EQ Int'l Magazine December 2015 Edition by EQ Int'l Solar Media Group

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CONTEN T

VOLUME 7 Issue # 12

07 Modi asks G20 for $100 bn a year green climate fund by 2020

27 BRICS New Development Bank to finance its first renewable energy project - Indian PM

08 China’s Trina Solar to set up Rs 2,800 cr plant in Andra Pradesh

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

ACME to develop 50 MW solar project in UttaraKhand

China’s Sany Group Plans $3 Billion Investment In Renewables

62 POLICY & REGULATIONS

UDAY will lead to Rs 1.8 Lakh Crore Savings Annually - Shri Piyush Goyal

Analysis of Model Regulations on Forecasting and Scheduling of Wind and Solar Generating Stations at State level

Govt. bats for revising RPO target to 10% by 2022

MIDDLE EAST

HH Mohammed bin Rashid launches AED 50 bn Dubai Clean Energy Strategy

Financial Viability and Grid Parity scenario analysis of Grid connected Solar Photovoltaic Power Plant In The State Of “Jammu & Kashmir”

Sterling and Wilson Wins order from Sindicatum Renewable Energy For Setting up a Solar Photovoltaic Power Plant in Clark

83 Vikram Solar Offers 27 Years Of Linear Power Warranty On Its Solar Modules

JA Solar Launches 400MW Solar Cell Manufacturing Facility in Malaysia

SunEdison Enters into Agreement to Sell 425 MW to TerraForm Global

ASIA PACIFIC Trina Solar Delivered Over 15GW of Solar Modules Worldwide

Azure Power Signs 150 MW Project in Punjab

C ONTEN T

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

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

7-41

PV MANUFACTURING

COP 21 42

Statement By Prime Minister At Cop 21 Plenary Paris, 30 November 2015

POLICY & REGULATIONS 48

UDAY (Ujwal DISCOM Assurance Yojana) For Financial Turnaround Of Power Distribution Companies

RESEARCH & ANALYSIS 50

Mercom Capital Group Forecasts 3.6 GW of Solar Installations in India for 2016

PRODUCTS 80-84

White Paper on Generation Analysis- CUF PR comparison

EnviroChemie Innovative Water & Waste Water Treatment For International Solar Industry 2015

ROOFTOP & OFFGRID 72

On-Grid Solar Plant Case Study

RENEWABLE ENERGY 78

Renewable Energy Zones (REZ)s A Concept that needs immediate attention of Indian Developers and Policy Makers

QUARTER RESULTS 52-61

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INDIA

Modi asks G20 for $100 bn a year green climate fund by 2020 Pledging to quadruple India’s renewable power capacity to 175 gigawatt by 2022 and cut fossil fuel subsidies, Prime Minister Narendra Modi on Sunday asked world’s top economies to ensure reaching the target of USD 100 billion a year green climate fund by 2020.

He also pushed ahead his proposal for forming an alliance of solar-rich countries at the upcoming Climate Summit in Paris and said G20 countries must build support systems focused on nations with maximum growth potential. In his lead intervention at G20 Working Lunch on Development and Climate Change, he offered seven points for consideration which include shift from ‘carbon credit’ to ‘green credit’ and increase in share of traffic on public transport in cities by 30 percent by 2030. “I propose that we consider how G20 can build support systems that focus on countries with maximum growth potential, help address specific bottlenecks there and facilitate implementation of country strategies,” he said, adding that the grouping of world’s top 20 economies including US and China must continue to focus on infrastructure. Clean energy and environment friendly infrastructure, he said, will address both development and climate change. “Bridging the current gap in infrastructure finance in the developing countries should remain our key priority, he said, while adding that G20 can play an effective role in supporting the multilateral goals of increasing research and development to develop affordable renewable energy. “We should also ensure that finance and technology is available to meet the universal global aspiration for clean energy. We must meet the target of USD 100 billion goal per year by 2020.” The industrialised nations had earlier committed to long term financing support in form of a green climate fund worth USD 100 billion a year to support concrete mitigation actions by the developing countries.

Indian Railways to issue green bond State-owned transportation firm Indian Railways is thinking of selling green bonds in order to support its renewable energy projects, the Press Trust of India (PTI) said On Saturday, citing a senior official. The company is currently working on sorting out the details for the placement, according to the report. Specific information is yet to be announced.

“When we speak of targets, we must not only reduce the use of fossil fuel, but also moderate our life style. Development in harmony with nature is the goal of my proposal to launch, along with the French President Francois Hollande, an alliance of solar-rich countries at the time of COP-21 meeting (in Paris later this month),” Modi said.

ndian Railways intends to install both photovoltaic (PV) and wind farms, as well as to construct wasteto-energy plants. It will also allocate part of the proceeds for certain energy efficiency schemes. The move is in line with the company’s strategy to reduce its dependence on fossil fuels along with its carbon dioxide (CO2) emissions. Apart from using PV arrays to run its buildings and illuminate its coaches, Indian Railways also intends to use solar power for traction purposes, the unnamed official was quoted as saying.

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INDIA

China’s Trina Solar to set up Rs 2,800 cr plant in AP

Waaree Energies Ltd. completes independent assessment for Solar PV Bankability from Black & Veatch

ndhra Pradesh government and Chinese Company Trina Solar recently inked an MoU to set up a Rs 2,800 crore plant at Atchutapuram in Visakhapatnam district. Andhra Pradesh Chief Minister N Chandrababu Naidu said the venture would give a huge fillip to the energy-efficient practises promoted by the state government and create employment opportunities for 3,500 people. The MoU was signed by Industries Secretary S S Rawat and Trina Solar Vice President Chen Shou Chung in the presence of Naidu, an official statement said. Trina Solar is one the world’s leading companies that specialises in the manufacture of crystalline silicon photovoltaic modules and system integration. It also develops and produces ingots, wafers, solar cells and solar modules, it was stated. Source: PTI

aaree Energies India’s number one premier solar manufacturer and solutions provider has announced the completion of Independent assessment by Black & Veatch for Solar PV Bankability of the Solar Panels manufactured at its plant in India recently. Commenting on the completion of this assessment, Mr. Hitesh Mehta, Director, Waaree Energies said, “We are glad to announce the completion of this evaluation by Black & Veatch. Undertaking this independent assessment of the Solar PV Modules manufactured by us demonstrates our commitment towards Global customers and financial institutions, to help them make decisions with certainty . Investors need to develop confidence in the Solar Panels that would be deployed in their projects and evaluation by a skilled and renowned Independent Engineering services company like Black & Veatch facilitates the decision making.” With an annual production capacity of 500 MW, Waaree is the largest solar PV manufacturer in India providing a complete range (3wp to 400wp) of Polycrystalline and Mono PV Modules, for off-grid as well as on – grid applications. Black & Veatch is frequently relied upon by clients to evaluate facilities that manufacture PV modules and supporting technologies. Evaluations, which are conducted on behalf of both investors and facility owners, verify technology claims and ensure manufacturing processes produce a consistent, high-quality product in a cost-effective manner. This independent assessment enables clients to make investment decisions with confidence.

Hanwha Q CELLS Completes 27.5 MW of Solar Module Delivery to Roha Dyechem Pvt. in India

anwha Q CELLS Co., Ltd., a top-10 global photovoltaic manufacturer of high-quality, high-efficiency solar modules, has completed 27.5 megawatts (MW) supply of HSL-72 305/310Wp modules to Roha Dyechem (“Roha”), the largest manufacturer and distributor of synthetic and natural color in India. The modules were installed at Bhadla in the state of Rajasthan and the project now generates enough electricity to power 7,000 households. Roha is actively investing in renewable projects as a part of its environmental sustainability efforts and this power plant is one of five solar power plants that are being built in Rajasthan State as part of Rajastan State Solar policy. 8

December 2015

“Hanwha Q CELLS is pleased to power one of Roha’s solar power plants and to support its clean energy initiatives.Hanwha Q CELLS has booked about 270 MW to major energy companies in India year-to-date, with over 200 MW of modules scheduled for shipment in 2015. We expect to accelerate our business in India going forward.”

- Mr. M. Y. Kim, Senior Vice President, Hanwha Q CELLS in India.

HSL-72 modules, rated at 305/310Wp, offers excellent performance, extended durability cost-competitively and highly suitable product solution for fast growing emerging markets such as India.

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INDIA Mr. Goyal further said “it is a bottom up approach, not a top down approach. The states will be assisted and hand held to bring down the cost of power by improving their distribution, transmission and sub transmission network, reducing the cost of power through coal rationalization and also bringing down the interest cost substantially.Shri Goyal said the weakest aspect in the power sector was related to distribution, wherein Discoms have accumulated losses of approximately 3.8 lakh crores and outstanding debt of Rs 4.30 lakh crores. The Minister said, UDAY is also a good news for the banking sector, which has a huge exposure to the near bankrupt state Discoms.

UDAY will lead to Rs 1.8 Lakh Crore Savings Annually - Shri Piyush Goyal

75%

Union Minister of State ( IC) for Power, Coal and Renewable Energy,Shri Piyush Goyal has asserted that the newly unveiled debt restructuring plan for DISCOMs, will eventually lead to a saving of Rs 1,80,000 crore annually.

amed as UDAY (Ujjwal Discom Assurance Yojana), which also means dawn in English, the package involves a massive bailout plan for debt ridden Discoms, besides measures to reduce power thefts, align consumer tariff with generation cost and promote energy efficiency. Shri Piyush Goyal held an extensive investors interaction meeting in Mumbai on monday evening to explain the new power sector reform initiative of the government. In a packed house attended by FIIs, Private Equity Funds, Sovereign Wealth funds, Insurance companies, rating agencies, analysts and Mutual funds among others, the Power Minister expressed confidence that UDAY will find panIndia acceptance. “Almost all the state power ministers heartily welcomed the new initiative during the Conference held in Kochi last week” he said.

The energy efficiency under UDAY would be achieved by reduction in interest rate, reduction in aggregate technical and commercial losses, increase in coal availability, improving billing and collection efficiency, and better demand side management. He said the National Domestic LED Programme alone, when fully implemented will lead to reduction of consumer bills to the tune of Rs 40,000 crore, besides reducing peak load by 20,000 Mega Watts.

- Mr. Piyush Goyal, MNRE MINISTER, INDIA

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Under UDAY, states can take over 75 per cent of their debt as on September 30, and payback lenders by issuing bonds. This takeover of debt will not be added to the fiscal deficit of the states.

25%

For the remaining 25 per cent, the State Electricity Boards shall issue bonds. The Minister assured the assembled investors that the sovereign, state and PSU bonds of India have never failed on payments.Shri Goyal asserted that tariff increase was no substitute for efficiency improvement and added “regulators cannot pass on inefficiency of Discoms to consumers”.

Terming UDAY as a new milestone in the power sector, even though it is optional, Shri Piyush Goyal urged all states to look at it in the holistic fashion and see the benefits it offers. He further said states accepting the scheme and performing as per operational milestones will be given additional or priority funding under Deen Dayal Upadhyay Gram Jyoti Yojana and Integrated Power Development Scheme and other schemes of the power and renewable energy ministries. The Minister said that if implemented in right spirit UDAY can help almost all the loss making Discoms in the country to post profits within next

2-3 YEARS

December 2015

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INDIA

ACME to develop 50 MW solar project in UttaraKhand Solar power producer Acme today said it will develop a 50 MW photovoltaic project in Uttarakhand. With this, the company’s solar portfolio stands at 1,200 MW, Acme said in a statement.The project is a part of the 170 MW project tendered by the Uttarakhand government and Acme received the largest share of 29 per cent in this work. The emergence of Acme in this bid reinstates our expertise in the solar power sector that helped us to become the country’s largest solar power developer with over 1,000 MW projects under our portfolio.

- Manoj Kumar , Founder and Chairman, ACM E

anoj added the company aims to generate 7,500 MW by 2019.Acme has a portfolio of around 1,150 MW, including 440 MW in Telangana, 104 MW in Punjab, 160 MW in Andhra Pradesh, 100 MW under the Jawaharlal Nehru National Solar Mission Phase II projects in Rajasthan and other projects in the states like Gujarat, Madhya Pradesh, Rajasthan, Odisha, Bihar, Uttar Pradesh, Assam, Tamil Nadu and Chhattisgarh.

Bharat Light Sets Up JV With Norway’s Statkraft

enewable energy firm Bharat Light & Power (BLP) recently said it has entered into equal joint venture with Norwegian power company Statkraft for providing distributed solar energy solutions in India. Statkraft BLP Solar Solutions Pvt Ltd (SBSS), the 50:50 JV, will provide industrial and commercial consumers with both rooftop and ground mounted solutions with world class technology and execution. SBSS will provide a variety of financing structures, whereby consumers can convert their solar capex into an attractive per unit cost of solar energy, enabling consumers to reduce their carbon footprint and lower energy costs. “This partnership brings together two entities committed to supporting the government’s renewable energy objectives,” BLP CEO Tejpreet S Chopra told agency. “By providing distributed solar energy solutions on a per kWh basis, storage and micro grid solutions, we intend to transform the way power is generated and consumed in India. This will go a long way in supporting the government’s mission of 24/7 power for all by 2019,” Chopra said. The government has set a target of achieving 100 GW of solar and 60 GW of wind based power generation capacities by 2022. It is estimated that 40 GW will be distributed solar energy. The partnership between Statkraft and BLP is committed to contribute to the clean energy drive, the company said, adding that it intends to bring to India the latest advancements in renewable technology, competitive financing structures, low cost solar energy, and global best practices in engineering design and project development. BLP is a renewable energy generation and technology firm. It has three verticals. The company is focusing on the wind and solar sectors. It has about 800 MW of wind farms in operation and under development. Source: PTI

Source: PTI

Sun edison won auction for a 500 megawatt project in andhra pradesh, to supply solar power at 4.63 Rupees per kwh

December 2015

n an e-reverse auction conducted by NTPC on 03.11.2015 for 500 MW (10 projects of 50 MW each) to be set up at Ghani Solar Park in Andhra Pradesh under National Solar Mission, Phase-II, Batch-II, Tranche-I of Ministry of New & Renewable Energy, Govt. of India, NTPC received the lowest tariff of Rs. 4.63 per unit of electricity. Total 30 bids were received totalling to 5500 MW capacity.

Lowest quoted tariff in price bid was Rs 5.21/Kwhr and weighted average quoted tariff in price bid was Rs 5.334/Kwhr E-reverse auction was conducted from 14:30 hrs of 03.11.2015 to 00:50 hrs of 04.11.2015. Weighted average quoted tariff at closing of e-reverse auction was Rs 4.63/Kwhr, with reduction of Rs 0.704/ Kwhr in the reverse auction. Sun Edison is the successful bidder.

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INDIA

Lightsource To Launch £2billion Investment Into India Solar PV Market Lightsource Renewable Energy, the leading solar energy company in the UK and Europe, is spearheading a £2billion investment in solar energy in India.

he firm has announced plans to design, install and manage more than 3 Gigawatts (GW) of solar photovoltaic (PV) infrastructure in partnership with a number of reputable Indian companies over the next five years. In addition to creating over 300 solar jobs in India, this investment will also create over 300 UK jobs. Many more jobs will also be created in related industries, such as construction and steel fabrication to facilitate the installation of the new sites.The first partner announced is SREI Infrastructure Finance Limited, which is the leading infrastructure financing entity in India specialising in financing, development and advisory functions.

“We are delighted to be announcing our investment plans for the solar PV market in India. The Indian Government has ambitious plans for renewable energy and we’re very pleased that Lightsource will be contributing significantly to that goal.“India will be a key market for Lightsource in the future. We are excited to be working with SREI, our first partner. Together we will be contributing towards the Indian Government’s and our individual companies’ ambitions.”

- Nick Boyle , CEO, Lightsource’s “The UK and India have a strong, successful trade relationship. Prime Minister Modi’s visit to the UK this week demonstrates our commitment and ambition to collaborate further.“Both countries have a wealth of talent and expertise to share and I am pleased to see so many UK and Indian companies announcing deals this week. By working in partnership we can deliver real benefits and job creation for both of our economies.”

