EQ Magazine Sept 2019 Edition : Part 4/4 by EQ Int'l Solar Media Group

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CONT EN T

VOLUME 11 Issue # 09 (D)

Disclaimer,Limitations of Liability

08 india Modi says will invest Rs 100 lakh cr in infra, $5 trn economy target achievable

15 india

Environment ministry relaxes lease rent on wind power projects, aims to provide clean energy at cheaper rate

SOLAR projects GoodWe Powered CocaCola Beverages Hindustan Factory

30 opinion Peak energy, peak oil, and the rise of renewables: An executive’s guide to the global energy system

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,NonCommercial use, provided you keep intact all copyright and other proprietary notices. want to use material for any non-personel,non commercial purpose,you need written permission from EQ International.

SEPTEMBER 2019-D

60 pv manufacturing

India’s Safeguard Duty On Solar Panels Is Not Helping Local Manufacturing

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india

Japan cautions Andhra Pradesh against eworking green power pacts

business & Finance LONGi released 2019 semi-annual report showing financial excellence, technology leadership and scale in production

41 interview

Mr. Chetan Shah

58 70

electric vehicle EESL signs its first MoU with a private partner, Apollo Hospitals, to boost EV charging infrastructure

interview Mr. Vikas Jain

48 interview

Mr. sushil bansal Mr. Ramesh Bansal

energy storage

interview

Energy Storage Microgrids What You Need to Know

research & analysis India leads with lowest renewable cost in Asia Pacific

Mr. ramesh nair

66 50 interview Mr. D.V. Manjunatha

interview

mr. Harsh jain Mr. T.S. Jain

EQ NEWS Pg. 08-40 www.EQMagPro.com

SEPTEMBER 2019-D

9Â

Adani Solar is the solar manufacturing arm of Adani Group, a USD 13 billion Indian conglomerate and one of the India's largest business houses with businesses spanning across Resources, Logistics, Energy, Agri and ancillary Industries. Adani Solar is India's largest Solar PV Cell and Module Manufacturer with 1.2 GW capacity at Mundra. It is the fastest growing Rooftop and distributed solar EPC company with projects over 250 MW commissioned and over 400 MW under execution. Adani Solar is... - India's 1st company with vertically integrated businesses that offers services across the spectrum of photovoltaics manufacturing. The Company offers high efficiency Multi, Mono PERC and Bifacial modules with superior efficiency, higher performance and enhanced reliability. - 1st manufacturer in India with IEC 2016 certification in all SKUs. - Accredited as Tier-1 supplier by BNEF - Only Indian manufacturer to be awarded as Top Performer by DNV-GL PVEL Global reliability testing for two consecutive years.

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SEPTEMBER 2019-D

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SEPTEMBER 2019-D

11Â

INDIA

Modi says will invest Rs 100 lakh cr in infra, $5 trn economy target achievable Addressing the nation from the ramparts of the Red Fort here on the 73rd Independence Day, he said reforms will continue to be ushered in to help India break into top 50 countries on the ‘ease of doing business’ ranking.

government alongside predictable policy provides a unique opportunity for India to grow. “The country shouldn’t lose this opportunity,” he said adding that his government has provided high growth while keeping inflation at low rate. He referred to reforms such as the Goods and Services Tax (GST) and Insolvency and Bankruptcy Code (IBC) for aiding the growth process and said the government will invest Rs 100 lakh crore in building modern ports, highways, railways, airports, hospitals and educational institutions. The prime minister said the era of policy paralysis has ended and his government was giving policy-based governance that has helped catapult the country from 142nd place among 190 nations on the World Bank’s ease of doing business ranking in 2014 to 77th position this year. Reforms will continue and procedures would be further eased to make it easier for companies to do business in the country, he said adding that efforts are on to increase the size of the economy to USD 5 trillion. “The target is to break into top 50 nations,” he said.

rime Minister Narendra Modi recently said his government will invest a massive Rs 100 lakh crore on developing modern infrastructure that will aid in nearly doubling the size of the Indian economy to USD 5 trillion in the next five years. Addressing the nation from the ramparts of the Red Fort here on the 73rd Independence Day, he said reforms will continue to be ushered in to help India break into top 50 countries on the ‘ease of doing business’ ranking. Modi said political stability through a massive mandate for his

India was ranked 142nd among 190 nations when the Narendra Modi’s government took office in 2014. Four years of reform pushed up India’s rank to 100th in the World Bank’s ‘Doing Business’ 2018 report. It was 130th in 2017 when India was ranked lower than Iran and Uganda. In its annual ‘Doing Business’ 2019 report, India secured 77th position. New Zealand tops the list, followed by Singapore, Denmark and Hong Kong. The United States is placed at 8th and China ranked 46th. Neighbouring Pakistan is placed at 136. India has improved its ranking by 53 positions in the last two years and 65 places in four years since 2014. The World Bank ranks 190 countries based on 10 parameters, including starting a business, construction permits, getting electricity, getting credit, paying taxes, trade across borders, enforcing contracts, and resolving Source: PTI insolvency.

“To some the target of nearly doubling the size of Indian economy to USD 5 trillion in five years may seem difficult. But when we have in five years (of BJP rule) added USD 1 trillion as compared to USD 2 trillion size achieved in 70 years of independence, then this target is achievable.” - Narendra Modi, Prime Minister, India

SEPTEMBER 2019-D

Cochin Airport To Dismantle A Section Of Its Power Source To Avoid Future Flooding The Cochin International Airport (CIAL) has begun the process of dismantling a portion of the solar panels which is powering it.

he development comes days after the airport resumed flight operations which were suspended for days after the runway got flooded in heavy rains. This was the second time in two years the airport had to suspend operations due to flooding. The airport got flooded after Chengalthodu, a small tributary of the Periyar river, which flows through the airport area overflew. Ever since the flood of 2018, there has been allegation from various corners that the runway which was built over the Chengalthodu was causing the flooding at the airport and adjoining villages. The solar panels which power the airport are also erected on land reclaimed by leveling Chengalthodu. Following a demand by the local MLA and other elected representatives, the Airport authorities are dismantling a section of the panels. They, however, claimed that there was no evidence to prove that the installation of the panels had caused the flooding.According to the authorities dismantling of the solar panels would result in a shortage of 4 MW of power generation. “We have started removing the panels which have been generating 4 MW of power. Daily production comes to 16,000 units and we are yet to assess the exact amount of loss but it will come to crores of rupees,” a CIAL official told Deccan Chronicle. It was in 2015 that Cochin Airport became the first in the world to become fully reliant on solar energy. The airport achieved this by installing a massive solar plant adjoining the airport’s cargo complex. It was hailed as a model for the world and even won the Champion of Earth Prize is considered the UN’s highest environmental accolade last year.

Source: indiatimes

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INDIA

Sterlite Power bags two transmission projects worth Rs 3000 crore

The company has already completed a wind energy evacuation project in Brazil earlier this year.

ower transmission player Sterlite Power on August 9 said it has bagged two contracts worth Rs 3,000 crore for setting up inter-state projects for UdupiKasargode and WRSS 21 (part B) involving lines and GIS substations. With these two projects worth Rs 3,000 crore, Sterlite Power has increased its footprint of inter-state transmission projects across 22 states, the company said in a statement here. The company has already completed a wind energy evacuation project in Brazil earlier this year. The Udupi-Kasargode project is required to decongest the ISTS transmission corridor and to facilitate smoother power flow within the southern region states of Karnataka to Kerala, while the Lakadia-Vadodara (WRSS 21

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“These projects awarded through competitive bidding have secured much lower tariff than the cost-plus tariff estimate and thus play a crucial role in enabling access to affordable power envisioned by the government.”

part B) located in Gujarat, will help connect the wind energy zones of Bhuj region to the load centers of Gujarat and Maharashtra. The government had approved transmission projects worth Rs 9,000 crore in nine packages under tariff-based competitive-bidding (TBCB) to be completed in 18 months to match the schedule of RE projects as renewable energy developers were facing constraints in evacuating power from projects coming up in Gujarat and Rajasthan. The TBCB mechanism ensures timely project delivery at a predetermined tariff transparently discovered through a competitive mechanism.

- Pratik Agarwal,

CEO, Sterlite Power

Source: PTI

SEPTEMBER 2019-D

INDIA

he renewable power projects may include any renewable source of generation or a combination of them. The plants are likely to be 1,800 MW in capacity, which can be spread over three areas of 600 MW each, and the power purchase agreements (PPAs) will be for 25 years, a senior government official said. Industry insiders, however, are skeptical about the idea of such ultra-mega renewable power projects as recent auctions of solar power contracts received tepid response. A tender by the Solar Energy Corporation of India (SECI) for 1,200 MW solar power purchase received bids from SoftBank-backed SB Energy and Chennai-based GRT Jewellers. Though SECI guarantees payments, the tariff ceiling is fixed at Rs 2.65 per unit. An NTPC tender for 1200 MW, too, received poor response, forcing the company to extend the deadline. The power tariff renegotiation bid by Andhra Pradesh has left investors nervous about taking up the otherwise lucrative projects. The government is planning to allocate the responsibility of site identification to all central public sector undertakings (CPSUs) in the energy space, including NTPC Ltd, SECI, Power Finance Corp

Green Mega Power Projects On The Anvil

The government is planning large renewable energy projects like the coal-based ultra-mega power project s (UMPPs) through the publicprivate-partnership route. and NHPC Ltd. Each CPSU may be given charge of two-three states. They will float joint ventures with the state governments and set up special purpose

CARE Ratings Revises 11 Solar Power Companies’ Borrowings To Negative Rating agency CARE Ratings has revised its outlook to negative on the borrowing programmes of 11 solar power producers due to delayed payment to them by distribution companies in Telangana for electricity purchased.

n a release recently, CARE Ratings said the 11 companies had a combined installed capacity of 574 MW. It has also downgraded the ratings on borrowing programmes of two solar power generators who have installed capacity of 80 MW and sell electricity to distribution companies in the state. “Off-taker risk, stemming from delays in payments by Discoms has been a major rating weakness for solar power generators exposed to Telangana. Solar power generators in the

SEPTEMBER 2019-D

Telangana have been facing delays in payments by up to eleven months,” Care Ratings added.As on June 30, total installed capacity of solar power in Telangana stood at 3,621 MW and

vehicles (SPVs). The states will help the SPVs secure land and regulatory clearances. The Centre is working on two-three models for sharing of profit between the CPSUs and the states. The states will receive 2 paise per unit for 25 years as yearly income on generation. A major relief to the renewable projects would be that the connecting power transmission line will be treated as national asset, relieving it from any pangs in clearances.India aims for 175-GW green power capacity by 2022. As on June 30, the capacity stood at 80 GW of the total installed generation capacity of 350 GW. Solar stands at 30 GW and wind at 36 GW in this pie.Coal-based UMPPs are large projects of 4,000 MW at one location that are identified and bid out by the government in the PPP mode. Of the dozen UMPPs planned, the government auctioned four such plants and only two are operating. The Budget 2015-16 had announced plans to set up five UMPPs — requiring investments of about Rs 1 lakh crore — through the plug-andplay model, whereby unencumbered possession of land, all clearances and linkages would be in place before the projects are awarded through auction. The plan was thereafter put on the backburner for revision of documents and due to lack of interest in coal-fired Source : indiatimes greenfield projects.

CARE Ratings has rated projects/ special purpose vehicles having aggregate exposure towards Telangana discoms of approximately 900 MW. All these entities have long term power purchase agreements with Telangana Discoms for 25 years tenor at tariffs in the range Rs 5.26 to 6.889 per unit. The state utilities in Telangana are severely cash strapped and relying on government subsidies to survive. Furthermore, there is no revision in tariffs for the fiscal year 2019-20, the agency said. As per the tariff order for FY2018-19, expected revenue deficit for discoms was projected at Rs 5,940.47 crore for FY2018-19.Out of subsidy of Rs 4,777 crore payable by the Telangana government for FY2017-18, Rs 850 crore was not released by it that year. In view of worsening of liquidity position of these SPVs, apart from ability to service debt in timely manner, operations and maintenance activities and the desired plant availability can also get impacted, the rating agency Source : bloombergquint said.

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INDIA

ORIX to Make Indian Wind Power Generation Business Companies Wholly Owned Subsidiaries

ORIX Corporation (“ORIX”) announced recently that it has agreed to acquire 51 percent of shares in seven wind power generation subsidiaries which it jointly owns with IL&FS Wind Energy Limited (“IWEL”); IWEL is the wholly owned subsidiary of IL&FS Energy Development Company Limited which, in turn, is a subsidiary of Infrastructure Leasing & Financial Services Limited (“IL&FS”), an Indian infrastructure development and investment company in which ORIX has a significant shareholding.

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L&FS intend to obtain all necessary approvals to turn these seven subsidiaries into ORIX’s wholly owned subsidiaries. ORIX has owned 49 percent of the shares of seven Special Purpose Vehicles (SPVs), with the aim of developing its wind power generation business in India. These seven SPVs operate wind power plants with a combined capacity of 873 MW in seven states mainly in the southern and western belt of India, where wind conditions are particularly favorable. The Indian government has announced policy goals to introduce a total of 175 GW of renewable energy by the end of 2022; it plans for 60 GW of

this total to be produced by wind power. In future, India’s wind power generation market is expected to experience high growth; for this reason, ORIX has moved to purchase the remaining 51 percent of the shares of each of the seven SPVs owned by IWEL, and turn them into wholly owned subsidiaries. ORIX is actively promoting its power generation business, which uses renewable energies such as solar, wind, geothermal, and biomass in Japan. Solar power generation capacity of which ORIX is responsible for the development and operation is a total of approximately 1 GW. Using the experience and expertise it has cultivated thus far, ORIX intends to strengthen its renewable energy business in Asia and the rest of the world henceforth.

ORIX to Participate in Large-Scale Wind Energy Projects with IL&FS in India (March 17, 2016) Source: orix.co.jp

SEPTEMBER 2019-D

INDIA

India needs $500-700 billion in renewable energy: IEEFA It reviewed India's energy market and found some recent policy changes favourable for renewable energy investors.

"There has been clear momentum in India's renewable energy capacity building in the last 24 months, leveraging the expanding opportunities in deflationary sustainable domestic projects," Buckley said in a statement to IANS. "India is set to reach 144 gigawatts of renewable energy by the end of financial year 202122. The country has a clear ambition to transition to a cheaper lower emission electricity system, and that ambition is attracting healthy global investment. "

Tim Buckley,

Director of Energy Finance Studies with IEEFA

ndia will require $500-700 billion in renewable energy and supporting grid investment over the coming decade in order to meet its renewable energy targets, the US-based Institute for Energy Economics and Financial Analysis (IEEFA) said recently. In a note titled 'International Capital Awaits Robust Policy Environment in India's Renewables Infrastructure Sector', it reviewed India's energy market and found some recent policy changes favourable for renewable energy investors. But it also noted with caution some sovereign risk issues that need to be resolved quickly. Author Tim Buckley, Director of Energy Finance Studies with IEEFA, said the world is looking to invest in India's renewable energy sector. According to Buckley, global capital flows into India will accelerate as long as the Indian government provides a clear policy framework and puts in place measures to lower risks and protect investor confidence. The briefing note highlighted multiple examples of international investment in India's renewable energy projects, while also noting recent obstacles to India's renewable ambitions, including a slowdown in the tendering process, grid integration constraints, and issues with excessively aggressive tariff caps on reverse auctions. As a result, during FY2018-19 India failed to capitalise on the momentum built over the previous two years through record low solar and wind tariffs. Only 10.3 GW of renewable generation capacity was added in FY2018-19. Co-author Kashish Shah said the slowdown masks some very positive policy announcements recently which accelerated tendering activity in June 2019, post the general election. "The proposed tariff policy revision and the payment security mechanism enhancements are both significant regulatory reforms, while removing the priority lending limit for the renewable energy sector will accelerate private bank lending to renewable energy infrastructure projects," Kashish Shah added. For global public and private debt and equity capital seeking steady long-term returns, there is a huge investment opportunity in India's electricity and transportation sectors to support the development of new generating capacity and Source : IANS grid development by 2030.

"India wants to meet its renewable targets while showing global leadership in setting a policy framework consistent with the Paris Agreement," Buckley added.

Locals disrupt coal supply to NTPC Kahalgaon; major power crisis feared in Bihar This has prevented offloading of coal at the unit, which receives about 12-14 freight wagons of the same every day, he said adding that the protesters are demanding permanent jobs at the super thermal power unit cores of locals are staging a demonstration at Kahalgaon near here, disrupting supply of coal to the 2340 MW NTPC unit even as officials expressed concern over fast depleting stocks which could lead to a major power crisis in Bihar if the situation remained unresolved for long. According to NTPC Kahalgaon Public Relations Officer Saurabh Kumar, the locals mainly villagers whose land was acquired for setting up the unit and who had been paid compensation besides employment through ad hoc jobs have been squatting on the Kahalgaon-Lalmatia rail track for nearly 24 hours. This has prevented offloading of coal at the unit, which receives about 12-14 freight wagons of the same every day, he said adding that the protesters are demanding permanent jobs at the super thermal power unit. He also said after they had announced their agitation, NTPC officials held several rounds of talks, assuring them that their concerns would be duly addressed and urging them not to disrupt the coal supply. However, they have gone ahead with their agitation. Four rounds of tripartite talks have been held wherein officials from the local administration as well as NTPC have tried to negotiate with representatives of the agitators. More rounds would take place today, he Vishwanath Chandan added. NTPC Manager, Corporate NTPC Manager Communications, (East-1) Vishwanath Chandan said in Patna it is a grim situation. Our coal stocks are fast depleting and we have reserves for not more than three days. If the crisis is not defused by then, power generation at the unit may get affected which would have a serious impact on electricity supply to many parts of Bihar. We have sent an SOS to Chief Secretary and the states Home Secretary seeking their urgent invitation in the matter. We have also sought an appointment with them later in the day, he added. Security inside the NTPC unit is managed by the CISF and, hence, that may not be an issue. But if the coal supply remains disrupted the unit will not be able to function. The situation cannot be tackled without active intervention of the state government, he said. Kahalgaon Super Thermal Power Station is one of the coal based power plants of the NTPC. The total installed capacity of the plant is 2340 MW and Bihar gets 426 MW out of this, Chandan said. The coal for the power plant is sourced from Rajmahal coalfield of Eastern Coalfields Limited in Jharkhand. Source: PTI

- Tim Buckley,

Director of Energy Finance Studies with IEEFA

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SEPTEMBER 2019-D

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INDIA

ReNew Power appoints D Muthukumaran as CFO Renew Power limited (“ReNew Power”), India’s leading Renewable energy company, announced appointment of Mr. D Muthukumaran, as its new Chief Financial Officer (CFO). Mr. D Muthukumaran will oversee the company’s finance & accounts, legal and corporate finance functions.

e takes over the role following the retirement from the company of the current CFO, Ravi Seth, who has been with ReNew for over 5 years. Mr. Muthukumaran brings with him a wealth of experience in the field of finance. He has driven business portfolio, M&A deals, raised funds in debt and equity and specialises in structured finance, leverage buyouts and regulatory and tax structuring.

Sumant Sinha, Chairman & Managing Director of ReNew Power said: “We are excited to have Muthukumaran on board our leadership team. He brings over 2 decades of varied experience in the field of finance and will be a great asset to ReNew Power. I am confident that he will help propel ReNew’s next phase of growth. I also wish Ravi all the best, who retires after 5 exciting years at ReNew”.

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Before joining ReNew Power, Mr. Muthukumaran was the Chief Executive Officer (CEO) of Aditya Birla PE Advisors Private Limited. During his 17 years with the Aditya Birla Group he also held positions of Chief Strategy Officer as well as Head of Group Corporate Finance. Prior to working with the Aditya Birla group he has worked with Lazard and Deloitte

Commenting on his new role, D Muthukumaran said: “I am delighted to join ReNew, India’s largest renewable energy company. I am also excited to be working in the clean energy space, which is expanding rapidly to provide a sustainable and viable solution in meeting India’s growing energy needs. I am looking forward to be a part of ReNew’s growth journey”. Mr. Muthukumaran holds a degree as a Chartered Accountant, a Cost & Works Accountant and Bachelors of Commerce from University of Madras. Source: renewpower.in

SEPTEMBER 2019-D

INDIA Energy Efficiency Services Limited (EESL), a joint venture of four public sector enterprises under the Ministry of Power, Government of India, Recently announced the successful installation of over 5,00,000 smart meters in the states of Uttar Pradesh, Delhi, Haryana, Bihar and Andhra Pradesh, under the Government of India’s Smart Meter National Programme (SMNP). The smart meters operational in these states aim to enhance consumer convenience and rationalise electricity consumption.

EESL successfully installs and operationalises over 5,00,000 Smart Meters across India

“As India makes rapid strides towards its vision of providing universal access to affordable power, it becomes important to eliminate the challenges faced by DISCOMs. To overcome challenges such as billing inefficiencies, unauthorised power consumption, and DISCOMs’ financial woes, the Government of India is accelerating the adoption of smart meters. We are pleased to support the DISCOMS in their pursuit of energy sustainability and accountability with the adoption of futureready technologies like Smart Meters. Thrust on such efficient systems is critical for consumption and growth in a sustainable manner and enhancing consumer experience through improved service delivery.”

-Saurabh Kumar,

Managing Director, EESL

ade with the latest technology as well as certified and type tested by the Bureau of Indian Standards (BIS) as per IS 16444 guidelines, which are followed and accepted globally, these smart meters are installed in accordance with guidelines issued by the Central Electricity Authority, Government of India. Smart meters are part of the overall Advanced Metering Infrastructure solution (AMI) that measures and records consumers’ electricity usage at different times of the day and sends this information to the energy supplier through GPRS technology. This gives consumers better access to information and enables them to make more informed decisions on the use of electricity in their homes. This can immediately control AT&C losses, due to power pilferage, bypassing meters, defective meters, or errors in meter reading. Every kilowatt of power drawn from the grid is thus accounted for – and billed, thereby reviving DISCOM revenues. EESL’s unique model – Pay-as-you-save (PAYS) has been at the core of this successful implementation and the positive experience of partner DISCOMs. EESL procures smart meters, as well as services of the system integrator with 100 percent investment, enabling DISCOMs to benefit with zero upfront financial investment. Their repayment to EESL is through the monetisation of energy savings, resulting from enhanced billing accuracy, avoided meter reading costs and other efficiencies. These savings further enable DISCOMs to invest in value-added services for its consumers. “As the backbone of India’s power industry, India’s DISCOM sector must participate in this new era of energy accountability that will enable citizens’ access to sustainable and reliable energy” added Mr Saurabh Kumar.

