solar and wind sources.” On September 30 last year, the ministry of power passed an order waiving such charges for wind energy projects up to March 2019, but only up to June 2017 for solar projects.

t is only now that power procurers have started to use the interstate transmission route to source solar power,”

The Delhi Metro Rail Corporation (DMRC), for example, signed an agreement in April to draw most of its daytime power needs from the 750 MW ultra mega solar power project – three plants of 250 MW each – being built at the Rewa solar park, Madhya Pradesh. Power procurement by DMRC was predicated on interstate charges being waived,” said Khurana. Uttar Pradesh is also said to be considering buying solar power from sunshine-rich Rajasthan.

July 2017

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July 2017

29Â

rooftop

Goa Raj Bhavan gets its own rooftop solar power plant

oa’s Raj Bhavan on Wednesday got its own grid-connected 30 KW rooftop solar power plant. The solar roof-top power plant, a first of its kind, which has been installed by the Goa Energy Development Agency, in the campus of the Raj Bhavan, was formally inaugurated by Governor Mridula Sinha, said a Raj Bhavan statement. “The Governor further mentioned that having technical collaboration with GEDA will go a long way in motivating the other parts of the states to replicate such projects to generate clean and green energy,” the statement Governor Mridula Sinha said.

Delhi L-G directs roadmap for promoting solar power panels Lt Governor Anil Baijal directed the power department to prepare a standard operating procedure (SOP) as well as a roadmap for promoting installation of solar power panels in the city. The SOP will help in facilitating various government departments and potential large users to install solar power.

e also asked the secretary (power), Delhi government, to prepare a roadmap for timebound installation of rooftop solar panels on government buildings including schools and hospitals, and malls in the city to achieve the target of tapping 1 GW solar power by 2020. Baijal dubbed solar energy as a strong antidote to pollution while participating in a meeting of officials including Delhi chief secretary of and secretary (power) among others from different departments of the Delhi government. The Delhi Solar Policy 2016 aimed at mass adoption of solar power in the city was notified on September 27, 2016. The highlights of the policy included a generation-based incentive for 3 years. The L-G also asked for an awareness campaign for popularising advantages of solar power and incentives given by government to individual households for adopting solar power, through distribution of pamphlets along with power bills by the discoms. A presentation on initiatives taken by the Energy Efficiency and Renewable Energy Management (EEREM) Centre of power department was made by the secretary (power).

July 2017

Pune Metro to generate 17MW of solar power

he Pune metro rail, which is being developed by Maha Metro, aims to draw 65 per cent of its energy needs from solar panels which will be installed on the metro, officials of Maha-metro said at an even held on World Environment Day in Chinchwad.

Speaking at a function to celebrate the World Environment Day, Brijesh Dixit, Managing Director, MAHAMetro said on Monday that they plan to generate 17 MW energy in the first phase through solar.

ccording to Dixit, electric vehicles will be used for the feeder service to connect between important stops and points to metro stations. Their batteries can be charged using solar power, he said. “Adopting and integrating solar energy generation from project planning and design stage is our motto. In the phase one, we will generate 17-megawatt energy through solar. The Pune Metro will become one of the very few metros in the world to get atleast 65% of the required power from renewable energy mainly from Solar,” said Dixit.

amnath Subramniam, Executive Director of Maha-metro, said that around 30 per cent cost of running the metro is energy-related. The dearth of timely public transport has made metro an essential development in order to connect the twin cities of Pimpri-Chinchwad and Pune, claimed Dr Brijesh Dixit, Managing Director of Maha-metro.

he project will be a better version of its parent project, the Delhi metro, which was the first metro rail to be introduced in the country, said Dr Dixit. In light of the environmental impact and pollution caused in the national capital, Dr Dixit claimed that the aim is to lower the environmental impact by learning from the mistakes of the previous projects.

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Ingeteam’s new 100kW string PV inverter This world class photovoltaic inverter is able to provide its rated power -100kW- up to 50ºC ambient temperature. It is suitable for outdoor installations thanks to its IP65 protection rating. Thanks to its greater output power –up to 110kW if connected to a 440Vac network-, the new INGECON SUN 100TL allows to drastically reduce the number of inverters required for designing a PV power plant. Thus, it minimises the labour cost and reduces the global cabling cost. Furthermore, it enables up to a 20% cost reduction in AC cabling as this PV inverter does not require a neutral wire. Moreover, it does not require DC combiner boxes, nor AC combiner boxes, ensuring the minimum possible CAPEX –Capital Expenditures-. It allows a wireless communication network, so the power plant can be commissioned, monitored and controlled without any communications cabling. Ingeteam offers two different versions –STD, PRO- in order to adapt to each and every project, but all these inverters are equipped with DC and AC overvoltage protection with surge arresters, type II.

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READY FOR YOUR CHALLENGES

July 2017

rooftop

ICICI Bank commissions 200 solarpowered ATM sites

Government schools lead in sun-charging the grid Government schools in Chandigarh are leading the charge when it comes to generating solar power.

ith 64 schools in the city having rooftop solar plants, the annual power generation at these buildings is 32.6 lakh kW -equal to reducing 226 metric tonnes of CO2 during the same time, or planting 2.44 lakh trees in a year. But that’s not all. This form of renewable energy has also been saving money for them, and that too in lakhs. Here’s an example: Government Model Senior Secondary School for Girls, Sector 18, has not been paying its electricity bills of late. In fact, the electricity department owes Rs 38.25 lakh to it.This is because the electricity produced by the rooftop plant installed on the school’s premises, is supplied to the city’s power grid. The best part is that such plants are being installed at another 18 schools.

ICICI Bank commissioned over 200 solar powered ATM sites in the last one year as part of its efforts to reduce carbon footprint and use more clean energy. We have taken several measures to ensure the Bank actively contributes towards environmental sustainability,” ICICI Bank MD & CEO , Chanda Kochhar said. the bank has been leveraging on technology constantly and has helped customers in adopting more of digital modes of banking.

The story of GMSSS-18 is not an isolated one.

overnment High School, Sector 53, also has its power bills in the negative. The UT department owes Rs 1.43 lakh to it and another Rs 7.93 lakh to Government Model Senior Secondary School, Sarangpur. In some schools, solar plants have installed either under net metering or under gross metering. Under net metering, solar energy generated is first consumed locally in the respective building loads and the excess, if any, is exported to the grid.In gross, all electricity generated goes to the grid and school doesn’t use it. Schools get paid for all units they send to the grid.

CICI Bank has reduced its overall energy consumption in large offices and branches from 198 million units in 2013-14 to 164 million units in 2016-17, saving 34.2 million units in last three years, the bank said.

“This is equivalent to the amount of energy that can power 42,000 rural households for an entire year. Additionally, the bank has commissioned over 200 solar powered ATM sites,” ICICI Bank said in a statement on the occasion of the World Environment Day. There has been a reduction in the bank’s overall carbon emission by nearly 40,000 tonnes due to these efforts, which is equivalent to planting 1,94,000 trees to offset the volume of carbon dioxide emissions.“Over the last few years, the Bank has focused largely on reducing its carbon footprint and bringing in more efficient technologies and processes.

The installation of these solar panels has not had any adverse impact on the school buildings, ac-

coridng director school education Rubinderjit Singh Brar. “Most of the solar panels are not visible

from the ground level ei ther,” Barar added, during a recent meeting of different states in Chandigarh last week. All Government Schools have modern concrete and multi-storied buildings in Chandigarh, with sufficient rooftop space for solar power generation. “The project has reduced power bills; now, these savings can be use for other useful purposes,”

Source:PTI

July 2017

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rooftop

Tiruchi airport to tap solar power Ola joins WWF-India to support renewable energy project The Airports Authority of India (AAI) has decided go green by tapping solar energy for power requirements at the fast growing Tiruchi international airport to the extent possible to cut down mounting power bills in the long run.

Cab aggregator Ola and World Wide Fund for NatureIndia (WWF-India) on Thursday joined hands to support ‘Sahasra Jyoti’, a renewable energy project in the Sundarbans.

he ‘Sahasra Jyoti’ initiative is aimed at bringing sustainable development to the Sundarbans by enabling energy access to 1,000 households through solar energy.

“The collaboration with WWF aims at enabling sustainable solar-powered energy supply to the households of the Sundarbans,” Anand Subramanian, Senior Director-Marketing Communications at Ola, said in a statement.

lan is to establish a Roof Top Grid Connected 140 kWp Solar Photo Voltaic Power Plant at an estimated cost of 97.08 lakh at the Tiruchi airport which has been witness to rising passenger and freight traffic over the years. The AAI has already set the process in motion by floating tender for the design, supply, installation, testing and commissioning of solar power plant at the airport which has direct connectivity to select destinations in South and South East Asia and West Asia. The AAI has aimed to complete the work in four months time upon identifying the agency. The authorities have already identified the site for putting up the solar plant at the airport where passenger traffic peaks in the morning and late night hours daily due to bunching of overseas flights to different destinations. Airport sources told The Hindu that the proposed solar photo voltaic plant would be established atop the existing sub station on the huge airport premises. The tender formalities relating to identification of the successful bidder was expected to be completed soon, the official said adding that the plant was likely to be commissioned in October.

Power generated through the proposed solar plant would be fed into the existing supply system. The Stateowned Tamil Nadu Generation and Distribution Corporation Limited supplies power to the airport. The solar energy generated would entirely be used for in-house consumption to the extent possible including offices, car parking area and other areas,The non-metro Tiruchi airport is one of the big customers of the TANGEDCO here. The airport alone pays over 50 lakh per month to the TANGEDCO for using power round-the-clock for various areas inside including the huge terminal building, old airport building and other vital spots. Source:The Hindu

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The ‘Sahasra Jyoti’ project is aimed at setting up individual micro solar power stations for 15-20 hamlets in the Satjelia Island which is a forest-fringe island, sharing its boundary with the Sundarban Tiger Reserve and has an approximate population of 40,000 people.

India’s first solar satellite television service brings “magic” to villages An Indian social business has launched the country’s first solar satellite television service, bringing clean energy powered entertainment to households and businesses through a payas-you-go payment scheme.

We see a tremendous opportunity in rural areas where demand for energy is growing even faster than supply,” said Simpa Network CEO Piyush Mathur in a statement. “Rooftop solar has a role to play in both off-grid and on-grid areas. In many cases it’s the fastest and least expensive way to get power into the homes and businesses in rural areas.”

impa Networks, which began operations in 2011, is one of thousands of social enterprises in India tapping into the renewable energy market in a country where one-fifth of the 1.3 billion population has no access to electricity.With the majority of those without power from poor communities in countryside, the company focuses on selling solar powered products such as LED lights, phone charging points and fans on financing to rural homes and shops in northern India.

July 2017

featured

Cabinet approves Initial Public Offer of Indian Renewable Energy Development Agency Limited

Trina Solar’s PV Modules Operational in a 455 MW DC Solar Project developed by SB Energy Trina Solar’s PV modules have commenced operations in a 455MW DC solar power plant in Andhra Pradesh developed by SB Energy, a joint venture between SoftBank Group, Bharti Enterprises and Foxconn Technology Group. This is the largest single order that Trina Solar has ever closed in India.

MR. K.S.POPLI

CMD Ireda Ltd

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval to: (a)

(b)

(c)

issue 13,90,00,000 fresh equity shares of Indian Renewable Energy Development Agency (IREDA) of Rs.10 each to the public on book-building basis through the IPO; issue shares to retail investors and IREDA employees at a discount of 5% on the issue price of each equity share on bookbuilding basis, with cap of 0.5% on equity post issue for CPSE employees and the allocation to retail investors in the net offer will not be less than 35%, as per the ICDR, 2009.However, the number of shares proposed to be issued to employees and retail investors will be finalized in consultation with the lead managers and as per the SEBI regulations and conduct book building process for the said IPO by MNRE / IREDA through Book Running Lead Manager (BRLM) as per the guidelines of Department of Investment and Public Asset Management (DIPAM) and as per guidance of the Inter-Ministerial Group.

T 34

he Public issue of equity will enable IREDA to increase its equity base which will help them raise more debt resources for funding RE projects. Such public issue will also enable it to unlock its true value and increase its visibility in domestic and international financial markets. IREDA, being the premier institution for RE Sector, will be required to raise equity funds to leverage loan financing for RE Sector. IREDA has to cater to the increasing needs of the sector to sustain its contribution to the Renewable Energy Sector. Government of India has scaled-up the RE targets to 175 GW by the year 2022. To achieve this ambitious target, substantial investments in RE sector will be required.

July 2017

Mr. Jifan Gao, Chairman and CEO of Trina Solar said: “We are proud to be the trusted partner of SB Energy for its first large-scale solar project in Andhra Pradesh. This is part of our continued effort to contribute to India’s national target of 100GW of solar generation capacity by 2022. We are committed to working with SB Energy in meeting the country’s energy demands through clean sources and building a green and sustainable environment.”

he PV modules supplied for this project were TALLMAX 72-cell polycrystalline panels. TALLMAX modules are recognised by industry professionals for their proven historical performance in the field and the high quality standard. It is one of the industries most trusted products for large-scale solar projects. The plant, commissioned on March 29, 2017, was designed and developed by SB Energy using the latest technology of module cleaning, site maintenance and security from global best practices. It has the capacity to produce clean electricity for over 700,000 Indian households.

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INDIA

Vikram Solar celebrates 1 giga watt of production capacity

Rajasthan get its first fully automatic Module Manufacturing unit at Jaipur Insolation Energy Pvt Ltd announces grand opening of 60MW Solar Module Production Line at Jaipur (Rajasthan)

The Indian solar module manufacturer Vikram Solar has reached the 1 gigawatt production capacity milestone. In doing so, the company is contributing to the Indian government’s target of reaching 100 GW of installed solar energy capacity by 2022.

ttainment of this target will make the Indian solar market one of the largest in the world. Gyanesh Chaudhary, CEO at Vikram Solar, is planning to further increase the production capacity to 2 GW by 2020.

With our highly efficient modules, we have made a significant contribution to the success of the ‘Made in India’ brand over the past 10 years,” says Gyanesh Chaudhary. “Vikram Solar is currently one of the most influential solar companies in India. Our strategy is geared towards highly-efficient production, high quality and international marketing. This drives the Indian solar industry forward, and also creates momentum on an international level.” In addition,

Vikram Solar is one of the pioneers of the Indian solar industry in the field of production quality and is continuously developing technology under its ambitious research and development strategy. In 2015 and 2016, investments in this field amounted to over 100 million Indian rupees. During these years, the company supplied solar modules totalling an output of 750 megawatts (MW) all around the globe. In the 2016/17 fiscal year, the revenue generated by Vikram Solar grew to Rs 1,700 crore – a substantial improvement on the previous year’s figures of Rs 900 crore.

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nsolation Energy - a manufacturer of highefficiency Poly/mono- Crystalline Solar PV modules, announced the grand opening of its new factory in Jaipur, Rajasthan. The company holds an on-site ribbon-cutting ceremony with BJP State President Mr. Ashok Parmani and other state local officials in attendance. The project, which is first state of the art panel manufacturing unit in Rajasthan, will deliver more than 500 jobs and millions of investment over the next five years. The first phase of the project includes a 60 MW line which will entail more than 200 direct jobs in 2017 and 2018.