-Lord Maude , Trade and Investment Minister, UK Currently the leading solar PV energy generator in the UK and Europe, and one of the top ten largest solar PV energy generators globally, Lightsource has deployed more than £1.7 billion of solar assets and manages an operational portfolio of more than 1GW – enough to power more than 330,000 households each year. However, India is of key interest to the company after being part of a trade mission to the country earlier this year alongside Baroness Verma – who at the time was an Under Secretary of State at the Department of Energy and Climate Change. 12

December 2015

China Tycoons To Invest $5 Billion In Indian Renewable Power

hinese tycoons Liang Wengen and Nan Cunhui plan to pour $5 billion into India’s renewable power sector as Prime Minister Narendra Modi seeks a major expansion of clean energy in one of the world’s biggest polluters.Liang’s Sany Group will install 2,000 megawatts of capacity and generate 1,000 jobs from 2016 to 2020 at a cost of $3 billion, a statement released at a briefing in New Delhi on Thursday showed. Chint Group Chairman Nan said at the same event that his company will invest $2 billion in solar power and equipment.Modi’s goal is 175 gigawatts of green energy capacity by 2022, up from about 37 gigawatts, at an estimated cost of $200 billion — more than the size of Vietnam’s economy. Other billionaires such as SoftBank Group Corp.’s Masayoshi Son and Foxconn Technology Group’s Terry Gou have also outlined plans for substantial investment in clean power in India.The nation remains reliant on coal, which fires about 60 percent of its power generation capacity. Asia’s third-largest economy also needs to find the funds to pay for its green ambitions.

Dollar Contracts While Modi is trying initiatives such as dollar-linked solar contracts to cut costs and woo investment, India has yet to allow higher distribution charges so electricity utilities can afford more renewable supplies. “There have been billions in commitments made to invest in the Indian renewable sector over the last few years, which the government uses to tout as interest from the private sector. However, very little of these commitments turn into a real investment.”

- Raj Prabhu , CEO, Mercom Capital Group

Source: Bloomberg

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INDIA Railways Intends To Cut Rs 5000 cr On Energy Bill Railways intends to reduce its energy bill, which is to the tune of over Rs 34,000 crore annually, by Rs 5000 crore in five years through a comprehensive plan, Railway Minister Suresh Prabhu said recently

”Energy bill is the second largest in railways after salary and pension. So we have to use the energy in a such a way so as to optimise the cost,” he said here.While the diesel bill is about Rs 22,000 crore, the electricity cost is about Rs 12,500 crore a year in railways. Addressing the global meet on “Energy Efficient Technologies in Railways”, Prabhu said, “We have to focus on energy efficiency as it is very very important. The need is to use less energy with more efficiency.”Pitching for latest technology and innovative solutions for energy saving and cost reduction, he said, “We have to make a road map for it so that railways could reduce the energy bill by Rs 5000 crore in the next five years. A comprehensive energy efficiency plan needs to be worked out.”

INNOVATIONS for PERC, HJT, CIGS, CdTe

here are many options like solar power, wind energy, bio-diesel, waste to energy projects to reduce energy cost as well as carbon emission, he said, while adding that railways has undertaken energy audits to know the ground situation.”There is also a need to look into the demand side.Because there is a demand so there has to be supply for power.So an integrated plan needs to be worked out for looking into the power demand and how it can be reduced,” he said. Minister of State for Railways Manoj Sinha said the target of reducing energy bill in the five-year time frame should be adhered to strictly.Railways has harnessed about 10.5 MW of solar energy at level crossing gates, solar-based street lights, solar plants at many stations including Katra solar panels on some train roofs.Railways are also planning to set up 160 MW wind mill plants to reduce carbon emission.

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December 2015

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INDIA

China’s Sany Group Plans $3 Billion Investment In Renewables

“We are keen on seeing China investing more in India, especially in the manufacturing sector and partnering with India to make India a world class manufacturing base for production. This initiative is yet another step towards the ‘Make in India’ drive launched by our Prime Minister.”

Chinese construction equipment maker Sany Group has pledged to invest $3 billion (about Rs. 20,000 crore) in building 2GW of green energy units in India over the next 5-6 years, a move which is expected to aid government’s efforts to achieve its goals in the clean energy sector.

he group recently announced the signing and handover of green energy commitment to Prime Minister Narendra Modi towards development of 2,000 mega watt of renewable energy projects with investments of $3 billion for the period 2016-20. Besides generating 4.8 TWh of green and clean power annually these projects will generate 1,000 Jobs and prevent carbon emissions of around 3.6 million tons per year, according to a company statement. Sany will est ablish ef f i c i e nt te c h n o l o g i e s for off-shore wind power generation. It will also bring in its relevant expertise, operational excellence and global best practices for development of green energy projects in India.

“This investment is a significant step in deepening Sany Group’s presence and commitment to India. Green energy industry in India is growing and we see this as a huge opportunity to introduce our wind energy business in the country. We have invested in a potential market like India, and are excited about the future growth & potential for future investment. We believe that the agreement signing with Indian new energy enterprise will boost the mutual cooperation to a new height.”

- Liang Wengen , ,chairman, Sany Group,

Sany Group entered India market in 2002 and established a manufacturing plant in 2009 in Chakan, Pune. In India, the company operates in excavator, cranes, concrete machinery, port machinery, road and renewable energy businesses. It employs 269 people in the country.

-Amitabh Kant , Secretary, Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce & Industry.

Sany Group will launch in-depth cooperation with Indian enterprises in various industries including comprehensive use of new energy and infrastructure construction, and expand its business scopes in India, added the statement.

Source: TH

December 2015

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December 2015

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INDIA

Tata Power Solar & Lotus Temple collaborate for the temple’s 1st renewable energy project Tata Power Solar, India’s largest integrated solar company, has successfully commissioned a 120 kWp solar plant at the famous Bahá’í House of Worship, popularly known as Lotus Temple, located in New Delhi.

ata Power Solar collaborated with the Lotus Temple enabling them to take their first step towards going green and manage a quarter of their annual power requirement (i.e. 45600 units) through solar energy. This project will also help the temple displace nearly 120 tonnes of carbon dioxide (Co2) per annum. “By employing the solar energy route, we want to set an example and encourage our followers as well as visitors to the Lotus Temple to take on a sustainable way of living. We have had a good experience working with Tata Power Solar and would like to thank them in enabling us to realize our green energy goals. The Bahá’í House of Worship is frequented by a number of foreign diplomats and the project has been highly applauded by them. This initiative is in line with our philosophy of being in harmony with nature and will go a long way in creating a sustainable solution.” commented Shaheen Javid, General Manager, Bahá’í House of Worship. Commissioned within three months under SECI’s solar rooftop subsidy program, this project was set up using Tata Power Solar modules. Funded by the temple’s donations, the solar rooftop system is built on the temple’s existing accommodation facilities and basement. The project design is harmonious with the distinctive architecture of the temple and, being the quietest form of energy generation, complements the serene environment. The project comprises a Grid Tie system supported by a net meter, which allows for excess power generated to be fed back to the grid especially beneficial on closure days. This project, operational from February 2015, already had an estimated view of three million visitors. It has significantly facilitated the Lotus Temple to save around Rs 1.5 lakh as energy bills every month. “We are proud to partner with the Lotus Temple for a project of this nature, where a spiritual enterprise has taken the lead in using clean energy for their daily power needs. There is a strong need for collective effort in solarizing our country and initiatives such as this will help spread awareness on a larger scale while increasing access to clean energy.

- Ashish Khanna, ED & CEO, Tata Power Solar

December 2015

Waaree Energies Ltd. wins EPC contract for 75 MW Solar PV Plant in Gujarat Waaree Energies Ltd, number one Indian Solar Panel manufacturer and EPC solutions provider, has bagged yet another EPC contract for 75 MW Solar Power plant from a reputed company engaged in electricity Generation, Transmission and Distribution in Western India recently.

aaree will be setting up the power plant at the customers identified site in Gujarat. The scope of the work for Waaree energies, includes design, manufacture, supply, installation, operation and maintenance of the solar power plant. The plant is scheduled to get commissioned by March’2016. Waaree started manufacturing Solar PV Modules way back in 2007 in India and now offers a complete range of solar panels right from 4 Wp to 400 Wp as well as complete EPC (Engineering, Procurement, Construction) and turnkey solutions. Waaree has collectively commissioned more than 200MW of Solar PV projects across India. During the FY 2015-16, Waaree executed some big size, grid tied EPC contracts such as ‘Waaneep’, which is a 50 MW Project in Madhya Pradesh. Another 50 MW Project in Andhra Pradesh would break the ground soon. Waaree also recently executed a 27.5 MW EPC contract in the Bhadla Solar Park, Rajasthan for Roha Dyechem. Waaree Energies Ltd. is likely to execute EPC contracts of more than 300 MW’s during the current financial year.

“This will be one of the biggest solar plants to be built in Western India at a single location. This project provides us another opportunity to stand up to the expectations of all stakeholders in terms of supply capability and execution excellence. We have been able to meet as well exceed the expectations from our customer in our previously commissioned projects and winning this mega project is a testimony to the value that we are able to add to our customers.This contract gives us a further impetus in implementing the turnkey projects in the solar sector. Solar sector in India is poised for huge growthand till date we have made a substantial contribution to the Indian Solar industry and will continue to do so in the future.” - Viren Doshi, Director, Waaree Energies Ltd.

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BUSINESS FINANCIAL

Trina Solar Signs US$90 Million in Financing Facilities with Wells Fargo and Barclays Trina Solar Limited , a global leader in photovoltaic (“PV”) modules, solutions, and services, today announced that two of its overseas subsidiaries, Trina Solar (U.S.), Inc. and Trina Solar (Singapore) Science & Technology Pte. Limited (“Trina Solar Singapore”), have signed a total of US$90 Million in financing facility agreements with Wells Fargo Bank, National Association (“Wells Fargo”) and Barclays Bank PLC (“Barclays”).

he US$60 Million five-year revolving loan signed with Wells Fargo will be used to support Trina Solar US’s working capital and business operations. The Company believes this loan facility will provide the working capital necessary to capture the market opportunities in the region. The US$30 Million credit line with Barclays will be used to support Trina Solar Singapore’s working capital to better capture growing opportunities in the Asia Pacific region.

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“We are pleased to be working with both Wells Fargo and Barclays in our ongoing global expansion. In addition to our well established network in China, these two financing arrangements obtained through our overseas subsidiaries not only mark a new milestone for our company in terms of leveraging our global network to establish new financing platforms, but also reflect the growing confidence that premier global banks have in our business operations. We will continue to diversify our sources of funding to ensure that we have adequate funding at low cost to take advantage of the favourable market conditions in the solar energy sector. We are confident that these two credit facilities plus others will facilitate the execution of our growth strategies.”

-Ms. Teresa Tan, chief Financial Officer of Trina Solar

December 2015

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INDIA

Viessmann Photovoltaic Collaborates With Vikram Solar Viessmann,one of the leading international manufacturers of heating, industrial and refrigeration systems, is to become a sales partner to Vikram Solar, an international solar company. As part of the collaboration, Vikram Solar will supply Viessmann with solar modules from the Eldora Ultima series with an output of between 250 and 260 Wp.

he new module type is a valuable addition to Viessmann’s photovoltaic package, which includes solar modules, as well as inverters and mounting systems. There are plans to expand the collaboration to other countries as well. “When serving our discerning trade partners and customers, we depend on partners like Vikram Solar to produce and supply reliable solar modules that are proven to meet our exacting requirements. We look forward to working with Vikram Solar, our new collaboration partner.

-Joachim Rupp, Managing Director, Viessmann Photovoltaik GmbH’s “When serving our discerning trade partners and customers, we depend on partners like Vikram Solar to produce and supply reliable solar modules that are proven to meet our exacting requirements. We look forward to working with Vikram Solar, our new collaboration partner.

-Davide Marro, Head of Business Development Europe at Vikram Solar 18

December 2015

Odisha Bets Big On Solar Power, plans To Set Up 1,000 MW Park

The park has been formally approved by Ministry of New and Renewable Energy; likely to involve investment of about Rs 6,500 cr,Odisha has unveiled an ambitious plan to set up a 1,000-Mw solar park.

he park, to be developed on a publicprivate partnership mode, has been formally approved by the Ministry of New and Renewable Energy. It was likely to involve an investment of about Rs 6,500 crore, the official said.The state government is expected to commit There is a proposal for setting up a provision to buy 20 a 1,000-Mw per cent of the power solar park. The generated from the identification of park. Power producers land for the project would have an option is underway. For to sell the remaining setting up such power out of Odisha at a park, about bilateral prices, upon 5,000 acres are securing the first right required. Since it is of refusal from the an uphill task to get state government. a contiguous patch To d e v e l o p t h e of 5,000 acres in park, Green Energy Odisha, the park Development might be developed Corporation of Odisha in clusters.” Ltd (Gedcol) is likely to - A Govermnent sign a pact with Solar Official Said. Energy Corporation of India (SECI), after securing the approval of the state government. Gedcol is the nodal agency to explore renewable energy resources in the state.

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INDIA

In August 2014, the Union renewable energy ministry had unveiled a plan to develop 25 solar parks, each with capacity of 500-1,000 Mw. Odisha planned to set up one such park, with 1,000-Mw capacity.

ROOFTOP OFFGRID

Rooftop Solar Panels Policy To Be Before Cabinet Soon - Shri Piyush Goyal

- Swayam Prakash Baral, Director (business development and strategy) at Canyon Consultancy “We have not decided (on the solar park) yet. IDCO (Odisha Industrial Infrastructure Develo-pment Corporation) has been asked to identify land. A decision will be taken after that.” - Suresh Mohapatra, Energy secretary, Odisha. Odisha received average solar radiation of 5.5kWh/sqm, with about 300 clear, sunny days every year and solar power potential of about 20,000 Mw, Baral added. Due to high solar irradiance (measure of solar radiation) in districts such as Nabarangpur, Bolangir and Sundergarh, large solar power plants are likely to come up in these districts. Currently, Odisha had an installed solar power capacity of 64 Mw, Baral said.According to the SECI website, states such Madhya Pradesh, Andhra Pradesh, Rajasthan, Uttar Pradesh, Gujarat, Telangana and Karnataka are keen to set up solar parks and ultra mega solar power projects.

175,000 MegaWatt

The central government has set a target of generating 175,000 Mw of power through renewable energy sources by 2022.

Of that, solar power would account for 100,000 Mw, while 60,000 Mw would be generated by harnessing wind capacity. Besides, 10,000 Mw and 5,000 Mw would come from biogas and small hydro projects, respectively. Finalisation of Odisha’s renewable energy policy is in its last stages. In the draft policy, the state government had set an ambitious target of adding 3,000 Mw of renewable energy capacity by 2022 – 2,300 Mw in the solar sector, 350 Mw from wind sources, 150 Mw from small hydro electricity projects, 180 Mw from biomass and 20 Mw from municipal solid waste. Source: BS

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he policy to encourage rooftop solar power panels is ready and will soon be placed before the Union Cabinet for consideration and approval, Power Minister Piyush Goyal said. “I have approved the rooftop solar panel policy. I will take it to the Cabinet very soon,” he said while speaking at an award function organised by Dun & Bradstreet here. The policy, according to sources, will have detailed guidelines about installing rooftop solar panels on various buildings including government schools, colleges and other intuitions. Government has set an ambitious target of having 100 GW of solar power generation capacity by 2020 including 40 GW of rooftop solar. The policy will contain technical specification and other financial incentives for encouraging roof top solar projects. Goyal said that Prime Minister Narendra Modi chose to focus on structural improvement rather than providing quick fix or bandage solutions. He said this a focused approach on solar power will result in double digit economic growth in twothree decades.

December 2015

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BUSINESS FINANCIAL

Vikram Solar and British Solar Renewables Signing Deal at Solar Energy UK

Solar module manufacturer Vikram Solar has concluded an agreement with British Solar Renewables (BSR), a leading British project developer, to supply modules with a total output of 30 MW.

SR will be installing the PID-resistant Eldora Ultima modules in their upcoming solar parks with a total output of 80 MW, to be finished by the end of March 2016. Macquarie Bank has agreed to provide the financial backing for the projects. Before signing the supply agreement, British Solar Renewables conducted due diligence on both Vikram Solar and the Eldora Ultima modules. Vikram Solar’s tier 1 status, the financial stability of the Vikram Group and the technical quality of the products were among the decisive criteria in favour of the collaboration. Supplementary reinsurance from Solarif will cover replacement modules as needed.