Sanction for 5595 electric Buses under Fame Phase-II

he Department of Heavy Industry has approved the sanction of 5595 electric buses to 64 Cities, State Government Entities,State Transport Undertakings (STUs) for intra-city and intercity operationunder FAME India scheme phase II in order to give a further push to clean mobility in public transportation. The Department had invited the Expression of Interest (EoI) from millionplus cities, smart cities, State/UT capitals and cities from special category states for submission of proposal for deployment of electric buses on operational cost basis. Eight six proposals from 26 States/ UTs for the deployment of 14988 e-Buses were received. After evaluation of these proposals as per EoI, on the advice of Project Implementation and Sanctioning Committee (PISC) the Government sanctioned 5095 electric buses to 64 Cities / State Transport Corporations for intra-city operation, 400 electric buses for intercity operation and 100 electric buses for last mile connectivity to Delhi Metro Rail Corporation (DMRC). Each selected City/STUsis required to initiate the procurement process in a time bound manner for deployment of sanctioned electric buses on operational cost basis. As per EoI, buses which satisfy required localization level and technical eligibility notified under FAME India scheme phase II will be eligible for funding under FAME India scheme phase II. These buses will run about 4 billion kilometers during their contract period and are expected to save cumulatively about 1.2 billion liters of fuel over the contract period, which will result into avoidance of 2.6 million tonnes of CO2 emission. Source: pib.gov.in

The smart meter technology is critical to India’s ongoing power sector reforms. The Smart Meter National Programme that aims to retrofit 25 crore conventional meters with smart variants will lead to 80-100 per cent Source: edelman improvement in billing efficiency.

SEPTEMBER 2019-D

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INDIA

Environment ministry relaxes lease rent on wind power projects, aims to provide clean energy at cheaper rate In a bid to boost investments in wind power projects and provide clean energy at cheaper rates, the environment ministry decided to relax the lease rent of Rs 30,000 per mega watt charged mandatorily from wind power companies.

Environment minister Prakash Javadekar took the decision in a review meeting at the ministry headquarters, saying this move will encourage investment and help provide wind power at a cheaper rate. “The government envisages to meet maximum energy requirement by tapping renewal energy resources and, to achieve the target of clean energy in a time-bound manner, various policies and regulations are being constantly updated. The government is committed to provide clean and green energy at a cheaper rate,” the minister said.

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urrently, to establish wind power project over forest land the existing procedure requires payment of mandatory charges for compensatory afforestation and Net Present Value (NPV). In addition to mandatory charges, the wind power companies had to pay additional lease rent of Rs 30,000 per mega watt (MW), a ministry official said. This additional cost is not mandatory for other renewal energy projects such as solar power and hydel electric projects.

“Additional cost for generation of clean energy through wind power escalates the per unit cost of power at consumer level,” the official said. The ministry said that promotions of such projects also strengthen the government’s commitments towards international agreements, and one of the national commitment pledged in Paris in 2015 was to have 40 per cent of the power from renewable resources by 2030. “It is noteworthy that currently India has over-achieved the target and is well on track to ensure that more than 50 per cent of our installed capacity will come from renewable by 2030,” it said in a statement. Source: PTI

SEPTEMBER 2019-D

INDIA

IEEFA India: Renewable Investment on Track with Right Policy Framework

Opportunity of US$500-700 billion investment in coming decade for international investors

“The proposed tariff policy revision and the payment security mechanism enhancements are both significant regulatory reforms, while removing the priority lending limit for the renewable energy sector will accelerate private bank lending to renewable energy infrastructure projects.”

- Kashish Shah,

Research Associate, IEEFA

SEPTEMBER 2019-D

ndia will require US$500 – 700 billion in renewable energy and supporting grid investment over the coming decade in order to meet its renewable energy targets, finds a new IEEFA briefing note out recently. Entitled International Capital Awaits Robust Policy Environment in India’s Renewables Infrastructure Sector, the note reviews India’s energy market and finds some recent policy changes favourable for renewable energy investors, but also notes with caution some sovereign risk issues that need to be resolved quickly.

ambitions, including a slow-down in the tendering process, grid integration constraints, and issues with excessively aggressive tariff caps on reverse auctions. As a result, during FY2018/19 India failed to capitalise on the momentum built over the previous two years through record low solar and wind tariffs. Only 10.3GW of renewable generation capacity was added in FY2018/19. Co-author Kashish Shah says the slowdown masks some very positive policy announcements recently, which accelerated tendering activity in June 2019 post the Central election.

Author Tim Buckley, Director of Energy Finance Studies with the Institute for Energy Economics and Financial Analysis (IEEFA), says the world is looking to invest in India’s renewable energy sector. “There has been clear momentum in India’s renewable energy capacity building in the last 24 months, leveraging the expanding opportunities in deflationary sustainable domestic projects,” says Buckley.

Shah said “There is however a need for better coordination between central and state governments to ensure ambitious renewable targets can be met state by state and across the country as a whole.”

“India is set to reach 144 gigawatts of renewable energy by the end of financial year 2021/22. The country has a clear ambition to transition to a cheaper lower emission electricity system, and that ambition is attracting healthy global investment. “Global capital flows will into India will accelerate as long as the Indian government provides a clear policy framework and puts in place measures to lower risks and protect investor confidence.” The briefing note highlights multiple examples of international investment in India’s renewable energy projects, while also noting recent obstacles to India’s renewable

The briefing note concludes the Indian government is successfully paving the way for increased renewables investment that will enhance India’s energy security and drive investment and employment opportunities. For global public and private debt and equity capital seeking steady long-term returns, there is a huge investment opportunity in India’s electricity and transportation sectors to support the development of new generating capacity and grid development by 2030. “India wants to meet its renewable targets while showing global leadership in setting a policy framework consistent with the Paris Agreement,” says Buckley. “Investors are showing a strong appetite to support India’s infrastructure goals, if the government can stay on track. IEEFA believes they can.”

Source: ieefa.org

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INDIA

Japan cautions Andhra Pradesh against reworking green power pacts

The ambassador’s missive to Jaganmohan Reddy comes on the heels of similar letters from power minister RK Singh.

apan has cautioned the Andhra Pradesh chief minister that the state’s efforts to cut renewable energy tariffs by reviewing signed-and-sealed contracts has unnerved foreign investors and damaged the business environment. India’s renewable energy sector has seen a flood of foreign investments with companies from France, South Africa and Europe participating in tenders. Industry executives said Andhra Pradesh’s actions could have severe implications because many renewable energy companies are funded by overseas sovereign and pension funds. “Many foreign investors, including Japanese companies, are now watching closely the situation unfolding in your state regarding the renewable energy sector,” Japanese ambassador to India Kenji Hiramatsu told chief minister YS Jaganmohan Reddy in a letter. The missive has been seen by ET. Two of the biggest renewable energy developers in India have sizeable Japanese investments. While SB Energy is backed by Soft-Bank (along with Taiwan’s Foxconn and Bharti AirtelNSE -5.25 %), one of the largest investors in ReNew Power is the Japanese energy company JERA. SB Energy is committed to commissioning 20 GW of projects in India. The Japanese embassy confirmed the country’s concerns over the developments in Andhra Pradesh.

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‘Will Damage Business Environment’ “Our concern as Japanese government is that if legally binding contracts are not honoured, it would cause significant impairment to the business environment of AP state,” Satoshi Takagi, second secretary in the embassy of Japan, said in an emailed response to ET’s query. Soon after taking over as CM, Reddy had claimed that the previous Telugu Desam Party government had signed wind and solar power purchase agreements (at tariffs higher than other states, and alleged there were malpractices involved. He formed a committee to renegotiate all such PPAs, prompting project developers to move court. The Japanese ambassador advised the chief minister to reconsider the matter. “I shall be grateful if you have the matter re-examined in the context of honoring laws, and also in view of the fact that continued investment in renewable energy is extremely important for protecting the environment and economic growth of your country,” the letter said. The ambassador’s missive to Jaganmohan Reddy comes on the heels of similar letters from power minister RK Singh and the secretary in the ministry of new & renewable energy, Anand Kumar.

Addressing a press conference last month, Reddy’s principal adviser Ajay Kallam had made a specific reference to SB Energy. Kallam had claimed that one of the projects won by SB Energy in an auction by Solar Energy Corporation of India was later cancelled by SECI due to allegations of cartelisation. SECI is the nodal agency of the renewable energy ministry, responsible for conducting wind and solar auctions. Kallam went on to note that SB Energy had won a contract in Andhra too.

At a diplomatic outreach programme held in Vijayawada last week, Jaganmohan Reddy had said that while the role of foreign investors was crucial, distribution companies were in a bad shape and their interests also had to be considered. A win-win situation would have to be found, he added. AP is one of the leaders in green energy with a commissioned capacity of 7,257 mw (of which solar power constitutes 3,279 mw, and wind power is 3,978 mw), according to renewable energy consultancy Bridge To India.

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INDIA

States to face fund cuts for missing UDAY targets The Centre has proposed reduction in power sector funds of the states that would not maintain performance benchmarks set under the second version of UDAY scheme, which is at the draft stage, Power Minister R K Singh said

The government plans the second wave of reforms in the power distribution sector and has shared the draft with states, the minister told reporters here. The Centre in November 2015 had launched the Ujwal DISCOM Assurance Yojana (UDAY) to bring about operational and financial turnaround of debt-laden power distribution companies. “We have planned second wave of distribution reforms and shared the draft with states. We are going to combine the features of UDAY scheme (meant for revival of debt-laden discoms) Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) and Integrated Power Development Scheme (IPDS),” the power minister said.

laborating further, the minister said, “We would add features like system strengthening, expansion of access, loss reduction and reforms in one package. The funds would be targeted towards exceeding those reforms (targets). The funds release would fall if the trajectory of loss reduction (by discoms) and reforms reduce. It would happen quickly.” Finance Minister Nirmala Sitharaman in her budget speech last month had said, “Our government launched UDAY in 2015 aimed at financial and operational turnaround of DISCOMs. The government is examining the performance of the scheme and it will be further improved.” The UDAY scheme was aimed at reducing interest burden, cost of power and losses in distribution sector, besides improving operational efficiency of discoms within a turnaround period of three years. Speaking about controversy over renewable power tariffs in Andhra Pradesh, Singh said, “The Andhra Pradeh Government has clarified that they would not open all PPAs (power purchase agreements). It would be only cases, where there is manifest wrong doing.” Source: PTI

PowerGrid board okays investment of Rs 2.5K cr for transmission project in Rajasthan The board has also given its approval for appointment of K S R Murty as chief financial officer (CFO) of the company from August 27, 2019, a separate BSE filing said

tate-run Power Grid Corporation said the company’s board has approved an investment of Rs 2,578.47 crore for an electricity transmission project for a solar energy zone in Rajasthan. The board of directors in their meeting held on August 27, 2019 has accorded investment approval for transmission system for solar energy zones in Rajasthan at an estimated cost of Rs 2,578.47 crore with commissioning schedule as December 2020, a BSE filing said. The board has also given its approval for appointment of K S R Murty as chief financial officer (CFO) of the company from August 27, 2019, a separate BSE filing said.

Murty, a bachelors degree holder in electrical engineering and cost and management accountant, joined NTPC in 1984 and has worked in finance department in NTPC till 1991. After that he joined PowerGrid and worked for past 28 years in various functions of finance including budget, resource mobilisation, financial concurrence, treasury management, books of accounts etc. Murty is not related to the directors or key managerial personnel of the company and is also not debarred from holding the office of CFO by virtue of any SEBI order or any other such authority, it added.

Source: PTI

SEPTEMBER 2019-D

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INDIA

Power Minister Shri RK Singh launches SARAL – ‘State Rooftop Solar Attractiveness Index’ during RPM Meeting Shri RK Singh, Union Minister of State for Power and New & Renewable Energy (IC) and Skill Development & Entrepreneurship, launched the State Rooftop Solar Attractiveness Index–SARAL here, today. The State of Karnataka has been placed at the first rank in the Index that evaluates Indian states based on their attractiveness for rooftop development. Telangana, Gujarat and Andhra Pradesh have got 2nd, 3rd and 4th rank respectively.

Launching the Index, Shri RK Singh said that it would incentivise rooftop solar by creating healthy competition among the States. He encouraged all States to adopt the best practices being followed by top ranking States. SARAL has been designed collaboratively by the Ministry of New and Renewable Energy (MNRE), Shakti Sustainable Energy Foundation (SSEF), Associated Chambers of Commerce and Industry of India (ASSOCHAM) and Ernst & Young (EY). It was launched during the Review Planning and Monitoring (RPM) Meeting with States and State Power Utilities. SARAL currently captures five key aspects –

Robustness of policy framework Implementation environment Investment climate Consumer experience Business ecosystem

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t encourages each state to assess the initiatives taken so far, and what it can do to improve its solar rooftop ecosystem. This will help states to channelize investments that can eventually help the sector grow. In addition, such an exercise is likely to create a more conducive environment for solar rooftop installations, encourage investment and lead to accelerated growth of the sector. The Ministry of New and Renewable Energy (MNRE) has set a target of 175 GW of renewable energy capacity by 2022, of which 100 GW solar power is to be operational by March 2022, of which 40 GW is expected to come from grid connected solar rooftops. The Indian Grid Connected Rooftop PV (GRPV) segment is slowly gaining momentum with substantial interest from entrepreneurs, developers, financial institutions, development banks, end users and government entities. On a very positive note, rooftop solar PV has already achieved grid parity for commercial and industrial consumers and is fast becoming attractive for residential consumers as well.

To achieve our rooftop solar targets, it is important to develop an ecosystem that ensures information symmetry, access to financing and clear market signals. Thus, the MNRE has developed the State Rooftop Solar Attractiveness Index–SARAL that evaluates Indian states based on their attractiveness for rooftop development. SARAL is the first of its kind index to provide a comprehensive overview of state-level measures adopted to facilitate rooftop solar deployment. Power Minister Shri RK Singh chaired the Review Planning and Monitoring (RPM) Meeting with States and State Power Utilities. In his address to the State representatives, he emphasised the need to make Power Sector sustainable and viable so as to ensure 24/7 power supply to all consumers. The Meeting discussed various schemes and issues pertaining to the sector such as Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY), Integrated Power Distribution Scheme (IPDS), UDAY, 24/7 power supply etc.

SEPTEMBER 2019-D

INDIA

Bengal gets proposal for 800 MW solar power project: Minister West Bengal has received a proposal for 800 megawatt (MW) solar power project with an estimated investment of Rs 3,000 crore from a private investor, a state minister said .

Power purchase agreement (PPA), however, will be the key to execute the project, West Bengal’s Power Minister Sobhandeb Chattopadhyay said. “We have received an offer for 800 MW solar power project in a single location from a private investor,” he said at ’10th Energy Conclave’ organised by CII here. Chattopadhyay, however, said the investor was seeking to get the PPA for the project before it proceeds further. Without PPA, bankers are not keen in financing any power project, sources said.

“They already have about 500 acres of land of their possession and have not asked for any assistance in acquiring more land,” the minister said. Chattopadhyay also said there was “no scope” to link this solar project with the proposed 1000 MW Turga pumped storage hydel programme in Purulia. The plan to feed the pumps through 1200 MW solar power plant was scrapped due to unavailability of contiguous large tract of land. Owing to this, the subsidy from the clean energy fund was not received by the state for the project, he said. Meanwhile, a state government official said the state Urban Development Ministry is planning to introduce policy measures for electric vehicles’ charging stations. West Bengal government is also planning to introduce 500 electric buses under the FAME (Faster Adoption and Manufacturing of Hybrid & Electric Vehicles in India) phase II and tenders have been floated for this. Source: PTI

Gujarat can lead renewables race in India: IEEFA In a race to be the top state in India, IEEFA has modelled the economic powerhouse Gujarat adding a staggering 46 gigawatts (GW) of new renewable energy capacity by 2029-30, a new report said The report, “Gujarat’s electricity sector transformation – A role-model of India’s electricity transition”, identifies Gujarat as one of the five leading states for renewable energy in terms of both existing generation capacity as well as future potential.

Tim Buckley, co-author of the report and director of energy finance studies with the Institute for Energy Economics and Financial Analysis (IEEFA), said the Indian government has rightly identified the need to reduce its exposure to imported fossil fuels, including oil, coal and gas, setting the stage for a massive transformation across the country. “The government knows an over-reliance on imported fuels adversely affects India’s trade account deficit and puts the country’s energy security at risk,” Buckley told IANS in a statement. “Setting an ambitious new renewable energy target of 523 gigawatts by 2030 is a clear indication by the central government of the direction the states must pull towards,” he said. “Although Gujarat has incurred the cost of the recent bailout of its unviable imported thermal coal capacity at Mundra, refocusing efforts on continuing its already promising renewable capacity additions would see the state come out on top as the country’s renewable leader.”

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hile Gujarat lifted its renewable energy target to 30GW from 17GW in July, the state could be more ambitious, with the Ministry of New and Renewable Energy estimating Gujarat’s renewable energy potential to be 72.7 GW, equally balanced between solar and wind energy potential. IEEFA models renewables additions of 4-5 GW annually to ensure all of Gujarat’s incremental demand going forward is supplied by renewables. This would be a dramatic shift in Gujarat’s electricity sector composition, with renewables forming 70 per cent of its capacity and 48 per cent of generation by 2029-30. IEEFA notes the incorporation of nearly 55 GW of intermittent renewable energy on Gujarat’s electricity network would require very active measures and investment on the grid integration and balancing front. IEEFA recommends a multi-technology approach with storage solutions of pumped hydro and battery storage, flexible gas peakers, demand response management, faster ramping coal power, solar thermal with storage, rooftop solar plus behind-the-meter storage, as well as continued grid expansion and modernisation.

Co-author Kashish Shah, IEEFA energy analyst, said Gujarat could lead the way in transitioning to a low-cost, low-emission electricity system based on renewable energy sources. “Gujarat is already well in the race for building renewables capacity between states such as Tamil Nadu, Karnataka, Maharashtra, Andhra Pradesh and Rajasthan with similar renewable energy potential,” said Shah. www.EQMagPro.com

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SEPTEMBER 2019-D

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BUSINESS & FINANCE

Sembcorp invests ₹521 crore in Indian renewable business The funds will be used to expand the Singapore-based company’s renewable energy portfolio in India Sembcorp India has announced the commissioning of 200MW wind power projects in Gujarat

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Sembcorp Industries, the Singapore-based energy and urban development company, has made an equity infusion of ₹521 crore (S$101.6 million) into its Indian arm, Sembcorp Energy India Ltd. The funds will be used to expand its renewable energy portfolio in India, a senior company official said.

arlier this week, Sembcorp Industries reported its half-yearly earnings for January-June 2019 with net profit at S$191 million, up from S$159 million in 1H2018, on improved performance from the energy business. Profitability in India continued to improve with net profit growing by 46% from the year-ago period to S$35 million ( ₹179.56 crore). The turnover was S$4.9 billion compared with S$6.1 billion in 1H2018, the company said in a press release.

The equity infusion is for growth, Vipul Tuli, managing director, Sembcorp Energy India, said in an interview. “In the last nine months, we have added 450 megawatts (MW) of capacity and we will add another 350 megawatts now. We’re looking at reverse auctions, Seci (Solar Energy Corp. of India Ltd) auctions. We have over 30 sites in India and there are opportunities to invest in existing sites and expand yields there. This money is to support that growth.” “This is to fund inorganic growth also. We have always looked at acquisitions, but so far, we haven’t pulled the trigger on any. Perhaps in a year or so, we will find something that matches our requirements, when there are exits from financial investors currently owning assets,” company’s managing director Tuli added.

The last time Sembcorp India called on its parent’s resources was when it bought out IDFC’s residual 28% stake in renewable energy joint venture Sembcorp Green Infra for ₹1,410.2 crore (around Singapore $301 million) in September 2017 to mark its entry as an independent power producer in renewables in India. Sembcorp India also announced the commissioning of 200 megawatts in the first phase of its Solar Energy Corp. of India 2 and Solar Energy Corp. of India 3 wind power projects in Bhuj, Gujarat. This takes its total portfolio to 450 megawatts of commissioned wind power capacity under Solar Energy Corp. of India auctions alone. Both the newly commissioned wind farms are connected to India’s interstate transmission system and, the power generated will be supplied to multiple states, the company said in a press release. Under a long-term power purchase agreement (PPA) between Sembcorp and Power Trading Corp. (PTC Ltd), power generated from the Solar Energy Corp. of India 2 project will be supplied to Assam, Jharkhand and Odisha, and power from Solar Energy Corp. of India 3 to Bihar and Punjab. Sembcorp has won bids for another 350 megawatts of wind power capacity under Solar Energy Corp. of India auctions, which will be commissioned by the end of the calendar year, Tuli said. With this, Sembcorp’s Solar Energy Corp. of India and non-Solar Energy Corp. of India portfolio will stand at 1,730 megawatts. Sembcorp India also operates a 2,640 megawatts coal-fired power plant (4* 660 megawatts) in Krishnapatnam, in Andhra Pradesh’s Nellore district, which operated at a plant load factor of 84% in the sixmonth period, Tuli said. This is way above the industry average for thermal power plants in the country, which has hovered around the 55% range in the recent past. Source: livemint

Adani Green to acquire Essel’s 205 MW solar energy projects for Rs 1,300 cr The enterprise value of the acquisition is about Rs 1,300 crore, which will be subject to closing adjustments, if any, on or before the closing date. The consideration would be paid in cash, it added.

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dani Green Energy on August 29 said it would acquire 10 solar energy assets with total generating capacity of 205 MW from Essel Green Energy and Essel Infraprojects for Rs 1,300 crore. “Adani Green Energy has entered into a securities purchase agreement for acquisition of 100 per cent equity interest in ten companies…from Essel Green Energy and Essel Infraprojects,” it said in a BSE filing. The enterprise value of the acquisition is about Rs 1,300 crore, which will be subject to closing adjustments, if any, on or before the closing date. The consideration would be paid in cash, it added. The transaction is expected to be completed by October 15, 2019. The 10 companies have a combined capacity of 205 MW spread across three states — Karnataka, Uttar Pradesh and Punjab.

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The ten firms are — Essel Bagalkot Solar Energy, Essel Gulbarga Solar Power, Essel Urja, KN Bijapura Solar Energy, KN Indi Vijayapura Solar Energy, KN Muddebihal Solar Energy, KN Sindagi Solar Energy, PN Clean Energy, PN Renewable Energy and TN Urja. Source: PTI

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BUSINESS & FINANCE

Waaree Energies ships 2.5 GW of solar modules globally Waaree Energies, India’s largest solar panel manufacturer and a leader in the EPC, has recently cemented its position as the largest module supplier in India. Having a whopping annual production capacity of 1.5 GW, Waaree manufactures 4 MW solar modules every day.

hey have already supplied almost 2.5 GW of modules globally, marking its dominance in the solar power industry. Waaree solar modules have been shipped to 6 continents, across 68 countries. With more than 120 tests performed at various stages of manufacturing, Waaree maintains its quality above global standards. Waaree modules are trusted and financed by over 25 leading banks and NBFCs globally. With the recently extended manufacturing capacity of 1.5 GW, Waaree’s supply chain is successful primarily because of the large scale marquee clients including developers, integrators, and EPC contractors globally. Waaree serves over 5000 customers globally which illustrates the trust gained by the company over a period of 30 years of its existence. As the undisputed leader in the space, Waaree has observed the maximum demand from Western India. This is largely due to their enhanced demand from the C&I sector, while Southern India witnessed an uptick due to the vast farms that are viable for ground mounted plants. The residential segment overall has picked up demand by 60% since 2018 on account of lucrative government policies, while the overall solar PV market witnessed a growth of 40% since 2018.

Our focus always lies in making solar accessible to all, and our post sales service has won us some of the biggest names in the industry, as our clientele. The current clientele also stands testament to the credibility the brand holds in the industry.” Leading the industry through its innovative solutions, Waaree has successfully established its presence across 68 countries, including USA, UK, UAE, Australia, Germany, Italy, Czech Republic, Bangkok, Singapore, and Vietnam, through its module supply. Besides the 2.5 GW of modules that it has already supplied till date, the company has also commissioned over 600 MW of EPC projects in India. Waaree is present in 280 locations in India through its wide channel partner network, and has successfully held its position as a Bloomberg Tier 1 manufacturer consecutively for the past 17 quarters.

