EQMag India June/July'15 Edition by EQ Int'l Solar Media Group

Volume # 7 | Issue # 6 | June-July 2015 |

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I N T E R N AT I O N A L

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I N T E R N AT I O N A L

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TRENDS & ANALYSIS

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CONTENT

VOLUME 7 Issue # 6

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BUSINESS L FINANCIA

Ministry itiatives Of ble & Renewa ents And In Achievem r, Coal And New Year e we Po On Of Energy In

3.6%

22,566

MVA rgy Clea n ene will be ed prioritis with

22,100

it kM. circu

5 Million Ton

20 years

9,865 crore

8.3% 23 years

power for upgrading ern states approved 8 North East systems in Nagaland, a, Mizoram, smission Meghalay Tripura). Trantment of Rs and m Sikki with inves to line approved to evacute power n. 26,000 crore n from western regio regio southern

Pradesh, s like Uttar East ly in state al , North particular , West Beng a CSR r, Odisha lay down Under the e, over Biha hile the above plans affordable prog ramm ol etc.W rds24x7 map towa so far 1,25,000 scho up at clear road all, the performance Prime toilets taken power for dence that confi of le a cost provides amp ion will be fulfilled. miss Minister’s

2,250 crore

Achievements And Initiatives Of Ministry Of Power, Coal And New & Renewable Energy In One Year

SOLAR OFF GRID & ROOFTOP World’s First Three-Phase Off-Grid System With Lithium-Ion Battery Supplies Power to Alpine Cabins

38 Exclusive Interview

With Sanjay Aggarwal, Fortum India Pvt Ltd

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

Enerparc Energy To Pilot GMR Hyderabad International Airport Limited, Journey Towards Achieving Their Green Energy Goals Through 5MWp Solar Plant

Punjab Invites Investors To Set Up Solar Power Projects

Exclusive Interview With Manoj Kumar Upadhyay, ACME Cleantech Solutions

SOLAR ENERGY How Solar Energy can be the Symbol of Hope for India’s Electricity Woes

JinkoSolar Signs Supply Agreement For 80 MW Modules For Distributed Rooftop Projects With China Southern Power Grid Synthesis Energy

Exclusive Interview

With Anurag Garg, Schneider Electric

Railways Plans To Harness Solar Power In Big Way

With Sudershan Gupta, Jakson Group

Kofi Annan Supports Chancellor Merkel And G7 Leaders’ Statement On Cutting Fossil Fuels And Promoting Renewable Investments In Africa

14 IFCSupported Study Confirms Climate Change Risks For Investors, Points To New Opportunities

Exclusive Interview With Ivan Saha, Vikram Solar

Is BJP Led GOI Serious of Make in India ?

CO NTE N T

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

11 global branches in Germany, Italy, Switzerland, US, Canada, Australia, Singapore, Japan, India, South Africa and Chile; 12 sales offices in China, Spain, UK, UAE, Jordan, Saudi Arabia, Egypt, Morocco, Ghana, Brazil, Costa Rica and Mexico; and five production facilities in China, Portugal, South Africa, and Malaysia.

Eq Business & Financial News 7-23

SOLAR INVERTERS 41 Multilevel Inverter With Smart Control Technique For Solar Pv-Fuel Cell Hybrid System Applications

SOLAR THERMAL

SOLAR OFF GRID & ROOFTOP 51 DJB commissions a 50 KW Solar Power Plant at its Head Quarter, Varunalaya Office Complex 36 On-Grid Case Study 45 Shivam Photovoltaics Pvt Ltd has installed 20KW Roof Top Solar Power Plant at COSMOS INTERNATIONAL School

SOLAR ENERGY

52 Why Manufacturing Industry should stop Burning fossil fuels for Low temperature applications during day time

SOLAR THIN FILMS 24 “CIGS – The Technology of Choice as India’s Solar Market Heats Up”

quater results

-by saumya bansal gupta “EQ International”

Page : 56-74

Need Of Good Quality Module In INDIA & How Sova Power Working On It

BALANCE OF SYSTEM 54 Combiner Boxes for Solar PV power plants

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BUSINESS FINANCIAL

Achievements And Initiatives Of Ministry Of Power, Coal And New & Renewable Energy In One Year The past 365 days saw many record breaking achievements and launch of several foundational initiatives towards realizing Prime Minister Shri Narendra Modi ji’s vision of 24x7 affordable power for all.

22,566

highest ever power capacity addition

highest ever increase in transmission line capacity

circuit kM.

6 8.4%

power generation growth was highest in 20 years Investment of

9,865 crore

3.6%

Lowest ever power deficit in India’s history

22,100

66,554 MVA

highest ever increase in substation capacity

8.3% coal production growth highest in 23 years

42%

solar capacity increased by

approved for upgrading power systems in 8 North Eastern states (Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura). Transmission line approved with investment of Rs 26,000 crore to evacute power to southern region from western region.

Clean energy will be prioritised with

solar parks

of about 100 MW each planned & a Rs 38,000 crore green energy corridor being set up to transmit renewable energy.

highest ever coal production increase by Coal India

Million Tons

uture plans launched include more than5 times increase in renewable energy capacity to 175,000 MW by 2022 (Organized Renewables Financing Conference, RE-Invest 2015 which attracted commitments of 273,000 MW), 5 new UMPPs in plug-n-play mode(total 20,000 MW), reduction in peak load shortages through revival of stranded gas based power plants through transparent e-bidding, Rs. 1.09 lakh crore investment in sub-transmission and distribution through Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY) and Integrated Power Development Scheme (IPDS) and Rs. 1 lakh crore of new transmission projects to be bid out in the current year.

Under the CSR programme, over 1,25,000 school toilets taken up at a cost of -

2,250 crore

All bulbs to be replaced with LEDs over next three years resulting in huge savings in power bills for consumers while proposed amendments to Electricity Act will give consumers power to choose and change power supplier with competition improving affordability and service. Focus on development of backward regions is our government priority.

particularly in states like Uttar Pradesh, Bihar, Odisha , West Bengal , North East etc.While the above plans lay down a clear roadmap towards24x7 affordable power for all, the performance so far provides ample confidence that Prime Minister’s mission will be fulfilled.

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BUSINESS FINANCIAL

T Enerparc Energy To Pilot GMR Hyderabad International Airport Limited, Journey Towards Achieving Their Green Energy Goals Through 5MWp Solar Plant Enerparc Energy Pvt Ltd is glad to announce the completion of ground breaking ceremony within Rajiv Gandhi International Airport (RGIA) complex for setting up 5MWp solar power plant. The energy generated from the solar power project would be internally consumed at the airport.

“RGIA is one of the major hubs in Southern India and the first Greenfield airport to be built and operated on a public private partnership model. Over the years we have adopted several green practices and have received prestigious Awards such as ACI Level-3(Optimization) Airport Carbon Accreditation. The 5Mwp solar project will take our commitment further by producing enough green power to meet the entire day-time requirement of the airport. ”

- Mr. SGK Kishore, CEO, GMR Hyderabad International Airport

June-July 2015

he project would be constructed occupying approximately 25 acres of barren land within airport premises. Now with ground breaking ceremony done, work on project has started in full swing and it is expected to achieve grid connection within next 3 months. Once installed, solar system would help GHIAL in reducing carbon emission by whopping 6500 Tons per annum furthering their cause of environmental protection and growing business in sustainable manner.

“We are absolutely delighted to work with GMR Hyderabad International Airport on this 5MWp solar project. Solar energy has reached grid parity in India and in many states it is cheaper to generate your own energy using sunlight rather than buying from the utility. Such self-generation and consumption projects as that of Hyderabad International Airport are trendsetters and we are delighted to be selected as an EPC and O&M contractor for the same”

- Mr. Santosh K M - Managing Director, Enerparc Energy Private Limited.

With envious track record of installing more than 285MWp of solar power plants in airports across the globe including an existing 2.1MWp solar project in Delhi International airport in India, Enerparc has the requisite knowhow and experience in handling such complex projects With ever increasing commercial tariffs and high demand of energy, many airports in India are looking at ways and means of reducing energy cost and installing solar power plant is one of the novel idea they have hooked upon. Enerparc is already in discussions with several of them and helping them in their pursuit of converting empty vast tracts of non-usable land in airport premises into cash saving / revenue generating machine. Enerparc Energy sees huge traction and potential for this market of Captive generation for Self consumption not only on airports but also with many other customers paying industrial and commercial tariffs.

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A brand of Larsen & Toubro Limited

Regd. Office: L&T House, N. M. Marg, Ballard Estate, Mumbai - 400 001. INDIA CIN: L99999MH1946PLC004768

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June-July 2015

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BUSINESS FINANCIAL

Module Manufacturer Vikram Solar To Supply US Master Distributor With 20 MW Of Solar Modules PV module manufacturer Vikram Solar, today announced that the company has signed a master distribution agreement for residential and commercial PV installations with a leading US solar wholesaler, Clean Energy Distribution of Denver.

nder the terms of this strategic agreement, Vikram Solar will supply Clean Energy Distribution with a total of 20 megawatt peak (MWp) of high performance PV modules through December 2016, which includes 8 MWp of scheduled delivery during 2015. The agreement has within its terms a detailed and dynamic program of expansion that will lead to considerable increases on the initially stated volumes, Vikram emphasizes. Specifically created to provide coast to coast, instant response and 24 hour delivery, the Clean Energy infrastructure and affiliated regional partners anticipate extensive further market penetration within their existing customer base of residential and commercial consumers.

“Our solar products sales growth to date has been ahead of the market. With Vikram, we believe that this rate of growth will now increase dramatically, based on the higher harvesting density, and the technical competence that underscores the products design, superior performance and longevity of Vikram modules. Our collective initiative to provide ‘joint’ market development is fundamentally aligned to our existing business model, and therefore naturally integrates into our way of working with little or no disruption and only major positive benefits.” - Jesse Stubbs, President and

CEO of Clean Energy 10

June-July 2015

Ken Oatman agrees: “Our two companies’ alignment to develop the consumer solar PV market allows both organizations to play to their strengths without massive disruption or extended learning periods. This allows for faster, deeper, wider market penetration and brand development, that are not only strategically required, but allow exponential growth as the existing sales channels are broadened. We share with Clean Energy the strategic goal of acquiring and retaining repeat growing customers, and are delighted that our solutions to the solar PV market, fulfill this requirement when evaluated by an experienced provider.”

- Ken Oatman, Vikram’s Head of Business Development for the Americas

Due to Vikram, the roll out program for the aforementioned market development is underway, with the North American patrons able to access the cost effective solutions immediately from available 60- and 72-cell module inventory in Denver and California.

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The right solution for Photovoltaic Power Systems. More than 750 MW PV projects already equipped with Bonfiglioli Inverters in India.

As one of the world’s leading players in clean energy today, Bonfiglioli has the innovative know-how and technical capacity to bring medium-large and utilityscale PV installations to life. Bonfiglioli designs and manufactures a wide range of hi-tech power conversion systems up to 3 MW turnkey solutions inside the Bonfiglioli Vectron center of excellence in Germany, ensuring an optimal return of investment. In-depth understanding of markets dynamics, 17 commercial subsidiaries, four photovoltaic production centers on three continents and a wide range of inverters, make Bonfiglioli a long-standing and riskless industry player for photovoltaic field developments anywhere in the world. The future is bright with Bonfiglioli! Bonfiglioli Renewable Power Conversion India (P) Ltd No. 543, 14th Cross, 4th Phase, Peenya Industrial Area, Bangalore - 560 058 Ph: +91 80 2836 1014 / 2836 1015 • Fax: +91 80 2836 1016 www.bonfiglioli.in • brpci@bonfiglioli.com www.bonfiglioli.com

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June-July 2015

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BUSINESS FINANCIAL

& Railways is planning to come out with a solar policy for procuring-

1000 MW

solar power in the next five years

T Railways Plans To Harness Solar Power In Big Way Railways has rolled out a non-AC coach of RewariSitapur passenger train lit by solar panels installed on its roof as part of its plan to harness the green source of energy in a big way.

It cost about Rs 3.90 lakh for equipping the non-AC coach of Rewari-Sitapur passenger train.

Coaches of Shan-ePunjab Express and Taj Express are also going to be equipped with solar power shortly. - A senior Northern Railway official said. Railways will save Rs 1.24 lakh per year in power cost.

he solar panels generate about 17 units of power in a day which enables the lighting system in the coach.Currently we will be installing solar panels on non-AC coaches only, he said.Solar panels have also been provided on top of coaches of two narrow-gauge trains plying on PathankotJogindernagar route in Kangra Valley section and KalkaShimla section on trial basis. “On evaluation of trial and cost benefit analysis, further study of economic viability will be undertaken,” he said.Railways proposes to harness solar energy by utilising roof-top space of railway stations, other railway buildings and land including through the PPP mode as per the feasibility, the modalities of which are being worked out. Railways has plan to generate 1000 MW solar power in the next five years, Railway Board Member (Electrical) Navin Tandon said.Steps are being taken to install solar plants at railway building rooftops and level crossings across the country, he said.According to the plan, railways proposes to install solar power plants of about 8.8 MW capacity at railway stations, railway office buildings and level crossing gates throughout the country under railway funding.These include provision of 10 KWp solar PV modules each at 200 stations under various Zonal Railways, provision of total 4.05 MWp Solar Photo Voltaic (SPV) at roof top of 21 railway office buildings and provision of total 1.3 MWp capacity Solar Photo Voltaic (SPV) plants at 2000 Level Crossing gates on Indian railways.

Railway Minister Suresh Prabhu has also emphasised on promotion of sustainable development and reducing dependence on fossil fuels.The generation of solar supply will help railways supply power at remote locations and saving in diesel due to reduced running of diesel generators.

Sebi Orders With holding Payouts In Select Surana BSE and the NSE recently asked their trading members to with hold securities and fund payouts with respect to certain trades done in Surana Solar shares in the previous two days.Surana Solar shares have fallen over 32 per cent in the last two trading sessions following reports that ace investor Rakesh Jhunjhunwala had not bought shares worth Rs 2.56 lakh in the company on June 9. In separate circulars, the two stock exchanges said that “payout of securities and funds” with respect to four transactions in the company’s shares 12

June-July 2015

should be withheld until further notice. The payout of funds shall include funds payment arising out of close out of the said security in respect of these settlements as well, the circulars said.Earlier in the day, circulars were issued by the exchanges for withholding payout of securities and funds in compliance with Sebi directives. The Securities and Exchange Board of India (Sebi) had asked the stock exchanges to “to stop payout in the scrip of Surana Solar for June 10 and 11”. As per the data on the bourses, Jhunjhunwala had bought shares worth

Rs 2.56 lakh in Surana at an average price of Rs 53.74 in a bulk deal on the NSE on June 9. But later, it was known that the deal was not done by him but his namesake and this triggered the sell-off in the counter. As the news went viral, investors dumped the shares on Wednesday and the sell-off continued today as well.Surana Solar, formerly known as Surana Ventures, makes solar energy systems with focus on solar photovoltaic modules.Shares of the company fell nearly 10 per cent to close at Rs 32.25 apiece on the BSE today.

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BUSINESS FINANCIAL

“Sova Power - The First Company To Get Enlistment Certificate From SAIL Sova power ltd. (spl) has become the first company amongst the solar pv module manufacturer who got the vendor registration in maharatna company like steel authority of india limited (sail). Spl applied to them with an intension to join in the nation’s motion to make the nation clean and green. The raw material division of sail has issued enlistment certificate (vide supplier code 193310945, area code31, status code-3) on 20/05/2015 valid up to 17th day of may of 2020. Sova power ltd. Feels with this it can spread the impact of solar power to the people of india. Spl loves to serve the country.”

India & USA Launch of a New Initiative PEACE Signs a MoU on Cooperation to Establish the PACE Setter Fund

JinkoSolar To Donate Solar Modules To A Jain Pilgrimage Site In Jharkhand, India

JinkoSolar will donate 3kW solar modules to Shikharji, a Jain Pilgrimage Site in Jharkhand, India, to power the temple complex. The modules will set a model of renewable energy for the local area where people are suffering from severe power shortage. Shikharji receives about hundreds of thousands pilgrims per year. Jinko Solar’s logo will present on their way to the site.

India and the United States of America signed a Memorandum of Understanding (MoU) on Cooperation to Establish the PACESetter Fund – A fund to support the Promoting Energy Access Through Clean Energy (PEACE) track of the U.S.India Partnership to Advance Clean Energy (PACE) to accelerate the commercialization of off-grid clean energy through early-stage grant funding grants to develop and test innovative products, systems, and business models. The MoU was signed by Shri Upendra Tripathy, Secretary, Ministry of New and Renewable Energy from Indian side and by Shri Richard Verma, United States Ambassador to the Republic of India from USA side on 30th June, 2015 at New Delhi. The Government of India and the United States of America have announced the launch of a new initiative “Promoting Energy Access through Clean Energy (PEACE)”. This ambitious cooperation is a new tract under the U.S.-India Partnership to Advance Clean Energy (PACE), a flagship initiative on Clean Energy that combines the resources of several U.S. agencies and GOI Ministries. This has also been listed in the Joint Statement during the visit of President of USA to India in January, 2015. India-U.S. corpus of about Rs.500 Million ($8 Million U.S. Dollars) have been drawn on 50:50 sharing basis. Under this, a Steering Committee comprising the Secretary of the Ministry of New and Renewable Energy and the United States Ambassador to India, and three representatives from each side has been constituted. It was agreed to cooperate through technical and commercial innovation and the advancement of clean energy in off-grid space.

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June-July 2015

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BUSINESS FINANCIAL

he study, “Investing in a time of climate change,” led by M erc er an d sup p o r te d by IFC, in partnership with the Federal Ministr y for Economic Cooperation and D eve l o p m e nt , G e r m a ny and the UK Department for International Development (DFID), is an update to a 2011 report. It estimates the impact on investment returns through to 2050 and offers insights on how to improve the resilience of an investment portfolio in a time of climate change.

IFC-Supported Study Confirms Climate Change Risks For Investors, Points To New Opportunities A new study released today by IFC, a member of the World Bank Group, and Mercer shows that implications of climate change pose serious risks for investors and that integrating climate risks into investment strategies can help with investor return outcomes due to greater awareness of exposure to climate -sensitive sectors and asset classes.

while the renewable sector will win.