“Based on the precise, power-optimized stringlayout in our solar parks, the performance is far above average, which makes it extremely attractive to our investors and future buyers. In Vikram we have found a technology partner who meets our high engineering standards while being cost-efficient. The Vikram brand is also recognized across the industry, which makes it easier to resell the solar parks upon completion.”

“We already supply the UK’s largest builders’ merchant, EH Smith, and the country’s largest electrical wholesaler, Edmundson Electrical. The collaboration with British Solar Renewables fits well with our goal of making Vikram Solar modules available across the market and recruiting the best partners in each market segment.” -Gyanesh Chaudhary, MD and CEO of Vikram Solar

-Angus MacDonald, CEO at British Solar Renewables

December 2015

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RESEARCH ANALYSIS

New Energy Storage Deployments In Asia Pacific’s Major Markets Are Expected To Total Nearly 37 GW From 2015 To 2025 A new report from Navigant Research examines the market for grid-tied energy storage systems (ESSs) in 22 countries, with forecasts for power capacity, energy capacity, and revenue, segmented by technology, through 2025.

“As the industry expands, different countries are expected to rely on different mixes of energy storage technologies and applications best suited to serve the needs of their local electricity grids, As expected individual market leaders for energy storage, the United States and China are projected to have a more balanced mix of utility-scale and distributed storage deployments, while other countries are likely to heavily favor one application.”

- Alex Eller

Research Associate, Navigant Research

hile system costs remain one of the largest hurdles to the energy storage industry’s growth, declining prices are helping to move the technology into diverse geographic markets. Because energy storage is quickly becoming a flexible and cost-effective tool for users to control energy costs and for grid operators to manage network instability, several countries are projected to see substantial growth in deployments in the coming decade, with five country-level markets in Asia Pacific expected to experience the largest increases globally. Click to tweet: According to a new report from Navigant Research, new energy storage deployments in Asia Pacific’s five major markets are expected to total nearly 37 GW from 2015 to 2025. The increasing amount of variable renewable energy generation being deployed in major markets worldwide, primarily solar photovoltaic and wind energy, is also driving interest in gridtied energy storage technologies, according to the report. Despite their advantages, however, these variable forms of generation are also presenting new challenges to the electrical grid.

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December 2015

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SOLAR ROOFTOP OFF GRID

Grid Connected Solar Rooftop Unit Commissioned At MPMKVVL Building With an aim to tap non- conventional energy sources in a major way, a grid connected solar roof top unit was commissioned at a building in Nishta Parisar which is an office of the Madhya Pradesh Madhya Kshetra Vidyut Vitran Company Limited (MPMKVVL).

he unit which was commissioned yesterday is a part of five MW grid connected solar power project that is being implemented by RattanIndia Solar, a RattanIndia group company, on more than 80 government buildings in Madhya Pradesh across cities of Bhopal, Indore and Jabalpur, a release said recently. These projects will serve as a pilot in showcasing benefit of solar solutions and will promote mass adoption of the same, it said.This project will not only help in cutting down the energy bills but will also ensure clean energy with zero carbon footprints.The plant was inaugurated by the Madhya Pradesh New & Renewable Energy Minister Rajendra Shukla.

only rooftop net metering system will bring solar energy revolution in Madhya Pradesh. More and more solar panels will be seen on rooftops of buildings in the state in coming time.Referring to steps taken by the state government in tapping solar energy in a major way, Shukla said that Asia’s biggest solar power plant of 135 MW capacity has been installed in the state and world’s biggest 750 MW solar power plant is going to be set up at Rewa, the release said.He said that open area has shrunk during present days. Therefore, rooftop net metering system is the best alternative.

- Rajendra shukla, Madhya Pradesh New & Renewable Energy Minister

December 2015

Private Sector To Light Up A Third Of Households Without Access To The Grid By 2020

he of f- grid lighting and household electrification sector will help light up close to 100 million homes by 2020, according to market trends presented at the 4th International Off-Grid Lighting Conference, organized by the Global Off-Grid Lighting Association (GOGLA) and the World Bank Group (WBG), in Dubai, UAE this week.The event showcased global efforts to improve energy access for those without reliable, gridbased electricity by promoting clean, quality off-grid lighting solutions. To date, the industry has helped customers save around $3 billion in outgoings such as kerosene and batteries, according to WBG and GOGLA-collected data presented at the event. Since the first conference in Ghana in 2008, when the industry was just taking off, more than 15 million solar lighting and electrification products have been sold, reaching 66 million people. Findings from a Bloomberg New Energy Finance report, due for release in January 2016, also highlight how investors have taken note and pumped almost a quarter of a billion dollars into the sector in the past two years alone, with emerging pay-as-you-go business models gaining particular traction.In just the last week, five GOGLA member companies announced newly raised investments at a combined total of $59 million, which will be used to provide new lighting solutions for hundreds of thousands. Koen Peters, Executive Director of GOGLA noted: “This was the first year the conference was held outside of Africa, signifying that the industry is coming of age. By building key partnerships, securing the right financing, the right policies, and ensuring product quality, I am confident we can deliver access to basic electricity to the 1.3 billion people who currently live without it.” “The World Bank Group played a key role in identifying this new market, working with the private sector to develop it, and is now enabling its scale-up as commercial investors come to the table. The impact of this sector will undoubtedly be transformational.”

- Russell Sturm, Global Head of IFC’s Energy Access and WBG’s Lighting Global program The conference was attended by around 500 key players from around the world, including investors, entrepreneurs, government representatives, and technology leaders. Nobel Laureate Professor Muhammad Yunus delivered the keynote address via video link, highlighting the role of social business models in delivering energy access at scale.Grant Shapps, UK Minister of State for International Development, stressed that the time to invest in offgrid solar lighting is now, as the industry is maturing to become a vibrant commercial market. He added that such investments will have an enormous impact on development.

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ASIA PACIFIC

Sterling and Wilson Wins order from Sindicatum Renewable Energy For Setting up a Solar Photovoltaic Power Plant in Clark Sindicatum Renewable Energy, the leading Singapore-headquartered Asian clean energy developer, has awarded globally leading Solar EPC, Sterling and Wilson, a contract to set up a new Solar Photovoltaic power plant in the Clark region of the Philippines.

he solar photovoltaic power plant will be installed in Clark Freeport Zone, and possess a solar power generation capacity of 23 MW. With this order, Sterling & Wilson has scaled a new peak as a trusted Global Solar EPC Company. Sterling and Wilson’s growing brand value as a technically competent, quality conscious, and cost effective solar solutions provider has been cemented with this order. Sterling and Wilson’s order book now stands at 101 MW in Philippines alone. The new project in Clark will be constructed under the Department of Energy (DOE) Philippines Solar Power Procurement Program under the Feed-in-Tariff mechanism. The output power will be evacuated to the nearest NGCP substation. No terrains are too tough for Sterling & Wilson when it comes to setting up efficient solar power plants. Technologically advanced services and comprehensive know how of thin film, mono crystalline, and polycrystalline modules; along with different foundation of ramming and rafting type leads the organization to provide best solutions to its customers internationally. Sterling and Wilson will design the plant structure to withstand adverse soil conditions and high wind speeds. Sterling & Wilson will hand over the fully functional solar power plant to its owners by February 2016. Clark Freeport zone is a former United States Air Force Base in Philippines that has now been redeveloped into an advanced economic center for Business, Industry, Aviation, Education, and Tourism in Philippines.

“Our hard work and persistence in being ever present and relevant in the International Solar market has started reaping good results. The fact that we have been awarded the contract for setting up a solar power plant in Clark Freeport Zone bears testimony to our superior engineering capabilities, experience, and expertise in setting up solar power plants internationally. We are confident of providing a technically superior and robust solar power plant that will stand the test of time.”

- Bikesh Ogra, President, Sterling and Wilson, Electrical & Solar Business

Risen Energy Announces that the Largest PV Carport is under Construction in Hangzhou Bay The largest PV carport began construction in Hangzhou Bay in the first half of 2015. The first phase, with a capacity of 20MW, will use 255W high quality PV modules from Risen Energy.

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he project total capacity is 55MW and covers an area about 20 soccer fields, which is enough space to park more than 20000 vehicles. It is the largest BIPV project in the world and will be used as a employee parking area at the Shanghai Volkswagen Ningbo Branch. The project is further evidence that Hangzhou Bay promotes comprehensive land development. Hangzhou Bay will combine future city planning, “wisdom city” and “low-carbon city” to accelerate the implementation of comprehensive development projects. It will overcome what is often referred to as “urban disease” and promote the sustainable development. Risen Energy, a top PV module manufacturer, is happy to be able to take part in the PV carport project and contribute to the sustainable development of Hangzhou Bay.

December 2015

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ASIA PACIFIC

JA Solar Provides Modules for the Largest Solar Project Ever Built in the Philippines JA Solar Holdings Co., Ltd., one of the world’s largest manufacturers of high-performance solar power products,recently announced that it completed a 92.5 MW shipment of modules in mid-October to be used in the largest solar photovoltaic (PV) power project ever built in the Philippines.

ocated in Cadiz City of the Negros Occidental province, the facility is designed for a total capacity of 132.5MW, 92.5MW of which will be equipped with JA Solar’s JAP6-72 310W modules, including an initial on-site installment of over 30MW. The Negros Occidental province is located near the equator and the facility is located approximately 3 km from the coastline. Maximum wind speeds at the facility have been clocked at 56 meters/second (125 mph). The strong winds, combined with humid and salty air conditions require superior performance solar modules resistant to potential induced degradation (PID), salt spray corrosion and wind pressure. As the first manufacturer worldwide to have started mass production of 100% PID-resistant cells, JA Solar produces modules with industryleading PID-resistance. In early August 2014, JA Solar announced that its high-efficiency polycrystalline RIECIUM module passed the 500hour PID test administered by TÜV SÜD. The tests were conducted under extreme conditions of 85 degrees Celsius, 85% relative humidity and 1,000 volts of system voltage bias.

In March of this year, JA Solar’s salt mist resistance PV modules passed the Double Standard IEC 61701 Salt Mist Corrosion Test (Severity Level 6) conducted by TÜV NORD. Following 112 days of testing, JA modules demonstrated a power loss of less than 2%. In terms of its load performance, JA Solar’s JAP6 modules are able to perform under high wind loads (2400Pa) and snow loads (5400Pa), ensuring long-term stability and power output efficiency. “The module shipments for the solar project in Cadiz City mark JA Solar’s first entry into the Philippine market, demonstrating our resolution and confidence in building a presence in emerging markets. The superior PID-resistance, performance and reliability of JA Solar’s modules ensure efficient and reliable power output in the hot and humid conditions of the Philippines.” - Mr. Jian Xie, President, JA Solar

December 2015

Jolywood acquires Boxi Electric , Layout N type Mono solar cells business Jolywood released public notice that a joint cooperation between Yingli Solar (China), Shanghai Yijing Capital is agreed based on N type mono double side cells , the three parties will start deep cooperation regarding to capital , technical and bossiness sectors.

he three parties together acquired Shanghai Boxi Electric, which will be the platform for its business operation, technical coopration and capital operation. Jolywood’s main business is solar module backsheet, now it has been the leading enterprise in this sector, supplied more than 9 GW backsheet worldwide. From this acquisition , the Yingli “Panda”cells manufacturing line will be improved and upgraded, new technology will be put into use in the future manufacturing N type mono high efficiency solar cells. 8 lines will be upgraded, upto 400MW capacity. Technical adjustment will be finished before 2016 year end,by then it will fulfill the demand for its clients’ solar power station requirement , including Jolywood’s own solar plant.

Jolywood ,Yingli and Yijing will acquire-

110 million shares from Boxi Electric

64.4 million from which Jolywood acquires 64.4 million shares Yingli acquires 23 million shares and Yijing Capital acquires 22.6 million shares.Through the above acquirement , Jolywood will expand its traditional backsheet business area to N type mono cells and solar power plant investment.

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RESEARCH ANALYSIS

Tight Supply Of Solar Wafers May Remain Till March 2016, Say Taiwan Makers Supply of solar-grade crystalline silicon wafers, due to heating demand for setting up PV power-generating stations and distributed PV systems in China, has been in tight supply and the shortage is likely to continue until March 2016, according to Taiwan-based crystalline silicon solar cell makers.

he growing demand is mainly because the China government has increased the target total PV installation capacity for 2015 by 29.8% from 17.8GWp originally to 23.1GWp the sources said. In addition, many of first-tier China-based solargrade crystalline wafer makers produce PV modules in house and are EPC (engineering, procurement, construction) contractors for PV installation projects and thus appropriate large proportions of solar-grade crystalline wafer output for own use, resulting in decreased supply for outside users.

GCL-Poly Energy Holdings, the largest China-based solargrade polycrystalline wafer maker with annual production capacity of 13GWp, has increased quotes for October and may do for November, - SOURCES SAID

Taiwan-based fellow maker Green Energy Technology has seen production capacity short of demand, but whether to hike prices in November will hinge on market conditions. - Swean Lin, president, Green Energy Technology

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ASIA PACIFIC

JA Solar Launches 400MW Solar Cell Manufacturing Facility in Malaysia JA Solar Holdings Co., Ltd., one of the world’s largest manufacturers of high-performance solar power products, today announced the launch of its high-performance 400MW photovoltaic (PV) solar cell manufacturing facility in Penang, Malaysia.

he Facility, which is JA Solar’s first manufacturing facility outside of China, is equipped to produce high-efficiency multi-crystalline solar cells for use in PV power generation. These cells will primarily be used to manufacture JA Solar modules outside of China to provide competitive product solutions for certain overseas markets. JA Solar invested approximately MYR300 million in the facility located in the Penang Bayan Lepas Industrial Park. The Facility will provide up to 700 job opportunities for the local economy, and is able to accommodate further expansion in production capacity as needed to meet growth in demand.

“We are pleased to launch our manufacturing plant in Malaysia, as the country offers many attractive benefits including an investment-friendly and supportive business environment. Penang’s strategic location in Southeast Asia, its accessibility to airports and seaports, and the availability of reliable infrastructure are advantageous for our additional manufacturing capacity as we continue to explore new export markets.”

-Mr. Baofang Jin, Chairman and CEO of JA Solar

Mr. Baofang also added “We are happy to note that JA Solar Malaysia is fully compliant with all local regulation, having received the necessary business, manufacturing and environmental licenses and approvals from government authorities including the Malaysian Investment Development Authority and the Department of Environment. We will continue to work with the relevant federal and state government agencies to ensure continued compliance with all rules and regulations.”

China Sunergy Opens Solar Cell Factory In Incheon, Korea China Sunergy Co., Ltd., a specialized solar cell and module manufacturer, recently announced that the Company’s solar cell factory in Incheon, Korea has started formal operation. Located in INCHEON-SI, KOREA, the factory covers an area of approximately 5000 m2 , and has annual production capacity of 200MW.

December 2015

he factory started trial production in May 2015, and turned into formal operation recently. According to current plan, once the capacity utilization rate at Korea plant reaches 80% or higher, China Sunergy will consider expanding the total production capacity of solar cells in the Korea plant to 500MW by building additional solar cell production lines . In addition, the Korea plant has begun the cooperation with local solar module manufacturers to produce CSUN-branded solar modules in order to vertically integrate its supply chain.

“We are delighted to see our facilities in Korea start formal operation. As another major step forward in CSUN’s global operations strategy, the Korea plant is able to efficiently serve customers across Eastern Asia and even Asia-Pacific region, where represent growing demands for alternative energy consumption.”“Since the inception of our first oversea plant – Turkey plant, our efforts to diversify CSUN’s manufacturing base never stop. The move helps to enhance our global supply chain, gain access to local customers and minimize potential negative impacts from anti-dumping cases in the US, EU, or elsewhere. Looking ahead, we will continue to improve our cost competitiveness and strengthen our global footprint by the combination of moving our existing facilities in mainland China and building new facilities in the countries which have cost and geographic advantages.”