Source: waaree

Sunil Rathi, Director Sales & Marketing, Waaree Energies Ltd, says “Waaree Energies has witnessed an increasing demand for clean energy in India and abroad. This is primarily due to the various awareness drives by the RE 100 mission. Moreover conventional sources of energy will now have to attain solar grid parity due to the cost effectiveness and this proposition has become a hit in the corporate segment.

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SEPTEMBER 2019-D

BUSINESS & FINANCE

Actis raises US$1.23 billion in first Long Life Infrastructure Fund Actis, a leading growth markets investor, announced that it has completed fundraising for its first Actis Long Life Infrastructure Fund (“ALLIF”). The ALLIF fund was raised by Actis’ in-house teams and represents over US$1.23 billion of fund commitments plus co-investment, delivering up to approximately US$2 billion of investable capital for this new strategy.

LLIF’s investor base is comprised of leading institutional investors from North America, Europe, Latin America, Middle East and Asia.Actis has established itself as a leading investor in the energy infrastructure space having committed more than US$5 billion to 34 investments across 25 countries – generating 25GW and providing electricity to nearly 90 million customers.ALLIF is a complementary strategy to Actis’ successful Energy business. ALLIF will originate operating infrastructure assets across Latin America, Africa and Asia while driving operational improvements over a long term hold period. The resultant stable contractual cash flows will make these highly attractive assets for investors seeking stable cash yields over time.

The ALLIF business is led by Glen Matsumoto, who joined Actis in 2016 having previously been one of the three founding partners of EQT’s infrastructure business. Glen is supported by partner Adrian Mucalov, who moved across from the Actis Energy business, and a team of investment and operational professionals based on the ground in Actis’ markets.ALLIF has already identified and prioritised an executable pipeline of approximately US$8 billion and has committed to investments which include a 100MW solar PV plant in the Atacama region of Chile which sells power to the Santiago Metro transit system and 137MW of operational wind generation assets located in Brazil.Glen Matsumoto, Partner and head of the Actis Long Life Infrastructure Fund, said:

I joined Actis because I saw a compelling opportunity to build on the firm’s unrivalled expertise and experience in the Energy Infrastructure sector. I am proud to be part of our world class team and I am humbled and gratified that such prestigious and judicious investors are backing the ALLIF strategy to deliver on the opportunity. Torbjorn Caesar, Senior Partner at Actis, said: “Actis is uniquely positioned to deliver the ALLIF strategy- it is entirely complementary to the experience and reputation we have amassed in our existing Energy business, now in its fourth vintage.

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ALLIF provides an attractive risk reward profile to invest longer term in a sector and in markets that we know extremely well. It is fantastic that our investors share our vision for the strategy which I believe will be a significant part of Actis’ future.”Neil Brown, Partner and Head of the Investor Development Group at Actis, said: “Actis has always been a pioneer in mobilising capital to invest in the growth markets. I am enormously proud that we have brought such thoughtful investors on-board for the first vintage of ALLIF – the deep engagement during the fundraise and the appetite for co-invest is a real testament to the strength of the team and the strategy.”Fund counsel was provided by Weil, Gotshal & Manges LLP. Source: act.is

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BUSINESS & FINANCE

LONGi released 2019 semi-annual report showing financial excellence, technology leadership and scale in production LONGi, the world’s most valuable solar technology company with its corporate headquarters in Xi’an, China, released its 2019 semi-annual report to shareholders, reporting stellar financial results and significant capacity achievements.

Strong operating performance Operation revenue in 1H-2019 reached 14.11 billion yuan, a YoY increase of 41.09%. Net profit attributable to shareholders of the listed company was 2.01 billion yuan. Basic earnings per share were 0.57 yuan and weighted average return on equity was 10.17%. At the end of the reporting period, LONGi’s total assets reached 51.616 billion yuan. Its asset-liability ratio was 56.54%, down from the first quarter 2019. Compared to Q1-2019, days of inventory turnover decreased by 18 days and accounts receivable decreased by 19 days. In 1H-2019, LONGi shipped 2.48 billion pieces monocrystalline silicon wafers, a 183% increase over the previous year. Sales of cells and modules reached 712MW and 3,193MW respectively, a 21% YoY increase.

Significant inroads overseas The proportion of LONGi module products sales to overseas markets increased significantly. Overseas sales of monocrystalline modules reached 2.423GW, a 252% increase over the previous year. LONGi’s dedication to monocrystalline technology and leadership in the costperformance ratio of monocrystalline modules took flight as global monocrystalline market share continues to increase. PV InfoLink data of July 2019 projected global monocrystalline market share to increase to 62% in 2019, with further growth trajectory.

Production capacity schedule advanced for greater economies of scale LONGi has previously stated in its three-year capacity plan that:

R&D investment and technological innovation,

Monocrystalline cells capacity will reach 10GW by end-2019, 15GW by end-2020 and 20GW by end2021.

The report showed sustained R&D investments for the development of new technologies and products in LONGi. In 1H-2019, LONGi invested 781 million yuan in R&D, accounting for 5.53% of operation revenue. At the end of the reporting period, LONGi has registered 568 patents. LONGi further reduced the non-silicon cost of products through technological innovations, process improvement and production management. In 1H-2019, non-silicon cost decreased by 31.75% over the previous year. LONGi will continue to invest in technology and the development of best quality product with proven reliability

Monocrystalline modules capacity will reach 16GW by end-2019, 25GW by end-2020 and 30GW by end 2021.

Leading the industry with M6 (166mm) silicon wafer and high power Hi-MO4 module

Monocrystalline silicon rods and silicon wafers will reach 36GW by end-2019, 50GW by end-2020 and 65GW by end-2021.

The company’s current projection is that the production capacity of silicon wafers will be reached one year ahead of schedule, achieving 65GW by the end-2020. In the first half of 2019, LONGi successfully completed Phase 1 of its 10 GW monocrystalline silicon wafer production facility in Chuxiong, Yunnan Province. Phase 2 constructions have been accelerated, to further consolidate economies of scale and match the market demand for high efficiency monocrystalline wafers. In additional, LONGi has also successfully commissioned a 5 GW monocrystalline module facility in Chuzhou, Anhui Province.

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In 1H-2019, LONGi introduced the M6 (166mm) silicon wafer that significantly improves the energy yield of cells and modules. M6 silicon wafer reduced the manufacturing cost per watt and is expected to become the standard size of the next generation monocrystalline silicon wafers. Together with the launch of the M6 silicon wafer, LONGi unveiled the high power Hi-MO4 bifacial PERC module with half-cut cell technology. Based on M6 wafer with cell efficiency up to 22.5% and front power up to 440W, Hi-MO 4 would further reduce BOS cost and LCOE. To date, LONGi has received more than 2GW in its order books for Hi-MO4.

SEPTEMBER 2019-D

international

Solar case: US appeals against WTO panel’s ruling in favour of India The US has challenged this ruling in the WTO’s Appellate Body, which is above the dispute settlement panel. A ruling given by the WTO’s dispute settlement panel on renewable energy or the solar sector in favour of India has been challenged by the US in the upper body of the World Trade Organization.

n June, a WTO dispute resolution panel ruled in favour of India in a case against the US saying that America’s domestic content requirements and subsidies provided by eight of its states in the renewable energy or the solar sector are violative of global trade norms. The US has challenged this ruling in the WTO’s Appellate Body, which is above the dispute settlement panel.

“The US hereby notifies its decision to appeal to the appellate body certain issues of law covered in the report of the panel in US – Certain Measures Relating to the Renewable Energy Sector and certain legal interpretations developed by the panel,” a WTO communication has said.

The panel in its ruling had concluded that the measures of the US are inconsistent with certain provisions of the General Agreement on Tariffs and Trade (GATT). The GATT aims to promote trade by reducing or eliminating trade barriers such as customs duties. In September 2016, India had dragged the US to the WTO’s dispute settlement mechanism over the issue. Washington, California, Montana, Massachusetts, Connecticut, Michigan, Delaware and Minnesota were the eight states providing subsidies.

SEPTEMBER 2019-D

India had stated that the measures are inconsistent with global trade norms because they provide less favourable treatment to imported products than domestic products, and because the subsidies are contingent on the use of domestic over imported goods. Parties to a dispute can appeal a panel’s ruling. Appeals have to be based on points of law, such as legal interpretation — they cannot re-open factual findings made by the panel. Each appeal is heard by three members of an Appellate Body, comprising persons of recognised authority and unaffiliated with any government. Each member of the appellate body is appointed for a fixed term. Generally, the Appellate Body has up to 3 months to conclude its report. The Geneva-based body can uphold, modify or reverse legal findings and conclusions of WTO’s dispute panel and its reports. If the body’s ruling goes against India, the country will have to comply with the order in six-seven months. The ruling in favour of India came at a time when there are trade tensions between the two countries. The US has rolled back export incentives from India under its Generalized System of Preferences programme and New Delhi has imposed higher customs duties on 28 American products. The two countries are also at loggerheads over a number of other disputes at the WTO. The US has challenged certain export promotion schemes of India, while India has challenged the US’ unilateral increase in customs duties on certain steel and aluminium products. Source: PTI

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international

Bernie Sanders proposes ambitious $16T climate plan True to his campaign style, Senator Bernie Sanders unflinchingly targeted the fossil fuel industry in unveiling an extensive $16.3 trillion climate plan that sets some of the most ambitious deadlines proposed yet by a presidential candidate for lowering carbon emissions.

The plan sets a deadline of as soon as 2030 to slash U.S. carbon emissions by 71% below acceptable levels fixed in 2017, but that goal is contingent upon a full-throated federal commitment to 100% renewable electricity and zero-emission cars. Under the plan, fossil fuel use overall would be eliminated by 2050, and fracking and drilling on public land would be banned outright. The proposal is comprehensive with the considerable investment, with Sanders saying his administration could create 20 million new jobs in steel and auto manufacturing, construction, energy efficiency retrofitting, coding and server farms and renewable power plants. Sanders said he would raise taxes on corporate polluters as well as investors’ fossil fuel income and wealth. Those that pollute by way of fossil-fuel generation would see larger penalties, and any lingering fossil fuel infrastructure owners would be required to purchase “fossil fuel risk bond” to pay for disaster impacts. Sanders said he also wants to reverse the 2015 decision by Congress to lifted an import and export ban on fossil fuels.

“We must no longer export any fossil fuels,” the proposal states. “Our coal and natural gas are contributing to increased emissions abroad. We will end the importation of fossil fuels to end incentives for extraction around the world. We can meet our energy needs and ensure energy security and independence without these imports.”

hrough the creation of a Green Climate Fund, Sanders says the U.S. would pledge $200 billion to aid developing countries in their quest to reduce pollution by at least 36% over 10 years. Creating new nuclear reactors is off the table but finding solutions to the existing nuclear-waste problem is very much a priority. “We know that the toxic waste byproducts of nuclear plants are not worth the risks of the technology’s benefit, especially in light of lessons learned from the Fukushima meltdown and the Chernobyl disaster,” Sanders said. “To get to our goal of 100% sustainable energy, we will not rely on any false solutions like nuclear, geoengineering, carbon capture and sequestration, or trash incinerators.” The plan includes new labor protections for workers, too, promising five years of unemployment insurance, guaranteed wages, vocational training and job placement for those who may have lost work in the transition to a green economy. Early retirement for those who can’t work – or choose not to – is also included.

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Sanders says the deal pays for itself in 15 years, funded by fees and taxes assessed on the fossil fuel industry, and helped by ending the government’s $15 billion in subsidies for fossil-fuel generators.Curbing funds the military spends to keep the U.S. globally dependent oil generates $1.2 trillion and another $2.3 trillion could be collected by way of income tax on revenue from jobs created in the renewable energy. The deal also purports to earn $6.4 trillion by selling electricity produced by Energy Department power authorities.Sanders said his administration would invest in energy-storage research and developing more sustainable plastics. He warned that the cost of doing nothing – or falling short of the ambitious goals laid out – is greater than whatever sticker shock the plan might cause voters. “Economists estimate that if we do not take action, we will lose $34.5 trillion in economic activity by the end of the century,” Sanders said. “And the benefits are enormous: by taking bold and decisive action, we will save $2.9 trillion over 10 years, $21 trillion over 30 years, and $70.4 trillion over 80 years.” President Franklin Roosevelt’s New Deal is the inspiration for the plan, but where FDR’s plan fell short for women, minorities and people with disabilities, Sanders vows to be more inclusive. He said his EPA would prioritize environmental justice violations through the Office of Civil Rights, create a special body known as the Office of Climate Resiliency for People with Disabilities, and make job training more readily available for low-income communities. “Federal procurement will prioritize minority-and-women-owned businesses, cooperatives and employee-owned firms and community-owned and municipal enterprises,” the proposal states.

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international “Programs such as the Historically Underutilized Business Zones will be expanded under the Green New Deal to promote job growth in economically distressed communities.” The U.S. would also recommit to the Paris Climate Agreement and finally declare climate change a national emergency as well. While the plan will draw fire from opponents who accuse Sanders of launching a government-funded socialist takeover, the senator says it includes big benefits for small businesses. For instance, instead of subsidies going to big business, the plan buoys small business owners instead with a $31 billion investment in sustainable slaughterhouses, dairy processors and food plants.

“Rampant consolidation in processing has led to a lack of facilities for small-scale, local producers,” Sanders said. “Investing in local facilities will help smaller producers to compete with the Tyson Foods of the world.” Farmers would also see $410 billion in revenue if they’re willing to store carbon in soil and transition to sustainable agricultural practices. Sanders’ Green New Deal is more expensive than other leading Democratic candidate climate proposals: former Vice President Joe Biden has called for $1.7 trillion over 10 years while Massachusetts Senator Elizabeth Warren has called for $2 trillion. While far less expensive, neither plan is as comprehensive as the senator’s 13,000-plus-word proposal. “We need a president who has the courage, the vision, and the record to face down the greed of fossil fuel executives and the billionaire class who stand in the way of climate action,” the proposal states. “We need a president who welcomes their hatred.”

Source: missoulacurrent

Bangladesh signs $185M deal with World Bank for renewable energy capacity The Scaling-up Renewable Energy Project will focus on utility-scale solar photovoltaic (PV) and rooftop PV to expand new markets in renewable energy generation in the country. The government of Bangladesh signed a $185 million financing agreement with the World Bank to add about 310 MW renewable energy generation capacity, which will contribute to reliable, affordable electricity and cleaner air.

he Scaling-up Renewable Energy Project will focus on utility-scale solar photovoltaic (PV) and rooftop PV to expand new markets in renewable energy generation in the country. The project will establish the country’s first large-scale 50MW grid-tied solar PV generation plant in Feni district, implemented by the Electricity Generation Company of Bangladesh (EGCB). To fill the gap in the long-term domestic financing market for renewable energy, the project will also support the Infrastructure Development Corporation Limited (IDCOL) to manage a Renewable Energy Financing Facility for both rooftop and utility-scale solar PV. It will also help Sustainable and Renewable Energy Development Authority (SREDA) identify sites for large-scale projects and promote new net metering policy for rooftop PV.

Since the last decade, the World Bank has helped Bangladesh increase access to electricity in rural areas through renewable energy. Today, Bangladesh has one of the world’s largest domestic solar power program that serves about one-tenth of the country’s population,” said Dandan Chen, Acting Country Director for Bangladesh and Bhutan. “Now, we are going one step further to help Bangladesh expand renewable energy generation on a larger scale. With strong collaboration between the public and private sector, we hope the project will help meet the growing energy demands of the population.”

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The project will help unlock private investment and will aim to raise up to $212 million in financing from the private sector, commercial banks, and other sources.

The project will be important for Bangladesh to tap into its potential for renewable energy generation. Further, it will help reduce a substantive amount of CO2 emissions per year, which is in line with the country’s nationally determined contribution to the Paris climate agreement, said Monowar Ahmed, Secretary, Economic Relations Division, Government of Bangladesh. The $185 million credit also includes a $26.38 million loan and a $2.87 million grant from the Strategic Climate Fund (SCF) of the World Bank’s Climate Investment Funds (CIFs). The credit from the World Bank’s International Development Association (IDA), has a 30-year term, including a five-year grace period, and an interest rate of 1.25 percent with a service charge of 0.75 percent. The SCF loan has a maturity of 40 years, including a grace period of 10 years with a service charge of 0.1%. The World Bank was among the first development partners to support Bangladesh following its independence. Since then the World Bank has committed more than $30 billion in grants, interest-free and concessional credits to Bangladesh. With this project, the Bank’s ongoing support in the energy sector totals close to $2.4 billion, covering generation, transmission, and distribution, including renewable energy. Source: devdiscourse

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distributed solar

Hector Beverages and CleanMax Solar team up to meet 58% of energy need Hector Beverages, the face behind the Paper Boat brand, has partnered with CleanMax Solar to meet 58 per cent of its energy requirement through rooftop solar power at its manufacturing plant in Mysuru.

leanMax Solar has helped the beverage company to commission a 345.6kWp rooftop solar plant at its production unit in the Karnataka city. The move is in line with the clean and renewable energy needs of the Union government to supplement the power requirements for the country. The Bengaluru-based Hector will be able to generate approximately 5,23,000kWh of clean energy annually through the solar rooftop project, abating 430 tonne of carbon emissions. In addition, the solar rooftop project will enable it to meet approximately 58 per cent of its power requirement at a cost which is 30 per cent cheaper than prevailing grid electricity tariffs. Furthermore, the company has received approvals for net metering, which will allow it to export surplus solar power to the grid, thereby saving more than Rs 11 million on its electricity bills annually.

Speaking about the partnership with Hector Beverages, Andrew Hines, co-founder, CleanMax Solar, said, “This project promises to significantly reduce operating costs for Hector Beverages, through our OPEX model of solar power generation. “Moreover, it will further contribute to Hector Beverages’ vision of sustainable manufacturing. In a world in which we are already witnessing the effects of climate change first-hand, Hector Beverages is leading the way by demonstrating its commitment to sourcing of natural materials, including energy. We are proud to be associated with Hector Beverages, and to have helped them to achieve this important step,” he added.

This partnership is all about driving positive change in terms of the food and resources we consume. As a brand, we promote naturally procured resources and we would like to extend this to the way our drinks are manufactured, said Neeraj Kakkar, co-founder and chief executive officer, Hector Beverage. “In keeping with this objective, we are proud to partner with CleanMax Solar, an organisation which shares these values and provides us with an clean energy solution that allows us to offset the greenhouse gas emissions from our manufacturing facilities, as part of our broader sustainability commitments,” he added. CleanMax Solar is India’s largest provider of solar power to corporates and institutions. Since its inception in 2011, it successfully commissioned over400 projects for over 120 corporates, with a total operating capacity of 520+ MW. It pioneered the energy sale model in India, which helped it to become India’s top rooftop installer in 2018 as per Mercom India 2019 report. It is backed by investors like Warburg Pincus, International Finance Corporation and UK Climate Investments. The company was also recognised by the Ministry of New and Renewable Energy with National Excellence Awards for Rooftop Solar Developer and Rooftop Solar EPC Player in 2016. The company has already expanded its portfolio in the Middle-East and is exploring further expansion in other South-East Asian countries.

Source : fnbnews

Second and third phases of solar pumps programme get approval in Maharashtra According to officials from the Energy Department, the state government took a decision in November last year to install one lakh solar pumps in the next three years with an estimated cost of Rs 3,435 crore. The state Cabinet approved the second and third phase of the Chief Minister Solar Pump Programme for farmers to install 75,000 solar pumps across the state. According to officials from the Energy Department, the state government took a decision in November last year to install one lakh solar pumps in the next three years with an estimated cost of Rs 3,435 crore. In the first phase, an approval was given for installing 25,000 solar pumps in November, an official said. “For the second and third phase, around 52,500 pumps of 3 HP, 15,000 pumps of 5 HP and 7,500 pumps of 7.5 HP capacity will be installed. The estimated cost is Rs 1,531 crore for both the phases and the work is expected to completed in next 18 months,” an official said. The official added that there would be a division-wise panel of suppliers and farmers can get pumps from any of them.

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The scheme is intended to provide power to farmers using natural resources and enhance irrigation coverage of farmland in the areas that are not covered under the existing electricity net. Another officials said farmers owning up to five acres land would be eligible for a 3 HP solar-power pump, while those having more than five acres land would be eligible for 5 HP pumps. “As per the demand and considering the geographical situation, the pumps of 7.5 HP will be provided,” the official said. Source: indianexpress

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OPINION

Peak energy, peak oil, and the rise of renewables: An executive’s guide to the global energy system

Namit Sharma, Senior Partner in McKinsey’s Amsterdam office

Christer Tryggestad, Senior Partner, Oslo office

Simon London, A Member of McKinsey Publishing, Silicon Valley office

I 34

Global energy demand is headed toward a plateau over the next ten to 20 years, as the world focuses on electrification, energy efficiency, and more service-driven economic growth.

n this episode of the McKinsey Podcast, Simon London speaks with senior partners Namit Sharma and Christer Tryggestad about their research in the Global Energy Perspective 2019 and where global energy demand is headed in the decades to come.

and climate. To talk through the facts and forecasts, I caught up in Amsterdam with McKinsey senior partners Namit Sharma and Christer Tryggestad. Namit and Christer, welcome to the podcast. Thanks for doing this.

Simon London: Hello, and welcome to this episode of the McKinsey Podcast, with me, Simon London. Today we’ll be talking about energy—the world’s appetite for energy and the sources that feed it, from oil and gas to wind and solar from hydroelectric to hydrogen. It’s a big topic. The numbers involved are, of course, enormous, and so are the implications, not only for economics and industry structure but also for carbon emissions

Namit Sharma: Very happy to be here, Simon. Christer Tryggestad: Thanks a lot for the invitation. Simon London: So we’re going to be talking about global energy demand at the highest level, so where it goes from here. In my not-very-educated, layperson’s way, if you would ask me to guess, I would say energy demand probably tracks global GDP, plus or minus. Is that right?

