EQ Magazine PART B Nov 2017 InterSolar Special Edition by EQ Int'l Solar Media Group

We turn passion into power. Every journey begins with the first step. At the turn of the year 1998/1999, Ralf Hofmann and a dozen engineers took the huge step and started an enterprise that was solely dedicated to photovoltaics. They brought with them a lot of ingenuity and enthusiasm as well as decades of experience from the original KACO company, which was one of the first suppliers of inverters in the late 1930s. KACO new energy is today one of the largest manufacturers of solar PV inverters worldwide. Energy storage systems as well as accessories for system monitoring and grid management round off our portfolio. Now that our journey has taken us to India, we look forward to make the next steps towards India‘s renewable energy future together with you.

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CONT EN T

VOLUME 9 Issue # 11

ENERGY STORAGE

Alpha-En Corp. Announces Sam Pitrodaas New Chief Executive Officer

34 ELECTRIC VEHICLES Octillion Power Systems to open EV battery manufacturing facility in India

36 ELECTRIC EHICLES Centre offers Rs 105 crore grant for EVs to Smart Cities with over a million residents

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.

November Part B 2017

INDIA

Renewable equipment prices to fall further

Infosys recognised for leadership on climate ction

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BUSINESS AND FINANCE Big Oil Is Investing Billions to Gain a Foothold in Clean Energy

INTERVIEW

ROOF TOP & OFFGRID

QUARTER RESULTS

INTERVIEW WITH MR.TOMAS POLAK

BUSINESS AND FINANCE Indus, CAM advise on Azure Power’s $30.5m debt financing from Dutch bank FMO

45 BUSINESS & FINANCE Global Infrastruc Ture Partners Acquires Equis Energy For Usd5.0 Billion In Record

ROOF TOP & OFFGRID

QUARTER RESULTS

Rockfeller Foundation seeks PPPs for mini power grid projects

10 MW solar PV project on Teesta Canal Bank commissioned

56 RESEARCH Power sector the most attractive and urban sector the least attractive: Crisil

Canadian Solar Reports Third Quarter 2017 Results

Tata Power Announces Q2 Fy 2017-18 Results

EQ NEWS Pg. 07-37 INDIA

INDIA

Initiate clean cooking movement by tapping solar energy market : PM

Tax Quibble Stalls India Solar Cargoes, Delaying Projects

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Products Pg. 77 EQ

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We were

130MW

Now we are

500 MW PV module mfg. facility

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INDIA

Renewable equipment prices to fall MP govt signs further, says R K Singh guarantee for Rewa Ultra Mega Solar Project

Exuding confidence that energy consumption will rise over 4 times Power Minister R K Singh urged investors to invest in renewables saying the equipment prices will come down further.

he country will require USD 100 billion investment to achieve the target of 175 GW reneweable energy by 2022, as per the government estimates.“Our per capita consumption of energy is about one 6th of Europe and one 12th of USA. Energy consumption is not going to double or triple but it will be over four times. That is how the rate of growth of energy consumption will be (in India,” Singh said while addressing a press conference on the 2nd edition of the Global Renewable Energy (RE) Investors Meet and Expo (RE-INVEST 2017). The 2nd RE-INVEST 2017 was scheduled to be held on December 7-9, 2017 at the India Expo Centre, Greater Noida and National Capital Region of Delhi.Stressing that 40 per cent of Indias energy requirement would be met through renewables, Singh said,

“I dont see any big opportunity as big as it is there. It also makes economic sense. Solar bids yielded tariff of 3.5 or 4 cents per unit (Rs 2.44)”.

The minister said the prices of equipment would further come down with expansion of manufacturing of solar cells and modules as the world expands to use of solar energy. He was of the view that fossil fuels will left behind not because those are bad for the world, but because it also makes sense economically to go in for solar or renewables. He said,”This is matter of worry for those who produce coal or oil. But, this (movement to shift to renewable) can not be stopped because it makes economic sense”. The efficiency of solar panels has already increased to 30 per cent and price will come down due increase in usage, the minister said.

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On the occasion, Renewable Energy Secretary Anand Kumar said that out of the commitments of about Rs 4 lakh crore funding from finical institution, including public and private sector banks, during RE-INVEST 2015, around Rs 1.37 lakh crore has been disbursed. On the sidelines of the conference, he also told reporter that state-owned Indian Renewable Energy Development Agency Ltd (IREDA) will raise USD 300 million through Masala bonds this fiscal. Kumar also said India has set an ambitious target of having 175 GW of renewable energy and has already operational clean energy capacity of 60GW.He also said India will need an investment of around USD 100 billion to meet the target of having 175 GW renewable energy capacity by 2022.

“The founding ceremony will firmly establish the ISA and demonstrate our joint commitment to harness solar energy potential. All prospective member countries of the ISA have been invited to participate in these events,” said an official statement.

Exuding confidence that energy consumption will rise over 4 times Power Minister R K Singh urged investors to invest in renewables saying the equipment prices will come down further.

t is an unconditional guarantee, which state government has offered, with an assurance for payments on behalf of the state discoms in case of any default. Rew Ultra Mega Solar Project (750MW) is one of the largest upcoming solar projects in the world. It is a key initiative towards developing greater solar capacity by 2022. Rewa Ultra Mega Solar Limited is the implementing agency. It is a joint venture owned by MP government and Solar Energy Corporation of India (SECI) of central government. World Bank is giving loan for development of internal infrastructure for the project. Mahindra Renewable, Acme Solar, Spring Energy are solar developers that were selected through bidding process to develop each of 250 MW of units. One of the unique features of the project is a three-tire payment security mechanism for securing payment to developer from MP Power Management Company Limited. Under this mechanism, first two tiers are letter of credit and payment security fund. Third tier is a guarantee from state government. Source: freepressjournal.in

November Part B 2017

INDIA

Larson & Toubro bids lowest for EESL’s tender for Smart Meters Lowest quote of Rs. 2722, per single phase smart meter Genus Power and KEONICS emerge as second and third lowest bidders

arson & Toubro (L&T) has emerged as the lowest bidder of the tender issued by Energy Efficiency Services Limited (EESL) to procure 50 Lakh smart meters. The company has been selected through an international competitive bidding. The meters will be installed over a period of 3 years in a phased manner in Uttar Pradesh UP) and Haryana. L&T quoted the lowest price of Rs. 2722, per single phase smart meter. The tender floated by EESL, a company under the administrative control of Ministry of Power, Government of India (GoI), is the world’s largest single Smart Meter procurement. Fourteen leading manufacturers from around the world participated in the tender. 40 lakh smart meters will be deployed in UP and the remaining 10 lakh in Haryana. The price quoted by L&T is 40-50% lower than the current market rates. Smart meters are a part of the overall Advanced Metering Infrastructure Solutions (AMI) aimed at better demand response designed to reduce energy consumption during peak hours. The overall AMI solution will also have a system integrator who will be responsible for meter installation, data storage on cloud, preparing dashboards, etc. The bids for the system integrator will open.

November Part B 2017

The meters are being procured for implementation of smart grid projects in Haryana and Uttar Pradesh since these states grapple with huge AT&C losses, with the latest figures for both states being 28.42% and 34.36% respectively[1]. The smart meters will help these states in not only significantly reducing their AT&C losses by way of increased billing efficiency, but will completely change the way in which electrical energy is presently being consumed and paid for by the consumers. Installation of these smart meters along with its associated communication and IT infrastructure will enable the DISCOMs to obtain real time energy consumption data of each consumer for subsequent analysis. The Smart meters procured by EESL use GPRS technology to allow 2 –way communication between the DISCOM and consumers. Once installed, an energy supplier can read a meter via the mobile phone network. Householders can also receive a digital display which helps them to access how much power they are consuming – and its cost – in real time. Smart meters enable one to see the consumption pattern and the cost. This means one can adapt the energy use and cut down on waste to provide financial savingsto consumers. They further provide an accurate and real-time information about the energy use, enabling one to take informed decisions about their energy behaviour.

EESL is procuring the smart meters and services of the system integrator with 100% investment and the Utilities will make zero-investment. The repayment to EESL will be through savings resulting from enhanced billing efficiency, avoided meter reading costs, etc. It is said that the average cost of meter reading is Rs. 40 per meter, which will be completely avoided. EESL is driven by the objective of facilitating faster adoption of disruptive technology solutions while balancing economic development and environmental sustainability. EESL is committed to enabling a complete transformation of the energy infrastructure in the country with unique solutions.

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INDIA

Coordinated effort among ministries shows the path to tide over the temporary crisis of coal shortage and occasional high prices in the Power Exchange ress reports have highlighted the issue of the rise in price of power on the Power Exchange on 16th October 2017 to Rs 10.8 per unit.

ower Prices on IEX on 17th October 2017 on an average for the day was Rs. 5.45 per unit, and maximum prices were Rs 10.80 only for half an hour from 6.30 PM to 7.00 PM. The prices on 18th Oct 2017 has dropped to average for the day of Rs 4.33 per unit. It also needs to be noted that the volume of power being traded in the market is to the tune of about 150 Million Units (MU) per day against the total generation of around 3750 MU per day(which is around 4%). Discoms are largely meeting their demand through long term / Medium term contracts and the impact of the current spike in the exchange price is marginal. The total installed generation capacity is around 330GW, out of which the coal based power stations in the country is 193GW which is sufficient to meet the maximum peak demand of

Shri R K Singh

163GW occurred during the current year. At present the maximum peak demand during October 17 is around 160 GW which is around 10 GW higher than the same period last year. The overall growth in generation has been around 6% and the growth of generation from coal based stations was 17% in August 2017 in comparison to the same period last year. Coal based generation continues to see a rise in September and October 2017. The issue of coal supply to power plants is being addressed in a co-coordinated manner by the three concerned Ministries i.e Ministry of Power, Ministry of Coal and Ministry of Railways. This is being monitored at the highest level and Minister of State for Power reviewed it on yesterday with the three Ministries and coal companies. A detailed plan has been agreed which would be implemented from today (18.10.17) and would ensure sufficient supply of coal to power plants.

Shri Piyush Goyal

Shri R K Singh, Minister of State (IC) for Power and Shri Piyush Goyal, Minister of Railways and Coal jointly reviewed the status on today (18.10.17) and also spoke to concerned States which have requested for enhanced supply of coal. They also noted that supply to States like Maharashtra, has improved and efforts will be made to improve the coal stock in all the power stations with low stocks.

Per capita energy consumption may triple in five-seven years: R.K. Singh Union Minister of State (IC) for Power and New and Renewable Energy R. K. Singh recently highlighted the future of growing power consumption in India, with an expand in the per capita energy consumption at a breakneck speed.

ddressing the third Global Investors’ India Forum organised by ASSOCHAM here, Singh assured that the Government would extend all possible support and remove all impediments in the path of investments in the power sector .

“Electricity is the future of economic growth in India. This growth cannot take place without industry participation. I invite you to come and invest in India’s energy sector,” Power and New and Renewable Energy R. K. Singh said.

Further, Singh said the Ministry is in the final stages of codifying laws on a number of fronts, including the honouring of Power Purchase Agreements (PPAs) and penalties for delinquencies. To keep pace with this rapid change in the Renewable Energy Sector, Singh opined that the industry needs to partner with the government in investing in green energy corridors, battery storage technology, grid improvement, electric vehicles programme and so on.

“Our time has come to lead the world in clean energy, and the industry must not be left behind in this endeavour”,

It was also agreed that issues with some DVC power plants which are affected due to closure of Dhanbad – Chandrapura railway line would be resolved expeditiously. Inspite of the unprecedented rise in the demand for coal based power, due to better coordinated planning on daily, weekly and monthly basis and it’s implementation by all the stakeholders, the demand of electricity in the grid is being met and all efforts would be made to ensure availability of adequate power in future also.

November Part B 2017

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INDIA

Infosys recognised for leadership on climate action Infosys has been identified as a global leader in the corporate response to climate change and awarded a position on this years Climate A List by CDP, a non-profit global environmental disclosu platform.

nfosys said it is the only Indian company across all sectors to make it to the leadership Index this year. The 2017 Climate A List comprises 112 global companies, and is published alongside similar lists for corporate leadership on water and forests, the statement said. The List has been produced at the request of 827 investors with assets of over USD 100 trillion, it said.

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"Thousands of companies submit annual climate disclosures to CDP for independent assessment against its scoring methodology," it added. Infosys is among five per cent of companies participating in CDP?s climate change program to be featured on the 2017 Climate A List, the statement said. "This is in recognition of its actions in the last reporting year to cut emissions, mitigate climate risks and develop the low-carbon economy," it said. Infosys became the first company in the IT sector to commit at the UN to becoming carbon neutral, the statement said. "Infosys is not only reducing its energy consumption and increasing the dependency on renewable energy, but also investing considerably on carbon projects, to offset emissions outside

Infosys? control," it said. The Climate A List is released alongside Water A List and Forests A List on CDP?s website, accompanied with case studies from leading companies, the statement said. "This is the first year that CDP has announced company scores across all three areas simultaneously, reflecting a holistic approach to corporate sustainability," it said.

November Part B 2017

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INDIA

Initiate clean cooking movement by tapping solar energy market: PM to start-ups

odi said in the last 35 years, governments had spent Rs 4,000 crore on renewable energy but within three years of his government assuming office, nearly Rs 11,000 crore had been spent. "I invite start-ups run by youth residing in Bengaluru to initiate a clean cooking movement by tapping a huge market potential of solar energy. Whoever initiates it, will be blessed by mothers belonging to poor households," he said participating in a function here. He said through this the country would be in a position to save a huge sum of money. Modi said by 2030, India aimed to address 40 per

Prime Minister Narendra Modi gave a call to startups run by the city youth to initiate a clean cooking movement by tapping the huge market potential of solar energy, saying they would get blessings of women from the poor sections of society. cent of its power needs by means of renewable energy. The government's aim is to produce 175 gigawatt power by 2022, he added. He said LED bulbs which earlier cost more than Rs 350 were now available for Rs 40 to Rs 45 under the Ujala scheme. More than 27 crore LED bulbs had been distributed so far, he said, adding that through this scheme the middle class had been able to save Rs 7,000 crore. The government had distributed more than three crore gas connections to rural women which had not only made a positive difference in their lives, but also contributed to a cleaner environment, he said.

The prime minister said the need of the hour was to make efforts to free India from evils such as illiteracy, ignorance, malnutrition, black money and corruption.

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Modi also highlighted how Adi Shankaracharya, an eighth century philosopher who founded the Advaita Vedanta, integrated the whole of India with the knowledge of Vedas and Upanishads. "Adi Shankaracharya assimilated good things of different ideologies and philosophy and inspired people to follow the path of knowledge and devotion," he said. Recalling his visit to Kedarnath a few days ago, Modi said Adi Shankaracharya had removed evils from society and prevented them from reaching future generations. He said Adi Shankaracharya's penance still exists in the present form of Indian culture--a culture that accepted all and moved forward together. "This culture is the foundation of New India and follows the mantra of Sabka Saath, Sabka Vikas," he said. The prime minister said in a way, India's cultural heritage held the answers to all global problems and added that in India, the stress has always been on preventing exploitation of nature. At the event, "Dashamah Soundarya Lahari Parayanotsava Mahasamarpane" here, thousands of people recited Soundarya Lahari hymns composed by Adi Shankaracharya. The event marks culmination of the programme organised by Vedanta Bharathi, a branch of Sringeri Sharada Peetha, to spread moral values, religious harmony and spiritual enlightenment.

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INDIA

SAD-BJP responsible for power sector mess in Punjab: Congress Under fire over electricity tariff hike, the ruling party Congress in Punjab today put the blame on the previous 10-year rule of SAD-BJP coalition for putting the power sector into “mess”.

he party said the state government has ordered thirdparty audit into the power purchase agreements (PPAs) signed during the previous regime to “unmask” the “scam” in it. It also claimed that the PPAs signed by the power utility PSPCL with the private companies during SAD-BJP regime for the purchase of energy at a “higher” rate was one of the prime reasons behind the current power tariff hike. Power regulator PSERC had announced an average hike of 9.33 per cent in power tariff across all the sectors on October 23. After the announcement of power tariff increase, opposition parties SAD-BJP and AAP strongly condemned the hike and blamed the Congress-led regime for putting additional burden on consumers.

PPCC chief said this power hike has been “forced” on the people of Punjab by the Badals, who signed a tripartite memorandum of understanding (MoU) with the BJP-led central government and the PSPCL for hiking power tariff in the state every year. He alleged that “the real culprit is Sukhbir Badal, who signed the MoU under the UDAY scheme on March 4, 18

November Part B 2017

“Maybe former deputy C M Sukhbir Badal had made Punjab power surplus but at the same time, he has made the state treasury bankrupt…,” Punjab Pradesh Congress Committee Chief Sunil Jakhar said while addressing the media here. “Some new facts have come to light that how public was looted. There was some nexus and understanding with private power producers,” he alleged.

akhar, Gurdaspur MP, claimed that previous Akali government had signed PPA for the purchase of power from private power producers at a very high rate. Citing data procured from power tariff order, Jak har said the previous government had signed for power purchase from Talwandi Sabo power project, Goindwal power project and Rajpura power project at a rate of Rs 5.40 per unit, Rs 8.70 per unit and Rs 3.80 per unit, respectively. As against this, Punjab is getting power at a rate of Rs 2.20 and Rs 1.32 per unit from Sasan and Mundra, he said. Jahar said Punjab was paying fixed charges of Rs 1.35 2016, in the presence of his alliance partner and union power minister, and agreed to hike power tariffs in Punjab on a yearly basis in order to implement the Ujwal Discom Assurance Scheme of the GoI”. As per the UDAY MoU, the Badals had agreed to a five per cent hike in power tariff for 2016-17 and nine per cent for 2017-18. He said the AkaliBJP government, even Bikram Singh

per unit to Talwandi Sabo, Rs 1.50 per unit to Rajpura and Rs 1.93 per unit to Goindwal Sahib thermal plants, whereas fixed charges for Mundra thermal plant were 90 paise per unit and for Sasan thermal plant was 17 paise per unit only. “There is a big scam in it,” claimed Jakhar, adding that “entire power sector is in a mess right now due to Akali BJP regime.” Jakhar said Punjab Chief Minister Captain Amarinder Singh was also upset with the power tariff hike. “A third party audit has been ordered by the Punjab government to look in to these PPAs,” Jakhar said. Majithia as its Minister for Renewable Energy and PEDA, and Sukhbir Singh Badal as the Power minister, signed PPAs at exorbitant costs with Solar and Bio-mass power plants also. He also said that failure of the Badal government to operationalise Pachhwara Captive Coal Mine, which was allotted in Jharkahand, also led to higher power costs in Punjab. Source: PTI

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November Part B 2017

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INDIA

Power surplus Punjab defies law of supply and demand The law of supply and demand determines the unit price of a particular item in all markets across the world. More the supply less is the price. However, Punjab seems to be defying the basic law of microeconomics as despite being power surplus, the state has increased the cost of electricity by 6.68 % to 12.20%, prompting several protests across the state.

er unit cost of power in Punjab has gone up between Rs 4.98 (previously Rs 4.52) and 7.36 (previously Rs 6.56) for the domestic supply and from Rs 7.10 (previously 6.53) to Rs 7.47 (previously 6.75) for commercial establishments. The cost of power for the industrial sector has also gone up by 8.5% to 11.88% as compared to the last year. Punjab has a total installed capacity of 10,590.38 MW of power including 7,087.82 MW of fuel-based units and 3,648.55 MW of renewable sources. The total power available to the state is 11,054 MW, which also includes the stateâ&#x20AC;&#x2122;s shares in several power projects outside its territory. Even after shutting down the Bathinda thermal power plant, the state still has 10,594 MW of power at its disposal which is more than required to meet its requirements during non-peak seasons. The power demand during most of the year floats around 6,000 to 8,000 MW, other than the paddy season when this demand rises above 11,500 MW. This year, the highest demand met was 11,681 MW on July 11. During rest of the year, the state has a surplus power of 1,500-3,000 MW. Meeting this increased demand was hardly a challenge for the PSPCL which had entered into a number of sub-contracts to purchase additional power for a short duration ranging from a few days to a couple of months. During the peak season, this year, the PSPCL had around 1,35,000 MW of power available through these subcontracts. It even managed to earn a profit of around Rs 25 crore over a period of 15 days by selling its surplus power to other states as the demand soared

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during the month of September. Power was even sold at Rs 9 per unit, with an average rate of Rs 4.6 per unit. However, during other months, the demand for power in open markets remains low and the state is unable to sell its surplus power as the average generation cost of one unit of electricity in Punjab is calculated between Rs 3.10 to Rs 3.20, but the same is available in the open market at Rs 2.25 to Rs 2.5 a unit during non-peak seasons. According to the highly placed sources in the Power Corporation, increase in power tariffs in Punjab is inevitable due to the high working capital of the Punjab State Power Corporation (PSPCL). This year, the PSPCL is expecting a revenue generation of Rs 27,142.43 crore as against a net revenue requirement of 32,718.64 crore, which leaves a gap of Rs 5,576.21 crore. To fill this gap, the corporation has no other means but to claim tariff hike as revenue from the sale of power is its only source of

income, the sources said. As per the Multi-Year Tariff Petition (MYTP) for the controlled period of the year 2017-18, the corporation had calculated its spending on power purchase to be Rs 17,988.67 crore and on generation Rs 4,508.44 crore, which sums up to a total of Rs 22,497.11 crore. The remaining revenue requirement is because of other factors including interest on outstanding loans which is Rs 3,462.61 crore for the current fiscal, employee cost which is Rs 4,338.57 crore and various other components, the sources said. These sources said that cost of power could only come down if the state government would introduce measures to bring down the net revenue requirements of the PSPCL. They said closing in debts, which are now over Rs 31,000 crore, could substantially reduce this requirement, which could even get converted into relief for the power consumers of the state. Source: timesofindia.indiatimes

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INDIA

Delhi to buy 1 GW of renewable power by 2019 – report SAYS

Power distribution firms in Delhi will be able to buy 1,000 MW of renewable power by 2019 in an effort to fight air pollution, Delhi’s power minister said.

ited by the Press Trust of India (PTI), Minister Satyender Jain explained that the city government will get more electricity from clean energy sources, if needed. He added that an in-principle agreement has already been made with three discoms. The tendering process will be overseen by central government agency Solar Energy Corporation of India (SECI), with the projected purchase price being under INR 3 (USD 0.046/ EUR 0.040) per kWh.