June-July 2015

- Christian Grossman, IFC Director for Climate Change

“The study can help investors address uncertainty by guiding them on assessing their exposure to climate risk and improve the resilience of their portfolios. It can also send a clear message to policy-makers that resolving the uncertainty around the policy direction of carbon pricing will be an important first step toward transitioning to a low carbon economy,” he concluded. The study warns the investors not to expect that the future will mirror the past, particularly at a time when economic growth is heavily reliant on an energy sector powered by fossil fuels. It cautions the investors that impact on returns from climate change are inevitable – irrespective of which climate scenario -- 2 or 4 degree -- unfolds. The new research also points to opportunities for investors in an economy that would transition to a 2 degree low carbon scenario, laying out the fact that this scenario would not jeopardize financial returns for long-term diversified investors. “Whilst it is challenging, we have attempted to quantify the potential investment impacts of climate change. We recognize that markets do not always price in change; they are notoriously poor at anticipating incremental structural change and long-term downside risk until it is upon us.”

- Jane Ambachtsheer,, Chair of Mercer’s Responsible Investment team

The report also finds that climate change will give rise to investment winners and losers, with the energy sector becoming the most impacted-

The coal industry will be the biggest loser

“This new study led by Mercer could not be more timely on the road to the UN climate conference in Paris.”

In the near term, investors need to ask what if climate change related policies are introduced more rapidly than anticipated and in the medium term, investors need to consider how to manage asset class and industry sector risks and impacts on returns.Tackling climate change remains a strategic priority for IFC – one of the world’s largest financiers of renewable energy for developing countries and one of the largest issuers of green bonds.

Last year IFC surpassed its climate-smart investment target of 20 percent of IFC’s longterm financing, reflecting a growing appreciation that clean energy, resource efficiency and climate change adaptation represent areas of opportunity for the institution and the clients.

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BUSINESS FINANCIAL

JBM Group announces Foray In Solar Energy Sector The S1.3 Billion JBM Group, the leading automobile component manufacturer and engineering services provider, recently announced its foray in the solar energy sector.

he group plans to invest Rs. 1600crin the next 3 years and have a combined capacity of 300MW under the newly formed entity – JBM Solar (P) Ltd.JBM Solar plans to be an independent power producer (IPP) with focus on both, ground mounted and solar rooftop projects. JBM Solar has already commissioned a rooftop solar installation at the India Habitat Center generating 250KW. The company recently also bagged the prestigious order from Haryana Govt. for a capacity of 20MW. This will be largest ground solar power plant in the state of Haryana till date.JBM Solar is currently in discussion with various state discoms for setting up more solar projects.

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“With the Indian national solar target increasing from 20GW to 100GW by 2022 and our government’s ongoing focus towards building smart cities, we feel this is the right time to enter into the solar power sector. Going forward, we project that the solar power vertical shall contribute around 15% of the total revenue at the group level. We also plan to expand this business to wind energy and biomass in the next phase”.

- Mr. Nishant Arya, Executive Director, JBM Group

“With clean energy getting international thrust, we are extremely bullish on our latest foray. We also plan to hire upto 100 people in the solar vertical” added Mr. Arya. With growing pressure from the international community on India to take serious step on the issue of climate change the government, has undertaken ambitious steps like National Solar Mission with objective of making India a global leader in solar power. India is endowed with a vast solar energy potential. The country receives one of the highest global solar radiations - an energy of about 5,000 trillion kWh per year. According to recent data,renewable energy contribution stood at 31.70 GW of the total installed capacity of 245 GW in the country as on 31.03.2014. Under the original National Solar Mission target, India had planned to add 9 GW between 2014 and 2017 and an additional 10 GW between 2018 and 2022. The current installed solar power capacity in India is just less than 2.7 GW.

June-July 2015

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BUSINESS FINANCIAL

R JinkoSolar Signs Supply Agreement For 80 MW Modules For Distributed Rooftop Projects With China Southern Power Grid Synthesis Energy JinkoSolar Holding Co.Ltd. a global leader in the PV industry, recently announced that it has signed an agreement to supply 80 MW photovoltaic (“PV”) modules for distributed rooftop projects to China Southern Power Grid Synthesis Energy Co.Ltd.

According to the terms of the agreement, JinkoSolar will supply 80MW solar modules to CSE for a number of distributed rooftop solar projects located in Guangdong and Hainan provinces. JinkoSolar has already delivered the first shipment of PV modules. CSE is the subsidiary of China Southern Power Grid (“CSG”) which focuses on the development of renewable energy and energy saving. CSG is one of the two largest state-owned electric utility companies in China that invests, constructs and operates power networks in Southern region of China. CSG is heavily involved in the development of clean power generation especially solar power and has become one of the leading distributed solar project developers in South China.

“We are delighted to work with CSE, a company that recognizes JinkoSolar for its product quality and market reputation,” We are optimistic about the development of distributed solar projects in China with the strong support from National Energy Administration. With the domestic market in transition from ground-mounted to distributed solar projects, we are glad to work with CSE to jointly promote the development of distributed generation and to optimize energy mix in China. ”

- Mr. Xiande Li, Chairman of JinkoSolar

Enerparc Energy Pvt Ltd Announces Receipt Of Repeat Order From AUMA India Private Limited Further to completion of its first phase of solar rooftop project at AUMA India Private Limited for 151KWp, Enerparc Energy is glad to announce recently receiptof repeat order from AUMA for their expansion phase.In the expansion phase Enerparc would further install 220KWp of Solar power plant covering roofs of their Corporate Office, Canteen and Plant 3 increasing overall installed solar power plant capacity to 371KWp. AUMA has already applied to BESCOM for sanctioning of net metering facility as per scheme of Karnataka government for the previous project of 151 kWpand any surplus energy generated especially during weekly offs and holidays would be exported back to grid of BESCOM. 16

June-July 2015

“Repeat order from our esteemed customer AUMA India is testimony to our professional approach and quality work done by our team during first phase of the project execution” says Mr. Chenthil Kumar – Executive Vice President of Enerparc Energy. First phase of project, which installed 151KWp of roof mounted solar power plant on AUMA’s Plant 1was completed within record time of 75 days from order receipt. Also generation achieved so far from the time project has been commissioned is surpassing estimated generation figures consistently month on month basis.With expansion of solar power plant by another 220KWp, AUMA would be moving closer to their internal

goal of further reducing dependency on fossil fuel based energy sources and making contribution to environment by overall reducing 442 Tons of Carbon emission per year. Mr. Yashwant Jannu – Vice President of R&D and IED of AUMA India mentioned “With satisfying experience in dealing with Enerparc ‘s team during execution of first project,we were very sure that we would like to get Enerparc again on the board to complete our expansion phase.” With completion of expansion phase, AUMA’s 50% of overall power requirement would be satisfied from clean energy generated by solar power plant following model of “Self generation for Captive consumption”

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Hitesh Doshi

K Subramanyam Former CEO Tata BP Solar

BUSINESS CMD - Waaree FINANCIAL Energies Ltd.

Rabindra Kumar Satpathy - CEO-Renewable Power Emami Power Ltd

Shaji John Chief Solar Initiatives, L&T

Shivanand Nimbargi MD & CEO Green Infra Limited Ravi Khanna - CEO Solar Power Business Aditya Birla Group

EQ International Magazine

Editorial

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

Advisory Board

Rajesh Bhat Managing Director juwi India Renewable Energies Pvt Ltd

Gaurav Sood Managing Director Solairedirect Energy India Pvt Ltd Pashupathy Gopalan Managing Director MEMCSunEdison

Himamsu Popuri CEO Nuevosol Energy Pvt. Ltd. Inderpreet Wadhwa CEO Azure Power Gyanesh Chaudhary Managing Director Vikram Solar Private Limited

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Arturo Herrero CSO Jinko Solar

June-July 2015

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BUSINESS FINANCIAL

UK Firm Backs India’s Renewable Energy Mission India’s goal of multiplying its renewable energy output is an achievable target, an Indian- origin chief of a UK-based energy firm has said, highlighting the need to work through the country’s internal and external trade policies.

A “The Indian government recently set an ambitious goal of adding 100 Gigawatt of solar capacity and 75 GW from other renewable sources by 2022 at over USD 100 billion investment.This could make India one of the largest solar power markets in the world”

- Samir Brikho CEO of Amec Foster Wheeler

s with anywhere in the world, India will need to work through its internal policies and external trade policies, including its approach to support financing the projects. Improvement in power capacity will take time and the oversupply of domestic power plant equipment is expected to drive fierce competition.“India is also one of the most cost sensitive power markets in the world, with the high cost of renewable power coal power, an ongoing challenge,” Brikho, who has just returned from a visit to Chennai and Kolkata, said.Since entering the solar market in 2008, Amec Foster Wheeler has delivered nearly 700 MW of solar engineering, procurement and construction projects in the US. The firm also boasts the world’s largest 100 per cent fired Biomass plant in the world, the Polaniec Power Station located in Poland.India is the third largest power generator and carbon emitter behind China and the US, with a majority of its generation capacity coal fired, something Brikho warns has significant environmental and social impact. “With just 1 per cent of the required power, that’s 3 GW, currently supplied by solar and with the country expected to be the most populous in the world by 2030, there are now moves towards a reform of the energy sector. Doubling or tripling the output to 6-9 GW over the next four years is certainly a reasonable goal.”India has established manufacturing centres to support the solar industry and two distinct potential solar markets, utility scale and small distributed solar units on rooftops, potentially enabling significant opportunity for the future.” he said.Brikho said he toured India last week to highlight the importance of the India operations to the company.A 3.5 billion pound market capitalised company which designs, delivers and maintains strategic and complex assets for energy customers around the world, Amec Foster Wheeler has close to 1,000 personnel located in India.

8point3 Energy Partners LP, A YieldCo Formed By First Solar, Inc. And SunPower Corporation, Announces Pricing Of Its Initial Public Offering 8point3 Energy Partners LP a limited partnership formed by First Solar, Inc. and SunPower Corporation to own and operate a portfolio of selected solar energy generation assets, announced today that it has priced an initial public offering (the “IPO”) of 20,000,000 Class A shares, representing limited partner interests in 8point3 Energy Partners (the “shares”), at a price of $21.00 per share. In addition, the underwriters have a 30-day option to purchase up to an additional 3,000,000 shares from

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8point3 Energy Partners at the IPO price, less the underwriting discount. The shares of 8point3 Energy Partners will be listed on the NASDAQ Global Select Market under the symbol “CAFD” and begin trading on June 19, 2015.8point3 Energy Partners intends to use all of the net proceeds of the IPO to purchase the common units of 8point3 Operating Company, LLC (“8point3 Operating Company”), the entity that holds 8point3 Energy Partners’ project assets. 8point3 Operating Company intends to use the

proceeds from the sale of its common units (i) to make a cash distribution to each of First Solar and SunPower and (ii) for general corporate purposes, including to fund future acquisition opportunities. Goldman, Sachs & Co. and Citigroup Global Markets Inc. are acting as lead book running managers for the IPO. Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Credit Agricole Securities (USA) Inc. are acting as joint book-running managers for the IPO.

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BUSINESS FINANCIAL

IIT-M To Light 50 Rajasthan Villages With Solar Power

IIT Madras will light up 50 villages in Jodhpur and Jaisalmer districts using solar energy. Jodhpur Power Distribution Company MD Arti Dogra recently said 23 villages of Baap Panchayat Samiti in Jodhpur and 27 villages of Jaisalmer have been chosen for this pilot project.

entre will be providing Rs 10 crore for this project, she said. About 4000 houses in these villages would be provided electricity under this project using solar energy. The villages could not be provided electricity earlier as there was no power network around them, she added. The project will comprise installation of a tubelight, a LED, one fan and a battery charger with the solar panel for each household, she said, adding there would also be a provision for installing solar panel in a cluster.

“These remote villages could not be provided with electricity as there was no power network around them,” the MD said.A group of three students of IIT Madras will survey the villages this week, after which the terms and conditions, including the cost of the project, would be laid down, Dogra said.

- Arti Dogra MD, Jodhpur Power Distribution Company

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Kofi Annan Supports Chancellor Merkel And G7 Leaders’ Statement On Cutting Fossil Fuels And Promoting Renewable Investments In Africa

“I applaud Chancellor Merkel’s leadership in steering the G7 to a firm agreement to decarbonise the global economy over the course of this century. The communique’s recommitment to phasing out fossil fuel subsidies is encouraging and an essential first step to ensuring that agreement is honoured. The G7 has also heard the call from Africa and Africans to massively scale up investment in renewable energy across our continent. The G7 pledge to mobilise resources to accelerate the creation of a low carbon energy system in the region could be “a game changer”; helping Africa grow and leapfrog to a sustainable low carbon future. This is good for Africa and the global fight against climate change”.

- Kofi Annan, Chair of the Africa Progress Panel He Said this after the release of the G7 communique

The Africa Progress Panel welcomes the commitment made by the G7 to make deep cuts in emissions and to phase out of fossil fuels by the end of the century.

n this year’s Africa Progress Report, “Power, People, Planet: Seizing Africa’s Energy and Climate Opportunities”, the Panel calls on the countries that emit the most to raise their level of ambition and implement their promises at the December climate summit in Paris. With its 2015 summit communique, the G7 has signalled its collective intention to do just that. Governments in the major emitting countries must now place a stringent price on emissions of greenhouse gases by taxing them, instead of continuing effectively to subsidise them, for example by spending billions on subsidies for fossil-fuel exploration. The G7’s reaffirmation of its pledge to work for the elimination of inefficient fossil fuel subsidies is thus notable. Africa is well positioned to play a leading role in the global low-carbon transition, and will be able to do so fast, if significant investments are made now. Much of this financing will need to come from rich nations.

International climate financing is chronically underfunded and uncoordinated and must improve. At the Financing Development Summit in Addis Ababa next month, G7 countries can set a clear timetable for the previously agreed US$100 billion in annual climate finance each year. At the G7 summit, leaders reaffirmed their strong commitment to mobilizing this financing. This should be used to generate clean power. Germany as the leader in clean energy globally, and current Chair of the G7, can spearhead this process. In that context, the Panel also warmly welcomes the G7 commitment to assist in the acceleration of access to renewal energy in Africa.

The latest G7 communique is a clear statement of ambition and leadership from the world’s richest countries, which the Africa Progress Panel fully supports. Future generations, however, will judge this generation of leaders not solely by the principles they set out in communiqués, but by their actions. The Panel looks forward to the timely honouring of these pledges.

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BUSINESS FINANCIAL

Schneider Electric Provides Electrical Balance Of System For A 100 MW PV Power Plant In The Philippines Schneider Electric Solar Business, a global leader in solutions for solar power conversion chain, has been chosen to supply the complete balance of system and service contract for a 100 MW photovoltaic (PV) power plant in the Philippines.

his latest project win is on top of a 30 MW PV Power Plant that was commissioned in March 2015 and is providing solar power to the Philippine electrical grid. For both of these projects Schneider Electric is providing a fully integrated electrical solution using their next generation of grid-interactive technology which is fully compliant with the National Grid Corporation of the Philippines (NGCP) grid code. The complete solution includes Conext Core XC inverters, DC Boxes, Array Boxes, monitoring & control system, ring main units, medium voltage switchgear, and power plant controller; all of which support the new grid requirements currently being implemented in the Philippines. In addition to providing the balance of system components, Schneider Electric will also supply maintenance services for the complete solution for the next 10 years. This service contract will be executed by Schneider Electric’s local service team in the Philippines.

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“These two projects are a confirmation of Schneider Electric’s commitment to the growth of the solar market in Southeast Asia,” “We believe that it is the reliability and competitiveness of our fully integrated and standardized solution, along with our ability to provide a complete service contract with local service teams, which won us the projects.”

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BUSINESS FINANCIAL

Punjab Invites Investors To Set Up Solar Power Projects Punjab government recently invited investors to set up solar power projects in the state, saying it has identified 6,000 acres of land for setting up such projects.

D State owned Punjab Energy Development Agency (PEDA) has invited bids for setting up 500 MW of solar power projects wherein developers can bid from minimum 50 MW to maximum 150 MW with power purchase agreement for 25 years with the State power utility.

isclosing this here today, Bikram Singh Majithia, New & Renewable Energy Minister, Punjab said the developers will have an option to put up the allocated capacity at single location or maximum 10 locations with minimum capacity of 5 MW. He said to facilitate the developers, PEDA has identified 6,000 acres of land belonging to village Panchayats and private land owners, who are willing to give their land on lease for these projects.The successful developers will have an option to tie up with these land owners at terms and conditions to be decided by them with the land owners, he said.

It becomes imperative to set up Solar PV power projects to harness the abundant solar potential in the state where sunshine is available more than 300 days in a year. He said the state has taken major strides in the solar power generation capacity, from 9 MW in 2012 to 206 MW in 2015, and it could become possible with active participation of the private solar power developers.

- Bikram Singh Majithia, MNRE Minister, Punjab

In addition to it, in phase-II, 282 MW capacity solar power projects have been allocated and power purchase agreements signed, which comprises of 229MW ground mount and 53MW Rooftop projects.These projects are scheduled for commissioning by March 2016, he added.Majithia stated that the higher capacity addition in the Solar Power Generation sector has been possible only due to lot of facilitation and single point clearance being provided by PEDA and Punjab Bureau of Investment & Promotion.PSPCL provides a 25 years bankable power purchase agreement.Due to concerted efforts, major companies like Punj Lloyd, Wellspun, Azure Power, Essel, Acme, Lanco, Luminous, and investors from USA, Frnce Israel, have invested more than Rs 1,400 crore and set up solar power projects in the state, he said.

Land Acquisition For Adani’s Solar Park Underway Business conglomerate Adani Group has started acquiring land for setting up a solar park in Tamil Nadu tipped to be among the world’s largest at an outlay of Rs 4,536 crore. According to District officials, the group require 4,000 acres of land on lease for setting up the 648 mw solar power plant and of this 300 acres has already been acquired.On July 4, state-run TANGEDCO (Tamil Nadu Generation and Distribution Corporation) and the Adani Group

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signed an agreement for purchase of the entire power to be produced from the five solar power generation centres, proposed in Kamudhi in the district. District Collector K Nandhakumar said, the company is acquiring it on lease and ownership basis from private owners.The district administration has nothing to do with it, District Collector K Nandhakumar said.According to officials, only barren lands are being acquired from

individuals.Revenue officials said that so far 300 acres have been acquired in Kamuthi block by the Adani Green Energy (Tamil Nadu) Limited, but were tightlipped about the price at which it was acquired.The land has been purchased in Sengapadai, Pudukottai, M Karisalkulam, Mudhal Naadu and Kamudhi villages in Kamudhi taluk.The District Collector said no government land was being given to the group for setting up the plant.