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OPINION Christer Tryggestad: Historically, that has been a correct observation. If you look at the last 100 years, we’ve seen energy demand grow around two to three percent per year, very much in line with global economic growth. Going forward, though, we see a delinking or decoupling of energy demand growth and economic growth. While we see the economy continuing to grow at a fairly steady pace, we see energy demand decelerating quite significantly. For the next 15 years, maybe down to a bit less than a percent per year from two to three percent. And then from the mid-2030s we even see a flattening or a plateauing of energy demand. Simon London: This is quite historically significant. Isn’t it? This is like an epochal moment. Namit Sharma: I think it’s very significant. There are three or four things driving it. First, the shape of GDP is changing. Christer talked about the past 100 years, it was rapid initialization, first in the big Western economies, then China driving it in the early 2000s. Going forward we will see more services driving our GDP and economy. The energy that you need for services is inherently different or less than the energy used for the rapid initialization.Second, and we all see it, we continue to get more efficient in how we use energy. We all have doublepaned windows, so our heating is more efficient. We have appliances that continue to get more efficient. Our cars, including internal combustion engine or electric vehicles, they continue to get more efficient. That energy efficiency continues to drive down the overall demand for energy. Another big trend is electrification. So not only do we get more efficient, everything is getting electrified, from road transport to people coming into the middle class and buying more appliances. Electricity is something that we think will grow twice the amount where it is today. That electricity is being powered by renewable sources. All this together leads to a point where, yes, we will continue to grow our GDP; yes, the living standards will rise, but the energy that we will need will not track at the same growth

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rate. We will just need less energy. And at some point, I think around 2040, 2050, the energy demand will plateau. Simon London: It will actually plateau? So we think global energy demand will actually reach a peak? Namit Sharma: Yeah. By 2040, 2050. Simon London: Wow. So, Christer, without getting too nerdy, just explain the research and what’s behind it. What do you mean by the reference case? Christer Tryggestad: Behind a lot of the work we do on the Global Energy Perspective at McKinsey is what I call a “big energy demand model” where we model the demand for energy across segments. So it could be road transport, it could be industry, et cetera. We do that across the fuel types, so coal, gas, renewable, and we do that globally. We do it across 150 countries, regions across the world. All that modeling is done bottom-up, where we look at the economics. It’s basically economics driven, whether you build a power plant or whether you buy a car, it’s driven by economic models on every single cell within that demand cube if you will. We don’t take into account regulation, except existing regulation, which is included with forecasted trends. Simon London: But we can’t predict where regulation is going to go in future. Christer Tryggestad: Exactly. What we’re doing then is to say that from the time when the regulation is not forecasted anymore, we have no subsidies, we have no incentives. It’s all based on fundamental economics. Simon London: Namit mentioned electrification earlier. And the electrification of both industrial and consumer segments has been a big driver. Again, as a layperson, I’m thinking to myself, “Why does it matter whether I’m heating my home with electricity or natural gas? Why does it matter whether I’m powering my car with electricity, or gasoline? I’m still traveling the same number of miles.” Is there something inherent about electrification which

reduces demand for energy? Christer Tryggestad: There’s an inherent increased efficiency. Electrical engines are inherently more efficient than combustion engines. Absolutely. That is true. That’s also the main driver of why we see that while the demand for electricity doubles over the next 25, 35 years, the demand for other fuels is practically flat from today until 2050. It’s the efficiency, as you say. It’s also this potential cleanness. If you take electricity and you make it from clean sources, you also get the lowering of the CO2 emissions, which is another driver along with efficiency. Namit Sharma: If you think about how we have been using fuels, we have been burning or combusting them. Now burning or combustion inherently is an inefficient process. And again, I think it might not be true and you might be able to make it more efficient, but inherently it’s different when you’re actually generating energy through other sources than burning or combusting. Simon London: It’s the combination of electrification with the rise of renewables. You put those two things together and it has quite a big, overall impact on how much energy needs to go into the system. That’s a great segue into renewables. Just talk a little bit more, Christer, about what’s going on. How fast are renewables growing, and why? Christer Tryggestad: If you look at the past 20 years or so, renewables have grown from practically nothing, maybe 5, 6 percent of the installed capacity to now close to 50 percent of new installments. If you look forward, you will see a situation where two-thirds, or even more than that, of the power generated in the world is renewable by 2050. Simon London: Oh, wow. Christer Tryggestad: This has historically been driven by regulation, but right now and forward looking it’s driven by economics. For every single country and region we look at, the cheapest source of new powergeneration capacity is a renewable source. It’s either solar or wind, depending a bit on the market. It’s even more strong when you look

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OPINION at 2030, because then you’ll have the situation where it is cheaper to build new renewable generation capacity than it is to use the existing coal- or gas-based generation capacity. That’s an obvious turning point. We used to say that the cost game is practically won by renewables. The discussion is no longer on the cost of the technology itself; it’s now becoming much more of a systemintegration discussion. Because renewables are what we call intermittent—they produce power whenever the sun shines or when the wind blows. You need to make sure that you have power when you need it. That is the whole systemintegration topic, where batteries or other flexible sources of power generation are needed to complement the renewables. Simon London: I must say, again, it’s an eyeopener for me, and maybe I’ve just not been paying attention, but I think it will be an eye-opener for many people. Today in most countries, most regions of the world, renewables are the sensible,economic choice if you’re building new capacity.I wasn’t even aware of that. Christer Tryggestad: Yes, and it’s been happening very fast. It’s no surprise. The cost line of renewables over the past five to ten years has been amazing. That’s the reason. This was not at all the case ten years ago. Simon London: So just decompose renewables a little bit. What are we talking about, and what are the big winners here in terms of technologies? Christer Tryggestad: The main growth technologies are solar power and wind power. Within wind it’s a two-hand segment. It’s onshore and offshore wind. Offshore wind is the newest and the fastest growth technology. It’s still a little bit more costly than the others, but catching up fast. Namit Sharma: Part of it is that there’s a lot of investment that has gone into it. It started a little bit with Germany replacing nuclear and putting subsidies in solar. That was a big push for solar. The cost really came down because it was getting installed at scale. Wind has been

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also getting a lot of investments from a lot of companies. That just leads to stronger learning curves, stronger ecosystems or supply industry. And I think it just drives the overall cost down. Simon London: Is there a role for hydrogen in all of this? I ask that question because we’re here in Amsterdam, and I took a ride in a Tesla from the airport, which was interesting, so electric. I was talking to my driver about whether he liked his electric car, which he did. But he was convinced that the automotive fuel of the future was hydrogen and gave me a long explanation as to why. Where does hydrogen stand in this? Christer Tryggestad: My view is there’s a big role for hydrogen, but not necessarily in light-vehicle road transport. When it comes to lightvehicle passenger cars, the battery technology has already progressed so far, I think it’s hard for hydrogen to catch up. Our analysis shows that around the mid-2030s, hydrogen will also be cost competitive. A big discussion is going to be around how you make that hydrogen. Currently you make it based on natural gas, so steam reforming on natural gas. What we see as renewables grow is you get more price volatility on the power side. You get more times with very low power prices. Then there’s another way of making hydrogen,which is based on so-called electrolyzers, where you basically take water molecules and split it into hydrogen and oxygen, using power. That’s where I think hydrogen will come into play big time, connected to renewables. You actually already see it in some of the recent offshore-wind auctions; there is a link where you also add hydrogen to the solution. Namit Sharma: For me, hydrogen is quite uncertain. Again, in terms of the technology that we’re talking about, whether it’s renewables or electrification, hydrogen is in a different bracket. I think hydrogen does need to de-risk itself. We still need to see a lot of money going into hydrogen. Doesn’t mean people are not playing. Christer Tryggestad: I would make the distinction between the uses of hydrogen and how it is produced. Because already today there’s a lot

of hydrogen being used in fertilizer production, for example. That hydrogen is being made from natural gas. The question is then, “Are there new uses for hydrogen, in addition to what we have today?” Then transport is the obvious question. That’s a big question where the jury is still out. Simon London: Can I just ask you to recap the big numbers around renewables? Christer Tryggestad: Currently renewables is around 25 percent of total power generation globally. Simon London: Power generation is electricity generation, right? Christer Tryggestad: Electricity generation globally. That includes hydro. Most of that 25 percent is probably hydro. So around 20 percent is hydro; the rest is solar and wind. If you look to 2050, around 75 percent of the electricity produced will be based on renewable sources. Hydro will remain at roughly 20 percentage points, but then you have more than half being solar and wind. Simon London: It’s a big growth of solar and wind based on what we know today. Christer Tryggestad: And that is produced power. If you look at the capacity installed, the numbers are even bigger because when you have a solar plant, the amount of capacity needed to produce the same amount of power for solar is higher than for many other sources of power generation. Namit Sharma: The other important point is if you look at the new installations, we see very few new installations other than wind and solar. There are very few, if any, new gas plants built. Simon London: If you look at what’s being built today, where people are pouring concrete and building plants, it’s wind and solar. Christer Tryggestad: Maybe. Simon London: Largely. Christer Tryggestad: No. There are 200 coal plants being built in China. But I think the big shift that we’re

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OPINION seeing due to the competitiveness of solar and wind—and we’ll talk a little bit about the development year by year on our reference case— is that we expect a lot less coal built in that area than before. In the reference a year or a year and a half ago, we had almost a doubling of coal-based power-generation capacity in India. That number is a lot lower in the last reference scenario. The reason is that solar is getting so competitive that you’d rather build new solar and even add some battery storage instead of building new coalbased power generation. Simon London: That underlines what a fluid situation it is. To some degree, because the economics are changing, national policies are changing, regulation is changing, the reference case, again, is our best guess based on some serious modeling, but it’s going to move. What does all of this mean for oil? And when will we hit peak oil production? What’s our latest thinking? Namit Sharma: So peak oil demand—we’re probably at more oil than we need. Let’s talk about the big sectors of oil. Road transport is a big sector for oil. We need less oil for road transport, given the EV [electricvehicle] uprising. Chemicals is also a big growth sector for oil, with plastics and all that stuff, that segment continues to grow. We will need more oil for chemicals. I think there’s an increasing realization, mainly in Middle East, to stop using oil for power generation. That might sound strange, but Middle East was still using a lot of oil for power generation. Pluses and minuses overall, we see in our reference case, over the next ten, 15 years, oil still grows by ten million barrels a day. For anchor today, we use around 100 million barrels a day, so over the next 15 years, ten years we get 10 percent growth for oil. In our reference case, apparently, that’s when it peaks. After that we see a decline in overall demand for oil. Simon London: And that peak comes roughly when? Namit Sharma: Around 2033. But I have to be careful. We can talk about stories here, but I think four years ago we were putting oil demand peak as a sensitivity in our models.

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Christer Tryggestad: It was not part of the reference. Namit Sharma: Right. It was not part of the reference case. Before last year oil was peaking in 2047. Now we are saying oil peaks in 2033. If you actually, and given this reference case, as Christer said, we talked to all our global experts to understand what’s going on and in some ways we have to build some sort of consensus. We also did an accelerated case. If you look at a couple of tipping points, like the EV uptick in China in 2020, if you look at the policy targets from the government and the OEM targets that are coming up, if you look at the regulations on plastics, we could actually see a further decrease in oil demand, especially in road transport, especially in chemicals, and you actually can see a peak in oil demand over the next decade. Now, what does it mean? In the end, you could also say it means that instead of growing at 1 percent it will probably grow at zero percent or a bit negative. But you have to understand it’s a commodity that declines every year by 3 to 5 percent. We will continue to need oil, even if the oil demand peaks. However, it will be a new concept, and we have to see how the geopolitical producer landscape aligns itself to this new reality whenever it becomes very clear. Christer Tryggestad: In many ways, you can say that the question of when oil peaks is less important than the question of what happens afterwards. In the reference case you could almost say that oil plateaus. There is a decline rate of 0.5 percent or something a year until 2050. But it’s relatively little compared to the 3 to 5 percent natural depletion of the oil fields. In the accelerated scenario, in the sensitivity, we see a much steeper decline after the peak. The peak comes earlier, next decade, and the decline is steeper, two and a half percent per year. That means that you get a lot closer to the natural depletion rate and probably it will have a much bigger impact on the dynamics on the industry than if you had the reference scenario. Simon London: You mentioned industry dynamics there. And, of course, a lot of the same companies that are big in gas are big in oil, so just compare the outlook for oil. What’s the outlook for gas?

Christer Tryggestad: Gas, our analysis shows, is inherently more resilient than oil. And you can say that there are three main reasons why this is so. First, in many places gas is replacing a dirtier fuel, coal. A big driver, in many cases, of energy transition, is the climate. That is a positive. The other positive driving the resilience of gas is that even in a system where you have a lot of renewables, so you have the renewable transition, you need flexibility in the system, as I talked about. That is naturally provided by natural gas. Simon London: And this is the baseload concept. You’ve got your renewables, but they tend to be quite volatile in what they’re producing and when, so you still need this baseload and gas provides that. Christer Tryggestad: So in the evenings in a place where solar energy is important, you need something else too. In the Netherlands, for example. The third reason is that gas is, to a large extent, used in what we call hard-to-abate sectors. You use a lot of gas in the industry for medium and hightemperature heat. That is one of the sectors that is hardest to abate or to replace. Simon London: What’s an example of that? Christer Tryggestad: Metals products is a typical example where you need high, high temperature. Simon London: So if you’re smelting something? Christer Tryggestad: You burn the gas to get the heat. And to electrify that is quite tricky. That’s the reason why inherently, gas is more robust than oil demand. Even though for gas we see a peak or a plateauing towards the end of the period in the latest reference case . Simon London: Which is 2050? Christer Tryggestad: In the 2040s, we see gas peaking. Actually in the mid-2030s we see gas peaking. But it’s really plateauing, not declining sharply. There is one big black swan here on gas, and that is hydrogen. And it’s electrolyzer-based hydrogen. Because the alternative for natural

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OPINION gas in many of the hard-to-abate segments or sectors would be to use hydrogen based on electrolyzers. There’s a lot of scaling discussions and different discussions around that, but that, for me, would be the one black swan. Simon London: So it’s possible that we could get this substitution of hydrogen for gas and some of these industrial applications. And that could change the picture. Christer Tryggestad: Exactly. We could get the substitution of hydrogen for gas in some models, and, where we use the hydrogen based on gas, we could get a substitution to hydrogen based on electrolyzers. Simon London: And then what about coal? It tends to be the most greenhouse-gas-emitting fuel source. What’s the future of coal in all of this? Namit Sharma: Coal is an interesting story. But I think one thing is pretty clear: coal is going to decline massively, for the reasons that you pointed out. In our analysis we see coal demand going down 40 to 50 percent from current levels over the coming two to three decades. However, it will still remain in the system. And I think, as Christer mentioned before, there are still some coal plants planned to be built in Asia. Over time as our power systems develop based on renewable technologies, you might see further phasing out of coal. Christer Tryggestad: When we say that there’s a 40 percent decline, that’s almost exclusively driven by China. And many other places it’s flat or some places even a slight decline in the coal demand. Simon London: So China is moving aggressively to phase out coal, but because it’s such a big part of the energy system in China that does not happen overnight. That’s for sure. Namit Sharma: Indeed. Simon London: That’s a big takeaway for me from all of this research is despite these very big moves going on, on a number of areas, and this is an apt metaphor, but it is like turning the supertanker. The global energy system is like a supertanker in that it’s got this momentum; there’s a huge amount of sunk capacity and infrastructure and industry structure around it. That does not change

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overnight. And you’re talking decades, not years, to look at these trends. Namit Sharma: Indeed. It’s a complex system, so you also need to be careful because not all fuels are easily replaceable. That’s why when we talk about the implications, we do need to take into account that indeed there are some sectors where the growth is, but you will continue to need some other fossil fuels where economic rent can still be made. Simon London: Right. Let’s segue from there into greenhouse gas emissions [GHG]. Based on the modeling that we’ve got, what are the implications for GHG emissions and where are we? People tend to use the Paris scenarios. Namit Sharma: I think there’s good news and bad news. The good news is, based on all of the stuff we have talked about, the carbon emissions will decline. I think they’ll be 20 percent lower by 2050 than where we are today. And that’s in the reference case. However, I think the bad news is that they still remain far away from the two-degree pathway laid out in the 2016 Paris Agreement. Even in an accelerated scenario, we don’t see achieving this two-degree scenario laid out in the Paris Agreement.

have digested a lot of this. This is their business. What’s their response? How are they responding to this? Namit Sharma: I think it’s good to understand that companies are nuanced. You have the super, big global players. You have smaller regional players. And you have national oil companies. And, again, I think the conversation is nuanced across these players. But I think there are two dimensions to look at. The first one, as we talked about, the good news for them is we will continue to need oil. If for nothing else, as we decline 3 to 5 percent every year, to put some numbers against it, this means that we need to find 43 million barrels per day of oil, new oil, in 2035. So there’s still a lot of oil to be found and produced. Of course, as some of this transition takes shape, as some of the oil demand goes down, we got a peak in the demand, we need to ensure these barrels are resilient in the price environment that you might get into. That’s the first question on the current portfolio. We have to find oil but it needs to be resilient barrels on the cost curve. There’s a second dimension to the question where power is a growing

Christer Tryggestad: This is one of the challenges we receive on the reference case. It goes something like this. If you believe that climate change is for real, and most people do believe that climate change is real, does it then make sense to have a reference case that fails to reach the twodegree scenario and even more the 1.5 degree scenario to such a big extent? Simon London: Because the argument being that if we are overshooting that pathway, there will be regulatory action. Christer Tryggestad: Exactly. I think the only answer to that is to say that we want to develop, call it the economic, or the financially driven, reference case, and then we are happy to do analysis around that and figure out what will it actually take to get the two-degree or even the 1.5 degree scenario. Simon London: I know you both work with big oil companies, big utilities. Maybe let’s start with oil and gas companies. When you have C-suite conversations, I’m guessing they

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OPINION segment. In some ways it’s the new business. So why would we not look at it? And I think they can look at it, but they also want to be very sharp on their investment thesis. Are the returns the same as my core business? Is the risk the same as my core business? I go down deep in the ocean, drill something versus setting up a windmill on land? It’s a different risk, different return. The other thing is the way you look at opportunities is different. It’s very local. It’s very specific opportunities all across the world. And you need, in some ways, more downstream commercial marketing capability, especially on the retail side. And I think some of them are evaluating options on what this business can mean for them. It’s at least those two dimensions that my oil and gas clients are thinking about. Simon London: And what about utilities? Because this is also a big change for utilities as well, the rise in renewables. You mentioned earlier, Christer, the challenge of integrating renewables into the existing power system. What’s the discussion? Christer Tryggestad: To some extent it’s relatively similar to the oil companies. First, you will expect that because of electrification, it’s a positive

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story because you will have increased demand for power. And that is true. On the demand side, the story’s probably much more positive than for the oil and gas companies. However, it’s a pretty big shift going from traditional, large, centralized power generation based on coal, gas, hydro, nuclear towards more renewables like wind/ solar type of generation. Higher upfront capex [capital expenditures], less opex [capital expenditures]. Often smaller margins. So it’s also quite a big change also for utilities. And you also get new competitors coming, like the oil companies, like the oil majors that are gigantic companies with big financial muscles. You also see more lightfooted renewable specialists, like solar developers. So you face a completely new competitive environment where I also see many of the traditional utilities trying to find their way and find a new competitive model for them to survive and prosper.

utilities, and Christer, you might agree, but it’s actually pretty simple. They need to figure out how to win in their current business, which is changing but they don’t have the choice like the other companies.

Simon London: So, again, the industry dynamics are changing, and that will raise the question again of competencies, like what actually are we good at?

Simon London: Great. And thank you, as always, to you, our listeners, for tuning into this episode. To learn more about McKinsey’s latest Global Energy Perspective, please visit McKinsey.com or check out the McKinsey Insights app.

Namit Sharma: The good thing for

Simon London: Power is not going away. Far from it. Namit Sharma: No. And they’re not getting into oil and gas. So in some ways the question is simple. The answer, of course, is very complex given all the complexities that you mentioned. Simon London: So I think that’s all we have time for today. But Christer and Namit, thank you so much for joining. Christer Tryggestad: Thank you, Simon. It was a pleasure. Namit Sharma: Thank you.

SEPTEMBER 2019-D

SOLAR ENERGY

AI For Greener Good

Solar Panels Too Can Benefit From AI

40Â

he surface where the sun hits, therefore, becomes quite crucial. The amount of energy tapped depends on the surface area and other material properties. So, what is the link between how a surface is designed and artificial intelligence It is no secret that AI has become well-suited to a host of day-to-day problems. The secret sauce of AI is optimization. So, one can easily connect the dots between how AI can be used to manipulate material properties. For solar panels, especially the coatings on its surface influence the reflectivity of the panel, which in turn affects the power generated per unit area.We canâ&#x20AC;&#x2122;t just give away larger spaces for power. The panels should be compact and should pack a punch. In what can sound as a bizarre interdisciplinary cross over, researchers at the University of Auvergne in France tweak in evolutionary algorithms to achieve greater levels of optimization. The class of algorithms that they used, called differential evolution (DE), has proven particularly successful for optimizing of photonic structure of a nanoscale-size coating. Previous research and manufacturing techniques used mathematical functions such as Gaussian and exponential functions to determine the structure of AR coatings. This algorithm, however, was able to find a structure with half the thickness of those obtained by traditional approaches.

SEPTEMBER 2019-D

The first demonstration of photovoltaic effect took place in the mid 19th century but it took more than a century for this discovery to come to fruition in the form of solar panels. Solar panels work on the principle of using the radiation of the sun to generate charge that can power a myriad of devices.

Changing Photonic Structures Using AI The whole premise of this innovation is based on the fact that thinner coatings are potentially better at letting light through. So, in this AI-based approach, the researchers aimed to manufacture a thinner anti-reflective (AR) coating, which can be used to maximize the light available to photovoltaic solar panels. At its core, this technique optimizes the pattern and structure of an anti-reflective coating based on its thickness by applying a biologically inspired AI algorithm to the design process. The overall goal is to refract, rather than reflect, incoming light at a wide range of frequencies and angles. By giving the DE algorithm a specific thickness to optimize for, the researchers were able to outperform traditional techniques. The results demonstrate the feasibility of nanostructured AR coatings. Though this work could have implications for lenses and other components that rely on controlling reflectivity to increase optical efficiency, the most important benefits could be in applying AR coatings to the silicon in photovoltaic (PV) solar panels. Such coatings already provide a significant boost in efficiency for PV cells, and by replicating that improvement with fewer layers and less overall thickness, the researchers hope to contribute to making solar generation even more cost-effective.

Future Direction

The hunt for finding a sustainable clean energy solution has never been this vigorous. Researchers are finding out new ways to address the shortcomings. This research is an example of employing AI concepts and theory to advance materials science. India with its renewed focus on clean, renewable energy has to tap into technologies to undertake large-scale sustainable power projects and promote green energy. According to the Department of Commerce, a total of 47 solar parks with generation capacity of 26,694 MW have been approved in India up to November 2018, out of capacity of 4,195 MW has been commissioned. Solar capacity has increased by eight times between FY14-18. India added record 11,788 MW of renewable energy capacity in 2017-18. With innovations such as above, countries like India, where there is a dire need for cleaner energy resources, will benefit immensely. The improvements can be at the nano level but the outcomes will be on a much larger scale. The growth of algorithmic based solutions have time and again proven to be profitable and are believed to usher myriad of applications given the alarming need for cost-cutting and climate saving strategies. Source: analyticsindiamag

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SOLAR projects

GoodWe Powered Coca-Cola Beverages Hindustan Factory On 29th of July 2019, Coca-Cola Beverages has announced their newly built 897kWP Solar plant on its factory rooftop located at Sanand, Ahmedabad, India, which was completed by TATA Solar Power. The plant is set to produce over 1,524 GWh units of Solar Electricity every year, thereby helping save more than INR 13.7 Million per year on energy bills. Moreover, the reduction of the CO2 footprint is equivalent to planting 1 million fully grown trees by only using 12 GoodWe three-phase 6KW MT inverters.

s a Fortune 500 company, CocaCola emphasizes on quality products and perfect service, which would help secure investment payback and guarantee the longevity of the power plant. Coca-Cola particularly selected GoodWe inverters for their rooftop projects, thanks to the low grid-connected current harmonics and wide MPPT range. The GoodWe MT inverter can adapt to different kinds of grid. With 50% DC Input Oversizing and 15% extra AC Power output, it provides the user with a faster and higher return of investments. With leading topology and an innovative inverter control technology, the MT Series is achieving up to 99% efficiency and 98.5% based on European standards. The four MPP Trackers ensure that the outputs of connected PV modules are able to generate the highest yields. All these factors were taken into consideration while engineering this inverter, processing and understanding different aspects of energy harvesting. GoodWe also offers an unparalleled pan-India after-sales service with a local team of 12+ engineers. GoodWe ensures and guarantees their customers receive the highest quality of service available.