Jain noted, as quoted by the PTI, that the average price for purchasing electricity in Delhi currently stands at INR 5.50 per kWh. The Indian city has set a goal of producing 1,000 MW of solar power by 2020 under its solar energy policy from June 2016. (INR 10 = USD 0.155/EUR 0.133) Source : PTI

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November Part B 2017

INDIA

Tax Quibble Stalls India Solar Cargoes, Delaying Projects Several solar projects in India are facing delays and inflated costs as customs officials have blocked more than 900 containers of panel shipments for more than a month by demanding higher import duties.

fficials clearing import shipments at the Port of Chennai in South India are classifying solar panels as motors, which attract 7.5 percent import duty as opposed to zero on solar modules, said Sunil Jain, chief executive officer of Hero Future Energies Ltd., a company backed by International Finance Corp. A 30-megawatt shipment of Hero Future was cleared after paying higher duties, he said.

“These additional costs aren’t anticipated when we bid for projects,” Sunil Jain said.

he spat risks imperiling Prime Minister Narendra Modi’s goal of installing 100 gigawatts of solar energy by 2022. To meet that target, developers have relied on low-cost cells and modules from China, enabling tariffs in India to fall to among the lowest in the world. India is China’s second-biggest market for solar equipment with imports worth $3.2 billion for the year ended March 31, according to Bloomberg New Energy Finance research.

oreign investors remain bullish on India’s solar market but they need to take notice of these events and act to minimize resulting losses, said Allen Tom Abraham, a New Delhi-based analyst at BNEF. “The dispute about improper classification of modules would impact project construction in the next two quarters,” he said.

November Part B 2017

Dispute Tribunal

he industry has the option to approach a tribunal after an investigation is complete and an order is passed, a customs official said, asking to not be identified. The tax department contends that the shipment will attract higher tariff as it contains fitments apart from panels that can power other appliances. New York-listed Azure Power Global Ltd, whose shipment was also held back, is struggling to meet project deadlines.

“We had imported 40 MW of modules earlier in the year from the same port without any hassles and now, suddenly, we can’t get more panels from there,” Azure Power Chairman Inderpreet Wadhwa said.

nand Kumar, the top bureaucrat at the ministry of renewable energy, said he has written to other departments to sort out the confusion. D.S. Malik, a finance ministry spokesman, couldn’t be reached for comment. Indian customs falls under the country’s finance ministry.

he issue has surfaced before, BNEF’s Abraham said. In 2016, customs officials at the Jawaharlal Nehru port in Maharashtra made a similar distinction. It was resolved after the customs department issued a directive to exempt solar modules from duties as long as they weren’t connected to a motor or an electrolyser, he said. Source: Bloomberg

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November Part B 2017

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Roof top & Offgrid

Rockfeller Foundation seeks PPPs for mini power grid projects The Rockfeller Foundation, which has committed USD 50 million for mini power grids in India, is looking for public private partnerships to facilitate setting up of such projects, according to a senior official.

o far, the foundation has facilitated setting up of 106 mini power grids in as many villages and the larger aim is to have 1,000 such projects in less than three years. The foundation, which works for betterment of human lives across the world, has set up Smart Power India, which is implementing the Smart Power for Rural Development (SPRD) programme.

“We have an overall target of getting to 1,000 villages and serving a million people. We want to get 1,000 mini grids in less than three years. Noting that about half of the total amount of USD 50 million committed to India has been spent, she said they are now looking for Public Private Partnerships (PPPs) as well as additional funds.

Deepali Khanna Director-Smart Power, Rural Development foundation (She told PTI)

enerally, a mini grid is defined as a system that uses a renewable energy-based generator having a capacity of 10 kilowatt or more to supply electricity through a public distribution network.Under the foundations efforts, currently there are 106 mini grids in three states operating through seven private sector companies.Smart Power India is helping these companies on various fronts, including setting up their plants and put in place an effective business model.

“Right now, we are working in Bihar, Jharkhand and Uttar Pradesh but around public private partnership we also want to look at Rajasthan…,” Khanna said, adding that it is also looking at a range of business models along with the private sector. For mini grids, the foundation is looking at solar power as well as electricity generated from hybrid sources — a mix of solar and biomass. “What we are trying is that as we get the state governments excited about PPP models, we will build a range of models that will give private sector lot of confidence in bidding for and that becomes a win win situation for both sides,” Khanna said. Source: PTI

November Part B 2017

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November Part B 2017

25Â

INDIA

Roof top & Offgrid

Maharashtra College installs 50KW solar plant

lant, set up at a cost of Rs 38 lakh, would generate 70,000 units of electricity per year and help in the saving Rs 7.70 lakh in electricity cost per year. The 150 solar panels would save carbon footprint of 37.1 tonnes per annum. In an effort to reduce its carbon footprint, Maharashtra College has installed a rooftop solar plant of 50 Kilo Watt peak.

“With the way things are going, there is a foreboding rumination on environmental change. We thought that one of the best ways of imparting the value of conserving nature was to do something that would help reduce our institution’s carbon footprint. Therefore, we decided to set up this plant in order to promote the application of natural resources in the larger interest of the environment and the nation,” said Dr Sirajuddin Chougule, Principal, Maharashtra College. The plant, set up at a cost of Rs 38 lakh, would generate 70,000 units of electricity per year and help in the saving Rs 7.70 lakh in electricity cost per year. The 150 solar panels would save carbon footprint of 37.1 tonnes per annum. The college would generate its own electricity at a cost of Rs 2.71 per unit for 25 years against its average tariff of Rs 14 per unit for next 25 years. Located on Belassis Road on the cusp of Kamathipura and Nagpada — the two localities stigmatised due to their association with prostitution and the underworld — Maharashta College has played a pivotal role in ensuring that students from the minority community in Mumbai and its adjoining areas could have access to quality education. For years, the college has fought hard to counter the stigma associated with its location to churn out scholars. The college was started in 1968 by social worker Mohammed Ali Mitha under the aegis of the Khairul Islam Higher Education Society, whose president was Dr Rafiq Zakaria, a veteran parliamentarian, writer, educationist and Islamic scholar.

10 MW solar PV project on Teesta Canal Bank commissioned A 10 MW solar photovoltaic (PV) project has been commissioned on the bank of the Teesta Canal by the West Bengal Government. This solar plant is the first canal-bank project under the government’s canal-top and canal bank projects scheme for solar power plants.

est Bengal Renewable Energy Development Agency (WBREDA) is setting up the Regional Energy Efficiency Centre (REEC) to promote and implement the Energy Efficiency Programme (EEP). WBREDA is developing mass awareness about the usefulness of renewable energy, of which solar energy is a type. It is promoting the usage of appliances using energy-efficient state-of-the art technologies. Energy efficiency is one of the most important tools to avoid global warming. The State Government is also stressing on financial support to enable people to buy and use these kinds of efficient devices. It may be mentioned that the state Power Department is contemplating on the use of energy efficient pumps in agriculture in various districts. The state government has already taken initiatives to increase the electricity access and has added nearly 80 lakh consumers over the past four years. The state has achieved 24X7 quality power supply to its villages. The state government also has a plan to give power to the agriculture sector across the state through a dedicated line to ensure uninterrupted supply at a steady voltage.

Source: indianexpress

November Part B 2017

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ROOFTOP & OFFGRID

3,000 solar panels to power Pune Raj Bhavan with 15 lakh units a year The chief minister Devendra Fadnavis recently said that efforts are on to reduce the production cost of electricity from ₹6 per unit to ₹3.20 per unit through various measures such as reducing the consumption of power to its conservation.

Speaking after inaugurating the solar power project at Raj Bhavan, Fadnavis said the government is offering Rs.10,000 crore as subsidy on power to farmers. “Efforts are on to reduce the subsidy by bringing down the production cost by conserving the electricity at different level. We have also introduced Solar feeder through which we plan to generate power at Rs.3.20 per unit and reduce the subsidy,” said Fadnavis.

he chief minister, on Saturday, laid the foundation stone of a solar feeder at Ralegan Siddhi to ensure cheap and assured electricity to farmers even during the day. Under the solar power project, all three Raj Bhavans in Maharashtra, Pune, Mumbai and Nagpur, will be lit up through nonconventional energy. At Pune’s Raj Bhavan, 3,000 solar panels installed on six acres will generate 15 lakh units of power annually. The idea of lighting up Raj Bhavans on solar panel was first floated by governor Vidyasagar Rao, who was also present during the inauguration ceremony. While the installation of solar panels was carried out by a private firm, the state-owned Maharashtra Energy Development Agency is the nodal agency. The chief minister said that the government, under power minister Chandrashekhar Bawankule,

has taken up the programme to replace normal energy consuming bulbs with energy efficient LEDs. “We have already ensured that around eight crore LEDs have been used and plans to ensure people in the state use eight crore more LEDs in the coming days,” said Fadnavis. Highlighting the use of solar power energy to reduce the usage of conventional energy, the CM stressed upon the new policy taken up by Bawankule.“Energy minister has taken it in his policy to create 14,400 megawatt renewable energy under the new policy which will help save 1,000 megawatt of energy. The first step is to use energy efficient equipment, bulbs and gadgets under this policy, where currently eight crores of LED (streetlights) bulbs have been put up in Maharashtra and another eight crore are to be changed,” the chief minister added.

Cleantech Solar to be part of SBIWorld Bank Programme to address financing needs of grid-connected rooftop solar PV in India “Distributed rooftop solar projects have potential to address 40% of the 100GW solar energy target set by the Government. Financing of such large number of diversified projects has been a key challenge in scaling this segment. The SBI-World Bank facility has been carefully designed to address the financing needs of this emerging sector with special emphasis on sustainability and viability. Cleantech Solar is proud to be part of this SBI-World Bank facility. This program will help companies like ours to meet the energy requirements of our clients in a sustainable manner; One KiloWatt at a time!” Prashant Kothari, Director of Cleantech Solar India

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Cleantech Solar receiving sanction letter under the SBI-World Bank Programme towards financing grid connected rooftop solar projects in India.

November Part B 2017

Roof top & Offgrid

KOR Energy installs Hyderabad Metro solar power systems to have rooftop at cold storages in solar set-up Haryana KOR Energy has used tier 1 modules of Vikram Solar and ABB String Invertors in these projects to ensure maximum yield and performance consistency.

OR Energy (India) Pvt. Ltd., a solar power company has successfully installed a grid connected rooftop solar systems at three cold storages in Haryana. A 90KWp system at Maan Brothers Cold Storage at Kurukshetra, 77KWp system at Lawrance Agro Storage Pvt. Ltd. and 66KWp system at R.P Cold Storages Pvt. Ltd. at Sonipat have been installed by KOR Energy recently. KOR Energy has used tier 1 modules of Vikram Solar and ABB String Invertors in these projects to ensure maximum yield and performance consistency. The systems installed have the capability of remote monitoring of production with accurate fault recognition and real time performance monitoring.

“India is the world’s second largest producer of horticultural commodities after China. However, around 30 percent of this produce perishes due to lack of adequate cold storage facilities. Cold storages are essential to store food products and to maintain that environment it consumes heavy electricity,” said Director, KOR Energy (India) Pvt. Ltd., Priyanka Mohan.

&T Metro Hyderabad Rail Ltd will be partly powered by solar rooftop installations across its stations and infrastructure coming up along all the three corridors in Hyderabad. It has been permitted to have the advantage of procuring power through the ‘open access’ mechanism. About 64 metro stations will see the installation of solar power (estimated to be about 14 MW), which will partly power the metro and station energy requirements.

CONTRACT AWARDED

‘OPEN ACCESS’

“The life of solar plant in cold storages is more than 25 years. Conventional cold storages cost less that of solar-powered ones but require more grid power which comprises around 20 to 30 percent of their running cost. Rooftop Solar Plants in cold storages not only reduces this cost, but also make a key contribution in moving towards green energy revolution,” added Mohan. With 1400 to 1500 units of electricity produced per Kilowatt, cold storage rooftop solar plant will achieve break even within 4 to 5 years. With 25 years of performance warranty on solar modules, it makes a wise investment decision for cold chains to go solar. “Cold storages have ample roof space where solar system can be installed. Solar PV powered storage system will improve storage quality and reduce wastage of horticulture produce. This project is a part of KOR Energy’s endeavor to promote green energy at cold chains across the state of Haryana. Apart from cold chains, we are also promoting use of solar energy in schools, colleges and across various other industries,” concluded Ms. Mohan.

According to sources, the contract to set up the 14 MW solar power projects has been awarded to renewable energy company Greenko. L&T, which is working roundthe-clock to ensure that all of the 30-km stretch is ready to be commissioned by Prime Minister Narendra Modi during his visit to Hyderabad in the last week of November, is currently undergoing trial runs and awaiting final safety approvals for a segment of the recently completed stretch. Two other stretches of 8 km and 11 km had already received approvals. In tune with the Telangana State policy to offer open access to certain sections of consumers in the State, the metro, which requires about 75 MW of power to meet its requirements, had requested the State to permit it to purchase power through the open access route. A senior official told BusinessLine that the Discom has accorded permission to the metro to take advantage of open access. However, a special tariff of 3.95 has already been offered to the Metro Rail. The open access will enable them to access power when the tariffs outside are lower. This move comes in the backdrop of high power cost prevailing in the State for the Railway Traction, which was about 7 per unit, in 2016. However, the TS Electricity Regulatory Commission, had created a new category of consumer ‘Metro Rail’ on the lines of Delhi, to offer lower tariff. Accordingly, the tariff for Railways as also metro rail was brought down from 7 a unit to 3.95 per unit.

FALL IN TARIFFS

With the power tariffs steadily coming down due to oversupply in the energy exchanges, the metro rail is considering the open access mode to take advantage of lower tariffs ruling in the power exchanges. The Hyderabad Metro Rail Ltd, which is facilitating the implementation of the 72-km elevated metro rail projects, is working on softer side of the infrastructure, including beautification of stations, developing landscape and providing greenery.

Source: ANI

November Part B 2017

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INDIA Roof top & Offgrid

Ultimate Sun Systems adds 500kW capacity to rooftop solar PV plant at the MM College of Engineering, Mullana The expansion to existing 1 MW plant at MM University, Mullana will cause a 14,000+ ton reduction in carbon emissions over the project life of 25+ years

ltimate Sun Systems, an MNRE Channel Partner company and a pioneer in the field of renewable energy solutions, has installed and commissioned a 500kW expansion to the existing 1mW rooftop solar plant at the Maharishi MarkandeshwarEngineering College in Mullana, Ambala. The expansion is a grid-tied rooftop solar PV system, generating 750,000 kWh of electricity every year.This project follows the company’s success in completing the 1mW rooftop solar plant at the MM University. The project has been sanctioned and approved by SECI (Solar Energy Corporation of India), which has provided 30% subsidy to the project.

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Speaking on the achievement, Mr. B.S. Yadav, Managing Director, Ultimate Sun Systems, commented, “After finishing the initial 1 MW plant in only 45 days, we have again surpassed expectations by completing the expansion in only 18 days. The additional 1564 solar panels and the 10 inverters installed at MM College of Engineering, Mullana, will lead to a substantial reduction in carbon emissions, which would be the equivalent of planting over 22,000 teak trees, while substantially reducing the cost of energy. We are proud of our efficiency and technical ability, and how it is being harnessed to provide energy to educational institutions of excellence while making a big contribution in saving the environment. We also greatly appreciate the MMU Chairman’s commitment to reducing carbon emissions, and are excited to partner with a pioneering institution of academic excellence.” Dr. Tarsem Garg, Chairman, MMU, commented, “Ultimate Sun System’s dedication to providing quality, cost effective, and ground-breaking new eco-friendly technology made choosing it for the expansion very easy. The company’s enterprise and efficiency is a testament to its focus on innovation, hard work, and dedication. The team has handled every step of the process – from design to commissioning – and we are extremely happy with the electricity savings from this plant, as well as the reduction in our carbon footprint. Ultimate Sun System’s commitment and attention to detail was greatly appreciated, as was the initiative to conduct training sessions for university staff and students to impress upon them the value of solar power generation technology.”

November Part B 2017

Roof top & Offgrid

Corpn goes green, to set up two 1 MW solar plants at Rs 5.5cr each The city corporation plans to tap solar energy to bring down its electricity bills by setting up two plants of one megawatt capacity each at Ukkadam and Kavundampalayam.

enders for the project were floated recently. The panels will be set up on a 10-acres land at a cost of Rs 5.5cr each, corporation sources said.As per the data available for 2015-2016, the civic body consumes 4.47 million units at its office buildings, 9.16 million units at the sewage treatment plants at Ukkadam and Ondipudur and water treatment and pumping stations at Velliangadu and Pillur. Another 46.37 million units are consumed by streetlights.

The two solar panels are expected to produce 4,000 units each per day. “These two panels will be connected to the electricity board sub-station and the power generated will be transferred to the grid directly. The Tamil Nadu Generation and Distribution Corporation has been informed about the project and they have agreed to support us. The formal papers will be submitted soon,” said Executive Engineer of the West Zone Saravana Kumar.

bout 6,000-6,800 panels, each of which will produced between 300-320 watts, will be installed. As per corporation officials, this was the first time in Tamil Nadu that an urban local body is setting up solar panels to generate electricity. “Most government buildings have such panels. But, setting up huge plants exclusively for power generation will be for the first time,” said a corporation engineer.

s per one of the officials, the corporation pays nearly Rs 1cr for pumping and treatment of drinking water at Pillur and Velliangaadu. Also, another Rs 30 lakh is spent for paying electricity bills of the treatment plants.

“These solar power plants will be connected to the grids and can be used only for high tension (HT) services. So, the power may be transferred to these locations or just adjusted in the bills,” said an official. The project was announced in 2014, but could not be taken up due to funds crunch. Later, it was added in the smart city project. It will be completed within four months once the contractor is finalised, corporation officials added. Source: timesofindia.indiatimes

November Part B 2017

ResponsAbility and Cleantech Solar join forces to increase momentum of rooftop solar energy adoption in South-East Asia and India

responsAbility-managed climate fund and Singapore-based solar energy provider Cleantech Solar have signed an agreement for a USD 20m long-term corporate loan to finance new pan-Asia rooftop solar power plants. Founded in 2014, Cleantech Solar is the leading pan-Asia solar energy provider to commercial and industrial (C&I) customers with a portfolio of more than 50 MWp and 65 sites in India and South-East Asia. Cleantech Solar offers solar-as-a-service solutions by financing, installing, operating and maintaining rooftop solar power plants to corporates. Sustainability has become a key priority for leaders in the corporate sector and onsite solar has become grid-competitive in most countries in the region. These factors further accelerate the transition from conventional to renewable energy. The responsAbility-managed climate fund and Cleantech Solar are joining forces to help pan-Asian companies tackle soaring energy costs and in parallel implement sustainable business practices through the adoption of solar energy.

Cleantech Solar Co-Founder and Executive Chairman Raju Shukla underlined: “We are helping corporates attain their goal of being sustainable and responsible leaders and hedge against volatile power prices. This is what makes our rooftop solar systems such a compelling business case. The longterm funding from the fund will enable us to scale up our operation and drive solar electricity adoption in the region.” Speaking on behalf of responsability, Sameer Tirkar, Senior Investment Officer – Energy Debt Financing, highlighted: “Distributed solar and especially roof-top solar is one of the key focus areas for our energy financing activities. We believe that Cleantech Solar, with its strong management team, pan-regional presence and strong execution track record is an ideal partner for us to scale up our involvement in the distributed solar space in the region.”

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INDIA OPeRATION & MAINTAINENCE

l The new system is directed at addressing the main challenge faced by solar PV plants today: the need to achieve high returns in order to compete against other sources of energy

l With a budget of 650,000 euros, the project is set to launch its first drone-based inspection service in 2018

Ingeteam uses drones for enhanced PV plant performance

ngeteam is involved in a research project focused on optimizing PV plant performance with the use of drones. This new system is directed at meeting the main challenge faced by solar PV plants today: the need to achieve high returns in order to compete against other sources of energy, both renewable and fossil. The first drone-based inspection service is set to be launched in the course of next year. The drone is equipped with in-built sensors, algorithms to detect and classify potential causes of reduced panel performance (damage, soiling or deterioration), other algorithms to provide reliable, robust indicators of the technical and economic performance of the system, and an application to optimize maintenance activities.

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At an operational level, the project will lead to improved panel inspection, shorter measurementtaking and post-processing times, while minimizing operation and maintenance costs and maximizing the service life of the plant.

he project is named SCARAB and is headed by Ingeteam, with the participation of the University of Castilla La Mancha. It is set to be completed by the end of 2019 and has a budget of 648,510 euros, co-financed by the Ministry of Economy and Competitiveness and ERDF funds as part of the Spanish Program for Research, Development and Innovation, directed at meeting the Challenges of Society, within the framework of the Spanish Plan for Scientific

and Technical Investigation and Innovation 2013-2016. At a technical level, the project focuses on the development of new technologies, in two areas. Firstly, the monitoring and processing of signals for the inspection and automatic fault detection in PV panels through the use of more efficient sensors. Secondly, the use of information technologies to develop advanced fault classification algorithms, estimate PV plant status and optimize maintenance strategies.

November Part B 2017

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Technology

Risen Energy’s Half-Cut Cell PV Modules Acquired the Top Runner Certificate and are Getting Ready for Shipment. Recently Risen Energy announced that their new PV product: the HighEfficiency Half-Cut Cell PV Module was the first to acquire the 2017 Top Runner first-class certificate issued by the China Quality Certification Centre (CQC).

In a statement, a Risen Energy spokesperson confirmed: “We are extremely glad to receive this first-class Top Runner certificate. This is a landmark moment for Risen Energy because it is a recognition for our longterm commitment to product quality, improvement in efficiency and many other aspects of our work.”