I am delighted to be joining Insolation officials to celebrate the grand opening of the company’s new production facility in Jaipur,” BJP State President Mr. Parmani said. “I am grateful to company officials for their well-founded confidence in Rajasthan’s skilled workforce and in our business climate, and I am proud that in five years’ time, 500 Indians will be producing Insolation’s innovative solar panels in Rajasthan.” Our partnership with the state of Rajasthan and the city of Jaipur has been a tremendous driving force behind our manufacturing scale-up,” said Mr. Manish Gupta- MD Insolation Energy Pvt. Ltd . “Our employees and partners have worked hard to start up this facility on an extremely fast timeline, and we are excited to expand our Indian manufacturing presence in this world-class location. Our technological advancement helps us to produce the solar equipment in the most efficient manner. Basically this idea is inspired from MAKE IN INDIA Campaign.” Present on the occasion Mr. Vikas Jain, MD Insolation Energy Pvt. Ltd commented that “we need to work in the field of alternative sources of energy and solar energy is the name which offers a bright future opportunity to us.”

July 2017

INDIA

Adani Group commissions 50 mw UP solar plant

Equis Energy Commissions Two Solar Assets in Southern India Generating 130 MW

The Adani group today announced the commissioning of a 50 mw solar photovoltaic (PV) plant in Mahoba in Uttar Pradesh under the National Solar Mission Scheme with an investment of Rs 315 crore.

tring inverter technology used is the first of its kind in UP with crystalline silicon modules that allow miniature level control of solar power generation, the group said in a statement. According to the statement, the transmission line runs up to a stretch of 21.5 km. The power generated by this plant will be evacuated by 132 kv transmission line to UPTCL (UP Transmission Corporation).

The project has created job opportunities — both direct and indirect. “We are moving closer to our aim of revolutionising the renewable energy sector in India,” said Jayant Parimal, CEO, Renewable Energy Business, Adani Group, in a statement.

The company recently unveiled a 648 mw solar power plant at Ramanathapuram district in Tamil Nadu, the worlds largest such facility at a single location. With this plant, the company has added another 50 mw to the existing portfolio. The groups capacity in solar energy now goes up to 838 mw, spreading across Gujarat, Tamil Nadu, Uttar Pradesh and Punjab. By the end of this year, the Adani group expects to have more than 2 gw of solar installed capacity. Source:IT

July 2017

Singapore, 6 June 2017 – Equis Energy (Equis), Asia-Pacific’s largest renewable energy Independent Power Producer (IPP), has commissioned two solar projects in Sadasivpet and Minpur, in the southern state of Telangana, India, adding 130 MW operating capacity to its portfolio. adasivpet asset was commissioned on May 3, 2017, a month ahead of schedule, and the Minpur asset was commissioned in February 2017, four months ahead of schedule. Both assets were self-developed, and construction was completed in partnership with Sterling Wilson. Equis has financed 674 MW of Indian renewable energy with an additional 300 MW pipeline under development. The Sadasivpet and Minpur assets brings Equis’ operating renewable energy portfolio in India to 10 assets totaling 544 MW, comprising 414 MW of wind, and 130 MW of solar. In addition, Equis has 130 MW of solar assets under construction targeting commissioning in the next 12 months.

David Russell, Equis Board Chairman, said, “In-

dia has set ambitious renewable energy targets that ensure green energy will play a vital role in India’s economic transformation over the next 15 years. Equis has nearly a gigawatt (GW) of renewable energy in operation and under velopment in India and we are excited about the prospects for continued growth, delivering low-cost, clean energy to Indian consumers and businesses, as well as offering jobs to the community.”

he Sadasivpet and Minpur projects generate 211,116 MWh of energy per annum and on an annual basis provide 195,659 households with electricity, and save 195,493 tons of CO2, as well as 198.4 million liters of water.

Karnataka denying right of way to Southern power grid: Goyal

“We have improved the capacity of southern grid by 89 per cent and will double the capacity in the next two-to-three years. However, Karnataka is not providing the right of way for drawing power lines,” Goyal said in response to a query at a briefing here on three years of the NDA government.”The media should flag this off to the state government,” Power Minister Piyush Goyal said

The capacity of India’s southern electricity grid has increased 89 per cent in the last three years and the Centre plans to double it in the next three years, while blaming the Karnataka government for posing hurdles to these plans.

e said there is currently no shortage of power in any state, including Karnataka, and if a state wants to purchase power it is available at a price of Rs 2.40 per unit.” The average price was around Rs 2.50 per unit,” Goyal said. and He said the state miner Coal India Limited is going to set up 1 GW of solar energy power generation, and will later work towards achieving 10 GW of renewable power capacity addition.

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INDIA

Topaz Solar Power to set up 500 Mw unit in Odisha for Rs 220 cr

Vikram Solar to double capacity to 2 GW by 2020

Kolkata-based Topaz Solar Power proposes to set up a solar module manufacturing plant in Odisha with an annual capacity to produce 500 megawatts (Mw) of solar panels.

Solar energy solutions provider Vikram Solar said today it will expand its manufacturing capacity to 2GW by 2020.

This will be the first solar panel manufacturing facility in the state, which of late has identified renewable energy as a priority area.

roject, which will come up on 5 acres of land in the vicinity of Bhubaneswar, is estimated to cost Rs 220 crore. Of this, Rs 80 crore will be in the form of equity with the rest Rs 140 crore being debt. Out of the total project cost, Rs 170 crore will be spent on imported equipment. The payback period of the project is anticipated to be 6 years. The project will be implemented in two phases — 120Mw in the first phase and the balance 380MW within 2 years from the commercial production of 120 MW i.e. three years from the start of the project.

In our endeavour to contribute to our Make in India commitment, we aspire to expand our capacity to 2GW by FY2020,” Gyanesh

Chaudhary MD & CEO Vikram Solar said in a

The project will use German and Chinese technology and it will be set up by Stratallig Solar on turnkey basis. Topaz Solar Power is promoted by Ganesan Natarajan and Usha Natarajan through firms Anand Manor & Dyuti Vinimay. Currently, the promoters are engaged in manufacturing of metallurgical coke with cogeneration of power, renewable energy and trading of bulk commodities like ferrous and non-ferrous scrap, building material etc. in India and abroad. However, the promoters’ intent to seek incentives under the ESDM (Electronic System and Design Manufacturing) policy of the Odisha government is thwarted by the obligation of meeting employment generation conditions. According to a 2015 notification of the state government, a large ESDM project has to employ 500 people at the start of the project and scale it up to 2,000 people within 5 years of operation to claim the incentives.

“Solar PV module manufacturing units is highly automated manufacturing process and thus, do not require huge manpower like BPO (Business process outsourcing) and IT (information technology) industries, which are service industries. In view of this, we have requested the state government to modify the condition of employment generation,” Natarajan said. He said the world annual photovoltaic demand is expected to reach up to 30 GW in 2014. Solar electric energy demand has grown consistently by 20-25 per cent a year over the past 20 years. India has projected a total installed capacity of 20,000 MW by 2020 and a lot more can be achieved through various publicprivate alliances.

statment.

ith 1GW of manufacturing capacity, the company has firmed its position as a forerunner in India, which is emerging to be the largest PV market in the world, the statement said. “Today we pride ourselves in being an Indian company to have fortified manufacturing capacity to 1GW. India has today come into its own as one of the largest emerging PV markets in the world and we are geared up to do our bit in the ‘Make in India’ initiative as well,” Chaudhary added. The company reported close to Rs 1,700 crore revenue in 2016-17 against that of Rs 900 crore in 2015-16.

Source:BS

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July 2017

New Energy Finance

NEW ENERGY OUTLOOK 2017

Bloomberg New Energy Finance's Annual Long-term Economic Forecast Of the World's Power Sector Global power demand grows by 58% between now and 2040, or 2% per year. Growth in power demand increasingly decouples from GDP, however – we expect the intensity of electricity consumption per unit of GDP to fall by 27% over 2016-40. We expect $10.2 trillion to be invested in new power generation capacity worldwide to 2040. Of this, 72% goes to renewables, or $7.4 trillion. Solar takes $2.8 trillion and wind $3.3 trillion. Investment in renewable energy increases to around $400 billion per year by 2040, a 2-3% average annual increase. Investment in wind grows faster than solar – wind increasing 3.4% and solar 2.3% per year on average. Wind and solar account for 48% of installed capacity and 34% of electricity generation world-wide by 2040. This is compared with just 12% and 5% today. Installed solar capacity increases 14-fold and wind capacity fourfold by 2040. We anticipate renewable energy reaching 74% penetration in Germany, 38% in the U.S., 55% in China and 49% in India by 2040 as batteries and new sources of flexibility bolster the reach of renewables. The levelized cost of new electricity from solar PV drops by 66% by 2040. By then, a dollar will buy 2.3 times as much solar energy than it wdoes today. The levelized cost of new electricity from onshore wind drops 47% by 2040, thanks to more efficient turbines and streamlined operating and maintenance procedures. Onshore wind costs fall fast, but offshore falls faster. We expect the levelized cost of offshore wind to decline 71% by 2040, helped by development experience, competition and reduced risk, and economies of scale resulting from larger projects and bigger turbines.

July 2017

Consumer-driven PV becomes a significant part of the power sector. By 2040, rooftop PV will account for as much as 24% of electricity generation in Australia, 20% in Brazil, 15% in Germany, 12% in Japan, and 5% in the U.S. and India. Electric vehicles bolster electricity use and help balance the grid. In Europe and the U.S., EVs account for 13% and 12% respectively of electricity generation by 2040. Charging EVs flexibly, when renewables are generating and wholesale prices are low, will help the system adapt to intermittent solar and wind. The growth of EVs pushes the cost of lithium-ion batteries down 73% by 2030. We expect lithium-ion batteries for energy storage to become a $20 billion per year market by 2040, a tenfold increase from today Smallscale batteries installed by households and businesses alongside PV systems accounts for 57% of installed storage capacity worldwide by 2040. By 2030, wind and PV start to undercut existing coal plants on an operational basis in some countries, prompting an acceleration in the deployment of renewables and the decline of coal generation. Only 35% of new coal power plants that are in planning ever get built. That means 369GW of projects stand to be cancelled and global demand for thermal coal in 2040 ends up 15% lower than in 2016. Global coal-fired power generation peaks in 2026. Growth in coal demand is centred on Asia, but is offset by sharp declines in Europe and the U.S. Coal-fired generation in China is set to peak within the next 10 years. Gas is a transition fuel, but not in the way most people think. Gas-fired capacity increases 16% by

2040 but gas plants will increasingly act more as a source of flexible generation needed to meet peaks and provide system stability rather than as a replacement for ‘baseload’ coal. In North America, however, where gas is plentiful and cheap, it plays a more central role, especially in the near term. Asia Pacific sees almost as much investment in generation as the rest of the world combined. China and India alone are a $4 trillion opportunity for the energy sector. China accounts for 28% and India 11% of total regional investment over 2017-40. Wind and solar both account for around a third of total investment. Powering China and India presents a $4 trillion opportunity. These countries account for 28% and 15% of all investment in power generation to 2040. Asia Pacific sees almost as much investment as the rest of the world combined, at $4.8 trillion. Of this, just under a third goes to wind, a third to solar, 18% to nuclear and 10% to coal and gas. Peak coal is in sight in Asia. Peak coal capacity occurs in 2024, and peak generation in 2028, as retirements begin to outpace new additions. By the mid-2020s, cheap wind and PV begin to ndercut new coal on a levelized basis throughout the region, trimming average installations to just 9GW a year. Coal, however, remains the bedrock of the region’s power supply, providing 34% of electricity in 2040 – a larger share than any other fuel. China will go big on renewables, with wind and solar capacity increasing eight-fold to 2040. Coal consumption in China peaks in 2026, but at a level 20% higher than today. Nevertheless, China remains the world’s largest coal consumer and emitter, with that fuel still accounting for 30% of the generation mix in 2040.

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New Energy Finance

India significantly expands its coal fleet over the next five years, adding over 40GW of new coal plants. Following that, we expect coal new build to slow but existing plant utilization to increase, pushing up coal consumption by around 3% per year through the 2020s. From 2030, solar begins to sideline coal in India, with the pace of PV additions more than doubling from the 2020s to the 2030s. Japan and South Korea shift from gas to coal, and then to solar. Gas generation declines in both countries as over 30GW of coal capacity is commissioned over the next decade – Japan and Korea are the only two members of the OECD to build significant volumes of new coal in our forecast. Power sector gas demand in Japan and South Korea declines by over 50% in the next ten years with possible ramifications for the global LNG market as the two countries account for half of current demand for seaborne gas. Australia’s electricity system becomes one of the most decentralized in the world. By 2040, around 45% of Australia’s power generating capacity is located behind-themeter. Its fossil-fuel dominated grid also transforms into a predominantly renewable system, as wind, PV and batteries replace retiring coal. European investment in renewables grows by 2.6% per year on average out to 2040, averaging $40 billion per year. Total investment in renewables across Europe reaches almost $1 trillion over 2017-40. Europe’s firm generating capacity shrinks by 29%, replaced by variable and flexible capacity. Half of European electricity supply in 2040 comes from variable renewables,

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posing challenges for grid and generators. With 97% of fossil fuel capacity in 2040 required for peak demand, under-utilized thermal plants are the norm. The changing grid creates opportunities for 103GW of new flexible capacity, including 56GW of batteries. These help with peak load, ancillary services, shifting demand or renewable supply and regulating frequency. Gas in Europe benefits from a wave of coal and nuclear retirements over the next decade, but power sector gas consumption never returns to the record level set in 2008 as the role of gas shifts from providing firm capacity to providing flexible generation. Nuclear generation drops 50% and the combination of sluggish demand, cheap renewables and coalto-gasfuel switching slashes coal use by 87% by 2040. This drives down power sector emissions by 73% over 2017-40. Installed capacity in the MENA region moves from 93% fossil fuels to 53% zero-carbon over 2017-40. The region becomes less reliant on oil and more reliant on gas. Gas provides over half of generation by 2040. In Turkey, coal and nuclear push out gas, which declines from 36% to 2% of the generation mix over 2017-40. Investment in renewables across the Americas averages $50 billion per year to 2040, to reach almost $1.5 trillion over 2017-40. Investment in solar grows faster than wind – solar increasing 1.5% and wind 0.8% per year on average. In the U.S., power sector coal consumption drops 45% as coal plants are retired and replaced by cheaper natural gas and renewables.

By 2023, onshore wind and PV are competitive with new-build gas plants in the U.S. Five years later, PV undercuts existing gas generation. PV averages 15GW of additions and $10 billion invested per year, such that more PV is added in the U.S. than any other technology. Small-scale PV grows to 140GW by 2040, yet only a minority of systems are paired with batteries as the economics remain difficult for much of the forecast period. Renewables produce 80% of Mexico’s electricity by 2040, a fourfold increase from today. Solar overtakes gas and hydro to dominate Mexico’s capacity mix, which more than triples in size to 2040. Electricity demand is expected to grow 60% from 2016 to 2040 thanks to strong economic growth, but the country also becomes 29% more efficient in how it uses electricity over that time. U.S. natural gas influences the power generation mix all across the Americas, as exports accelerate. Cross-border exports to Mexico and liquid natural gas exports further south keep gas prices in check across both continents, particularly through 2030. This allows new gas plants to displace retiring coal and nuclear in North America while offering a relatively low-cost option in parts of Latin America for new build. We expect U.S. power sector emissions in 2030 to be 30% below 2005 levels, coming very close to fulfilling the Clean Power Plan’s headline goal even in the absence of federal policy. The federal Clean Power Plan was anticipated to reduce power sector emissions by 32% below 2005 levels by 2030 and the U.S. pledge in the UNFCCC Paris Accord set an economy-wide goal of 26-28% below 2005 levels by 2025. Global power sector emissions peak in 2026 at 14.1Gt, then decline by 1% per year out to 2040. This is a steeper decline than in our previous forecast, mainly due to a faster rate of Chinese coal retirements compared with NEO 2016. We also expect India's emissions to be 44% lower by 2040 than in our NEO 2016 analysis, as that country embraces solar and invests $405 billion to construct 660GW of new PV. Although the world’s power sector emissions reach a peak within a decade, the rate of decline in emissions is not nearly enough for the climate. A further $5.3 trillion investment in 3.9TW of zerocarbon capacity will be needed place the power sector on a 2°C

July 2017

RESEARCH & ANALYSIS

Renewable Energy Employs 9.8 million People Worldwide, New IRENA Report Finds More than 9.8 million people were employed in the renewable energy sector in 2016, according to a new report from the International Renewable Energy Agency (IRENA). Renewable Energy and Jobs – Annual Review 2017, released at IRENA’s 13th Council meeting, provides the latest employment figures of the renewable energy sector and insight into the factors affecting the renewable labour market.