-Mr. Tingxiu Lu, Chairman and CEO of China Sunergy

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BUSINESS FINANCIAL

he New Development Bank of the BRICS (an association of Brazil, Russia, India, China and South Africa) is to finance its first project in the sphere of renewable energy, India’s Prime Minister Narendra Modi said recently at a meeting of the BRICS leaders on the sidelines of the Group of Twenty summit in Turkey’s Antalya. He said the bank would soon launch its work and its first project was to be in the sphere of renewable energy sources, preferably, in the territory of the BRICS. He noted the importance of the strategy of the development of economic cooperation within the BRICS that had been adopted at the BRICS summit in Russia’s Ufa.

BRICS New Development Bank to finance its first renewable energy project - Indian PM

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He said the BRICS contact group on trade and economic issues and the BRICS business council were to draft a plan of action to implement this document.He also suggested a roadmap be elaborated to develop cooperation within the BRICS in the spheres of trade, economy and investment till 2020.

December 2015

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BUSINESS FINANCIAL

India To Lead Green Bond Market In Asia: Moody’s

India has come up as an early leader in Asia’s incipient green bond market and is expected to be a prominent driver of regional issuance in coming years

ADB, India Sign $200 Million Loan to Support Renewable Energy Projects ”India has established itself as an early leader in Asia’s nascent green bond market, with three India-based issuers coming to market in the third quarter(July-Sept)” -Henry Shilling, senior Vice President , Moody’s

“We expect India, along with China, to be a prominent driver of regional issuance in coming years, given ambitious targets on building out renewable energy capacity,” Shilling added. ndia has set a target of 175 GW of renewable energy capacity by 2022.Moody’s further said that global green bond issuance reached USD 7.5 billion in the third quarter of 2015, lifting year-to-date green bond issuance to USD 27.2 billion. Though down from Q2, Moody’s expects issuance will pick up in the last quarter (October-December) and exceed USD 40 billion for the full year 2015.”Issuance continued to break new ground in the third quarter in terms of noteworthy and firsttime transactions, such as the first green bond transaction by a Chinese issuer,” Shilling said.Moody’s conclusions were contained in its just-released report on the global green bonds market ‘Third Quarter Issuance Lags, but COP21-Linked Increase Is Likely.’

The report further said that nearly half of the third quarter’s issuance proceeds or about USD 4 billion are being earmarked for renewable energy projects. This is followed by 18.8 percent or about USD 1.7 billion earmarked for sustainable water management followed closely by USD 1.6 billion allocated to energy efficiency projects. Investmentgrade issuance continued to dominate in the third quarter but high-yield green bonds gained as a share of all Moody’srated green bond transactions, it said. Nearly 18 percent of issuance in the third quarter was attributable to below-investment grade issuers, up from just 5 percent in the second quarter, it added. Furthermore, green bond performance registered a slight gain in the third quarter. The July-September period also saw more standard-setting initiatives aimed at bolstering green bonds standards as well as issuance, it said.

The Asian Development Bank (ADB) and the Government of India have signed a $200 million loan agreement to support lending by Indian Renewable Energy Development Agency (IREDA) to eligible renewable energy subprojects in India.

he loan is the first tranche of a $500 million multitranche financing facility (MFF) to IREDA for the Clean Energy Finance Investment Program. The Program aims to leverage public sector resources to cataly ze private sector investments in renewable energy sub p roj e c t s inclu ding wind, biomass, hydropower, solar, and cogeneration technologies.

REC to raise Rs 700 crore via tax free bonds State-run Rural Electrification Corp said it plans to raise Rs 700 crore through public issue of tax-free nonconvertible bonds. “REC plans to raise funds through Public Issue of Tax Free Secured Redeemable Non Convertible Bonds with Face Value of Rs 1,000 each for an amount of Rs 300 crore with an option to retain oversubscription of up to Rs 400 crore aggregating up to 700 crore in this tranche,” the company said in a press release.

he interest income on bonds is exempt from tax in the hands of the investors, it said. The Issue will open on October 27, and close on November 4, with an option for early closure or extension as may be decided by the Board of Directors or the Bond Committee of the company. The NCDs are proposed to be listed on the BSE.

Source:Moneycontrol

December 2015

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BUSINESS FINANCIAL

“ADB’s loan will help the government scale-up renewable energy infrastructure by facilitating investments in projects that will balance the objectives of growth, climate change, and energy security, ADB funds can be used to finance up to 50% of the subproject cost, and the first tranche loan will help IREDA debt finance around 10 or more renewable energy projects, depending on the individual project sizes.” -M. Teresa Kho, Country Director for ADB in India, who signed the loan agreement on behalf of ADB.

& ADB funds will partly meet the long-term credit IREDA needs to meet its renewable energy development target. IREDA is a government-owned nonbank financial institution established to promote renewable energy investment and under the administrative oversight of the Ministry of New and Renewable Energy.

“Lack of sufficient long-term debt financing for renewable energy projects in India is one of the major challenges to sustaining high levels of renewable energy deployment. This program will help meet this requirement by providing long-term funds for these subprojects.” -S. Selvakumar, Joint Secretary (Bilateral Cooperation), Department of Economic Affairs, Ministry of Finance, who signed the agreement for the Government of India.

The program is expected to leverage an estimated $300 million in equity and other investments from subproject sponsors, and at least $200 million of additional debt funds from unrestricted sources for a total investment program of around $1 billion. This translates into approximately 990 megawatts of additional renewable energy capacity. ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members—48 from the region. In 2014, ADB assistance totaled $22.9 billion, including cofinancing of $9.2 billion. A K Capital Services Ltd, Edelweiss Financial Services Ltd and R R Investors Capital Services Pvt. Ltd are the Lead Managers. Karvy Computer share Private Limited is the registrar to the Issue while SBI CAP Trustee Company Limited is the Bond Trustee to the Issue. The funds raised through this Issue will only be utilised towards lending operations of the company and other associated business objectives. REC is a public financial institution in the Indian power infrastructure sector. It is engaged in the financing and promotion of transmission, distribution and generation including renewable energy projects throughout India and occupies a key position in the Government’s plan for the growth of the Indian power sector.

REC assists their clients in formulating and implementing a broad array of power projects and finances those projects. The central government holds 60.64 percent as on September 30, 2015 of the issued and paid up equity capital. The company is one of only 17 Indian public sector undertakings to have been granted the ‘Navratna’ status by the Department of Public Enterprise by virtue of its operational efficiency and financial strength. Source: PTI

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December 2015

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BUSINESS FINANCIAL

Goldman Sachs Announces $150 Billion Clean Energy Target by 2025 in New Environmental Policy Framework The Goldman Sachs Group, Inc. recently announced that it will expand its clean energy target to $150 billion in financings and investments by 2025 as part of its updated Environmental Policy Framework.

irst established in November 2005, the new framework codifies the roadmap for continued environmental progress across each of Goldman Sachs’ businesses.

“Over the past 10 years, we have built on our commitment to harness market-based solutions to help support a healthy environment and address the problem of climate change. We will continue to work towards deploying innovative financial mechanisms through an expanded investor base focused on environmental opportunities,” -Lloyd Blankfein, Goldman Sachs Chairman and Chief Executive Officer

ReNew Power Ventures Pvt. Ltd. raises additional • • • •

Abu Dhabi Investment Authority, a new investor in ReNew, makes equity investment of $200 million Goldman Sachs makes additional equity investment of $50 million Global Environment Fund makes additional equity investment of up to $15 million With this new round of funding, ReNew Power has raised a total equity of $655 million

eNew Power Ventures Pvt. Ltd. (“ReNew Power”), one of India’s largest clean energy companies, today announced that it has raised new equity funding of $265 million from new and existing investors. The lead investor in this round is a subsidiary of the Abu Dhabi Investment Authority (ADIA), with a commitment of $200 million for a significant minority stake in ReNew Power. The new funds will be used for capital expenditure related to implementation of solar and wind projects. ReNew Power’s largest investor Goldman Sachs (NYSE: GS), a global investment bank and active investor in India, is participating in its fourth round of funding in the company through an additional $50 million commitment, taking its total investment in the company to $370 million.

Another existing investor, Global Environment Fund will be adding up to $15 million to its existing investment, taking its total investment to $35 million. With this new round of funding, ReNew Power has raised a total equity of $655 million. The company currently has an asset base in excess of $1.5 billion and expects to finish the year with an asset base of over $2 billion. 30

December 2015

“This deal further positions ReNew as the preeminent company in the clean energy sector in India. We are at an inflection point where transformational use of natural resources will define our energy future. This fundraise comes at an exciting time for us as we enter a new phase of growth. The years ahead will define ReNew Power’s role in transforming how energy is produced, transmitted and distributed in this country.” -Sumant Sinha, Founder Chairman and CEO, ReNew Power

“Since our initial investment in September 2011, ReNew Power has continued to demonstrate its leadership in this critical sector and expanded its clean energy portfolio. Goldman Sachs’ additional investment in this fourth round of funding further verifies and symbolizes our continued conviction in the company’s strong future growth prospects and commitment to India’s focus on clean energy.” -Ankur Sahu, Co-Head of private equity at Goldman Sachs in Asia

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BUSINESS FINANCIAL

The updated Environmental Policy Framework includes expanded targets and key initiatives that will guide Goldman Sachs’ ongoing contributions to a sustainable future. Some highlights include: »»

By 2025, Goldman Sachs will target $150 billion in clean energy financing and investments, expanding the existing $40 billion target set in 2012.

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By 2015, Goldman Sachs will be the first US investment bank to be carbon neutral across its operations and business travel. By 2020, the firm will target $2 billion in green operational investments and seek to source 100 percent renewable power for its global electricity needs.

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Goldman Sachs will target the deployment of clean energy solutions to underserved markets to facilitate more equitable and affordable access through the launch of a Clean Energy Access Initiative.

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The Goldman Sachs Center for Environmental Markets will invest $10 million in grants through partnerships that will demonstrate the potential of innovative financial mechanisms to unlock capital for environmental solutions.

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The framework also includes initiatives to facilitate capital for water, climate risk solutions and other environmental opportunities, and to develop innovative applications for green bonds, as well as our approach to environmental and social risk management. In addition, Goldman Sachs Asset Management will expand its Environmental, Social and Governance (ESG) and impact investing capabilities.

$265 million of equity “We are delighted to participate again with world class partners investing in ReNew Power which has managed to consistently deliver scalable and optimal wind and solar projects across multiple states. Drawing on GEF’s experience investing in the renewable energy value chains across the Americas, Europe and Asia, we are looking forward to working with ReNew Power in building a world class energy company.” - Sridhar Narayan, Managing Director, Global Environment Fund India Advisors Founded in early 2011 by Sumant Sinha, ReNew Power has more than 1,600 MW of commissioned and underconstruction clean energy assets. Of this more than 700 MW assets are already commissioned. Currently, it operates in eight states (Gujarat, Haryana, Madhya Pradesh, Rajasthan, Maharashtra, Karnataka, Telangana and Andhra Pradesh) across the country. Additionally, it has a development pipeline of more than 1GW solar, wind and solar rooftop projects.

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“Environmental issues have become increasingly relevant to our clients and our investors, and have become core to our business. We are leveraging the talents of our people and the breadth of our businesses to facilitate the transition to a low-carbon future and promote sustainable economic growth.”

-Kyung-Ah Park, Head of Goldman Sachs Environmental Markets Since 2006, Goldman Sachs has invested and financed $65 billion in clean energy around the world, structured over $14 billion in weatherrelated catastrophe bonds and invested $3.3 billion in green operational investments with over 50% of its global office portfolio now green building certified. Goldman Sachs has been at the forefront of innovative green finance, including the first rated solar securitization, the first U.S. YieldCo listing, the first century green bond and the first green market securitization.

Some of ReNew Power’s not able achievements: 1. ReNew Power has the largest portfolio of commissioned (700 MW) and in construction assets (900 MW) in the clean energy space in India, with a large presence in both solar (600 MW commissioned and in construction) and wind (1,000 MW commissioned and in construction). 2. In September 2015, the company installed and commissioned India’s tallest wind tower. It is a lattice/ tubular tower (hybrid tower) of 120 m height, installed for the first time anywhere onshore in the world. 3. Since its inception in FY 12, ReNew Power has maintained a market share of more than 10% of total installed wind capacity in the country. 4. Also, in September 2015, it launched the first ever infrastructure bond issuance, credit enhanced by IIFCL, rated AA+.

5. ReNew Power is the best capitalized renewable energy company in the country with Rs 4,000 cr of equity capital. 6. The company is the largest capital raiser in debt markets in the renewable energy IPP sector in the last 3.5 years with over Rs 8,000 cr of debt sanctions. 7. All ReNew Power projects are UNFCCC (United Nations Framework Convention on Climate Change) registered. 8. Scheduling and Forecasting is being done for all ReNew projects, both wind and solar. 9. Till date ReNew Power has constructed over 710 kms of rural roads and 1,100 km of transmission lines. 10. Currently commissioned ReNew power projects have mitigated 2.5 million tons of CO2 emissions till date, and will mitigate more than 28 million tons of CO2 emissions in their lifetime. EQ

December 2015

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COP 21 Gyanesh Chaudhary comments on India’s role critical in addressing Climate Change

Mr. Narendra Modi & Francois Hollande invite over 100 countries for solar alliance Minister Narendra Modi and French President Francois Hollande have jointly invited over 100 countries to International Solar Initiative to be launched by them on November 30 at Paris climate meet.According to officials, Modi and Hollande have jointly sent written invites to 100 plus countries to International Solar Initiative at Paris Climate Conference ( COP21).

he two leaders invited the countries saying that in their view, a coalition of countries joining hands to accelerate the development of solar power would have the potential to contribute significantly towards a common objective of sustainable development, universal energy access and energy security. The alliance will also take the countries closer to their shared vision to bring clean, affordable and renewable energy within the reach of all, the leaders said.The idea of solar alliance was mooted by Modi during the the India-Africa Forum Summit here last month.The alliance is to be named the International Agency for Solar Policy and Application (InSPA) and is aimed at a host of African nations and others located between Tropic of Cancer and Tropic of Capricorn.

InSPA will act as a platform for countries to share technologies as opposed to relying on costly transfers from the EU and US.The initiative comes against the backdrop of India’s recent INDC submission where it committed to having 40 per cent of its energy mix coming from alternative sources by 2030. It has also targeted an ambitious 100 GW of solar capacity by 2022.

Vikram Solar, a globally recognized leading solar energy solutions provider participated in the 21st Conference of Parties of the United Nations Framework Convention on Climate Change (COP21) in Paris. The company was represented by Mr. Gyanesh Chaudhary, MD & CEO. “India has already demonstrated its commitment to clean energy by setting solar energy target of 100 GW by 2022. This commitment has been further enforced with India taking a leadership position globally by the formation of International Solar Alliance. We are optimistic that the Alliance will not only help in attracting further investments in the solar sector but encourage collaboration in research and innovation. He added “ I firmly believe that today India is creating climate for change.” “India is blessed with massive solar potential of 748 GWP and if this resource is utilized to its fullest, carbon footprints in a developing nation like India could be brought down to a great extent.”

-Gyanesh Chaudhary, MD and CEO of Vikram Solar

He further added that India will be one of the major driving powers in the battle against climate change.As a leading solar module manufacturer and EPC player, Vikram Solar has been actively shaping the solar energy revolution since 2006

Source: PTI

December 2015

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COP 21

India ready to cut coal dependence if given clean-tech, funds India is ready to reduce its reliance on coal further if the developed countries agree to help it shift to cleaner energy sources with adequate finances and technology, a top negotiator has said as attempts intensified to find a long-term solution to climate change by phasing out carbon emissions.

mid reports that it would be singled out over its plans to expand coal usage to meet its energy demands, India made it clear that development of solar and wind energy will remain its first commitment followed by hydro and nuclear power while the rest will be from coal. At the same time, India also said it was ready to reduce its reliance on coal if the developed countries were ready to support a quicker transition of India’s economy towards renewables with adequate finances and key “We have made it technology. very clear that solar Hinting at developed nations, Mathur and wind are our first also made clear that India also looks at commitment. Hydro, an agreement in Paris which “enables” financial support from those nations who nuclear – all of these have developed on the “backs of cheap non carbon sources are energy”.”We look forward to an agreement what we will develop to that enables financial support from the the largest extent that countries that have developed on the backs of cheap energy to those who have to meet we can. What cannot their energy demands with more expensive be met by these will be but low carbon or zero carbon energy,” he met by coal,” said.Developing countries need money and technology to make the switch to clean - Mr. Mathur Said at UN energy sources like solar and wind power. climate conference. They are also asking for money to adapt to climate change. The developed countries are willing to help but reluctant to make firm commitments.The 12day climate conference here will, for the first time in over 20 years of UN negotiations, aims to achieve a legally binding and universal agreement on climate, with the aim of keeping global warming below 2 C over pre-industrial temperatures.