November Part B 2017

ecently Risen Energy announced that their new PV product: the High-Efficiency Half-Cut Cell PV Module was the first to acquire the 2017 Top Runner first-class certificate issued by the China Quality Certification Centre (CQC). This certificate shows that Risen Energy’s technology has received high approval by a third-party certification agency with a national authority and that the level of the company’s R&D has met the strict standards of the Top Runner certificate. The latest product-the Half-Cut Cell PV Module has achieved a remarkable breakthrough in terms of energy efficiency. One such example is the 72 cell poly half-cell PV module which can have a peak power output of 340-345W. In order to maximize the efficiency and reduce the cost, Risen Energy’s technical team has managed to

add more length to the body of the module while keeping the same width. The design of the back side of the module had been performed in such way so that the internal power loss has been taken down to minimum. This has become possible thanks to the split-type junction box which in the same time enhances the heat dispersion of the product. The first batch of Half-Cut Cell PV modules has been successfully shipped and will be implemented in the construction of the Shanxi Yangquan PV Top Runner project. Meanwhile, the other orders are in the process of manufacturing. Moreover, it is the approval for Risen Energy in pursuit of quality, improvement in efficiency and so on. In the future, Risen Energy will keep focusing on the large-scale implementation of the Half-Cut Cell high-efficiency technology and will continue pushing forward the development of the solar industry so that it can achieve grid parity as soon as possible.”

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Technology

LONGi Solar Achieves a New World Record for PERC Cell Efficiency LONGi Green Energy Technology Co., Ltd. announced today that Fraunhofer ISE CalLab of Germany certified a photovoltaic conversion efficiency of 22.71% on the company’s monocrystalline PERC cell, which is a new world record for this cell type.

s the industry’s leading manufacturer of high efficient monocrystalline products, LONGi has always been committed to the improvement of the monocrystalline technology. Since its founding in 2001, the company has built and relied upon its own R&D capabilities. LONGi continues to lead the industry in scientific advancement and technological innovation, as demonstrated by the company’s progress in the

conversion efficiency of its PERC cell: In 2015, the China top-runner project acquainted users with monocrystalline PERC modules. Since then, PERC’s huge potential has increasingly attracted the industry’s attention. With this breakthrough in PERC cell efficiency, LONGi has confirmed the outstanding power generation capability and broad application prospects of monocrystalline PERC technology.

LONGi Solar’s 100MW pilot cell line achieved maximum efficiency of 22.17% in mass production (certified by CPVT);

At the LONGi Solar improved the efficiency to 22.43%. This recent breakthrough in conversion efficiency is LONGi’s latest and most important technology R&D achievement to-date. It also marks the arrival of a Chinese enterprise as a leading-edge photovoltaic producer. In 2015, the China top-runner project acquainted users with monocrystalline PERC modules. Since then, PERC’s huge potential has increasingly attracted the industry’s attention. With

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this breakthrough in PERC cell efficiency, LONGi has confirmed the outstanding power generation capability and broad application prospects of monocrystalline PERC technology.

Dr. Li Hua, Vice President of Cell R&D of LONGi Solar, said: “Based on large-area, P-type monocrystalline silicon wafer, we are able to employ mass production compatible cell process technology and able to realize a conversion efficiency of 22.71%. This greatly enhances the entire industry’s confidence in P-type monocrystalline cell. With continued R&D optimization, we believe the monocrystalline PERC cell can reach a conversion efficiency of greater than 23.0% in the near future.” LONGi Solar plans to introduce the 22.0% efficient PERC cell technology into the production line at the end of 2017, allowing the company to deliver Top Runner-compliant products with leading edge technical standards. LONGi’s module power rating will achieve 340W-345W for a 60-cell format by 2018. LONGi continues to strengthen its technology platform. In the first half of 2017, it has reinvested over 7% of its revenue back into R&D. This ratio is among the top in the industry. By its keen focus on technological advancements, LONGi aims to make solar a bigger part of the global energy mix.

November Part B 2017

Technology

Half-cell technology to rise and shine in subsidy-less solar business climate Both China’s launching tradable green certificates and Japan’s replacement of its Feed in Tariff (FiT) scheme with an auction mechanism shows that the cost of renewable power generation has become more and more competitive to that of fossil fuels. Solar will continue to survive with less dependency on subsidy in the near future.

t the same time, auctions and bidding could become the primary method in which government selects solar power providers. It’s also most likely that governments will support only developers that have secured grid connection for their projects, to ensure that the approved projects are completed on schedule. In more and more tenders process, we will see the lowest cost provider

win. From developers perspective, in short term, this phenomenon will squeeze the margin of developers, whom will lose government-backed income streams in the form of subsidy. Under these conditions, only developers with strong financing capability, established buying power, and operational excellence in all key step across the entire project development and operation cycle will thrive. These more stringent market conditions will not weaken well-managed developers, but strengthen them as the conditions will push them to get much more efficient, make better investment decisions, and focus on build long-term competitive advantages. For manufacturers, this trend casts new cost pressure

on them. Only those who have a high efficiency product portfolio, scaled up their capacity, realized manufacturing best practices, implemented strong supply chain control, and strong financial health can survive. While the industry will not become a monopoly, we will see intensive clustered around tier 1 companies in place of high industry fragmentation we see now. At the 19th China International Industry Fair (CIIF) that opened on November 7, 2017 in Shanghai, JinkoSolar announced that it achieved a world record P-type mono PERC cell efficiency of 23.45%, breaking the world record cell efficiency of 22.78% that the company set only a month ago in October. .

Due to the currently high production costs and capacity bottlenecks, experts believe half-cell will be the next big thing in cSi solar modules and will bring cSi PV development to its most advanced and lowest cost yet. Kangping Chen, CEO of JinkoSolar said at the CIIF, “One of the main advancements is the increase in half cell technology. Over a traditional full-cell module, half-cell module has an additional 5-10 watt of output with minimal margina cost. The technical and, more importantly, economic feasibility of half cell technology means that we’ll see half-cell modules gain substantial market share. In residential market, half-cell module also has the advantage of increase shade tolerance. With JinkoSolar’s advancements in manufacturing processes, half-cell panels are one of the best solution to address the rise of auctioned based procurements.”

JinkoSolar’s Monocrystalline PERC Solar Cell Efficiency of 23.45% Verified

inkoSolar Holding Co., Ltd., a global leader in the photovoltaic (PV) industry attended the 19th China International Industry Fair (CIIF) that opened in Shanghai today. JinkoSolar, as the world’s largest solar module producer, showcased a suite of “Intelligent Manufacturing” innovations including MES system, smart devices, facility monitoring, smart factory, robotic workstations, quality traceability capabilities, and many more. At CIIF, JinkoSolar also announced that it has broken its own world record for P-type monocrystalline PERC solar cell efficiency by achieving that of 23.45%. The record was independently validated by the Chinese Academy of Sciences’ Photovoltaic and Wind Power System Quality Test Center. This new achievement eclipses JinkoSolar’s

world record breaking P-Type monocrystalline PERC solar cell efficiency of 22.78% that was achieved just last month in October. JinkoSolar’s previous successes clearly did not stop the company’s pursuit of further excellence. Closely adhering to the principles of Industry 4.0 and “Made in China 2025”, JinkoSolar introduced new applications of cutting-edge technology such as IoT devices, intelligent mobile devices, and mobile robots to its manufacturing process. The innovative applications allows JinkoSolar to consolidate data collection, enable yield traceability, improve workflow efficiency, and optimize material transportation, which ultimately allows the company to continuously enhance its fab operating efficiency. Following through with its commitment to manufacturing excellence, JinkoSolar has further integrated functions such

as advanced data analytics, smart diagnostics, self-reporting, and precise forecasting, with its operational knowhow. The integration has revolutionized JinkoSolar’s fab operations from “Automated” to “Intelligent”, allowing the company to achieve greater efficiency, flexibility and quality, maximize cost effectiveness, and accelerate overall innovation. Through agile and intelligent operations, JinkoSolar continues its drive towards manufacturing excellence. The company’s sophisticated agile operation system has integrated demand and capacity modeling, lean manufacturing, and lot dispatching and scheduling to provide short cycle time, stable manufacturing and on-time delivery. The system also provides greater flexibility to quickly support customers’ urgent pull-in requests.

“World records have been shattered again and again at JinkoSolar as the company has broken five world records in cell and module efficiency just this year. Now with assistance of intelligent manufacturing, we can translate these world record learnings into mass production, which will undoubtedly make a big splash in the market.’ commented Kangping Chen, CEO of JinkoSolar,” As the world’s largest solar PV company, JinkoSolar has mastered its physical production processes and products. However, JinkoSolar has not stopped pioneering evident in the successful development and implementation of its own digitalization strategy. Effective introduction and implementation of smart manufacturing will help JinkoSolar further improve its production flows. Excellent technological know-how, manufacturing capacity, and customer loyalty that build on them are the foundation of JinkoSolar current success. Data-driven innovations will be the foundation of its future success.”

November Part B 2017

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Technology

War between Mono-Si and Multi-Si Price Is About to Start: Price Trend Due to the weak demand of mono-crystalline products, mono-si wafer price dropped dramatically while mono-si PV-cell price also dropped. Currently, prices of mono-si and multi-si are almost at the same level. Owing to the sluggish demand on the end market, the price war of the mono-si and multi-si products which is being driven by si-wafers and PV cells is about to start.

POLYSILICON

olysilicon price this week remained stable and didn’t change much. Because downstream si-wafer orders are stable and the overhauls of polysilicon manufacturers are still ongoing, it is expected that polysilicon can maintain its price for a while.

SI-WAFER

ince the end of the Oct. 1 long holiday in China, mono-si PV-cell demand has been weak. To maintain the profits of downstream PV cell manufacturers and strengthen the competitiveness of mono-si PV-cell on the market, two Chinese leading manufacturers of mono-si wafers have lowered their prices this week. The prices of their 180-micron mono-si wafers have decreased by approximately RMB 0.4/pc to RMB 5.65/pc and RMB 5.6/pc respectively. This has encouraged the other mono-si wafer manufacturers to lower their prices. As for multi-si wafer, the overall capacity of diamond wire saw is still tight, making the demand for traditional slurry saw process grow. However, under the impact of decreasing mono-crystalline products’ prices, multi-si wafer suppliers are under increased pressure to lower their price this week.

PV CELL

ith the help of declining mono-si wafer price, the trend of lowering price is being led by leading manufacturers of mono-si PV-cells as well, making the price become similar to multi-si PV-cell price. This puts pressure on both multi-si PV-cell and other mono-si PV-cell manufacturers. This week, the mono-si PV-cell price of the tier-one manufacturers decreased to RMB1.731.77/W, making the other PV cell manufacturers lower the prices to compete later. In terms of high efficiency mono-si PERC PV cell, there has been a larger decline. Due to the slow demand on the high efficiency market, mono-si PERC PV cell has kept accumulating. Because mono-si PERC is profitable, its price continues to drop. Presently, mono-si PERC PV cell price has decreased to RMB 2-2.1/W, and Taiwan-made mono-si PERC price has declined to USD 0.28-0.29/W. Although it is expected to drop next week, the decline will be limited.

MODULE

ith the help of declining PV cell price, both mono-si and multi-si module prices decreased. Currently, price of 270W multi-si module is RMB 2.71-2.75/W and price of mono-si module has become RMB 2.83-2.87/W. Owing to the larger decline of mono-si PV-cell price, prices of mono-si and multi-si module will become closer. Source: pv.energytrend

LONGi Selected into “New China Nifty 50” by Goldman Sachs Recently, the world’s largest investment bank Goldman Sachs selected 50 stocks reflecting the Chinese economy at the new stage, known as the “New China Nifty 50”. LONGi Green Energy Technology Co., Ltd. (SHA: 601012) is the only enterprise selected from the new energy industry.

“Nifty 50” stock should meet three conditions: a net profit growth rate higher than 15%, a rate of return on common stockholders’ equity (ROE) higher than 15% for three consecutive years, and a price to earnings

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ratio (P/E ratio) lower than 35. A “New China Nifty 50” stock should have an even higher growth rate, higher profit and lower financial leverage. LONGi, the world’s largest manufacturer of monocrystalline silicon products, has been acclaimed by the capital market and become the world’s largest photovoltaic manufacturer. LONGi’s stock price trend and potential value reflect the growing demand for monocrystalline PV products stimulated by the growth of distributed PV, the expansion of Top Runner Program, and the development of poverty alleviation photovoltaic projects in the

industry. Facing the fierce competition in the photovoltaic industry, on the one hand, LONGi has been expanding the capacity to address the robust market demand. On the other hand, LONGi has continuously improved the technical level of monocrystalline silicon wafer, cell and module with technology as the core competitiveness, and its monocrystalline product technology has always been in the industry leading position. It is these factors that have made LONGi the only enterprise in the new energy industry which was selected into the “New China Nifty 50” list of Goldman Sachs.

November Part B 2017

energy storage

Alpha-En Corp. Announces Sam Pitrodaas New Chief Executive Officer alpha-En Corporation (OTC: ALPE), an innovative technology company that has developed a patent pending process to produce highly pure lithium metal and associated next-generation batteries, announced that world renowned technology entrepreneur, inventor and policy maker Sam Pitroda will become Chief Executive Officer, effective immediately.

“Sam Pitroda is a great visionary and a dynamic leader; his accomplishments to-date are truly remarkable,” said Jerome Feldman, alpha-En’s founder and Executive Chairman. “Sam is a unique individual and we are confident that he is the right person to take us from where we are today to full commercialization of our technology and products. With his broad expertise and vast contacts, Sam will help us develop both domestic and global markets. We are very fortunate to have Sam leading our company into its next phase. I would like to thank Steve Fludder, our previous Chief Executive Officer, for his contributions and commitment that he has shown. We wish him the best in his next endeavor and are grateful for his continued support in a consulting capacity.”

November Part B 2017

am Pitroda has spent most of his career in global information and communications technology businesses. He is credited with having laid the foundation for India’s telecommunications and technology revolution and is the founder of six technology companies including C-SAM, a leading provider of mobile wallet platforms, which was sold to Mastercard in 2013.

Sam Pitroda served as Advisor to Prime Minister Indira Gandhi of India on Public Information Infrastructure and Innovation and as a Cabinet Minister under Rajiv Gandhi. He served as Chairman of the Smart Grid Task Force, as well as the committees to reform public broadcasting, modernize railroads, deliver e-governance and other developmental activities. He was also the chairman of the National Innovation Council. While Mr. Pitroda will assume the position of Chief Executive Officer of alpha-En immediately, the parties are continuing to work to finalize the formal terms and conditions of Mr. Pitroda’s employment. Pitroda said, “This is a very important and exciting time for alpha-En. alpha-En’s technology is groundbreaking and provides a clear roadmap to

future Li metal and solid state batteries with substantial improvements in size, weight, power, efficiency, charging and overall performance. I look forward to helping alpha-En achieve its full potential to be a global leader in next generation Li metal batteries.” Pitroda added, “I believe that the energy industry has a lot to learn from telecom on privatization, deregulation, decentralization and distributed architecture. Energy and mobility are the real business opportunities for the next decade with a focus on micro cells and micro grids.” Sam holds over 100 patents, has published five books, has more than 20 honorary Doctorate degrees from Universities all over the globe and lectures extensively worldwide.

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energy storage

EPAL Partners with Leclanché and Deltro and Invests ~INR 78 crores in First Utility-scale Canadian Energy Storage Project l Investment to support India’s COP 21 commitment of generating 175GW from

renewable energy by 2022 l Partnership to support e-mobility mission of Government of India l The 28 MW / 14 MWh battery storage system is one of the largest in North America

PAL, a joint venture between Indian state-owned Energy Efficiency Services Limited (EESL) and UKbased EnergyPro Limited (EP), is partnering with leading battery storage solutions provider Leclanché, starting with the investment of ~INR 78 crores in a previously announced and nearly completed advanced battery storage project in Ontario, Canada, known as Basin 1 and 2[1]. The highquality project, built and owned by Leclanché and development partner Deltro Energy, is the first utility scale energy storage facility designed to balance the Ontario power grid, with a total investment of approximately INR 162.5 crores. The battery storage project will provide services to the Independent Energy Systems Operator (IESO) that oversees and manages the power grid of the province of Ontario, and is interconnected to Toronto Hydro, the largest municipal electricity distribution company in Canada. The Ontario power supply has shifted heavily towards intermittent power sources over the past three years creating additional grid management challenges for the IESO. The lithium battery storage project will improve stability on Canada’s largest transmission grid by managing unbalanced supply-demand situations. The partnership has strategic importance from India’s perspective as its government has set a target of achieving 175GW of renewable energy by the year 2022, equivalent to 40 per cent of the country’s energy supply, up from 12 per cent now. This was a part of India’s commitment during COP21. To achieve this target, India’s energy supply will be dependent on intermittent power sources and ancillary services will be required to stabilise the grid. Battery storage will help achieve stabilisation, supply power to charging stations and reduce the substantial Unscheduled Interchange (UI) charges payable by the country’s utilities and states (around ~INR 3000 crores annually).

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Speaking on the occasion, Ambassador Mr. Dinesh K. Patnaik, Acting High Commissioner of India to UK, said, “This partnership marks the beginning of a significant development in the energy efficiency sector. With the ever-increasing energy consumption, technologies like battery storage will go hand in hand with efficiency to balance supply and demand. I am very hopeful that EPAL, with its excellent track record in driving the UJALA (UK Joins Affordable LEDs for All) initiative, will bring a revolution in the market with its advancement into battery storage projects.” Mr Saurabh Kumar, Managing Director, EESL, and Chairman of subsidiary EPAL, said, “We are delighted to partner with Leclanché. It has been our constant endeavor to make futureready technology solutions accessible. With a focus on long, low-carbon initiatives globally, we have partnered with the world’s leading battery storage solution provider. We are confident that this partnership will help bring a new era of clean energy solutions for the world.”

“Working together with EESL on this project has highlighted some unique synergies between the companies,” said Anil Srivastava, Leclanché CEO. “We are exploring many additional ways to integrate Leclanché’s advanced lithium battery solutions into stationary storage systems as well as new mobility applications such as EV charging stations, full-electric buses and urban transportation systems.”

“At EnergyPro we are excited to be working with our JV partner EESL and Leclanché on this significant utility scale energy storage project. We see it as a first step to deploying energy storage solutions at a range of scales, something that will be essential to the energy transition in all economies,” said Steven Fawkes, Managing Partner at EnergyPro Limited.

he Indian government recently launched an ambitious investment programme in new energy, both domestically and overseas, of which the investment in the Leclanché and Deltro Project forms a part. The domestic plans are driven by the government’s target of increasing the contribution of renewables to the country’s energy supply. As part of this, the government has mandated that by 2030 all vehicles on its roads will be electric – the most aggressive such target in the world. Battery storage helps stabilise grids, which is a challenge as they become increasingly dependent on intermittent renewable energy sources. Storage also reduces the operational costs of grids and defers and reduces future infrastructure costs. ntegral to its global programme, in May 2017, the Indian government announced that it would invest INR 132 crores in clean energy initiatives in the UK’s public and private sectors through EPAL. To date, EPAL’s UK initiatives include an affordable LED lighting scheme (UJALA), targeted at social housing associations in London, and the acquisition of two energy savings companies serving seven clients in education and leisure. he global energy storage markets continue to experience very high growth. According to Navigant Research, in the four years to 2020 utility-scale generation and micro grids will experience a Combined Annual Growth Rate (CAGR) of 48 per cent; commercial and industrial battery systems, 58 per cent CAGR; and eTransport, 37 per cent CAGR. Panitek Power AG, headquartered in Switzerland, was the investment adviser on the transaction.

November Part B 2017

electric vehicles

Octillion Power Systems to open EV battery manufacturing facility in India WHILE THE BUZZ AROUND ELECTRIC VEHICLES IS GROWING STRONGER BY THE DAY, SWITCHING TOWARDS CLEANER MOBILITY CANNOT BE A VIABLE SOLUTION WITHOUT INVESTING IN CLEANER ENERGY PRODUCTION.

ctillion Power Systems, the US-based manufacturer of advanced energy storage systems for electric vehicles (EVs) and power grids, today announced its foray into the fast-growing Indian market. The company has set up an office in India with plans to establish an advanced EV battery manufacturing facility at an investment of $15 million. The new factory will be based in Pune, Maharashtra and is expected to add 500 new jobs in the next three years.

November Part B 2017

TESLA FIRES HUNDREDS OVER PERFORMANCE ISSUE

he new company will operate under the name Octillion Power Systems India Private Limited. “Octillion is proud to participate in this effort as India embarks on the most ambitious electric vehicle adoption plan in the world,” Octillion President Paul Beach said. The new EV battery facility will have a production capacity of over 250 Megawatt Hour (MWH). The company has been operating in India since the past two years, working with major Original Equipment Manufacturers (OEMs) in a variety of market segments to establish the core technology required to drive India’s EV revolution.

I have worked in and around the India automotive and lithiumion battery market for over ten years, and the growth I am seeing today is truly unrivalled. Octillion is bringing to India the most advanced cell and battery technologies available and we look forward to being part of this E-mobility revolution,” said Yashodhan Gokhale, General Manager, India operations, Octillion Power Systems.

AUTOMAKERS MAKE PLUG FOR ELECTRIC VANS

aving worked in the market for a couple of years and going through Automotive Research Association of India (ARAI) and UL certifications, Octillion views local production and content for key components such as the battery as necessary to achieving target pricing and to providing timely and reliable customer support to vehicle OEMs. According to Nikhil Parchure, Octillion has been “working very hard in India for the past few years to deploy prototypes and validation vehicles with our OEM partners. We now see a large inflection coming where EVs are going to see a rapid adoption as the country pushes to revolutionize the transportation and electric grid market.”

TESLA FIRES HUNDREDS OVER PERFORMANCE ISSUE

s India expands its renewable energy production portfolio and readies itself for large deployments of EVs, Octillion is also willing to offer battery systems that support the grid. With large MWH size deployments around the world, Octillion is prepared to produce batteries for these markets as well. Source: auto.economictimes.indiatimes

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electric vehicles

EVgo Announces Mobile App Empo wering Drivers To DC Fast Charge With Just The Swipe Of A Finger

Vgo, the nation’s largest public electric vehicle (EV) fast charging network, today announced the release of its new EVgo Mobile App for iOS and Android devices, providing EV drivers with convenient, simple use of its network of over 980 DC Fast chargers across the country. The app is the latest enhancement EVgo is introducing through its partnership and collaboration with technology solutions provider, Driivz. EVgo is committed to making EV driving as easy as possible and is constantly improving customer experience. The new EVgo mobile app simplifies electric vehicle charging by enabling EV drivers to find and navigate to their closest charging station, check charger availability and start a charging session without carrying around an access card. The new swipe to charge feature is incredibly convenient. The app also provides drivers with a quick and easy method for tracking their charging session time. EVgo’s DC Fast chargers are capable of charging approximately 150 miles of range per hour. When combined with other charging options, such as home chargers, EVgo’s chargers offer EV drivers a no-compromise lifestyle. Additionally, because EVgo owns and operates its fast charging stations it provides a superior and consistent charging experience for drivers.