T “Falling costs and enabling policies have steadily driven up investment and employment in renewable energy worldwide since IRENA’s first annual assessment in 2012, when just over seven million people were working in the sector,” said IRENA Director-General Adnan Z. Amin. “In the last four years, for instance, the number of jobs in the solar and wind sectors combined has more than doubled. Renewables are directly supporting broader socio-economic objectives, with employment creation increasingly recognised as a central component of the global energy transition. As the scales continue to tip in favour of renewables, we expect that the number of people working in the renewables sector could reach 24 million by 2030, more than offsetting fossil-fuel job losses and becoming a major economic driver around the world,” Mr. Amin added.

July 2017

he Annual review shows that global renewable-energy employment, excluding large hydropower, reached 8.3 MN in 2016. When accounting for direct employment in large hydropower, the total number of renewable-energy jobs globally climbs to 9.8 MN. China, Brazil, the United States, India, Japan and Germany accounted for most of the renewable-energy jobs. In China for example, 3.64 MN people worked in renewables in 2016, a rise of 3.4 percent. IRENA’s report shows that solar photovoltaic (PV) was the largest employer in 2016, with 3.1 million jobs — up 12 percent from 2015 — mainly in China, the United States and India. In the United States, jobs in the solar industry increased 17 times faster than the overall economy, growing 24.5 percent from the previous year to over 260,000. New wind installations contributed to a 7 percent increase in global wind employment, raising it up to 1.2 MN jobs. Brazil, China, the United States and India also proved to be key bioenergy job markets, with biofuels accounting

for 1.7 MN jobs, biomass 0.7 MN, and biogas 0.3 MN. “IRENA has provided this year a more complete picture on the state of employment in the renewables sector, by including large hydropower data. It is important to recognise these additional 1.5 million working people, as they represent the largest renewable energy technology by installed capacity,” said Dr. Rabia Ferroukhi, Head of IRENA’s Policy Unit and Deputy Director of Knowledge, Policy and Finance. The report finds that globally, 62 percent of the jobs are located in Asia. Installation and manufacturing jobs continue to shift to the region, particularly Malaysia and Thailand, which has become global centre for solar PV fabrication. In Africa, utility-scale renewable energy developments have made great strides, with South Africa and North Africa accounting for threequarters of the continent’s 62,000 renewable jobs.

“In some African countries, with the right resources and infrastructure, we are seeing jobs emerge in manufacturing and installation for utilityscale projects. For much of the continent however, distributed renewables, like off-grid solar, are bringing energy access and economic development. These off-grid mini-grid solutions are giving communities the chance to leap-frog traditional electricity infrastructure development and create new jobs in the process,” Dr. Ferroukhi said.

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RESEARCH & ANALYSIS

IEEFA Report: State-Owned Utility NTPC Takes a Lead Role in India’s Electricity Transition The state-owned Indian utility NTPC is playing a key role in India’s push toward retooling its electricity-generation system, according to a new report by the Institute for Energy Economics and Financial Analysis (IEEFA). The report—“NTPC as a Force in India’s Electricity Transition: Leading the Way Toward a New Energy Economy”details how NTPC, formerly known as the National Thermal Power Corporation, is positioning itself to support the national government’s drive toward ambitious national renewable energy targets.

“Despite its deep historical connection to coal-fired electricity generation technology, NTPC has recently moved to the forefront of India’s energy transition and stands to be the country’s key new energy enabler,” said Tim Buckley, the lead author of the report and IEEFA’s director of energy finance studies, Australasia. “It is clear that renewable energy offers a cheaper way to provide power,” Buckley said. “Importantly, solar is now cheaper than coal-fired power even before taking into account the externalities of coal (pollution, emissions and water use) that hold back the nation’s development.” uckley noted that as a publiclyowned utility, NTPC is responsible simultaneously for supporting Indian economic growth and providing reliable, affordable electricity. While this responsibility has arguably required expansion of coal-fired power generation in the past, times have changed—and indeed 2017 has already seen several watershed moments that have signaled a new era in India’s electricity sector.With the average new solar tariff in 2017 below NTPC’s coal-fired power tariff for its existing fleet, renewable energy now offers a cheaper way to provide power,” Buckley said. The report chronicles an ongoing Indian electricity-sector transformation that is increasingly being spearheaded by NTPC and that stands to have global ramifications for the global thermal coal sector, which Buckley said “faces a technology-driven structural decline.” NTPC, which provides about a quarter of India’s electricity, is among the top 10 coal-fired power generators in the world, ranking third in coal-fired capacity and seventh in generation. The report notes that major utilities in many countries are at various stages of business-model transformation in response to a rapidly-changing technology. While early movers such as Enel SpA of Italy and NextEra Energy in the U.S. have become transition leaders, others have lagged. “NTPC must ensure it does not follow the well-worn path towards shareholder value destruction taken by E.On and RWE of Germany and Engie in France,” the

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report state. “By beginning their transition too late these companies have significantly underperformed financially.” Buckley said the transformation of the Indian electricity sector is happening now under Energy Minister Piyush Goyal’s leadership, and that the rate of change is accelerating as renewable costs come down and technology innovation continues. “Global capital inflows to India are clear endorsements of this program. NTPC stands to gain from an acceleration of its renewable energy roll-out and further facilitation of the Indian government’s ambitious renewable energy targets.” “It appears that a growing proportion of NTPC’s investment plan is being redirected into building modern generation capacity that has a much lower emissions profile and significantly reduced externalities,” the report states. “Such transformation is key to sustaining India’s economic growth prospects.” Core findings of the report: NTPC has become a key participant in India’s ongoing energy transition, having emerged as the evolved into India’s prime off-taker of the rapidly expanding private renewable energy generation sector. Solar generation is now cheaper than NTPC’s tariff for existing coal-fired power plants as a wave of record-low solar tariff bids drive costs down. NTPC leads India in its drive to cease imports of thermal coal, an endorsement of the government’s efforts to improve domestic coal logistics and increase production

from Coal India, a move that has significant implications for the global thermal coal market. NTPC’s strong balance sheet underpins renewable power offtake and is crucial for India’s ongoing development, improving the bankability of renewable energy and leaving technology coal-fired power further behind on cost. NTPC’s current developmentpipeline list represents its past more than its future, as renewable energy projects outpace coal-fired proposals. Overseas investors are seeking more opportunities in Indian renewables projects and abandoning the thermal power sector; major investors in India’s renewableenergy boom include Goldman Sachs, JP Morgan, Morgan Stanley, Macquarie Group, Sembcorp, Enel, EDF, Engie, SoftBank and Brookfield. NTPC would do well to focus its foreign investments on renewables rather on coal-fired projects, which face considerable challenges around environmental concerns and the rise of responsible investment trends in developed and developing countries alike. Electricity utilities (Enel SpA, NextEra Energy Inc.) that are leading the energy transition are outperforming those left behind (Engie, E.On, RWE). “With coal-fired power plant utilization rates in structural decline in India, NTPC would benefit—and be better able to meet its corporate goals—by accelerating its renewable energy roll-out and further facilitating the Indian government’s ambitious renewable energy targets,” the report concludes.

July 2017

ELECTRIC VEHICLES

ACME launches India’s first electric vehicle charging station

Hero Future Energies to set up solar charging stations for electric vehicles Hero Future Energies Pvt. Ltd, a company promoted by the Munjal family, plans to enter the battery storage business and set up charging stations to tap India’s emerging electric vehicles (EV) market, chief executive officer Sunil Jain said.

Solar power developer ACME Group said the company has launched India’s first battery swapping and charging station for electric vehicles.

he company said it has provided battery swapping and charging stations ‘EcoCharge’ to taxi aggregator Ola for their pilot project at Nagpur in which 200 vehicles including bus, auto and car— all running on electricity was launched in the first stage on May 26, 2017.The project was flagged off by road and transport minister Nitin Gadkari last week in which Ola has invested more than Rs 50 crore in electric vehicles and charging infrastructure, starting with 50 plus charging points across four strategic locations in Nagpur. ACME said with this project, it plans to replicate similar swapping and charging infrastructure in other cities of India to facilitate adoption of electric mobility. “I see a future of energy storage alongwith solar to provide 24×7 power and oil-free transportation. This should help India to solve many problems like reducing pollution, reducing oil import and will enable many industries to come up and increase employment,” - said Mr. Manoj Kumar Upadhyay, Founder and Chairman, ACME Group.

ACME said it offers lithium batteries with its in-house developed intelligent BMS technology for electric mobility and stationary applications ranging from kilo watt hour to mega watt hour. ACME has a lithium battery manufacturing facility at Rudrapur, Uttarakhand.

he plan comes at a time when the ‘Bharat Charger’ specifications for electric vehicles are being firmed up. The department of heavy industries (DHI) has submitted its report on these specifications for charging stations to a government committee on EVs. “Technology is changing very fast. We are looking at solar charging stations,” Jain said in an interview. The plan involves charging batteries and then providing them to vehicles with drained batteries after they complete a trip. Interestingly, Ather Energy, backed by India’s largest two-wheeler company Hero MotoCorp Ltd, also plans to enter the charging infrastructure business in India. Pawan Munjalpromoted Hero MotoCorp in October 2016 picked up a 26-30% stake in the Bengaluru-based electric scooter maker Ather Energy. India’s EV push has attracted many companies. India’s first multimodal electric vehicle project was inaugurated last week in Nagpur along with an electric charging station by cab aggregator Ola. “

The specs for Bharat Charger are being done. There is a lot of interest,” said a person involved with the government’s EV plan, requesting anonymity. Queries emailed to the spokespersons of the ministries of heavy industry, road transport and highways and new and renewable energy remained unanswered. India has ambitious plans for a mass shift to electric transport by 2030 so that all vehicles on Indian roads by then-both personal and commercial-are powered by electricity. Hero Future Energies, which is planning to put up one large grid-connected solar plant of up to 100 megawatts capacity in South-East Asia, apart from expanding in Africa and India, plans to be present across the solar energy value chain.

Source:EETI

July 2017

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ELECTRIC VEHICLES

NTPC’s foray into EV Charging business

The firm is setting up solar roof-top pilot projects along with storage. The idea is to get into businesses such as integration of batteries and manufacturing them in the long run. However, there is no plan to manufacture cells. “After 2020, the battery price is going to become one-third of what it is today,” Jain said. With storage being the next frontier for India’s clean energy push, the batteries in EVs offer a potential solution. India’s EV programme would help with grid balancing, besides complementing the government’s push for solar power, which is generated during the day and can be stored in EV batteries. The government plans to put an electric vehicle policy in place by the end of this year. Its intent was articulated by the goods and services tax (GST) Council, which has set a 12% tax rate for electric vehicles, compared with 28% plus cess for petrol and diesel cars and hybrid vehicles. The government think tank NITI Aayog has recommended fiscal incentives to electric vehicle manufacturers and discouraging privately-owned petrol- and diesel-fuelled vehicles. The EV plan has also found its fair share of naysayers including the country’s largest car maker Maruti Suzuki India Ltd. It will be impossible for the auto industry to shift to electric vehicles immediately, Maruti Suzuki CEO Kenichi Ayukawa said earlier this month, in the context of the government’s plan to have an electric vehicle policy in place by December.

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NTPC Has Forayed Into EV Charging Business And Set Up Charging Stations At Multiple Locations. First Charging Station Has Been Set Up At Its Offices In Noida And Delhi. NTPC Is Planning To Set Up Many Such Charging Stations Across Delhi/ NCR And Other Cities In Near Future.

NTPCs 117 MW capacity commissioned at Mandsaur project New Delhi, Jun 2- State-run power giant NTPC today said that 117 MW out of 250 MW of Mandsaur solar power projects is commissioned, taking the total installed solar capacity of the company to 737 MW.

“117 MW out of 250 MW of Mandsaur Solar Power Project of NTPC Limited has been commissioned,” NTPC Ltd said in a statement. The installed capacity of NTPCs solar power projects has become 737 MW, it said. The total installed capacity of NTPC on standalone basis is now 44,311 MW and that of NTPC group has become 51,527 MW. PTI KKS MKJ

July 2017

ELECTRIC VEHICLES

Electric Vehicles Have Another Record Year, Reaching 2 Mn Cars In 2016 The number of electric cars on the roads around the world rose to 2 million in 2016, following a year of strong growth in 2015, according to the latest edition of the International Energy Agency’s Global EV Outlook.

July 2017

hina remained the largest market in 2016, accounting for more than 40% of the electric cars sold in the world. With more than 200 million electric two-wheelers and more than 300,000 electric buses, China is by far the global leader in the electrification of transport. China, the US and Europe made up the three main markets, totalling over 90% of all EVs sold around the world.

Electric car deployment in some markets is swift. In Norway, electric cars had a 29% market share last year, the highest globally, followed by the Netherlands with 6.4%, and Sweden with 3.4%.

he electric car market is set to transition from early deployment to mass market adoption over the next decade or so. Between 9 and 20 million electric car could be deployed by 2020, and between 40 and 70 million by 2025, according to estimates based on recent statement from carmakers. Still, electric vehicles only made up 0.2% of total passenger light-duty vehicles in circulation in 2016. They have a long way to go before reaching numbers capable of making a significant contribution to greenhouse gas emission reduction targets. In order to limit temperature increases to below 2°C by the end of the century, the number of electric cars will need to reach 600 million by 2040, according to IEA’s Energy Technology Perspectives. Strong policy support will be necessary to keep EVs on track.

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ELECTRIC VEHICLES

he analysis shows that fleet procurement is an important means of encouraging early EV uptake. Fleet operators, both public and private, can contribute significantly to the deployment of EVs, first from demand signals that they send to the market, and second thanks to their broader role as amplifiers in promoting and facilitating the uptake of EVs by their staff and customers. In that respect, four major US cities – Los Angeles, Seattle, San Francisco and Portland – are leading a partnership of over 30 cities to mass-purchase EVs for their public fleets including police cruisers, street sweepers and trash haulers. The group is currently seeking to purchase over 110,000 EVs, a significant number when compared to the 160,000 total EVs sold in the United States in 2016.

The report offers a comprehensive collection of national-level data on EV deployment based on primary data collected from member governments of the Electric Vehicle Initiative (EVI). The EVI is a multi-government policy forum established in 2009 under the Clean Energy Ministerial (CEM), dedicated to accelerating the deployment of EVs worldwide.

ities are taking leadership roles in encouraging EV adoption, often because of concerns about air quality. Major urban centres often achieve higher EV market shares compared to national averages. A third of global EV sales took place in 14 cities in 2015. Paris, for instance, has mandated that any electric car is allowed to recharge at the re-charge stations of its car-sharing program, called Autolib. Amsterdam has a unique strategy of offering the installation of charging points on public parking spaces to people who make a request, ensuring that charging infrastructure is installed where it’s actually needed. London for its part encourages EV adoption by waiving its congestion charge.