“India is looking at enhancing renewable energy capacity by over seven times. This enhancement of renewable is “not” getting as much attention as the fact that the balance will be met by coal electricity.Coal will increase by two to two-and-half times and this is getting far more attention than the fact that it would also mean a seven times increase of renewables.”We are looking at something in 200 GW of solar and wind energy by 2030,” -Ajay Mathur, India’s key negotiator

Source: PTI

IDBI Bank launches USD green bond issue from Dubai centre BUISNESS FINANCE

IDBI Bank recently launched an issue of US dollardenominated green bonds through its Dubai branch. The bank will utilise the proceeds to fund new and existing green projects, IDBI said in a filing to the BSE.

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DBI Bank has launched the US dollar fiveyear green bond issue today,” the filing said. The issue of the green bond is through its Dubai International Financial Centre branch. “The issuer will use the net proceeds from the sale of the notes to fund, or reimburse the issuer for its funding of, certain new and existing eligible green projects,” it added. IDBI Bank did not mention the amount to be raised through the green bond issue. Separately, Fitch Ratings on Monday assigned IDBI Bank’s (BBB-/Stable) proposed senior debt issue a ‘Stable’ rating of (BBB-). Moody’s and S&P have also assigned stable rating grade to the issue. Source: PTI

December 2015

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ROOFTOP OffGRID

Solar Rooftop Systems Subsidy Will Remain At 30% Solar rooftop systems will continue to be subsidized by 30%, despite the Union ministry of new and renewable energy (MNRE)’s June announcement of hacking it by half.

ndustry experts are not thrilled about the decision, citing state incompetency in doling out the subsidy on time, possibility of poor quality products from suppliers while leaving manufacturing costs unchanged.The recent announcement from the ministry mentions that the subsidy comes under the Central Financial Assistance (CFA) scheme and is part of the ‘Grid Connected Rooftop and Small Solar Power Plants Programme’.In September, the Maharashtra Electricity Regulatory Commission (MERC) had also announced guidelines which would let people with solar rooftop systems to connect to the grid. The recent November notification and subsidy revision comes as a modification of the June 26 circular.While MNRE has set a target for installation of 100 GW solar power, with a 40% chunk of grid-connected solar power, a subsidy of 30% will be given to all in general categories, who have connected their solar rooftop systems to the grid.Commercial and industrial establishments have clearly been excluded from the 30% subsidy, citing reasons that such establishments are “eligible for other benefits such as accelerated depreciation, custom duty concessions among others.”Experts have confessed themselves unhappy at the move, stating that, in the past, the government failed to disburse the subsidy on time. Subsidies worth Rs 375 crore are reportedly pending with the government since 2012. “First, this sector does not require subsidy, and secondly, any subsidy leads to inferior products, not to mention the government’s record of not being able to disburse subsidies on time. Instead of increasing the subsidy, they could have come out with a low interest finance scheme. Our calculations show that the high cost of finance in India nearly doubles the project cost and enhances the payback period. Secondly, subsidies lead to lower quality as suppliers take undue advantage, while it also does not motivate the manufacturers to bring down the costs.”

- Jaideep Malaviya, An expert on solar systems “While commercial and industrial establishments have been excluded from the high subsidy, the government should also note that loans for setting up solar rooftop systems should be made easier.” “Facilitation of the processes should be made easier and quicker – such as processing of application forms.”

-Ashwin Gambhir, Prayas energy group

Making Solar Bankable: SolarTown Installs Solar PV Rooftop Systems at RBL Bank Branches

olarTown Energy Solutions Pvt. Ltd. a pioneer in India’s solar industry specializing in the sale, lease and installation of solar rooftop systems for residential, commercial and industrial customers, announces the installation of solar rooftop systems at an initial ten branches of RBL Bank, one of India’s fastest growing private sector banks, with more than 180 branch locations throughout India. RBL Bank, formerly known as The Ratnakar Bank Limited, is estimated to save ₹146,000 annually by opting for solar PV rooftop systems at ten of its sites. Each branch will feature a minimum 3 kW system which will offset a major part of the business’ energy consumption and more than 70 tonnes of carbon dioxide over the lifetime of the solar installation.RBL Bank entered into a no upfront costs, 10-year lease agreement with SolarTown. The installations will enable an uninterrupted supply of clean power at a fixed cost over the length of the lease, which also includes maintenance services. SolarTown installed the rooftop solar power systems including inverters and batteries, as a backup for brownouts. SolarTown is one of the first to offer a zerodown lease and unique purchase options for residential and commercial customers in the 1 kW to 300 kW size in India, ideal for homes and small commercial buildings with monthly usage between 400 kWh and 40,000 kWh. SolarTown’s solar PV rooftop systems completely eliminate the dependence on diesel-based generators, the hassle of maintaining the systems, and pollution derived from burning diesel fuels. The fixed monthly lease option, lower than DISCOM rates, shields the customer against increasing electricity and diesel prices. SolarTown’s lease option makes solar PV systems highly accessible and empowers customers to take control of their power generation without straining their bottom line.

“It’s a privilege to provide our solar PV systems to one of the fastest growing commercial banks in India. It gives us immense satisfaction to know RBL Bank will generate clean power and also save on electricity costs.”

Box:- Subsidies or central financial assistance will be provided through state nodal agencies, state governments, Solar Energy Corporation Of India (SECI), Indian Renewable Energy Development Agency (IREDA), participating banks and empanelled DISCOMSOther state benefits for installing grid-connected solar rooftopa and small solar power plants- 10 years’ tax holidayLoans for system aggregators from IREDA at concessional rates (9.9% to 10.75%)Loans available upto Rs 10 lakhs for individuals and upto Rs 15 crore for renewable energy projects under Priority Sector Lending Toll free solar helpline: 1800-233-4477

-Vikram Dileepan, founder and CEO of SolarTown

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December 2015

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INDIA

SunEdison Enters into Agreement to Sell 425 MW to TerraForm Global SunEdison, Inc., the largest global renewable energy development company and TerraForm Global, Inc. (Nasdaq: GLBL), a globally diversified owner and operator of clean energy projects, today announced that they have entered into an agreement for SunEdison to sell TerraForm Global a series of projects located in India for the aggregate equity consideration of $231M subject to purchase price adjustments in favor of both SunEdison and TerraForm Global.

hese projects will replace a portion of the projects and the associated CAFD that were part of TerraForm Global’s initial portfolio, which have subsequently been terminated acquisitions. The projects will generate 425 megawatts of capacity in aggregate. A portion of the purchase price was paid on November 20 and the remainder of the purchase price will be payable on or before December 7, 2016, unless otherwise agreed. SunEdison utilized a portion of the proceeds from the sale to partially pay down its margin loan.

“This transaction provides higher yields replacing lower-yielding IPO projects that were intended to be acquired through M&A and is consistent with our strategy to focus on organic growth provided by our sponsor,” -Brian Wuebbels, Chief Executive Officer of TerraForm Global

“We are pleased to be able to add these accretive assets with 20 year contracted cash flows to TerraForm Global’s portfolio and believe they are critical to achieving our 2016 dividend guidance. This agreement is a winwin for both SunEdison and TerraForm Global shareholders. This transaction provides accretive DPS to TerraForm Global shareholders.” -Ahmad Chatila, President and Chief Executive Officer of SunEdison

NTPC installs 150 kWp Rooftop Solar PV plant at its Power Management Institute Shri A K Jha, CMD, NTPC inaugurated 150 kWp Rooftop Solar PV plant at NTPC’s Power Management Institute , implemented under SECI Rooftop Solar PV scheme, with 30% subsidy from MNRE.

W Shri A K Jha, CMD, NTPC

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ith installation of 80 kWp at NETRA , 110 kW at Engineering office Noida aggregating to 340 kW in NCR region is expected to generate 0.5 MU electricity avoiding around 485 ton CO2 per annum. Company is targeting rooftops of all its building and power stations for solar installations.NTPC has ground mounted installed capacity of 110 MW Solar PV at 8 locations including 50 MW at Rajgarh in Madhya Pradesh.

December 2015

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ROOFTOP OffGRID

Godrej & Boyce Mfg. Co. Ltd is pleased to announce installation of its Solar Roof Top Power Plant with Net Metering in Okhla, New Delhi Godrej & Boyce Mfg. Co Ltd is pleased to announce successful commissioning of solar roof top installation with Net metering for Mani Overseas Ltd, Okhla, Delhi. This plant is successfully generating solar power.

ndia has slowly started running towards decentralized solar roof top solutions wherein the company like Godrej & Boyce Mfg.Co. Ltd finds it as potential market and consider it as Solar Roof top revolution in India. There are approx. 20 states wherein net metering has been approved or in draft stage and there are certain Union Territories / States like Delhi / Chandigarh, Karnataka who are very aggressive in implementing the net metering scheme.Last year, Delhi Electricity Regulatory Commission had announced regulation for net metering in Delhi for promoting clean & green energy from solar energy. The regulator outlined & urged discoms to promote the net metering concept so that consumers will be benefitted from this initiative. Net metering has multiple benefits. It gives consumers a chance to become renewable energy producer and reduce their electricity bills. The amount of power generated from solar power plant first will be utilized in captive consumption and extra power generated will be supplied to the grid. This will help consumers to utilize the power generated on Sunday / public holidays and the electricity bill generated will adjust / net meteredunits feed to the grid.

Godrej & Boyce Mfg. Co. Ltd has always been inclined towards using and promoting clean & green energy and hereby request other DISCOMS / state utilities and regulators to join hands with Ministries / Developers / Finance institutes / EPC installers for getting the procedures and net metering approvals & guidelines in place and join the solar revolution in India. -Mr. Raghavendra Mirji, AVP & Head – Power Infrastructure & Renewable Energy

December 2015

Su-Kam successfully installs a 75 KWp Rooftop Solar Plant at IFFCO Chandigarh Su-Kam Power Systems Limited, India’s leading power back up solutions provider announced the successful installation of a 75 KWp Rooftop Solar Plant at IFFCO Chandigarh.

he Solar Plant, installed under a contract with SECI, will produce tentatively 1,02,375 units of electricity thereby, saving more than Rs. nine lakhs annually. SuKam has been given the overall responsibility of designing, supplying, testing and commissioning of the solar power plant.Entire system consists of one 15 KWp and two 30 KWp Grid-tie inverters, and 300 solar PV panels of 250 watt each. The project took one month to complete and cost approximately Rs 60 lakh.

“We are delighted to install the Solar Power Plant in Chandigarh and look forward to making further contributions with our expertise in Solar, across the country.” He further added “This solar plant will enable them to meet part of the energy requirement and save huge amount of money on electricitybills”. -Mr. Devinder Kumar, CEO-Solar Projects, Su-Kam Su-Kam has already made rapid strides in reducing the dependence of consumers on electricity supply from the grid in Punjab. Su-Kam has installed a 1 Mega Wattsolar power plant forPunjab Engineering College in Chandigarh; which is the largest solar plant to be installed at an educational institute. The company has also installed a 50 KW solar power plant at Shivalik Public school in Patiala, which has brought down the dependence of the school on electricity from the grid to zero. Su-Kam is one of the top players in residential solar market with 20.6% market share and pan India presence. A continuing focus on quality and strict adherence to international standards has enabled Su-Kam to export its products to various overseas markets across Asia, Africa, the Middle East and the Pacific region.

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RESEARCH ANALYSIS

Next-Generation Batteries Beyond Li-ion Will Be Worth $10 Billion in 2030 Lithium-ion (Li-ion) batteries have led to revolutions in consumer electronics, electric vehicles, and grid storage, but still face limitations in cost and performance. While incremental improvements will extend their dominance into the next decade, a new generation of battery technologies are rising and will be worth $10 billion by 2030, according to Lux Research. “Next-generation battery developers are pursuing technology improvements and mass-production scale-up, though incumbent Li-ion is still improving quickly, thanks to massive investments, The Next-Generation Battery Roadmap: Quantifying How Solid-State, Lithium-Sulfur, and Other Batteries Will Emerge After 2020. Companies with an important stake in the battery market should invest in next-generation batteries as well as advances in Li-ion, to make sure they maintain a strong position as the technology mix shifts.”

- Cosmin Laslau,

Lux Research Senior Analyst & lead author of the report titled

ux Research analysts created an adoption roadmap for next-generation batteries, quantifying the market for each technology, and ranking emerging battery developers on the proprietary Lux Innovation Grid. Among their findings: Transportation market is hotbed for new battery tech. Nextgeneration batteries will see explosive growth after 2030: The report, titled “The will jump from $6 Next-Generation Battery Lithium-sulfur billion in 2030 to $29 billion in 2035, while solid-state batteries Roadmap: Quantifying will climb from $3 billion to $42 How Solid-State, billion over the same period. Lithium-Sulfur, and Other Solid-state will win in electronics. Solid-state batteries will earn Batteries Will Emerge $12 billion from electronics in 2035, enjoying a 39% market After 2020,” is part of share. Lithium-sulfur, meanwhile, the Lux Research Energy will see no significant adoption in electronics, due to energy Storage Intelligence density issues, ceding ground to advanced Li-ion.Lux Innovation service. Grid calls out leaders. Imprint Energy, which makes thin-film batteries for electronics, and rapid materials developer Ilika are the Dominant solid-state companies on the Lux Innovation Grid. The lithium-sulfur landscape is sparser, with Oxis Energy and Boulder Ionics earning positive takes from Lux.

April 6

8 , 2016

Korea

Korea’s No.1, Asia’s Top 3, World’s Top 10 photovoltaic exhibition The sole exhibition co-organized by the Korea 4 major associations in renewable energy field The most important exhibition in Asia market Global forum, Korea’s largest Renewables Energy Conference concurrently held GSA Members Joined Global Solar Alliance as a representative of Korea

green1@exco.co.kr

www.energyexpo.co.kr

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RESEARCH ANALYSIS

HHV Solar Technologies Ltd Inaugurates State-Of-TheArt 100 MW PV Module Manufacturing Facility At Dabaspet, Bangalore HHV SOLAR TECHNOLOGIES LTD (HHV ST), a wholly owned subsidiary of SWELECT Energy Systems Ltd, is a leading solar module manufacturer in India and a well-known supplier in the international photovoltaic markets.

V ST’s product portfolio comprises of high-efficiency high-quality Solar PV modules in a wide range that suit different end user applications – from small & medium commercial and industrial roof top systems to MW-scale Solar Energy Parks. HHV ST Solar modules are installed in over Hundred plus Mega Watt capacity of Solar Parks and several hundreds of Roof Top installations in India and Abroad including the 80 KW Solar Power Installations on Indian Parliament House, over 3000 water pump installations and 16 MW Modules for DCR Project under JNNSM Phase II, Batch I. HHV ST recently completed the full commissioning of their State-of-the Art 100 MW crystalline solar photovoltaic (PV) manufacturing line with advanced Process Automation and German Machinery.

HHV St Becomes One Of The Top Quality Solar Module Facilities In India With Best In Class Quality Control Measures. The Highlights Of The New Facility Are: »»

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The 100MW production facility is spread across 40,000 sq. ft. area having class 100,000 clean room environment. The facility has been equipped with maximum automation and in-line quality control process using multi-stage compliance measures. High precision machinery from

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leading Global suppliers for faster production of defect free – fully tested PV Modules. All PV modules pass through 100% inline multi-stage EL (Electro Luminescence) Tests to ensure very high quality modules supplied to the end customers. Products comply with

TMEIC Crosses 1GW Of Orders In India TMEIC Industrial Systems India Pvt. Ltd., a Group Company of Toshiba Mitsubishi – Electric Industrial Systems Corp.