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As a leading Inverter supplier for TATA Solar Power, GoodWe continues to support new projects, thus benefitting from each otherâ&#x20AC;&#x2122;s existing reach and connections. The launched power plants are set to produce a substantial amount of solar electricity and to have a significant impact on the global CO2 emission, lessening our carbon footprint and providing for a greener and brighter future. GoodWe SEA and India Region representatives have also commented on the past collaboration, emphasizing that the relationship between Indian Customers and GoodWe is very valuable as they treasure this market and the relations built. GoodWe has made evident to be a highly reliable and quality-orientated manufacturer and will continue to be and to strive for constant improvement. Source: goodwe

SEPTEMBER 2019-D

41Â

SOLAR PUMPS

PM-KUSUM scheme

Solar pumping scheme by MNRE Author: Satya Galla, Senior Analyst, Mercados Energy Markets India, Provides advisory services to IPPs, Lenders, PSUs, and governments

With objectives of Water security to farmers, Utilization of degraded land of farmers, Additional income to farmers by selling surplus power toDISCOM, Water conservation, Reduction of burden of subsidy to agriculture sector, MNRE has issued the PMKUSUM scheme on 8 March 2019 with following three components • Component A:10,000 MW of Grid Connected Solar or any other RE Plants (500 KW to 2 MW capacity) • Component B:17.50 lakh standalone Solar Agriculture Pumps (up to 7.5 HP) • Component C:Solarisation of 10 Lakh grid-connected Agriculture Pumps (up to 7.5 HP) These three components together makes about 25,750 MW by the year 2022 with a Central Financial Support of Rs.34,422 Cr. Component A and Component C are to be implemented on pilot basis for the year 2019-20 with a target of 1000 MW under component A and 1,00,000 pumps under Component C. While Component B is to be implemented on continuous basis since stand alone pumps scheme is just continuation of the already existing scheme.

National Solar Mission

With approximately 750GW huge potential and various commitments at multilateral forums to reduce the carbon emissions, Government of India has announced Jawaharlal Nehru National Solar Mission (JNNSM) with an ambitious target of installing 100 GW by 2022. Since then, solar PV installations have been increasing with greater pace and the PV technology has emerged so reliable that it can be scalable to GW level and can be used in appliances at few Watts level as well. To leverage this technological advantage Government of has been announcing various schemes such as

SEPTEMBER 2019-D

Solar Irrigation Pumps, Solar Streetlights, Solar PV off-grid systems etc. One such prestigious scheme is ‘Pradhan Mantri Kisan Urja Suraksha evem Utthan Mahabhiyan (PM KUSUM)’.

Component A Decentralized Ground/Stilt Mounted Grid Connected Solar or other Renewable Energy based Power Plants

Solar Pumps in India

So far,Solar Pumps have been under the Offgrid and Decentralized Solar Applications scheme of JNNSM with the name of ‘Solar Pumping Programme for Irrigation and DrinkingWater’. It has targeted installation of 1 million solar pumps by year 2020-21. As on 31 March 2019, 2,37,120 solar pumps have been installed in India, highest in Chattisgarh state with 61,970 pumps.

RE based plants with a capacity of 500kW to 2000kW can be set up on barren/ cultivable lands (stilt basis) within 5KM radius of any of 33/11, 66/11, 110/11kV substations, and sell to DISCOMs to at pre-fixed lelized tariff with a PPA tenure of 25 years.In case the cumulative capacity applications at substation level is beyond the Substation available capacity, then the Tariff would be determined by bidding. DISCOMs may use the energy procured to fulfill their RPO targets. MNRE provides Procurement Based Incentive (PBI) of Rs. 0.40/kWh or Rs.INR. 6.60 lakhs/MW/year whichever is lower, upto 5 years from COD. The plants are to be commissioned within 9 months from released on Letter of Award, with an additional 2 months period with penalties.

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SOLAR PUMPS

Component B â&#x20AC;&#x201C; Standalone Agricultural Solar Pumps Under Component-B farmers can set up pumps with capacity upto 7.5HP for reasons where grid supply is not available. CFA of 30% of the benchmark tender cost whichever is low shall be given by MNRE and state government shall give 30% subsidy making it to a total of 60% subsidy. Bank finance may be made available for 30% of the cost whereas the remaining

10% is to be borne by the farmer upfront. Guidelines have mandateduse on only indigenously manufactured solar cells and modules, pump and other balance of system. Component C â&#x20AC;&#x201C; Solarisation of 10 Lakh Grid Connected Agriculture Pumps Under this component, existing grid connected agricultural pumps are allowed to install solar PV capacity up to two times of the pump capacity. It is mandated to use

only indigenously manufactured solar cells and modules. Subsidy of 30% from MNRE and 30% from state is provided. There are two modalities proposed under this scheme to inject excess energy to grid, i.e. Netmetering and Pump to run solar power only. Netmetering method is similar to howthe rooftop solar net metering operates, whereas in the other method no power shall be drawn from the grid to run the pump but the excess generation shall be exported to the grid.

Current Scenario MNRE has already issued Specifications, standards, and testing procedures of the pumps. It has also issued benchmark costs for solarisation of grid connected agricultural pumps. Allocation to states for the year 2019-20 has also been done for the three components. Since most of the plants under Component A are expected to be connected to sub stations in rural areas it is to be seen whether must-run status as provided under these guidelines can be fulfilled. With the current efforts to provide 24x7 power across India, it is expected to be fulfilled. However, implementation of Component-C (Solarisation of grid connected agricultural pumps) can be challenging considering that the rural agricultural feeders to which pumps are connected, are current not energized on 24-Hour basis. To feed excess energy to the grid, the feeders must be live for entire day time at least.

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SEPTEMBER 2019-D

43Â

technology

A 19.9%-efficient ultrathin solar cell based on a 205-nmthick GaAs absorber and a silver nanostructured back mirror Hung-Ling Chen, Andrea Cattoni, Romaric De Lépinau, Alexandre W. Walker, Oliver Höhn, David Lackner, Gerald Siefer, Marco Faustini, Nicolas Vandamme, Julie Goffard, Benoît Behaghel, Christophe Dupuis, Nathalie Bardou, Frank Dimroth & Stéphane Collin

Abstract Conventional photovoltaic devices are currently made from relatively thick semiconductor layers, ~150 µm for silicon and 2–4 µm for Cu(In,Ga)(S,Se)2, CdTe or III–V direct bandgap semiconductors. Ultrathin solar cells using 10 times thinner absorbers could lead to considerable savings in material and processing time. Theoretical models suggest that light trapping can compensate for the reduced single-pass absorption, but optical and electrical losses have greatly limited the performances of previous attempts.

SEPTEMBER 2019-D

Here, we propose a strategy based on multi-resonant absorption in planar active layers, and we report a 205-nm-thick GaAs solar cell with a certified efficiency of 19.9%. It uses a nanostructured silver back mirror fabricated by soft nanoimprint lithography. Broadband light trapping is achieved with multiple overlapping resonances induced by the grating and identified as Fabry–Perot and guided-mode resonances. A comprehensive optical and electrical analysis of the complete solar cell architecture provides a pathway for further improvements and shows that 25% efficiency is a realistic short-term target.

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exclusive interview

Mr. Chetan Shah Managing Director Nemji EVPV Pvt Ltd

Q.-1: Dear Mr Shah: After a decade long stint in the solar industry, you have launched a new start – up. Can you throw some light on your new venture? CS: Nemji Solar (Nemji EVPV Pvt Ltd) is a Solar EPC company, undertaking commercial and residential solar power installations. Having a young team of professionals with an experience of more than 3,500 installations of Solar plants and Solar water pumps across the Indian and African continent, the company will be offering value engineering and technical expertise coupled with premium equipment to help its clients’ setup solar plants across roof topsand ground mounted locations. The company is a part of the Nemji group, which will soon complete a hundred years in business, building a legacy of trust and goodwill over the years. Q.-2: You had been a major contributor in building up Goldi Solar and successfully steering the company to a position of a global player with an indisputable reputation of a world class manufacturer of PV modules. DoesNemji Solar have any plans to go into module manufacturing? CS: Yes, along with undertaking EPC projects, Nemji Solar is planning to foray into solar module manufacturing. We will be setting up an ultra – modern facility, with plans to scale it up to 1GW within a specific time span. Weintend to commence operations by April 2020.

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Q.-3: Please tell us about the upcoming manufacturing facility and your product offerings. CS: With this facility, the company plans to implement the latest manufacturing technologies and introduce high quality modules delivering enhanced performance and best generation, undergoing all stringent quality checks and having all the required certifications from reputed international entities. With the inclusion of automated processes like auto bussing, auto curing line and automatic module sorting, our assembly lines will also be fully equipped for half-cut cell, bifacial, BIPV and glass to glass module manufacturing. The company will be introducing a range of modules using Mono and Multi crystalline cells along with catering to client’sspecificrequirements.

SEPTEMBER 2019-D

exclusive interview

Mr. sushil bansal managing director novasys greenergy pvt. ltd.

Mr. Ramesh Bansal executive director Novasys Greenergy Pvt. Ltd.

46Â

SEPTEMBER 2019-D

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exclusive interview Q.-1: Proposed Safeguard Duty on Module/Cells Import…What are your views on this Ans: GoI had imposed decreasing safeguard duty on import of Cells and modules in mid 2018. This was a welcome step by the government to safeguard Indian Manufacturers from the imported cells/modules. The demand for Indian modules have undoubtedly increased. It was earlier apprehended that the PPA price would increase due to increase in the module prices. But it was evident that there was hardly any impact on the PPA price due to SGD. Q.-2: What is your suggestion regarding Safeguard duty to Government / Foreign Module Makers / Indian Manufacturers / Developers / Policy Makers / Regulators etc.. Ans: It is observed that due to short tenure of this SGD, few project developers delayed their project execution plan. So, there is a need of long term commitment from the government to bring clarity in the Indian market. Foreign module makers should invest in India be competitive in the market. Developers should also promote Indian modules from the makers who produce good quality products. Q.-3: Upcoming & Trending Opportunities with Bifacial , PERC, Wind-Solar Hybrid, Floating Solar etc… Ans: Bifacial modules are gaining the momentum among the solar industry. Since the industry is continuously seeking improvement in the generation, Bifacial is a boon to the industry. Bifacial modules generate 10-30 percent more energy than regular modules once properly installed because of the extra power generated from the rear side. It possesses additional advantages in grid balancing and extreme weather conditions such as snow and desert environments where their energy gain can be even higher. Currently the deployment of bifacial panels on a large scale basis is already happening in USA, Europe and Middle east. It will soon be adopted by developers in India as well. PERC is also a latest addition to the solar technology, which increases the efficiency of conventional mono panels by at least 1-1.5%. This is already trending in India and China. In fact, most of the cell manufacturers in China have already shifted to produce Mono Perc. Q.-4: World Market Scenerio including China and its impact on pricing and availability of modules in 2019-2020. Expected Pricing & Availability in 2019? Ans: Solar Module prices are getting stable now & we don’t expect any major increase or decrease in module prices. To meet the current demand of local or world market, there are sufficient existing manufacturers as well as there are new manufacturing setups which are also coming up. We don’t see much gap in demand & supply. However, new markets are emerging in the middle east, Latin America and Africa. These markets apart from India are going to be on prime focus for most solar developers/manufacturers. Q.-5: What according to you is the current opportunities, biggest challenges, in Indian Solar Market. Ans: Govt. Policies are very supportive that has created good demand in the market. Govt. policies such as Make in India, Kusum Yojna, Suabhagya scheme etc are supportive of Indian manufacturers. Rooftop solar is going to be next driving force for the solar industry. However, the biggest challenge in the market is that many manufacturers compromise on quality to compete in the market. Availability of cost effective with good quality of raw material is another challenge for manufacturers.

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Q.-6: Expectations from Indian Government Budget next year ? Ans: Govt. should continue promoting Indian Module Manufacturers with policies & also invest or finance Solar Cell manufacturing setup with backward integration. Another major challenge with the solar manufacturers/integrators is the inverted GST. This must be addressed by the govt. There is also a need of long term anti dumping/safeguard duties on the imported modules until the industry matures to stability. Q.-7: How much modules have you supplied to India till now, what is the target/expectation in 2019-2020 Ans: We are a new player in this segment, however with our state of the art manufacturing set-up with latest German technololgy, we are ensuring better products at very competitive price. We expect to supply very good volumes in fy 2019-20. The location of our factory has logisitical advantage. Also, we are the first and largest module maker in the Vidarbha region. Q.-8: Please describe in brief about your company, directors, promoters, investors, its vision & mission Ans: Novasys Greenergy Pvt. Ltd. has 20Years+ of Energy supply background. We understand the need of Renewable Energy Demand & therefore, has set-up technologically most advanced manufacturing facility of 100MW+ capacity right now. This can be expandable to 300MW in the same set-up with minimum time as per demand from the market. Our group Chairman, Mr. Anant Agrawal is a person with strong communication and business acumen, has great vision towards his contribution to “Renewable Energy Sector”. Mr. Sushil Bansal, Managing Director is a dynamic business leader with degree of B.Tech & MBA (Finance). Under his leadership, company has great vision & plan to grow in the industry Mr. Ramesh Bansal, Executive Director is an young & dynamic Chartered Accountant, who has excellent acumen in managing finance & operations. Q.-9: What is the size of your company in terms of manufacturing capacities, growth chart, future expansion plans, revenues, shipments, ASP’s, financial figures, Ans: We are based at Nagpur which is right at the center of India. Our manufacturing capacity is 100 MW per annum. We can make conventional polycrystalline/monocrystalline modules. We can also make new generation Mono Perc and Bifacial modules. We have plans to increase our capacity to 300 MW in the same premises within a year. We are also looking to grow by at least 30% in the next 3 years. Q.-10: What are your plans for India, your view on the GOI target of 100GW Solar Power by 2022 Ans: We believe, the target of 100GW by 2022 is very much achievable & it can further be increased as solar energy is the need of time. With revolution in storage system, it may grow many folds. GOI is committed to promote renewable energy in all sectors. The International Solar Alliance(ISA) is headquartered in India, with prime objective to work for efficient exploitation of solar energy to reduce dependence on fossil fuels. Q.-11: Kindly highlight your product, technology & company USP’s, distinctive advantages etc… Ans: We have set up highly advanced, with full automation manufacturing unit for producing world class solar modules. We are technically backed up with German engineering. We are an ISO certified company and all quality standards set by ISO are followed in our manufacturing process. All machines and testing instruments are periodically calibrated with standards which ensure consistency in our product quality. Proven and tested raw materials from internationally renowned manufacturers are sourced and each raw material is tested and verified to meet all quality parameters. Our modules are tested with inline Pre and Post EL machines which are equipped with very high definition 8 cameras which can detect even the tiniest micro cracks and defects. Our framing machine is fully automated with 4 in 1 feature integrated thus avoiding any manual intervention. Our process is optimized to minimize handling of modules thus eliminating risk of any micro crack generation.

SEPTEMBER 2019-D

exclusive interview

Mr T.S. Jain Director Citizen solar

MR. Harsh jain Director Citizen solar

48Â

SEPTEMBER 2019-D

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exclusive interview Q.-1: Proposed Safeguard Duty on Module/ Cells Import…What are your views on this Ans :I definitely believe in the Make-In-India initiative by our government, but I also believe that how will a safeguard duty on Solar Cells will be helpful. In India we do not have any ecosystem of Silicon to Cell, hence wafers for Solar Cells will still be imported. Also, there are not many Cell manufacturers in India who can support demand of local manufacturers and this means that Cells will still be imported without any pressure as ultimately the cost is going to be passed on to the consumer. So I think such high duties is not favorable and not advisable. Q.-2: Please share your Road Maps – Pricing, Technology etc… Ans :As a company we are on a right path. We have already achieved our set goals and annual Manufacturing target of Modules in Previous Year. We have an in-house R&D team who are constantly working on new developments as well as progressing on to achieve a better yield on regular Poly and Mono Panels. Pricing will increase a bit due to recent safeguard and anti-dumping duties on Cells and EVA Sheet. No significant technological changes in the panels but Twin Peak and Bifacial will definitely attract more consumers who are looking to beautify their buildings and houses along with generating sustainable energy. Q.-3: What is the likely price trend of solar modules in upcoming quarters? Ans :Indian market had somewhat stabilized but the new compulsory made in India indigenous cell usage in upcoming tenders will attract a price rise. I believe the pricing we are looking currently for modules will be anywhere between Rs. 19/- per watt to Rs. 21/per watt.

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Q.-4: Kindly enlighten our readers on the performance of your modules in India in various geographic locations, customer feedback,. Ans :At Citizen Solar, we have a good overall dealer network across India. The average output of our Poly Panels 330wp is 5 units per watt per day in Gujarat, Maharashtra and Rajasthan. In the Northern part of cities the average is 4.9 units. Customers are obviously very happy with this performance and their words in the business circle only has increase our brand name very fast. Q.-5: Solar Trade Wars : What are the benefits to Indian manufacturers / foreign manufacturers Ans :There is never a happy seller or a happy buyer in trade wars. Indian manufacturers have slashed prices of modules at a very fast pace not because of foreign manufacturers but because of local selling pressure. Few big manufacturers are playing a spoil sport in this market. Where we have witnessed that the market leader itself is selling at the lowest rates. Consumers should actually look for better quality & good buyer-seller relations. How can be a bottle neck pricing give a better quality is the question they should ask themselves. Q.-6: Explain various guarantees, warrantees, insurance, certifications, test results, performance report of your modules Ans :Citizen Solar modules are BIS Certified, Certified for PID resistance and Salt mist corrosion resistance, have Positive Power tolerance, Sustain Heavy Wind & Snow loads (2400 pa & 5400pa). Our modules are manufactured is an ISO 9001:2015, ISO 14001:2015 & OHSAS 18001-2017 facility. All Our modules have 25 years output warranty. We have an inhouse laboratory for all the inward Raw Material testing such as Peel Test, Pull Test,Cell Test & Gel Content Test. All the ready to sell panels are passed through stringent Pre-Laminationand Post Lamination EL test, Hi-Pot testing, Inline Automatic Visual Inspection and Wet leakage current test.

SEPTEMBER 2019-D

exclusive interview

Mr. Vikas Jain director Insolation Energy P Ltd 50Â

SEPTEMBER 2019-D

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exclusive interview

Q.-1: How much modules have you supplied to India till now, what is the target/expectation in 2019-20

modules we are also planning for a cell line and a Lithium batter line. This year we plan to do a business of 100 cr.We have target of atleast 25% growth YoY.

VJ: Till now we have supplied almost 80 MW of modules in India 2019-20 has been comparatively better than preceding years and in this FY we will do approx 45 MW.

Q.-7: What are your plans for India, your view on the GOI target of 100GW Solar Power by 2022

Q.-2: Upcoming & Trending Opportunities with Bifacial , PERC, Wind-Solar Hybrid, Floating Solar etc… VJ: PERC is latest trend in solar we have already started manufacturing Mono PERC modules of rating 375 Wp and they performing well However bifacial and hybrid are still under testing phase only. We hope that in near future bifacial modules will gain momentum. Q.3-: Kindly enlighten our readers on the performance of your modules in India in various geographic locations, customer feedback. VJ: We have supplied Modules in nearly all geographic location in past two years ranging from deserts of Rajasthan to Coastal areas of Goa and Indo Sino Border at Ladakh .We have received excellent feedback regarding generation from the customers .Even we have online data available for many projects and our modules are performing really well under all conditions and are being considered as good as any other Tier 1 Manufacturer. Q.-4-: What are the Module Price Guideline on module prices for next Q3-Q4-2019 and 2020 VJ: Modules Prices have seen a drop in prices in Q3 Q4 of 2019 and prices are further expected to decline in 2020 after revision of Anti dumping duty on solar cells which we still need to import. Q.-5: Please describe in brief about your company, directors, promoters, investors, its vision & mission VJ: The Company is being promoted by Vikas Jain & Manish Gupta having experience of over 20 yers in various fields including solar .We are planning for a expansion in near future with some of our investors .Our vision is to see Insolation Energy in Top5 Solar module manufacturer of the country. Q.-6: What is the size of your company in terms of manufacturing capacities, growth chart, future expansion plans, revenues, shipments, ASP’s, financial figures, VJ: Currently our capacity is 80 MW per Annum we are going to make the size double in this fiscal alongwith

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VJ: GOI target of 100 MW is well with in reach although the current fiscal has not been good for solar due to AD on panels and Elections in centre a lot of time has been wasted and many tenders are still in pipeline stage only. There are many problems at grass root level which are to be taken care by the govt. Q.-8: What are your plans for Manufacturing set up in India, the opportunities and challenges in manufacturing in India VJ: Manufacturing in india is a great challenge due to non availability of raw material and backward integration. Our prices are still higher than China and not much laboratories facilities are available .If GOI pushes for make in india Cells and modules then the Indian industry has great opportunity to work Q.-9: Solar Trade Wars : What is Your View ? VJ: Now the Trade war has been started between SEZ companies and the companies located in DTA .As the SEZ manufacturers are not giving Anti Dumping duty on raw material though they are selling in DTA this is biggest trade war between both the factions. Q.-10: How much is your R&D budget as % of your sales / profits VJ: Though ours is a small size company but we still do lot of expense in R & D and updation of our facilities . We belive that company who will invest in R&D will survive in future Q.-11: What are the top 5 markets for your company in the past, present and future VJ: India has been our biggest market as of now but we trying very hard to reach markets of Middle East Africa and Latin America.We hope to get some good orders from these countries in near future. Q.-12: What will be the cost, technology trends in solar pv module VJ: Cost will definitely decline in this fiscal new trends are Twin Peak / Bifacial and Mono PERC WE have already started making MONO PERC modules and are In process of quality updation for Bifacial and Twin Peak Modules.

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exclusive interview

Mr. ramesh nair chief executive officer Adani Solar

Q.-1: Please share your Road Maps with our readers. RN: Multi-crystalline modules continue to be our main product, but we are aggressively moving towards Mono PERC and Bifacial and currently have ~300 MW operational Cell and Module capacity to service international markets. There are good prospects for products such as Multi bus bar, heterojunction and half cut cell modules in the near future. We believe that the India market will soon shift towards Mono PERC and high efficiency multi modules. In terms of binning, we are looking at 345-355 Wp for Multi-crystalline PV Modules in the next 12 months’ time period. With the Mono PERC and Bifacial, we should reach 380-390 Wp in the next 6 months and with the half cut technology, we are targeting to deliver 390-400 Wp in the next 6 months. We are also working on new technologies which will get us to greater than 400 Wp in the next 12 months.