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Clear And Ambitious Policy Support Is Vital To Keeping The Growth Of Evs On Track With Iea Low-Carbon Scenarios, To Improve Urban Air Quality, And Diversify Transport Energy Sources. Despite Impressive Improvements In Costs And Energy Density Over The Past Decade, Battery Packs Are Still Expensive, Driving Up Retail Prices. Financial Incentives For EV Adoption And Taxes On Fossil Fuels Will Continue To Be Important In The Current Phase Of EV Technology Deployment To Initiate And Reinforce A Positive Feedback Loop That, Through Increasing Sales, Production Scale-Ups And Technology Learning, Will Further Support Cost Reductions For Batteries And Other Components. Source : IEA

VI members will also launch the EV30@30 campaign during the Eighth CEM Meeting on June 8 in Beijing. The campaign will set a collective aspirational goal for all EVI members of a 30% market share for electric vehicles in the total of all passenger cars, light commercial vehicles, buses and trucks by 2030.

The campaign will also raise support for accelerated deployment of charging infrastructure, commitments on fleet procurement, and exchange and replication of best practices for the promotion of EVs in cities.

July 2017

RENEWABLE ENERGY

IRENA GLOBAL ATLAS 3.0:

Resource Data For Renewable Energy Professionals Energy planners developing solar power and other renewable energy projects now have better access to free data and tools, with the rollout of IRENA’s Global Atlas 3.0. Updated with new comprehensive data and features, Global Atlas 3.0 is designed with simplicity, contribution and collaboration in mind, to assist in the early stages of renewable energy project development.

“The new Global Atlas update brings huge improvements for developers, market analysts, energy planners and policy makers. This will lead to more renewable energy projects coming to life and new markets penning up for renewable energy investments,” says Henning Wuester, Director of IRENA’s Knowledge, Policy and Finance Centre.

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free and publicly open project, Global Atlas has been evolving and improving for the last six years. The online platform seeks to assist energy prospecting for renewable energy sites by providing easy access to accurate maps, and by creating a universal outlet for renewable resource map makers — saving companies, public institutions, universities, and national entities the trouble and cost of developing their own platforms and user bases. The Global Atlas platform has benefited from breakthroughs in the quality and level of detail of publicly available data. Six years ago, wind and solar map had a spatial resolution of just 50 km, but this has now improved down to 1km. Having gained access to this high quality data from research institutions, private companies, development banks and national governments, IRENA is sharing it freely on Global Atlas fostering renewable energy deployment globally. Taking a user-focused approach, with this update the Global Atlas now allows for much of the data to be downloaded.

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RENEWABLE ENERGY

Simplicity, contribution, collaboration

S “We’ve focused on the service that brings value to our users in their daily work, and are now emphasising prospecting, user collaboration, and the promotion of our data providers and partners,” says Henning Wuester. “Through close collaboration with our partner countries, institutes and private providers we can now bring additional value to business development in the renewables sector.”

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taying true to its simplicity, contribution, collaboration mantra, Global Atlas 3.0 unveils new user functionality and an upgraded interface that improves the user’s experience and fosters a map sharing community. “3.0 is a complete reworking of the platform, that brings a collaborative dimension that people have become accustomed to on platforms like YouTube or WhatsApp,” says Abdulmalik Oricha Ali, an IRENA Associate Programme Officer working on the Global Atlas. In 3.0, users now have capabilities to easily share their maps with the rest of the Global Atlas community. User created maps can be privately sent to friends and colleagues, easily embedded on other websites, and ultimately promoted on the community section of the Global Atlas website. “Through enhanced map sharing and the new map commenting function, we hope to see greater collaboration in renewable energy map making across institutions and borders,” says Ali. New analysis capabilities, a PV battery simulator, a solar waterheater simulator, and a grid-connected solar PV system simulator are all included in the updated tool. Importantly, maps now credit individual data providers by displaying the source very visibly on the interface.

New and upcoming

n December 2016, IRENA launched its bioenergy production simulator, and called on the public to test this new platform and validate its data. That testing period is now complete and the bioenergy simulator and has been fully integrated into the Global Atlas platform. Further development on the Global Atlas is ongoing, and in the coming months a new wind power cost simulator will be introduced, that combines wind data from the Danish Technical University and IRENA’s costs data, which is already open to the public and easy to access through its dashboards.

July 2017

SOLAR MARKET

U.S. Solar Market Adds 2 GW of PV in Q1 2017

Following rapid growth across the industry in 2016, the United States solar market added 2,044 megawatts of new capacity in the first quarter of 2017.

s installations grow, prices continue to fall to new lows, with utility-scale system prices dropping below the $1 per watt barrier for the first time, according to GTM Research and the Solar Energy Industries Association’s (SEIA) latest U.S. Solar Market Insight Report. Q1 was the sixth straight quarter in which more

“The solar market clearly remains on a strong upward trajectory,” said Abigail Ross Hopper, SEIA’s president and CEO. “Solar is delivering more clean energy, adding jobs 17 times faster than the U.S. economy and creating tens of billions of dollars in investment. With its cost-com. petitiveness, we know solar will continue to play a growing role in America’s energy portfolio.”

July 2017

than two gigawatts of solar photovoltaics (PV) and more than one gigawatt of utilityscale PV was installed. The residential and non-residential PV markets are both expected to experience year-over-year growth, even as the quarterly numbers saw a drop from last year’s record-setting pace, the report said. The utility-scale segment continues to drive the market, representing more than half of all PV installed during the quarter. Much of the capacity comes from projects that were originally slated for completion in 2016, but ended up being pushed back due to the extension of the federal Investment Tax Credit. And this entire year is expected to benefit from those “spill-over” projects.

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SOLAR MARKET

“Utility solar is on the cusp of another boom in procurement,” said Cory Honeyman, GTM Research’s associate director of U.S. solar. “The majority of utility solicitations are focused on maximizing the number of projects that can come online with a 30 percent federal Investment Tax Credit in 2019, or later by leveraging commence construction rules.”

he non-residential solar market—which includes commercial, industrial and community solar installations— grew 29 percent year-over-year, but was down 39 percent from a record high fourth quarter 2016. The report highlighted Minnesota’s growing community solar market. The state nearly doubled its cumulative community solar deployment in Q1. Several other states not as well known for their solar markets saw particularly large jumps in installations this quarter, including Idaho and Indiana. Meanwhile, emerging state markets such as Utah, Texas and South Carolina continued their growth. ore than a half-gigawatt of residential PV was installed in the quarter, down 17 percent from the first quarter of last year. Part of the slowdown can be attributed to national installers pulling back operations in unprofitable geographies and customer acquisition challenges in more mature residential state markets like California. According to the report, residential PV installations in California will fall

year-over-year for the first time this decade. Despite this, California remains the largest state market for residential solar installations. GTM Research forecasts that 12.6 gigawatts will come online in 2017, 10 percent less than 2016’s boom. Total installed U.S. solar PV capacity is expected to nearly triple over the next five years, and by 2022, more than 18 gigawatts of solar PV capacity will be installed annually. owever, downside risk looms over the long-term outlook for U.S. solar, due to a new trade dispute initiated by Suniva. According to the report, if Suniva’s petition for a minimum silicon PV module price of 78 cents per watt is successful, it could raise system costs between 13 and 35 percent, depending on segment. While it remains unclear how the International Trade Commission will ultimately rule on this petition by Suniva, the approval of the petition as initially filed would result in substantial downside revisions to the GTM Research forecast across all three segments.

Key findings from the report • In Q1 2017, the U.S. market installed 2,044 MWdc of solar PV. • In Q1, solar was the second largest source of new electric generating capacity additions brought on-line, responsible for 30% of new generation, second only to natural gas. • Despite accounting for its lowest share of the residential market at 35%, California is still the largest state market for residential PV, though contraction in the state was the primary driver behind the national residential market falling 17% over Q1 2016. • Community solar continues to be a bright spot for non-residential PV with deployments in Minnesota helping the segment grow more than 30% over Q1 2016.

• Installed system prices continue to drop across all market segments, with fixed-tilt utility-scale systems dipping under the $1/watt barrier for the first time. • GTM Research forecasts that 12.6 GWdc of new PV installations will come on-line in 2017, down 10% from a record-breaking 2016. • Total installed U.S. solar PV capacity is expected to nearly triple over the next five years. By 2022, more than 18 GW of solar PV capacity will be installed annually. • Suniva’s filing of a Section 201 petition to impose trade remedies on foreign-manufactured cells and modules threatens to significantly reduce PV installations across all segments if accepted in its current state.

• The nuances of this case are detailed in the full report. Source:PRN

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July 2017

SOLAR MARKET

Another Record Breaking Year for Renewable Energy::

More Renewable Energy Capacity For Less Money Record power capacity of 161 GW added, for 23% less investment (USD 241.6 billion)

EN21 published its Renewables 2017 Global Status Report (GSR), the most comprehensive annual overview of the state of renewable energy. Additions in installed renewable power capacity set new records in 2016, with 161 gigawatts (GW) installed, increasing total global capacity by almost 9% over 2015, to nearly 2,017 GW. Solar PV accounted for around 47% of the capacity added, followed by wind power at 34% and hydropower at 15.5%. Renewables are becoming the least cost option. Recent deals in Denmark, Egypt, India, Mexico, Peru and the United Arab Emirates saw renewable electricity being delivered at USD 0.05 per kilowatthour or less. This is well below equivalent costs for fossil fuel and nuclear generating capacity in each of these countries. Winners of two recent auctions for offshore wind in Germany have done so relying only on the wholesale price of power without the need for government support, demonstrating that renewables

July 2017

can be the least cost option. The inherent need for “baseload” is a myth. Integrating large shares of variable renewable generation can be done without fossil fuel and nuclear “baseload” with sufficient flexibility in the power system – through grid interconnections, sector coupling and enabling technologies such as ICT, storage systems electric vehicles and heat pumps. This sort of flexibility not only balances variable generation, it also optimizes the system and reduces generation costs overall It comes as no surprise, therefore that the number of countries successfully managing peaks approaching or exceeding 100% electricity generation from renewable sources are on the rise. In 2016, Denmark and Germany, for example, successfully managed peaks of renewables electricity of 140% and 86.3%, respectively. Global energy-related CO2 emissions from fossil fuels and industry remained stable for a third year in a row despite a 3% growth in the global economy and an increased demand for energy. This can be attributed primarily to the decline of coal, but also to the growth in renewable energy capacity and to improvements in energy efficiency.

Other positive trends include: Innovations and breakthroughs in storage technology will increasingly provide additional flexibility to the power system. In 2016, approximately 0.8 GW of new advanced energy storage capacity became operational, bringing the year-end total to an estimated 6.4 GW. Markets for mini-grids and stand-alone systems are evolving rapidly and PayAs-You-Go (PAYG) business models, supported by mobile technology, are exploding. In 2012, investments in PAYG solar companies amounted to only USD 3 million; by 2016 that figure had risen to USD 223 million (up from USD 158 million in 2015).

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SOLAR MARKET But the energy transition is not happening fast enough to achieve the goals of the Paris Agreement.

nvestments are down. Although global investment in new renewable power and fuel capacity was roughly double that in fossil fuels, investments in new renewable energy installations were down 23% compared to 2015. Among developing and emerging market countries, renewable energy investment fell 30%, to USD 116.6 billion, while that of developed countries fell 14% to USD 125 billion. Investment continues to be heavily focused on wind and solar PV, however all renewable energy technologies need to be deployed in order to keep global warming well below 2C.

Dr. Arthouros Zervos, Chairman of REN21, said “The world is adding more renewable power capacity each year than it adds in new capacity from all fossil fuels combined. One of the most important findings of this year’s GSR, is that holistic, systemic approaches are key and should become the rule rather than the exception. As the share of renewables grows we will need investment in infrastructure as well as a comprehensive set of tools: integrated and interconnected transmission and distribution networks, measures to balance supply and demand, sector coupling (for example the integration of power and transport networks); and deployment of a wide range of enabling technologies.

ransport, heating and cooling sectors continue to lag behind the power sector. The deployment of renewable technologies in the heating and cooling sector remains a challenge in light of the unique and distributed nature of this market. Renewables-based decarbonisation of the transport sector is not yet being seriously considered, or seen as a priority. Despite a significant expansion in the sales of electric vehicles, primarily due to the declining cost of battery technology, much more needs to be done to ensure sufficient infrastructure is in place and that they are powered by renewable electricity. While the shipping and aviation sectors present the greatest challenges, government policies or commercial disruption have not sufficiently stimulated the development of solutions.

ossil fuel subsidies continue to impede progress. Globally, subsidies for fossil fuels and nuclear power continue to dramatically exceed those for renewable technologies. By the end of 2016 more than 50 countries had committed to phasing out fossil fuel subsidies, and some reforms have occurred, but not enough. In 2014 the ratio of fossil fuel subsidies to renewable energy subsidies was 4:1. For every USD 1 spent on renewables, governments spent USD 4 perpetuating our dependence on fossil fuels.

Christine Lins, Executive Secretary of REN21, explains: “The world is in a race against time. The single most important thing we could do to reduce CO2 emissions quickly and cost-effectively, is phase-out coal and speed up investments in energy efficiency and renewables. When China announced in January that it was cancelling more than 100 coal plants currently in development, they set an example for governments everywhere: change happens quickly when governments act – by establishing clear, long-term policy and financial signals and incentives.”

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July 2017

SOLAR ACHIEVEMENT

Three Years’ Achievements And Initiatives Of The Ministries Of Power, Coal, New And Renewable Energy And Mines Union Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines, Shri Piyush Goyal, addressed the media on achievements of Ministries under his charge in the last three years. Shri Goyal also interacted with the media present at 7 cities – Ahmedabad, Bengaluru, Bhubaneshwar, Jaipur, Kolkata, Lucknow and Patna through video conferencing.

Shri Goyal informed that achieving the Mission of 24×7 Affordable Clean ‘Power for All’ and ensuring the optimum utilization of natural resources for national development are very critical to ‘Ujwal Bharat’ which will help in realizing Prime Minister of India, Shri Narendra Modi’s vision of New India. Over the past three years, the Ministries of Power, Coal, New and Renewable Energy and Mines have made considerable progress towards achieving this goal.

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he Minister talked about how the four Ministries have worked on 6 fundamental principles to achieve the goal of Ujwal Bharat. These are SULABH (Accesible Power), SASTI (Cheap Power), SWACHH (Clean Power), SUNIYOJIT (Well Planned Infrastructure; Preparing India for the Future), SUNISHCHIT (Assured Power for All) and SURAKSHIT (Empowering each Citizen of India with Transparent Governance and Securing their Future). Shri Goyal laid emphasis that all the stakeholders concerned with the four sectors, viz., Union Government, State Governments, Power sector players (Public and Private), Mining Sector participants and investors, consumers, citizens etc have to work in coordination, with the sole aim of SEWA (Service) to each citizen of India.

July 2017

Detailing out the major achievements of the four Ministries in brief, Shri Goyal enumerated the following below:

Coal

To ensure adequate coal for electricity, shortage to surplus, Government has set a goal to produce 100 crore tonnes of domestic coal by 2019-20. The 9.2 crore tonne increase in production of coal in the three years since 2014. This increase took about seven years before 2014. While nearly twothirds of the power plants were reeling critical coal stocks in 2014, there is no shortage of coal now. Through reduced coal imports to make the nation self-reliant, foreign exchange worth Rs. 25,900 crores have been saved. The principle of “less coal for more power” has yielded results. In 2016-17, 0.63 kgs of coal was used to produce 1 kWh of electricity (specific coal consumption), versus 0.69 kgs in 20132014, a reduction of 8%. This ensures cheaper as well as cleaner electricity. Further, coal linkage rationalization of 4 crore tonnes of coal will result in potential savings of about Rs. 3,000 crores.