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BUSINESS FINANCIAL

USAID To Assist IIFCL Raise $665M To Green Finance In an effort to scale up India’s renewable energy capacity, the U.S. Agency for International Development (USAID) today signed a memorandum of understanding (MOU) with IIFCL Asset Management Company Ltd. (IAMCL) to provide technical assistance for increasing investment in renewable energy in the country by $665 million.

he MOU was signed by Manpreet Anand, Deputy Assistant Administrator, USAID Asia Bureau, and E. S. Rao, CEO of IAMCL at their office in New Delhi. As part of the agreement, USAID will provide technical assistance to IAMCL to enhance its institutional capacity to access financial resources from a new class of institutional investors in international markets. The focus of the activities will be on designing, developing, and deploying innovative financing mechanisms that will improve funding for India’s renewable energy sector. In particular, USAID will assist IAMCL in the creation of Green Bonds and Infrastructure Debt Fund-Mutual Fund worth $665 million.

The Government of India recently proposed adding 175 Gigawatts of renewable energy by 2022. The ambitious plans by the government for clean energy sources will require the dynamic design and implementation of policies along with new sources of finance to meet larger investment requirements. This MOU between USAID and IAMCL will help drive clean energy development in support of the Government of India’s renewable energy targets

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“In a country where 300 million people still live without electricity, this MOU will prove to be a vital step toward improving a student’s ability to study longer; allowing an entrepreneur to extend commerce beyond sunset, helping a mother to give birth more safely, and making our streets safer for all. This MOU will enable India to advance its low-carbon growth and achieve national energy security,”

- Manpreet Anand, Deputy Assistant Administrator, USAID Asia Bureau

He said this after signing the MOU

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solar thin films

sol a r India’ et is m a rk t ed to e x pec GW by 3 - 6 g ro w ov e r year h c a e e a rs xt 5 y e n e th l of a goa with 0GW ing 10 re ach 22. by 2 0

“CIGS – The Technology of Choice as India’s Solar Market Heats Up” - Seth Stulgis,Senior Marketing Manager, Stion

ndustry experts expect 31GW to be in the ground by 2019. These newer solar markets, like India, that are just starting to heat up, are unique in that the utility scale market develops prior to the smaller residential and commercial markets. The same pattern is occurring in some US states, such as Georgia, who installed 45MW in 2014, with the majority of systems being utility scale. Four projects, each 1MW in size, were installed in Georgia last year, using Stion’s CIGS modules. Stion’s headquarters are in San Jose, CA near Silicon Valley and it manufactures its panels in the US as well, in Hattiesburg, Mississippi on an automated manufacturing line. Stion CIGs thin film panels are known for their aesthetics, high quality craftsmanship and increased power production. Stion’s CIGS thin film panels are composed of a single monolithic cell, which is jet black in appearance, and the high quality craftsmanship of an automated production line located in the United States cannot be matched. Streamlined low cost manufacturing and durable glass glass construction create a superior product. Whereas a majority of solar panels are still handsoddered, automated production lines produce a far more standardized finish product with fewer variations. The factory in Mississippi currently has the capacity to produce 60MW and will be able to produce 120MW by the end of the year. There is enough room in the existing facility to add an additional line which would increase the capacity to 250MW. Stion will build other manufacturing facilities in other parts of the world as demand necessitates.

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Stions is 100% owned by Khosla Ventures, founded by Vinod Khosla, the co-founder of Sun Microsystems. Khosla Ventures currently has over $4 billion under management. Vinod receive multiple degrees from the Indian Institute of Technology Delhi before receiving a masters from Carnegie Mellon and an MBA from Stanford in the United States. He has made a commitment to Stion due to the its technological advantages. With Stion headquartered in the United States, it also presents a number of financing options available to developers worldwide that may not be an option for panels produced outside the US. The World Bank, the Import Export Bank, the International American Development Bank, and the Multilateral Investment Fund all have extremely competitive financing programs and even grants to help deploy US manufactured technology all over the world.

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BUSINESS FINANCIAL

Vinod Khosla, Co-founder of Sun Micro Systems, Khosla Ventures

In terms of the technology, the increased power production comes from a number of factors, but two in particular. Stion’s CIGS technology has an industry best temperature coefficient of -0.26%, which means production decreases less in hot climates relative to crystalline silicon. This is particularly useful in hotter climates such as the Southeastern United States, but also in other solar markets that are developing in India, the Caribbean, and Africa. And, while traditional silicon panels degrade about one-half a percent each year, Stion’s thin film panels do not degrade due to the stable chemistry

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Over the past year the company has focused on a frameless line of panels specifically for the utility scale market. The frameless line has a number of benefits including lower manufacturing costs and increased performance.

of CIGS materials. There is no Potential Induced Degredation (PID) nor Light Induced Degradation (LID). Nor is there any moisture ingress. Due to the combination of a lower temperature coefficient and zero degradation, Stion’s thin film panels will produce at least 3% more than a traditional silicon panel installed in the same location in the first year, and closer to 8% more each year after year one. Proprietary cell and circuit design minimizes impact of shade and debris as well. Whereas with a traditional silicon panel if a leave shades 5% part of the panel, the production can drop by more than 50%, CIGS panels shaded by a leaf that covers 5% of the panel will only lose 5% production. Over the past year the company has focused on a frameless line of panels specifically for the utility scale market. The frameless line has a number of benefits including lower manufacturing costs and increased performance. The frameless panel costs less to manufacture, and costs less to ship due to its increased packaging den-

solar thin films sity. The frameless panel also cuts down on installation costs, as it does not require grounding and can be installed without clips by adhering the panels directly to the rack. It also is lighter weight which saves time and money on installation and on shipping. The lack of a frame also increases production by reducing soiling. Framed panels will have dirt and dust buildup along the bottom of the panel, where it gets trapped, but debris on frameless panels washes right off the panel.Stion’s frameless line has been proven on smaller utility scale products in Georgia, and four and ten Megawatt products are currently in development using the frameless panel. Due to the higher production factor of Stions CIGS technology, developers can actually use fewer kilowatts and henceforth fewer panels to achieve the same production as a traditional silicon panel. The benefits of the “power boost” increase the hotter the climate gets. “We expect to see increased returns over the lifetime of projects,” says Jim McGrath, VP of Sales for Stion, “whereas traditional panels with traditional degradation cut into the return on investment, the zero degradation factor of Stion panels combined with the low temperature coefficient will keep returns constant for the 25 year lifetime of the system.” CIGS modules are becoming more popular due their low manufacturing costs and increased power production. We have seen Japan’s solar frontier readily adopted in Japanese markets, which are known for high quality, and we are already seeing early development using CIGS in Africa, India, and Asia. First Solar’sCdTe technology was used for three of the largest solar projects in the US, for a total of 1,390MW spread over three projects in the Southwest. The island of Mauritius, just off the coast of Madagascar, is about to break ground on a 4MW solar farm using Stion’s frameless CIGS modules. With an average temperature of 24-27 degrees Fahrenheit, the superior performance of Stion’s panels in high temperatures is a feature that India and other emerging markets with hot climates all over the world can take advantage of. Thin film installations are becoming more popular all over the world. Performance data from projects in not only Georgia, but Florida and other hot environments have demonstrated the higher production. As states with hotter climates continue to develop larger and larger projects, CIGS technologies higher performance will prove to be the go-to technology.

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INTERVIEW

Interview with Anurag Garg

EQ : Wha t is your v formance iew on the o pe f Hon’ble P Modi, Hon M Shri Na r’ble Minis render New BJP te r Shri Piyus Go h Goyal & Renewable vernment in the la st 1 Projects u by RBI…K nder Priori year Including indly com ment and ty Sector Lending express y A.G : The our views perf of the Hon ormance of the pre ’ble Prime s ter should Minister a ent government an nd the Un be d that ion and proble viewed against the backdrop Power Minisms that w of the sho ere beque assumed rt a o led by PM ffice. Despite these thed to them when falls they Narendra hurdles, th Mod e Governm in all segm e ents, inclu i has fixed extrem ely high ta nt ding rene conventio rgets wable pro nal constr jects. Giv aints in th able for th en the e cou e Go The PM an vernment to have ntry, it is commend set such h d the Pow igh targets er M gamely ag . ainst all b inister have been p arriers an their effort d we are h ushing s will gath opeful e r p quent yea rs and su ace in the subsecceed in m eeting stiff targe ts.

EQ : Do you think the target of 100GW Solar by 2022 is achievable….What are the challenges and roadblocks? A.G : Solar power constitutes only one percent of India’s total energy mix. Although the target of 100 GW by 2022 is steep, it is achievable if the right measures are undertaken. Procuring funds at competitive rates is one of the biggest hurdles faced by solar producers, which is compounded by the sectoral cap on domestic lending. Power utilities also fail to meet their annual solar power purchase commitments. Considering this scenario, policy reforms and additional incentives that create an enabling environment are required to

ent, Solar ic id s e r P e ic ctr -V hneider Ele c S , s s e in s Bu 26

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INTERVIEW

attract foreign investments in solar power. But open-ended incentives should be avoided to prevent misuse by some players. Instead, a level-playing field must be created to encourage all players in solar. Sustainability and storage issues also affect solar power producers, since sunlight availability is low during monsoons and winters. Solar power plants also require vast tracts of land, which is cumbersome to procure in India. The Land Acquisition Act should be amended to facilitate the procurement of land for solar projects in national interest. Lack of awareness about the comprehensive benefits of solar energy is another barrier. The Government should take steps to promote proper awareness about solar energy and its benefits. If all these issues are taken care of, the solar power target is achievable.

ght ng ri t taki ets? n e m targ vern e Go eving the h t s I i some EQ : ps in ach taken e to s a ste h on nt set. be d nme over needs to imeframe tiG e re an : Th he t A.G s, but mo t within t n to drop lls is p e e o i e c g t s r i r s e ta the dec sola t will ve th , rt of achie instance on impo ction tha For ing duty ight dire plan. r p dum ep in the e 100 GW a st boost th

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EQ : Is the government planning & talking big but the action is yet to be seen? What are the expectations in the next 2-4 years? A.G : It should be borne in mind that unless one aims high, tall targets can never be achieved. While the amount of movement EQ : Co in the first year may as 25 S mment on the recent s olar Park seem somewhat inIncreas s, Solar on Ca chemes such adequate, we being the Clean E nals, RE-Inves lieve there is every t, nergy C A.G : T ess h e chance of making to be la Governmentâ&#x20AC;&#x2122; ud sv up lost ground in in augm ed since each arious schem e e of thes n ti subsequent years n targets g solar e will p s need . Rec cap la as projects gather platform ently, RE-Inv acity and mee y a role e ti traction. In the next elabora for various s st served as a ng the takeho n excell te upon two to four years ld en ers to m the and ren eet and t ewable ir individuals the expectations p e lans fo nergy. to be s r solar But usta are that the Governorder to ined and follo all efforts nee d wed thr ment implements a ensure ough in the slew of reforms and per dea goals are met as dlines. policy incentives that will enable public and private players to achieve targets, which would include attracting adequate overseas investments.

For instance, the sectoral cap should be done away with to improve funding prospects for solar. Therefore, there should be a separate funding limit for solar producers, which is distinct from the power sector limit. Efforts should also be undertaken to incentivize and promote energy-efficient storage of solar power.

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solar energy

India’s ‘Seabiscuit’

How Solar Energy can be the Symbol of Hope for India’s Electricity Woes - Aditya Goel IIT, Varanasi, Executive Director Ornate Solar

or those unfamiliar with the story of the Horse that Hollywood made famous, Seabiscuitwas a small horse who had an inauspicious start to his racing career. History though, remembers Seabiscuit not for his diminutive stature or early failings, but as an unlikely Champion who served as a Symbol of Hope to the American population during the Great Depression. Something which that was achieved through sheer will and a relentless desire to succeed

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Understanding how the proposal for inviting Solar tariff bids in Dollar terms and India’s largest Thermal Power Generation company may hold the key to making the dream of 24x7 power a distinctive reality for 1.3 Billion citizens, even in the midst of contradictions that riddle the growth of India’s power sector.

To draw an unlikely analogy, India’s renewable energy industry has been much likeSeabiscuit in terms of its inauspicious start. A fact openly accepted by our country’s Minister for Power, Coal & Renewable Energy – Mr. Piyush Goyal, who when asked at a recent interaction about the much anticipated roll-out of India’s 100 GW plan for Solar Power and the reason for its delay, aptly replied: “I have publicly pledged myself to cause of the 175,000-Mw capacity target... We are working on various things to bring the cost down and make this viable. Unless we plan properly, the 32-year-old ministry, which has achieved 3,000 Mw of solar capacity, will only manage to double it over the next five years. Instead, I want to see a 3,300 per cent increase.”

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solar energy India’s Power Sector is certainly unique in the way it is structured, and hence the difficulties that it presents are also distinctly challenging. Issues that the country’s leadership have to deal with range from the inadequacy of sufficient power generation, to the unavailability of transmission infrastructure, an unstable grid network, to a nepotistic culture of politics wherein politicians have believed it is their right to promise free power to favoured constituencies.

It’s a well-known fact, that India is a country riddled with contradictions. As a popular forward appropriately puts it, ours is a Nation Where a pizza is delivered to you faster than an ambulance or the police, Where you can get a car loan @ 5% interest, but an education loan only @ 12% Where 1 kg of rice costs Rs. 40, but a Mobile sim card is available Free Therefore the challenge before the government - as they work towards the fulfilment of their promise to provide 24x7 power to all 1.3 Billion citizens of

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India in the next 5 years – is not to find a way to merely kil 2 birds with 1 stone, but a way to kill 10 (or however many more it may be practically possible) with a single stone – in a limited period of time! Therefore it should be no surprise that India’s power sector is plagued by a similar set of seemingly illogical - yet very real, inconsistencies. India’s per capita power consumption, which stands at about 940 kWh, is amongst the lowest in the world. By comparison China consumes 4,000 kWh per capita whereas developed economies average 15,000 kWh per capita. To make the figures intelligible to the average reader – 940 kWh units of electricity is just about enough to power 4 lights and 2 fans (and nothing more) for 8 hours daily throughout the year... Hence the emphasis of the government on the creation of capacities for generating the power required to meet with the evident shortfall in electricity available for supply to households and industry, would appear to be perfectly rational. This would also explain the focus of India and the world on the targeted addition of 100 GW of Solar Power over the next 7 years, as Solar Energy today provides the fastest means of creating a reliable and sustainable source for generating power. Yet… “On April 29, 2015 there was so much surplus power at 3.30 pm that the national grid monitoring station indicated power was available at “zero rupee per unit. Similarly on 7th May ‘15, there were no takers for 100 million units of electricity, equivalent to 1,500 MW of coal-fired and 2,500 MW gas-based capacity, from state-run generation utility NTPC” Similarly with transmission infrastructure. The responsibility to establish the transmission infrastructure required to provide last mile connectivity of electricity to consumers is the responsibility of

State owned Electricity Utility companies. It is however an acknowledged fact that State Electricity Boards are financially overstretched due to the ‘fiscal imprudence’ of states which have caused individual state DISCOMS losses of upto Rs. 15,000 crore ($2.3 Billion) per year. Hence the only logical way for them to be able to invest into the creation of the required infrastrucutre would be by making their operations profitable. Inspite of this, State governments continue to promise subsidised power to preferred sectors and constituencies, even as the State’s Electricity Regulatory Commission is preparing itself to pass an order on delayed power purchase adjustment charges (PPAC) which could see power bills shoot up by upto 20% in the National capital. Three years ago, north and east India faced the dubious distinction of waking up 680 million people in the middle of a mid-summer nightmare as the northern Grid collapsed. It took more than 2 days for the grid to start wheeling out power normally. The reason for the collapse was states overdrawing more than their centrally allocated power from the National Grid. These are the same states which are unwilling to purchase surplus power available with NTPC, and the same states which promise free/ subsidized power to gain political leverage thereby developing a culture where freebies are seen as an entitlement, and electricity is assumed to be a free resource, just like air and water. None of the above though, leaves us any wiser on how the Government is equipped to handle these contradictions. Neither does it seem to suggest how Solar power may be the ‘Symbol of Hope’ for India’s electricity woes. Not till we begin to look at recent policy annoncements and analsye the latest government actions a little more closely…

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solar energy

•

In an earlier article the significance of NTPC’s alignment with the Central Government’s National Solar Mission had been delved upon in depth. NTPC – which is India’s largest energy conglomerate and 431st in the ‘2015, Forbes Global 2000’ ranking of the World’s largest companies – had pledged to buy 15,000 MW of Solar power on behalf of the MNRE in addition to setting up 10,000 MW of Solar power in its own capacity as a power developer. Likewise Coal India Ltd., Indian Railways, SJVN Ltd. and Power Grid have made similar commitments to establish Solar power plants with the

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pledged capacities ranging from 1 GW – 4 GW. All of the above, like NTPC, are independent of the political control of the States, and hence free from self-fulfilling political policies which seem to govern the procurement of ‘power’. •

Announcements and implementation in India though always seem to be separated by years of patience. That appears fortunately not to be the case in respect of India’s 100 GW Solar Mission, as in the 2 weeks following NTPC’s announcement, the road map for their establishing/ procuring 25,000 MW of Solar power has been made publicly available, and 5 tenders for

the cumulative establishment of 1930 MW of Solar capacity have already been released. •

Of this tendered capacity - 1420 MW is on Behalf of MNRE, where NTPC would enter into longterm PPA’s with Power developers for the purchase of the generated solar electiricity, while 510 MW would be awards for EPC contracts for the establishment of Solar power generation plants for NTPC itself. This is in addition to the 500 MW EPC contracts recently awarded by NTPC for the construction of its first 4x125 MW solar plants in early May ’15.

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solar energy

the dollar, to protect Indian distribution companies who will commit to pay the tariff in dollar terms for such a long period, a hedging mechanism is being worked out, wherein the ministry may also consider imposing a “hedging cost” on the dollar tariff.