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“SWIPE TO CHARGE” ON THE LARGEST EV FAST CHARGING NETWORK IN THE COUNTRY. HIGHLIGHTED FEATURES OF THE EVGO APP INCLUDE: • Card-free charging: initiate a session with a single swipe to the right • Robust mapping functionality to find the closest EVgo station (or anywhere) • Real-time charger status: track charging time and filter for currently available chargers—Turnby-turn directions compatible with all leading navigation apps

• Set an alert for when an in-use charger becomes available • Filtering options that enable users to only see chargers compatible with their car • A charging timer to remotely monitor charge duration • Save favorite charging spots and easily access recently visited stations • Easy access to charging and billing history

EV’s are continuing to gain widespread adoption and the sales of EVs are becoming a larger percentage of overall car sales,” said Dave Schembri, CEO of EVgo. “EVgo is already providing a customer experience that makes EV ownership easy and the addition of new tools, such as the EVgo app, will allow EVgo to deliver the highest quality customer experience to the growing number of EV drivers hitting the road. In addition to the release of the app, EVgo added a web-based driver portal, with Driivz, which works seamlessly with the smartphone app and allows customers to review their charging history and plans, as well as update their information. EQ

November Part B 2017

electric vehicles

Centre offers Rs 105 crore grant for EVs to Smart Cities with over a million residents The government of India has invited proposals from cities with population above a million for extending grants under the FAME India scheme to promote large-scale adoption of electric vehicles (EVs) in multi-modal public transport. Using clean energy modes like electric vehicles for shared mass transport will help bring down high pollution level in big cities.

A 40Â

n Expression of Interest floated by the Heavy Industries Ministry has invited proposals from state government departments, undertakings and municipal corporations for availing incentives to procure electric buses, electric four- wheelers, passenger cars and electric three-wheelers.

November Part B 2017

â&#x20AC;&#x153;The Expression of Interest is for a pilot project under the FAME India Scheme, specifically designed to give a push to electric vehicles in multi-modal public transport,â&#x20AC;? a senior government official told PTI. Funds amounting to not more than Rs 105 crore will be provided to each selected city having population of above 10 lakh (as per 2011 census) in the current financial year 2017-18 for electric buses (maximum 100 per city), electric passenger cars and electric three-wheelers. In addition to the monetary grant of up to Rs 105 crore per city, funds will also be provided for setting up of charging infrastructure in the selected cities with a ceiling of Rs 15 crore per city. The proposals will be selected based on parameters like the population of a city, its average pollution level, the number of vehicles registered, ranking in Swachhata Abhiyan

and whether it is among the proposed Smart Cities. The funding will be available only to those electric buses, electric four-wheelers, passenger cars and electric three-wheelers that run on new-generation batteries without lead such as lithium polymer, lithium iron phosphate, nickel metal hydride, zinc air. Demand incentives will also be extended to Special Category States and for providing requisite charging infrastructure for such e-vehicles. The demand incentive is available to buyers including end users and consumers in the form of an upfront reduced price to enable wider adoption, under the FAME India Scheme.

Source: PTI

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ELECTRIC VEHICLES

ABB boosts Icela-nd’s electric vehicle infrastruc ture with 15 new fast chargers ABB has won a public sector tender from Reykjavik Energy for the delivery of 15 fast chargers. The fast chargers will boost the country’s charging infrastructure for electric vehicles and will all be commissioned by the end of 2017

N Power, a part of Reykjavik Energy, has signed a contract with ABB for the delivery and installation of 15 Terra multi-standard DC chargers type 53 CJG at various points along Iceland’s main highway. The order has come into place through ABB’s channel partner, Johan Rönning. Today there are over 1,400 electric vehicles on the road in Iceland. This is partly due to a state-financed incentive program, which supports the purchase of electric vehicles. The tender for fast chargers is part of the country’s campaign to promote and expand Iceland’s e-mobility strategy by increasing the availability of flexible and robust charging stations along central locations of the national highway across the entire country. The specified fast charger can charge an electric vehicle in just 15-30 minutes, featuring easy to read touch screen displays and graphic visualization together with low operational noise. All chargers can be combined with comprehensive solutions for user authorization, payment and network connectivity.

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“Iceland is a progressive country, which introduces new energy standards and makes use of the country’s sustainable energy resources to support its infrastructure,” says Frank Muehlon, Head of ABB’s Global Business for Electric Vehicle Charging Infrastructure. “The advantages with this type of fast charger can be found in the multi-protocol design, which supports cloud-based technology. This gives ON Power access to real time data for the remote control and proactive control of the operation and technical status of the charging stations. This gives a fully flexible overview of the entire charging network,” he says, adding that the system is fully functional right down to temperatures of minus 35 degrees.

Johan Rönning’s Sales Director, Óskar Gústavsson, said: “We have had an excellent collaboration with ABB for many years, which has led to us winning this project. We are happy to assist in transforming Iceland’s transport sector into a more sustainable system.” ON Power’s business development manager, Jón Sigurðsson added: “We have chosen to invest in fast charger technology as part of our role in the green transformation of Iceland. Iceland’s electricity production is primarily based on sustainable energy. This is why it makes perfect sense for the transport sector to be a part of the electrification process.

“ON Power is a leading electricity company, and it was important for us to find a supplier that would enable us to future-proof the charging network. The range of the Terra53 CJG enables this, and via its open industry standards, also gives full flexibility with online remote access.” ABB has delivered fast charger solutions as part of its contribution to promoting sustainable mobility since 2010 and has sold more than 5,000 e-vehicle fast chargers globally.

November Part B 2017

electric vehicles

Blue Bird Unveils All-New, Electric-Powered Type C School Bus at NAPT Conference Blue Bird Corporation unveiled its all-new Blue Bird Vision Electric Type C school bus at the NAPT conference in Columbus, OH. The electric power train is supplied by ADOMANI (ADOM), with drivetrain and vehicle control software developed and produced by their technology partner, Efficient Drivetrains, Inc. (EDI).

he latest in the lineup of Blue Bird electric buses integrates the ADOMANI/EDI drivetrain and vehicle control software and telematics, delivering zero-emissions driving with outstanding vehicle performance and torque. Blue Bird’s all-new Type C bus features up to 100 miles of electric range, with a full charge time of under 8 hours by utilizing a Type 2 charger and a battery capacity of 150kWh. This announcement follows a recent unveil of Blue Bird’s Type D All American Rear-Engine Electric school bus at the STN tradeshow in July 2017, powered by the same ADOMANI/EDI partnership. “We are excited to reveal our latest alternative-fuel option for the school bus market in 2018,” said Phil Horlock, president and CEO of Blue Bird Corporation. “We want to offer the broadest range of school bus products in the market and take pride in leading the industry in propane and gasoline-powered school buses. Electric-power is the next step on our journey, and our exclusive partnership with ADOMANI/EDI will bring both Type C and Type D electric buses to our customers next year. Blue Bird strives to be first to market in offering customers smart, innovative and affordable solutions that they want and value.”

The electric drivetrain technology used in Blue Bird’s Vision and All American RE Electric vehicles has already been proven on the road in over 2.5 million miles of driving. Further, Blue Bird pioneered its first electric bus in 1994 for a Southern California demonstration project and has extensive on-road experience. This experience enabled Blue Bird to secure a $4.4M Department of Energy grant earlier this year to develop a Vision Type C electricpowered bus, with full Vehicle to Grid (V2G) functionality. In partnership with ADOMANI/ EDI, Blue Bird will deliver these products.

“The drivetrain has a proven track record of success in EV applications, and has performed extremely well in multiple testing scenarios,” said Jim Reynolds, president and CEO of ADOMANI. “Add that to Blue Bird’s proven, safety-driven bus design, and you won’t find a better EV bus product out there.”

“The ride and drive feedback has been outstanding,” said Mark Terry, Blue Bird’s chief commercial officer. Customers love the quiet ride and the proven drivetrain solution: many are already looking at placing orders as soon as the bus becomes available.”

November Part B 2017

Prior to the unveiling at NAPT, Blue Bird hosted an “Electric Ride-and-Drive” event at the NAPT Convention, with over 100 school district representatives in attendance. It featured their recently unveiled Blue Bird All American RE Electric bus and customer response was outstanding.

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MIDDLE EAST AND AFRICA

Jinko Solar Says Abu Dhabi Project on Track to Start in 2019 The world’s biggest photovoltaic solar plant is set to start operating by April 2019, a managing director of China’s Jinko Solar Holding Co. said. he 1.2-gigawatt project in Abu Dhabi is “well on track and on schedule,” Mothana Qteishat, Jinko Solar’s managing director for project development in the Middle East and North Africa, said at the Routes to China Summit organized by Bloomberg LP and sponsored by HSBC Holdings Plc. The project is being developed by Jinko Solar and Japan’s Marubeni Corp., with each company holding a 20 percent share, he said. Government-owned Abu Dhabi Water & Electricity Authority received a then record-low bid of 2.42 cents a kilowatt-hour for power from the planned facility.

Prices for solar projects in the Middle East have set successive records with first Dubai and then Abu Dhabi coming in with all-time low power pricing.

Mothana Qteishat, Managing Director Project Development (Middle East and North Africa )

Jinko Solar

“What we have done will attract other Chinese investors” to the region, Qteishat said in an interview. There is room for solar power prices to fall even more.

Saudi Arabia has received the world’s cheapest offer for supply of solar power. Electricite de France SA and Abu Dhabi’s Masdar made a joint bid to provide electricity for as little as 1.79 cents a kilowatt hour, the Saudi energy ministry said in October. A combination of improving and less costly technology, free land earmarked for the plants, connections to national power grids and favorable financing have helped cut the costs. Nations are investing in solar and wind energy to cut down on pollution from fossil fuels and to take advantage of reduced costs. In the Middle East, there is the added incentive to produce more alternative energy for domestic use and export more crude oil. Saudi Arabia plans to develop 30 solar and wind projects over the next 10 years as part of a $50 billion program to boost power Source: Bloomberg generation.

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November Part B 2017

BUSINESS AND FINANCE

Sterling and Wilson Expands Its Solar EPC Footprint in Australia Sterling and Wilson, one of the dominant global forces in the solar-PV space, has further strengthened its global presence with the recent announcement of expansion into Australia market.

T South Korea may consider filing WTO complaint over U.S. solar tariffs SEOUL – South Korea’s trade ministry said it may consider filing a complaint with the World Trade Organization (WTO) in response to U.S. solar panel import restrictions. he country’s trade ministry said in a statement that it will take all available measures and weigh the possibility of taking the case to the WTO once a detailed report from the U.S. International Trade Commission (ITC) is released on Nov. 13. The move came as the ITC on Tuesday made three different recommendations for restricting solar cell and panel imports including an immediate 35 percent tariff on all imported panels. The United States has been keen to address trade imbalances and protect U.S. manufacturers against cheaper imported goods such as steel and autos, coming into the U.S. market. Last year, South Korean solar power equipment manufacturers including Hanwha Q CELLS Co Ltd (HQCL.O) exported about $1.3 billion worth of solar cells and modules to the United States, making up 15.6 percent of the U.S. solar market, a trade ministry official said citing ministry data.

he company plans to construct 500 MW in the coming three years. These projects would attract an investment of AUD 600 million. The target is expected to reduce carbon emissions by approximately 750,000 tons annually. This would generate an employment for more than 750 personnel during course of project construction. Sterling and Wilson, actively present in Australia since 2015, has been offering Diesel Generators and Cogeneration solutions through its office in Perth. It has recently opened an office in Brisbane, specifically to cater to the vast potential Solar market in Australia.

Bikesh Ogra, CEORenewable Energy, Sterling and Wilson, said, “Australia is witnessing a solar boom, as the country has had a phenomenal year with respect to large scale solar projects. The solar industry has also seen a sharp decline in costs, and is seen as a pivotal force to help the country achieve its renewable energy targets by 2020. We are definitely excited to be a part of this transformational journey and aid in realising its potential to transition to a future of sustainable and renewable energy. As a truly global solar EPC company with experience across geographies, we not only want to bring our best practices to the industry, but also learn alongside our peers to attain our target of 500 MW’s installations.”

Sterling and Wilson has now grown to be the world’s largest solar EPC player outside USA and China. It has to its credit more than 1930 MW of best performing solar power plants in various geographies including India, Philippines and South Africa. Currently it is constructing 1177 MW Solar PV plant in Abu Dhabi, the world’s Largest single location plant, and a number of projects in Zambia, Niger and Morocco. It is a powerhouse of more than 4500 qualified engineers, project managers and designers. As the acceleration of growth in the energy sector has increased worldwide, Sterling and Wilson has ventured into the wind and energy storage sectors, covering the entire canvas in the renewable sector. Backed by its robust resources in Engineering, project management and strong global procurement network, the company is fully geared to deliver more than -

2000 MW EVERY YEAR.

Source: Reuters

November Part B 2017

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BUSINESS AND FINANCE

Edelweiss group targets $1 billion corpus for infrastructure fund Edelweiss group’s infrastructure fund will look at owning only operating assets in three sectors—roads, transmission and renewable energy.

he Edelweiss group is raising its first infrastructure fund, targeting a corpus of at least $1 billion, its largest alternative asset fund till date, said three people aware of the development. The group, through its various entities, manages several alternative investment funds such as credit funds, real estate funds and a distressed assets fund.

“Edelweiss plans to raise its first infrastructure fund and is targeting to raise at least $1 billion for it. The group has initiated preliminary discussions with investors and is currently also busy with setting up the team to manage the platform,” said one of the two people cited above, requesting anonymity as he is not authorized to speak with the media.

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Edelweiss will start full-fledged marketing road shows for the fund raise by the end of December or early January, he said, adding that it expects to have the investment team in place by December.

yield generating opportunities and hence, there is a strong demand for platforms like these,” he added. InvITs are trusts that manage incomegenerating infrastructure assets, typically offering investors regular yield and a liquid method of investing in infrastructure projects. An email sent to Edelweiss group on Tuesday evening was not answered till press time. The proposed Edelweiss infrastructure fund will be just the third major infrastructure-focused fund to be raised by a domestic institution in India in the last several years. In September 2016, Tata Power Co. Ltd partnered with ICICI Venture Funds Management Co. Ltd to create a platform company to invest up to $850 million in power projects in India over two-three years. Earlier in 2014, IDFC Alternatives Ltd, the private equity arm of IDFC Ltd, raised its second infrastructure fund, India Infrastructure Fund II, with a corpus of $900 million. Other infrastructure-focused funds active in India include global infrastructure fund I Squared Capital, founded by former Morgan Stanley senior executives and Australia’s Macquarie Infrastructure and Real Assets (MIRA). In August, Reuters reported that I Squared Capital is raising its second infrastructure fund of up to $6.5 billion. I Squared’s investments in India include roads platform Cube Highways and Infrastructure and distributed renewable energy company Amplus Energy Solutions. Last year, MIRA, part of the asset management arm of Macquarie Group, raised $3.1 billion to invest in infrastructure companies in Asia, including India. In September, The Economic Times reported that Morgan Stanley is set to make a first close of $400-500 million for its maiden $1-billion India-dedicated infra-

“The firm will target a first close of around $300-400 million and a final close of at least a billion dollars. Funds will be raised from both domestic and overseas institutional investors and to a small extent from high net-worth individuals,” the first person said. According to the second person cited above, the fund will look at owning only operating assets in three sectors—roads, transmission and renewable energy. He too requested anonymity. “One of the ways they will look at exiting these assets is through the InvIT (infrastructure investment trust) route, which will also result in providing enhanced yields to investors. In India as well as across the globe, investors are looking for higher

structure fund. Other Edelweiss funds include a $350 million credit-focused fund Edelweiss Special Opportunities Fund (ESOF) II, its second such fund, which achieved its final close in April and a real estate fund.Edelweiss in 2016 tied up with Caisse de Dépôt et Placement du Québec (CDPQ), the second-largest pension fund in Canada, to invest approximately $750 million in stressed assets and specialized corporate credit in India. Source: livemint

November Part B 2017

BUSINESS AND FINANCE

$25.38/MWh bid sets new record low for 24/7 block mixing wind and solar at Chile Tender Santiago – Verano Capital, an American project developer headquartered in Santiago, announced that the 47 MW solar project they initially developed was selected in Chile’s latest energy tender with a winning bid at $25.38/ MWh, the lowest 24/7 block price combining solar and wind ever recorded in the history of energy tenders.

he winning bid was offered by a solar project which will be coupled with wind projects to offer a 24/7 supply over a 20-year period. Dylan Rudney, CEO of Verano Capital, who originally designed and developed the solar project before partnering with the fund who eventually took the project to bid, expressed his satisfaction with the results of the tender.

“It was an extremely competitive tender. Contracts were awarded at an average price of $32.50/ MWh, which represents a 75% drop from the peak of $130/MWh reached in the 2013 tenders. These are the lowest renewable energy prices we have ever seen on a 24/7 energy auction anywhere in the world. This will be most directly beneficial to Chilean energy consumers, but it also underpins the changing trend in the energy industry, where conventional energy sources are no longer able to compete with increasingly low renewable energy costs.”

November Part B 2017

Dylan Rudney CEO Verano Capital

V V

erano Capital, whose core business is to offer turnkey development, EPC, O&M, and asset management services to investment funds, has ambitious growth plans going forward. erano is the leader in the PMGD* development market in Chile, with five operating utility-scale projects and five more to be commissioned in 2017. In addition, the company has over twenty projects seeking equity under development, representing a 150 MW pipeline to be commissioned over the next 18 months.

erano, which currently has offices in Chile, Argentina and the US, is set to expand to Colombia this year. It also submitted a project totalling 100 MW in Argentina’s upcoming renewable energy tender, whose results are awaited this month.

“Our plan is to continue to strengthen our position in the booming Latin American renewable energy sector. Our broad range of in-house capabilities enables us to deliver complete projects, from early stage development all the way through to operation and maintenance. This is a key advantage, especially when combined with the in-depth market knowledge we have acquired over the years,” Rudney concluded. www.EQMagPro.com

BUSINESS & FINANCE

Octopus Investments increases solar portfolio financing

Indus, CAM advise on Azure Power’s $30.5m debt financing from Dutch bank FMO

Octopus Investments has increased its solar financing to 564 million pounds ($741 million) and added new assets to its portfolio, the British fund management company said.

ctopus Investments is part of the Octopus Group which manages more than 7 billion pounds of funds. Octopus Investments invests in solar, wind, biogas, biomass, landfill gas, and reserve power assets. It says it is the largest commercial solar in investor in Europe. Earlier this year, it closed its 484 million pound solar portfolio refinancing, but said it has now added 80 million pounds of new financing from nine banks. It has added 100 megawatts (MW) of solar assets to its portfolio, bringing the total to 622 MW, it said. The new financing came from a syndicate which includes AIB, Barclays, BNP Paribas, CaixaBank, Banca IMI , The Royal Bank of Scotland, Sabadell , Santander Global Corporate Banking and SMBC. ($1 = 0.7604 pounds)

Dutch development bank, FMO has raised close to Rs 200 crore (approximately $30.5 million) in debt through subscription of non-convertible debentures issued by renewable energy firm Azure Power India, as reported by Mint.

he Indus Law team advised the Dutch development finance institution FMO in the transaction documentation, due diligence and regulatory advice, led by partner Ran Chakrabarti along with principal associates Jinni Sinha and Ray Vikram Nath and associates Chitvan Bakshi, Niyati Bhatt and Aayush Sood. Cyril Amarchand Mangaldas advised and acted for Azure Power, led by partner Ajay Sawney.

Azure Power is a leading independent power producer and developer of solar energy projects, with over 30 operational utility-scale projects across the country. The objective of FMO’s financing is to fund the development and construction by Azure Power towards new solar projects in India, which will help alleviate India’s dependence on fossil fuels and expand its growing solar project portfolio of over 1 GW across 18 states in India. Source: legallyindia

Source: Reuters

HSBC makes $100 billion sustainable financing pledge HSBC has announced it will provide $100 billion in “sustainable financing and investment” by the year 2025.

n a statement Monday, the banking giant said its pledge was one of five new commitments to support what it described as “the transition to a low-carbon economy.” In addition to the $100 billion in financing HSBC said it would, among

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other things, source all of its electricity from renewable sources by 2030 and cut its exposure to thermal coal. The bank also pledged to both “lead and shape” the debate surrounding sustainable finance and investment. “The $100 billion commitment that we are announcing today acknowledges the scale of the challenge in making a transition to a low-carbon future,” Stuart Gulliver, group chief executive, said in a statement. “We are committed to being a leading global partner to

the public and private sectors as they make that transition.” HSBC said that in the past year it had managed to cut both water use and carbon emissions by 9 percent respectively, while energy consumption had fallen by 13 percent. It is not the only bank looking to boost its green credentials. Earlier this year, JPMorgan Chase said it would “facilitate $200 billion in clean financing through 2025.” The bank also said it would be 100 percent reliant on renewables by 2020. Both HSBC and JPMorgan Chase are members of the RE100, a group of global businesses committed to 100 percent renewable power. Source : hitc

November Part B 2017

BUSINESS & FINANCE

Gensol eyes 10% share in SCADA services market by 2018-end

Union Bank of India approves Indosolar’s proposal for one time debt settlement

Riding high on the growing demand for remote monitoring of solar plants, operation and maintenance service provider Gensol is eyeing at least 10 per cent share in the supervisory control and data acquisition (SCADA) services market in this sector by 2018-end.

“Currently, we are present in the design, engineering, operation and maintenance sides of solar plants. But now we want to move a step ahead by providing our own developed SCADA system making us the complete services provider in the O&M segment,” company’s Director Anmol Jaggi told PTI here.