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SOLAR ACHIEVEMENT

Power

All States have signed the ‘Power for All’ agreements highlighting Government’s commitment to the principle of Cooperative Federalism. SHAKTI (Scheme for Harnessing and Allocating Koyala Transparently in India) is a transformational policy for auction and allotment of coal linkages and will lead to affordable power, access to coal and accountability in the allocation of coal. The Mega Power Policy will facilitate competitive bidding for future Power Purchase Agreements and ensure long term project viability.

The highest ever 60GW addition in conventional power, about 40% increase in transformation capacity, and over one-fourth increase in transmission lines since April 2014-March 2017, have made India a power surplus country, with no shortage of electricity or coal. ‘One Nation, One Grid, One Price’ was further strengthened with surplus electricity available at affordable rates for States. For the first time, India became a net exporter of electricity in 2016-17. UDAY (Ujwal DISCOM Assurance Yojana), as a comprehensive reform of the distribution sector saw progress, with savings of nearly Rs. 12,000 crores for DISCOMs due to issuance of UDAY Bonds worth Rs. 2.32 lakh crore. These savings will help in providing affordable power to consumers. Through reforms, India’s ranking in ‘Ease of Getting Electricity’ by the World Bank rose from 99 in 2015 to 26 in 2017. Government is driven by ‘Antyodaya’ – serving the last man at the bottom of the pyramid, based on the philosophy of Pandit Deen Dayal Upadhyaya. The birth centenary year of this great philosopher, humanist and nationalist is being commemorated as Garib Kalyan Varsh. The flagship scheme for rural electrification (DDUGJY – Deen Dayal Upadhyaya Gram Jyoti Yojana) has received special attention. Less than 4,000 of the 18,452 remaining un-electrified villages (as of 1st April 2015) remain, and will be electrified by May 2018. To ensure light in not just every village but every home, the Government has set the target of electrifying every household by 2022. About 4.5 crore rural households remain, as per data submitted by the States.

India has received world recognition for its energy efficiency initiatives. More than 23 crore LED bulbs have been distributed under UJALA (Unnat Jyoti by Affordable Electricity for All), and this has served a twofold purpose – helped save Rs. 12,400 crores in electricity bills, and reduced CO2 emissions by over 2.5 crore tonnes annually.

New & Renewable Energy

As declared emphatically by the Prime Minister of India remains fully committed to protecting the environment, which is an Article of Faith for us. In 2016-17, India crossed major milestones in the mission of achieving 175 GW of renewable power by 2022. By introducing competitive bidding, Government has ensured that renewable energy is affordable and attractive for consumers. 2016-17 saw the lowest tariffs in both solar (Rs. 2.44) and wind (Rs. 3.46) energy. In a groundbreaking development, 2016-17 also marks the first year when net capacity addition of renewable energy was higher than that conventional energy. The past year also saw the highest ever addition of solar and wind power.

Mining

Through a combination of sound policy and technology, the Government has embarked on a plan to bring transparency to the mining sector and optimize utilization of natural resources. The National Mineral Exploration Policy 2016 aims to accelerate exploration through National Aero-Geophysical Mapping Project, which will acquire data on 27 lakh line kms of aerogeophysical data by 2019, versus 7 lakh line kms in the last 30 years. Amending the legislative framework for allotment of offshore blocks will kick start offshore mining activity. Transparent auction of 24 mineral blocks will lead to estimated revenue of over Rs. 1 lakh crore to the States over the lease period of the mines. Using space technology, the Mining Surveillance System (MSS) acts as an eye in the sky to check illegal mining. To ensure that people affected by mining benefit from this activity, Government has started Pradhan Mantri Khanij Kshetra Kalyan Yojana (PMKKKY), which has already covered 11 out of 12 mineral-rich states. The District Mineral Foundation (DMF) under PMKKKY has collected about Rs. 7,150 crores from mining in 2016-17, which will be used for education, healthcare and welfare measures specifically for mining affected people and areas.

Accountability and Transparency through Mobile Apps Government is also operating under the highest standards of transparency and accountability, with ‘consumer is king’, at the heart of all efforts. The launch of various apps to track the functioning of various departments and schemes is part of this. Some of the apps launched in the past year include URJA to track electricity situation in urban areas and the progress of the Integrated Power Development Scheme (IPDS), TARANG to track transmission projects and URJA MITRA for power cut information. All the apps of the four Ministries can be downloaded by giving a missed call number to 18002003004.

Other dignitaries present on the occasion were Shri P.K. Pujari, Secretary Power, Shri Susheel Kumar, Secretary Coal, Shri Arun Kumar, Secretary, Mines and other senior officers of the four Ministries and PSUs under them. Source: PIB

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July 2017

Policy AND REGULATIONS

Green Bond Guidelines Notified - Key To Facilitate Investments In Renewables And Clean Energy Article by Manisha Shroff, Madhuparna Dasgupta and Oindrila Bhowmik

Recent measures have been approved by SEBI to deepen the Indian bond market, where green bonds were identified as key in helping India meet its ambitious target of building 175 gigawatts of renewable energy capacity by the year 2022, which requires a massive estimated funding of over USD 200 billion. Against this backdrop, SEBI has issued a circular on 30 May 2017 setting out disclosure norms which would govern the issuance and listing of “green bonds” (Green Bond Guidelines), in addition to the existing SEBI (Issue and Listing of Debt Securities) Regulations, 2008 (ILDS Regulations).

July 2017

he Green Bond Guidelines were preceded by a concept paper on green bonds issued by SEBI on 3 December 2015 which highlighted the key features and benefits of green bonds and a memorandum dated 11 January 2016 which proposed certain disclosure requirements for the issue of green bonds. A green bond is like any other bond, the only difference being that in case of a green bond issue, the proceeds are ear-marked solely for use towards financing of ‘green’ projects (such as renewable energy deployment, water, clean transportation, and climate adaptation efforts). Recent transactions have demonstrated the demand for and growth of green bonds in India. The first green bond issue in India was by Yes Bank Limited in 2015 for INR 1000 crores which was oversubscribed. This was closely followed by the green bond issue by CLP India for INR 600 crores for its wind portfolio, India’s first certified climate bond issue by Hero Future Energies for INR 300 crores and the first internationally certified green bond issue by Axis Bank Limited for raising USD 500 million which was listed on the London Stock Exchange. Interestingly, the International Finance Corporation (IFC) issued green Masala bonds on the London Stock Exchange in August 2015, the proceeds of which were to be utilized for investing in Yes Bank’s green bond issuance. NTPC also raised INR 2000 crores through green Masala bonds last year for its clean energy projects. The Green Bond Guidelines demonstrate SEBI’s recognition of the increasing need of dedicated funds for clean energy projects.

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Policy AND REGULATIONS

Highlights of the Green Bond Guidelines The key features of the Green Bond Guidelines are detailed as follows: Expansive definition of “Green Debt Securities”: The Green Bond Guidelines widely define “Green Debt Securities” to mean funds raised for utilisation in projects and assets falling under certain specified categories such as: • • • • •

Renewable and sustainable energy (wind, solar, bioenergy, other sources of energy which use clean technology etc); Clean transportation including mass/public transportation etc; Sustainable water management including clean and/or drinking water, water recycling etc; Climate change adaptation; Energy efficiency including efficient and green buildings;

• • •

Sustainable waste management including recycling, waste to energy, efficient disposal of wastage; and Sustainable land use including sustainable forestry and agriculture and afforestation etc. and biodiversity conservation. The scope of the definition has been kept wide to include most types of green projects and SEBI has been empowered to include any other category of projects from time to time.

Disclosures in Offer Documents/Disclosure Documents for Green Debt Securities: The Green Bond Guidelines stipulate the following disclosures and other obligations for the issuing entity which are in addition to the typical disclosure norms applicable to any other type of bond issuance under the ILDS Regulations:

Statement on environmental objectives of the issue of the Green Debt Securities; •

• • •

Brief details of the decision-making process the issuer has followed or intends to follow in determining the eligibility of project(s) and/or asset(s) for which green bonds are being issued; Details of the system/procedures to be employed for tracking the deployment of the issue proceeds; Details of end utilisation of the proceeds; and Appointment of an independent third-party reviewer/ certifier, for reviewing /certifying the processes including project evaluation and selection criteria, project catego-

•

ries eligible for financing by Green Debt Securities. It is important to note that refinancing of existing green projects/assets has been recognized as an acceptable end-use. Further, the Guidelines do not mandate an escrow mechanism to be installed but require the tracking procedure for deployment of funds to be detailed in the disclosures. Whilst the appointment of a third party reviewer/certifier is optional and the prerogative of the issuer, any such appointment should be disclosed in the offer documents.

Continuous Disclosure Requirements: Apart from the disclosures to be made by the issuer as a part of the offer document/disclosure document, the issuer is required to follow a set of continuous obligations and periodically submit certain documents to the SEBI. The following disclosures are to be made: End-use Monitoring: Detailed reporting on utilisation of proceeds on the basis of any internal tracking done by the issuer where such internal tracking is verified by an external auditor and details of unutilised portions are required to be submitted on a half yearly basis and along with annual financial statements. Annual reporting: On an annual basis, along with the submission of the annual report, the issuer is required to disclose the quantum of amount raised and a list of projects with brief descriptions, for which such amounts are raised. Specific details would not be required where such information is confidential. For such projects general sectoral information would suffice.

Performance evaluation: The issuer is required to set out certain qualitative and quantitative performance indicators and the underlying assumptions used in preparation of such performance indicators and metrics. In the event the issuer is unable to ascertain the quantitative benefits/impact, reasons for non-ascertainment are to be provided. Responsibilities of the Issuer: An issuer of Green Debt Securities is required to undertake additional responsibilities in determining whether a particular project/asset warrants such funding, maintain a decision-making process by disclosing a statement on environmental objectives, ensure that once the project(s)/asset(s) are funded they meet the desired objective and that the funds have only been used for the stated purpose.

Comment The Green Bond Guidelines formalize the regulatory framework for green bonds with the aim of addressing the critical financing needs of India’s rapidly expanding clean energy market. These guidelines are expected to provide a big boost to the renewables sector by making investment in green bonds more attractive to investors with a benchmark for disclosure standards together with regular and continuous monitoring mechanisms to ensure that the funds are solely utilized for green projects. It is expected that this will widen access of the renewables sector to domestic and foreign capital and ease the strain on banks to lend and re-finance long term green projects.

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The Green Bond Guidelines address the need for detailed disclosure norms in respect of the borrowing entity and the project for which the fund is required and ensures close monitoring of the utilisation of the bond proceeds. The Green Bond Guidelines will give an impetus and add immense credibility to an innovative financial product which has already established its success in both international and domestic markets. This step will aid the corporate bond market as well as strengthen India’s global commitments at international climate change forums.

July 2017

EXCLUSIVE INTERVIEW

In Exclusive Talk With Mr.Raymond Meng EQ: We can see Lightway Solar being active in India market recently . What attracted you to this market? RM : Yes, LightwaySolar started it’s business in India since this year (2017) beginning and planning to set up our New Delhi office at the soonest. The most attractive for us is the rigorous policies and good surroundings, peace, justice and tolerant. Furthermore, the environmental awareness in India is gradually being established. We can see that in future India will lead the Solar Power business sector globally. Also India has formed International Solar Alliance (ISA) which shows the intent.

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

General Manager (Overseas) : Business Head for all Overseas Business Units of Lightway Solar

July 2017

RM: We are committed for India market and want to set our foot firmly here. Since we are a 100% vertically integrated module manufacturer, we have cost advantage over other manufacturers. Majority of large module manufacturers, in order to increase their manufacturing capacity, outsource cells or wafers. We do not want to do that. We would like to grow gradually, but firmly without compromising our quality standards and stay competitive at the same time. Lightway has started Indian business unit with commitment with fully equipped local team. We see this market as one of our most focused marker and we will work to service our clients to best of our ability.

EQ: Kindly enlighten our readers on the performance of your modules in India in various geographic locations,

customer feedback,. RM : We supplied our module or executed self financed projects in many eminent solar markets across globe with various climatic conditions. In all these markets we are known as a quality module manufacturer. Our performance feedback is excellent in all these projects. We are module partner of top 5 developers (China Guodian, China Three Gorges Corporation, China General Nuclear Power Corporation, State Power Investment Corporation) in China. We have recently inked a contract with CGN for 100 MW single project supply. This demonstrate our credibility and quality commitment globally. We would like to replicate the same in India market as well.

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

RM : Projects are• XingtaiNeiqiu Zhongneng State Power 100 MW Power Station • Baigouhe Road International Commerce & Trade City 20 MW Project • Handan Anyuan 50 MW Power Station • Jilin, Qingda Chengde 35 MW Power Station • Tsingyun Solar Xingtai 30 MW Power Station • Shineng Pingshan29.5 MW Power Station These are some few eminent projects in China. Apart of thesewe have done over 500MW (cumulative) projects in Europe and 1.8GW supply on pipeline.

EQ: Please describe in brief about your company, directors, promoters, investors, its vision & mission RM : Lightway is one of the global leaders in the solar industry. We distribute solar products and provide solutions and services to a diversified international utility, commercial and residential customer throughout the

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EXCLUSIVE INTERVIEW

world. We have built a vertically integrated solar product value chain, with an integrated annual capacity of 660MW respectively now. Right now Lightway has over 1,300 employees, 5 oversea subsidiaries in Japan, Germany, United States, Australia and India. Lightway Green Energy is proud of our success in PV market. There are prominent well known partners throughout the world that rely on our brand, product and services.

EQ: What are yout main values for India market. RM : Here are Our main values: • Highly competitive cost structure based on a vertical integrated production process . • Strong background: Parent company Y2015 revenue: $ 8.2 billion, Ranked in No.249 in TOP 500 Chinese Enterprises 2015 and owned two listed company ( “LongiTech Smart Energy”, stock code: 1281. HK; Stock code:002576, listed in ShenZhen,China) • State of the art manufacturing equipments assuring highest quality standards. • Local offices, local service and warehouses with experienced local team. • Projects in China, Japan, Australia, Germany etc. developed, co-invested, constructed and owned by ourselves revealing our reliability.

EQ: Solar Trade Wars : What is Your View ?

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RM : I would like to vote against tread war and regulations. The outcome of trade regulations have never been proved in benefit for EU countries. If I remember correctly in 2010s in Germany alone the annual solar project execution was around 8GW, but after trade regulation these days the execution rate is as low as around 1GW. The down scale is solar market is not because of saturation, but trade regulatory policies. I believe in a healthy and open minded state policies will help the solar market to grow exponentially in India market and both domestic / International manufacturers and service providers will benefit from the same. I wish GOI will continue its support towards the solar sector with its supportive policies.

EQ: In India, are you confident that government energy policy will encourage investment in renewables? RM : Definitely Yes. To encourage investment in renewable seems an inevitable trend in worldwide and we are glad to see India government always keeps forward looking vision on it.

EQ: What is Lightway’s R&D team working on at the moment?

RM : We have a outstanding R&D team, including nearly 70 doctors, senior engineers. Our new product passed maximum voltage 1500V PID testing under 60◦ C/85%RH condition to ensure the outdoor durability

and energy output via high-voltage resistance technology. We are one of the world’s leading companies devoting ourselves to higher efficiency with black silicon & diamond wire slice as well as PERC cell technology.

EQ: What are the top 5 markets for your company in the past, present and future

RM : At present we are mainly focusing China, India, USA, Japan & Latin American markets.

EQ: Last question, what do you think of the social responsibility of Lightway?