In addition to this accelerated roll-out of capacities the Government has also publicly stated its intent to consider dollar tariffs in order to encourage foreign investments as it plans to auction 15,877 MW of capacity in 17 approved Solar parks this year alone. While the modalities of the same are still being worked out, the basic framework for dollar tariff bids appears to be along the following lines, which would most likely be facilitated through PTC India Ltd. This comes in the backdrop of PTC (Power Trading Corporation) firming up its renewable energy plans – as a part of which PTC India Financial Services (PFS) and International Finance Corporation (IFC) have recently collaborated to finance green energy projects. »

As international power generating firms are interested in setting up solar plants in the country if they can receive payments for the power sold in dollar terms, the government would look at inviting competitive bids to allocate capacities in Solar parks/ UMPPs in USD. This tariff would be fixed for 20-25 years, and the Indian electricity distribution firms - who cannot bear the risk of currency fluctuation - would sell the power to its consumers in rupee terms. However, because of the fluctuation in the rupee vis-a-vis

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The funds collected as the “hedging cost” would be put in an escrow account to cover for the depreciation of the rupee versus the dollar, while the hedging cost of 1.5 cents, or 90 paise, would be added to the tariff.

The tariffs are expected to be in the region of 6 cents, or Rs 3.60 at an average exchange rate of 60 to a dollar, with a normal rate of depreciation. The final tariff, thus would work out to be 7.5 cents - Rs 4.50 a unit.

As a benchmark, in today’s power scenario in India, the electricity generated from solar energy is currently priced at around Rs 6 per unit, from coal at Rs 3-4 a unit and from gas at Rs 4.7 a unit.

The ministry expects to generate a hedge fund of Rs 6,000 crore, which would be enough to cover 3 per cent depreciation in the value of the rupee over the 25-year contract. However, if the rupee devalues by 5 per cent against the dollar,

then the money would be good for 15 years. For all the contradictions that may exist in India’s power sector, and for all the challenges that may stand in the way of the achievement of our government’s promise to provide 24x7 power to our citizens in the next 5 years; The one thing that we can be certain of as a country, is that any shortfall in achievement would not be due to the absence of enterprise or a lack of sincerity in the dedication, hard work and commitment towards a cause. Of the many things we could learn from the determination and resolve of ‘Seabiscuit’ what might be a more worthwhile takeaway for India’s people, is the spirit of the American Nation, which in the face of all doubt found reason to believe in the ability of a banged-up, undersized horse, even when such belief defied any historical or logical rationale. The ambitious 100 GW Solar Mission that India has embarked upon requires a similar belief if it is to see the success of ‘Seabiscuit’. Technological advancements have today made it possible for the Sun to light the path of our Nation’s transformation from being power deficient to becoming power sufficient. It is up to us to look up and find in the Sun our ‘Symbol of Hope’ to dispel the dark clouds of our country’s electricity woes.

June-July 2015

SOLAR ROOFTOP & OFF GRID

World’s First Three-Phase Off-Grid System With Lithium-Ion Battery Supplies Power to Alpine Cabins - From Hubert Deubler

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Lithium-ion batteries are long-established, tried-andtested solutions for grid-connected applications, resulting in other battery types rarely—if ever—being used nowadays in battery solutions to increase self-consumption. However, the situation is different in areas without access to a utility grid. Headquartered in Berchtesgaden, Elektro-Mechanik Meisl GmbH began specializing in solutions designed especially for mountain cabins and isolated islands more than 20 years ago and, in a close development partnership with SMA, has been building offgrid systems in extreme locations ever since.

June-July 2015

pen all year round, the Ostpreußenhütte is located 1,630 m above sea level close to Werfen in Austria and offers overnight accommodation for up to 48 mountain hikers. Located in the middle of Salzburg’s Limestone Alps, the area has no access whatsoever to the utility grid. Because of the cabin’s remote location the access roads that could potentially be used for transporting diesel are tricky to navigate—not to mention the fact that diesel generators are noisy and generate emissions that pollute the environment. These disadvantages in using diesel coupled with the remote location of the cabin and the high levels of solar irradiation in the area make it ideal for a solar hybrid system with integrated battery storage. The PV system with integrated battery storage ensures a year-round, eco-friendly electricity supply. Due to their chemical structure, conventional leadacid batteries quickly reach their natural limits in the extreme temperatures that prevail in the mountains and under high cycle loads. As part of collaboration with Sony and SMA, the concept of lithium-ion batteries for large, three-phase systems in off-grid applications quickly took shape.

Sunny Island and lithium-ion batteries ensure a year-round energy supply By June 2014, it was time to put the concept into practice. Following comprehensive load testing on both the SMA test bench in Kassel and Meisl’s test bench, the world’s first three-phase offgrid system with a Sony lithiumion battery began operating in the Ostpreußenhütte. The system comprises three Sunny Island 8.0H and four battery blocks with a total battery capacity of 38.4 kWh. Two PV systems (8.6 kWP) and a vegetable oil combined heat and power plant (20 kW) deliver clean electricity. The average electricity demand per day is around 60 kWh. The system has performed very well, with the only problem so far being that when the temperature in the battery room fell below 0°C during the winter, a software error caused the system to fail. The manufacturers, Sony and SMA, responded immediately by updating the software to prevent a recurrence of this problem.

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SOLAR ROOFTOP & OFF GRID

Off-grid systems for the highest peaks and remotest islands In addition to SMA inverters and battery banks, Elektro-Mechanik Meisl GmbH also installs combined heat and power plants, PV systems, water treatment systems, fire alarm systems and much more. These components are also used in on-grid applications and are complemented by an energy management central unit developed in-house to complete ongrid battery sets.

Hybrid energy supply sets a precedent

Outstanding cell technology and high level of modularity

Due to excellent feedback received so far, Meisl has already installed a number of other threephase, off-grid systems with a Sony lithium-ion battery. The largest system to date can be found in the perennially popular Rotwandhaus, which is located at an altitude of 1,737 m in the foothills of the Bavarian Alps. The electricity demand, which at times can exceed 150 kWh during the peak season, is covered by a PV system (15 kWP), a small wind station (5 kW) and a vegetable oil combined heat and power plant (25 kW). In the past, the Rotwandhaus experienced serious problems with the installed lead-gel battery due to very high power peaks and the associated large number of cycles. To minimize the system’s frequent failures, the battery was replaced with four Sony lithium-iron phosphate blocks with a total storage capacity of 76.8 kWh. Experience has also been consistently positive here, even with frequent load cycles. –

The Fortelion lithium iron phosphate cell from the Japanese manufacturer Sony offers a high level of resilience during load cycles, a high depth of discharge and large number of cycles. And as early as the cell and system design phase, particular attention was focused on system safety. The Sony-developed system also offers a high level of modularity, which enables an almost unlimited number of system configurations—and, in turn, optimum overall system design.

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The company also provides iron hardware and electrical engineering services for industrial plants, customized switch cabinet construction, retrofitting and machine original equipment. Upcoming scheduled projects involving three-phase Sunny Island systems with lithium-ion batteries include a large-scale Multicluster project in the depths of the Colombian Amazon, various smaller-scale offgrid projects in the Indian Ocean and a project to supply energy to a German Antarctic research station.

June-July 2015

INTERVIEW

Interview with Manoj Kumar Upadhyay

EQ : Are you Excited about the New JNNSM Target of 100GW by 2022...Is it realistic? MKU: Yes it is very much achievable given the appropriate measures taken by the Government. We are excited about the given target and looking forward for a substantial market share. EQ : What resources needs to be developed to achieve this target…Man Power, Critical Infrastructure (Land, Power Evacuation, Green corridors, Finance etc…) MKU: Financing is an important issue to streamline in order to achieve targets mentioned by the Govt.. Currently, Solar in included in the power sector financing which is limiting exposure of funding in solar due to performance of overall power sector. Therefore; solar shall be added in Priority sector funding to avail maximum benefits. This will include long term financing i.e. 20 years at affordable rates on non – recourse basis. EQ : What’s your view on the New Mr. Modi led BJP government…Expectations Met? MKU: Government is focusing on solving the energy requirement of the country and they are working towards removing all the bottlenecks and working towards 24x7 power for all. We believe in the Government and share the similar vision as an organization. EQ : What is the near future technology roadmap…Do you see module prices falling by another 30% or so or increase in module efficiency will thus increase module size and thus BOS costs will go down ? MKU:We do not believe that prices will go down further. Solar is more like a commodity now and more or less settled in the price band. It should not go down unless there is a disruption in technology. EQ : The New Govt Decision of not imposing Anti Dumping Duty and attempt to keep everyone happy…Please share your Opinion

r, ing Directo g a n a M d an Chairman Cleantech Solutions ACME 34

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MKU: We welcome this move and this is the win-win situation for all, as India with its domestic market will not be able to sustain supply against the demand ( with respect to current capacity). Govt. decision is based on the fact and logic and it’s not a question of keeping every one happy.

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INTERVIEW

EQ : New Government Announcements of Ultra Mega Solar Projects, Massive Solar Parks…are we in the right Direction MKU: Yes, it is. Solar park will help in achieving economy of scale. There can be only challenge on Financing and cost-effectiveness; as 50-200 MW are sweet spots. EQ : Utility scale market is highly competitive and getting concentrated in few hands…What’s your views MKU: Yes, it is true and it will happen more and more as the new tenders are expected to come without any ceiling on bidding capacity and without any tariff differentiation between players availing any benefit and not availing any subsidy/tax benefit. To maintain a healthy competition, and to hedge risk, it is essential to cap the capacity up to 200 MW and provide a level playing field for everyone. EQ : What financing structures/ models needs to be discovered to beat the traditional financing structures for renewable energy projects/manufacturing MKU: There is an urgency to discover new financing structure/models in order to achieve the ambitious target of 100 GW. Some of the non-traditional financing structure will be fixed affordable interest rate, longer loan tenure covering the life of the project, simplification and standardization of process for faster financial closure. EQ : What is the near and long term view on manufacturing in India… Does the Global Trade Wars Help? India’s DCR Mandates in JNNSM… Will this be enough MKU: India’s 100 GW has opened a sea of opportunities for domestic and international players. Manufacturing in India is a key for country’s growth but it should not happen at a cost of other things. At the same time there should be enough capacity and quality available under DCR to meet the targets set under JNNSM. To achieve grid par-

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ity and to achieve the 100 GW target, international competition is required. EQ : Will India ever see Polysilicon Manufacturing …What are the challenges in Poly & Wafers Manufacturing in India and how can we overcome them MKU: Silicon is available in a limited quantity in India. The major production country is China which is producing 67% of the total silicon produced. It is a capital, power and time intensive procedure and needs international technology and government support. In our opinion, it is not prudent to produce silicon in India. EQ : India has over 3GW Installed Solar Assets…Do we see a retrofit market evolving? MKU: Within a short span of time the country has over 3 GW of installed solar capacity. The solar plant is having a life of 25 years with one replacement of some component of the inverter. Most of the major equipment used in the plant comes with manufacturer warranty. It’s a very restricted retrofit market. EQ : What are the future technology landscape for Inverters and BOS MKU: Future trend for inverters is to have MV class inverters directly converting DC to 11/33 kV, eliminating the need of additional transformers, thus it may resulting reducing reduced the BOS. Incorporation of peripheral devices like DCDB, ACDB, auxiliary supply system, etc. to be incorporated within the inverter to reduce the footprint and cable like requirements. In BOS, the composite plastics will be able replace steel in structures and foundations. All suchIn BOS technological, other technological advancements like change of structure/foundation material etc, compactness of inverter and less cable requirement through continuous research and developments will may support the solar industry to come up with efficient technologies innovations leads forto faster deployment of solar power plants in the country.

EQ : The NCEF money now being available for Renewable Projects…. What’s your Opinion MKU: Recently NCEF’s has broaden scope and included financing and promoting clean environment initiatives and funding research towards that end. If Solar Sector qualifies under the definition of clean environment initiatives NCEF should disburse the money to solar developrs by means of Soft Loans through the banks with lower interest rates and considering the solar sector as priority sector. Also the concept of mandatory financing of RE projects with the yearly target given to various banks shall be backed by quarterly audits of these disbursements. EQ : RoofTop Solar Market has been small in last 6 years … what do you think of the rooftop market installations in next 2-3 years. MKU: Rooftop market has not picked up in India from last 6 years mainly because of lack of buying power and knowledge of pro-consumer model. That’s the reason that majority rooftop project may be seen on the industrial roofs not on the residential rooftops. However, we are certain this will be future market in India. To scale up the implementation; self-sustaining business model is essential along with government support on necessary policy revisions. EQ : What do you think about decline of 45% on Oil prices and increasing the cost of tradition power & its impact on clean energy? MKU: The story should not be how falling oil prices will impact the shift to clean energy, it should be how the shift to clean energy is impacting the oil price.” Ultimately, the impact of lower oil prices will depend on whether they are sustained. Considering the impact on Indian Market, we couldn’t find it hampering the growth of Clean Energy in India. This traditional conventional energy is still priced at the rates which are been given tough competition by Clean Energy Sources of energy.

June-July 2015

SOLAR ROOFTOP & OFF GRID

On-Grid Case Study

Anand Chemicals - S Sriram Murali, SolarTown Energy India Pvt Ltd

Client Requirement • As Eco-Friendly measure to reduce the conventional power costs there-by reducing the Carbon Content and DG consumption they required Solar as an option to generate their own power and utilize it for their day to day energy consumption. • To establish Tax benefit through accelerated depreciation • To utilize the completely available rooftop space by generating own electricity

Solution • Installed & commissioned 10kW On-grid solar plant utilizing the entire roof top space • Mounted 40 Nos of 250W PV array of (make-Renesola - World’s top tier manufacturers) generating 14500 Units/day • Utilizing the maximum savings of conventional power costs and reaping the best outcomes • Permanent one-stop power solution for the next 45 Years

Our Approach • Identifying the Customer’s load demand • Utilizing the maximum available roof top space

June-July 2015

Designed a Solar Plant System @

50%

on the demand load

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SOLAR ROOFTOP & OFF GRID

Capacity of the Plant- 10 Effective Investment (A)

1,050,000 INR

Accelerated Depreciation Amount (B)

8,40,000 INR

Net Amount (C)= (A)-(B)

2,10,000 INR

Average solar power generated per kW/Yr 1450 Units EB Savings Per Year 1,23,000 INR 5 Years Pay Back Period 25 Life time of the plant Years Average Cost of Energy Unit for 25 Years 3.00 INR / www.EQMagLive.com

Savings in : CO2 – 26.7 Kgs

H2O – 8400 liters

June-July 2015

INTERVIEW

Interview with Sanjay Aggarwal

EQ : What’s the history of your group and what made your group foray into solar S.A : Fortum is a Finnish Utility company focusing on the Nordic and Baltic countries, Poland and Russia and also Europe and India. Fortum always focuses on sustainable solutions that fulfil the needs for low emissions, resource-efficiency and energy security, and deliver excellent value to every stakeholder that matters to the company. Hence, solar becomes the immediate attention for the company. However, we wanted to begin our solar operations from India due to the potential the nation offers owing to its geographical location and high energy requirements. In June 2013, Fortum acquired a 5 MW solar power plant in of Rajasthan with an ambition is to build a small photovoltaic solar portfolio to gain experience in different solar technologies and in operating in the Indian power market. Recently, Fortum has expanded its solar portfolio in India with a 10 MW solar plant in Madhya Pradesh. Incidentally, the project is the first greenfield solar plant from Fortum and also the first one to be commissioned under the Jawaharlal Nehru National Solar Mission (JNNSM) Phase II initiative. EQ : Please tell us the policy under which your project is built and tariff got for your project S.A : India’s solar revolution has been driven by Jawaharlal Nehru National Solar Mission and both our solar projects in India are the part of the mission. And, we follow the tariff that we mention during the bid submission. EQ : What were the challenges in securing the finance for your project and who are the bankers & investors behind it.

Director, g in g a n a M ia Pvt Ltd Fortum Ind 38

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S.A : We are a listed company on the NASDAQ Helsinki stock exchange. In 2014, the annual sales (excluding the divested electricity distribution business) totalled EUR 4.1 billion, and comparable operating profit was EUR 1.1 billion.

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INTERVIEW

Our projects have always been financed by the group. Hence, financing a project was never a problem, but the challenge lies in convincing the board on the potential of the project. EQ : What were the challenges in choosing & securing land, permits, grid interconnection etc.

resource and request govt of India to establish multiple ground based weather stations which will give help to improve accuracy for predicting long term generation of the plant. EQ : Please enlighten us on the selection procedure of equipment & technology (c-si vs. Thin Film, Fixed structures vs. Tracking, String vs. Central Inverter etc…) Whats the ideal solution for India and why.

EQ : Briefly describe the components used and the rationale behind Modules, Inverters, Monitoring System & Scada, Mounting Structures, BOS, Cables, Transformer etc… S.A : Solar Modules: M/s. First Solar – Thin film modules which provides higher generation compare to other technologies.