SEPTEMBER 2019-D

Q.-2: What opportunities do you see with Bifacial, PERC, Wind-Solar Hybrid, Floating Solar? RN: We are already ready with products for Floating Solar; we have been spearheading the manufacturing on Bifacial & PERC since inception and leading the efficiency curve amongst the Indian manufacturers with more than 21.5-22.5% efficiency range in the PERC & Bifacial process. Within the PERC, PERT Bifacial technologies are interchangeable most of the times. Our future road map will be more towards improvements at the module level offering lowest LCOE for the final user/ developer. Since the inception of Adani Solar, we have been early adopters of production and manufacturing technology. Adani Solar is India’s first vertically integrated business that offers products along with services across the spectrum of photovoltaic manufacturing. Going forward, we will convert greater capacity from Multi to Mono depending on LCOE trends. We are rapidly scaling up and trials are underway for multi wire or multi bus bars for better reliability, performance and efficiency.

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exclusive interview Q.-3: What are the trends in new manufacturing technology equipment, materials, processes, innovations etc.? RN: Industry is seeing some interesting changes on the PERC, PERT, HJT, TopCon manufacturing where multiple manufacturers are trying new technologies. It is easy to implement new technologies provided the supply chain for the entire value chain supports in terms of wafer availability and technology availability. There are certain technologies that offer very high wattages, but do not support the LCOE benefits at current market conditions due to high input cost. Economy of scale should be driving costs lower and we at Adani Solar are geared to meet the LCOE roadmap. Q.-4: What is the likely price trend of solar modules in upcoming quarters? RN: In the current scenario, solar modules are competitively priced. Further price reduction is unlikely. However, with the introduction of more advanced and efficient solar modules in the near future, there will be a notable reduction in cost of ownership. Q.-5: Kindly enlighten our readers on the performance of your modules in India in various geographic locations, customer feedback. RN: Our performance has been quite phenomenal where our modules have been installed over the last 3 years since inception. We have seen very less degradation - less than 2-2.5% over 3 years’ time period, which is much superior to our warranty terms. We are also performing exceedingly well in the PR (Performance Ratio) comparison data in various plants of our IPP partner companies where we perform superior to PVSYST estimated generation data YoY. Q.-6: Technology road map in terms of 1500V , Double Glass, BiFacial Cells, PERC/PERT Technologies, upcoming game changes technologies . RN: We are the 1st Indian manufacturer to be certified for 1500V System Voltage and Double Glass module for Mono, Multi and Bifacial offering 30 years’ warranty instead of the standard industry practice of 25 years. We are well geared to increase efficiency of Multi, Mono and Bifacial at the cell level on all technologies suiting all segments of the market globally. Our roadmap for the next 12-36 months is more suited towards the LCOE shift of the market, which will end up offering the lowest cost per unit energy. Q.-7: Explain various guarantees, warrantees, insurance, certifications, test results, performance report of your modules. RN: We see industry trends of increased warranty from 25 years to 27 years to 30 years. We are offering 30 years for 2-3 of our SKU’s of Bifacial and PERC. As explained, our degradation for 3 years of field data has been around 2-3%, which is below the stipulated 4%. We are offering 3rd party insurance against insolvency, power and performance, which are certain levers for better bankability. Recently an independent report from a reputed firm rated us as the most bankable Indian module.

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Q.-8: Comment on the warranty claim rate, rejections, replacements etc. RN: Our warranty rate is below 200 ppm – one of the lowest and also the best in the industry over 3 years and almost all the claims are non-technical, which increases the confidence level for our process, technology and reliability. Q.-9: What is the retail market expansion plan of Adani Solar and what are the objectives? RN: We aim to enable consumers, SMEs, MSMEs and institutions to gradually switch towards sustainable solar power at a capex cost which delivers more value. We have successfully activated eight of the fifteen states planned. We aim to achieve greater reach and visibility for our product in the country by bringing down power consumption costs for our consumers across the country and by reducing load on the grids. Q.-10: What are the main markets for Adani Solar? RN: India continues to be one of the most promising markets. We are also present in the United States. There is a significant demand for our products in Northern America. We are also gradually exploring newer avenues in Europe, Australia and the Far East. Q.-11: What according to you are the current opportunities, biggest challenges, in Indian solar market? RN: The Indian Solar Market has come a long way in the last 2~3 Years. We have seen huge swings in module prices due to Chinese dumping which was checked by Government of India’s measures such as Safeguard duty etc. The Government has come up with a host of different schemes and policies to encourage / promote Solar adoption in the country. In order to further grow the domestic manufacturing sector, the government needs to continue its policy push in terms of effective and timely implementation of schemes such as KUSUM, CPSU Etc. Indian Utility Scale customers are now demanding High efficiency Multi / Mono PERC modules in a bid to lower project costs in view of lower PPA tariffs. C&I and Rooftop sector are taking up solar adoption in a big way and are poised to be the main drivers of growth for the next 2~3 years. The biggest challenge in our view is to ensure Asset quality of India’s solar installations by reducing dependence on Lower Quality / Cheaper Imported components such as modules inverters etc. while keeping the price competitive. Q.-12: What differentiates your company’s offerings from competitors? RN: I think the most important offering for any module manufacturer is reliability, i.e. product reliability and company’s reliability. With Adani Solar you get both, as we manufacture cells and modules in-house, we are also looking at more capacity of vertical integration, which will be a one-of-its-kind in India. We are bringing the best quality product backed by the Group’s reliability. That is our differentiating factor from other manufacturers who are only dependent on solar business.

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EXCLUSIVE INTERVIEW

D.V. Manjunatha Managing Director, EmMvee

EQ: How much modules have you supplied to India till now, what is the target/expectation in 2019-2020. DVM: Emmvee supplied 1GW till date and in financial year 2019-2020 target 400MW. EQ: The recent aggressive bidding by various developers keeping Solar Tariffs in the price range of Rs.2.44-3.3 per kWh in various Solar Tenders…What’s your view on the viability, Costs & timeline pressures, Resource Challenges (Materials, Manpower, Execution, Grid Connection, Land Possession) etc… DVM: The recent price bid is definitely very challenging to achieve. The prices of the solar cells and modules are already showing upward trend and we foresee that the prices of cells will continue to grow further due to the strong demand in China and other Countries. This could put lot of pressure on the developers who have bid at such prices. EQ: Kindly enlighten our readers on the performance of your modules in

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India in various geographic locations, customer feedback. DVM: In India too, the company has successfully completed power projects aggregating to a total capacity of 150 MW as on date, which also includes roof top projects. Many reputed developers like BHEL, Tata Power, NTPC, Amplus, IC India and many more have used the modules produced by Emmvee in their projects and are extremely satisfied with the products. The company is also in the forefront in using Green power to meet the electricity needs of its manufacturing facility. It has its own 1MW power plant installed on the roof of its manufacturing facility.Emmvee also very active in EPC space of large solar photovoltaic based power projects. The company has a great deal of experience in developing and commission many power projects in Europe. The company owns and operates 4 power plants in Germany. So far the modules that have been sold in Europe have shown remarkable performance and until now we have not had any claims from our customers in Europe. In fact many customers reported a very good energy yield and performance; they are very much

satisfied with our modules. EQ: Please describe in brief about your company and objectives. DVM: Emmvee is the market leader in solar industry with global presence. From the time of its inception in 1992, the company has always been pioneer in the solar sector, consistently setting new trends with its comprehensive system solutions. Emmvee, manufacturer of photovoltaic modules and solar water heating systems with 2 specialized manufacturing facilities and employs over 700 people. Emmvee is headquartered in Bengaluru. Our objective is to become the global leader in manufacturing highly qualitative, innovative and costeffective solar water heating systems as well as solar photovoltaic modules and systems that will provide clean, reliable energy sources around the world. EQ: What is the size of your company in terms of manufacturing capacities, growth chart, future expansion plans, revenues, shipments, ASP’s, financial figures. DVM: Emmvee, manufacturer of

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EXCLUSIVE INTERVIEW

EQ: What are your plans for manufacturing set up in India, the opportunities and challenges in manufacturing in India? DVM: We already have full-fledged manufacturing facility at Bengaluru at the moment we are having 0.5GW and we are planning to enhance the production as far the market demands.

photovoltaic modules and solar water heating systems with 2 specialized manufacturing facilities in Bengaluru. Emmvee is committed to meet our existing and prospective customers emerging needs in the field of Solar Technology. Anticipating the needs of our Customers/ Clients, the state-of-the-art fully automated manufacturing facility is situated in Bengaluru. Emmvee wants to play a very dominant role in solar PV scene of India. Emmvee has at present 0.5 GW per year solar module manufacturing capacity and has plans to expand as per the market development and needs in future. It produces high quality photovoltaic modules using the latest and best machines; have a unique modular system offering higher productivity with optimized processes. EQ: How much is your R&D budget as % of your sales / profits. DVM: Emmvee invest 2.5% sales towards R & D budget. EQ: What are the top 5 markets for your company in the past, present and future? DVM: India, Germany, South Africa & Middle East countries. EQ: As a manufacturer, kindly share your plans to foray as developer or equity investor in solar PV power

projects. DVM: At Emmvee we would like to focus more into module production. EQ: What are the trends in new manufacturing technology equipment, materials, processes, innovations etc…? DVM: At Emmvee, we are able to do stringing of solar cell at a very high speed about 5550 cells/hrsin a single machine. This machine is very sophisticated and completely automated. The machines can string 5, 6 PERC and bifacial solar cells. PERC solar modules are now getting lot of attention and many companies have already switched over to PERC solar modules. On the materials side, we see lots of improvement in Back sheet designs; they are getting better and cheaper. EVA is being replaced polyolefin silicones which are having better properties and ease to produce modules with these materials. EQ: What’s your commitment towards the solar sector in India? DVM: Emmvee thrive towards qualitative and quantitative optimization in providing customers with Sustainable Wide Ranging Solar Power Solutions.We believe in quality and our infrastructure, specialist staff and engineers, and state-of-the-art process make sure we achieve optimum production quality and well satisfied customer .We are committed to offer highly reliable product and solar power solution.

EQ: Kindly highlight your product, technology & company USP’s, distinctive advantages etc… DVM: Emmvee brings the top class On-grid and Off-grid modules for various applications. It has always been in the forefront of technology adaptation in the manufacturing facility. Emmvee is the first company in India to install high speed stringer and multistack laminators manufactured by German companies. Photovoltaic power can be reliable only if modules are able to perform in the harsh weather conditions for more than 25 years and to achieve this, the module have to meet stringent quality requirements. As the market matures , more and more developers are looking for high quality modules and Emmvee always ensures that the quality requirement of the developers are met through high tech manufacturing process and raw materials . Emmvee sources the raw material from the best companies’ worldwide.

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SEPTEMBER 2019-D

QUARTER RESULTS

Azure Power Announces Results for Fiscal First Quarter 2020

Azure Power Global Limited (NYSE: AZRE), a leading independent solar power producer in India, Recently announced its consolidated results under United States Generally Accepted Accounting Principles (“GAAP”) for the fiscal first quarter 2020 ended June 30, 2019.

Fiscal First Quarter 2020 Period Ended June 30, 2019 Operating Highlights: l

N et income of INR 90.2 million (US$ 1.3 million) for the quarter ended June 30, 2019 as compared to INR 29.8 million for quarter ended June 30, 2018.

O perating Megawatts (“MW”) were 1,609 MW, as of June 30, 2019, an increase of 59% over quarter ended June 30, 2018.

O perating and Committed Megawatts were 3,351 MW, as of quarter ended June 30, 2019, an increase of 57% over quarter ended June 30, 2018.

R evenue for the quarter ended June 30, 2019 was INR 3,389.3 million (US$ 49.2 million), an increase of 40 % over the quarter ended June 30, 2018.

A djusted EBITDA for the quarter ended June 30, 2019 was INR 2,447.7 million (US$ 35.5 million), an increase of 25% over the quarter ended June 30, 2018.

Key Operating Metrics

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Electricity generation during the quarter ended June 30, 2019 increased by 299.3 million kWh, or 75%, to 700.1 million kWh, compared to the quarter ended June 30, 2018. The increase in electricity generation was principally a result of additional operating capacity during the period. Total revenue during the quarter ended June 30, 2019 was INR 3,389.3 million (US$ 49.2 million), up 40% from INR 2,422.5 million during the same period in 2018. The increase in revenue was primarily driven by the commissioning of new projects. Project cost per megawatt operating (megawatt capacity per the power purchase agreement) 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 quarter months ended June 30, 2019 decreased by INR 4.1 million (US$ 0.06 million) to INR 40.2 million (US$ 0.58 million) primarily due to lower costs on account of the reduction in solar module prices for the projects commissioned during the period partly offset by approximately US$ 0.05 million per megawatt payment of safe

guard duties that the company expects to recover. As of June 30, 2019, the Company’s operating and committed megawatts increased by 1,210 MW to 3,351 MW compared to June 30, 2018 as a result of obtaining new projects.

Nominal Contracted Payments The Company’s PPAs create long-term 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 the Company’s 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. Nominal contracted payments as of June 30, 2019 increased compared to

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QUARTER RESULTS

as of June 30, 2018 as a result of the Company entering into additional PPAs.

Portfolio Revenue Run-Rate

Portfolio revenue run-rate equals annualized payments from customers extrapolated based on the operating and committed capacity as of the reporting dates. In estimating the portfolio revenue 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 revenue runrate and estimated annual energy output as of the reporting dates. The portfolio revenue run-rate has not been discounted to arrive at the present value. Portfolio revenue run-rate increased by INR 8,401.4 million (US$ 121.9 million) to INR 25,939.9 million (US$ 376.4 million) as of June 30, 2019, as compared to June 30, 2018, due to an increase in operational and committed capacity. Fiscal First Quarter 2020 Period ended June 30, 2019 Consolidated Financial Results:

Operating Revenues Operating revenue for the quarter ended June 30, 2019 was INR 3,389.3 million (US$ 49.2 million), an increase of 40% from INR 2,422.5 million over the same period in 2018. The increase in revenue was driven by the commissioning of new projects during the period after June 30, 2018 until June 30, 2019. Cost of Operations (Exclusive of Depreciation and Amortization) Cost of operations for the quarter ended June 30, 2019 increased by 36% to INR 296.9 million (US$ 4.3 million) from INR 218.2 million in the same period in 2018. The increase was primarily due to higher plant maintenance cost arising from newly commissioned projects during the period after June 30, 2018 until June 30, 2019.

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General and Administrative Expenses

General and administrative expenses for the quarter ended June 30, 2019 increased by INR 396.0 million (US$ 5.7 million), to INR 644.7 million (US$ 9.4 million) compared to the same period in 2018. General and administrative expenses increased primarily on account of higher payroll costs and one-time charges of INR 264.4 million (US$ 3.8 million) primarily related to management transition.

Depreciation and Amortization Expenses Depreciation and amortization expenses during the quarter ended June 30, 2019 increased by INR 69.8 million (US$ 1.0 million), or 13%, to INR 623.4 million (US$ 9.0 million) compared to the same period in 2018. The increase in depreciation and amortization expense reflected the additional depreciation on new projects commissioned since June 30, 2018, was offset by a decrease in depreciation expense on account of change in useful life, which was effective October 1, 2018. For a detailed discussion, please refer to Note 2(i), to our consolidated financial statements in our Form 20-F for the year ended March 31, 2019.

Interest Expense, Net Interest expense, net during the quarter ended June 30, 2019 increased by INR 486.7 million (US$ 7.1 million), or 45%, to INR 1,560.1 million (US$ 22.6 million) compared to the same period in 2018. Interest expense increased due to additional loans related to new projects but was partially offset by higher interest income on investments during the quarter ended June 30, 2019.

Loss on Foreign Currency Exchange During the quarter ended June 30, 2019, the Company incurred losses of INR 50.3 million (US$ 0.7 million) compared to a loss of INR 204.2 million, during the quarter ended June 30, 2018, primarily due the expense of hedging foreign exchange rates.

Income Tax Expense The income tax expense increased during the quarter ended June 30, 2019 by INR 29.2 million (US$ 0.4 million)

to INR 123.7 million (US$ 1.8 million), compared to INR 94.6 million in the same period in 2018, primarily as a result of higher income from operations.

Net Income The net income for the quarter ended June 30, 2019 increased by INR 60.4 million (US$ 0.9 million) to INR 90.2 million (US$ 1.3 million), compared to a net income of INR 29.8 million for the same period in 2018. The increase was primarily due to higher revenues achieved during the period.

Cash Flow and Working Capital Cash used in operating activities for the quarter ended June 30, 2019 was INR 466.7 million (US$ 6.8 million), INR 283.0 million (US$ 4.1 million) improvement from the comparable period in 2018, primarily due to an increase in revenue during the quarter ended June 30, 2019. During the quarter ended June 30, 2019, additional cash interest paid on loans compared to the same period in the prior year was INR 358.2 million (US$ 5.2 million). In addition, cash flow in operating activities is impacted more in the first and third quarters of the fiscal year primarily related to the semi-annual payment of interest on green bonds. Cash used in investing activities for the quarter ended June 30, 2019 was INR 5,666.6 million (US$ 82.2 million), compared to INR 4,196.0 million for the comparable period in 2018, primarily on account of purchases of property plant and equipment for new solar projects amounting to INR 5,657.8 million (US$ 82.1 million). Cash generated from financing activities was INR 10,742.0 (US$ 155.9 million) for the quarter ended June 30, 2019, compared to INR 4,251.7 million for the comparable period in 2018, primarily due to additional debt incurred related to new solar projects.

Liquidity Position As of June 30, 2019, the Company had INR 11,470.7 million (US$ 166.4 million) of cash, cash equivalents and current investments. The Company had undrawn project debt commitments of INR 10,876.2 million (US$ 157.8 million) as of June 30, 2019.

Adjusted EBITDA

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QUARTER RESULTS

Adjusted EBITDA was INR 2,447.7 million (US$ 35.5 million) for the quarter ended Jun 30, 2019, compared to INR 1,955.7 million for the quarter ended June 30, 2018. The increase was primarily due to the increase in revenue during the quarter ended June 30, 2019.

Recent accounting pronouncement The Company adopted ASU 201602 – Leases (Topic 842) in the quarter ended June 30, 2019 using the modified retrospective approach and elected certain practical expedients permitted under the transition guidance. The transition guidance allowed the Company not to reassess prior conclusions related to contracts containing leases or lease classification. The adoption did not have a material impact to our income statement or cash flow. However, the adoption resulted in increasing the Right of Use asset on our consolidated balance sheet by INR 3,504.5 million (US$ 50.8 million) as well as Lease Liabilities by INR 3,078.4 million (US$ 44.7 million).

Guidance for Fiscal Year 2020 The following statements are based on the Company’s current expectations. These statements are forward-looking and actual results may differ materially. With a robust pipeline and strong execution capabilities, the Company expects to continue to deliver high growth for fiscal year ending March 31, 2020. For fiscal year ending March 31, 2020, the Company continues to expect to have between 1,800 – 1,900 MWs operational. In addition, the Company is reiterating its guidance of revenues of between INR 12,770 – 13,350 million (or US$ 185– 194 million at the June 30, 2019 exchange rate of INR 68.92 to US$ 1.00) for fiscal year ending March 31, 2020.

EXchange Rates This press release contains translations of certain Indian rupee amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise stated, the translation of Indian rupees into U.S. dollars has been made at INR 68.92 to US$1.00, which

SEPTEMBER 2019-D

is the noon buying rate in New York City for cable transfer in non-U.S. currencies as certified for customs purposes by the Federal Reserve Bank of New York on June 28, 2019. The Company makes no representation that the Indian rupee or U.S. dollar amounts referred to in this press release could have been converted into U.S. dollars or Indian rupees, as the case may be, at any particular rate or at all.

Use of Non-GAAP Financial Measures Adjusted EBITDA Adjusted EBITDA is a non-GAAP financial measure. The Company presents Adjusted EBITDA as a supplemental measure of its performance. This measurement is not recognized in accordance with U.S. GAAP and should not be viewed as an alternative to U.S. GAAP measures of performance. The presentation of Adjusted EBITDA should not be construed as an inference that the Company’s future results will be unaffected by unusual or non-recurring items.The Company defines Adjusted EBITDA as net loss (income) plus (a) income tax expense, (b) interest expense, net, (c) depreciation and amortization and (d) loss (income) on foreign currency exchange. The Company believes Adjusted EBITDA is useful to investors in assessing the Company’s ongoing financial performance and provides improved comparability between periods through the exclusion of certain items that management believes are not indicative of the Company’s operational profitability and that may obscure underlying business results and trends. However, this measure should not be considered in isolation or viewed as a substitute for net income or other measures of performance determined in accordance with U.S. GAAP. Moreover, Adjusted EBITDA as used herein is not necessarily comparable to other similarly titled measures of other companies due to potential inconsistencies in the methods of calculation. The Company’s management believes this measure is useful to compare general operating performance

from period to period and to make certain related management decisions. Adjusted EBITDA is also used by securities analysts, lenders and others in their evaluation of different companies because it excludes certain items that can vary widely across different industries or among companies within the same industry. For example, interest expense can be highly dependent on a company’s capital structure, debt levels and credit ratings. Therefore, the impact of interest expense on earnings can vary significantly among companies. In addition, the tax positions of companies can vary because of their differing abilities to take advantage of tax benefits and because of the tax policies of the various jurisdictions in which they operate. As a result, effective tax rates and tax expense can vary considerably among companies. Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of the Company’s results as reported under U.S. GAAP. Some of these limitations include: i t does not reflect cash expenditures or future requirements for capital expenditures or contractual commitments or foreign exchange gain/loss; l it does not reflect changes in, or cash requirements for, working capital; l i t does not reflect significant interest expense or the cash requirements necessary to service interest or principal payments on outstanding debt; l i t does not reflect payments made or future requirements for income taxes; and l a lthough depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced or paid in the future and Adjusted EBITDA does not reflect cash requirements for such replacements or payments. l I nvestors are encouraged to evaluate each adjustment and the reasons the Company considers it appropriate for supplemental analysis. For more information, please see the table captioned “Reconciliations of Non-GAAP Measures to the Nearest Comparable GAAP Measures” at the end of this release. l

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QUARTER RESULTS

AZURE POWER GLOBAL LIMITED CONDENSED CONSOLIDATED BALANCE SHEETS (INR and US$ amounts in thousands, except share and par value data)

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SEPTEMBER 2019-D

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QUARTER RESULTS AZURE POWER GLOBAL LIMITED CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (INR and US$ amounts in thousands, except share and per share data)

AZURE POWER GLOBAL LIMITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (INR and US$ amounts in thousands)

RECONCILIATIONS OF NON-GAAP MEASURES TO THE NEAREST COMPARABLE GAAP MEASURES (INR and US$ amounts in thousands) The table below sets forth a reconciliation of our income from operations to Adjusted EBITDA for the periods indicated:

60Â

SEPTEMBER 2019-D

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SEPTEMBER 2019-D

61Â

electric vehicle

EESL signs its first MoU with a private partner, Apollo Hospitals, to boost EV charging infrastructure Energy Efficiency Services Limited (EESL), a joint venture of PSUs under the Ministry of Power, Government of India, has signed a 10-year Memorandum of Understanding (MoU) with Apollo Hospitals Enterprises Ltd, to install public charging stations in its hospitals across India to boost e-mobility across the country. This is a first such MoU by EESL with a private partner, to set up public charging infrastructure in the country. Under the MoU, EESL will make the entire upfront investment on specified services and deploy qualified manpower for the operation and maintenance of the public charging infrastructure. Apollo Hospitals will provide the requisite space and power connections for the charging infrastructure.