RM : It’s a good question. We realize we would build a sustainable business by helping to protect and nurture the valuable resources on which we all depend and achieve our objectives. Lightway donates to more than ten schools in rural and underdeveloped areas which currently lack access to electricity, providing a sustainable and much-needed energy option. Besides, we have LIGHTWAY FUND, keep helping the underprivileged people with the help of everyone in Lightway.

July 2017

EXCLUSIVE INTERVIEW

In Exclusive Talk With Mr.Lior Handelsman EQ: How much Inverters have you supplied to India till now, what is the target/expectation in 2017-18 LH : Since beginning commercial shipments in 2010, SolarEdge has shipped approximately 4.7GW of its DC optimized inverter systems and products have been installed in solar PV systems in 102 countries.As a public company, SolarEdge cannot make forward looking statements.

EQ: 2. The recent aggressive bidding by various developers keeping Solar Tariffs in the price range of Rs.2.44-3.3 per kWh in various Solar Tenders…Whats your view on the viability, Costs & timeline pressures, Resource Challenges (Materials, ManPower, Execution, Grid Connection, Land Possession) etc… Vice President Marketing and Product Strategy, SolarEdge

LH: Based on our experience, PV needs to be viable for all parties, manufacturers, distributors, installers, system owners, and investors. If prices decline too much, then the subsequent result will be decreased quality and long term profit losses. On the other hand, if prices are too high, the adoption of PV will decelerate. SolarEdge is committed to providing value to our customers and at a price point that allows for long-term profitability of all industry players. This is one key to SolarEdge’s growing market share andrevenue.

EQ: Kindly enlighten our readers on the performance of your Inverters in India in various geographic locations, customer feedback,. LH : The first SolarEdge system was installed in India approximately three and a half years ago and the system has performed well, surpassing the

July 2017

customer’s expectations.. SolarEdge systems have been installed on the buildings of prestigious businesses in India and we have received repeat orders from local customers. With a complete portfolio of 3-phase commercial DC optimized inverters, SolarEdge is well poised to become a major player in commercial roof-top &utility-scale PV installations.

EQ: Please describe in brief about your company, directors, promoters, investors, its vision & mission LH : As a top global PV inverter company, SolarEdge (NASDAQ: SEDG) provides an intelligent inverter solution that has changed the way power is harvested and managed in solar photovoltaic systems. The SolarEdge DC optimized inverter system maximizes power generation at the individual PV module-level while lowering the cost of energy produced by the solar PV system. The SolarEdge system consists of power optimizers, inverters, storage solutions, and a cloud-based monitoring platform and addresses a broad range of solar market segments, from residential solar installations to commercial and small utility-scale solar installations. SolarEdge’s mission is to become the leading provider of inverter solutions across all solar PV market segments and broaden the availability of clean, renewable solar energy. SolarEdge's founders and executive team bring extensive multidisciplinary experience in business, power electronics and photovoltaic systems. The company's core founding group and technology management team have worked together for more than 15 years. The combination of the team's entrepreneurial spirit, business track-record, and collaboration fosters the type of innovation that has made SolarEdge a leading player in the PV electronics markets.

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EXCLUSIVE INTERVIEW EQ: What is the size of your company in terms of manufacturing capacities, growth chart, future expansion plans, revenues, shipments, ASP’s, financial figures LH : SolarEdge provides its financial information in accordance with NASDAQ filing procedures. Our latest financial report can be found at: http://phx. corporate-ir.net/External.File?item=UGFy ZW50SUQ9NjYwMTYxfENoaWxkSUQ9 MzY2NTk0fFR5cGU9MQ==&t=1 SolarEdge overview: • Established in 2006 • Publicly traded on NASDAQ (SEDG) • Invented the DC optimized inverter solution • 4.2GW of our systems shipped, over 374,000 monitored systems around the world • 15.4M power optimizers and 633,000 inverters shipped • 84 awarded patents and 123 additional patent applications • >715 employees and presence in 13 countries • $490M annual revenue in calendar year 2016, 15% Y-o-Y Growth, $63.5M Profit

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

LH : In order to support the current growth of the Indian PV market, SolarEdge has recently taken steps to strengthen its business position in the country with a new office and leadership. Looking to expand its footprint in the Indian PV market, SolarEdge appointed a new country manager, added an office, and is currently recruiting a local team. SolarEdge is positioned to play an important and leading role in the Indian solar industry.

EQ: What are your plans for Manufacturing set up in India, the opportunities and challenges in manufacturing in India LH : We have just started our operations in India and will closely evaluate the market for opportunities. We have a very positive outlook on the Indian solar industry.

EQ: Briefly describe the various technologies and its suitable applications such as Central Inverter, String, Micro Inverter, 1500V, Outdoor, Container

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solutions etc.. LH : The SolarEdge commercial DC optimized inverter solution consists of inverters, power optimizers, and a cloud-based monitoring platform. The technology provides superior power harvesting and module management by connecting power optimizers at the module level. The ability to connect two modules to one optimizer, combined with DC to AC conversion and grid interaction being centralized at a simplified PV inverter maintains a competitive cost structure. SolarEdge DC optimized inverters are robust for tough environments and can be installed outdoors. Using a fixed-string inverter, SolarEdge DC optimized inverters already offer longer strings, up to 15.3kWp per string, which leads to a significant reduction in BoS costs compared to both traditional string inverters and 1500V systems. While the module-level, remote monitoring platform improves O&M and PV asset management by allowing real-time insight into system performance and the ability to perform remote maintenance. Based on SolarEdge’s track record of optimizing commercial-scale PV systems, SolarEdge recently launched larger-capacity, three-phase inverters up to 100kW. These new commercial inverters offer the benefits of both central and string inverters, but without any of the setback, such as needing a forklift, requiring a specialized team for maintenance, increased system downtime. With simple and costefficient installations, pre-wiring, and easy maintenance, the larger-capacity inverters save on AC BoS costs and can minimize downtime to the impacted string. In addition, the new inverters provide smart energy management control.

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

LH : R&D is 9.3% of SolarEdge’s OPEX. SolarEdge provides its financial information in accordance with NASDAQ filing procedures. Our latest financial report can be found at: http://phx. corporate-ir.net/External.File?item=UGFy ZW50SUQ9NjYwMTYxfENoaWxkSUQ9 MzY2NTk0fFR5cGU9MQ==&t=1

EQ: What are the top 5 markets for your company in the past, present and future LH : The North American market is our

largest market, with approximately 60% of our revenue coming from our North America sales. Following the North American Market, are the European and Australian markets.

EQ: Technology road map in terms of 1500V , micro inverters, upcoming game changes technologies LH : SolarEdge already offers longer strings, up to 15.3kWp per string, which leads to a significant reduction in BoS costs compared to both central and string inverters and 1500v systems. SolarEdge’s DC optimized inverter solution offers longer strings with fixedstring voltage. Fixed-voltage mode is an advanced operating mode for string inverters. It requires power optimizers to match current level drawn from the inverter, while the inverter maintains string voltage at optimal voltage for DC/ AC conversion – regardless of string length or temperature. This means that string length is no longer governed by voltage, but by power. And in fact, it allows for 100% longer strings than standard string inverters, while also keeping the voltage below 1000v– which means specialized 1500 hardware is not required. SolarEdge developed and continues to be the leader in the DC-DC optimization market. SolarEdge recently developed and began sales of its HDWave inverter. The As the winner of the prestigious 2016 Intersolar award, the HD-Wave inverter breaks the mold of traditional inverters. Using a novel power conversion technology that is based on a distributed switching and powerful DSP processing, the HD-Wave inverter synthesizes a clean sine wave that leads to a dramatic reduction in the magnetics and heavy cooling elements. The recordbreaking efficiency allows more energy production for an improved ROI.As part of our smart energy management portfolio, SolarEdge offers StorEdge™ solutions to support increased selfconsumption and energy independence. SolarEdge’s StorEdge™ is a DC coupled storage solution that increases selfconsumption & power backup. One of the market leaders in the integration of PV generation, energy storage and home automation, SolarEdge offers smart energy management solutions. The device control suite, which includes an immersion heater controller and load switching devices, directs excess PV energy to power appliances during the day in order to shift energy consumption to match PV generation.

July 2017

EXCLUSIVE INTERVIEW EQ: Kindly comment of Energy Storage as a game changer, its technology, cost trends…etc… LH : As PV production does not typically align with energy consumption, storage is key to increasing energy independence, improving PV system RoI, and reaching grid parity. Energy storage will also help to upgrade the grid from being a centralized energy source to a distributed and dynamic network. SolarEdge offers StorEdge™, which is a DC-coupled storage solution, with a single inverter that manages both PV and storage.

EQ: Explain various guarantees, warrantees, insurance, certifications, test results, performance report of your inverters LH : SolarEdge inverters have a wide temperature range, are humidity resistant, meet IP65 rating, are saline and ammonia resistant. Power optimizers also meet these same standards, but also meet the IP68 standard. SolarEdge inverters have a 12-year warranty, extendable to 20 years. While power optimizers have a 25-year warranty and free monitoring for the system lifetime. We comply with the Indian regional requirements in regards to the certification covering inverter efficiency, environmental requirements, ingress protection, grid codes &antiislanding requirements. In addition, SolarEdge offers enhanced safety with its embedded SafeDC™ technology. With SolarEdge whenever AC power is off, DC wires are de-energized. Power optimizers shut down the DC voltage in the PV wires to protect installers, maintenance personnel, and firefighters. The SolarEdge inverter solution meets the most advanced safety standards and are certified to NEC 2017, to IEC 60947 as a disconnection means between a PV inverter and a PV generator, and to VDE 2100-712 for safety in cases of firefighting or maintenance.

EQ: Kindly highlight your product, technology & company USP’s, distinctive advantages etc… LH : SolarEdge DC optimized inverters offer 4 key benefits: • More energy – With module-level MPPT, SolarEdge DC optimized inverters allow each panel to produce

July 2017

at its maximum. This increased energy yield means a faster return on the system investment. • Constraint free design - Power optimizers enable installation of strings of uneven lengths, modules in multiple orientations and different roof facets in a single string, and modules in shaded areas. These means more modules can be installed on the roof with minimum design time. • Improved O&M - Full visibility of system performance & remote troubleshooting with module-level SolarEdge’s monitoring platform means less trips to site, less time spent on site, and higher system uptime. • Enhanced safety solution – SafeDC™ reducesDC voltage in PV wires to a safe level whenever inverter or grid are shut down for safety during installation, maintenance, firefighting, & other emergencies

EQ: Do you also bring financing solutions for your customers ? LH : No, but SolarEdge is bankable with many international and local banks and financial institutions.

EQ: What are the trends in new manufacturing technology equipment, materials, processes, innovations etc… LH : SolarEdge developed and leverages an automatic assembly line to manufacture its power optimizers. The automated assembly line was designed to reduce quality problems related to human error, reduce labor required for production, increase production speed and ramp up, and decrease production costs. The line is designed to assemble 500,000 power optimizers per quarter. In addition to the advancement of its

manufacturing rate is the line’s ability to transition from one type of power optimizer to another seamlessly.

EQ: Whats your commitment towards the solar sector in India LH : The Indian solar energy segment is considered to be a market with one of the fastest growth potentials in the world due the country’s everincreasing demand for energy. Having global experience, innovative solutions, and dedication to developing a local presence, SolarEdge is well poised to support the Indian PV market in its rapid growth. SolarEdge’s recent move to strengthen its position in the Indian PV market with a local team signifies our commitment to the solar sector in India.

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

LH : As a public company, SolarEdge does not provide forward looking information.

EQ: Are the developers betting on Modules/EPC Prices or Interest Rates ? LH : It seems as if developers are expecting a drop in the price of solar modules. Based on the previous round of aggressive bidding, the projects which seemed unviable became viable only due to the drop-in module prices. The interest rate is the second influencer in terms of bidding.

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July 2017

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SOLAR INVERTERS

Sungrow Drives PV Plant Into The 1500 VDC System Era The benefits of replacing fossil fuel with solar energy have emerged recently. However, with government subsidies going less and less, PV industry should rely on lower Levelized Cost of Electricity (LCOE) to get higher market share. Then, how to achieve lower LCOE? There are two ways, the first is through raising efficiency, the other is through reducing system cost. In the past 20 years, thanks to advancing technology and innovation, the cost of solar power has dropped down significantly. The ordinary 1000 Vdc technology is rather mature and is experiencing a bottleneck for further cost saving. Meanwhile, the emerging 1500 Vdc technology, which can not only lift efficiency but also reduce cost, will soon become the mainstream PV technology.

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The 1500 Vdc PV system

How 1500Vdc system raises efficiency Less cables, combiners, and PV inverters, less loss of cables and switches. Higher system voltage leads to lower working current, and reduces loss of cable. Higher voltage at the low voltage side of the transformer, less low voltage winding loss.

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SOLAR INVERTERS

How 1500 Vdc system reduces cost

A 50% reduce of number of strings for the system which means less cables, combiners, PV inverters, and other electrical equipment. Thus the cost of equipment and construction is cut down. A further reduction of cost on O&M was brought by the low amount of equipment. The 1500Vdc PV inverter has a higher power density and lower cost.

1500 Vdc vs. 1000 Vdc While the system voltage rises from 1000 Vdc to 1500 Vdc, this poses higher requirements of dielectric for key components, and the cost for individual equipment rises accordingly. However, the number of equipment goes down and the entire system cost is less than that of a 1000 Vdc system. The cost for 1500 Vdc system will continue to drop as it becomes more and more popular.

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July 2017

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SOLAR INVERTERS

It is not difficult to realize the 1500 Vdc technology. The major hindrance is lack of standards and judgments for risks. It is predictable that 1500 Vdc will be on high demand in the near future.

Sungrow 1500 Vdc system solution Since its foundation in 1997, Sungrow has always been focused on developing PV inverter technologies and has shipped over 38 GW of inverter equipment worldwide by the end of 2016. Sungrow has not only accumulated rich advanced technologies, but also a stable quality control system. Since 2015, Sungrow has been the world’s no.1 in terms of PV inverter shipment. Sungrow’s innovation is driven by customers’ needs and the target of grid parity. As a leader in the PV inverter industry, Sungrow has paid close attention to the new 1500 Vdc technology and taken great efforts in developing and promoting it. As mentioned above, the 1500 Vdc PV system is born with many advantages and is also facing many challenges presented by the lifted voltage. The key point of competition for players in this field is on enhancing power yield and stability of the PV inverter and driving the system price down at the same time. Sungrow is a customer-oriented company and adopts the design philosophy of ‘Scientific Design for Different Applications’ which means providing appropriate system solutions for different applications, in order to maximize ROI for its customers. Central PV inverter solution is promoted for utility-scale PV plants on flat terrain. The SG2500HV/SG3000HV turnkey station solution developed by Sungrow has inherited all the features from its 1000 Vdc predecessors, and also has solved problems brought by the 1500 Vdc system..

SG2500HV SG3000HV With its global total installation soaring, PV has become an important part of the public energy mix and is facing issues of grid support. First of all, the PV inverter should be compatible with real time grid regulation. Sungrow PV inverters can react to the regulation order instantly and takes control of power output. Secondly, higher unit power of PV inverters can decrease the number of equipment and the risk of resonance and off-grid. Thirdly, when the voltage of the grid becomes irregular, the PV inverter should be able to ride through the fault voltage and protect a stable operation of the system. Finally, the inverter is becoming more and more important in the power system and will be added with more value in the future. String inverter solution promoted for complicated applications. The SG125HV 1500 Vdc string inverter, the largest of its kind in the world, is a diversified product. Sungrow has developed a Virtual Central Inverter solution based on the new SG125HV string inverters which are installed together for the convenience of O&M.