S.A : India offers a unique opporInverter: Schneider - Techno-Comtunity with exponential need mercial better products compare to for sustainable and clean S.A : We be- other manufactures who are supplyenergy, Solar energy ur o y was lieve Cd-te ing in India. Other components have is still an underWho tractor d : Q n E n o i technology been chosen on the basis of prudent utilised energy h C e EPC onale b modules, industrial practices as well as quality source as the m i t e a h r s. and lecting t / c o m - of the product. country has acM h se d wit vt Ltd. e bined cess to sunlight r e n P s EQ : Please share the plant layout art w i t h for more than as p Energie wi AG , h m u e u & diagram of your plant l J t n r b . a o s a / F th w central 300 days evS.A : dia Rene diary of M ed more as l i l i n v e r ery year. States h n S.A : As a company policy, we do I ta bs d Juwi h is a su i has ins India an out tors of- not share any project documents. like Rajasthan, whic any. Juw ojects in carrying fers the Gujarat, Madr o Germ MW of p ted after ction pr ideal so- EQ : What’s your view on the Inhya Pradesh and or ele tlis r d s 150 o l n h a e s v rn lution in dian Policy Framework and one many others can been iled inte Fortum’s edeta as per onduct r the Indian piece of advise you would like to be one of the major give to the government and regucess ode of c ent. environment. investment destinac m lators quire tions due to its natural While Cd-te techinclination toward solar ennology has multiple S.A : We believe JNNSM is a great ergy. proven advantages over other initiative by the government to equip technology and also provide higher the nation with a strong solar energy Hence, we just wanted to engeneration in the hot climate, the portfolio. The policy is quite stringent sure that we have the right combination allows for better control and has been designed to achieve land, with geographical and social inclination towards it. We have on carbon footprint, water use and a constructive view in the solar segment. recently completed our first green- energy payback time. field project in Madhya Pradesh and we are thankful to MNRE, SECI and EQ : Please share the state authorities of Madhya Pradesh Bhilwara Plant Kapeli Plant planned and actual for quick turnaround on regulatory (Rajasthan) (Madhya Pradesh) generation, perforapprovals and grid connection promance ratio, availCumulative Generation: Cumulative cess as well as for their guidance Generation: 29020 4957 MWH ability of plant & grid. and support MWH Kindly provide graphs EQ : Briefly describe the chalReduction of Expected reduction of lenges of working with available CO2 emission in 2014: CO2 emission: approx. S.A : Fortum has remet data from NASA and others approx. 26000 metric 18000 metric tonnes of CO2 corded a cumulative regarding irradiation, GHI etc. tonnes of CO2 every year power generation of S.A : Currently multiple data sources are available in market for met data & for others parameters regarding irradiation such as NASA, Meteonorm, 3 Tier, etc. however there is always a challenge to shortlist best suited data source which can give near actual generation for the project. It’s always better to carry out yield analysis from more than one

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over 29000 MWH at its Bhilwara plant and approximately 5000 MWH at the Kapeli plant. In 2014, the Bhilwara plant has reduced over 26,000 metric tonnes of CO2 emission and the Kapeli plant is expected to offset over 18, 000 metric tonnes

Reduction CO2 emission in Q1, 2015: approx. 2000 metric tonnes of CO2

Reduction CO2 emission in Q1, 2015: over 4000 metric tonnes of CO2

(Data Relevance: Jan 1, 2015 - 31st March 2015)

of CO2 emissions every year. During the first quarter in 2015, the company has offset over 6000 metric tonnes of CO2 from both its solar plants.

June-July 2015

INTERVIEW

However, we feel that the disparity in solar potential across states is a drawback which makes the growth potential restricted for the country. We believe the land acquisition policy should be uniform in order to initiate more greenfield projects across the nation. EQ : What’s an ideal financial model for the Solar PV Project in India to optimize the IRR

We have seen great co-ordination between different departments of Govt. of Madhya Pradesh as well as with Solar Energy Corporation of India which continuously supported our project during implementation phase.

S.A : As a company policy, we do not share any project documents.

EQ : What are the future plans in India and other countries?

EQ : Kindly describe your Top 5 (worthwhile discussing) experiences with building your Solar PV plant in India

S.A : Fortum sees India as a market with potential owing to its geographical location and high energy requirements. Our aim in India is to evaluate investment opportunities contributing to the development of India’s energy infrastructure. We believe that Fortum has a lot to offer to the rapidly developing Indian energy market based on our

S.A : Land acquisition is always a major hurdle to complete project on time, however Fortum has been able to complete the acquisition process within project timeline and has become

1st to commission the project under JNNSM –Phase-2, Batch -1, scheme, 4 months in advance from schedule commissioning date as per PPA.

June-July 2015

long track record in sustainable power production and our energy market competence. On the global front, Fortum has an ongoing investment plan to replace retiring capacity and to build new environmentally-benign power generation. In our investments, we pursue a financially profitable balance that provides the possibility to increase capacity and reduce emissions. In 2014, about 64% of Fortum’s electricity production was CO2-free globally and 94% in the EU. EQ : Please provide some high-resolution pictures of your plant and certificate of completion etc… S.A : As a company policy, we do not share any company documents. However, please find attached the 10 MW solar plant photographs.

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solar inverters

MULTILEVEL INVERTER WITH SMART CONTROL TECHNIQUE FOR SOLAR PV-FUEL CELL HYBRID SYSTEM APPLICATIONS

- Dr Umashankar S, Aryadip Sen, Abhishek Soni, Bhimanapati Lakshmi Anisha, Bandaru Jayasree School of Electrical Engineering, VIT University, Vellore, Tamil Nadu

INTRODUCTION

ultilevel inverters have been adopted from the past years, as they made the easy energy conversion. If the output voltage of the inverter is more than two levels then it is termed as multilevel inverter. As the levels increases there will be reduction in the output current harmonic distortion, unnecessary energy loss and improvement in the system efficiency as well as reliability. Many topologies are introduced in the field of multilevel inverters due to wide research and its applications in different fields. This article illustrates the comparison of two different topologies which are industry oriented i.e. Neutral Point Piloted (NPP) and Active Neutral Point Piloted (ANPC). It reveals about the controlling techniques employed in these systems. Alternate Phase Opposition Disposition (APOD) and Phase shifting PWM prominent techniques are used. It gives a brief idea of the neutral point potential balancing technique, loss calculation and output current distortion.

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BLOCK DIAGRAM

DC SOURCE

3-LEVEL NPP / ACTIVE NPC INVERTER

INDUCTION DRIVE LOAD

CONTROLLING STRATEGY

PWM GENERATOR

Fig 1: Block diagram of Inverter with Controlling

CONTROLLING TECHNIQUES : I) PHASE SHIFTING PWM METHOD Phase shifting PWM technique is generally used for the pulse generation. The basic principle of this technique is to compare a line frequency sinusoidal reference signal with a high frequency two phase shifted triangular carrier wave form in order to get the required pulses for the switches. For every time instant when the carrier wave form is greater than reference wave form the pulse is set (1) otherwise reset (0).

Fig 2 : Waveform of Phase shifting PWM Method

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solar inverters

II) ALTERNATE PHASE OPPOSITION AND DISPOSITION: APOD technique uses four high frequency triangular carrier signals which are compared with a single line frequency sinusoidal reference signal. By applying various arithmetic operations required pulses are achieved and are applied to the system.

LOSS COLLECTION Losses of the inverters significantly influence the increase in temperature of the overall system. Thermal network and electrical network is analogous to each other, where heat dissipation is analogous to current, temperature difference is analogous to voltage and thermal resistance. The junction temperature also affects switching losses. Hence, more the switches, lesser will be voltage stress across them.

Fig 3 : Waveform of Alternate POD technique

Graphs showing the comparison of Total, Conduction and switching losses of NPP and Active NPC at different frequencies

Fig 4 : i) NPP Losses chart ii) Active NPC Losses chart

Graphs showing the comparison of Temperature variation of NPP and Active NPC at different frequencies :-

Fig 5 : shows the Temperature graph.

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Graphs showing the comparison of Temperature variation of NPP and Active NPC at different frequencies

solar inverters

Fig 6 : shows the output power graph

Graphs showing the comparison of THD variation of NPP and Active NPC at different frequencies Fig 7 : shows the THD graph

Neutral Point Balancing Control Strategies : I) DC Voltage injection Method DCMLI has inherent problem of unbalanced voltages across dc link capacitors due to load unbalancing, non ideal properties of dc link capacitor. Unbalanced dc link voltage results in oscillations in the system and dc bus capacitance. It also distorts the output voltage. In order to avail these, the dc link capacitor must be confined to half of the total dc link voltage. This gives balancing of the capacitor.

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Comparison table of NPP and Active NPC Sl. No. NPP Active NPC 1 3-level output voltage 3-level output voltage Equal distribution of 2 Unequal distribution of losses due to the more losses at the switches switching states. Switching losses and 3 Switching losses and THD are less THD are more Due to the new 4 As this is in usage from controlling strategies the past years the size applied to this the size and volume of the and volume is less inverter is more 5 6

Used for medium speed drives at low voltage Applications of these in the industry are more compared to ANPC

Used for high speed drives at high voltages Usage in the industry is less as it is still in research for its better result but its applications are for high performance

Cost of this inverter is less compared to ANPC

Due to the new controlling techniques cost of this inverter is more

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solar inverters

RESULTS Results of NPP and Active NPC

Fig 8 : Closed Loop THD result of Active NPC

Fig 9 : Closed loop THD result of NPP

CONCLUSION The comparison evaluation of multilevel inverters in different aspects and analyzing different parameters of the both NPP and Active NPC multilevel inverters made easy to evaluate the various technical aspects of these inverters. It also has shown the various controlling aspects for capacitor balancing and also for PWM pulse generation. This will be one of the promising topology for hybrid pv-fuel cell applications and reduce considerably the harmonic without additional filters.

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June-July 2015

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SOLAR ROOFTOP & OFF GRID

Shivam Photovoltaics Pvt Ltd has installed 20KW Roof Top Solar Power Plant at COSMOS INTERNATIONAL School Shivam is a solar Power Plant integrator since 2 years in Ahmedabad. We had started work for solar power plant of 20KW at Cosmos International School, Opp.YMCA Club, SG Road, Ahmedabad on 29/04/2015. We had a time frame for the installation and procurement of the system. The school was going to start on 10th May and before that we have to handover the plant.

The solar Power Plant was built using Shivam-250Wp Poly Crystalline PV Modules.Poly crystalline Modules have higher efficiency (15.58%) in comparison with other modules. Modules are made with A Grade Cells (17.6%) and EVA (Lucent).So it gives maximum efficiency. Inverter is a heart of any solar power plant. In Gujarat region temperature is a major problem because efficiency will decrease when temperature increase. KACO a German Inverter manufacturer having high temperature control of around +60 degree C. We used Powerdor20TL3 for our plant. For Ahmedabad 22 degree is a standard angle for structure and we have mounted all the panels on 22 degree

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angle. We have also thought about cleaning of panels and for that we have mounted all the panels in a lower level so daily cleaning is very easy. We used 80 micron Hot Dipped GI Structure for the plant to resist against corrosion. We have mounted all the panels within a day. Total 80 modules of 250Wp are to be used for the system with series parallel connections and we have taken care of DC Voltage drop also by using DC Cables. With this we have also used DC Protection by Fuse and SPD.SPD makes a protection against leakage current and DC Fuse will take care against overvoltage from Solar Panels. Lighting a major part of solar plant because any

lighting will destroy solar panels internally. So we have also take care about it and we mounted a spike Pole for surge protection. Our AJB & ACDB is an IP65/ IP66 protected. ACDB with SPD and Energy Meter and MCCB as per Indian Electrical Standards. We used three chemical earthing to protect from surge, Inverter and panels leakage current. Within a week we successfully completed all the system. On 6th of June 2015 we have successfully commissioned Inverter part also. On Second day itself we got 105 units a day from 20KW Plant and that is very satisfactory as Ahmedabad has max. 5.6 units radiation and we got around 5.2 units in monsoon time.

June-July 2015

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INTERVIEW

INTERVIEW WITH SUDERSHAN GUPTA visor, Board Ad oup Jakson Gr

EQ : Government took a bold decision of not imposing Anti-Dumping Duties on Solar Modules/Cells Imports….What are its effects…Please express your views

EQ : What is your view on the performance of Hon’ble PM Shri Narender Modi, Hon’ble Minister Shri Piyush Goyal & New BJP Government in the last 1 year SG : The performance of Hon’ble PM Shri Narender Modi, Hon’ble Minister Piyush Goyal and New BJP Government in past 1 year has been better than average but falls short of expectations which were raised to sky high levels during the run up to the elections. The Government has carried out a number of structural reforms in the last 1 year which augur well for the economic recovery of India in the coming years. The fiscal deficit is under control, inflation has come down, interest rates are on their way down and States have greater fiscal powers. However a lot more needs to be done, like GST and Land reforms. The 46

June-July 2015

SG : Non imposition of Anti-dumping duties on import of Solar Modules and Cells was a right move. Anti-dumping duties, if imposed would have derailed the ambitious Solar programme announced by the Government subsequently. While there is a need to promote manufacturing in India, it cannot be at the cost of development. India today does not have manufacturing capacity to meet the demand for Solar cells and imposing Antidumping duty would have created an artificial scarcity leading to higher cost of Solar energy for the benefit of a few. The solution announced by the Government is ideal in the current circumstances. It has assured the Solar cell manufacturers of enough tenders with local content requirement of cells to ensure that the production lines of cell manufacturers in India remain busy, while continuing with duty free import of cheaper cells and modules to ensure that the cost of solar energy comes down making it more acceptable to DISCOMS and Consumers, which is necessary to meet the new ambitious Solar energy targets.

BJP Government needs to replace the policy of confrontation by the policy of consultation to get crucial bills through the Rajya Sabha. Further the Government needs to keep a tight lid on rabble rousers within its own Party, who divert attention from the job of governance by their provocative actions. EQ : Including Renewable Projects under Priority Sector Lending by RBI…Kindly comment and express your views

SG : The recent guidelines issued by RBI granting priority sector status to renewable energy, thereby de-clubbing it from the Power sector is a very welcome and long pending move. As we all know the conventional power sector has been plagued by a number of issues, like land issues, environmental clearances, coal linkages. As a result the projects are stalled and at the best delayed resulting in cost over runs and stricken assets leading to NPA’s. By clubbing renewables with

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INTERVIEW

the conventional power sector we were painting the renewables with the same brush. Renewable energy sector, barring a few aberrations like REC / RPO based projects has been relatively healthy. This move by RBI allows for funding for renewable energy projects without the overhang of conventional power sector. EQ : Do you think the target of 100GW Solar by 2022 is achievable….What are the challenges and roadblocks SG : The target of 100GW Solar by 2022, a five fold increase over the earlier target is highly ambitious and has major challenge, which need pro-active action to make this dream a reality. Renewable energy projects, particularly wind and solar require all the investment up front with very little O&M costs. The investments required for putting up renewable energy plants per unit of energy generated are much higher as compared to thermal power plants. As such long duration and low cost funding is essential for growth of this sector. This will also bring the cost of energy from these sources to grid parity much faster. Without long duration and low cost funding the 2022 targets will only remain a wish. The Government of India needs to look at ways and means to reduce cost of funds for renewable projects. One of the biggest cost elements of foreign funding is the hedging costs between USD and INR. While the Government is seized of the matter and has assured the Developers that it will try to find ways and mean to address this matter, no concrete solution has emerges till now. If the cost of hedging reduces even by 50%, the solar power will overnight gain grid parity vis-à-vis new thermal power plants. DISCOMS will then no longer be reluctant to buy renewable power thereby giving a quantum boost to this sector. Further land based Solar power plants require large areas of land. Without land reforms facilitating acquisition of large tracts of land, 100GW Solar target by 2022 will remain a dream. The roof top sector need active promotion by the State Governments and DISCOMS by way of facilitating hassle free implementation of net metering and providing remunerative tariffs. Last but not the least major investments are required to strengthen the transmission and distribution system to be able to handle such large quantities of infirm power. Even today some of the Solar power plants in Rajasthan and Uttar Pradesh have started facing the problems of High Voltage of over

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EQ : Do you foresee the Anti-Dumping might come back anytime in future SG : Once India has enough capacity to produce Solar cells at competitive prices to meet its demand, Anti-dumping duty can certainly come back. 10% causing the Plants to trip. EQ : Is the Government taking right steps in achieving the targets? SG : The Government has initiated some steps in the direction of addressing some of the bottlenecks in meeting the 2022 target, but a lot more needs to be done. It has asked various PSU’s to adopt ambitious Solar targets. NTPC alone has announced major plans and have issued RfP’s for IPP’s and EPC’s for around 2000MW in last three months with more to follow. Both PFC and NTPC have announced that they are working on Solar IPP Projects with dollar denominated payments for Solar energy, thereby eliminating the hedging costs for repayment of foreign loans. Solar Energy Corporation is forming JV’s with State Government Agencies for creating large Solar Parks, with the land and transmission infrastructure being provided by the Government Agencies. An amendment raising the Solar RPO target multi-fold is also proposed to the Indian Electricity Act. However the dollar denominated payment plans needs to reach fruition. Except for a couple of Joint Ventures between SEC and State Agencies, others are still in the pipeline. The issue of handling large quantum of infirm power by transmission infrastructure is yet to be addressed. Also the DISCOMs are still dragging their feet with regards to hassle free implementation of net metering. The amendments to the Indian Electricity Act after being passed by the Parliament will need to be ratified by the State Assembles. EQ : Government of India is trying to further lower the lost of Solar Power by having a dollar denominated PPA and thus avoiding the forex fluctuation risk and reduce the solar power costs, hedging costs etc…Please comment on the same

SG : One of the biggest cost elements of foreign funding is the hedging costs between USD and INR. While the Government is seized of the matter and has assured the Developers that it will try to find ways and mean to address this matter, no concrete solution has emerges till now. If the cost of hedging reduces even by 50%, the solar power will overnight gain grid parity vis-à-vis new thermal power plants. DISCOMS will then no longer be reluctant to buy renewable power thereby giving a quantum boost to this sector. EQ : Please comment on the recent Tenders such as AP, Telangana, MP, NTPC SG : Recent tenders such as by AP, UP, Telangana, MP, NTPC are a big bang beginning to a big bang target. In the tenders for which price bids have been opened till now the rates offered are lower than in the past and the trend is expected to continue. EQ : CERC Decision of introducing vintage multipliers and thus saving the REC Mechanism based projects…Do you think it will be helpful for REC projects SG : CERC decision of introducing vintage multipliers is a desperate attempt to save the REC based projects. Whether it will succeed despite the Supreme Court’s ruling in this regard only time will tell. Even today the incremental availability of Solar REC’s is greater than incremental purchase, thereby increasing the unsold REC’s in the system, month after month. EQ : Is the government planning & talking big but the action is yet to be seen ? What are the expectations in the next 2-4 years SG : The Government is certainly planning and talking big. The only big action till date matching the talk has come from NTPC. A lot will depend on debottling the various impediments to the massive development of Solar power. EQ : Comment on the recent schemes such as 25 Solar Parks, Solar on Canals, RE-Invest, Increasing the Clean Energy Cess SG : All the actions taken by the Government are steps in the right direction and are welcome. However the talks need to get converted to action.

June-July 2015

solar energy

Need Of Good Quality Module In INDIA & How Sova Power Working On It -Amal Nayak, Head of Sales and Marketing Sova Power Ltd

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Solar Module efficiency is the ratio of the electrical output of a solar module to the incident energy in the form of sunlight. Commercially produced PV Modules are 14-15% efficient. Sova Power’s extensive research and precise engineering on increased Light Trapping enabling high power output from minimum surface area has ensured higher Efficiency.