CADA is a control system architecture that uses computers, networked data communications and graphical user interfaces for high-level process supervisory management. Jaggi said the company has provided its design and engineering services to both domestic and international firms for around 6500 MW of projects. Gensol with its Spanish JV partner, Solarig, offers dedicated solar operation and maintenance services for almost 776 MW of projects. “Currently, we are providing our SCADA system to two clients whom we are providing our O&M services as well. We want to expand our reach in the SCADA business by reaching out to our clients and asking them to use our in-house built system. Since we are maintaining their plants, we hope they will also use our system,” he said. Jaggi further said that given the growing confidence in our services and the nearly 7,000-8,000 MW being added every year, the company is sure it will be able to have a 10 per cent share or provide our SCADA systems for at least 2,000 MW of projects by 2018-end. “Our Spanish JV partner is also planning to pick up a significant stake in the SCADA business. We think we will attain this target much before the timeline,” Jaggi added. When asked about its revenue expectation, he said the company is likely to touch Rs 100 crore this fiscal and expects 30-40 per cent rise in fiscal 2019. “Our design and manufacturing business contributes nearly 70 per cent of the total revenues while the O&M is around 30 per cent. SCADA is very miniscule today, but we are confident that this business will also grow and contribute nearly 10-15 per cent of the revenues by next year,” he added.

“Union Bank of India has approved our proposal for One Time Settlement ‘OTS’,” Indosolar Ltd said in a BSE filing.

Solar equipment maker Indosolar today said Union Bank of India has approved its proposal for one time settlement of debt. “Union Bank of India has approved our proposal for One Time Settlement ‘OTS’,” Indosolar Ltd said in a BSE filing .

ccording to the statement, the proposal has two components — serviceable debt and non-serviceable debt. Serviceable debt shall be paid within six years and last installment will be due on or before March 31, 2024. Non-serviceable debt shall be converted into optionally convertible cumulative redeemable preference shares ‘OCCRPS’ and shall be redeemed within four years starting from the date April 1, 2024, it added.

Source: PTI

November Part B 2017

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BUSINESS & FINANCE

GLOBAL INFRASTRUCTURE PARTNERS ACQUIRES EQUIS ENERGY FOR USD5.0 BILLION IN RECORD RENEWABLE ENERGY GENERATION ACQUISITION

David Russell, CEO of Equis and Chairman of Equis Energy said, “The investment by GIP and its partners is exciting news for the development of renewable energy in the Asia-Pacific. GIP has a strong track record of managing and growing utility-scale infrastructure businesses, and the combination of experience and knowledge across GIP and the existing management team will allow Equis Energy to continue xpanding competitively across its target markets.”

Equis Pte. Ltd and Global Infrastructure Partners (GIP) announced the execution of binding documentation for the sale of 100% of Equis Energy for USD5.0 billion

ncluding assumed liabilities of USD1.3bn in cash to GIP and co-investors. The transaction is subject to customary regulatory approvals and is expected to close in the first quarter of 2018. Headquartered in Singapore, Equis Energy

is the largest renewable energy independent power producer (IPP) in the AsiaPacific region, with over 180 assets comprising 11,135MW in operation, construction and development across Australia, Japan, India, Indonesia, the Philippines and Thailand.

The transaction is the largest renewable energy generation acquisition in history and positions GIP as a dominant renewable energy developer in the key OECD growth markets of Australia and Japan, as well as across India and South-East Asia.

Adebayo Ogunlesi, Chairman and Managing Partner of Global Infrastructure Partners said, “We are excited by the new investment in Equis Energy, which is a strong fit with GIP’s global renewable investment strategy. Equis Energy is a unique success story in the APAC region as it has systematically executed its growth strategy since its founding 5 years ago. In that period, Equis Energy has become one of the leading renewable energy platforms in the region, with a best-in-class business model, a igh-quality asset portfolio and an outstanding management team. We look forward to continuing the Equis Energy success story in the years to come and to supporting new growth opportunities in one of the most promising renewable energy markets in the world.”

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November Part B 2017

BUSINESS & FINANCE

Big Oil Is Investing Billions to Gain a Foothold in Clean Energy OIL MAJORS HAVE SPENT $6.2 BILLION TO ACQUIRE STAKES IN FIRMS INTEREST SHIFTED AWAY FROM BIOFUELS AND TOWARD DIGITAL ENERGY The world’s biggest oil companies are closing more clean energy deals as pressure to diversify their businesses mounts and growth accelerates among green technologies.

il majors more than doubled the number of acquisitions, project investments and venture capital stakes, to 44 in 2016 from 21 the year before, according to research published Tuesday by Bloomberg New Energy Finance. In the last 15 years, they’ve completed 428 transactions and spent $6.2 billion building stakes in clean energy companies.

November Part B 2017

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BUSINESS & FINANCE

“This reflects their underpinning strategy to test out new ideas and businesses,” said

Richard Chatterton, one of the London-based analysts

o be sure, the sums expended on clean energy still represent a fraction of the money invested in crude every year, showing that the oil majors are still very much focused on their core business. Royal Dutch Shell Plc, for example, budgeted $25 billion this year for capital expenditures. Some of the investments by oil majors in projects and startups isn’t disclosed, according to BNEF, which estimates that the clean energy industry attracted almost $290 billion in 2016.

that authored the report. “The international oil companies are identifying opportunities and building expertise, and when a commercial opportunity becomes clear, they will invest at scale.”

olar energy generated the largest number of projects backed by oil companies. Wind created the second-highest volume of deals, with offshore wind investments beginning to catch up with windmills stationed on land. Oil companies have been looking to leverage their knowhow in extracting fossil fuels from seabeds to install turbines in similarly harsh climates. ind projects offshore also tend to be some of the largest-scale and riskiest in the renewable energy industry, leading to higher profitability. Shell has a stake in the Borssele III and IV wind projects in the Dutch North Sea and Statoil ASA developed the world’s first floating wind farm off the coast of northern Scotland.

nterest in biofuels is on the decline, the data showed. It peaked when oil prices were high, fueling motivation to find alternatives. After the oil price crash that began in the middle of 2014, investment has flowed out of the sector. Deal count was zero in 2017.

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November Part B 2017

BUSINESS & FINANCE

otal SA has concluded the highest number of acquisitions and joint ventures with clean energy companies, buoyed by its purchases of a majority stake in SunPower Corp. in 2011 and battery maker Saft Groupe SA last year. Europe’s second-largest oil and gas producer is also active in the venture capital space, with a focus on companies in the U.S.

il majors’ venture capital deals have been shifting toward power storage and digital technologies. Advanced mobility may also be emerging, as companies seek to evolve as more transportation eschews gas for electricity. Shell recently bought NewMotion, an electric vehicle charging point network.

November Part B 2017

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SOLAR Inverters

Huawei Inverters: The Perfect Anti-PID Solution Potential induced degradation (PID) is a phenomenon that has recently become a major concern in the phtovoltaic industry. PID impacts the ions of a solar cell and results in the degradation of the output of that cell.

fter PV modules are used ona large scale for a period of time, the power efficiency of the PV modules may be attenuated, which reduces the output power of the entire PV system. In some cases, power losses at the module level as high as 70% in the first 18 months. Starting on a module level, the losses can progress rapidly and affect the performance of an entire system.

Traditional AntiPIDolution : A Risk to Life and Property

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he occurrence of PID depends primarily on the electrical configuration of the system but other parameters such as system voltage, temperature, humidity and irradiance are factors contributing to the occurrence of PID. Researches have shown that the high voltage between the circuit in the crystalline silicon PV modules and the grounding metal frame results in potential performance attenuation of the PV modules, which is called potential induced degradation (PID) in the industry. PID in the crystalline silicon solar cell was first found in 2005. In 2008, Evergreen reported that PID occurs in the P-type solar cell module in the case of a high negative bias.

To prevent PIDeffects, a traditional solution is that the input PV- is grounded via a fuse or breaker. Due to this, a high voltage builds up between PV+ and PE with the usual fuse rating being above 5A. If someone touches PV+ accidentally, the large current may cause human injury or even death. Moreover, this cannot be avoided by any additional device.In addition to this, the grounding fault of the PV+ or cable generates faulty current or arc by using grounding wires, which gives rise to apotential fire hazard.

November Part B 2017

53Â

SOLAR Inverters

Huawei’s Anti PID Solution: Safe and Secure So how do Huawei inverters offer a unique and safe solution to the PID problem? First of all, Huawei Smart PV Solution is a floating ground system on the LV side and PV- isn’t connected to the ground. This Huawei Smart PV Solution integrated with anti-PID modules offer the ideal anti-PIDsolution, neutralizing the above risks. Let’s see how. In orderto prevent the PID issue, Huawei applies advanced

anti-PIDmodule with anti-PID kits developed by Huawei. When the inverters are underoperating, the neutral point voltage of inverter BUS capacitance, the neutral voltage of the string and voltage from N side of AC to the ground are the same. When voltage from N side of AC to the ground is raised, the neutral voltage of the string is also equally raised. So Huawei anti-PIDmodulemakes sure that

the voltage between PV- and ground beyond 0 V efficiently prevent PID effects. Furthermore, because the PV- of DC side doesn’t connect to ground, there is no risk when someone touches the modules. Also, Huawei string inverter has residual current detecting circuit that can detect leakage current bigger than 30mA, and can cut the circuit immediately to ensure human safety.

Figure 1 and 2 show the inverter's real-time voltage to ground in the 50 MW PV plant in Kamareedy, India, manifesting the exceptional performance of the Huawei Anti-PID solution.

November Part B 2017

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SOLAR Inverters

Huawei Anti-PID Solution: A Global Success Today, Huawei anti-PID technology has been accepted globally and is used by leading developers across continents. The Huawei Smart PV Solution is being widely used in many projects in Europe, US, China, India, East South Asia, etc. and is fast becoming the most preferred choice as a perfect anti-PID solution.

Figure 1 Inverters' voltage of PV- to ground on 21/09/2017

6:50:00 7:10:00 7:30:00 7:50:00 8:10:00 8:30:00 8:50:00 9:10:00 9:30:00 9:50:00 10:10:00 10:30:00 10:50:00 11:10:00 11:30:00 11:50:00 12:10:00 12:30:00 12:50:00 13:10:00 13:30:00 13:50:00 14:10:00 14:30:00 14:50:00 15:10:00 15:30:00 15:50:00 16:10:00 16:30:00 16:50:00 17:10:00 17:30:00 17:50:00 18:10:00

80 70 60 50 40 30 20 10 0

(PV-)-to-ground potential of inverter 1

(PV-)-to-ground potential of inverter 2

(PV-)-to-ground potential of inverter 3

(PV-)-to-ground potential of inverter 4

(PV-)-to-ground potential of inverter 5

Figure 2 Inverters' voltage of PV- to ground on 22/09/2017 80 70 60 50 40 30 20 10 6:05:00 6:15:00 6:25:00 6:35:00 6:45:00 6:55:00 7:05:00 7:15:00 7:25:00 7:35:00 7:45:00 7:55:00 8:05:00 8:15:00 8:25:00 8:35:00 8:45:00 8:55:00 9:05:00 9:15:00 9:25:00 9:35:00 9:45:00 9:55:00 10:05:00 10:15:00 10:25:00 10:35:00 10:45:00 10:55:00 11:05:00

(PV-)-to-ground potential of inverter 1

(PV-)-to-ground potential of inverter 2

(PV-)-to-ground potential of inverter 3

(PV-)-to-ground potential of inverter 4

(PV-)-to-ground potential of inverter 5

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November Part B 2017

55Â

CLIMATE CHANGE

Paris pledges only a third of what is needed to avoid worst impacts of climate change, says UNEP emission gap report National pledges on emission reduction, made by countries from across the globe under the Paris Agreement, will only bring a third of what is needed to avoid worst impact of climate change, says a report of the United Nations Environment Programme (UNEP).

eleased in Geneva, the report notes that even full implementation of current unconditional and conditional national climate actions makes a temperature increase of at least 3 degree Celsius by 2100 – meaning that the governments need to deliver much stronger pledges when they are revised in 2020. The Paris Agreement, approved by 195 countries in December, 2015, aims to limit global warming to under 2 degree Celsius, with a more ambitious goal of 1.5 degree Celsius also on table. The countries had, therefore, pledged to take their voluntary climate actions including emission reduction through multiple measures to meet the target. It is expected that meeting these targets would reduce the likelihood of severe climate impacts that could damage human health, livelihoods and economies across the globe. The UNEP report has, however, found that these pledges would only

bring a third of the reduction in emissions required by 2030 to meet climate targets. It, therefore, pitched for an urgent need to increase the ambition by both governments and non-state actors. The report – UNEP’s Emission Gap Report – was released just days ahead of the UN Climate Change Conference (COP23) in Bonn where the member countries including India will during November 6-17 Conference discuss guidelines to implement actions under the Paris Agreement which had come into force in November last year. The Emission Gap Report finds that current Paris pledges make 2030 emissions likely to reach 11 to 13.5 gigatonnes of carbon dioxide equivalent (GtCO2e) above the level needed to stay on the least-cost path to meeting the 2 degree Celsius target. One gigatonne is roughly equivalent to one year of transport emissions in the European Union (including aviation). The emission gap in the case of the 1.5 degree Celsius target is 16 to 19 GtCO2e.

“One year after the Paris Agreement entered into force, we still find ourselves in a situation where we are not doing nearly enough to save hundreds of millions of people from a miserable future. This is unacceptable. If we invest in the right technologies, ensuring that the private sector is involved, we can still meet the promise we made to our children to protect their future. But we have to get on the case now”, he said while pitching for urgent actions in view of the emission gap between the target and current pledges under the Paris deal.” said Erik Solheim, Head of UNEP

The report claims that the carbon dioxide emissions have remained stable since 2014, driven in part by renewable energy, notably in China and India. However, it warns that other greenhouse gases, such as methane, are still rising and a global economic growth spurt could easily put CO2 emissions back on an upward trajectory.

Shri R. K. Singh leads Indian Delegation in the IEA Ministerial, Paris Union Minister of State (IC) for Power and New & Renewable Energy, Shri Raj Kumar Singh led the Indian delegation in the International Energy Agency (IEA) Ministerial, being held in Paris. The Minister emphasised the importance of clean energy and assured achievement of 175GW of renewable target of India while addressing the Plenary Session on Driving the Transitions to Clean Energy.

November Part B 2017

t the Ministerial, India signed joint work programmes with IEA and other key members of the IEA Family i.e. Brazil, Chile, India, Indonesia and Thailand. The event focusses on energy security, clean energy technology and government-industry dialogue on investment and digitalization, which would provide major opportunities for efficiency gains in the energy sector in the future. On the side-lines of the IEA Ministerial, the Minister had a delegate level discussion with the French Minister of State

Source: economictimes.indiatimes

for Ecological and Inclusive Transition, Ms. Brune Poirson. Shri Singh also had a very fruitful discussion on various issues of Power and New & Renewable Energy with the US Secretary of Energy, Mr. James Richard Perry.

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CLIMATE CHANGE

IFC Report Finds Policy Reforms, Innovation Can Unlock Trillions in Climate Finance Developing countries can meet climate targets promised in the landmark Paris Agreement by catalyzing trillions of dollars in private investments through a combination of smart policy reforms and innovative business models, according to a new report by IFC, a member of the World Bank Group.

he report identifies seven industry sectors that can make a crucial difference in catalyzing private investment: renewable energy, off-grid solar and energy storage, agribusiness, green buildings, urban transportation, water, and urban waste management. Already, more than $1 trillion in investments are flowing into climate-related projects in these areas. But trillions more could be triggered by creating the right business conditions in emerging markets, the report found.

“The private sector holds the key to fighting climate change,” said IFC CEO Philippe Le Houérou. “The private sector has the innovation, the financing, and the tools. We can help unlock more private sector investment, but this also requires government reforms as well as innovative business models - which together will create new markets and attract the necessary investment. This can fulfill the promise of Paris.”

FC’s Creating Markets for Climate Business report offers several examples of such an approach. On Sunday, Egyptian officials signed an agreement to create the world’s largest solar park. IFC provided a landmark $653 million debt package that will finance the construction of 13 solar power plants near the Egyptian city of Aswan.

he agreement occurred only after a series of reforms by the government and the creation of innovative financing structures. It is expected to lower electricity generation costs and reduce Egypt’s dependence on imported fossil fuels.

The Report’s Findings Point To Specific Investment Opportunities Including: l Renewable energy investments could climb to $11 trillion cumulative by 2040—reforms such as renewable energy auctions, land title reforms, and supportive energy storage policy frameworks would make this possible.

incentives such as green-building certification and mandatory benchmarking of energy use. Other important reforms should encourage new utility business models, such as green mortgages and energy service companies.

l Investments in off-grid solar and energy storage can reach $23 billion a year by 2025 —if countries use differentiated tariffs, clear technical and safety standards, and targeted financial incentives while supporting new business models for community based solar such as Pay-as-You-Go and innovative finance solutions such as securitization assets.

l Trillions of dollars in investments in sustainable urban transportation can be mobilized in the coming decade—if governments issue mandates to enable infrastructure investments and adopt municipal transit plans that can spur innovations, such as light rail.

l Trillions of dollars of agribusiness investment can become more “climatesmart”—if governments ensure property rights, good transportation infrastructure, and regulations and fiscal policies that encourage climate-smart investment while promoting improved farmer-training practices and using financial innovation to provide working capital for farmers. l Investments in green buildings could reach $3.4 trillion cumulative by 2025 in key emerging markets—if countries adopt better building codes and standards and create targeted financial

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l Investments in water supply and sanitation could exceed $13 trillion cumulative by 2030—for this governments would need to establish water pricing at predictable and sustainable levels to increase the creditworthiness of utilities while entering into public-private partnerships and adopting performancebased contracts. l Investments in climate-smart urban waste management could reach $2 trillion—if cities work to attract private sector participation through improved regulatory and enforcement frameworks, using economic incentives and cost-recovery mechanisms such as feed-in tariffs, and driving waste-conscious consumer behavior.

ddressing climate change is a strategic priority for IFC. Since 2005, IFC has invested $18.3 billion of its own funds in long-term financing for climatesmart projects and mobilized an additional $11 billion from other investors. The latest report is a follow-up to the Climate Investment Opportunities report issued by IFC last year, which found that the Paris Agreement could create -

trillion in investment opportunities for 21 emerging-market countries.

November Part B 2017

EXCLUSIVE INTERVIEW

In Exclusive Talk With

Mr.Tomas Polak Technical Expert, ESDEC ASIA

EQ: Please describe in detail about your Company, Vision, Objective &amp; Plan for India? TP : TP: ESDEC BV develops, manufactures and supplies professional mounting structures for the mounting of solar panels on roofs, called ClickFit and FlatFix. Our innovative mounting structures are different because they are easy to install by the installer, without compromising on the reliability and durability of the product. This is beneficial for the final quality and longevity of the PV system. More than 4 million solar panels have now been mounted using the ESDEC mounting systems – a milestone in the company's history. The delivery of the mounting system Flatfix Fusion for a 2.2 MW Dutch project led to us achieving 1.5 Gigawatt-peak. With this innovative mounting system, ESDEC has become the first and only company in the market to use ‘thermal decoupling’, a technique that ensures that the thermal effect of the building is not transferred to the solar panel system and vice versa, which prevents damage to the roof. As of now ESDEC is leading structure manufacturing company for rooftop. Our vision for now is capture 5% of market share in Indian market

November Part B 2017

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EXCLUSIVE INTERVIEW EQ: What are your USP and differentiative Factor as compare to your competitor's?

TP : TP: Since the establishment of ESDEC BV in 2004, more than four million solar panels with a combined capacity of > 1.5GWp have been installed on ClickFit and FlatFix mounting structures. ESDEC BV is one of the largest Dutch manufacturers of solar panel mounting structures. Strong Points of ESDEC are•

ESDEC mounting structure is made by Aluminium and Plastic so its light weight. European quality/design.

•

1.5GW references worldwide and presence in more than 20 countries.

•

20 years product warranty, Tier-1 customer are buying like ecotechnick, ikea etc.

•

Design flexibility, Universal project usage. Modular design, - no screws very easy to assemble and disassemble.

•

No penetrations/drillings, 40% less time for installations.

•

Dedicated Hotline for service and support, Software design/calculations on bill of materials like ballast weights, layout etc.

•

ClickFit and FlatFix mounting structures have been extensively tested by recognized testing institutes, such as DNW (wind tunnel), BRE, and are, amongst others, certified according to the Dutch Building Decree and the MCS012 by NQA.

•

Fixed dimensions, Single tool for installations.

•

Mounting of east/west or south north both options are available.

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EQ: What is SOLAR-KIT INDIA?

TP : We are moving forward to capture the market in India. For over twelve years, ESDEC has been producing and supplying mounting systems for solar panels. The success of our products has further accelerated our incredible growth in recent years. In order to continue to grow, innovate and professionalize, we have made Office in India based in Mumbai. We have our own warehouse near Mumbai and we are planning for manufacturing plant in Mumbai with annual Production capacity of 1GW. Also, we are planning for Regional Sales offices all over India.

EQ: Can you please brief us about your product?

TP : ESDEC develops, manufactures and supplies professional mounting structures for the mounting of solar panels on roofs, called ClickFit and FlatFix. ClickFit is the collective name of our slanting roof mounting

structures. FlatFix is the collective name of our mounting structures for flat roofs. We supply a suitable solution for all types of roofs and situations. Our innovative mounting structures are different because they are easy to install by the installer, without compromising on the reliability and durability of the product. This is beneficial for the final quality and longevity of the PV system.

EQ: How was the Response in Renewable Energy Expo2017 regarding your product?

TP : YES, we have participated for 1st time in India in Renewable Energy Expo-2017 in Noida and we are really much happy by the response we got from Industry Professionals. Many key Customers shown interest in ESDEC products, that's the reason we are starting manufacturing plan in India to serve the best. Already we have got 500KW order from customers and still getting enquirers for product.

MOUNTING SYSTEM FOR SLANTED ROOFS The ClickFit mounting system disting -uishes itself because it is quick and easy to install on the roof. We offer different systems, so that there is a solution for any kind of slanted roof, regardless of the type or brand of the solar panels.