December 2015

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international standards – IEC, UL, CEC and MCS-BRE UK certified by TUV Rheinland, UL, Intertek ETL, BRE Global, CEC etc. HHV ST is an IMS certified company with ISO 9001:2008, ISO 14001:2004 + Cor 1:2009 and BS OHSAS 18001:2007

MEIC is the fastest growing Grid connected Central Photovoltaic (PV) Inverter manufacturer in India. With already shipped orders of around 460MW in a span of last 16 months and booked orders for more than 1GW till date, TMEIC is now placed among the top 3 inverter suppliers in India’s Utility scale PV market. TMEIC’s state-of-the-art manufacturing plant in Bangalore, India has production capacity of 1GW annually. This factory not only caters to the domestic market in India, but also exports its products to meet the requirements of the overseas markets.TMEIC partners with almost all the major EPC players & project developers for their PV projects in India and abroad.

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RESEARCH ANALYSIS

Jolywood And Daikin Signed Stratergic Cooperation Agreement To Jointly Upgrade Solar Backsheet

11th China SoG Silicon and PV Power Conference (CSPV) was held from 26th to 28th , Nov,2015 in Hangzhou, Zhejiang Province. It is the most prominent solar energy conference in China, offering and excellent opportunity for latest photovoltaic information and technology exchange.

he attendees of the conference represent the entrire PV value chain. This includes the PV production equipments and materals suppliers , manufacturers of PV solar cells, modules and system components , PV system suppliers , projects developers , research institutes , finance and consultancies.The conference was organized by China Renewable Energy Society and its main subjects were: 1) high-efficiency crystalline silicon cells & modules manufacturing technology;2) PV auxiliary material technology & application;3) PV systems and applications;4)PV testing technology and industry standards. On the special forum co-organzied by Jolywood, VP of Jolywood Mr Xia shared his report “Backsheet technology development roadmap study”, Jolywood’s backsheet is worldwide

Despite Record PV Inverter Shipments in 2015, Lower Prices Limit Global Revenue Growth, IHS Says Year-over-year global photovoltaic (PV) inverter shipments increased 35 percent in the first nine months of this year; however, prices fell 26 percent to $0.12 per watt.

lthough global prices are declining, 20 gigawatts (GW) of inverters will ship in the fourth quarter (Q4) of 2015, leading to 4 percent yearover-year revenue growth reaching $6.9 billion. Increased competition in China, the United States and other key growth markets — combined with stagnating markets in Japan and Germany — have exacerbated falling prices, according to IHS Inc., the leading global source of critical information and insight.

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accepeted by its fluorine coating tech & performance as well as price advantage. There has been more than 12GW solar modules with Jolywood’s backsheet installed worldwide. The report also reviewed “Jolywood and Daikin solar plant visiting program from July to August in 2015”. The very two company altogether visited and analazed more than 1GW solar plant in western China. It proved that Jolywood & Daikin joint fluorine coating tech’s stablity and reliablity in harsh conditions. The report has made a clear direction for module makers , EPC contractoers and owners regarding solar backsheet’s trend and tech requirments.During the forum, Jolywood and Daikin singed Stratergic Cooperation Agreement, the two sides will strenghern their current cooperation in all aspects to upgrade the technology of backsheet.

“The shift to utility-scale installations is changing the product mix and causing prices to fall. For example in the United States lower-priced large central inverters will account for an increasing share of inverter shipments over the next 15 months. The latest IHS PV Inverter Customer Insight Survey reveals a growing acceptance of Chinese inverters in recent years. In fact more than half (58 percent) of all PV inverter buyers noted that Chinese inverters offered acceptable levels of quality, compared to just 30 percent in 2013. The growing acceptance of lowercost Chinese suppliers is contributing to the price pressure on the industry. Leading Western suppliers offer inverters that meet the latest grid codes and offer a high quality after-sales service. Although Chinese inverters are gaining acceptance, in terms of quality, Chinese companies must still offer competitive pricing to be considered by customers in new markets. Inverter buyers are concerned that Chinese inverters suppliers offer inadequate technical support and after-sales service. As more customers realize Chinese inverters offer acceptable levels of quality, it is only a matter of time before they are selected as preferred suppliers by some of the leading solar lease suppliers and companies offering EPC services in the United States; however, while Chinese inverters are gaining acceptance, SMA Solar Technology was still the top brand globally for the fourth consecutive year.”

- Cormac Gilligan

Solar Supply Chain Senior Analyst for IHS Technology EQ

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INDIA

Govt. bats for revising RPO target to 10% by 2022 The government is looking at increasing renewable purchase obligation (RPO) targets from 3 per cent to 10 per cent so as to meet the one lakh MW solar capacity by 2022.Under the RPO, distribution companies (discoms) are mandated to purchase a certain amount of their power from renewable sources.The current tariff policy mentions separate percentages of RPO for solar and non-solar sources.

“If we have to achieve the target of 1,00,000 MW of green power, we will have to increase the RPO targets to 8-10 per cent by 2022”, -Tarun Kapoor, Joint Secretary, MNRE

he revision in the current RPO targets has to take place in the new tariff policy, he said.The power ministry was requested to look into it after which it prepared a proposal that is pending Cabinet approval. “Some state electricity regulators have currently fixed an RPO above 1 per cent, but some have not even reached that level as yet. Regulators, if they wish to, can increase the RPO target without even waiting for the tariff policy.But if they wait for it then it may come in the next

month”, Kapoor said.He further said in the national plan for climate change, India has talked about 15 per cent target of renewable energy by 2020. “This was said in 2010 that in 10 years we would have 15 per cent of energy from all renewable sources. Right now some states have given RPO target (solar, non-solar combine) of 5-7 per cent, so that they will have to increase to 15 per cent by 2022”, Kapoor said.It is yet to be ascertained how much of this will be contributed by solar.“For other sectors there is no separate percentage prescribed

as for solar. If we try to match with 1,00,000 MW then it has to be 8-10 per cent. This also depends on how the conventional sector progresses.“If our conventional production is less, then the percentage of solar could be 10 per cent or else to achieve the target it has to be at least 8 per cent”, he added.The recently announced UDAY package that aims to alleviate the discoms’ debts also includes a rule that they will now have to comply with the RPO, outstanding since April 2012, within a period to be decided in consultation with the power ministry. Source: PTI

UDAY gets instant ‘pan-India consensus’, says Piyush Goyal

nion Power Minister Piyush Goyal on Friday claimed “a pan-India consensus” on the scheme unveiled by the Centre to rescue almost bankrupt state electricity retailers.”Almost all the states have heartily welcomed the new initiative when it was discussed at the conference of Power, Renewable Energy & Mines Ministers of State and Union Territories being held in the city,” he said. “The new scheme UDAY has been very well received. Today we shared the scheme in greater details with power ministers from all the states and I am delighted to report to you and to the people that almost all the states have heartily welcomed this new initiative. There is a pan India consensus 40

December 2015

on this proposal,” the minister told reporters here. He said if all the discoms start making profit and working efficiently, then the entire country can achieve 24×7 power to all our people at affordable price.The minister said the Centre would sit down with all the states in coming months to help them prepare plans for the future.”In a bottom of approach where the Centre will not dictate any terms to the state but voluntarily states should prepare their own plans how they will improve the working of their power companies, how they will serve their people better with affordable power,” Goyal said. He said India had surplus power and coal and if the health of discoms improve through UDAY, it will increase the ability of the companies to procure more power, it will bring

down the cost of power and provide more service to the people.Earlier, inaugurating the inaugurating the conference of Power, Renewable Energy & Mines Ministers of State and Union Territories here, the minister said “a clear roadmap has been drawn to solve the present crisis of discoms.” “It will help in a big way in wiping out the losses of discoms by 2019,,” he added. The government had said yesterday that state governments, which own the discoms, can take over 75% of their debt as of September 30 and pay back lenders by selling bonds. For the remaining 25%, discoms will issue bonds.The central government will ease rules to allow states participating in the scheme to borrow more and help with the additional burden. Source: PTI

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}

INDIA

Azure Power commissions first private solar project in the country to power Indo-Pak Border

The government can save crores of rupees spent every year on power and diesel used in generators with this free energy.The project was built under extremely harsh environment. The remote location has several sand dunes with constant shifting contours, restricted transportation and tele-connectivity. Considering the complexity of the project, Azure Power delivered the project in a commendable timeframe of two months. “With the commissioning of this plant we have once again demonstrated our strong project development, engineering and execution capabilities. This is the first such project in the country to supply power to border outposts through the solar route. This is an excellent example of the many exceptional uses that solar power can be put to. Our sincere gratitude to the government of Rajasthan and Solar Energy Corporation of India, for all the cooperation and support extended”

Azure Power, leading independent power producer in the Indian solar power sector, has commissioned 5MW capacity solar plant in Sarkaritala, Jaisalmer, Rajasthan to electrify the border posts around the region.

zure Power signed a Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI), the designated agency for implementation of Solar PV Projects for the Solarization of Indo-Pak Borders, to supply power for 25 years. With the commissioning of this project, Azure Power becomes the first private solar power producer in the country to supply power to border outposts through the solar route under The Jawaharlal Nehru National Solar Mission policy.

-Inderpreet Wadhwa, Founder and CEO, Azure Power Azure Power has been working on various projects with the Rajasthan Government. Recently, Azure commissioned a 100 MW Capacity Plant in Jodhpur, Rajasthan, the largest solar power project under the National Solar Mission. With the latest project being commissioned in Jaisalmer, Azure Power becomes the single largest owner and operator of projects under the NSM with a cumulative operational capacity of 147 MW.

Azure Power Signs 150 MW Project in Punjab Azure Power, leading independent power producer in the solar power sector, has announced that it has signed 150 MW of solar power implementation agreement with Punjab Energy Development Agency’s (PEDA) under its Solar Policy Phase III.

his is the fifth consecutive win in Punjab, making Azure Power the largest owner and operator in the state with a total of 225 MW capacity under various stages.A total of 1650 MW of bids were submitted by 18 companies for the total tender capacity of 500 MW.2 The power will be procured by the Punjab Power Corporation, which has been rated A+ by ICRA.3

“We have consistently demonstrated 100% win rate in the Punjab state auctions and are the longest tenured private solar power operator in the country. We have won 150MW at INR 5.63/ KWh while the lowest bid was INR 5.09/kWh.””We are also delighted to make this contribution towards realization of our Honorable Prime Minister’s commitment towards clean and green energy, through solar power generation,” -Inderpreet Wadhwa, Founder and CEO, Azure Power

In June this year, Azure Power commissioned the largest solar power project under the National Solar Mission, a 100 MW plant in Rajasthan.

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December 2015

}

COP 21

RESEARCH ANALYSIS

The pain of Paris is yet to heal. So, I speak in admiration for your resilience and resolve. And, I salute the world for standing, in full strength, with France and Paris.Over the next few days, we will decide the fate of this planet.

42Â

December 2015

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COP 21

STATEMENT BY PRIME MINISTER AT COP 21 PLENARY PARIS, 30 NOVEMBER 2015

e do so when the consequences of the industrial age powered by fossil fuel are evident, especially on the lives of the poor.The prosperous still have a strong carbon footprint. And, the world’s billions at the bottom of the development ladder are seeking space to grow. So, the choices are not easy. But, we have awareness and technology. We need now national will and a genuine global partnership. Democratic India must grow rapidly to meet the aspirations of 1.25 billion people, 300 million of whom are without access to energy.We are determined to do so, guided by our ancient belief that people and planet are inseparable; that human well being and Nature are indivisible.So, we have set ambitious targets. By 2030, we will reduce emissions intensity per unit GDP by 33-35% per cent of 2005 levels, and 40 per cent of our installed capacity will be from non- fossil fuels.

We will achieve it by expanding renewable energy – for, example, by adding 175 Gigawatts of renewable generation by 2022. We will enlarge our forest cover to absorb at least 2.5 billion tonnes worth of carbon dioxide.We are reducing dependence on fossil fuel through levies and reduction in subsidies; switching sources of fuel where possible; and, transforming cities and public transportation.We hope advanced nations will assume ambitious targets and pursue them sincerely. It is not just a question of historical responsibility. They also have the most room to make the cuts and make the strongest impact.

And

, climate justice demands that, with the little carbon space we still have, developing countries should have enough scope to grow.This also means aggressive mitigation action by developed countries before 2020, including ratification of 2nd Commitment period of Kyoto Protocol, removing conditions and revisiting targets.The principles of equity and common but differentiated responsibilities must remain the bedrock of our collective enterprise across all areas – mitigation, adaptation and means for implementation. Anything else would be morally wrong; and disparities.

Equity

means that national commitments must be consistent with the carbon space nations occupy.We also need a strong

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Agreement on Adaptation and Loss and Damage.Developed countries must fulfill their responsibility to make clean energy available, affordable and accessible to all in the developing world. This is in our collective interest.So, we look to the developed countries to mobilize 100 billion US Dollars annually by 2020 for mitigation and adaptation in the developing countries. They must fulfill their commitment in a credible, transparent and meaningful manner.

Energy

is a basic human need. So, we need an ambitious technology initiative, driven by a public purpose, not just market incentives. For this, we need to scale up Green Climate Fund that will improve access to technology and intellectual property.We still need conventional

energy. We should make it clean, not impose an end to its use. And, there should be no place for unilateral steps that become economic barriers for others.We welcome stocktaking that is transparent, covers both support and commitments, and based on differentiation.

Ultimately

, for success, m o d e r at i n g our lifestyle is necessary, and possible, for a low carbon future.Excellencies,The presence of 196 countries tells us that we have a chance to unite behind a common purpose.We will succeed if we have the wisdom and courage to craft a genuinely collective partnership that balances responsibilities and capabilities with aspirations and needs.I am confident that we will.

December 2015

middle east

“The strategy that we are launching today will shape the energy sector in Dubai over the next three decades. It aims to provide 75% of the emirate s energy through clean energy sources by 2050, reflecting our commitment to establish a sustainable model in energy conservation which can be exported to the whole world, and support economic growth without damaging the environment and natural resources. Our goal is to become the city with the least carbon footprint in the world by 2050.” Sheikh Mohammed bin Rashid Al Maktoum, GBE, also known as Sheikh Mohammed, is the Vice President and Prime Minister of the United Arab Emirates, and Emir of Dubai.

December 2015

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middle east

HH Mohammed bin Rashid launches AED 50 bn Dubai Clean Energy Strategy To produce 75% of its energy from clean sources by 2050 His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, today launched Dubai Clean Energy Strategy 2050, which aims to make Dubai a global centre of clean energy and green economy.His Highness said that the UAE, through its diverse strategies and investments in clean and renewable energy, is now leading global efforts in this area despite having the second-largest oil reserves in the world.

“Every investment in the development of clean energy sources is at the same time an investment to protect the environment for future generations. It is an effort to build our sustainable economic sectors which do not depend on non-renewable energy resources and are unaffected by volatile energy prices. Through this strategy, which is based on innovation, research and development, we aim to explore the future of the energy sector to unveil initiatives that will make use of the scientific and technological developments in this sector and take the lead in their development and application.”

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is Highness asserted that the UAE is keen to become a global reference platform in sustainability practices by transforming concepts into real applications. His Highness called on international companies and R&D centres to make Dubai a base for testing and applying the next generation of clean energy technologies to create a global model that can benefit the world. His Highness stated this during the inauguration of the second phase of the Mohammed Bin Rashid Al Maktoum Solar Park at Al Marmum area in Dubai. The solar park is considered as the largest of its kind in the world, which will produce 5,000 megawatts in a single location by 2030, and involves total investments worth AED 50 billion.His Highness also inaugurated the construction works of DEWA Innovation Centre, which includes under its umbrella a group of research and development laboratories in the field of clean energy with a total investment of AED 500 million. During the inauguration, His Highness Sheikh Mohammed bin Rashid Al Maktoum was accompanied by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Chairman of the Dubai Technology and Media Free Zone Authority, H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman of Emirates Group, Mohammed bin Abdullah Al Gargawi, Minister for Cabinet Affairs, Dr. Sultan bin Ahmed Sultan Al Jaber, Minister of State, Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority (DEWA), Khalifa Saeed Sulaiman, Director-General of the Dubai Protocol Department, and acrowd of social and econimoc personalities and senior officials.