June-July 2015

he continuous focus on reports on performance parameters from the installed modules at various sites has enabled formation of a closed loop feedback system. This has resulted in Reduced Cell to Module Loss and superior performance under Sun. Focus on high efficiency c-Si technologies to reach “ differentiated economies-of-scale” parity with China has already been started. Sova Power is well ahead compared to it’s peers by maintaining a well balanced “Cost Vs Superior Performance “Ratio. Sova Power performs intense analysis & Engineering on the product by exquisitely choosing the right BOM in-turn exactly supplying to the demand and the requirement. The main causes for module degradation are PID effect due to high humidity, the hot spot occurs due to high temperature as well as shading effect, frame corrosion occurs due to saline environment and so on. After a long R&D initiative and using of high quality raw materials like ARC Glass, HLT Encapsulant & Cells, Sova Power has overcome most of the aforesaid application problems associated with SPV modules. Comprehensive study to completely eradicate the PID effect of the modules in the field from the Manufacturing Level ensures no harm in the plant’s output and steady maintain of plant’s CUF.. Sova Power takes up a Design Failure Mode and Effect Analysis (FMEA) to any change in module materials that could impact 25 years performance and reliability. Based on this analysis, the testing protocol to be used for qualification of the material is developed. Additionally, tests and procedures for quality assurance, in process manufacturing control, and ongoing reliability monitoring for the particular change are developed as well. Our approach is to test to failure, and understand and

quantify the risk and probability of failure. One of the most challenging tasks is to define acceleration factors for various failures observed and predict performance degradation over such a long period of time in a variety of environments and types of systems in which the modules will be installed. Certain measures undertaken by SOVA Power include High Reliability tests to ensure Modules to withstand high Temperature , Humidity, Pressure , Wind Loads, Stringent ELTests pre-lam and post lam to ensure Micro Free Cracks modules manufactured in our facility. Stringent Hot Spot Tests to Ensure that Modules are free from Hot-Spots, Mechanical Load Test to ensure modules exceedingly perform higher than 5400 Pa, Stringent UV Exposure Tests to ensure high Module performance and lowest UV Degradation after test compared to Peers. Controlling of manufacturing variations is another step which has been a key to economies of scale and efficiencies. Maintaining little manufacturing variation throughout all lines by maintaining very similar process principles across all the lines in the Same Plant ensures this step. Similar steps like allocation of one particular BOM on one particular machine and no frequent Changes of Process Control like Temperature, Time and Humidity, constant Data Capturing and thorough Monitoring for further analysis and study are also followed rigorously. Equipment Process Control by having constant maintenance on machines ensuring least minimal Breakdown and maintaining a proper Streamline flow of Supply chain from Purchase to Stores to Production to Quality to Dispatch and ensures a hassle free Process environment

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solar energy

Source : Respective data sheet in website The Government is now caught in a situation where it needs to strike the right balance between producers’ concern over cheap imports and power capacity addition to support economic growth. There needs to be clarity whether the goal of India’s national solar policy is to boost power generation or to build a solid manufacturing base. While we focus on aggressively boosting installations and year-over-year growth, there will be a robust, long-term market for all. The important point to stress is not only the upfront capital cost of a solar installation but the long term output in line with committed degradation. The solar industry in India is only 4 years old and we are yet to see the year on year performance under varying climatic condition. Very little organized data is available for analysis at this point of time. While it is reasonable to believe that we will get support from suppliers of imported modules it is the domestic producers who will sustain and support this growth in the long run. Indian manufacturers can very well compete under the open category and also maintain cost supremacy as the economies of scale gets boosted. If we draw a parallel between the Solar Power, Thermal Power and Telecom sector the distinction becomes clear. About 7-8 years back BHEL was the only major Indian manufacturers of power Boilers with highest capacity being 500

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MW for a single unit. Chinese manufacturers invaded the market with 600 MW sub-critical & 800 MW super critical drum less boilers. This put a severe pressure on Indian manufacturers and they demanded secured orders from Government for establishing the super-critical technology which would have resulted in drastic reduction of cost. However the progress has not been satisfactory till date though the Thermal sector is caught into other infrastructural bottlenecks which have hampered its growth. In Telecom sector we have never focussed on domestic manufacturing as there is no single established player in the active component space. One key differentiator in Telecom sector has of course been the technology where we have not been able to progress much. Even today Nokia, Erickson, etc., clearly enjoys the leading space. The domestic Solar industry does not have the scale and nor has the access to a fully developed domestic supply chain, which will enable them to compete against global capacity. For creating a sustainable local production industry, the demand in India has to mature and be free from subsidies, The domestic solar PV manufacturing industry is downstream in the PV value chain, with 2.7 GW of module and 1.4 GW of cell production capacities now. The PV module manufacturing only creates one-fifth

of all the jobs in the solar value chain. However in recent times some major investment or deal relating to technology tie-up or acquisition of solar tech firms by Indian companies to move up the value chain have been observed. In most of the developed countries favourable policies have actually helped increase solar power generation. Manufacturers in those countries grew due to their unique technology and their ability to compete globally. Also, in Western countries, solar or wind projects are encouraged for environmental reasons. But in India they are needed as an energy source to alleviate power shortage issues. In this scenario, the government has to decide what will be its immediate priority. Reservation of capacity under DCR category is welcome. However, competing in the Open category will lead to long term growth of this sector, Domestic manufacturing needs to be embedded in the country’s long term strategy, but not at the cost of pulling down the market growth. The government could look at removing all hurdles and import duties on any raw material or component that is used by domestic manufacturers. Also, India is at present witnessing a new entrepreneurial wave and tech start-ups embarking on innovative ventures which will also act as a new avenue for the sector.

June-July 2015

INTERVIEW

Is BJP Led GOI Serious of Make in India ? In the recently approved 2000MW Solar Projects with VGF under JNNSM BatchIII of Phase II by SECI…Only 250MW will be developed with Domestic Made Indian Cells & Modules…What are your views and comments

EQ : Are the Indian Manufacturers unaffected by the same and feel they can compete with imported solar modules under the open category ? IS : The union government, chaired by Hon’ble Prime Minister Shri. Narendra Modi, gave its’ approval for stepping up India’s solar power capacity target under JNNSM by five times, reaching 100 GW by 2022. So, although it will take time to evaluate the impact of the announcement of 250 MW that will be developed with domestic made Indian cells & modules for the 2 GW of solar projects under VGF, but as of now it can be said that as a leading Tier 1 module manufacturer of India having highest accreditation globally, we are very much confident to compete with imported solar modules under the open category. The latest technology used at our state of the art manufacturing plant is followed globally & the reliability & bankability of our modules, used in several global projects speaks of its highest standard. EQ : As a manufacturer…Do you think it is bad for the Indian manufacturing ?

IS : No, I think it is realistic, as per the current definition of domestic content requirement (DCR) with domestic cells only, you will be able to manage only that much as the DCR cell capacity is limited to about 400-500MW/ year. But there is a large capacity of module manufacturing which can be leveraged without the “domestic cells” content. This essentially means a separate allocation category for domestic module will be created without domestic cells. And this can really boost up the domestic module manufacturing and “Make in India” program of the union government. EQ : Realistically…how much market share Indian manufacturers will be able to get in the open category ? IS : I think that there are a very few globally competitive module manufacturers in India. Vikram Solar has a unique advantage in this segment. We are already competing with other Tier 1 manufacturers and winning orders in the open category. But realistically, I have to say that it will be difficult for other Indian manufacturers to emulate this.

President & Officer,Vikr Chief Technical am Solar P vt. Ltd. 50

June-July 2015

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SOLAR ROOFTOP & OFF GRID

DJB commissions a 50 KW Solar Power Plant at its Head Quarter, Varunalaya Office Complex »»

»» »»

»»

In a first, DJB commissions a 50 KW Solar Power Plant at its Head Quarter, Varunalaya Office Complex Solar Power Plant generating 6600 units of energy every month DJB reduces its O & M costs by producing electricity from environmental friendly new and renewable resources like Solar Energy Innovative use of space by installation of Solar Panels on roof of UGR.

is a pio The Solar Power Plant s been neer project, which ha e in the tim t firs carried out for the tone e-s mil a is It . ard Delhi Jal Bo will ich wh in the histor y of DJB y icit ctr ele ce enable DJB to produ tal ins e Th y. erg from solar en Power lar So the of st co lation Plant is -

53.5AC5S L

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In order to cut down on its O & M costs and to focus on harnessing the potential of solar energy, DJB has commissioned a 50 KW Solar PV Power Plant at its Varunalaya Office Complex. At present, the Solar Power Plant is generating 6600 units of electricity per month and is leading to an immediate saving of-

55,000

per month

Met meter ing als o being done to evacuate additional power in the grid especially on we eken ds an d holidays when power demand of DJ B is low.

To be able to save on land space which is becoming a critical issue in the city, DJB has made pioneering use of space by installing the solar panels on the roof of the Underground Reservoir. The project has been implemented by DSIIDC as a deposit work of DJB. With the installation of this Solar Energy Power Plant, DJB will be able to generate reliable and clean energy. Solar Energy is essentially an energy which balances environmental protection with energy demands. “DJB has made innovative use of space by installing the solar panels on the rooftop of the Underground Reservoir. DJB is striving hard to look at nonconventional sources of energy which will reduce DJB’s power bill, the biggest Expenditure for the utility and will also help in environment conservation.” -Sh. S.S.Yadav, CEO, Delhi Jal Board There are innumerable benefits of using solar energy; the foremost benefit is that the creation of solar energy requires little maintenance. Once the solar panels have been installed and are working at Maximum efficiency there is only a small amount of maintenance required each year to ensure that the solar Panels are in working order.

June-July 2015

solar thermal Why Manufacturing Industry should stop

Burning fossil fuels for Low temperature applications during day time

-Ramkumar R S - Head of Marketing , Aspiration Energy Pvt Ltd.

Roof Top Solar thermal systems are now available for industrial applications for process temperatures in the range of 60 to 120 Deg C. These systems are economical and viable without government subsidy.

52Â

ets understand the technology and economics of this. Wheels India (630 KW), Sono Koyo Steerings (240 KW) and Harita Seating (360 KW) are some of the proud pioneers who have installed Solar thermal collectors on their idle factory roof tops and used the heat energy to run their heating application during day time.

June-July 2015

The Advantage of Solar thermal systems are -

1. 2. 3.

Solar thermal collectors generate and deliver 4 Times more energy per SQ metre of roof top space occupied compared to Solar PV collectors that generate electricity. For a typical application that requires 500 KW capacity you only need 1600-1700 SQ Metres of roof top space.

The thermal energy is directly transferred from the roof top to the process, through a closed loop system consisting of pumps, heat transfer medium (usually high pressure water at 4 bar) and 500 to 1000 metres of piping circuits and a heat exchanger which is directly integrated in to the manufacturing process. This is more efficient than delivering hot water in an open loop system.

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A PLC based control system automates the process of bypassing the solar circuit when the process temperature high threshold is achieved. The same system will also control the existing fuel / boiler circuit so that the same can be switched on / off depending on need. Thus this hybrid implementation allows customers to use Solar thermal energy when sun light is available and use the existing fuel based system when sunlight is not there (night) or when it is inadequate (monsoon days).

The performance guarantee is typically provided by the project developer (such as Aspiration Energy Pvt Ltd â&#x20AC;&#x201C; AEPL) who is engineering and executing the project.

The economics of the system on cost per unit (KWH) basis can be understood from this table below. The economics remains same irrespective of the KW capacity required for the application. So the calculation has been shown on a per KW installed basis.

1 KWH of thermal energy is equivalent to 860 Kilo calories. Based on the usable calorific value of various fossil fuels such as Diesel, Propane, LPG etc, when they are burnt in boilers for heating applications, the cost of thermal energy from these GHG (Green house Gas) and carbon intensive sources will be in the range of Rs 5.0 to Rs 7.5. Whereas the cost of renewable green energy is only Rs 3.0 without government subsidy. Or we can also say that the project can be paid back with interest within 5 years, and you can enjoy free energy (except negligible expenses in cleaning and maintenance) from 6 to 20 years.

All money values in Rs INR Cost per KW (Project Materials) Application Reference KW Capacity Material Cost CST at 2% Erection and Commissioning (10%) Service Tax @ 14%

40,000 ANY 1 40,000 800 4,000 560

Total Project Cost

45,360

Taxes Reimbursed

1,360

80% ACCL. DEPCN-IT Benefit

12,156

Net Investment

31,844

5 Year EMI for Loan @ 13%

725

Annual EMI Paid

8,694

AEPL Performance Guarantee KWH per KW installed per calendar year

1,500

Guaranteed Energy Delivery KWH per calendar year.

1,500

Guaranteed Cost per Unit 1- 5 Years

5.80

Cost per Unit 6th Year to 20 Years

0.00

Equivalent Cost per unit for 20 years asset life

3.00

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solar thermal

The cost of fossil fuels double every 6-7 years due to exchange rate escalation, Rupee inflation and international prices. Whereas you can freeze the energy cost for the next 20 years by going for this system. If you do not have accelerated depreciation benefit, Project developers such as AEPL also offer OPEX models, where the asset is owned by AEPL or Third Party Investor and you pay monthly bill based on actual energy delivered. Prices quoted are in the range of Rs 5.0 to Rs 6.0 per KWH guaranteed for 10 to 20 years. According to a KPMG report in 2012, the manufacturing industry burns 16 million tons of oil per year for low temperature industrial heating applications. Even if 30% of this is replaced with Solar thermal energy, the requirement will be 70 million SQ metres of Thermal Collector area. (Equivalent to 20,000 MW). This could replace 4.8 millions tons of oil per year, saving the country USD 3.5 Billion per year. The industry and the government should come together and ensure that burning of fossil fuels for low temperature applications is stopped during day times, by replacing with Solar thermal energy.

June-July 2015

53Â

BALANCE OF SYSTEM

Combiner Boxes for Solar PV power plants - Mr. Rajesh Kulkarni and Mr. Bernd Hiltenkamp, Hensel Electric

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While many others are busy in showing how combiner boxes made cheaper, Hensel continues to be the brand for reliability & optimum safety, thanks to its technical competence & constant communication with the users. Especially when productions costs for a solar power plant are reducing and development scales are increasing, its important to know why Hensel is still the first choice when it comes to bankable projects.

54Â

June-July 2015

enerally, combiner boxes are often the last items for any EPC contractor engaged in executing a solar PV project. Often the buyers face challenges with regards to time frames of the projects and in the event they have to fast track the decisions of choosing the right PV modules, inverters and products like these combiner boxes. For a developer or an EPC buyer, combiner boxes are the least priority items since invertersand modules are considered to be the most critical and high investment items. However, they also know that these combiner boxes are the carriers of the generated PV power & hence they have to think about failures, fire events which can cause a generation loss.A small time system integrator was once asked why he thinks of buying a good quality product thatâ&#x20AC;&#x2122;s a bit expensive? He promptly answered that his company is so poor that he cannot afford a bad quality product. A low quality or a cheap product can gain temporary benefit but in the long run, the Operations & Maintenance (O&M) will suffer on quality time and money on trouble shooting the temporary failures, inefficiencies of the power & system of the plant & repeated downtimes. Finally half the time is spent on email politics which is why selecting a reliable quality product is of utmost importance. In line with the IEC 60364-7-712 (Standard for grid connected PV power plants for AC and DC systems),

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BALANCE OF SYSTEM

Hensel offers its combiner boxes & customised solutions conforming to IEC 61439–2, which is the relevant standard for the assembly of switchgear and distribution boards. This standard plays a very important role in a PV plant as it determines the safety requirements for electrical equipment for the compliance of protection objectives for people and facilities. During the design stage, Hensel ensures a thorough check on the technical data and jointly work with the users guiding them on the practical requirements as mentioned in the standard. A comprehensive checklist always help Hensel customers to decide on the right system requirement. When it comes to the critical 1000VDC systems, Hensel combiner boxes are tested for 4665 V (as mandated in IEC 61439 Chapter 10) making them the safest insulated enclosures when it comes to fault levels & dielectric strength requirements in PV plants. In fact, Hensel is one of the first companies to have tested the combiner boxes for the new 1500VDC systems with 5730V. Hensel offers combiner boxes based on own enclosure systems. These systems are made of high quality plastic material like polycarbonate.

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According to the standard for PV-applications plastic enclosures must be used to prevent an electrical connection from inside to outside made by metal parts like screws. The materials passed the glow wire test with 960°C and they are resist against UV-radiation and corrosion. To guarantee a long lifespan the boxes have a high IP rating and they are designed for typically local ambient temperatures up to 50°C. In a market,where there are some who reduce the size of the combiner box to optimise on cost, the Hensel product goes through the stringent temperature rise calculations as per IEC 61439 which makes the size of the boxes look bigger than the competition. The product undergoes a routine simulation (temperature rise) test in the state of the art facility available in our Headquarters in Germany and now also in India, 100% subsidiary. This is one of the main reason for Hensel being the preferred choice of many smart buyers.

Hensel products are also now successfully type tested in accordance with IEC 61 439-2 at TÜV Labs which is more of a confirmation of endorsement of the quality tag. The Hensel quality lab in Germany is most modern and competent authority since it is a member of ALPHA, Association for Testing & certification of low voltage equipment. It is also accredited to the VDE standards and the declaration is worldwide valid as the manufacturers declaration of compliance with national and international standards. Inside these labs, Hensel enclosures undergo stringent quality test as per relevant testing standards of IEC with regards to IP protection ( dust&water), temperature rise, mechanical impacts, environmental and climatic test etc. EQ

June-July 2015

QUARTER RESULTS

Trina Solar

“The strongest first quarter in the company’s history” - Saumya Bansal Gupta In line with increasing global demand, our plans to expand our capacity remain on-track for both our domestic and overseas facilities, which will ensure we will be able to meet growing demand for the remainder of the year and beyond.

» Total module shipments were 1,026.2 MW, consisting of 891.7 MW of external shipments and 134.5 MW shipments to the Company’s own downstream solar power projects. This compares with total shipments of 1,098.8 MW in the fourth quarter of 2014 and 558.0 MW in the first quarter of 2014, and the company’s guidance of 840 MW to 870 MW. » Net revenues were $558.1 million, a decrease of 20.8% from the fourth quarter of 2014. » Gross margin was 18.0%, compared with 15.7% in the fourth quarter of 2014. » Operating income was $29.2 million, a decrease of 4.4% from the fourth quarter of 2014. » Net income was $15.7 million, an increase of 12.7% from the fourth quarter of 2014. » Earnings per fully diluted American Depositary Share (“ADS” and each ADS represents 50 of the Company’s ordinary shares) were $0.16, compared with $0.13 in the fourth quarter of 2014.