MOUNTING SYSTEM FOR FLAT ROOFS The Flat Fix mounting system distinguishes itself through its extremely easy and quick installation on any flat roof. This benefits the quality and lifespan of the complete PV installation

November Part B 2017

RESEARCH

Power sector the most attractive and urban sector the least attractive: Crisil More private sector investments in infrastructure projects the need of the hour. The power transmission sector in India is the most attractive to invest in currently, followed by roads and highways, and renewable energy. Thermal generation, power distribution and railways need a lot of facilitation before they can draw big money but it is the urban sector, which is the least attractive right now, that requires a lot of attention, says the Infrastructure Investability Index by rating agency Crisil.

hat in last three years, the government has put in lots of resources in building infrastructures like roads and airports, almost making up for private sector investment in such projects. “You can do it for short run but not for long run. The challenge

is to bring private sector investments back in the Infrastructure sector,” he noted. India needs to spend at least Rs 50 lakh crore between fiscals 2018 and 2022 to build out its infrastructure sustainably, as per the CRISIL InfraInvex, India’s first investability index that tracks, measures and assesses the development, maturity and investment attractiveness of infrastructure sectors the

“India will see close to Rs 3,000 crore investment per day in the infrastructure sector, and 56 percent more than the Rs 37 lakh crore projected spend between fiscals 2013 and 2017,” said Ashu Suyash, Managing Director & CEO, CRISIL Ltd.

Also, more private sector investments in infrastructure projects are required, said Niti Aayog CEO Amitabh Kant at the Crisil India Infrastructure Conclave and pitched for channelling insurance and pension funds for financing infrastructure projects as also for a complete re-examination of the Viability Gap Funding (VGF) scheme. Infrastructure sector has suffered in India due to under-investment for a long time, he said. “We need to build up the environment to tap pension and insurance funds for investments in infrastructure projects…VGF scheme needs a complete re-examination,” Kant said.

“Spending of such magnitude requires expeditious resolution of the problem of stressed assets in banking, front-ending of bankable projects, comprehensive re-tooling of public-private partnership frameworks, and deepening of the infrastructure financing ecosystem, which is of tremendous importance.” The CRISIL InfraInvex is based on four pillars – policy direction, institutional strength and regula-

tory maturity, financial sustainability, and implementation ease. Being an ascending scale, a score of 1 reflects least investment attractiveness and maturity, and a score of 10 highest investment attractiveness and maturity. “Thermal generation, power distribution and railways need a lot of facilitation before they can draw big money. The urban sector, which is the least attractive right now, also needs a lot of attention.”

“The CRISIL InfraInvex scores for 2017 show that the power transmission sector in India is the most attractive to invest in currently, followed by roads and highways, and renewable energy,” said Sameer Bhatia, President, CRISIL Infrastructure Advisory. Source: moneycontrol

November Part B 2017

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RESEARCH

US renewable energy booms despite Trump vow to quit Paris deal Five months after Trump declared the United States would withdraw from the 2015 Paris climate accord, the Republican leader continues to unravel the environmental legacy of his predecessor, Democrat Barack Obama.

enewable energy continues to grow in the United States, despite US PRESIDENT DONALD TRUMP’S moves to dismantle clean power, deregulate industry and promote fossil fuels like coal, experts say. Five months after Trump declared the United States would withdraw from the 2015 Paris climate accord, the Republican leader continues to unravel the environmental legacy of his predecessor, Democrat Barack Obama. A signature piece of Trump’s strategy has been to roll back regulations, including the Obama-era Clean Power Plan, which aimed to cut US emissions from power plants for the first time. “They are trying to put their fingers on the scale in favor of coal and other polluting fossil fuels, and trying to do things to slow down the penetration of clean, renewable energy technologies, so that is the landscape,” said Alden Meyer, director of strategy at the Union of Concerned Scientists.

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ut many state and city governments have pressed on with their fight against climate change, and the job force of those working in renewable energies continues to expand nationwide.“The trend is very clear,” added Meyer. “To fight Trump, the investment and deployment of renewable energy and energy efficiency have continued growing.” Employment in the solar industry grew 24.5 percent in 2016 compared to a year earlier, reaching a workforce of nearly 374,000 people, according to an Energy Department report. Traditional fossil fuels employed just 187,000 people, it said. Employment in US wind energy rose 32 percent to nearly 102,000 people. “The renewable energy industry is already working here,” said Frank Maisano, senior principal at Bracewell, a law and government relations firm serving the energy

industry. “Jobs are growing dramatically in both wind and solar.” With or without Trump – Solar and wind energy combined now produce 10 percent of the total electricity in the United States, according to the Energy Department. In March, eight percent of the nation’s electricity came from wind and two percent from solar. In states like California, renewables made up an even larger proportion of electricity production. Climate science expert Michael Mann, a professor at the University of Pennsylvania, said it is possible that the United States will reach its commitment to cut emissions under the Paris accord regardless of what Trump says or does. “There is enough progress now at the local and state level, commitment from major companies, movement toward renewable energy etc. that most pundits now think we’ll reach our Paris targets with or without Trump’s explicit complicity,” Mann said in an email to AFP.

November Part B 2017

policy and regulation

Changes to Electricity Act propose penalty norms for PPAs, RPOs

Saboo Sodium Chloro Limited sets up a 400 kWp solar PV power plant

Saboo Sodium Chloro Limited has set up a fully integrated in-house Grid-Tied Solar power Plant at its factory located at Nawa city, Nagaur (Raj.), under captive power reverse net metering scheme of Government of Rajasthan.

T The proposed electricity amendment bill will include penalty provisions, stricter enforcement of power purchase agreements (PPA) and renewable purchase obligations (RPO), Power Minister R.K. Singh said

e will deal with the issues of PPA (power purchase agreement) and RPO (renewable purchase obligation) among others in the Electricity Amendment Bill,” he told reporters on the sidelines of an investors’ forum here organised by the industry chamber Assocham. “We are going to change the law and provide that any PPA which is signed, will be honoured. If they don’t honour it then there would strict penalties. So the uncertainties will go,” he said. “We will also bring it to the law making it necessary for all discoms to tie up for PPAs to cover the requirement of power in the area which they serve. They must have tied up PPA to cover 100 per cent of that requirement before their licences can be renewed. “You cannot get a monopoly licence to distribute power in certain area without tying up PPA for 100 per cent requirement,” he added. With electricity demand growth in India not keeping pace with the excess capacity addition and with tariffs falling, producers are facing offtake issues on power that they have not already tied up for sale through long-term PPAs.

In this connection, JSW Energy Chief Executive Prashant Jain told a news channel recently that while the company had tied up for the offtake of about 65 per cent of its power generation through long-term PPAs, it is facing challenges about disposal of its remaining “untied capacity”.

his will result in saving of approx. Rs. 75 Lakhs per annum for the company. This Solar plant will meet upto 80% of energy requirement of the company and with this, Saboo Sodium Chloro Limited becomes the first salt refinery in India to use Solar energy for their 80% of energy consumption. Brief Description of the Solar Plant: The technology used for installing this 400 kWp in-house Grid-Tied Solar Power Plant includes string inverter technology with poly-crystalline silicone solar modules. Solar Modules is the most important component of the Solar Power Plant. 1334 numbers of 400 kWp solar modules have been used in this solar power plant. Entire plant is commissioned by a well renowned manufacturer of Solar Panels and EPC Company, SolarMaxx. Solarmaxx is a leading Solar Energy Solutions provider. Inverter being second most important component allows power to the grid. String inverters operate on MPPT to ensure maximum power from solar modules at different ambient conditions. World class ABB make solar string inverters are used here, to convert DC power to AC. Modules are mounted on noncorrosive mounting structures. The frames and legs of the structure are made of hot-dip galvanized iron to maintain longevity of the plant and to withstand high wind velocity generally experienced in this area.

Benefits:

1. Supporting peak hour demand: The strong backup of power ensures increased manufacturing productivity during peak hours which translates to higher profits. 2. Reduced dependence on diesel backup: Solar power can reduce the dependence on the diesel power; if, not completely eliminate the need for it. Solar power comes at a levelized cost of around a quarter of diesel power. Hence it makes more sense to depend on solar power, subjected to the time of usage. 3. Minimal maintenance: Solar power plants have no moving parts. This results in minimal need to maintain it. Another advantage is that its noise-free. A noise-free power generation unit could be welcome in an otherwise noisy scenario of a factory. 4. Energy Security: Rooftop Solar PV plants will support selected loads or all the connected loads during a load shedding occasion, if it happens during the daytime. Solar PV plants are able to support factories at night with battery storage solutions, subject to a higher system cost. 5. For charging batteries for specific purposes.

Source: IANS

November Part B 2017

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Distributed Solar

Inauguration of Rooftop Solar Plant

Solar trees to light up parks in Kolkata The Bengal Government is taking a lot of initiatives to increase the share of renewable energy to the total power requirement of the state. Among renewable energy sources, solar energy is the leading contributor.

A 70 kWp Rooftop Solar Power Plant was inaugurated at Government Model Senior Secondary School, Sector 38 (West), Chandigarh by Sh. Siddhanta Das, IFS, Director General of Forests & Special Secretary, Ministry of Environment, Forests & Climate Change, Govt. of India. While interacting during the event Sh. Siddhanta Das appreciated the efforts taken by UT Administration in developing Chandigarh as a Model Solar City.

e appreciated the lead taken by Chandigarh in installing Solar Rooftop Plants on Govt. buildings but desired that in future more emphasis shall be given to promote its use by Private individual as well on their rooftop. After that the Chief Guest took a round of the school and inspected the Herbal Garden & Science park in the school campus and also the appreciated greenery maintained school management in collaboration with Forest department.

Sh. Santosh Kumar, IFS, CCF & Director UT, Chandigarh informed the gathering that 70 kWp Rooftop SPV Power Plant has been installed by CREST with 30% CFA from Ministry of New & Renewable Energy, Govt. of India. The total cost of the Project is Rs.68.26 Lac which includes operation & maintenance charge for 10 years. M/s C & S Electric Ltd.

ew Delhi is the contracting firm who has installed this Solar Power Plant. The Plant shall be able to generate 91,000 kWh (units) per year. He further informed that this Plant is able to generate 0.091 MU of Solar Energy per year, which is equivalent to reduction of 62.79 metric ton of CO2 and in turn equivalent to planting of 6806 trees per year, and hence a remarkable initiative under Climate Change Action Plan. After that Chief Guest visited Sukhna Wildlife Sanctuary and Botanical Garden, Sarangpur and appreciated the measures taken by Forest Department. He also visited Nagar Van behind Sukhna Lake which is being created under ‘Nagar Van Yojana’ of Ministry of Environment, Forests & Climate Change and took round of measures taken by Forest department in developing Nagar Van behind Sukhna Lake and appreciated the efforts of the Department of Forests, UT Chandigarh specially the cleaning/improvement of sewage water coming from Kansal in forest area by creating a Oxidation Pond and other natural measures.

ow, the government is going for a new concept in solar lighting – solar tree. A solar tree is a set of solar panels bunched together like a tree, connected to a central pole. This type of ‘tree’ is going to be one of the crucial elements in making Kolkata an environment-friendly city. The first is going to be set up at a park in south Kolkata, and later on, would be set up across the state. Each day, such a tree would be able to produce 5 kiloWatt (kW) of energy. Considering also the stylish object that it is, these would lead to both the saving of both money (from less use of conventional energy) and the beautification of landscapes. Another advantage of the solar trees is that whereas panels to produce 5 kW energy would take up a space of 500 square feet (sq ft), whereas a solar tree producing the same amount of energy would take up an area of just 9 sq ft.

Each tree would have 20 solar panels, spread out like the branches on a tree. Each panel would produce 250 watt (w) of solar energy, leading to a total of 5000 w or 5 kW. The height of each tree would be 25 to 30 feet (ft). However, to enable easy maintenance, the panels would be put up in three layers at a height of 12 feet. Initially the trees would be east-facing, but later on they would be made to rotate so that the panels move along with the sun from east to west, in order to capture the maximum amount of energy. Central Mechanical Engineering Research Institute has designed the solar trees. They are going to be made by a nationally licensed company. In another related development, encouraged over the drastic 80 per cent fall in electricity bill at Deshapriya Park after the installation of solar-powered lights two years ago, Kolkata Municipal Corporation (KMC) is all set to light up Jatin Das Park and Maddox Square with solar lights. The installations were inaugurated on October 24. According to a KMC mayor-incouncil member, the target is to cover all major parks with solar lights in a year or two. This will have great impact on the environment. Source: Anandabazar Patrika

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November Part B 2017

Distributed Solar

CleanMax commissions 140 kWp solar plant at Pitampura haat Mumbai college installs 150 solar panel, cuts electricity bills by 60% In an effort to reduce its carbon footprint, Maharashtra College of Arts and Commerce from South Mumbai has installed a rooftop solar plant of 50 kilo watt.

n an effort to reduce its carbon footprint, Maharashtra College of Arts and Commerce from South Mumbai has installed a rooftop solar plant of 50 kilo watt. The plant, set up at a cost of Rs 38 lakh, would generate 70,000 units of electricity per year and help in saving Rs 7.70 lakh in electricity cost per year. The 150 solar panels would save carbon footprint of 37.1 tonnes per annum.The college would generate its own electricity at a cost of Rs 2.71 per unit for 25 years against its average tariff of Rs 14 per unit for next 25 years.

CleanMax Solar today said it has commissioned a 140 kWp solar plant at the food and craft bazaar, Dilli Haat in Pitampura. This capacity is part of the 2.5 MW contract secured with the Delhi Government’s power generation arm, Indraprastha Power Generation (IPGCL), CleanMax Solar statement said.

ccording to statement, this rooftop solar power plant is expected to generate 1.97 lakh units of electricity through the year. This will help achieve a whopping 50 per cent saving per unit, reducing Rs 9.7 lakh per annum on the electricity cost. The solar plant is expected to reduce CO2 by 186 tonnes per annum. Commissioned under the unique OPEX or pay-as-you-go model, the plant is investment free, risk free and hassle free. Source: India

United Breweries, CleanMax join hands for sustainable brewing United Breweries Limited (UBL), has joined hands with CleanMax Solar to adopt large-scale rooftop and ground mounted solar power for ten of their breweries across India. 64

apacity of four mega watt peak across six of UBLs large facilities in the first phase, the initiative will make a large reduction in its United Breweries’ carbon footprint, and have annual cumulative savings in their overall electricity costs. The first phase of the initiative comprises installation of rooftop solar plants in six breweries, of which three – Taloja (Maharashtra), Aurangabad (Maharashtra), and Mallepally (Telangana) are already operational, and another three at Kothlapur (Telangana), a second brewery in Aurangabad (Maharashtra) and Srikakulam (Andhra Pradesh) are currently under construction. Once fully

November Part B 2017

operational, the solar plants are expected to generate over 60 lakh units of electricity per annum cumulatively, thereby abating 5600 tons of carbon dioxide annually. “Since 2011, CleanMax Solar has been working with industry leaders like United Breweries Limited to achieve their sustainability goals with our world-class solar power facilities. We are delighted to see breweries looking at a renewable future and will continue extending our expertise and support towards the same. As sustainability partners to some of India’s largest MNCs and corporate houses, CleanMax Solar has commissioned more than 200 projects across India in sectors ranging from food and beverages, pharmaceuticals, automotive manufacturing, education, and others,”

“We are proud to be associated with United Breweries Limited and assist them in reducing environmental impact across their manufacturing operations. Our hassle free and zero investment OPEX model is enabling United Breweries to meet anywhere from 10 to 30 per cent of their power consumption through solar power at these breweries, at a significant discount to grid electricity prices,” said co-founder CleanMax Solar, Andrew Hines.

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Quarter Results

JSW ENERGY NET UP 37% AT RS 297 CR IN JULY-SEPTEMBER “The company earned a net profit of Rs 297 crore as against Rs 217 crore in the corresponding quarter of the previous year,” JSW Energy said in a statement.

SW Energy today posted a 37 per cent jump in consolidated net profit at Rs 297 crore for the JulySeptember quarter this year compared to the same period of last year. “The company earned a net profit of Rs 297 crore as against Rs 217 crore in the corresponding quarter of the previous year,” JSW Energy said in a statement. Total comprehensive income of the company for the September quarter stood at Rs 612 crore as against Rs 398 crore in the corresponding period of the previous year. During the quarter, total income from operations was Rs 2,220 crore as against Rs 2,099 crore in the corresponding quarter of the previous year, an increase of 6 per cent, largely due to better merchant realisations and increase in other income. The company’s net power generation was 6,117 million units in the second quarter of FY201718 compared to 6,276 million units year ago. The merchant sales during the quarter were 1,182 million units. It said that the fuel cost for the quarter increased by 8 per cent YoY (year on year) to Rs 936 crore, primarily due to increase in international prices of coal.

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The EBIDTA before exceptional items for the quarter was Rs 1,053 crore as against Rs 1,014 crore in the corresponding quarter of the previous year, an increase of 4 per cent, primarily due to better merchant realisations, higher other income and savings in operation and maintenance costs, partly offset by higher fuel costs, it said. The finance costs have declined to Rs 391 crore from Rs 436 crore in the corresponding quarter of the previous year primarily due to interest rate reductions achieved through refinancing arrangements as well as prepayment/repayment of borrowings. The Consolidated Net Worth and Consolidated Net Debt as on September 30, 2017 were Rs 11,259 crore and Rs 12,679 crore respectively resulting in a low Net Debt to Equity ratio of 1.13 times, it added. On the electric vehicle venture, it said that during the second quarter of FY2017-18, it signed an MoU with Gujarat for setting up facilities for manufacture of electric car and storage battery.

he company is in the process of developing its product & technology strategies, business partnerships for technology and engineering as well as building the organisational set-up and core capabilities. A suitable SPV for the project is also being planned, it added. The board has approved capex budget for setting up new thermal generation capacity of 36MW for JSW Cement under long term PPA.

he company is working towards developing capability in the Renewable Energy space and plans to set up 7MW solar power units consisting of 6MW capacity for JSW Cement under long term PPA and 1MW capacity for JSW Energy’s captive consumption. The company also announced about securing a Rs 600 crore line of credit at attractive interest rate from SBI in partnership with World Bank for funding rooftop solar power projects.

November Part B 2017

Quarter Results

TATA POWER ANNOUNCES Q2 FY 2017-18 RESULTS; REAFFIRMS STRONG OPERATING PROFIT MARGINS RENEWABLES BUSINESS PAT UP BY 200%. 8

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November Part B 2017

Reports strong all-round performance in H1 FY18. Consolidated underlying business EBITDA# up by 25% and for the quarter up by 16% due to strong operating performance of all businesses. Renewable business profits jump by 200% to `173 crore in Q2 FY18 from `86 crore in Q2 FY17 led by profits from the renewable acquisition. H1 FY18 Consolidated PAT stood at `613 crore (before one off impacts of `152 crore) up 18% as compared to previous year. Q2 FY18 Consolidated PAT stood at `386 crore (before one off impacts of `152 crore) as compared to `427 crore in the corresponding period last year mainly due to higher FX loss of `113 crore in CGPL. TATA Power standalone continues to show robust performance with operating profit up by 2% as compared to Q2 FY17. PAT is down due to lower dividend and no interest income from CGPL. Coal companies report strong performance offsetting fuel under recovery at CGPL. CGPL further impacted by forex losses of `113 crore as compared to corresponding period last year. One off impacts of `152 crore include provisions for Docomo and Rithala plant.

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Quarter Results

Editorial Synopsis: Key Financial Highlights: Q2 FY18 vs Q2 FY17 8 Consolidated PAT stood at ` 386 crore (before one off impacts of ` 152 crore) as compared to ` 427 crore in the corresponding period last year. PYQ profits also include `52 crore PAT of PTMP which is held for sale now and hence not consolidated. 8 Standalone PAT stood at ` 163 crore (before exceptional item of ` 113 crore) as compared to ` 496 crore in the corresponding period last year 8 Consolidated Revenue* stood at ` 7,393 crore as compared to ` 7,285 crore in the corresponding period last year 8 Standalone Revenue* stood at ` 1,821 crore as compared to ` 1,798 crore in the corresponding period last year

NATIONAL, NOVEMBER 3 RD, 2017 : Tata Power, India’s largest integrated power company, today announced its results for the quarter ended 30th September 2017, reporting a 18% increase in consolidated profit (before one off impacts of ` 152 crore) for H1 FY18. During this quarter, Tata Power introduced various future-ready technological deployments for the benefit of its customers like the QR Code for easy bill payments and installing Electric Vehicle charging infrastructure in Mumbai, thereby reaffirming its positioning of being a tech forward integrated power company. PERFORMANCE HIGHLIGHTS: CONSOLIDATED 8 On a consolidated basis, Tata Power Group’s Q2 FY18 Revenue* stood at ` 7,393 crore as compared to ` 7,285 crore last year. 8 Consolidated PAT stood at ` 386 crore (before one of impacts of ` 152 crore) as compared to ` 427 crore in Q2 FY17 which includes ` 52 crore PAT of PTMP in Q2 FY17. PTMP is now held for sale and hence not consolidated. 8 Tata Power’s renewables business profits jumped up by 200% as compared to Q2 FY17. Most other operations, besides CGPL, have done better & reported strong performance. MPL, IPTC (Zambia), and Coal Companies reported higher profits as compared to corresponding quarter last year. PERFORMANCE HIGHLIGHTS: STANDALONE 8 For the Quarter ended September 30, 2017, Standalone Revenue* was ` 1,821 crore as against ` 1,798 crore. 8 PAT stood at ` 163 crore (before exceptional item of ` 113 crore) as compared to ` 496 crore in corresponding period last year mainly because higher dividend and deemed interest from CGPL in Q2 FY17.

Key Business and Growth Highlights Q2FY18: 8 Together with subsidiaries, Tata Power achieved generation of 14,440 MUs of power from all its power plants 8 Tata Power Renewable Energy Ltd. reported strong operational growth, with generation capacity rising 49% from Q2FY17 8 Tata Power is the first power utility to introduce QR code for bill payments in India 8 Tata Power launched Mumbai’s first Electric Vehicle Charging infrastructure in the city 8 Tata Power completed the construction of its 187 MW Hydro Project in Georgia likely to commence generation soon

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Commenting on the Company’s performance, Mr. Anil Sardana, CEO & Managing Director, Tata Power said, “During the quarter, the Company reported robust perational efficiency and performance inspite of a difficult business environment. Our renewable business continues to perform well and have reported robust results.