Commenting on the occasion, Shri Venkatesh Dwivedi, Director – Projects, EESL said, “Developing a strong supporting infrastructure is vital to build consumer confidence in electric vehicles. Our MoU with Apollo Hospitals reinforces the role of the private sector in achieving the goal of National Electric Mobility Programme. Electric mobility is vital to reducing airborne emissions and enhancing air quality, a cause the healthcare sector can resonate with. We look forward to more such multi-sectoral partnerships to accelerate the adoption of EVs across the country.” Source: edelman

SEPTEMBER 2019-D

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electric vehicle

Cost of EVs to be at par with combustion engine cars in 3-4 yrs: Kant Kant said India has made huge commitments in the Paris Accord and remains committed to reduce its total pollution by almost 35 per cent, unlike the US which has backed out of it NITI Aayog CEO Amitabh Kant said the cost of electric vehicles will almost become at par with combustion engine cars in the next 3-4 years, largely owing to decline in battery price and India should be ready for this transition. Observing that India has 28 cars for every 1,000 people, much lower as compared to the US or Europe which have 980 and 850 cars for 1,000 people respectively, Kant said this means as India transits towards urbanisation the future will all be electric, shared and connected.

“We will transit towards there as the cost of battery falls from 276 dollars per kilowatt hour (kWh) to 76 dollars per kilowatt/hour. The cost of electric vehicles will almost become at par with combustion (engine) cars in the next 3-4 years,” the NITI Aayog CEO said while addressing a CII event here. Electric vehicles generally use lithium-ion batteries. He said when this happens it is important that India should have done adequate spadework that our three-wheelers, four-wheelers and our buses all become electric in due course and we are able to save a huge amount of crude oil consumption and subsequently the nearly USD 111 billion spent on its import. “We have laid down a policy framework where in the future people will go for electric vehicles, an economic incentive has been created for people to go for this,” Kant observed.

He said, it was critical that as India modernises, the country creates a model of urbanisation where we are able to recycle our water, recycle our waste, where we are able to truly ensure that there is public transportation. Kant said India has made huge commitments in the Paris Accord and remains committed to reduce its total pollution by almost 35 per cent, unlike the US which has backed out of it. “… the speed at which we are going in terms of hydro, in terms of wind energy in terms of rooftop, we will actually be bypassing the targets that we have set for ourselves,” the NITI Aayog CEO noted. He added that the government can at best be a facilitator and a catalyst and the industry’s role was critical in such initiatives. “My personal view is that India’s case there is a huge amount of political will and that is why Prime Minister (Narendra Modi) himself announced from the ramparts (of the Red Fort) that single use plastic has to go out of India. We are launching a massive campaign that the prime minister has announced from October 2,” Kant said. Source : PTI

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SEPTEMBER 2019-D

PV Manufacturing

India’s Safeguard Duty On Solar Panels Is Not Helping Local Manufacturing India’s move to impose safeguard duty on imports of solar cells and modules last year hasn’t helped domestic manufacturers much.To protect local producers, the government had imposed a 25 percent tariff on imports of Chinese and Malaysian solar cells and modules for the first year starting July 30, 2018, and 20 percent and 15 percent for the two subsequent six-month periods, respectively. This came after the Directorate General of Trade Remedies, a unit under the Ministry of Commerce, said that solar panel imports had caused “serious injury” to domestic manufacturing. But despite the tariff, imported solar panels and cells were still nearly 10 percent cheaper than locally made modules, Shashi Shekhar, vice chairman at Acme Solar, told BloombergQuint. The import duty increased the price of Chinese solar panels to 26 cents per watt against the domestic cost of around 28 cents per watt, he said.While import of solar cells and modules from China have declined since the duty was implemented in July 2018, India still imported $1.9 billion worth of panels in the 11 months ended June 30, according to government data compiled by Bloomberg New Energy Finance.

Even after the imposition of safeguard duty, the demand for local solar panels has not increased and manufacturing capacity in the country is still the same,” Sunil Rathi, director of sales and marketing at Waaree Energies Ltd., a Gujarat-based photovoltaic modules maker with a capacity of 1.5 gigawatt, told BloombergQuint over the phone. According to Indian Solar Manufacturers Association, the current installed capacity is 9 GW for solar modules and 3.3 GW for solar cells.

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This has not increased in a year,” Dhruv Sharma, chief executive officer at Jupiter Solar Power Ltd., a module maker with a facility in Himachal Pradesh, told BloombergQuint. “The reason why it was not beneficial to us is because 90 percent of imports are still coming from China

olar Power Producers Prefer ImportsSolar farm developers continue to favour Chinese panels. “We prefer buying cells and modules from China because they are cheaper and more efficient than domestic modules,” Acme Solar’s Shashi Shekhar said, adding that currently, locally-made solar modules cost 29-30 cents per watt. “Domestic manufacturers are not willing to reduce the cost and their technology is outdated.”The average price of modules imported into India (excluding duties) declined by 24 percent from August to December 2018, according to Rohit Gadre of Bloomberg New Energy Finance, because China announced curbs on new capacity addition. From January to May, solar module prices remained steady in the range of 22-24 cents per watt. Gadre doesn’t expect a significant change in prices in the rest of the year.

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PV Manufacturing

Solar cell makers urge Centre to source only from them for Kusum scheme The imposition of the safeguard duty in July last year on solar imports from China and Malaysia and ‘developed countries’ has not done much to domestic manufacturers.

For the projects auctioned before the imposition of safeguard duty, developers can claim pass-through of duty cost in case they deploy the imported modules, Amit Gupta, director of legal and corporate affairs at panel maker Vikram Solar Ltd., told BloombergQuint. “They are inclined to import cells and modules instead of buying it from domestic manufacturers.” Solar power developers are stalling projects to circumvent the two-year time frame, according to Gupta. “For projects auctioned after the imposition of safeguard duty, developers are waiting for the duty’s two-year limit to pass rather than paying more for local solar cells and modules.” Meanwhile, sourcing of solar equipment from Southeast Asian countries where the safeguard duty doesn’t apply also increased over the last year even as imports from China fell. According to commerce ministry data, imports from Vietnam rose from $2 million in July 2018 to $16 million in June this year. Similarly, inbound shipments of solar cells and modules from Thailand jumped from $1 million to $14 million during the period.

Lesser demand for homegrown panels and cells has put local producers in a wait-and-watch mode. Ramesh Nair, chief executive officer of solar cell and module maker Adani Solar Ltd., said the company will expand its manufacturing capacity when policies of the government are favourable and when demand is huge. Imposition of safeguard duty has brought some demand but not to the extent expected, he said. Vikram Solar’s Gupta said the imposition of safeguard duty has not benefited domestic manufacturers and the industry “remains in dire straits”. Source: Bloomberg

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omestic solar equipment manufacturers have requested the ministry of new and renewable energy (MNRE) to stick to the plan of using indigenously manufactured components in the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM-Kusum) scheme. In a letter written to power minister RK Singh, the Indian Solar Manufacturing Association (Isma) said, in the wake of favourable market visibility stemming from the Kusum scheme, existing manufacturers (Adani Group’s Mundra Solar, Jupiter Solar, Premier Solar, Euro Multivision and Renewsys) have short-term investment plans to set up 2,400 MW of solar cell-making capacity. The current installed cell manufacturing capacity is 3,164 MW. In the letter, reviewed by FE, Isma has requested the government to “maintain the resolve to develop a solar manufacturing base in India, which we are sure will happen in the next 15 to 24 months”. It said the government’s mandate on domestic equipment will increase solar-cell manufacturing base to 8-10 GW by 2021. However, “implementation of the above plans are subject to continued demand visibility/ and protection from imports of cells and modules, at dumped prices, from China/Taiwan/Malaysia/ Vietnam and financial closures with Indian banks and institutions”, Isma warned. The imposition of the safeguard duty in July last year on solar imports from China and Malaysia and ‘developed countries’ has not done much to domestic manufacturers. Though it reduced imports by 44% to $2.2 billion in FY19, it was mainly on the back of slower solar capacity additions. The country added 6.5 GW of solar plants in the fiscal, recording an annual fall of 31%. Though falling by more than 50%, China remained the largest source of solar cells in FY19 with imports worth $1.7 billion. However, imports have risen exponentially from other countries with Singapore ($126 million), Vietnam ($92 million) and Thailand ($55 million), recording annual growth rates of 350%, 583% and 625%, respectively, in FY19. In July, Telangana’s Solar Energy Equipment Manufacturers Association had requested the government to roll back the domestic content mandate from the Kusum scheme as it feared that there is not enough domestic cell-making capacity. The government’s other efforts to boost domestic manufacturing have also not fetched positive results. The Solar Energy Corporation of India once again postponed the last date for receiving bids for the manufacturing-linked solar scheme, which seeks to set up 6 GW of solar plants, against 2 GW of manufacturing units. Source: financialexpress

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PV Manufacturing

Solar manufacturers ready to expand if govt gives incentives, curbs imports Leading the manufacturing expansion is Adani Mundra, which is planning to add another 1 Gw of capacity The country’s solar cell and module makers are ready to add 8-15 Gigawatt (Gw) manufacturing capacity annually but want the government to offer them demand surety and restrict Chinese imports.

n a letter to the ministry of new and renewable energy, the manufacturing industry is confident that the Centre will provide them supply exclusivity for the Kisan Urja Suraksha evam Utthaan Mahabhiyan (KUSUM) scheme and several projects of Central public sector companies. Leading the manufacturing expansion is Adani Mundra, which is planning to add another 1 Gw of capacity, followed by Jupiter Solar, Premier Solar and others. The current solar cell manufacturing capacity stands at 3 Gw. The short-term plan is to expand current cell manufacturing by 2.5 Gw and set up another 10 Gw by 2021. The industry plans to add 15 Gw of module manufacturing by same year.

The implementation of these plans are subject to continued demand visibility/and protection from imports of cells and modules, at dumped prices, from China/Taiwan/Malaysia/ Vietnam and financial closure with Indian banks, said the letter by the Indian Solar Manufacturers’ Association (ISMA) to R K Singh, minister of state for power and the ministry. The Centre announced imposition of safeguards duty for two years in 2018 – 25 per cent in the first year, 20 per cent for six months and 15 per cent after that. The duty would specifically impact the solar panels coming from China, as more than 85 per cent of India’s solar capacity is built on Chinese panels. The industry, in a separate petition, has asked the government to consider extending the duty beyond 2020.

While the safeguard duty imposed by the government was a much-needed respite at the time, the duty has given impetus to various loopholes like import practices from Thailand and Vietnam and the acceptance of ‘pass through’ from China. This, in-turn, deterred the business spirit of entrants in the solar manufacturing segment,” said Sunil Rathi, director – sales and marketing, Waaree Energies. The domestic industry is now banking on several schemes wherein domestic content would be preferred. The KUSUM scheme is one of those. The scheme pertains to setting up of 10 Gw grid-connected renewable power plants, each of 500 Kilowatt (Kw) to 2 Megawatt (Mw) in rural areas. This, along with 1.75 million standalone off-grid solar water pumps, will fulfil irrigation needs of farmers. It would include solarisation of existing 1 million grid-connected agriculture pumps that would also allow farmers to sell surplus power to distribution companies and get extra income. With all three, the scheme aims to add solar capacity of 25 Gw by 2022.

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KUSUM and similar schemes as well as import restrictions by way of tariff and non-tariff barriers on imports will complement each other. The former will create demand and the latter curtail the substandard and underpriced imports into India. Together, these initiatives can incentivise the domestic solar manufacturing industry in creating a sustainable manufacturing ecosystem in the solar sector, said Amit Gupta, director – legal & corporate affairs – Vikram Solar. The industry has been not been bidding for the government’s manufacturing tender. The last date for submitting bid for the power plant-linked solar manufacturing tender was extended for the 11th time last week, as no bid came from any company. It is for setting up of 6 Gw solar power plants linked with 2 Gw (per annum) of solar manufacturing plant. After several extensions due to lack of interest, the Central government, in January, decided to cancel the lone bid that came for setting up solar panel manufacturing along with a solar power plant. The single bid came from Azure Power with Waaree Energies. The government re-issued the tender in March and this was also extended again. Gupta said, “In order to make the manufacturing tender successful, the government needs to delink penalties of manufacturing and solar deployment and substantially reduce/rationalise penalties for delays in setting up manufacturing unit.” He added, “Upper ceiling for tariff and minimum period of setting up manufacturing unit to at least 36 months should be removed. Net worth requirements also need to be relaxed.” Source: business-standard

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energy storage

Fund Makes Energy-Storage Bet With an Unusual Battery SoftBank Group Corp.’s massive Vision Fund is making its first-ever energy storage bet — and it’s on a rather unconventional type of battery. The fund, created by Japanese tech giant SoftBank Group Corp., is investing $110 million in Energy Vault, a Swiss startup that’s using cranes and concrete to store energy. An electric crane hoists up blocks of concrete and stacks them into a tower when power is plentiful. When power is needed, it uses gravity to take the structure apart brick by brick. The weight of the descending blocks converts kinetic energy into electricity.

he startup faces stiff competition. Huge lithium-ion batteries have emerged as the storage of choice for utilities looking to deal with short-term fluctuations on their grids. The costs of those have plunged 85% since 2010. Entrepreneurs have long pitched alternatives that can hold more energy and supply for longer — including ones that compress and liquify air and split and store hydrogen, but none have taken off the way lithiumion has. Softbank’s $100 billion Vision Fund is betting on the need for more affordable and bigger storage systems to expand the use of renewable power and wean the world off fossil fuels. Even as the price of wind and solar plummets, they remain intermittent, supplying electricity to the grid at some times and not others. Unlocking a cheap way to bottle up clean power and dispatch it at will could change everything. Energy Vault uses the same principle that’s long been employed by pumped-hydro storage dams, which use huge reservoirs and gravity to store energy and generate power. SoftBank is convinced the tower concept can scale quickly, with the systems installed next to existing solar power plants or wind farms.

The minute you have one solar power plant with these towers up and running, we think the scalability goes through the roof,” Akshay Naheta, managing partner for SoftBank Investment Advisers, said in an interview. He estimates the system can be deployed for 15% of the price of a similarly-sized lithium-ion battery installation. SoftBank itself will become one of Energy Vault’s customers and is installing one of the systems at an undisclosed location, Naheta said. Energy Vault also is building a demonstration plant in Italy and a plant for India’s Tata Power Company Ltd.

Robert Piconi, Energy Vault’s cofounder and chief executive officer, said the technology will allow wind and solar facilities to supply electricity to the grid 24 hours per day, undercutting the costs of fossil fuel plants. Grid-scale lithium-ion battery packs, in contrast, typically deliver power for just four hours. “We’re solving a problem that, today, there’s just not a lot of answers for,” Piconi said. Source : bloombergquint

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SEPTEMBER 2019-D

energy storage

Neutrinovoltaic Technology Solves Renewable Energy Storage Problems

The Neutrino Energy Group cooperates with a worldwide team of scientists and various international research centers, which deal with application research, the conversion of invisible radiation spectra of the sun, among other things, such as neutrinos (high-energy particles, which ceaselessly reach the Earth) in electric power.

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veryone agrees that renewable energy is the way of the future. Fossil fuels hurt the environment, and while nobody knows how much coal, oil and natural gas are left in the world, we all know that our fossil fuel supply isn’t infinite. Currently, however, the renewable energy industry is caught in a quagmire. To make technologies like wind and solar energy capable of supporting entire energy grids, it will be necessary to make battery technology much cheaper than it currently is According to a recent article in SingularityHub, researchers have established that battery storage technology must fall below $20 per kilowatt-hour (kWh) to compete with fossil fuels. The only problem is that the most cutting-edge lithium-ion battery technology has just now fallen below $200 per kWh.

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The Storage Solution Dilemma Solar and wind energy are the most popular types of renewable energy around the world by far. These two types of renewable energy technologies become more efficient by the year, and already, they’re alleviating the demand for fossil fuels that is currently threatening to put a stop to the steady progress of our advanced technological society. Despite their many virtues, however, both wind and solar energy suffer from a crippling flaw: Photovoltaic technology only works

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energy storage

when the sun is up, and wind farms only generate electricity when the wind is blowing. Therefore, it’s necessary to store the energy that these types of renewable power sources produce. Human beings continue to use electrical energy when the sun is down and the air is still, and to access this energy and thus make renewable power technologies competitive with fossil fuels, it must be stored in batteries. Current battery technology is, however, too inefficient and too expensive. Batteries are also wasteful; even the most advanced types of batteries on the market only last for a certain finite number of charge cycles, and then they’re no longer useful; they’re discarded and become polluting junk.

What If There Was No Need to Store Energy? If it wasn’t necessary to store renewable energy, there would be no need to rely on wasteful and inefficient battery technology. Batteries get more advanced by the day, and there may come a point in history in which storing limitless amounts of electricity will seem like child’s play. In the interim, however, a 2015 discovery is pointing humanity toward a future in which fossil fuels become truly obsolete. While it was only four years ago that scientists in Japan and Canada simultaneously discovered that neutrinos have mass, the world of energy science has already been turned on its head. If these ethereal particles that bombard the Earth by the trillions every day have mass, they also have energy, and this energy can be exploited with the right technology. It might seem like science fiction, but technology has already been developed that can capture the mass of moving neutrinos in the form of kinetic energy and transform it into electricity. This technology has been proven to work in laboratory settings, and the only remaining step is to make neutrinovoltaic technology suitable for consumer use. Since neutrinos never stop bombarding the Earth, there’s no need to store the energy that is derived from the steady flow of these ghostly particles. While the amount of electrical energy that can be derived from neutrinos remains quite small, neutrinovoltaic technology continues to become more powerful at the same pace that electronic devices, smartphones, and even heavy machinery continue to become more energy-efficient.

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Neutrinovoltaics: The Salvation of StorageDependent Energy Technologies Even when implemented in an exceedingly small scale, neutrinovoltaic technology can take the pressure off storagedependent renewable energy technologies. If neutrino energy only accounts for 10 percent of the total needs of a renewable power grid, for instance, that’s 10 percent of that grid’s electricity that doesn’t need to be stored in batteries. The true beauty of neutrinovoltaic technology is its decentralization. While the electrical energy derived from fossil fuels can only be generated at central locations and most homes aren’t equipped with solar panels or wind farms, neutrinovoltaic devices are small enough to be installed directly inside smartphones, appliances, cars and other types of energy-reliant machines. With neutrino energy, therefore, there’s no need to waste electricity by sending it across town. Neutrino energy can be generated constantly, even when the sun is down and the wind isn’t blowing. Since neutrinos pass through almost every artificial and natural substance without any resistance whatsoever, it’s possible to install neutrinovoltaic devices underground. Neutrinos continue to strike the Earth regardless of environmental conditions, which makes neutrinovoltaic technology the first truly sustainable energy breakthrough that humanity has ever developed.

How the Neutrino Energy Group Is Lighting Humanity’s Future Led by pioneering mathematician and energy scientist Holger Thorsten Schubart, the Neutrino Energy Group is at the forefront of the development of tomorrow’s clean energy solutions. As a partnership between American and German organizations, the Neutrino Energy Group transcends national boundaries to devise energy solutions that will help the entire world. Within a few short years, Schubart predicts that neutrino energy will be capable of powering smartphones, tablets, and other devices that consume small amounts of electricity, and it won’t be long after that until entire households and businesses can be powered with the same technology. Neutrinovoltaics is the way of the future, and the Neutrino Energy Group is delivering tomorrow’s promises today. Source: Neutrino Energy

SEPTEMBER 2019-D

Research & analysis

India leads with lowest renewable cost in Asia Pacific

India has emerged as the market leader with the lowest renewable energy cost in Asia Pacific, new research from Wood Mackenzie found. India’s levelised cost of electricity (LCOE) using solar photovoltaic (PV) has fallen to US$38 per megawatt hour (MWh) this year, 14% cheaper than coal-fired power, traditionally the cheapest source of power generation.

Wood Mackenzie research director Alex Whitworth said: “India is the second-largest power market in Asia Pacific with installed power capacity of 421 gigawatts (GW). Solar capacity is expected to reach 38 GW this year. High-quality solar resources, market scale and competition have pushed solar costs down to half the level seen in many other Asia Pacific countries.”

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unner-up Australia will see solar costs – which are already competitive against gas power – breaking through the coal-fired power price barrier. Solar LCOE has fallen 42% in the past three years and will reach US$48/ MWh in 2020, beating out all fossil fuel competitors. Historically reliant on cheap and abundant coal and gas for power generation, Australia’s growing gas exports are pushing gas prices higher, while environmental regulations restrict coal.

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Whitworth added: “Maintaining grid stability and reducing curtailment of intermittent generation has been a recurring challenge in Australia. Energy storage is one of the key options available to help balance power demand and keep uninterrupted supply.” While solar costs are falling across the region, the average LCOE for wind and solar in Asia Pacific are still 29% higher than coal-fired power. Wood Mackenzie forecasts that this premium will disappear by 2027, greatly increasing direct competition between renewables and coal. By 2030, renewable power will have a discount to coal-fired power of around 17% on average across the region. Malaysia, Indonesia and Japan will be the only countries with higher renewable LCOE compared to coal. Whitworth said: “We are living through a revolution in the costs of renewable power technology. Lower costs will boost wind and solar generation’s share of the power mix from the current 6% to a much higher level in coming years. This will create both opportunities and disruption in the industry.” Source: woodmac

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technology

LONGi booked over 2GW orders for its Hi-MO4 module with M6 (166mm) wafers, stresses need for consistency in standards By end 2020, LONGi will upgrade its existing cell and module lines and transform them for production with 166mm wafer. New lines – such as the 5GW monocrystalline cell line in Yinchuan – will be designed for the 166mm size from the start. said Wang Yingge, Executive Assistant to the Chairman of LONGi Solar. The order books for LONGi’s Hi-MO4 modules using M6 monocrystalline silicon wafers have exceeded 2GW. Large-scale production will commence the third quarter of 2019.” Silicon wafer accounts for 30%-40% of the cost of a solar module. Larger wafer size increase the area exposed to light, increasing power and reducing cost.

The industry has been trending toward larger size silicon wafer. However, increased wafer size also increases the weight of the module. “The 166mm wafer has reached the allowable limit of production equipment which is difficult to overcome. This would be the upper limit of the standard for a considerable period.” said Professor Shen Wenzhong, Director, Solar Energy Research Institute of Shanghai Jiaotong University.

Since 2H-2018, the industry has continued to develop larger size wafers, leading to various specifications. These different wafer sizes will lead to a mismatch in processes and standards in the supply chain, according to Li Zhenguo, President of LONGi Group. “If manufacturers cannot reach an agreement on a size standard, it will restrict the development of the whole industry.” Li Zhenguo said. Shen Wenzhong said: “Existing crystal drawing and slicing equipment are compatible with 166mm size silicon wafer. Production equipment for cell and module needs to be modified, though the costs are lower and easier to achieve. “Calculated by “flux”, cell and module production line using 166mm wafer will increase capacity by 13% as compared with the 156mm size”. LONGi announced the price of its M6 monocrystalline silicon wafer in May-2019 at 3.47 RMB/piece, which is only a small 0.4 RMB premium compared to its M2 wafer. The compatibility of wafer production lines with M6 would ensure large-scale supply in 2019, thereby reducing the price differential to less than 0.2 RMB, Wang Yingge said.