December 2015

middle east

strategy with ambitious goals and clear pillars Dubai Clean Energy Strategy aims to provide 7% of Dubai s energy from clean energy sources by 2020. It will increase this target to 25% by 2030 and 75% by 2050.The strategy consists of five main pillars: Infrastructure, legislation, funding, building capacities and skills, environment friendly energy mix.Infrastructure: The infrastructure pillar includes initiatives such as Mohammed Bin Rashid Al Maktoum Solar Park, which is the largest generator of solar energy in the world from a single location with a capacity to produce 5,000 MW by 2030, and total investment of AED 50 billion. The first phase of this project began operations in 2013. The second phase will begin operations in April 2017 with a capacity of 800 MW , the third phase will begin operations in 2020 with a capacity of 1000 MW, while the fourth phase will begin operations in 2030 with a capacity of 5000 MW, which is 25% of the total energy production in the emirate of Dubai as estimated. The infrastructure pillar also includes a comprehensive innovation centre which will be built using 3D printing technology. The innovation centre features a group of research and development centres specialised in the next generation of clean energy technologies such as solar energy technology test centre, drones research centre, 3D printing technology, and solar energy based desalination tests centre. AED 500 million will be invested in research and development in areas such as integration of smart grids, energy efficiency and electricity generation from solar energy. The infrastructure pillar also includes the establishment of a new free zone under the name Dubai Green Zone dedicated to attracting research and development centres and emerging companies in the field of clean energy. Legislation The second pillar focuses on the establishment of a legislative structure supporting clean energy policies in two phases. The first phase will be implemented through Shams Dubai initiative which aims to encourage building owners to place solar panels on the roofs and link them to the main network of Dubai Electricity and Water Authority. The second phase includes coordination with Dubai Municipality to issue a set of decisions on the integration of consumption rationalization technology and energy production and the requirement to install solar panels on the roofs of all building in Dubai by 2030. Funding through the Dubai Green Fund The third pillar is related to financing solutions for investment in research and development on clean energy and its application. This pillar includes the establishment of Dubai Green Fund worth of AED 100 billion which will contribute through its financial resources easy loans for investors in the clean energy sector in the emirate at reduced interest rates. Dubai Electricity and Water Authority will ensure the demand management and economic value of the project. Building capacities and skills The fourth pillar aims to build human resources capabilities through global training programmes in the field of clean energy in cooperation with international organisations and institutes such as International Renewable Energy Agency (IRENA) as well as international companies and R&D centres. The pillar will contribute to the creation of a sustainable model for research and development in the area of clean energy based on specialised human capabilities in this field.

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December 2015

Environment friendly energy mix The fifth pillar is focused on creating an environment friendly energy mix comprising

25% 07%

By 2030

Gas

61%

Solar Energy

07% Nuclear Power Coal

By 2050

75%

The mix will gradually increase the employment of clean energy sources to 75% by 2050, making Dubai the city with the least carbon footprint city in the world.

This pillar also activates energy generation mechanisms through waste by employing state-of-theart technologies in this area that will contribute to turn 80% of the emirate waste to energy by 2030.

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ASIA PACIFIC

Trina Solar Delivered Over 15GW of Solar Modules Worldwide Trina Solar Limited, a global leader in photovoltaic (“PV”) modules, solutions, and services, recently announced that its accumulative shipments since 2005 have exceeded 15 GW as of the end of Q3, 2015, marking a significant milestone for the Company.

rina Solar’s efforts in expanding its presence in key markets across the globe, leveraging on its innovative high-quality solar products, strong sales network and brand recognition, have enabled the Company to capture numerous opportunities as solar is becoming one of the world’s major sources of electricity. With the support of its worldwide customers, the Company has increased its market share from approximately 1% in 2005 to more than 10% anticipated in 2015.

Mr. Jifan said “We are extremely pleased to have reached the 15GW milestone in 2015 alongside our significantly increased global market presence. In addition to expanding our total shipments, we continued to exercise strong financial discipline in managing our balance sheet by carrying out a relatively asset light strategy when making capacity investments, and at the same time continued to improve our operating margin. Trina Solar has proved its position in the solar industry as a leading module manufacturer, and at the same time a world-class downstream player. “

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We are very pleased to say that the modules that we shipped in the past ten years have been installed in various projects worldwide, which could reduce estimated 18 million tons of carbon dioxide emissions a year with each module fully functional, equivalent to planting approximately 13.3 billion square meters of trees. Looking ahead, we will continue to contribute to reduce adverse climate change worldwide by innovating and promoting the PV industry. I believe our commitment to providing affordable, clean and renewable energy to all people around the globe will allow us to achieve our mission of benefitting mankind with solar energy.” - Mr. Jifan Gao, Chairman and CEO of Trina Solar

December 2015

policy & Regulation

UDAY (Ujwal DISCOM Assurance Yojana)

For Financial Turnaround Of Power Distribution Companies The Union Cabinet chaired by the Hon’ble Prime Minister Shri Narendra Modi, has recently given its approval to a new scheme moved by the Ministry of Power – Ujwal DISCOM Assurance Yojna or UDAY. UDAY provides for the financial turnaround and revival of Power Distribution companies (DISCOMs), and importantly also ensures a sustainable permanent solution to the problem.

DAY is a path breaking reform for realizing the Hon’ble Prime Minister’s vision of affordable and accessible 24×7 Power for All. It is another decisive step furthering the landmark strides made in the Power sector over the past one and a half years, with the sector witnessing a series of historic improvements across the entire value chain, from fuel supply (highest coal production growth in over 2 decades), to generation (highest ever capacity addition), transmission (highest ever increase in transmission lines) and consumption (over 2.3 crore LED bulbs distributed). The weakest link in the value chain is distribution, wherein DISCOMs in the country have accumulated losses of approximately Rs. 3.8 lakh crore and outstanding debt of approximately Rs. 4.3 lakh crore (as on March, 2015). Financially stressed DISCOMs are not able to supply adequate power at affordable rates, which hampers quality of life and overall economic growth and development. Efforts towards 100% village electrification, 24X7 power supply and clean energy cannot be achieved without performing DISCOMs. Power outages also adversely affect national priorities like “Make in India” and “Digital India”. In addition, default on bank loans by financially stressed DISCOMs has the potential to seriously impact the banking sector and the economy at large.

December 2015

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policy & Regulation

Due to legacy issues, DISCOMs are trapped in a vicious cycle with operational losses being funded by debt. Outstanding debt of DISCOMs has increased from about Rs. 2.4 lakh crore in 2011-12 to about Rs. 4.3 lakh crore in 2014-15, with interest rates upto 14-15%. UDAY assures the rise of vibrant and efficient DISCOMs through a permanent resolution of past as well as potential future issues of the sector. It empowers DISCOMs with the opportunity to break even in the next 2-3 years. This is through four initiatives (i) Improving operational efficiencies of DISCOMs; (ii) Reduction of cost of power; (iii) Reduction in interest cost of DISCOMs; (iv) Enforcing financial discipline on DISCOMs through alignment with State finances. Operational efficiency improvements like compulsory smart metering, upgradation of transformers, meters etc., energy efficiency measures like efficient LED bulbs, agricultural pumps, fans & air-conditioners etc. will reduce the average AT&C loss from around 22% to 15% and eliminate the gap between Average Revenue Realized (ARR) & Average Cost of Supply (ACS) by 2018-19. Reduction in cost of power would be achieved through measures such as increased supply of cheaper domestic coal, coal linkage rationalization, liberal coal swaps from inefficient to efficient plants, coal price rationalization based on GCV (Gross Calorific Value), supply of washed and crushed coal, and faster completion of transmission lines. NTPC alone is expected to save Rs. 0.35 / unit through higher supply of domestic coal and rationalization / swapping of coal which will be passed on to DISCOMs / consumers.

Financial liabilities of DISCOMs are the contingent liabilities of the respective States and need to be recognized as such. Debt of DISCOMs is de facto borrowing of States which is not counted in de jure borrowing. However, credit rating agencies and multilateral agencies are conscious of this de facto debt in their appraisals. In line with the above and similar observations of Fourteenth Finance Commission, States shall take over 75% of DISCOM debt as on 30 September 2015 over two years – 50% of DISCOM debt shall be taken over in 2015-16 and 25% in 2016-17. This will reduce the interest cost on the debt taken over by the States to around 8-9%, from as high as 14-15%; thus improving overall efficiency. Further provisions for spreading the financial burden on States over three years, will give States flexibility in managing the interest payment on the debt taken over, within their available fiscal space in the initial few years. A permanent resolution to the problem of DISCOM losses is achieved by States taking over and funding at least 50% of the future losses (if any) of DISCOMs in a graded manner.

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UDAY is a shining example of the utilization of the best principles of cooperative and competitive federalism and has been evolved through discussions at the highest levels with multiple States. Adopting UDAY is optional for States, but provides the fastest, most efficient and financially most feasible way for providing 24X7 Power for All. It will be operationalized through a tri-partite agreement amongst the Ministry of Power, State Government and the DISCOM. UDAY accelerates the process of reform across the entire power sector and will ensure that power is accessible, affordable and available for all. UDAY truly heralds the uday (rise), of a ‘Power’ful India.

Salient Features of UDAY •

•

States shall take over 75% of DISCOM debt as on 30 September 2015 over two years – 50% of DISCOM debt shall be taken over in 2015-16 and 25% in 2016-17. Government of India will not include the debt taken over by the States as per the above scheme in the calculation of fiscal deficit of respective States in the financial years 2015-16 and 2016-17. States will issue non-SLR including SDL bonds in the market or directly to the

•

respective banks / Financial Institutions (FIs) holding the DISCOM debt to the appropriate extent. DISCOM debt not taken over by the State shall be converted by the Banks / FIs into loans or bonds with interest rate not more than the bank’s base rate plus 0.1%. Alternately, this debt may be fully or partly issued by the DISCOM as State guaranteed DISCOM bonds at the prevailing market rates which shall be equal to or less than bank base rate plus 0.1%.

States shall take over the future losses of DISCOMs in a graded manner and shall fund them as follows:

•

State DISCOMs will comply with the Renewable Purchase Obligation (RPO) outstanding since 1st April, 2012, within a period to be decided in consultation with Ministry of Power. States accepting UDAY and performing as per operational milestones will be given additional / priority funding through Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY),Integrated Power Development Scheme (IPDS), Power Sector Development Fund (PSDF) or other such schemes of Ministry of Power and Ministry of New

•

and Renewable Energy. Such States shall also be supported with additional coal at notified prices and, in case of availability through higher capacity utilization, low cost power from NTPC and other Central Public Sector Undertakings (CPSUs). States not meeting operational milestones will be liable to forfeit their claim on IPDS and DDUGJY grants. UDAY is optional for all States. However, States are encouraged to take the benefit at the earliest as benefits are dependent on the performance.

December 2015

research & Ananlysis

Mercom Capital Group Forecasts 3.6 GW of Solar Installations in India for 2016 Mercom Capital Group, a global clean energy communications and research firm, recently released its quarterly update on the Indian solar market.Mercom forecasts about 2,150 MW in solar installations for the 2015 calendar year and expects installations in 2016 to reach approximately 3,645 MW, a significant year-over-year growth.

“There have been a number of important energy related policy announcements recently, with increased activity on the ground with tenders and auctions beginning to occur more frequently” Raj Prabhu CEO, MERCOM CAPITAL GROUP

A 50

December 2015

fter several delays, The National Thermal Power Corporation (NTPC) has begun calling for tenders under the 3,000 MW Phase II Batch 2 JNNSM program. The first auction under this batch closed with SunEdison placing the winning bid of Rs.4.63 (~$0.071)/kWh for a 500 MW solar project in Andhra Pradesh. This bid is the lowest in India to date.

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research & Ananlysis

T “Bids are falling faster than component costs and there is a concern that this is a race to the bottom for solar bids in India,” commented Prabhu. “The pent up demand due to auction delays is leading to aggressive bidding in an effort to capture market share with an assumption that component costs will continue to fall no matter what. This is a risky strategy considering the global market trends over the next 12 months.”

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here are about 5,500 MW worth of projects due to be auctioned off over the next several months between the NTPC and the Solar Energy Corporation of India (SECI). In one of the more positive developments over the last few months, the Union Cabinet approved a new policy program, “UDAY” (Ujwal DISCOM Assurance Yojana), focused on the financial turnaround of power distribution companies. The government’s proposal would allow state governments to take over 75 percent of DISCOM debt with a reduced interest rate for the remaining 25 percent. This policy would work to help the distribution companies achieve solvency and improve creditworthiness, addressing one of the biggest obstacles in the Indian power sector over the past decades. Interest rates for solar projects are beginning to fall after the RBI rate cuts with rates in the 11-12 percent range compared to 13-14 percent a year ago. Offtaker risk due to the weak financial health of utilities is adding at least a percentage point in interest rates making it more expensive to develop solar projects in some states. Mercom’s latest updates indicate that 21 states have so far agreed to set up a total of 27 solar parks with a combined capacity of 18,418 MW. These projects are part of MNRE’s plan to set up multiple solar parks with individual capacities of 500 MW or greater. Developers are concerned that solar park fees are much more expensive than originally envisioned and are confident that they can execute at much lower costs if the government sticks to facilitating land. Uttarakand state’s solar auction held in October resulted in the selection of 181 MW of PV projects with the lowest bid coming in at Rs.5.57 (~$0.086)/kWh.Some states are facing up to three month payment delays, according to developers and banks. The best states for timely payments currently are Gujarat, Andhra Pradesh, Punjab and Madhya Pradesh.“After three years of stagnantion, the Indian solar market is set to experience strong growth over the next several years,” further commented Prabhu.

December 2015

QUARTER RESULTS

JA Solar

JASO is well positioned to benefit from the demand growth in AsiaPacific given its established presence and increased shipments to the 2 largest PV markets – Japan and China - Saumya Bansal Gupta

Third Quarter 2015 Highlights » »

Total shipments were 1,126.8 MW, an increase of 43.5% y/y and 42.5% sequentially Shipments of modules and module tolling were 1,073.8 MW, an increase of 54.8% y/y and 49.7% sequentially Shipments of cells and cell tolling were 53.0 MW, a decrease of 42.3% y/y and 27.8% sequentially Net revenue was RMB 3.8 billion ($601.0 million), an increase of 26.4% y/y and 41.0% sequentially Gross margin was 17.7%, an increase of 270 basis points y/y and 130 basis points sequentially Operating profit was RMB 299.1 million ($47.1 million), compared to RMB 189.6 million ($29.8 million) in the third quarter of 2014, and RMB 156.1 million ($24.6 million) in the second quarter of 2015 Net income was RMB 258.6 million ($40.7 million), compared to RMB 155.4 million ($24.5 million) in the third quarter of 2014, and RMB 136.0 million ($21.4 million) in the second quarter of 2015 Earnings per diluted ADS were RMB 4.42 ($0.70), compared to RMB 2.55 ($0.40) in the third quarter of 2014, and RMB 2.26 ($0.36) in the second quarter of 2015 Cash and cash equivalents were RMB 1.8 billion ($289.4 million), an increase of RMB 90.6 million ($14.3 million) during the quarter Non-GAAP earnings1 per diluted ADS were RMB 4.35 ($0.68), compared to RMB 1.30 ($0.20) in the third quarter of 2014, and RMB 1.67 ($0.26) in the second quarter of 2015

December 2015

“We are pleased to report strong financial results for the third quarter of 2015 as total shipments of 1.1 GW exceeded the high end of our previous expectations. Strong demand in China continued to drive shipment growth, as China represented 53% of our total shipments during the quarter. We also made great progress on our new cell manufacturing facility in Malaysia during the quarter, and are very excited to have announced the facility’s launch in late October. “Due to relatively strong demand in the second half, we have allocated additional shipments from our downstream projects to meet customer demand. As a result, we now expect shipments to our own downstream projects to be under 100 MW in 2015.“As we continue into the final quarter of 2015, we expect demand to remain strong in our key markets, especially China. Although we expect ASPs to remain stable, rising wafer prices may pressure margins slightly in the remainder of the year. We also continue to focus on capturing greater market share in the Americas, and are very pleased with the addition of Mr. Robert Petrina to our management team as we enhance our presence in the U.S. Growing our market share in the U.S. and several emerging markets remains our focus to drive growth in the remainder of the year and beyond.” - Mr. Baofang Jin, chairman and CEO of JA Solar

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QUARTER RESULTS

Gross profit of RMB 677.5 million ($106.6 million) increased 49.2% y/y and 52.5% sequentially. Gross margin was 17.7%, which compares to 15.0% in the year-ago quarter, and 16.4% in the second quarter of 2015. The y/y and sequential increase in gross margin was primarily due to continued cost reduction efforts combined with lower polysilicon prices and a stable ASP in key markets, including China.