The consolidated profit of ` 386 crore (before one off impacts) for the quarter shows steady performance. With a gross installed generation capacity of 10,501 MW and more than 2.6 million customers, we continue to be India’s largest integrated power player. Having said that, we have maintained our commitment to providing our customers with the latest technology by introducing the QR Code service for bill payments, first power utility to set up electric vehicle charging stations in Mumbai and Delhii. We are confident that our strong growth trajectory will continue into the next quarter.”

November Part B 2017

Quarter Results

CANADIAN SOLAR REPORTS THIRD QUARTER 2017 RESULTS Canadian Solar Inc. ("Canadian Solar" or the "Company") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced its financial results for the quarter ended.

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November Part B 2017

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Quarter Results

THIRD QUARTER 2017 HIGHLIGHTS

Total solar module shipments were 1,870 MW, compared to 1,745 MW in the second quarter of 2017, and the third quarter guidance in the range of 1,650 MW to 1,700 MW. g

Net revenue was $912.2 million, compared to $692.4 million in the second quarter of 2017, and the third quarter guidance in the range of $805 million to $825 million.

Net revenue from the total solutions business as a percentage of total net revenue was 21.6% compared to 6.5% in the second quarter of 2017.

Gross margin was 17.5%, compared to gross margin of 24.2% in the second quarter of 2017 (including the benefits of two AD/CVD reversals of $42.6 million and $15.0 million based on the final rates of Solar 1 AR3 and Solar 2 AR1, respectively) and gross margin of 15.9% in the second quarter of 2017 (excluding the reversal benefits), and the third quarter guidance of 15.0% to 17.0%.

Net income attributable to Canadian Solar was $13.3 million, or $0.22 per diluted share, compared to net income of $38.2 million, or $0.63 per diluted share, in the second quarter of 2017.

Cash, cash equivalents and restricted cash balance as of September 30, 2017 was $1.15 billion, compared to $961.6 million as of June 30, 2017.

Net cash provided by operating activities was $153.8 million, compared to net cash used in operating activities of $83.4 million in the second quarter of 2017.

The Company's portfolio of solar power plants in commercial operation was 1,419.5 MWp as of September 30, 2017, with an estimated total resale value of approximately $2.0 billion. Only the class B share value of the Company's tax equity deal projects in the U.S. was included in the estimated resale value.

UPDATE ON THE MONETIZATION OF THE OPERATING PROJECTS g

In September 2017, Canadian Solar Infrastructure Fund, Inc. ("CSIF"), a fund sponsored by a subsidiary of the Company, obtained approval from the Tokyo Stock Exchange, Inc. (the "TSE") to list its investment units on the TSE's infrastructure investment fund securities market. Japanese subsidiaries of Canadian Solar agreed to sell 13 operating solar power plants with a total installed capacity of 72.7 MWp to CSIF as its initial portfolio (the "Initial Portfolio").

n initial public offering of 177,800 CSIF investment units was priced at 100,000 Japanese yen per unit, before underwriting discounts. Of the units included in the offering, Canadian Solar purchased 25,395 units as the designated purchaser. The listing was completed on October 30, 2017. CSIF plans to use the net proceeds from the offering and anticipated bank borrowings of JPY 17.7 billion (approximately $156 million) to consummate the acquisition of the Initial Portfolio. Net sale proceeds to Canadian Solar from the Initial Portfolio amounted to JPY 30.4 billion (approximately $270 million). Canadian Solar expects to use part of the net sale proceeds to reduce its overall debt by JPY 18.7 billion (approximately $165 million). g

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In September and October 2017, the Company entered into definitive agreements with two Asian buyers, to sell a portfolio of six solar power projects in California, totaling 703 MWp. These transactions are subject to various government approvals. The parties hope to close the transactions in the fourth quarter of 2017 or the first quarter of 2018, depending on the timing of the required governmental approvals.

In September 2017, the Company entered into an agreement to sell 99 percent of its Class B membership interests in the 92 MWp IS-42 project in North Carolina to Falck Renewables S.p.A., with closing expected in November 2017. In October 2017, the Company entered into agreements to sell interests in three solar projects in Australia, totaling 117 MWp, to Foresight Solar Fund Limited. The transaction is expected to close in the fourth quarter of 2017. During the quarter, the Company completed the sale of the 108 MWp SECI Maharashtra project in India.

November Part B 2017

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Quarter Results THIRD QUARTER 2017 RESULTS

et revenue in the third quarter of 2017 was $912.2 million, up 31.8% from $692.4 million in the second quarter of 2017 and up 38.8% from $657.3 million in the third quarter of 2016. Solar module shipments recognized in revenue totaled 1,782 MW, compared to 1,638 MW recognized in revenue in the second quarter of 2017 and 1,161 MW recognized in revenue in the third quarter of 2016. Solar module shipments recognized in revenue in the third quarter of 2017 included 12.6 MW used in the Company's total solutions business, compared to 29.2 MW in the second quarter of 2017, and 16.3 MW in the third quarter of 2016.

ross profit in the third quarter of 2017 was $159.8 million, compared to $167.8 million in the second quarter of 2017 and $117.3 million in the third quarter of 2016. Gross margin in the third quarter of 2017 was 17.5%, compared to 24.2% in the second quarter of 2017, and 17.8% in the third quarter of 2016. Gross profit in the second quarter of 2017 included the benefits of two AD/ CVD reversals of $42.6 million and $15.0 million based on the final rates of Solar 1 AR3 and Solar 2 AR1, respectively. Excluding the reversal benefits, gross margin in the second quarter of 2017 was 15.9%.

otal operating expenses were $102.0 million in the third quarter of 2017, up 21.3% from $84.1 million in the second quarter of 2017 and up 13.0% from $90.3 million in the third quarter of 2016. Selling expenses were $42.8 million in the third quarter of 2017, up 8.9% from $39.3 million in the second quarter of 2017 and up 26.1% from $34.0 million in the third quarter of 2016. The sequential and year-over-year increases were primarily due to higher shipping and handling costs, resulting from higher module shipment volumes and external sales commissions.

eneral and administrative expenses were $53.3 million in the third quarter of 2017, up 0.7% from $53.0 million in the second quarter of 2017 and up 1.6% from $52.5 million in the third quarter of 2016. Research and development expenses were $7.3 million in the third quarter of 2017, compared to $7.3 million in the second quarter of 2017 and $4.6 million in the third quarter of 2016. The year-over-year increase reflects the Company's continued commitment to investing in and commercializing solar energy technologies that differentiate the Company and strengthen its competitive position through higher efficiency, 70Â

November Part B 2017

and more sought after energy solutions. Other operating income was $1.4 million in the third quarter of 2017, compared to other operating income of $15.5 million in the second quarter of 2017 and $0.8 million in the third quarter of 2016. Other operating income in the second quarter of 2017 includes insurance compensation of $15.2 million for the loss of profit related to the June 2016 tornado damage to the Company's Funing cell factory.

ncome from operations was $57.8 million in the third quarter of 2017, compared to income from operations of $83.7 million in the second quarter of 2017, and $27.0 million in the third quarter of 2016. Operating margin was 6.3% in the third quarter of 2017, compared to 12.1% in the second quarter of 2017 and 4.1% in the third quarter of 2016. Non-cash depreciation and amortization charges were approximately $23.8 million in the third quarter of 2017, compared to $21.2 million in the second quarter of 2017, and $25.4 million in the third quarter of 2016. Non-cash equity compensation expense was $2.1 million in the third quarter of 2017, compared to $4.2 million in the second quarter of 2017 and $1.8 million in the third quarter of 2016. Interest expense was $33.7 million in the third quarter of 2017, compared to $26.7 million in the second quarter of 2017 and $18.8 million in the third quarter of 2016.

nterest income was $3.4 million in the third quarter of 2017, compared to $1.4 million in the second quarter of 2017 and $2.1 million in the third quarter of 2016.The Company recorded a gain on change in fair value of derivatives of $1.8 million in the third quarter of 2017, compared to a loss of $1.8 million in the second quarter of 2017 and a gain of $2.0 million in the third quarter of 2016. Foreign exchange loss in the third quarter of 2017 was $16.5 million compared to a foreign exchange loss of $11.6 million in the second quarter of 2017 and a foreign exchange gain of $4.4 million in the third quarter of 2016.Income tax expense was $6.2 million in the third quarter of 2017, compared to income tax expense of $9.0 million in the second quarter of 2017 and income tax expense of $16 thousand in the third quarter of 2016.

et income attributable to Canadian Solar was $13.3 million, or $0.22 per diluted share, in the third quarter of 2017, compared to net income attributable to Canadian Solar of $38.2 million, or $0.63 per diluted share, in the second quarter of 2017, and $15.6 million, or $0.27 per diluted share, in the third quarter of 2016.

FINANCIAL CONDITION

he Company had $1.15 billion of cash, cash equivalents and restricted cash as of September 30, 2017, compared to $961.6 million as of June 30, 2017. Accounts receivable, net of allowance for doubtful accounts, as of September 30, 2017 were $457.4 million, compared to $367.6 million as of June 30, 2017. Accounts receivable turnover was 47 days in the third quarter of 2017, compared to 56 days in the second quarter of 2017. Inventories as of September 30, 2017 were $301.5 million, compared to $283.2 million as of June 30, 2017. Inventory turnover was 37 days in the third quarter of 2017, compared to 52 days in the second quarter of 2017 Accounts and notes payable as of September 30, 2017 were $1.06 billion, compared to $899.5 million as of June 30, 2017. Excluding the borrowings included in "Liabilities held-for-sale", short-term borrowings as of September 30, 2017 were $2.14 billion, compared to $2.04 billion as of June 30, 2017. Long-term borrowings as of September 30, 2017 were $318.2 million, compared to $273.0 million as of June 30, 2017. The Company had approximately $1.29 billion in non-recourse bank borrowings as of September 30, 2017. Senior convertible notes totaled $126.2 million as of September 30, 2017, compared to $126.0 million as of June 30, 2017. Total borrowings directly related to utility-scale solar power projects, which included approximately $1.22 billion of non-recourse borrowings, were $1.43 billion as of September 30, 2017, compared to $1.30 billion as of June 30, 2017. Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, remarked, "This was a good quarter for us, as solar module shipments, revenue and gross margin all exceeded guidance mainly due to the better-than-expected demand in China, and the pull-in effects in the U.S. market ahead of the Section 201 ruling. As a result, the average selling price of solar modules was sustained in the quarter. Our shipments to third-party customers in the U.S. were moderate in the third quarter, as we supplied modules to our own 281MWp Tranquility 8 utility-scale project in California.

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Quarter Results

UTILITY-SCALE SOLAR PROJECT PIPELINE

owever, the pull-in effect appears to have driven the spot market solar module price higher globally and pushed low-price solar module demand into 2018. We did, however, encounter some headwinds. The cost of raw materials, such as high-purity polysilicon and aluminum extrusion products, increased significantly during the quarter. In addition, the appreciation of the Chinese Renminbi and the Canadian dollar against the U.S. dollar resulted in foreign exchange losses to the Company and drove up our production cost. We responded by expanding on those manufacturing steps in which we have technology advantages, such as diamond wire-saw wafering and black silicon solar cell. These efforts helped to partially offset the increase of raw materials costs. Meanwhile, we are continuously making progress in the monetization of our operating solar power plants. We are close to the finish line with transactions to sell certain project assets in the U.S. and Australia. In Japan, CSIF was listed on the TSE's infrastructure investment fund securities market on October 30, 2017, with an initial portfolio of 72.7 MWp. During the quarter, we also completed the sale of the 108 MWp SECI Maharashtra project in India. We are excited with the results of our hard work and remain focused on executing our strategy to develop and sell quality solar products and projects to create the maximum value for our shareholders." Dr. Huifeng Chang, Senior Vice President and Chief Financial Officer of Canadian Solar, added, "Our higher-than-expected solar module shipments in the third quarter were driven by strong demand for solar modules from China, the U.S., Japan and India. Our higher gross margin was the result of increased average selling price compared to our previous expectation, better cost controls and manufacturing efficiencies. We are pleased with the progress we have made in the monetization of our operating solar power plants in the U.S. and Japan. We will further reduce our overall debt, after the sale of the 703 MWp of U.S. projects, 150 MWp U.K. project and CSIF's initial public offering in Japan."

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he Company divides its utility-scale solar project pipeline into two parts: an early-to-mid-stage pipeline and a late-stage pipeline. The late-stage pipeline primarily includes projects that have energy off-take agreements and are expected to be built within the next two to four years.

Late-Stage Utility-Scale Solar Project Pipeline As of October 31, 2017, the Company's late-stage utility-scale solar project pipeline, including those in construction, totaled approximately 1,598.9 MWp, which included 344.5 MWp in Japan, 416 MWp in China, 326.4 MWp in Brazil, 238 MWp in the U.S., 117 MWp in Australia, 68 MWp in Mexico, 41 MW in Chile, 22 MWp in the Philippines, 18 MWp in Africa and 8 MWp in the U.K. The Company cautions that some late-stage projects may not reach completion due to various completion risks, such as failure to secure permits and grid connection, among others. In the U.S., the Company signed two PPAs for the 150 MWac/210 MWp Mustang 2 solar photovoltaic project located in Kings County in central California. Peninsula Clean Energy signed a 15-year Power Purchase Agreement ("PPA") for 100 MWac of

solar power, and the Modesto Irrigation District signed a 20-year PPA for the remaining 50 MWac of the project. Electricity will be delivered following commercial operation of the project, expected in 2019. The 20 MWac/28 MWp Gaskell West 1 solar project, located in Kern County in southern California, is currently under construction and is expected to begin delivering electricity to Southern California Edison by mid2018 pursuant to a 20-year PPA. The Company's wholly-owned subsidiary, Recurrent Energy, entered into an agreement for the sale of 99 percent of its Class B membership interest in the 71 MWac/92 MWp IS-42 solar project located in North Carolina to Falck Renewables S.p.A., with closing expected in November 2017. This project reached commercial operation in September 2017.

The table below sets forth the Company's late-stage utility-scale solar project pipeline in the U.S. as of October 31, 2017:

U.S. Project

MWp Location

Mustang 2

210

Gaskell West 1 28

Status

Expected COD

California Development

2019

California Construction

2018

Total 238 In Japan, as of October 31, 2017, the Company's pipeline of utility-scale solar projects totaled approximately 543.3 MWp. 344.5 MWp of these projects are described as late-stage which have secured interconnection agreements and FIT. 140.6 MWp of the late-stage projects are under construction and 203.9 MWp are under development. A total of 30.4 MWp of

projects have achieved commercial operation since July 31, 2017, of which 29.4 MWp were connected to the grid in the third quarter and 1 MWp was connected in October 2017. Canadian Solar has an additional 198.8 MWp of utility-scale solar projects in the bidding process, which will be added to the list of late-stage projects once FIT is awarded.

Expected Japan COD Schedule of Late-Stage Projects (MWp)

Q4 2017 2018 2019 2020 19.1

2021 and Thereafter

79.1 87.2 141.2

17.9

Total 344.5

November Part B 2017

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Quarter Results

In Brazil, the Company has a total of 326.4 MWp of late-stage projects. The table below sets forth the Company's late-stage utility-scale solar project pipeline in Brazil as of October 31, 2017:

Brazil Project

MWp Location

Status

Expected COD

Guimarania

210

Brazil

Development

2018

Pirapora I

38.3* Brazil

Constructioned

2017

Pirapora II

115

Brazil

Construction

2018

Pirapora III

92.5

Brazil

Construction

2017

(formerly Vazante)

Total

326.4

The Company completed the sale of an 80% interest in each of 191.5 MWp Pirapora I, 115 MWp Pirapora II and 92.5 MWp Pirapora III to EDF. The Company supplies modules for all the Pirapora projects. In November 2017, the 191.5 MWp Pirapora I project reached commercial operation and the 92.5 MWp Pirapora III project was commissioned. The Company acquired the 80.6 MWp Guimarania solar power project in Brazil during the third quarter 2017. Canadian Solar will build and provide solar modules to the project. The project received a 20year PPA from the second Reserve Energy Auction at R$290.00/MWh

(approximately US$91.77/MWh). Construction will start in early 2018, with targeted commercial operation in the fourth quarter of 2018. In Australia, the Company entered into binding contracts in October 2017 to sell interests in three solar farms in Queensland, Australia, with an aggregate 117 MWp of capacity to Foresight Solar Fund Limited ("FSFL"). FSFL is acquiring 49% interests in each of Longreach Solar Farm (17 MWp) and Oakey 1 Solar Farm (30 MWp), and a 100% interest in Oakey 2 Solar Farm (70 MWp). In China, as of October 31, 2017, the Company's late-stage utility-scale power pipeline stands at 416 MWp.

MANUFACTURING CAPACITY

he table below sets forth the Company's capacity expansion plan from June 30, 2017 to December 31, 2018:

Manufacturing Capacity Roadmap (MW)

30-Jun-17

31-Dec-17

30-Jun-18

31-Dec- 18*

Ingot

1,200

1,720

2,500

Wafer

2,000 5,000

5,000

Cell

4,490 5,450

6,200

6,950

Module

6,970 8,110

9,060

10,310

he Company completed the ramp up of the new multi-crystalline silicon ingot casting workshop at Baotou, China at the end of the third quarter of 2017, with a total annual capacity of 1,100 MW, including capacity relocated from the Company's Luoyang plant. The total annual capacity is expected to reach 1,200 MW by the end of 2017 through production debottlenecking. The new Baotou ingot factory enables the Company to reduce the amount it pays to purchase external ingots and thus reduces its all-in module manufacturing costs. The Company plans to further increase its ingot capacity to 1,720 MW by June 30, 2018, and may expand to 2,500 MW if market conditions justify.

he Company's wafer manufacturing capacity is now 3.0 GW and is expected to reach 5.0 GW by December 31, 2017, compared to the 4.0 GW originally planned, mainly as a result of production debottlenecking. All the Company's wafer capacity uses diamond wire-saw technology, which is compatible with the Company's proprietary and highly efficient Onyx black silicon multi-crystalline solar cell technology, allowing it to significantly reduce silicon usage and manufacturing costs.

he Company's solar cell manufacturing capacity at the end of third quarter of 2017 was 4.7 GW. The Company plans to add additional cell manufacturing capacity in its Funing and South East Asia plants later this year to bring its total cell manufacturing capacity to 5.45 GW by December 31, 2017. The Company plans to add another 1.5 GW in 2018 to reach approximately 7 GW by the end of 2018.

he Company expects that its total worldwide module manufacturing capacity will exceed 8.11 GW by December 31, 2017, and may further increase it to over 10 GW by the end of 2018, if market conditions justify.

The table below sets forth the Company's capacity expansion plan from June 30, 2017 to December 31, 2018:

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November Part B 2017

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Quarter Results

BUSINESS OUTLOOK

he Company's business outlook is based on management's current views and estimates with respect to operating and market conditions, its current order book and the global financing environment. It is subject to uncertainties relating to final customer demand and solar project construction schedules. Management's views and estimates are subject to change without notice. For the fourth quarter of 2017, the Company expects its total solar module shipments to be in the range of approximately 1,650 MW to 1,750

MW, including approximately 60 MW of shipments to the Company's utility-scale solar power projects that may not be recognized as revenue in the fourth quarter of 2017. Total revenue for the fourth quarter of 2017, which includes revenue from both of our solar module sales and from our energy business, is expected to be in the range of $1.77 billion to $1.81 billion, which is based on the best estimate of the transaction dates of certain utility-scale solar project sales, as discussed in previous sections. Revenue will be affected if some of the project sales slip to 2018. Gross

margin for the fourth quarter of 2017 is expected to be between 10.5% and 12.5%. For the full year 2017, the Company expects its total module shipments to be in the range of approximately 6.7 GW to 6.8 GW, compared to 6.0 GW to 6.5 GW as previously guided. The Company expects its revenue for the full year 2017 to be in the range of $4.05 billion to $4.09 billion. Module shipments recognized in revenue and total annual revenue will depend on market conditions, including ASP trends and governmental approvals for the sale of solar projects.

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

mended, "Looking into Q4 of 2017 and next year, the solar industry continues to face both opportunities and challenges. We believe that solar energy will be adopted by more and more people and the long-term aspect of the industry is bright given the compelling fundamentals. However, the environmental and trade policies of certain countries will likely continue to cause uncertainty. Separately, while Canadian Solar remains an industry cost leader, the unexpected raw material cost increase and the appreciation of Chinese currency over the past few months will make it challenging for us to reach our previously-set solar module manufacturing cost target by the end of 2017. Canadian Solar will continue to prioritize profitability rather than market share, focus on research and technology, and selectively invest into certain manufacturing processes to optimize our supply chain and cost structure."

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November Part B 2017

73Â

Quarter Results

Azure Power Announces Results for Fiscal Second Quarter 2018 Azure Power Global Limited (NYSE:AZRE), a leading independent solar power producer in India, today announced its consolidated results under United States Generally Accepted Accounting Principles (“GAAP”) for the second quarter ended September 30, 2017.

SECOND QUARTER 2018 PERIOD ENDED SEPTEMBER 30, 2017 OPERATING HIGHLIGHTS: Operating Megawatts Were At 803 Mw, As Of September 30, 2017 An Increase Of 124% Over September 30, 2016. Operating & Committed Megawatts Were At 1,381 Mw, As Of September 30, 2017 An Increase Of 35% Over September 30, 2016. Revenue For The Quarter Was Inr 1,823.8 Million (Us$27.9 Million), An Increase Of 104% Over The Quarter Ended September 30, 2016. Adjusted Ebitda For The Quarter Was Inr 1,499.5 Million (Us$23.0 Million), An Increase Of Approximately 167% Over The Quarter Ended September 30, 2016.

November Part B 2017

KEY OPERATING METRICS

lectricity generation during the six months ended September 30, 2017 increased by 306 million kWh, or 111%, to 581 million kWh, compared to the same period in 2016. The increase in electricity generation was principally a result of additional capacity operating during the period. Total revenue during the six months ended September 30, 2017 was INR 3,701.7 million (US$ 56.7 million), up 93% from INR 1,916.6 million during the same period in 2016. The increase in revenue was primarily driven by the commissioning of new projects.

roject cost per megawatt operating consists of costs incurred for one megawatt of new solar power plant capacity during the reporting period. The project cost per megawatt operating for the six months ended September 30, 2017 decreased by INR 7.0 million (US$ 0.11 million) to INR 51.1 million (US$ 0.78 million), as compared to the same period in 2016. The decline is due to decreasing solar module prices and the reduction in the balance of system costs. As of September 30, 2017, our operating and committed megawatts increased by 360 MW to 1,381 MW compared to September 30, 2016 as a result of winning new projects. On October 16, 2017, the Company announced that it has won 250 MW of new projects. This brings the Operating and Committed Megawatt capacity to 1,631 MW.