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Fraunhofer ISE Sets Two Records for the Efficiency of SiliconBased Monolithic Triple-Junction Solar Cells Researchers at the Fraunhofer Institute for Solar Energy Systems ISE have once again succeeded in raising the efficiency value of monolithic triple-junction solar cells made of silicon and III-V semiconductor materials. Using a combination of multiple absorber materials, these multi-junction photovoltaic cells exploit the energy from the solar spectrum significantly better than conventional silicon solar cells. The world record for a monolithic multi-junction solar cell manufactured by wafer bonding has been increased to 34.1% and an efficiency record of 24.3% achieved for a solar cell with the III-V semiconductor layers deposited directly on the silicon.

Monolithic multi-junction solar cells are a source of hope for the further development of the silicon solar cells dominating the field today because they can lead to significantly higher efficiency values when converting sunlight into electrical power. We believe that we can achieve efficiency values of 36%, which would substantially exceed the physical limit of 29.4% offered by a pure silicon solar cell, explains Dr. Andreas Bett, Institute Director of Fraunhofer ISE. The high efficiency allows for more output per surface area, thus creating a savings of solar cell and module materials — an important aspect in regard to the sustainability of photovoltaics. For the production of multi-junction photovoltaic cells, thin III-V semiconductor layers only a few micrometers thick are deposited on a silicon solar cell. In order to optimally exploit the sun’s rays, the different layers absorb light from different spectral ranges: gallium indium phosphide in the 300–660 nm range (visible light), aluminum gallium arsenide in the 600–840 nm range (near infrared light) and silicon in the 800–1200 nm range (long-wavelength light).

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technology This enables significantly increased efficiencies compared to singlejunction silicon solar cells. Like today’s conventional silicon solar cells, these cells each have a contact on the front and rear sides, which allows for easy integration in solar modules. Bonded multi-junction photovoltaic cells: 34.1% efficiency already well established in microelectronics, the process of direct wafer bonding is employed for creating a monolithic multi-junction solar cell. This involves depositing the III-V layers on a gallium arsenide substrate in an initial step, after which an ion beam is used to deoxidize the surfaces in a high-vacuum chamber before they are pressed together under pressure. The atoms in the III-V semiconductor layers form a bond with the silicon, forming a single unit. Now stacked on top of each other, the GaInP, AlGaAs and silicon sub-cells are interconnected via tunnel diodes. The GaAs substrate is subsequently removed using wet chemistry, a nanostructured rear-side contact is attached and an anti-reflection coating and a contact grid are applied to the front side.

In contrast to earlier results, the deposition conditions were improved and a new cell structure was introduced for the uppermost sub-cell made of gallium indium phosphide which enables even better visible light conversion than before. With an efficiency of 34.1%, the cell demonstrates the immense potential of this technology, says Dr. Frank Dimroth, Head of Department III-V Photovoltaics and Concentrator Technology at Fraunhofer ISE. The former world record for this cell class was 33.3% efficiency. Multi-junction photovoltaic cell with directly deposited semiconductor layers: 24.3% efficiency directly depositing the III-V semiconductor layers (GaInP/GaAs) on the silicon solar cells is another method used to create multi-junction photovoltaic cells. This procedure involves considerably fewer process steps than wafer bonding and avoids the use of expensive GaAs substrates, which means it is quite advantageous in the industrial implementation of this technology. Nonetheless, the atomic structure must be very carefully controlled to ensure that the gallium and phosphorous atoms are arranged on the correct lattice sites at the interface to the silicon material. Defects in the semiconductor layers can also have an adverse effect on the solar cells’ efficiency. “We were able to make major progress in this area — current generation in the three sub-cells is now barely affected by these defects, which has enabled us to realize 24.3% efficiency for this technology for the first time anywhere in the world,” Dr. Frank Dimroth says. “The potential is comparable to that of the wafer-bonded cells. We’ve got our work cut out for us in the coming years in order to prove that this is the case.” In December 2018, Fraunhofer ISE introduced this type of solar cell with an efficiency record of 22.3%. In heading toward the industrial mass production of monolithic multi-junction photovoltaic cells, Fraunhofer ISE researchers see challenges in particular in finding an affordable process for manufacturing the III-V semiconductor layers. Direct growth on silicon is currently the most promising approach, but other methods are being researched where the GaAs substrates can be recycled many times over after the semiconductors are transferred to the silicon. For cost-effective solar cell production new deposition machines with higher throughput and deposition area will be required. These are all methods that researchers at ISE will pursue in the coming years. Work on wafer-bonded solar cells is funded by the German Federal Ministry for Economic Affairs and Energy (PoTaSi project, FKz. 0324247). Work on directly grown cells, in which partners Aixtron SE, TU Ilmenau and Philipps-Universität Marburg were involved, was funded by the German Federal Ministry of Education and Research (MehrSi project, FKz. 03SF0525A).

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Neutrinovoltaic Technology is Opening Up the Future of Sustainable Energy The Neutrino Energy Group cooperates with a worldwide team of scientists and various international research centers, which deal with application research, the conversion of invisible radiation spectra of the sun, among other things the neutrinos (high-energy particles, which ceaselessly reach the earth) in electric power.

Is renewable energy hurting consumers? During the last decade or so, consumers around the world have been encouraged to install solar panels on top of their houses. In certain climates, these rooftop photovoltaic installations can more than cover the electrical needs of an individual home, and many solar-equipped houses feature photovoltaic systems that wire directly into the grid. At times when the home has excess solar-generated electricity left over, this energy feeds back into the grid and helps out with the electricity needs of other energy company customers.

Rooftop Solar Panels Feed Back into the Grid The idea of selling your photovoltaic electricity back to your energy company is laudable. While you might have decided to equip your house with solar panels, most homeowners in your area still make do with coal-generated power, and contributing photovoltaic-derived electricity to the grid helps you do more than your part. There’s also something uniquely satisfying about taking a check from a power company you’ve been paying for years or even decades.

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technology

Compensation for Excess Energy Is Complicated At the same time, however, these electricity buy-back schemes aren’t perfect. In the end, selling your excess solar-generated energy to your power company might actually raise rates for your entire community, a recent article in Inside Sources explains. The details get somewhat complicated, so buckle up, and let’s proceed.

Consumers End up Bearing the Brunt As part of the incentives provided to homeowners who equip their houses with solar panels, these energy customers are often offered the full retail rate of electricity in their area. These retail rates don’t just include the cost of the electricity itself; they also cover the costs of transporting and delivering electrical energy. These small costs are essentially doubled, which reduces the profit margins of the energy company. To deal with these reduced profits, energy companies usually pass on the added costs of buying solar-generated electricity from homeowners to consumers in the form of rate increases. If your current rate for electricity is $0.08 per kWh, for instance, this rate might raise to $0.09 if there are a lot of homes feeding solar energy back into the grid in your area.

Decentralized Energy Is the Answer

The transportation of electricity remains one of the biggest weak points in our modern energy infrastructure. Since the electricity used in homes and businesses is usually generated at central locations using coal, it’s necessary to transport this electrical energy to homes and businesses in the area. The voltage of electricity drops over distance, which means that the electricity that reaches your home is significantly weaker than the electricity that was generated at the plant.

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This inefficient design wastes untold kilowatts of electrical energy every year, and it also inadvertently leads to increased energy costs in areas that make significant use of rooftop solar arrays. If there wasn’t a cost to transport energy in the first place, there would be no need for energy companies to include this cost in the retail price offered to grid-connected homeowners who generate excess solar power, which means that consumers wouldn’t be forced to bear the brunt of the costs created by this duplication of charges. What’s needed in this situation is a form of energy that’s both sustainable and decentralized. If transporting electrical energy is a problem, why not have everyone generate it in their own homes? Equipping each home with photovoltaic panels appears to be one solution, but most climates aren’t sunny enough for homes to generate all the electricity they need with solar panels throughout the year. Even in places where it’s sunny and clear in the summer, winter-time weather conditions and shorter days render photovoltaic technology practically useless.

Neutrinovoltaic Technology Is Opening up the Future of Sustainable Energy It simply isn’t feasible to equip every home in the world with solar panels, and if only some homes contribute to the grid with their solargenerated electricity, consumers will continue to be forced to absorb the costs associated with renewable energy incentives. There’s a new energy technology, however, that can operate anywhere during any part of the year and power every home on the planet. The 2015 discovery that neutrinos have mass opened up a whole new era of neutrinovoltaic research. It turns out that the impact of these invisible particles can be used to generate electricity, and practical levels of electrical energy have already been generated with neutrinovoltaic technology in laboratory settings. Within a few short years, consumer-level neutrinovoltaic technology will hit the market, and the next generation of smartphones, tablets, and laptops will be self-powered with the endless electrical potential of neutrinos. From there, appliances, cars, and even entire households will be capable of running on this form of decentralized, ubiquitous power that puts other traditional energy options to shame. Source: Neutrino Energy

SEPTEMBER 2019-D

energy storage

Energy Storage Microgrids What You Need to Know An increased focus on grid resiliency along with the proliferation of Distributed Energy Resources (DER)—such as solar and wind—has made microgrids a very attractive alternative to the traditional centralized grid system. Before diving in deeper, though, let’s look at what differentiates microgrids from the traditional grid system. Essentially, microgrids are small collections of loads controlled locally by a limited number of DERs, as opposed to large centralized power systems—which are operated and controlled from a centralized authority. Large centralized power systems maintain system stability through top down control and the aggregated inertia of the system.

The Benefits of Energy Storage Microgrids

Raychem RPG’s Self-Healing Microgrid

The proliferation of DERs like wind and solar have made the grid model system complicated to control from a centralized authority. Microgrids can help to simplify this problem by breaking it up into discrete components, which can then be controlled as a microgrid independent of the larger grid. In this sense, microgrids work to improve grid resiliency by reducing the impact of faults to finite areas on the grid. Microgrids allow faults to be isolated on one section— without impacting the ability of other surrounding microgrids—to keep operations up and running. For this reason, ongrid/offgrid microgrids are extremely valuable, especially for critical power systems.Microgrid energy storage allows operators to actively balance energy on the grid by alternately injecting and absorbing excess power. The method and speed for how the power balance is controlled is the key to microgrid stability.

(with Dynapower Technology)

SEPTEMBER 2019-D

All our power conditioning systems (PCS) can quickly and reliably respond to frequency and voltage deviations to improve microgrid stability. We have years of experience in reliable islanded (off-grid) operation as well. Our industry-leading speed of response maintains microgrid voltage and frequency while minimizing deviations through various microgrid conditions. Another factor that can impact microgrid reliability is the system’s ability to appropriately isolate and react to system faults. Isolation is typically provided by overcurrent protection devices (OCPD) such as breakers and fuses; however, these OCPDs rely on an adequate amount of fault current to be provided by the systems’ sources to trip the OCPD and isolate the fault.

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energy storage

Example of self-healing” microgrid capabilities The PCS are designed to provide fault current in accordance with their overload capability when operating in microgrid mode—thus, providing enough current to isolate the system fault. Isolation of the fault enables the microgrid to “selfheal” and continue reliable operation.

Dealing with Step Changes Step changes in the load in both the positive and negative directions need to be immediately responded to, to maintain system voltage and frequency stability. Microgrid mode features high speed controls that are capable of servicing load steps of up to 100% rated power in under 8ms. The high speed of response enables the PCS to maintain stable operation of the microgrid through controlled injection and absorption of Real and Reactive current, minimizing the impact seen by the microgrid system loads.

Managing Inrush Currents

Example of proprietary Dynamic Transfer from grid tied to islanded microgrid . Patented Technology of Dynapower - the technology partner of Raychem RPG

The patented Black Start capability, enables the PCS to support high start-up currents to start a microgrid after a blackout. To do so, the Black Start ramps the microgrid voltage and frequency to mitigate the high inrush magnetizing currents. This soft start of the system means the inverter will not have to be sized to support the high inrush currents, while still enabling the microgrid system to start the microgrid.

By using settable ramping limits, the PCS can Black Start any type of transformer load, making it distinctive in the marketplace and providing unique value to microgrid operators.

Control of Multiple DER With Microgrids As microgrids grow larger, a single system may not be large enough to fully service the load of the microgrid and will require multiple power electronic enabled DER. With multiple DER deployed on the same microgrid, these power electronic devices must communicate reliably to maintain overall voltage and frequency stability of the microgrid. Coordination of these DER resources needs to be done fast to maintain system stability while minimizing overall system cost. The PCS can be configured to run microgrids with multiple parallel systems as well as other forms of DER. Unit to unit communication for load sharing is accomplished with frequency and voltage droop on the microgrid system. This reduces costs for microgrid installers and increases reliability for systems owners. As you can see, the benefits of energy storage microgrids are far-reaching and continuing to evolve. At Raychem RPG, we are proud to be on the forefront of energy storage microgrids and their continued growth.

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Ashish Kumar

Lead – Energy Management Systems Raychem RPG

SEPTEMBER 2019-D

research & Analysis

Renewables Got 63% Less Budget Allocation Than Coal-Based Power Despite a global commitment to increase the use of renewable energy and reduce polluting emissions, India allocated 63% less budget funds to alternative fuels than coal-based power. Coal is the single largest source of global temperature increase and its burning releasesharmful particulate matter. In the 2019-20 budget announced on July 5, 2019, the allocation for the Ministry of Coal stood at Rs 20,121 crore (around $2.8 billion) while the Ministry of New and Renewable Energy was granted Rs 12,353.81 crore (around $1.7 billion). Such gaps have existed in every single budget since 2009-10, showed an IndiaSpend analysis of Union budgets over the last decade. “India still needs investment in renewable energy of more than US$ 250 billion over the next decade,” said the Economic Survey 2018-19. This implies an annual investment of more than Rs 1.77 lakh crore ($25 billion) for 10 years while the current budget allocates 93% less than the target–Rs 12,353.81 crore ($1.745 billion).

The total budgetary allocation in 2019-20 for public sector enterprises (PSEs) engaged in the generation of thermal power–Neyveli Lignite Corporation, National Thermal Power Corporation (NTPC), Coal India and Singareni Collieries–is about Rs 40,000 crore ($5.648 billion). This amounts to a significant 1.43% of the total budget that stands at Rs 27.86 lakh crore. “How can India aim to cut emissions by 2030 when government support is in favour of coal?” asked Nandikesh Sivalingam, programme manager, Greenpeace East Asia. PSEs such as NTPC and Coal India also have investments in renewable energy but these are not on a scale comparable to the coal sector, he added.

SEPTEMBER 2019-D

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research & Analysis Renewables growth slowed down in 2018 In the 2015 Paris Climate Agreement, India had committed to install 175 gigawatt (GW)–a GW is 1,000 megawatt (MW)–of renewables power capacity by 2022. This would have reduced India’s dependence on fossil fuels and helped its fight against air pollution, responsible for one in every eight deaths and the loss of 1.24 million lives in India in 2017. But after record growth in renewable power capacity installation over the four years to 2017, capacity addition slowed down in 2018, IndiaSpend had reported on January 24, 2019, ahead of the interim budget presented by the last National Democratic Alliance government. The main reasons we concluded were: an anti-dumping duty imposed by the government on imported solar modules to aid domestic manufacturing, higher rates of taxation under the goods and services tax (GST) and unclear policy. As of May 2019, 22% of India’s total installed capacity for energy generation comprised of renewable sources while coal, lignite, gas and oil constituted 63.2%, according to the Ministry of Power. India also emitted 2,299 million tonnes of carbon-dioxide in 2018, a 4.8% increase from the previous year.

Other forms of support mostly for thermal power Budgetary allocations form only a portion of governmental support for CO2-intensive methods of power generation by PSEs. Subsidies for oil, gas and coal were more than triple the value of subsidies to renewables and electric vehicles in India for the financial year 2016-17, according to a 2017 report of the think-tank International Institute for Sustainable Development (IISD).

“Viability gap funding is another issue,” Sivalingam said. Viability gap funding is the financial assistance provided by governments in the form of grants to support projects that are economically justified but not financially viable. This kind of support is provided predominantly to attract investments from the private sector. The government provides support to coal in the form of investments into PSEs and there is a need for similar investments in renewables as well, Sivalingam said.

Share of renewables rising but so is coal capacity India’s commitments under the United Nations Framework Convention on Climate Change do not reference coal, said Kanika Chawla, director at the Centre for Energy Finance, Council on Energy, Environment and Water. “It only talks about renewable energy capacities and reductions in emissions,” she said. Reductions in emissions are a function of greening the energy mix, energy efficiency targets, and so on. In this context, India’s energy transition is unique. “Even though we have a rising share of renewables, we also keep continuing to add thermal capacity,” Chawla said. Here, ‘thermal capacity’ largely refers to coal capacity because around 86% of total installed capacity for thermal power is comprised of coal (the rest is oil, gas and lignite). “There’s a need for the government to put in public money into research and development of new technologies, not just in renewable energy but also in associated services like energy storage,” Chawla said, noting that research and development activities in India have often not received the required attention because the country has largely focussed on applications (such as solar pumps for irrigation). In terms of budgetary allocation, NTPC is the biggest PSE beneficiary–it gets Rs 20,000 crore of the Rs 40,121 crore given to PSEs (50%). This benefits the renewable sector to the extent that NTPC runs its own solar power units, buys renewable power from independent power producers, and sells to distribution companies around the country, Chawla said.

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The term ‘subsidies’ in the IISD report encompasses direct budgetary allocations, tax exemptions which include instances where sources of power other than coal are taxed at higher rates, and concessional rates for the purchase of land and for loans, explained Vibhuti Garg, senior energy specialist with the Global Subsidies Initiative. For example, coal has been kept in the lowest GST tax bracket, which attracts a rate of 5%, while solar power is taxed under a valuation methodology– where 70% of the value is seen as goods and is taxed at 5% and 30% is considered a service and taxed at 18%. The sector, though, has claimed that the actual ratio of goods and services is 90:10. The basis for the ratio aside, such rates of taxation are discouraging and would limit the nation’s capability in meeting its commitment to adding 100 GW of solar power by 2022 as part of the ‘solar mission’, said Garg. “These have been categorised as subsidies because they come directly out of the taxpayer’s pocket and are being given to these industries for carrying out their power production and distribution activities,” she added. Source: indiaspend

SEPTEMBER 2019-D

research & Analysis

Installation of PV Module Bonding on Substructure and Roof Top 78Â

SEPTEMBER 2019-D

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research & Analysis Finding the right adhesive for better productivity. Bonding of the PV module to the substructure and roof sheet with high-performance adhesives is one innovation which can have a significant impact on cost reduction and increase of productivity. The question of efficient fastening systems comes up more and more often either on the Substructure (Field) or directly on the Roof Top (Metal or Concrete). More and more demand on the mechanical fastening free systems. In the area of crystalline modules, this was mainly solved through the use of framed systems. With frame modules are mechanically clamped on the bonded profile, purlin, rails etc. However, such a solution is not economically feasible to implement in the area of frameless Crystalline (Glass to glass) and in thin film module, due to the increasing dimensions of the modules. The continued development of new solutions in bonded installation systems is therefore another step in the right direction and illustrates the enormous potential for innovation in this sector. Different kind of bonding system can be used for Solar modules. Several benefits can be achieved simultaneously through various simplified systems depending on the application. Substructure or stiffener bonded systems for Frameless module (Glass to Glass) or Thin Film module during production. Leak proof solutions for “with” or “without” frame module bonding on existing and new Roof with combination of mechanical fastening and engineering adhesives. Structural Bonding solutions for substructure, metal rails, purlin, clamps, and any metal profile directly on existing and new Roof Top(either metal or concrete roof). Rain protection and sealing solutions in between Module to Module gap. Direct Bonding is possible for any kind of Module a. With Fame Crystalline / Bond Metal of Frame to Metal of Rail. b. Frame Less Glass- Glass Crystalline Module / Bond Glass to Metal of Rail. c. Frame Less Glass- Back Sheet Crystalline Module / Bond Back Sheet to Metal of Rail. d. Thin Film / Glass to Metal of Rail.

Adhesive selections criteria are based on applications a. High Modulus Engineering Elastic Adhesives ---“SIKAFLEX” and “SIKASIL” Adhesives Technology b. Toughened and Structural Adhesives --“SIKAPOWER”, “ SIKADUR” , “SIKAFORCE” , and “SIKAFAST” Adhesives technology. c. Engineering Elastic Sealants for Sealing ----“SIKASIL” Adhesives “Extreme Sealing Tape” with very high weathering resistance.

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SEPTEMBER 2019-D

research & Analysis BONDED SYSTEM BENEFITS a.Reduces system costs thanks to material and time savings b. Eliminates heavy mounting constructions on roofs c. Shortens installation times on existing roofs d. Allows installations on light weight roofs e. Facilitates self-cleaning of modules thanks to frameless system f. No drilling on roof if using structural adhesive systems g. Sikaâ&#x20AC;&#x2122;s combined mechanical fastening and Engineering Adhesives systems provides warranties.

tolerances in the system or irregular clamping forces.Another aspect is the amount of time required to install the modules at the construction site, which can be reduced by about half through a simplified installation system which is prefabricated during the production stage. The goal is to develop a module system with an bonded substructure which only needs to be hooked or clicked into the fixed base during installation. Such systems already exist in the market and some examples are given in the below image With such simple yet architecturally appealing solutions, it is not only possible to save time, but often material as well. Such systems provide also great freedom of design especially for building integrated photovoltaic (BIPV). In order to be able to fully utilise the improvement potential which exists to some degree in existing installation systems, it is important to consider the overall concept and all of its aspects. In comparison to bonding at the construction site, automatic bonding is characterized by continuously increasing quality standards. Furthermore, the productivity (bonded elements per hour) is kept at a high level while costs are kept down. The seasonal weather dependency which is present for onsite installations is also reduced significantly with this method.

80Â

SEPTEMBER 2019-D

Bonding of Substructure during Frameless Module production. For glass to glass module In order to ensure the durability of the elements, a fastening system which limits the risk of material damage as much as possible is desirable. However, since the glass material is a rather fragile and sensitive material, elastic connections which prevent stress peaks in the module are preferred (see picture ). Due to the elastic bonding of the substructure, the loads are transferred to the substructure with a reduced risk of glass breakage for both the linear and point mounting systems. As visible in the illustrations below the stress peaks occurring in the case of clamped systems are indicated with highlighted with arrows. These stress peaks may occur due to wind and snow loads-

Durability of Adhesive Systems: One major aspect to be taken into account when joining the PV module with a mounting profile or substructure are the tolerances in the dimensions of all components. While conventional mechanical fixation systems or bonded systems using tapes are only able to cover such tolerances to some degree, pasty adhesives are much more permissive in this regard. The bonding technology must also meet the durability requirements, similar to the module or mounting system. It should therefore be resistant to weathering, UV and temperature. As the IEC 61646 is mainly a module system test and not a specific test for the bonding system. The most suitable test standard to test the materials and the adhesive system is the EOTA ETAG 002 guideline. This standard is the most severe norm for structural bonding in the faĂ§ade industry. In order to be able to absorb the stresses due to wind, snow, module weight, and the different expansions of the materials and to compensate the tolerances of the module and the substructure, the adhesive joint must be dimensioned properly. It has to have the corresponding structural properties to transfer loads and at the same time elastic properties to accommodate the different thermal expansion of module and substructure. Selection of the right adhesive system including the related tests should always be performed in cooperation with the adhesive manufacturer.

Author

National Head Technical Service Sika India Pvt Ltd

National Business Manager (A&M) Target Market Industry - Solar

Sanjib Banerjee

Faiz Ahmed

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