SG125HV and the Virtual Central Inverter Solution

July 2017

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SOLAR INVERTERS

Case reference In the second half of 2015, the first 1500 Vdc solar power plant was built by Sungrow and the plant was connected to the grid in early of 2016.

China Three Gorges New Energy built a 50MW power plant in Datong, Shanxi province, China, in May of 2016. And 20MW of 50MW utilized the 1500 Vdc system solution with central inverter SG2500HV supplied by Sungrow. According to the plant manager, the 1500V central inverter SG2500HV was proved to work stably and have a higher unit capacity compared to the 1000 Vdc inverter. “A lot of troubles and losses have been avoided by using Sungrow’s inverters due to its high power generation and low failure rate. Now, its 1500 Vdc inverters are as stable and effective as it used to be, and we will continue to cooperate with Sungrow for the future 1500V projects,” said the plant manager.

50 MW 1500 Vdc PV Plant In Datong, China

Sungrow’ inverters and combiner boxes have been deployed in plenty of power plants, up to the first half of 2017. More plants with Sungrow’s 1500 Vdc inverters will be connected to the grid in India, North America and so forth in 2017. Sungrow is ready to embrace the era of the 1500 Vdc system for solar power plants.

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July 2017

SOLAR PV PHOTOVOLTAICS

Testo Thermal Imagers for Photovoltaic system application

Thermography In Photovoltaic Plants Photovoltaic systems are an important contribution to the energy transition, and to a sustainable handling of resources. In recent years, they have been one of the greatest sources of power and electricity. But with great results there are some serious threats that tend to jeopardize the power output of the system. This makes the maintenance of the plants a significant aspect to tackle such threats concerning the functioning of a solar set up.

Potential Threats To Photovoltaic Plants -

ven a small technical defect is sufficient to have a considerably negative effect on the solar yield – and therefore the economic viability of a photovoltaic plant. The causes could be like; Carelessness during installation, degeneration of the laminates or slow damage due to years of UV radiation and weathering.

Some of the biggest problems that could be witnessed are • Hotspots: Shadowed or defective module cells form an internal electrical resistance which can lead to undesired warming hotspot. Also, faulty or unsuitable bypass diodes (where shade is minimal) continue to lead to uncontrollable hotspots. • Delamination: The EVA protective layer may come away due to external influences. Any moisture getting in may lead to cell corrosion and to a performance loss. • Modules run at open circuit: This may be caused by incorrectly connected modules or cables that have worn through. • Overheating of connection sockets: This can lead to poor operation of modules & typical faulty images for defective individual cells and substrings. • Micro-cracking & cell ruptures: It can occur during transport and installation or due to any external mechanical influences. • Corrosions & loose connections: Aside from the individual cells and modules, electrical components can also have corrosions on electrical components or have loose cables.

July 2017

Thermal defects on solar panel

hese threats consequently lead to decrease in the electricity yield. In few cases, individual cells or the entire module starts consuming electricity instead of generating it. This unwanted electricity consumption heats up the modules & can also lead to a real fire risk.

Revolutionary Tool for easy assistance – Testo Thermal Imagers -

hecking photovoltaic plants using thermography places very high requirements on the use of a thermal imager. Several criteria must be taken into account when choosing a thermal imager suitable for this purpose:

• Infrared resolution of the detector: The geometric resolution describes a thermal imager's capability of recognizing objects (e.g. individual faulty modules) from a certain distance. An IR resolution of at least 320 X 240 pixels (76,800 measurement points) are recommended in the case of large PV systems and for measurements from a long distance. • Thermal resolution (NETD): The thermal resolution describes the capability of a thermal imager to detect temperature

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SOLAR PV PHOTOVOLTAICS differences on an object surface. The lower the thermal resolution, the better the IR image generated. • Exchangeable lenses: In order to be able save time measuring large areas, e.g. from a elevated platform, imagers with exchangeable telephoto lenses should be selected that have suitable opening angles. • Camera functions: Includes various features and properties that enable the camera for easy handling and friendly usage such as; Rotating lenses for accurate positioning of imager, solar mode for ambient adjustment, radiometric video measurement etc. • Software: The analysis software (e.g. testo IR Soft) enables the optimization and analysis of the thermal images, and ensures that the findings in the images are clearly presented and documented. • Bluetooth connectivity with other devices: Interfacing of thermal imagers with temperature, humidity probes & clamp-meter for solar power analysis.

Needs & Benefits of thermography • Using thermography, it is possible to check whether the quality of the module cells fulfils the requirements or not. • Incorrectly fitted or inadequately cooled electrical components that can quickly pose a fire risk can be easily traced. • Corroded or loose electrical cables indicating thermal irregularities can be easy detected and eliminated by thermography. • Thermography is a very safe inspection method as it reduces the considerable risk of electric shock to personnel. • Thermography is a non-contact, visual measurement method. Large-surface solar modules can be scanned very quickly thus saving a lot of time and money as well.

Bluetooth connectivity with other devices • Detecting cell rupture, corroded and loose contacts & overheated connection sockets. • Identification of hotspots, modules at open circuit, short circuits, delamination etc. • Creation of added value for solar engineers and plant operators. Practical application tips • Measure in sunshine and at low outdoor temperatures • Point the thermal imager correctly, bear reflections in mind • If possible, measure on the rear • Carefully analyse the causes of temperature deviations Selecting the right thermal imager • Observe suitable geometric and thermal resolution for the application • Imagers with exchangeable lenses and rotating display provide more flexibility • Useful functions such as solar mode and video sequence recording, as well as versatile analysis software, simplify measurement and analysis.

Step ahead in solar thermography with Testo Thermal Imagers

hermal imagers from Testo are specially designed for solar thermography requirements. They allow solar engineers to offer their customers a valuable after-sales service, while plant operators obtain a reliable statement on the status of their solar plants. SOLAR THERMOGRAPHY: Overview of applications and benefits• Early identification of faults, avoidance of yield loss • Increasing operational safety, prevention of fire danger • Fast, safe inspections

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Thermography of Solar Panel with Testo

July 2017

Samsung SDI to Unveil New Residential ESS Products for Global Market Samsung SDI (KRX:006400) is unveiling new residential ESS (Energy Storage System) products that use differentiated design technology in a move to gain a competitive edge in the market. Samsung SDI will display its full ESS lineup at Intersolar Europe 2017 to be held in Munich, Germany.

roduct line includes new residential ESS products that hold the world’s largest market share, the world’s largest utility-scale 240MWh ESS, whose project was awarded to Samsung SDI last year, and UPS (Uninterruptible Power System) products, whose market shows an explosive growth. Samsung SDI will also present its ESS business performances and vision for the future.

ntersolar is the world-leading exhibition for the ESS and solar industries. Samsung SDI has participated in the trade show since 2012. About 1,000 companies, including large firms in ESS and solar photovoltaic fields, attend the event.

t the exhibition, Samsung SDI highlight its residential ESS module lineup of high-capacity ESS modules and high-voltage ESS modules. A residential ESS is a battery system installed at home. Its main purpose is to store electricity generated at solar panels in batteries in the system for later use. A modular business takes place as Samsung SDI connects high-power batteries into modules, then makers of finished ESS products add components to the modules, enclose and sell them to consumers.

July 2017

Samsung SDI’s high-capacity ESS modules are scalable to 39 basic modules with the capacity of 4.8kWh. This means the storage capacity can increase up to 39 times or that a maximum of 188kWh can be stored. It is close to the amount of electricity consumed by 20 homes for a day, given that the daily average of electricity consumption at home in Europe is around 10kWh. Samsung SDI expects to secure European homes with varying electricity demands as its customers through its high-capacity ESS modules. Samsung SDI is also debuting Highvoltage ESS modules that can scale up to 600V from existing 50V (volt) voltage. High-voltage ESS modules generate high volt by connecting cylindrical batteries. High-voltage battery modules enable homes to generate 220V and save costs of parts needed for voltage transformation. One of the advantages

of Samsung SDI’s residential ESS modules is high scalability. Samsung SDI plans to provide ESS modules fitting the various needs of ESS makers on time by applying differentiated scalability. If modules are highly scalable, only minor design changes are needed to meet customer demands, so design cost and time can be saved. Samsung SDI plans to start mass producing residential ESS modules in the second half of this year. It has conducted tests in cooperation with customer companies from 2016 and expects to achieve their results in 2018. Samsung SDI is recognized as a competitive company in the field of residential ESS by holding the largest share in Japan for four years from 2013. The Japanese residential ESS market has grown rapidly due to concern about electric grid insecurity since the Fukushima Daiichi nuclear disaster in 2011.

“Customers show much interest in the differentiated scalability of Samsung SDI’s residential ESS modules,” Sewoong Park, vice president for ESS team, Samsung SDI, said. “We will keep launching ESS products with market-leading technology.” B3, a market research institution, projects the global residential ESS sales to reach 83,000 units this year and increase by some 16 percent on average annually to about 146,000 units by 2020. B3 also said Samsung SDI had the largest share of the global residential ESS market last year with 30 percent.

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TrinaBESS Introduces TrinaHome S&T Series At Intersolar Europe 2017 TrinaBESS recently has the pleasure to announce the introduction of the long awaited TrinaHome, the residential battery system for all households. The TrinaHome systems will be on display at the world famous InterSolar Europe. General Manager of TrinaBESS Frank Qi comments:

e’re very excited to be introducing our products to the European market. Europe has long been the light to which everyone is drawn in terms of solar and renewable energy. The European people’s concern with the planet and climate translated into strong government policy in these areas. As the PV market has become self-sufficient and subsidies are removed the requirement for battery storage grows. There is a large demand in countries with higher electricity prices and we expect this to propagate all over Europe as each country reacts to market trends and see the advantage of distributed storage.”

he TrinaHome collection is sleek, discrete and fits in with any other home appliance. The system can be monitored remotely from mobile device or on desktop putting the power in the hands of the user. Also on display will be TrinaCommercial and TrinaMega our storage products for commercial customers and utility scale use. From residential use through commercial rooftop to grid support, TrinaBESS has a storage solution for you. Trina is a world leader in storage and solar procutcs and always keeps to the highest standards from third parties whether that be product standards such as IEC 62109/61000 or financial by being the most bankable manufacturer in the industry. TrinaBESS Energy Storage Solution will be on display at Intersolar Europe 2017 in Munich, Germany from May 31-June 2, 2017 at booth number A1.480.

he TrinaHome collection comes in two series the single phase S-series and the three phase T-series. The single phase series comes in with a power rating of 3.7 kW and modular capacity expansion from 3 kWh to 12 kWh whereas the three phase series comes in power ratings of 5.2 kW or 9.8 kW with modular capacity expansion from 6 kWh to 12 kWh or 9 kWh to 18 kWh respectively.

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July 2017

TMEIC Develops and Commences Sales of AC Station for PV Systems Toshiba MitsubishiElectric Industrial Systems Corporation (hereinafter, “TMEIC”; President & CEO Masahiko Yamawaki) currently has developed and commenced sales of its SOLAR WARE™ STATION, an AC station which is a package solution offering a 1500V series indoor PV inverter, transformer, switchgear and other equipment. Product sales have commenced in overseas markets.

Features and Benefits of SOLAR WARE™ STATION Flexible design realizes an extensive range of solutions.

AC Station

ith the further global expansion of the PV market, there is a greater demand for providing package solutions that will contribute to enhanced engineering efficiency, a reduction in construction costs and stabilization of system quality. TMEIC newly developed the AC station to meet this demand and will contribute to maximizing customer benefits as an industry leader.

July 2017

One-stop solution that will store PV inverter, transformer and switchgear in a container

Solar Ware Station SOLAR WARE™ STATION (5.1MW AC STATION)

L-H Combo A solution that realizes large-capacity output at minimum cost by storing PV inverter and switchgear inside a container (can realize AC output capacity of up to 10MW, which is the world’s larg-

est level, by using a 40ft container)

Inverter Package A solution that only stores PV inverter inside a container for customers who are separately ordering a transformer and switchgear Workability of installation will contribute to shortening construction periodand reducing overall construction costs. Ease of maintenance that will not be affected by the surrounding environment

“SOLAR WARE” is a trade mark of TMEIC in Japan, the United States, India, China and the EU.

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TMEIC Develops and Commences Sales of 1500V PV Inverters Realizing the World’s Highest Level of Compactness

ith the latest development of its 1500V series of PV inverters realizing the world’s highest level in terms of compactness along with conventional high conversion efficiency, product quality and cost competitiveness, TMEIC continues to contribute to maximizing customer benefits as an industry leader.

oshiba MitsubishiElectric Industrial Systems Corporation (hereinafter, “TMEIC”; President & CEO Masahiko Yamawaki) currently has developed and commenced sales of its SOLAR WARETM 2220/2550*1 for largecapacity PV systems. The new inverters are the 1500V series indoor inverters with a single unit capacity of 2222kW and 2550kW, respectively. Products are available in overseas markets.

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Features and Benefits of SOLAR WARETM 2220/2550 World’s highest level in terms of compactness by increasing AC output capacity per installation space by 2.76-fold compared with conventional model *2 Realized 7.6% reduction in size compared with conventional largecapacity model*3 and AC output capacity increased to 1.4MVA/m2

SOLAR WARETM 2220/2550 operates without de-rating*4 at asurrounding temperature of up to 50.C. Night-time VAR compensation function stabilizes grid. Enhanced safety through TMEIC’s proprietary DC input circuit system.

July 2017

Fixed input, Non-isolated Adjustable Output Power Supply—HO1 Series of High-voltage Output Fixed input, non-isolated adjustable output power supply by MORNSUN HO1 series of high-voltage output

July 2017

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MORNSUN announced high-voltage output power supply HO1 series recently. The series addresses applications of portable devices with ultrasonic technology including ultrasonoscope, pile test instrument, ultrasonic thickness gauge, non-metallic ultrasonic testing detector for concrete, and electrostatic printing, high voltage bias, industrial control, medical chemical industry, scientific experiment and so on. Distinguished advantages of HO1 series are as follows.

(1) 12V fixed input voltage, 0-600V continuous

(4) CE meet CISPR22/EN55022 CLASS

output with linear adjustable function

Adjustable output voltages of 200-1200V (0-200V, 0-600V, 0-800V, 0-1000V, 0-1200V optional) are available depending on different requirements. HO1 series offers 600V high voltage to power ultrasonic detector, forms high voltage pulse at probe chip by drive circuit and results in pulsed ultrasound for high-frequency mechanical oscillation after electro-acoustic conversion.

(2) Operating temperature ranging from -40°C

to +85°C without any derating

Internal devices of high-voltage output power supply are subject to pressure of high voltage. On the other hand, high temperature means high pressure. Both of them demand higher product reliability. MORNSUN HO1 series has an wide operating temperature range without any derating, high reliable.

(3) Temperature coefficient ≤ ±0.01%/℃, time coefficient ≤ ±0.05%/hour, output ripple as low as 15mVp-p (typ.); Stable output of HO1 series has no deviation for environmental changes, making portable devices’ testing results more accurate.

A, without external components RE meet CISPR22/EN55022 CLASS B, without external components HO1 series offers excellent EMC performance, better compatible system design, less electromagnetic interference to sensitive acquisition circuit, and more sensitive and accurate measurements. In addition, HO1 series also has output short circuit and overcurrent protections to meet specific environment applications. These applications include but are not limited to ultrasonoscope, photomultiplier tubes (PMTs), avalanche photodiodes, solidstate detectors, EO lens, piezo devices, capacitor charging fields. These converters offer a cost effective solution with high-quality performance in the industry.