June-July 2015

“We are pleased to announce the strongest first quarter in our company’s history. We exceeded our own guidance as well as market expectations. We maintained our leading position as one of the largest solar companies in the world, with record shipments of over 1 GW during what is traditionally the weakest quarter of the year. Our gross margin rose quarter-on-quarter from 15.7% to 18% as our cost reduction efforts continue to generate positive results, which more than offset the decline in the average selling price during the quarter. We also recorded a more favorable geographic sales mix alongside stronger sales of our higher valueadded products.” - Mr. Jifan Gao, Chairman & CEO , Trina Solar

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QUARTER RESULTS

Mr. Jifan Gao Also Commented

“In line with increasing global demand, our plans to expand our capacity remain on-track for both our domestic and overseas facilities, which will ensure we will be able to meet growing demand for the remainder of the year and beyond. Our Malaysia facility, along with our recently announced Thailand facility, will serve to not only expand production, but also enhance our competitiveness in the global markets.” “Technologically, I am proud to announce that our Honey Plus multicrystalline silicon module broke another efficiency record during the quarter. Recently, the National Renewable Energy Laboratory in Denver, Colorado, included our name on its Best Research-Cell Efficiencies Chart, making Trina Solar the first Chinese company ever to appear in NREL’s tracking of the world’s most efficient solar technologies.” “Our downstream segment recorded significant progress in the UK and China. We will continue to build our pipeline in China and abroad, and will look to especially capitalize on the tremendous potential for utility scale and distributed generation (“DG”) projects in China going forward.” “We are confident that strong global demand will continue to drive greater growth in the solar industry for the remainder of 2015. Trina Solar started fiscal 2015 on a strong note and we will continue to deliver on our commitment to strengthening our leading position as the world’s largest module supplier, and becoming a world-class project developer and operator.”

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Second Quarter and Fisca

l Year

2015 Guidance

Second Quarter of 2015 Gu

idance-

The Company expects to ship between 1,100 MW to 1,140 MW of PV modules, of which 150 MW to 170 MW of PV modules wil l be shipped to the Company’s downstream PV pro jects, revenues of which will not be recognized. The Company expects to connect 65 MW to 70 MW of PV projects to the grid in the second quart er of 2015.

Fiscal Year 2015 Guidance2015 Manufacturing Capacity The Company expects to achieve annualized capacity at the end of 2015: • Ingot production capaci ty of approximately 2.2 GW • Wafer capacity of approx imately

1.7 GW • PV cell capacity of approx imately 3.5 GW • Module capacity of approx imately 4.8 GW • The Company expects tot al PV module shipments to be between 4.4 GW and 4.6 GW, of which 700 MW to 800 MW of PV modules will be shipped to the Co mpany’s downstream projects. The total shi pment volume represents an increase of 20% to 26% from 2014. The Company expects to con nect to the grid 700 MW and 750 MW of downstream PV power projects across the world, including 30% to 40% of DG projects in China.

June-July 2015

QUARTER RESULTS

June-July 2015

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QUARTER RESULTS FIRST SOLAR

“As anticipated the first quarter was a transitional period” First Solar announced financial results for the first quarter of 2015. Net sales were $469 million in the quarter, a decrease of $539 million from the fourth quarter of 2014.

he sequential decrease in net sales resulted from retaining projects, which would otherwise have generated revenue in anticipation of the Company’s announced plans to pursue a YieldCo. In addition, delays on multiple projects in the current quarter, a higher mix of module only sales and the sale of the SolarGen 2 project in the prior quarter contributed to the lower revenue. The Company reported a first quarter GAAP loss per fully diluted share of ($0.62), compared to earnings of $1.89 in the prior quarter. The decrease in net income compared to the prior quarter was due to lower revenue, the mix of systems projects under construction and a higher proportion of module only and module plus sales. Cash and marketable securities at the end of the first quarter were approximately $1.5 billion, a decrease of approximately $507 million compared to the prior quarter. Cash flows used in operations were $418 million in the first quarter. The decrease in cash and marketable securities during the quarter was due also to the increase in project construction on balance sheet in preparation for a YieldCo launch.

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illion f $469 m uted o s le a s » Net loss per fully dil P » GAA of ($0.62) eshare ketable s et r a m d n a n » Cash s of $1.5 billion, e iti r u c n 1.2 billio cash of $ of new bookWdc » 593M ear to date book Y . s ing c 05MWd ings of 9 line efficiency % lead av» 16.3 of April. 15.6% d cy at en e efficien n li d a le erage for Q1

“As anticipated, the first quarter was a transitional period as we executed on our plans to form 8point3 Energy Partners,” We continue to enhance the overall strength of our business with our lead line now running at 16.3% efficiency and our announced strategic alliance with Caterpillar.”

- said Jim Hughes, CEO of First Solar.

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

Net Sales of $750 to $850 million

Earnings of $0.45 to $0.55 per fully diluted share, including a non-recurring tax benefit of approximately $0.40

Cash flow used in operating activities of ($250) to ($350) million

June-July 2015

QUARTER RESULTS

JA Solar First Quarter 2015 Results

“Growth was driven by strong demand in the Japanese and European markets” - Saumya Bansal Gupta JA Solar one of the world’s largest manufacturers of high-performance solar power products, announced its unaudited financial results for its first quarter ended March 31, 2015.

“Our first quarter shipments were in line with our expectations during a seasonally slow period. During the quarter, our gross margin held up well due to reduced material costs and high demand from the Japanese market, where pricing was better than expected. Shipments to Europe were also strong, growing both year over year and sequentially.” Mr. Jin continued, “Moving forward, we expect to see stronger demand in the second half, particularly in China and North America. Meanwhile, we remain focused on the execution of our downstream business and strategically expanding our manufacturing capabilities. We are currently working to establish a new cell manufacturing facility in Malaysia. Malaysia offers an advantageous location for our additional capacity as we continue to evaluate new opportunities in emerging markets, such as Latin America and India. Just earlier this month, we announced a new joint venture to develop solar projects in Chile, and believe this partnership will be a great opportunity for us to accelerate our penetration in the Latin America market. “We are confident that our strong manufacturing and sales execution, growing downstream project portfolio, and continued geographic expansion will be key growth drivers for us moving forward. These, combined with the expected pick-up in demand in the second half of the year, leave us very optimistic about the remainder of 2015 as we continue to build on our leadership position in the industry.” - Mr. Baofang Jin, chairman and CEO of JA Solar

June-July 2015

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QUARTER RESULTS

First Quarter 2015 Highlights »

Total shipments were 681.5 megawatts (“MW”), an increase of 6.8% y/y and decrease of 28.5% sequentially Shipments of modules and module tolling were 584.1 MW, an increase of 50.5% y/y and decrease of 33.6% sequentially Shipments of cells and cell tolling were 97.4 MW, a decrease of 61.1% y/y and an increase of 33.2% sequentially Net revenue was RMB 2.4 billion ($387.7 million), an increase of 5.6% y/y and a decrease of 32.8% sequentially. Year over year growth was driven by strong demand in the Japanese and European markets. Gross margin was 16.1%, a decrease of 60 basis points y/y and an increase of 60 basis points sequentially. The sequential gross margin increase was driven by reduced raw material costs and high exposure to Japan where pricing was higher. Operating profit was RMB 149.6 million ($24.1 million), compared to RMB 160.9 million ($26.0 mil-

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lion) in the first quarter of 2014, and RMB 222.4 million ($35.9 million) in the fourth quarter of 2014 Net income was RMB 35.0 million ($5.6 million), compared to RMB 85.0 million ($13.7 million) in the first quarter of 2014, and RMB 166.1 million ($26.8 million) in the fourth quarter of 2014 Earnings per diluted ADS were RMB 0.59 ($0.10), compared to RMB 1.41 ($0.23) in the first quarter of 2014, and RMB 2.55 ($0.41) in the fourth quarter of 2014 Cash and cash equivalents were RMB 1.9 billion ($306.2 million), a decrease of RMB 256.7 million ($41.4 million) during the quarter Operating cash flow was negative RMB 237.1 million ($38.2 million), compared to positive RMB 198.2 million ($32.0 million) in the first quarter of 2014 Non-GAAP earnings1per diluted ADS were RMB 0.82 ($0.13), compared to RMB 1.99 ($0.32) in the first quarter of 2014, and RMB 1.74 ($0.28) in the fourth quarter of 2014

Business Outlook

For the second quarter of 2015, the Company expects total cell and module shipments to be in the range of 680 MW to 720 MW. Full year 2015 shipments are expected to be in the range of 3.6 GW to 4.0 GW, including 200 MW of modules shipments to the Company’s downstream projects.

June-July 2015

QUARTER RESULTS

ADVANCED ENERGY

“Growing number of opportunities and ongoing global expansion helping the company” - Saumya Bansal Gupta

» Revenue of $141 million r diluted share » GAAP earnings of $0.52 pe

Our agile business model and diversity of applications allow us to effectively respond to changing market dynamics. With an enhanced management team, a growing number of opportunities in current and target applications and ongoing global expansion, we are building upon our leadership position in precision power products.

.57 per diluted share » Non-GAAP earnings of $0 million in cash » Ended quarter with $156

dvanced Energy announced financial results for the first quarter ended March 31, 2015. The company reported first quarter sales of $141.1 million compared with $152.7 million in the fourth quarter of 2014 and $140.9 million in the first quarter of 2014. Net income was $21.3 million or $0.52 per diluted share. On a non-

GAAP basis, adjusted net income was $23.6 million or $0.57 per diluted share. A reconciliation of non-GAAP net income and earnings per share is provided in the tables below. The company ended the quarter with $155.9 million in cash and marketable securities, a sequential increase of $27.5 million.

“With another record quarter in our semiconductor applications and a mix shift to higher margin products we drove significantly higher profitability this quarter.” “Our agile business model and diversity of applications allow us to effectively respond to changing market dynamics. With an enhanced management team, a growing number of opportunities in current and target applications and ongoing global expansion, we are building upon our leadership position in precision power products.” - Yuval Wasserman, President and CEO of Advanced Energy.

June-July 2015

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QUARTER RESULTS Inverters Inverter sales were $35.3 million in the first quarter of 2015, down 24.7% from $46.8 million in the fourth quarter of 2014, and down 39.3% from $58.1 million in the first quarter of 2014. Solar inverters were impacted by seasonality, pricing pressure and the effect on sales of our pursuit of strategic alternatives for this business.

Net Income Net income for the first quarter of 2015 was $21.3 million or $0.52 per diluted share, compared with net income of $9.3 million or $0.23 per diluted share in the fourth quarter of 2014, and $14.7 million or $0.35 per diluted share in the first quarter last year. On a nonGAAP basis adjusted net income this quarter increased to $23.6 million or $0.57 per diluted share from $20.6 million or $0.50 per diluted share in the fourth quarter of 2014, and $18.1 million or $0.43 per diluted share in the same period last year.

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Second Quarter 2015 Guidance Based on the company’s current view, guidance for the second quarter of 2015 is within the following ranges:

» Sales of $126 million to $136 million » GAAP earnings per share of $0.32 to $0.36 » Non-GAAP earnings per share of $0.38 to $0.41

June-July 2015

QUARTER RESULTS

ASIA

Europe

Japan CHINA

South America

CANADIAN SOLAR

Have set a new record aided by strong demand in Japan, China, Europe and Latin America

- Saumya Bansal Gupta

First Quarter 2015 Highlights »

Total solar module shipments were 1.23 GW, of which 1.03 GW was recognized in revenue, compared to 897 MW recognized in revenue in the fourth quarter of 2014, and first quarter guidance in the range of 1.0 GW to 1.03 GW. Net revenue was $860.9 million, compared to $956.2 million in the fourth quarter of 2014 and first quarter guidance in the range of $725 million to $775 million. Net revenue from the total solutions business as a percentage of total net revenue was 35.9% compared to 51.7% in the fourth quarter of 2014.

Gross margin was 17.8%, compared to 19.3% in the fourth quarter of 2014 and first quarter guidance in the range of 16% to 18%.The sequential decrease in gross margin was primarily due to lower average selling price of modules and lower margin from the total solution business in Canada.

Net income attributable to Canadian Solar was $61.3 million, or $1.04 per diluted share, compared to $75.7 million, or $1.28 per diluted share, in the fourth quarter of 2014.

Cash, cash equivalents and restricted cash balances at the end of the quarter totaled $1.04 billion, compared to $1.02 billion at the end of the fourth quarter of 2014.

June-July 2015

Net cash generated from operating activities was $124.9 million, compared to net cash generated from operating activities of $259.1 million in the fourth quarter of 2014.

During the quarter, the Company closed the sale of three solar power plants in Canada, and connected four solar power plants to the grid in the United Kingdom.

At the end of the quarter, the Company completed the acquisition of Recurrent Energy, LLP (“Recurrent”) from Sharp Corporation, expanding its project pipeline to 8.5 GW.

By geography, in the first quarter of 2015, sales to the Americas represented 48.7% of net revenue, sales to Asia and other markets represented 33.6% of net revenue, and sales to Europe represented 17.7% of net revenue, compared to 61.8 %, 32.7% and 5.5%, respectively, in the fourth quarter of 2014 and 43.6%, 50.4% and 6.0%, respectively, in the first quarter of 2014.

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QUARTER RESULTS “2015 started out strong for Canadian Solar, with both solar module shipments and revenue coming in ahead of our first quarter guidance. We have set a new record in quarter MW shipment, aided by strong demand in Japan, China, Europe and Latin America. We further consolidated our position as a Tier 1 global leader in the project development space with the close of our Recurrent Energy acquisition at the end of March. This acquisition immediately expanded our total project pipeline to 8.5 GW, with approximately 2.4 GW of late-stage projects. Along with the Recurrent project pipeline, we have also acquired a highly motivated group of employees with a long history of successful project development, financing, engineering, construction and sales. All of this provides momentum as we continue to pursue our YieldCo strategy to build value for Canadian Solar and our shareholders.”

“We are pleased with our record results for a first quarter, as well as with the underlying positive trends of our business. Gross margin for the first quarter came in at the high-end of our guidance, as we partially offset the impact of a lower module ASP with ongoing manufacturing cost reductions. We ended the quarter with $1.04 billion of cash, cash equivalents and restricted cash, up from $1.02 billion at the end of the prior quarter. We continue to focus on using our balance sheet to support the growth opportunities that will drive the highest value for our company and shareholders, both organically and through mergers and acquisitions, as we did with our acquisition of Recurrent. Another positive for us was the reduction of both our inventory and accounts receivable balances at the end of the quarter compared to the prior quarter. These improvements further reflect our ongoing efforts to improve organizational efficiencies and to reduce manufacturing costs wherever possible.”

- Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar

- Michael G. Potter, Senior Vice President and Chief Financial Officer of Canadian Solar

Business Outlook

For the second quarter of 2015, the Company expects total module shipments to be in the range of approximately 950 MW to 1000 MW, including approximately 165 MW of shipments to the Company’s utility-scale solar projects that will not be recognized in second quarter 2015 revenue. Total revenue for the second quarter of 2015 is expected to be in the range of $570 million to $620 million, with gross margin expected to be between 13.0% and 15.0%.

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar commented, “This is an exciting time for us to be in the solar industry. All of our hard work since founding the Company has positioned Canadian Solar as a strong global leader of the solar industry. We are in the right markets with an excellent team capable of delivering on our growth strategy. We have always taken a long-term view on the solar energy market. Our goal is to build upon Canadian Solar’s strengths, to create sustainable value for our shareholders. We are positive in our outlook for 2015 given our pipeline of solar projects in key markets worldwide. Based on recent market reports and our own intelligence, we believe that Tier 1 demand may exceed Tier 1 supply later this year. This is driven by policy factors, such as the acceleration of demand in the U.S. ahead of the investment tax credit (ITC) expiration in 2016 and the higher target for the domestic China market in 2015, along with continued strength in markets where we have an established leadership presence. Favorable economic conditions have swung the energy demand pendulum further toward solar, which is resulting in rising demand worldwide. As we have done in the past, we will likely make strategic capacity additions in order to meet the increased demand levels we are seeing and anticipate. We plan to update the market on our business and progress around our evaluation of a potential YieldCo structure at our Investor Day on May 18, 2015.”

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June-July 2015

QUARTER RESULTS

Jinko Solar

“Strong quarter with Solid growth”

- Saumya Bansal Gupta

Total solar product shipments to the third 5 31, 20d 1completed parties amounted to 789.2 any ha MW, consisting of 703.5 MW The Comp of solar modules, 53.3 MW W M of silicon wafers and 32.4 . lar projects MW of solar cells. This worth of so represents a decrease of 5.8% from 838.2 MW in the fourth quarter of 2014 and an increase of 35.8% from 581.2 MW in the first quarter of 2014. Total solar module shipments were 753.8 MW, which includes 50.3 MW earmarked for use in the Company’s downstream projects. h

As of Marc

617

otal revenues were RMB2.7 billion (US$443.5 million), representing a decrease of 7.5% from the fourth quarter of 2014 and an increase of 36.5% from the first quarter of 2014.The sequential decrease in revenues was primarily attributable to a decrease in shipments of solar modules primarily as a result of seasonality and slightly decreasing ASPs due to the depreciation of the Euro and Japanese Yen against the RMB. The year-over-year increase in total revenues was mainly attributable to the increases in shipments of solar modules and electricity revenues from solar projects. Revenue generated from downstream solar power projects were RMB102.1 million (US$16.5 million), representing an increase of 26.9% from the fourth quarter of 2014 and an increase of 111.1% from the first quarter of 2014. Downstream solar power projects generated 115.27 GWh, a 25.3% increase from the fourth quarter of 2014 and an increase of 149.1% from the first quarter of 2014. » »

June-July 2015

Gross margin was 20.3%, compared with 22.8% in the fourth quarter of 2014 and 24.0% in the first quarter of 2014. Income from operations was RMB230.0 million (US$37.1 million), compared with income from operations of RMB236.6 million in the fourth quarter of 2014 and income from operations of RMB203.5 million in the first quarter of 2014. Net income attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders was RMB51.0 million (US$8.2 million), compared with net income attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders of RMB244.7 million in the fourth quarter of 2014 and net income attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders of RMB9.5 million in the first quarter of 2014. Diluted earnings per American depositary share (“ADS”) was RMB1.60 (US$0.24), compared with diluted earnings per ADS of RMB3.12 in the fourth quarter of 2014 and diluted loss per ADS of RMB1.20 in the first quarter of 2014. Non-GAAP net income attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders in the first quarter of 2015 was RMB171.2 million (US$27.6 million), compared with non-GAAP net income attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders of RMB237.1 million in the fourth quarter of 2014 and non-GAAP net income attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders of RMB43.7 million in the first quarter of 2014. Non-GAAP basic and diluted earnings per ADS were RMB5.52 (US$0.88) and RMB5.36 (US$0.88), respectively, in the first quarter of 2015.