NOMINAL CONTRACTED PAYMENTS

he Company’s PPAs create longterm recurring customer payments. Nominal contracted payments equal the sum of the estimated payments that the customer is likely to make, subject to discounts or rebates, over the remaining term of the PPAs. When calculating nominal contracted payments, the Company includes those PPAs for projects that are operating or committed. The following table sets forth, with respect to our PPAs, the aggregate nominal contracted payments and total estimated energy output as of the reporting dates. These nominal contracted payments have not been discounted to arrive at the present value.

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Quarter Results SECOND QUARTER PERIOD ENDED SEPTEMBER 30, 2017 CONSOLIDATED FINANCIAL RESULTS:

Nominal contracted payments (in thousands) Total estimated energy output (kilowatt hours in millions)

ominal contracted payments increased from September 30, 2016 to September 30, 2017 as a result of the Company entering into additional PPAs. Over time, the Company has seen falling benchmark tariffs as reported by Central Electricity Regulatory Commission, in line with the reduction in solar module prices.

PORTFOLIO RUN-RATE

ortfolio run-rate equals annualized payments from customers extrapolated based on the operating and committed capacity as of the reporting dates. In estimating the portfolio run-rate, the Company multiplies the PPA contract price per kilowatt hour by the estimated annual energy output for all operating and committed solar projects as of the reporting date. The estimated annual energy output of the Company’s solar projects is calculated using power generation simulation software and validated by independent engineering firms. The main assumption used in the calculation is the project location, which enables the software to derive the estimated annual energy output from certain meteorological data, including the temperature and solar insolation based on the project location. The following table sets forth, with respect to the Company’s PPAs, the aggregate portfolio run-rate and estimated annual energy output as of the reporting dates. The portfolio run-rate has not been discounted to arrive at the present value.

Portfolio run-rate (in thousands) Estimated annual energy output (kilowatt hours in millions) Portfolio run-rate increased by INR 2,267.5 million (US$ 34.7 million) to INR 12,827 million (US$ 196.4 million) as of September 30, 2017, as compared to September 30, 2016, due to an increase in operational and committed capacity.

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Operating Revenue Operating revenue in the quarter ended September 30, 2017 was INR 1,823.8 million (US$ 27.9 million), an increase of 104% from INR 894.9 million over the same period in 2016. The increase in revenue was driven by the commissioning of new projects. COST OF OPERATIONS Cost of operations in the quarter ended September 30, 2017 increased by 92% to INR 144.7 million (US$ 2.2 million) from INR 75.4 million in the same period in 2016. The increase was primarily due to plant maintenance cost for newly commissioned projects which was partially offset by the implementation of improved O&M methods which improved plant productivity. This includes INR 17.6 million (US$ 0.3 million) of non-cash expense, which pertains to the amortisation of lease expense. GENERAL AND ADMINISTRATIVE EXPENSES General and administrative expenses for the quarter ended September 30, 2017 decreased by INR 78.8 million (US$ 1.2 million), or 30%, to INR 179.6 million (US$ 2.8 million) compared to the same period in 2016. General and administrative expenses was lower due to lower legal and professional expenses in the current period as compared to same period last fiscal on account of the Company’s Initial Public Offering last year in the same period and due to platform of economies of scale. DEPRECIATION AND AMORTIZATION EXPENSES Depreciation and amortization expenses during the quarter ended September 30, 2017 increased by INR 216.5 million (US$ 3.3 million), or 88%, to INR 463.0 million (US$ 7.1 million) compared to the same period in 2016. The principal reason for the increase was capitalization of new projects during the period from June 30, 2017 to September 30, 2017. INTEREST EXPENSE, NET Net interest expense during the quarter ended September 30, 2017 increased by INR 1,781.6 million (US$ 27.3 million), or 305%, to INR 2,364.9 million (US$ 36.2 million) compared to the same period in 2016. It includes one-time non-cash write offs of unamortised deferred financing cost of INR 615.5 million (US$ 9.4 million) on account of the solar green bond and in addition, one-time prepayment fees of INR 658.4 million (US$ 10.1 million) for debt refinancing related to the solar green bond. Interest expense increased on account of borrowings for new projects during the quarter ended September 30, 2017. LOSS ON FOREIGN CURRENCY EXCHANGE The Indian rupee appreciated against the U.S. dollar by INR 0.9 to US$ 1.00 (1.4%) during the period from June 30, 2016 to September 30, 2016, while the Indian rupee depreciated against the U.S. dollar by INR 0.68 to US$ 1.00 (1.1%) during the period from June 30, 2017 to September 30, 2017. This depreciation during the period from June 30, 2017 to September 30, 2017 resulted in a foreign exchange loss of INR 43.0 million (US$ 0.7 million), compared to a gain of INR 76.1 million during the same period in 2016.

November Part B 2017

Quarter Results

INCOME TAX EXPENSE / BENEFIT The income tax benefit increased during the quarter ended September 30, 2017 by INR 77.1 million (US$ 1.2 million) to INR 130.9 million (US$ 2.0 million), compared to the same period in 2016. The increase in the income tax benefit was primarily on account of the commissioning of new projects. During the current quarter, we recorded a deferred income tax benefit amounting to INR 130.9 million (US$ 2.0 million) and there was no cash outflow relating to income taxes during the period. NET LOSS Net loss for the quarter ended September 30, 2017 was INR 1,240.5 million (US$ 19.0 million), as compared to a net loss of INR 138.9 million for the quarter ended September 30, 2016, an increase in loss of INR 1,101.7 million (US$ 16.9 million) as compared to the same period in 2016. This was primarily due to one-time expenses related to the issuance of solar green bond, and was partially offset due to an increase in revenue during the quarter ended September 30, 2017. CASH FLOW AND WORKING CAPITAL Cash generated from operating activities for the six months ended September 30, 2017 of INR 227.8 million (US$ 3.5 million), INR 37.7 million (US$ 0.6 million) higher than prior comparable period, primarily due to increase in revenue during the current period. Cash used in investing activities, for the six months ended September 30, 2017 was INR 5,272.6 million (US$ 80.7 million), compared to INR 5,494.6 million for the prior comparable period. The cash used in investing activities was lower due to higher realization of permitted investments and release of restricted cash from bond offering. Cash generated from financing activities was INR 15,351.0 (US$ 235.1 million) for the six months ended September 30, 2017, compared to INR 8,329.9 million for the prior comparable period. During the six months ended September 30, 2017, the Company raised INR 40,164.0 million (US$ 615.1 million) of project debt, including green bonds and non-convertible debentures. LIQUIDITY POSITION As of September 30, 2017, the Company had INR 16,530.6 million (US$ 253.1 million) of cash, cash equivalents and current investments. The Company had undrawn project debt commitments of INR 5,359.2 million (US$ 82.1 million) as of September 30, 2017. ADJUSTED EBITDA Adjusted EBITDA was INR 1,499.5 million (US$23.0 million) for the second quarter period ended September 30, 2017, compared to INR 561.1 million in the second quarter period ended September 30, 2016. This was primarily due to the increase in revenue during the period. DERIVATIVES AND HEDGING The Company elected to follow hedge accounting ASC 815 for the derivative contracts related to the green bond issuance and early adopted the FASB amendment ASU 2017-12 during the quarter and recorded a derivative asset of INR 246.0 million (US$ 3.8 million) as of September 30, 2017.

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November Part B 2017

Orient Green Power Q2 net down 47 pc at Rs 43.49 cr Orient Green Power Company today reported 47 per cent decline in its consolidated net profit at Rs 43.49 crore in the September quarter of the current fiscal.

ew Delhi, Nov 9 (PTI) Orient Green Power Company today reported 47 per cent decline in its consolidated net profit at Rs 43.49 crore in the September quarter of the current fiscal.The companys consolidated net profit stood at Rs 82.39 crore in the corresponding quarter of the previous fiscal, Orient Green Power Company said in a BSE filing today. According to the statement, the companys total income dropped to Rs 163.14 crore in the quarter from Rs 171.35 crore in the similar period a year ago.The consolidated net profit for April-September period this fiscal stood at Rs 52.59 crore down from Rs 59.74 crore in the year-ago period. Total income of the company during the first half of this fiscal was Rs 296.20 crore, up from Rs 271.71 crore in the year-ago period.

It said that the group operates in single segment that is power generation from renewable sources. The companys board has decided not to have further discussion with IL&FS Wind Energy in relation to evaluation of merging of Wind Businesses. The exclusivity agreement between the company and IL&FS Wind Energy ended on August 31.

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RESEARCH & DEVELOPMENT

Fraunhofer ISE Sets Efficiency Record for Multicrystalline Solar Cells Made of Polysilicon from WACKER German-based Fraunhofer Institute for Solar Energy Systems ISE has further improved the efficiency of multicrystalline solar cells, thereby setting a new record.

ost recent measurements confirm an efficiency of 22.3 percent. Reference studies such as the International Technology Roadmap for Photovoltaic (ITRPV) only show efficiencies of around 19.5 percent for standard production solar cells. With this new record, multicrystalline cells are venturing into performance areas previously reserved for monocrystalline technologies. As a starting material, the researchers used hyperpure polysilicon from WACKER, the Munich-based chemical company. In order to achieve the new efficiency record, important steps of the crystallization and cell manufacturing processes were optimized individually to the requirements of the multicrystalline starting material. Apart from an optimized plasma texture the researchers also used the so called Tunnel Oxide Passivated Contact technology (TOPCon) for rear side cell connectivity. Developed by Fraunhofer ISE, this process involves applying the electrical contacts to the passivated cell surface without patterning. This reduces electrical current losses and significantly enhances the efficiency of generating electricity. As a starting material for the record breaking cells, the researchers used hyperpure polycrystalline silicon from WACKER. The material is heated, melted and crystallized in a crucible. After cooling, the silicon ingot is cut into wafers that are, in turn, used to manufacture solar cells.

“Optimizing all manufacturing steps from crystallization to the individual solar cell processes were key to our success”, emphasizes Martin Hermle, Head of the High Efficiency Solar Cells Department at Fraunhofer ISE. “Close collaboration between characterization, crystallization and solar cell technology experts made it possible to reduce loss mechanisms and establish an optimized process chain.”

“We found out that cells made of hyperpure polysilicon from WACKER best fulfill the specific requirements of the solar cell structure”, stresses Stephan Riepe, Head of Group Silicon Crystallization and Epitaxy Materials at Fraunhofer ISE. “By systematically developing a highperformance material, we were able to achieve significantly higher cell efficiencies. In this process, the structure of only partially melted seed material is applied to the crystal. Our trials have shown that ultrapure granules from WACKER are particularly well-suited for this.”

The efficiency record is a key milestone for WACKER, too. “As a technology leader, we have been collaborating with the Fraunhofer ISE for many years now with the goal of promoting the development and characterization of solar cells and wafers for new, highly efficient solar installations,” says Karl Hesse, Head of WACKER POLYSILICON’s R&D unit.

“The new record-breaking cells also contain one hundred percent polysilicon from WACKER.”

For the experiments, the chemical company provided granular silicon and other materials from its Burghausen plant. “The experiments at Fraunhofer ISE show that the multicrystalline technology based on high-quality polysilicon is nowhere near reaching its limits”, Karl Hesse notes. “It is possible to realize significant efficiency and cost-saving potentials even with established solar technologies based on multicrystalline silicon. The developments of the past few months make us confident that further increases are to be expected in the future, too.” Source:Wacker

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November Part B 2017

CLIMATE CHANGE

Delhi Bigger Gas Chamber Than Beijing; China Cuts Down But India Will Use Even More Dirty Fuel As the national capital chokes with 'severe level' of pollution, India is estimated to become the largest growing consumer of energy - mainly the dirty fuel, while China is going to make a significant cut in the next twenty years.

India is estimated to become the largest growing consumer of energy - mainly dirty fuel — leaving China behind. (Image: PTI)

he sight of New Delhi was scary recently, when the city choked under a thick grey blanket of smog with ‘severe’ levels of pollution, forcing people to wear masks, government to shut down schools and medical body to declare it a public health “emergency”. While the current high level of pollution is due to crop burning in neighbouring states and temporary in nature, the national capital is infamous as world’s most polluted megacity, worse than China’s Beijing and Shanghai. And, the situation is likely to get scarier in future as India is estimated to become the largest growing consumer of energy - mainly dirty fuel - leaving China behind. In the next twenty years! India will require more additional energy to fuel its growing demand between today and 2040, leaving China behind and the reason is that India’s neighbour is going to take significant efforts to cut down its energy demand, mainly on dirty fuel, in the wake of its domestic pollution problems, World Oil Outlook 2040 report by OPEC showed. The downward revision in China’s energy consumption will be triggered by its country’s effort

“This change in the leading position is primarily the result of the downward revisions made for China… rather than a more positive outlook for India. India and China are the two nations with the largest additional energy demand over the forecast period. However, that for the first time recent projections see India as the single largest contributor to future energy demand, followed by China and other countries.” - the report said to reduce pollution. “Recent signals and specific actions being undertaken by China – such as the closure of several inefficient coal power plants, the cancellation of plans to build new power plants and the rapid expansion of renewable energy sources – have raised the credibility of government endeavours to combat domestic pollution problems, contribute to efforts to reduce global emissions,” the report added. The share of India’s energy demand is estimated to increase from around 6% in 2014 to almost 11% in 2040, registering the largest gain in overall share. The report further mentioned that both China and India are putting efforts to move forward with fuel efficiencies, China’s downward revision would be significant, while India’s consumption demand will continue to go up. “China and India, continue to move forward with fuel efficiencies and vehicle electrification plans,” the report said adding that India’s energy mix is dominated by coal, which has a 45% share followed by oil with 24% share.

There would be a slowdown in China’s coal demand due to a combination of slower economic growth and a shift away from energy-intensive industries, but also due to environmental policies aimed at reducing air pollution and CO2 emissions, the report said. However, Despite the highest growth in energy demand being in India, China is projected to retain the largest share of global energy demand, on a country basis, with around 23% over the entire period. Source: financialexpress

November Part B 2017

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Gensol: Failed Carbon Credit Firm To Big Solar Power Consultant MR. ANMOL JAGGI DIRECTOR GENSOL CONSULTANT PRIVATE LIMITED

esurrecting itself with upcoming solar power, the Gensol group, with its two promoters Anmol and Puneet Jaggi, has grown to become the largest player in solar design and engineering (D&E) consulting, along with operations and management (O&M) contracts for 2,000 Mw of solar power projects. The company has 50 per cent of the market in

Anmol Jaggi was a name in the carbon credit market in 2010, advising large corporate houses on how to be energy efficient and make money from it. With close to 25 million carbon credits and around 400 clients in India, his company, launched in 2007, had reached its zenith. But as the carbon credit market crashed, so did the plans of the company. “We tapped into the initial growth in solar power in Gujarat, and then pan-India," he says, adding falling tariffs have exerted a lot of pressure on project design. Gensol clocked annual revenues of Rs 75 crore in the last two years and is aiming to touch Rs 100 crore this year. “We have invested in the right areas, we are a profitable company and we are doing reasonably well. We are sufficiently funded at present and are not looking for any funding," Jaggi says.

“We forayed into solar power with almost a similar set of clients with whom we worked for in carbon credits. We were consultants for most of the first movers in the solar energy market," says Jaggi in an interaction with Business Standard. He adds that Gensol has designed and engineered nearly 6.5 GW of India’s 14 GW of installed solar power projects. solar power consulting with a client list that includes Greenko, Essel Infra, Suzlon, China Light and Power, ReNew Power and Shapoorji Pallonji. He says their background in the energy industry and being based in Ahmedabad provided the brothers a natural advantage in reaching out to companies entering the solar energy industry.

The other major business for Gensol is O&M contracts for solar power projects. “In the solar value chain, it is usually the most neglected part. While the company builds the project, maintenance is rarely an area of focus. We sensed a latent opportunity and decided to pursue it," Jaggi adds. Gensol entered into a joint venture with with Solarig, a Spanish company with a global O&M contract portfolio of 1.2 GW. “More than financial engineering, technology and project engineering will be the game changer in the Indian solar energy industry. As companies compete to bring down the cost of power, investment in efficient systems is key to healthy returns," Jaggi points out. He says the O&M market is witnessing 50-60 per cent growth, quarter on quarter, but adds that the domestic solar power market is stagnant and the company added 7-8 GW of contracts in the last two years. The Jaggi brothers have incubated six small ventures, including Prescinto Technologies, which provides supervisory control and data acquisition (SCADA) services. SCADA is used for remote monitoring and control of power demand and supply. “D&E is 70 per cent of our business, O&M is about 28 per cent and SCADA is the new segment with only 2 per cent. We expect to increase the SCADA revenue share to 15-16 per cent in the next eight months. We aim to be at over 30-35 per cent margin in our existing business by 2019 with D&E, O&M, SCADA and energy storage," Jaggi says.

Calling it “much more than Amazon" for solar power products, the Jaggi brothers have launched Ezysolare, an online marketplace for solar equipment installers in India, and Ezybox, a mobile, solar-powered inverter.

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November Part B 2017

SOLAR PROJECTS

EDF Energies Nouvelles and EREN Renewable Energy pursue their solar energy expansion in India EREN Renewable Energy (“EREN RE”) and EDF Energies Nouvelles are announcing the commissioning of three solar plants with installed capacity totalling 87 MWp. The projects are held via EDEN, their solar photovoltaic joint venture in India, with two of them located in the State of Uttarakhand and the other in Madhya Pradesh.

he 36 MWp unit capacity UTT1 and UTT2 solar power plants are situated in the State of Uttarakhand in north-eastern India. Each photovoltaic installation has 225,000 panels. With 72 MWp in total capacity, the two new photovoltaic facilities generate power covering the annual energy needs of 95,000 Indian homes. The two power plants have entered into a 25-year Power Purchase Agreement (PPA) with Uttarakhand Power Corporation Ltd (UPPCL), the regional grid operator. The UTT1 and UTT2 projects were won and developed by an Indian consortium (made up of Omkar Powertech India Private Limited, Profigate Infra Gasoline and Rays Power Infra Private Limited) following the competitive tender launched in 2013 by the Uttarakhand Renewable Energy

Development Agency (UREDA) the State agency responsible for developing renewable energies. EDF Energies Nouvelles and EREN RE have joint ownership of the two installations, alongside Rays Power Infra Limited, a local player ranking among India’s leading solar energy companies. In Madhya Pradesh, the 15 MWp MP photovoltaic power plant generates electricity equivalent to the annual consumption of 25,000 Indian homes. It also holds a 25-year Power Purchase Agreement (PPA) with regional grid operator Madhya Pradesh Power Management Company Limited (MPPMCL). This project was won in 2015 following the competitive tender launched by MPPMCL. EDEN arranged the financing and supervised the construction of these three solar power plants, which were acquired in 2016 and 2017.

EDEN, a joint venture between EDF Energies Nouvelles and EREN RE, develops, builds and operates solar energy projects owned jointly by the two partners in India. Through their local presence and their team of experts based in Delhi, EDF Energies Nouvelles and EREN RE now operate over 200 MWp in solar capacity in the States of Rajasthan, Uttarakhand and Madhya Pradesh.

PV MANUFACTURING

China's Tongwei to Spend $1.8 Billion on Solar-Cell Factories Company will build two plants, each with 10GW of capacity

ongwei Co. plans to spend 12 billion yuan ($1.8 billion) to build two solar-cell factories that would make the Chinese firm the world’s biggest manufacturer of products that generate electricity from the sun. The company’s Tongwei Solar Energy (Hefei) unit will set up one plant in the eastern city of Hefei and a second in the southwestern city of Chengdu, each with an annual production capacity of 10 gigawatts, its parent said in a Nov. 6 statement on the website of the Shanghai stock exchange. The investment is part of Tongwei’s plan to achieve 30 gigawatts of cell capacity. Its current 5.4 gigawatts makes Tongwei the world’s

November Part B 2017

Tongwei’s 30GW target would make it world’s biggest in solar "The rapid expansion of such products could challenge the market next year, said Jiang Yali, a BNEF analyst in Hong Kong. Whether Tongwei will carry out its plan in the short term is unknown."

The projects are expected to gradually start operation in three to five years, based on market demand, Tongwei said. Once completed, they’re projected to boost the company’s annual revenue by as much as 24 billion yuan. fourth-biggest solar-cell producer, and the company has an additional 4.3 gigawatts of capacity under construction. The world’s largest cell maker, Shanghai-based JA Solar Holdings Co., has an annual capacity

of 6.5 gigawatts, according to Bloomberg New Energy Finance. Tongwei’s plants will focus on unmanned intelligent manufacturing of high-efficiency monocrystalline silicon solar cells, according to the statement.

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PR DUCTS

GoodWe launches the world’s first AC-coupled retrofit inverter with UPS function The new SBP Series is applicable for both single-phase and threephase systems

oodWe has recently launched its new SBP series, the world’s first AC-coupled retrofit solution with UPS function which allows energy storage and uninterruptible power supply to both single phase and three phase inverter systems.

““Due to the reduction of solar feed-in tariffs by many governments and electricity network operators, grid-feed solar systems have become less economical. We are pleased to offer a more cost-efficient alternative for users who already own a grid-tied string inverter and do not want to invest in an energy storage inverter by offering them a battery-backup solution which can work alongside their existing system.” - said Huang Min, GM of GoodWe” SBP Series is compatible with BYD, LG, Pylon and GCL lithiumion batteries. By adding batteries, users can store the energy that the solar array is producing in the daytime and use it at night or even during a power outage. When the grid is down, GoodWe SBP seamlessly begins to invert power from the battery bank to power the critical loads. With its UPS function with an automatic switchover time of less than 10 miliseconds, GoodWe SBP provides uninterruptible power supply to inductive loads such as air conditioners or refrigerators.

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Even though GoodWe SBP Series is a single phase AC retrofit device, it can also work with a three phase meter to become a three phase energy storage system. EzMeter can be used for detection of single-phase or threephase inverter.

November Part B 2017

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