Features: Low ripple & noise Ultra-low temperature coefficient and time coefficient 0-600V continuous output with linear adjustable function Output short circuit and over-current protections Operating temperature:-40°C to +85°C (without any derating) CE meet CISPR22/EN55022 CLASS A, without external components RE meet CISPR22/EN55022 CLASS B, without external components

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July 2017

GCL Launched G-Home Kits (3KWp to 10KWp) for Rooftop PV System Solution for India Market GCL, the worldâ&#x20AC;&#x2122;s largest Renewable Energy Company, launched a range of Solar Rooftop Kits (G-Home) staring from 3KWp to 10KWp in both the options of Grid Tied System and Hybrid System with Storage by High quality Lithium Ion battery Bank.

This will become a game changer in rooftop segment in India and will lead tomake Solar Rooftop Systems availability as easy as other electronics goods for home.

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Currently there is anextensive range of solar technology products available in market but the Understanding and finalizing the best product from various PV panels, mounting systems, Inverters and electrical systems requiresgreat expertise in the field.

A standardized module mounting system that cuts down panel installation time, minimizing business disruption and reducing labor costs.

A plug-and-play kit that includes the inverter, Cables, connectors, connection boxes, nut bolts & Screw reduces the efforts and time in getting the system install.

A standard cable set in the kit, reducing labor costs during installation, eliminating wiring errors and enhancing safety.

GCL offers an example of standardization in solar with a fully integrated system for Solar PV Rooftop System customers. G-Home Kits are designed with standardized, modular components that speed installation, enhance performance and safety, and are built to last.

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RenewSys launches production of India’s first 5 BB Solar Cells, Completes ramp up of its cell line India’s first 5BB solar PV cells, will deliver higher module efficiency&cost saving Cells manufactured using world class European equipment RenewSys completes ramp up of its 100 MW cell line

enewSys, India’s first & only integrated manufacturer of Solar PV Modules & its components i.e. Encapsulants, Backsheets and PV Solar Cells, became the first Indian company to launch the production of five Bus Bar (BB) Solar Photovoltaic (PV) Cells.The 5BB cells, part of RenewSys’ RESERV®range of solar PV cells, will be manufactured using world class European PV cell equipment.

ncreasing the number of Bus Bars (BBs) in a photovoltaic celllowers the series resistance and thus increases the current. Eventually, the PV cell power increases,which improvesthe overall module performance. Apart from the advanced technologies such as PERC, PERT and IBC, increasing the number of Bus Bars, is an attractive technology development to produce solar panels with higher efficiency.

“We work towards ensuring that our products are high performing, commercially viable and future ready. RenewSys recognizes that quality raw materials, commitment toR&D and competitively priced products are crucial to the solar industry, affecting the performance and success of PV solar power systems. The launch of 5BB cells and modules will significantly improve the performance of solar PV systems,” says Mr. Avinash Hiranandani, Managing Director, RenewSys India Pvt. Ltd. RenewSys will start commercial production of its 5BB Solar PV Panels/ Modules from July 2017 onwards.

ells 5BB are expected to noticeably improve the panel/ module efficiency when compared to solar panels/ solar modules that use 4BB or 3BB cells.The additional Bus Bar in conventional silicon solar cells (with respect to 3BB/4BB) facilitates a uniform distribution of stress, making 5BB cells more durable. He says “While we are excited to announce these developments, we hope that the government will support companies like RenewSys that have made significant investments based on the Government of India’s pro local manufacturing policy.”

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enewSys had recently completed the ramp up of its 100 MW cell line. The factory reached leading-edge industry-level cell efficiencies at full capacity at the end of April 2017. Of the new Indian market entrants which started setting up cell production in 2016, RenewSys is the first to reach full production.The cell production line has been commissioned with the help of Solsol GmbH, a leading German consultancy and engineering company specialized in PV device and production technology.

Dr. Stephan Wansleben, CEO of Solsol, adds: “One cannot stress enough the importance of high performing, reliable products. RenewSys has quickly established itself as one of India’s dependable technology leaders among PV Solar Cell and PV Solar Panel manufacturers.” Commending the team at Solsol for their support Mr. Hiranandani says, “Solsol is a great technology partner with a vast project experience. They helped us reach competitive productivity in the shortest possible time.”

July 2017

Sungrow Launches 1500V PV Inverters and ESS Solution at Intersolar Europe 2017 Sungrow, a global PV inverter system solution supplier, presents 1500V string and central PV inverters as well as utility scale ESS at the Intersolar Europe 2017 in Munich, Germany.

T In addition, Sungrow showcased residential storage inverter SH4K6 plus battery, residential PV inverters such as SG2K5-S and commercial PV inverters like SG80KTL.”Sungrow is committed to technical innovation which drives our rapid growth. We continue to offer better products and services to customers all over the world”, said Professor Renxian Cao, president of Sungrow.

July 2017

he SG125HV, the world’s most powerful 1500Vdc string inverter, features a high capacity of 125kW. Also, it is proved to work stably in full power operation without derating at 50 degrees Celsius, maximizing the return on investment for project owners. This 1500Vdc string inverter enables up to 5 MW power block design. As a turnkey station for 1500Vdc systems, the central inverter SG3000HV-MV features its integration of the inverter, the transformer and the switchgear, based on its containerized design of 20-foot, saving costs of transportation and installation. Its maximum inverter efficiency is able to reach up to 99%.

Committed towards providing integrated energy storage system solutions for residential, C&I and utility scale applications, Sungrow showcases an ESS which consists of the high voltage SC1000HV storage inverter, the latest battery pack, and EMS. This system complies with UL and TUV standards and its battery is supplied by the SungrowSamsung SDI joint venture. Thanks to its container design, the ESS can be flexibly configured at customers’ request as well as easily transported to site and maintained. The maximum charge/discharge cycling efficiency can reach up to 96.5% and the maximum capacity for the 40-foot battery container is 4.8MWh. This system can be applied to frequencymodulation and peak-shaving uses. Sungrow’s ESS has been enjoying a good reputation in the European market.

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GCL-SI Achieves Efficiency Break-through of 20.6% for Its Multi-crystalline PERC Solar Cells GCL System Integration Technology Co., Ltd. (GCL-SI), one of the world’s leading solar energy companies, recently announced that it has raised its self-developed Passivated Emitter Rear Cell (PERC) solar cell average efficiency to 20.1% in mass production by utilizing Reactive Ion Etching (RIE) technology, with the highest test reaching 20.6%. It marks a major step forward in advancing the efficiency of multi-crystalline cells.

lack silicon is well-known for its particularly useful properties, such as extremely low reflectance and weakly low absorption of some kinds of photons, for photovoltaic applications. Meanwhile, the main barrier for the introduction of diamond wire sawing of mc Si into mass production is the difficulty to texture using typical industrial acidic texturing method. Fortunately, nanostructured black Si can effectively resolve this issue. In this regard, GCL-SI has taken the lead in the integration of all three existing methods – additive direct texturing, metal assisted chemical etching (MACE), and RIE — thus making massive manufacturing a reality in terms of cost reduction and efficiency gain.

“We have now effectively resolved the issue of multicrystalline PERC cell degradation and power loss. Through proper regeneration annealing processing, an additional absolute efficiency gain up to 0.15% can be reached. Furthermore, the LID results show properly treated cells have significant improvement in degradation behavior with less than 1% relative efficiency loss,” said Dr. Zhang Chun, head of GCL-SI’s R&D cell team.

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CL-SI’s progress comes from its huge investment in solar cell innovation. Leveraging its expertise in photovoltaic technology, it has established a special R&D team dedicated to black silicon to explore ways to minimize costs and fully tap its potential. Having already begun the process in February, which has achieved average cell efficiency of 20.1%, GCL-SI will continue its efforts to scale up the mass production of PERCs. As Dr. Zhang put it, “GCL-SI will further advance towards the goal of realizing an average efficiency of 20.5% and a maximum efficiency of somewhere between 20.8% and 21% in 2017.”

GCL-SI is geared up for more breakthroughs that will provide the market with the highest quality, highest efficiency solar cells and equipment at a substantially lower cost. “With more advanced technology, we hope to make solar energy more efficient and bring it to more markets around the world,” said James Hu, president of GCL-SI Overseas BU.

July 2017

QUARTER RESULTS

r a l o s S JA unce r o e t n An Quar t s r Fi 2017 s t l u s e R JA Solar Holdings Co., Ltd. (Nasdaq:JASO) ("JA Solar" or the "Company"), one of the world's largest manufacturers of highper formance solar power products, announced its unaudited financial results for its first quarter.

Mr. Baofang Jin, Chairman and CEO of JA Solar, commented, “Our operating results were in line with our expectations. We delivered high-single-digit year over year revenue growth on robust external shipments, driven by strength in the Asia Pacific markets. We expect solid demand from China in the second quarter, driven by accelerated activity ahead of subsidy reductions. Despite this near-term strength, we are cautious on the business outlook for the second half of 2017, given limited visibility into customer demand, as well as the competitive pricing environment across multiple geographies.” Mr. Jin continued, “We remain committed to streamlining our operations in order to optimize efficiencies, and are focused on executing our business strategy to provide our customers with highquality products. We continue to believe that our geographic exposure, prudent cost control and flexible business model will enable us to navigate through industry cycles. As market conditions improve, we will be positioned for sustainable longterm growth.”

July 2017

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QUARTER RESULTS

First Quarter 2017 Highlights Total shipments were 1,392.7 megawatts (“MW”), consisting of 1,325.1 MW of modules and 50.2 MW of cells to external customers, and 17.4 MW of modules to the Company’s downstream projects. External shipments were up 32.5% y/y and down 2.6% sequentially Shipments of modules were 1,325.1 MW, an increase of 44.1% y/y and a decrease of 2.1% sequentially Shipments of cells were 50.2 MW, a decrease of 57.8% y/y and 14.8% sequentially Net revenue was RMB 3.7 billion ($536.4 million), an increase of 6.4% y/y and a decrease of 7.5% sequentially Gross margin was 11.7%, a decrease of 490 basis points y/y and 120 basis points sequentially

Operating profit was RMB 80.0 million ($11.6 million), compared to RMB 223.3 million ($32.4 million) in the first quarter of 2016, and RMB 370.5 million ($53.8 million) in the fourth quarter of 2016 Net income was RMB 8.1 million ($1.2 million), compared to RMB 158.0 million ($23.0 million) in the first quarter of 2016, and RMB 353.4 million ($51.3 million) in the fourth quarter of 2016 Earnings per diluted ADS were RMB 0.17 or $0.03, compared to RMB 2.74 or $0.40 in the first quarter of 2016, and RMB 6.80 or $0.99 in the fourth quarter of 2016 Cash and cash equivalents were RMB 2.3 billion ($332.1 million), a decrease of RMB 283.4 million ($41.2 million) during the quarter NonGAAP earnings1 per diluted ADS were RMB 0.17 or $0.03, compared to RMB 2.33 or $0.34 in the first quarter of 2016, and RMB 6.80 or $0.99 in the fourth quarter of 2016

All shipment and financial figures refer to the quarter ended March 31, 2017, unless otherwise specified. All “year over year” or “y/y” comparisons are against the quarter ended March 31, 2016. All “sequential” comparisons are against the quarter ended December 31, 2016 Total shipments were 1,392.7 MW, in line with our previously announced guidance. External shipments of 1,375.3 MW increased 32.5% year over year and decreased 2.6% sequentially.

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July 2017

Net revenue was RMB 3.7 billion ($536.4 million), an increase of 6.4% y/y and a decrease of 7.5% sequentially. Gross profit of RMB 433.3 million ($63.0 million) decreased 24.7% y/y and 15.9% sequentially. Gross margin was 11.7%, which compares to 16.6% in the yearago quarter, and 12.9% in the fourth quarter of 2016. The decrease in gross margin was primarily due to a decline of average selling price of solar modules in the first quarter of 2017. Total operating expenses of RMB 353.3 million ($51.3 million) were 9.6% of revenue. This compares to operating expenses of 10.1% of revenue in the year ago quarter, and 3.6% of revenue in the fourth quarter of 2016. Included in operating expenses in the fourth quarter of 2016 were a onetime reversal of RMB 348.3 million ($50.6 million) of previously recorded expenses due to the resolution of the Company’s dispute with Hemlock Semiconductor Pte. Ltd, and a one time charge of RMB 99.6 million ($14.5 million) resulted from the termination of business relationship with one of the Company’s business partners.

Liquidity

As of March 31, 2017, the Company had cash and cash equivalents of RMB 2.3 billion ($332.1 million), and total working capital of RMB 0.8 billion ($118.0 million). Total shortterm borrowings were RMB 3.2 billion ($467.1 million). Total longterm borrowings were RMB 2.9 billion ($425.4 million), of which RMB 870.9 million ($126.5 million) were due in one year.

Business Outlook

For the second quarter of 2017, the Company expects total cell and module shipments to be in the range of 1,550 to 1,650 MW. Nearly all will be external shipments.

Operating profit was RMB 80.0 million ($11.6 million), compared to RMB 223.3 million ($32.4 million) in the year ago quarter, and RMB 370.5 million ($53.8 million) in the fourth quarter of 2016. Operating margin was 2.2%, compared with 6.4% in the prior year period and 9.3% in the previous quarter. Interest expense was RMB 83.3 million ($12.1 million), compared to RMB 67.3 million ($9.8 million) in the yearago quarter, and RMB 72.9 million ($10.6 million) in the fourth quarter of 2016. The change in fair value of warrant derivatives was nil, compared with positive RMB 23.4 million ($3.4 million) in the yearago quarter, and nil in the fourth quarter of 2016. The warrants were issued on August 16, 2013 in conjunction with the Company’s $96 million registered direct offering, and expired on August 16, 2016. Earnings per diluted ADS were RMB 0.17 or $0.03, compared to earnings per diluted ADS of RMB 2.74 or $0.40 in the yearago quarter, and earnings per diluted ADS of RMB 6.80 or $0.99 in the fourth quarter of 2016.

July 2017

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SOLAR PHOTOVOLTAIC MODULE BACKPLANE SERIES SDJ-5A The Factory Direct Selling Price $1.5/SQ.M. Suzhou Top Giant New Material Technology Co., Ltd. Is a backbone of technological innovation-based enterprises, is one of the drafters of the industry standard for national solar energy components from the back. Company since its establishment 2012, has always focused on the new material of modified plastics, polyester modified, the application of new materials and other high-tech insulating materials R & D, production and sales. The company passed the ISO9001 quality system certification and ISO14001 environmental management system certification. The first product of high-performance environment-friendly solar cells backplane assembly SDJ-5A have been through the national CPVT, SGS, the European TUV and American UL certification. Now has an annual output of 10 million M2 high performance and environment-friendly solar energy components from the back of the produce can dimensions. SDJ-5A series in the quality of the back board, Has obvious advantages in performance and cost aspects, To solve the current global back-plate industry are the most outstanding difficulties: the high moisture of have the snail phenomenon, low resistance to aging, service life, EVA shift, the phenomenon of degumming and other defects. Products of water-resisting performance, size stability, the performance of the voltage-resistance and insulation resistance of wear resistant surface are better than the present industry product. Company uphold the aim is “to be the best quality of the products is endless”, Adhering to “walk hand in hand with customers, win-win future” business principles, Always adhere to the innovation and development of the foundation with high quality, high performance-price ratio for the vision of the product, creating a good focus on the sustainable development of green material enterprises.

SDJ-5A certified by UL

SDJ-5A Passed SGS environmental protection test

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Contact Us : Web : www.dingjiutech.com Mob/WhatsApp : +86 13814998299 Fax : +86 512 53666258 Email : export@dingjiutech.com Address : 22 Dongbang Road Chengxiang, District Taicang Jiangsu, China, 215000

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