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QUARTER RESULTS

“We had another strong quarter with solid growth as we further solidified our leading position in the global solar industry. Total revenues during the first quarter of 2015 reached US$443 million, representing an increase of 36.5% over the same period in 2014. Module shipments to third parties reached 703.5 MW, exceeding the high end of our guidance of 600 MW. As our solar project capacity and pipeline continue to grow and our Malaysia facility begins operations, I am optimistic about new opportunities for the rest of the year.” “Our Malaysia facility commenced operations on May 26, 2015 with the strong support of the local government as part of our globalized manufacturing strategy. The facility has capacity of 500 MW of cells and 450 MW of modules and is already fully reserved. We expect that our Malaysia facility will be highly costcompetitive. As we increase production capacity, we expect the facility to help drive strong overall gross margins for the rest of the year.”

- Mr. Kangping Chen, JinkoSolar’s Chief Executive Officer

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“Solar power output during the first quarter reached 115 GWh with revenues reaching RMB102 million, representing an increase of 26.9% from the fourth quarter of 2014. We expect to generate 190 GWh to 200 GWh of power in the second quarter of 2015. With our project capacity continuing to grow, we expect to see this high-margin business will contribute more meaningfully to our net profits and total revenues.” “We connected 114 MW of solar projects to the grid during the quarter, bringing the total capacity of connected projects to 617 MW. With another 370 MW currently under construction, we are on track to connect 600 MW to 800 MW for the year. To support our fast-growing power generation business, we have expanded our project financing capabilities with new strategic financing agreements with China Minsheng Bank and China Development Bank Leasing.” “Our geographic presence continued to grow thanks to strong brand recognition and deep relationships with global partners. We continued to make progress in the U.S. and new emerging markets such as Chile and Brazil. We also significantly increased our market share

Second Quarter

and shipments to Japan and the UK, where customers ended their fiscal year during the first quarter. We expect to see strong demand from the Chinese market since next quarter where we remain a market leader. By managing our resources efficiently, we are strengthening our position as a leading solar product supplier for key solar markets.” “On the technology front, we are focused on increasing the efficiency and output of our mainstream high-efficiency products while we continue to develop high-efficiency black silicon technology and improve our double-glass modules. Non-silicon costs remained flat despite the impact of Chinese New Year and a stronger RMB exchange rate against the US dollar. We are confident that we will maintain our position as the industry cost leader.” “With a new production facility, strong support from leading financial institutions, and a downstream business rapidly gaining momentum, I am confident that 2015 will be another strong year for JinkoSolar. We will continue to invest in our business in order to increase shareholder value and leverage our momentum for the remainder of the entire year.”

and Full Year 20

15 G

uidance For the second qu arter of 2015, the Company estimate shipments to be in s total solar modu the range of 850 MW le to 800 MW module to 950 MW, which includes 750 MW shipments to third parties and 100 MW own downstream projects. Revenues to 150 MW for its will not be recogn shipped to its own ized for the modu downstream proje les cts as required by U.S. GAAP. For the full year 2015, the Compa ny estimates tota l solar module sh ipments to be in th e range of 3.3 GW and 3.8 GW which includes 2.7 GW to 3.0 GW modul e shipments to third parties. The Com pany expects to grid-connect solar power projects with a total capa city of 600 MW – 800 MW in 2015.

June-July 2015

QUARTER RESULTS

June-July 2015

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Finance summit 2015

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QUARTER RESULTS

Yingli Solar

First Quarter 2015 Consolidated Financial and Operating Summary - Saumya Bansal Gupta

Total net revenues were RMB2,905.8 million (US$468.7 million).The decrease in total net revenues in the first quarter of 2015 compared to the fourth quarter of 2014 was mainly due to a smaller amount of shipments in the first quarter of 2015.

» Total photovoltaic (“PV”) module shipments (including shipments for PV systems to the Company’s own downstream PV projects) were 754.2MW.The decrease in PV module shipments was primarily due to the impact of traditional seasonality in the China market, and was partially offset by an increase in shipments to Japan and other emerging markets, including those in Southeast Asia and South America. » Gross profit was RMB410.8 million (US$66.3 million), representing a gross margin of 14.1%. The gross margin on sales of PV modules was 14.8%.The decrease in gross profit from the fourth quarter of 2014 was mainly due to the decrease in total net revenues and the increase in unit manufacturing cost as a result of lower utilization rate of production capacity in the first quarter of 2015.

“We are pleased to see that shipments of PV modules in the first quarter of 2015 increased by over 19.6% year over year, marking a historically high record of first quarter growth for the Company. This record growth was highlighted by, among others, robust demand from Japan and emerging markets such as Southeast Asia and Latin America. ” - Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy.

» Operating loss was RMB66.4 million (US$10.7 million), representing a negative operating margin of 2.3%. » On an adjusted non-GAAP basis, earnings before interest, tax expenses, depreciation and amortization (“EBITDA”) were RMB199.8 million (US$32.2 million). » Net loss was RMB363.2 million (US$58.6 million) and loss per ordinary share and per American depositary share (“ADS”) was RMB2.00 (US$0.32). On an adjusted non-GAAP basis, net loss was RMB353.0 million (US$56.9 million) and loss per ordinary share and per ADS was RMB1.94 (US$0.31).

June-July 2015

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QUARTER RESULTS

Mr. Miao Also Commented “In the first quarter of 2015 our sales to Japan and the emerging markets performed remarkably well, reflecting a positive trend as the result of our efforts to achieve greater market diversification. Our shipments to Japan increased significantly by over 100% compared to the first quarter of 2014. Meanwhile, shipments to the emerging markets (i.e. markets other than China, Japan, Europe, and the U.S.) accounted for 19% of our total shipments in the first quarter, more than doubling from 9% in the fourth quarter of 2014. In China, the PV industry gained additional momentum in the first quarter of 2015 compared to the same quarter of 2014. We continue to maintain our long-term cooperation with state-owned utility partners in developing our domestic downstream business in China. Our sales performance in the U.S. market experienced a flat quarter as some customers postponed their purchases on the expectations of a lower rate of import duty tariffs that may come into effect soon, and we expect that demand will pick up if the import duty tariffs are reduced as expected during the second half of this year. In Europe, the demand for our products remained stable during this quarter. We have made good progress on our plans to restructure our European operations, and also are planning to reduce our headcounts there by approximately 50% as compared to 2014. Implementation of the plan has been well on track so far.”

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“During the first quarter of 2015 our downstream business kept expanding at a steady and reliable rate. We began the construction of 94 MW of utility and distributed generation projects in the first quarter. We have connected to the power grid 128 MW of solar projects, most of which are in China. In addition, we also are actively exploring options to better finance our downstream business and have obtained a RMB300 million credit facility in April which will be used to finance the construction of PV projects. In light of accelerated development of solar projects around the world, we expect to complete and connect to power grids approximately 400-600MW of solar projects by the end of 2015. We also expect to sell roughly half of these 400600MV of solar projects to third parties in 2015, which will generate cash inflows and improve our balance sheet.” “We also are pleased to report that, just as we paid in full the principal and interests on medium-term notes of RMB1.2 billion due in May 2015, we are confident to repay on time and in full another tranche of medium-term notes of RMB 1 billion due in October 2015. In the long run, we will continue to reduce our debt exposure through a combination of alternative financing solutions in order to optimize our debt structure and improve our financial condition.” Mr. Miao concluded.

June-July 2015

QUARTER RESULTS Business Outlook for Second Quarter and Fiscal Year 2015

June-July 2015

Second Quarter of 2015 -

Fiscal Year 2015 -

Based on current market conditions, the Company’s current operating conditions, estimated production capacity and forecasted customer demand, the Company expects its PV module shipments to be in the estimated range of 720MW to 750MW, of which 40MW to 60MW of PV modules will be shipped to the Company’s downstream PV projects for the second quarter of 2015.

Based on current market conditions, the Company’s current operating conditions, estimated production capacity and forecasted customer demand, the Company expects its total PV module shipments to be approximately 3.6GW , of which 400600MW of PV modules will be shipped to the Company’s own downstream PV projects for fiscal year 2015.

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QUARTER RESULTS China Sunergy

Revenue generated from Asia accounted for 64.6% of the total revenue in 2014 - Saumya Bansal Gupta

China Sunergy a specialized solar cell and module manufacturer announced its financial results for the fourth quarter and full year ended December 31, 2014.

Fourth Quarter 2014 Financial Highlights »

Total revenue was US$126.7 million, an increase of 100.2% from US$63.3 million in the third quarter of 2014. Self-branded revenue totaled US$118.4 million and OEM revenue was US$7.4 million. Sales revenue generated from Asia accounted for 68.6% of total revenue in the fourth quarter of 2014, of which China and Japan accounted for 55.6% and 10.1% of total revenue, respectively. Sales to European markets represented 26.7% of total revenue in the fourth quarter 2014, of which France accounted for 19.8% of total revenue. Shipments totaled 305.4MW, an increase of 121.6% (167.6MW) from 137.8MW in the third quarter of 2014. Module shipments including 61.5MW module processed under OEM arrangements were 218.9 MW. Cell shipments including 3.3MW cell processed under OEM arrangements were 86.5MW. Average selling pricefor the Company’s solar modules, excluding those processed under OEM arrangements, was US$0.59 per watt, a decrease of 6.3% from US$0.63 in the third quarter of 2014.The decrease in self-branded module ASP was primarily due to higher shipments to lower-priced regions. ASP for the Company’s self-branded cell during the fourth quarter of 2014 was US$0.31 per watt, unchanged from the previous quarter.

June-July 2015

“I am pleased with the Company’s sharp turnaround in the fourth quarter. During the fourth quarter, we were able to increase module sales to China, improve manufacturing efficiency, and lower conversion cost, which combined to expand our gross margin by 790 basis points quarter-over-quarter. Our ability to nimbly adapt to market conditions enabled us to quickly ramp up our overseas manufacturing base. I am delighted that our manufacturing plant in Turkey has grown stably since inception, as total revenue generated from Turkey grew to US$110.1 million in 2014 at a gross margin of 6.2%. We will continue to ramp up capacity utilization at our Turkey plant to serve the European market. We will also seek to duplicate our success in Turkey and migrate some of our existing capacities to other strategic geographies outside of China.” “In 2015, we expect there will be robust demand for solar energy in China. The country is now deepening its commitments to lowering air pollution and reducing carbon emissions, and plans to boost the photovoltaic capacity by 19% to 17.8GW in 2015. We will continue to expand sales in China, as well as, explore BOT (build-operate-transfer) opportunities for small-to-mid-sized distributed solar power stations on the mainland. As we execute on our 2015 strategies, I expect our gross margin will improve and our customer base will be further diversified.” - Mr. Tingxiu Lu, CEO of China Sunergy

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Gross profit was US$5.2 million, and gross margin was 4.1%, compared with gross loss of US$2.4 million and gross margin of negative 3.8% in the third quarter of 2014.The quarter-over-quarter increase in gross profit and gross margin was mainly driven by higher module shipments, which increased by 122.3%.

QUARTER RESULTS

Net loss attributable to ordinary shareholders was US$10.0million, compared with 25.6 million in the third quarter 2014. Net loss attributable to ordinary shareholders per ADS was US$0.67, compared with US$1.73 in the third quarter of 2014. Cash, cash equivalents and restricted cash totaled US$221.5 million, as of December 31, 2014.

Full Year 2014 Financial Highlights »

Total revenue was US$341.1 million, an increase of 7.9% from US$316.2 million in the prior year. Self-branded revenue totaled US$316.7 million and OEM revenue was US$20.4 million. Driven by the robust demand from China and Japan, revenue generated from Asia accounted for 64.6% of the total revenue in 2014, compared with 49.7% of the total revenue in 2013. Shipments totaled 767.8MW, an increase of 33.0% from 577.4MW in the prior year. Module shipments including 110.4MW module processed under OEM arrangements were 531.1 MW Cell shipments including 69.0MW cell processed under OEM arrangements were 236.7MW. Average selling pricefor the Company’s solar modules, excluding those processed under OEM arrangements, was US$0.63 per watt, an increase of 3.3% from US$0.61 in the prior year.The increase in module ASP was mainly attributable

the gradual recovery of Photovoltaic industry in Chinese market. The Company’s self-branded cell ASP in 2014 increased to US$0.31 per watt, compared with US$0.19 per watt in the prior year. The increase in cell ASP was mainly attributable to the Company producing and selling higher quality cells. Gross profit was US$10.6 million, and gross margin was 3.1%, compared with gross profit of US$15.2 million and gross margin of 4.8% in 2013.The decrease in gross profit and gross margin was mainly due to lower shipments of self-branded modules. During 2014, the shipments of self-branded modules were 420.7MW, a decrease of 52.1MW as compared to 472.8MW in previous year, whereas the total shipments of cells were 236.7 MW, compared with 29.3 MW in the year of 2013. Net loss attributable to ordinary shareholders was US$56.1 million, compared with US$50.6 million in

» »

2013. Net loss attributable to ordinary shareholders per ADS was US$4.08, compared to a net loss per ADS of US$3.7 in the prior year. Additional Company Updates Subsequent to Fourth Quarter 2014 China Sunergy entered into a supply agreement with Blue Sun, S.L.U, a Honduras based customer, with total volume of 10.5MW. China Sunergy obtained government approval of developing a 20MW ground solar power station in Shangdong Province, China. China Sunergy obtained government approval of developing two distributed power projects with 20MW each, in Erdos, Inner Mongolia Autonomous Region, China. China Sunergy signs 81MW solar cells supply agreement with Solar Park Korea, further demonstrating the Company’s strong brand awareness and products presence in global market.

China Sunergy sold the second solar power project in the UK to a third party purchaser in January 2015. The Company constructed two solar power projects in the UK in 2012. These solar power projects were connected to the grid and begun to generate power in March and April,2013, respectively. The first solar power project, which was connected to the grid in March 2013, was sold in later 2013. For the full-year 2015, the Company estimates total shipment, including OEM arrangements will range between 900MW to 1000 MW, an increase of 17% to 30% from full-year 2014.

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Amendments to Electricity Act 20 0

Affordability of energy rriage and Separation of Ca fu ture of renewable ener the 3 t gy and Conten ip rms h refo s of e r wav Next Partne Sanctity of Contracts f Public Private co o t ac in the sector p im ic Ease of Doing E nom ed s n io is ec Stressed StranAdch d B l usiness in India judicia ievements and co s Asset Mainstreaming Renewable Energy in state transmissi nstraints on

The Regulators & Policymakers 3 6 September 2015 Retreat 2015 Goa Marriott Resort & Spa rd –

Theme – The Epochal Shift in the Idea of India – Meeting Aspirations? Organised by

Supported by

Awards Partner

Knowledge Partner for Awards

Travel Partner

Ministry of Coal Government of India

Supporting Partners

Govt Speakers & PSU: Ms. Meenakshi Lekhi, Member of Parliament (Lok Sabha) Mr. AK Dubey, Addl. Secretary, Ministry of Coal Mr. Ajay Jain, Secretary (Energy) Govt. of Andhra Pradesh *Mr. Gopal Krishna, Addl Chief Secretary, Power, Govt. of West Bengal Mr. Arun Goyal (IAS) Principal Secretary (Power) Govt. of Goa Mr. KS Popli, CMD, IREDA Mr. AB Agrawal, CMD, BBMB

Supporting Magazine Partners

Regulators Confirmed: Mr. UN Panjiar, Chairman, Bihar Electricity Regulatory Commission Mr. RN Sen, Chairman, West Bengal Electricity Regulatory Commission Mr. MK Shankaralinge Gowda, Chairman, Karnataka Electricity Regulatory Commission Mr. Ismail Ali Khan, Chairman, Telangana State Electricity Regulatory Commission Mr. Anand Kumar, Chairman, Meghalaya State Electricity Regulatory Commission Mr. SK Chaturvedi, Chairman, Jt. Electricity Regulatory Commission for Goa & Uts Mr. Digvijay Nath, Chairman, Arunachal Pradesh Electricity Regulatory Commission *Mr. SK Chatterjee, Dy. Regulatory Affairs, Central Electricity Regulatory Commission

Other speakers: Mr. Husain Haqqani, Author, Director for South and Central Asia, Hudson Institute, USA Mr. Shashi Tharoor, Author & Politician Mr. S Ravi Shankar, Senior Partner, Law Senate Mr. Devdutt Patanaik, Author, Mythologist; Mr. Suhel Seth, Managing Partner, Counselage India Mr. Milorad Zecevic, Regional Manager – Asia Pacific, Energy Exemplar Australia Mr. Reji Pillai, President, ISGF Mr. Ravi Arya, President, Hindustan Power Mr. Dipesh Dipu, Partner, Jenissi Management Consultants Mr. Gopal Saxena, Director, BSES Rajdhani & Yamuna Power Ltd Mr. Harry Dhaul, Director General, IPPAI

IPPAI POWER AWARDS

In order to encourage all round growth in the power sector in India, IPPAI has been awarding the best performers in the sector since RPR 2012. This year, at the RPR 2015 in addition to these awards, IPPAI will specifically recognise those who have through innovation contributed significantly towards waste to energy, waste heat to energy, energy storage and other such energy efficiency related activities. IPPAI has taken this step towards fulling the present need to stimulate the power sector which will open up a new window for sustainable, easily available and affordable energy for all.

For more details contact : Iqbal Kaur For Sponsorships : Neetu Nair : Ankit Gupta : Vishal Kapadia 76 EQ June-July 2015

E: iqbal@ippaimail.org E: neetu@ippaimail.org E: ankit@ippaimail.org E: vishalkapadia81@gmail.com

Independent Power Producers Association of India

M: +91 9582229844 M: +91 9873080070 M: +91 9718944234 M: +91 9870615091

For Government : Anil Rai E: anil@ippaimail.org M: +91 9873234386 Participation For IPPAI Awards : Gracy Romalsawmi E: gracy@ippaimail.org M: +91 9711811014 Nomination & Media

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