Business Outlook

For the fourth quarter of 2015, the Company expects total cell and module shipments to be in the range of 1.1 GW to 1.2 GW.

Due to strong customer demand, the Company now expects to ship less than 100 MW of modules to its downstream projects in 2015.

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December 2015

53Â

QUARTER RESULTS

Jinko Solar “With increasing demand for our high-quality solar products, we are raising our full year 2015 third party module shipment guidance” - Saumya Bansal Gupta

Highlights »

» »

Total solar module shipments were 1,134.5 MW, which includes 70.6 MW earmarked for use in the Company’s downstream projects. Total solar product shipments to the third parties were 1,107.7 MW, consisting of 1,063.9 MW of solar modules, 10.4 MW of silicon wafers and 33.4 MW of solar cells. This represents an increase of 21.1% from 915.0 MW in the second quarter of 2015 and an increase of 56.4% from 708.2 MW in the third quarter of 2014. As of September 30, 2015, the Company had connected 846 MW worth of solar projects. Total revenues were RMB4.1 billion (US$637.6 million), representing an increase of 26.6% from the second quarter of 2015 and an increase of 58.2% from the third quarter of 2014. Solar power projects generated electricity of 233.7 GWh, a 15.1% increase from the second quarter of 2015 and an increase of 207.6% from the third quarter of 2014. Revenues generated from solar power projects were RMB205.8 million (US$32.4 million), representing an increase of 15.7% from the second quarter of 2015 and an increase of 205.8% from the third quarter of 2014. Gross margin was 21.3%, compared with 20.7% in the second quarter of 2015 and 20.6% in the third quarter of 2014. Income from operations was RMB384.0 million (US$60.4 million), compared with RMB237.0 million in the second quarter of 2015 and RMB239.9 million in the third quarter of 2014. Net income attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders was RMB195.1 million (US$30.7 million), compared with RMB76.4 million in the second quarter of 2015 and RMB280.6 million in the third quarter of 2014. Diluted earnings per American depositary share was RMB3.12 (US$0.48), compared with RMB2.40 in the second quarter of 2015 and RMB8.00 in the third quarter of 2014. Non-GAAP net income attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders in the third quarter of 2015 was RMB253.3 million (US$39.8 million), compared with RMB206.8 million in the second quarter of 2015 and RMB342.0 million in the third quarter of 2014. Non-GAAP basic and diluted earnings per ADS were RMB8.12 (US$1.28) and RMB6.52 (US$1.04), respectively, in the third quarter of 2015.

December 2015

“I am excited to report another strong quarter as our business gained considerable growth momentum. Total revenues during the third quarter reached US$637.6 million, representing an increase of 58.2% over the same period in 2014 and 26.6% sequentially. Module shipments to the third parties reached a record high of 1064 MW, which once again exceeds the high end of our thirdparty shipment guidance. With increasing demand for our highquality solar products, we are raising our full year 2015 third party module shipment guidance from the current 3.4 GW to 3.7 GW, to 3.8 GW to 4.0 GW.” “During the third quarter, electricity output reached 2.4 GWh, up 15.1% sequentially. Electricity revenues generated RMB205.8 million. 121 MW of JinkoSolar projects were connected to the grid during the quarter which brings our total capacity of connected projects to 846 MW. This leaves us right on track to meet our 600-800 MW target for the year. This highermargin downstream business increasingly generates a larger share of our revenues and profits as it develops in size and scale.”

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

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QUARTER RESULTS

Mr. Kangping Chen added “The rapid growth of our downstream business is supported by diversified financing channels including the RMB10 billion strategic line of credit agreement JinkoPower recently signed with the Industrial and Commercial Bank of China, China’s largest commercial bank. This new line of credit will be used to provide us with working capital as well as bridge and project loans for future project development.” “Earlier this year, we made strategic plans for a surge in global demand during the second half year by pre-emptively increasing inventory levels. This strategy is now paying off as it provides us with flexibility to balance between shipments to third-party customers and our downstream business as well as good visibility on next year’s orders.” “This quarter’s performance along with what we expect will be a strong fourth quarter, leave me very confident in our ability to deliver strong full-year results and further grow our sustainable business. With a large and geographically diverse customer base, industry-leading technology, long-lasting relationships with financial institutions and new growth drivers, we are building a foundation for sustainable growth in the years to come and will deliver long-term return to our shareholders”

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Business Outlook

For the fourth quarter of 2015, the Company estimates total solar module shipments to be in the range of 1.4 GW to 1.7 GW, which includes 1.2 GW to 1.4 GW module shipments to third parties. For the full year 2015, the Company updates the guidance of total solar module shipments to 4.2 GW to 4.5 GW which includes 3.8 GW to 4.0 GW module shipments to third parties. The Company expects to grid-connect solar power projects with a total capacity of 600 MW -- 800 MW in 2015.

December 2015

QUARTER RESULTS

Trina Solar

“Maintained strong growth momentum in China and the US, and continued to execute our strategy to increase our presence in new and emerging markets, such as India and Thailand” - Saumya Bansal Gupta Trina Solar Limited, a global leader in photovoltaic modules, solutions, and services, announced its unaudited financial results for the third quarter of 2015.

Third Quarter 2015 Financial and Operating Highlights »

» »

Total module shipments from the Company’s manufacturing facilities were 1,703.2 MW, consisting of 1,353.2 MW of external shipments and 350.0 MW of shipments to the Company’s own downstream PV power projects. Total module shipments increased 38.3% sequentially and 60.1% year-over-year. Total PV power projects connected to the grid were 251.9 MW in the third quarter. Net revenues were $792.6 million, an increase of 9.6% from the second quarter of 2015 and 28.5% from the third quarter of 2014. Gross margin was 17.4%, compared with 20.0% in the second quarter of 2015 and 16.7% in the third quarter of 2014. Operating income was $5.8 million, compared with operating income of $60.7 million from the second quarter of 2015 and $35.6 million from the third quarter of 2014. Non-GAAP operating income, which excluded the impact of the Solyndra settlement provision, was $50.8 million. Net loss attributable to Trina Solar’s ordinary shareholders was $20.0 million, compared with net income attributable to its ordinary shareholders of $40.9 million in the second quarter of 2015, and net income attributable to its ordinary shareholders of $11.5 million in the third quarter of 2014. Loss per fully diluted American Depositary Share (“ADS”: each ADS represents 50 of the Company’s ordinary shares) was $0.24, compared with earnings per fully diluted ADS of $0.42 in the second quarter of 2015 and earnings per fully diluted ADS of $0.14 in the third quarter of 2014. Non-GAAP net income attributable to Trina Solar’s ordinary shareholders, excluding the impact of the Solyndra settlement, was $18.3 million, or $0.21 per diluted ADS. See “About NonGAAP Finance Measures” for details of the reconciliation of GAAP to Non-GAAP measure. The Company raised its guidance for 2015 total PV module shipments to 5.5 GW to 5.6 GW from its original guidance of 4.9 GW to 5.1 GW, of which 4.6 GW to 4.7 GW will be shipped to third party customers. The revised guidance represents an increase of 50.3% to 53.0% from 2014.

December 2015

“We had a solid quarter of operations that came in ahead of our expectations, despite the oneoff negative impact from the settlement of the Solyndra lawsuit and currency fluctuations that we experienced. We shipped a record 1.7 GW of modules, which enables us to achieve a significant milestone of over 15 GW of module shipments cumulatively since our inception. We also connected 251.9 MW of projects to the grid in the third quarter, making our total retained projects reach 610.4 MW. This further strengthened our position as a leading module manufacturer and positioned us well to become a worldclass solar project player. We maintained strong growth momentum in China and the US, with record shipments to both markets and continued to execute our strategy to increase our presence in new and emerging markets, such as India and Thailand. New and emerging markets have become our third largest destination for shipments over the past two quarters. “We remain committed to executing our longterm strategies and successfully diversifying our financing channels to meet our growth initiatives. Our cost advantage was further solidified with the help of our ongoing technological developments, and our gross profit margin was in line with our expectations given declining average selling prices. - Mr. Jifan Gao, Chairman & CEO , Trina Solar

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QUARTER RESULTS

Fourth Quarter & Fiscal Year 2015 Mr. Jifan Gao added ”In R&D, we achieved a number of breakthroughs, including developing the high-efficiency p-type multi-crystalline silicon solar cell of 21.3% efficiency. We also made key advances in silicon-based heterojunction (HJ) cells, where we achieved 22.0% efficiency in the laboratory. In addition, we introduced a ‘Desert Double Glass’ module for hot and dry climates that will be ready for production by the end of the year. “On the manufacturing and operations side, we remain committed to reducing our carbon footprint throughout the lifecycle of our products, which has brought us recognition from reputable global institutions. We have also extended our vision by initiating the establishment of the Energy Management System ISO50001/GBT23331 in an effort to improve the PV industry.

The Company expects to ship between 1, 500 MW to 1, 650 MW of PV modules, of which 1, 350 MW to 1, 450 MW will be shipped to third party customers. The Company’s downstream projects will obtain module supplies from its own manufacturing business or third party suppliers as the situation may require. The Company expects to connect 280 MW to 320 MW of PV projects to the grid in the fourth quarter of 2015.

“Downstream, we far exceeded our 190.0 MW guidance for the quarter by connecting a total of 251.9 MW of projects to the grid, including 38.9 MW of distributed generation (“DG”). We have continued to leverage our superior project execution capabilities and diversified funding channels to position ourselves firmly ahead of the competition. “Looking ahead, the increasing rate of solar adoption globally in both developed and emerging markets will be further augmented by the growing percentage of power generated by solar. With our leading technology, cost advantage, diversified financing channels, and flexible manufacturing model, we are confident that Trina Solar is well-positioned to capture the many opportunities that lie ahead for the foreseeable future.”

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December 2015

QUARTER RESULTS The Company raises its full-year guidance of total PV module shipments to 5.5 GW to 5.6 GW from its original guidance of 4.9 GW to 5.1 GW, of which 4.6 GW to 4.7 GW will be shipped to third party customers. This revised guidance would represent an increase of 50.3% to 53.0% from 2014. The Company reiterates its guidance to connect to the grid between 700 MW and 750 MW of downstream PV power projects across the world, including 30% to 40% of DG projects in China.

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QUARTER RESULTS

China Sunergy

Second Quarter Results 2015

Saumya Bansal Gupta - Saumya-Bansal Gupta

China Sunergy a specialized solar cell and module manufacturer announced its financial results for the Second quarter Financial Highlights 2015.

Second Quarter 2015 Financial Highlights »

Total revenue was US$87.5 million, a decrease of 4.3% from US$91.5 million in the first quarter of 2015. The revenue for self-branded products totaled US$86.6 million and the revenue for the products processed under the OEM arrangement was US$0.9 million. Shipments totaled 184.5MW, a decrease of 3.8% (7.4MW) from 191.9MW in the first quarter of 2015. Module shipments, including module processed under OEM arrangement of 16.8MW, were 148.9MW. Cell shipments were 35.6MW. Average selling price for the Company’s modules, excluding those processed under OEM arrangements, was US$0.58 per watt, unchanged from the previous quarter. Gross profit was US$6.1 million and gross margin was 6.9%, compared with gross profit of US$10.3 million on gross margin of 11.3% in the first quarter of 2015. Net loss attributable to ordinary shareholders was US$10.5 million, compared with US$12.2 million in the first quarter of 2015. Net loss attributable to ordinary shareholders per ADS was US$0.71, compared with US$0.82 in the first quarter of 2015. Cash, cash equivalents and restricted cash totaled US$148.5 million as of June 30, 2015.

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FINANCIAL REVIEW For the second quarter of 2015, total revenue was US$87.5 million, compared with US$91.5 million in the first quarter of 2015. The decrease in revenue was mainly due to lower shipments in OEM arrangement for solar modules. Revenue from the Company’s self-brand modules and cells business totaled US$86.6 million or 99.0% of the total revenue, while revenue generated from the modules processed under OEM arrangement, was US$0.9 million, or 1.0% of total revenue. Since self-branded module and cell businesses are more profitable than OEM arrangements, and the Company managed to obtain more self-branded orders in the second quarter of 2015, the Company actively utilized more capacity for self-branded modules and cells other than OEM arrangements during the period. Total shipments for the second quarter of 2015 were 184.5MW, a decrease of 3.8% from 191.9MW in the previous quarter. The decrease in total shipments was primarily resulted from less OEM arrangement for solar modules. Total module shipments, including modules processed under OEM arrangement of 16.8MW, were 148.9MW for the second quarter of 2015. Total self-branded cell shipments were 35.6MW for the second quarter of 2015. The Company did not arrange OEM orders for solar cells in the second quarter of 2015.

December 2015

QUARTER RESULTS

Sales revenue derived from Asian market accounted for 39.3% of total revenue in the second quarter of 2015 as a result of lower shipments to China, Japan and India markets, while revenue generated from American market dramatically increased and accounted for 34.4% of total revenue. In addition, sales to European market represented 25.2% of total revenue in the quarter ended June 30, 2015. The sequential increase in operating expenses was primarily due to the increase in selling expenses and general and administration expenses. During the second quarter of 2015, selling expenses were US$4.2 million, an increase of US$1.5 million as compared to previous quarter. The increase was mainly due to higher shipping costs occurred at the Companyâ&#x20AC;&#x2122;s Turkey plant as a result of its higher shipments. General and administration expenses were US$8.7 million during the second quarter of 2015, increased by US$7.3 million as compared to US$1.4 million in the first quarter of 2015.

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QUARTER RESULTS

The increase was attributable to the increase in bad debt provision and insurance expenses. The Company reversed approximately US$4.4 million of bad debt provision in the first quarter of 2015 caused by the depreciation of Euro against RMB, which significantly lowered the total amount of general and administration expenses.

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December 2015

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policy & Regulation

Analysis of Model Regulations on Forecasting and Scheduling of Wind and Solar Generating Stations at State level Source : www.reconnectenergy.com

As you may be aware, CERC had notified forecasting and scheduling (F&S) regulation for interstate sale of power a few months back. Now, with the intent of having compatible regulations, the Forum Of Regulators (FOR) has come up with model regulations. It is expected that states will adopt this model regulation or something on these lines in the near future.

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policy & Regulation Executive Summary »»

Forecasting and scheduling will be required by all wind and solar project, regardless of the date of commissioning and capacity

»»

Deviations will be calculated on the basis of total available capacity

»»

Penalty is a fixed amount beyond the error range (10% in case of new projects, 15% in case of old projects)

»»

Settlement will be done through the “Qualified Coordinating Agency” or QCA

Applicability of Regulations All wind and solar generators connected to the State grid are covered: »»

regardless of date of commissioning,

»»

including those connected via pooling stations

»»

selling power within or outside the state.

Detailed Analysis Forum of Regulators have recently come up with model regulation for forecasting and scheduling and deviation settlement mechanism. The primary objective is two fold: a) facilitate large-scale grid integration of solar and wind generating stations, and b) maintaining grid stability and security. Highlights of the model regulation are below: »»

All solar and wind generators connected to State grid have to provide dayahead and week-ahead schedule

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Revisions can be made on a one-and-half hourly basis.

»»

Payment for generation shall be as per actual generation (this is different from the interstate regulation, where payment is on the basis of scheduled generation). .

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The deviation slab has been narrowed for upcoming projects (i.e., +/-10%) but has been kept as (+/-)15% for existing generators at Intra-state level

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Penalty is calculated at fixed amounts per unit (whereas, for Inter-state it is calculated as a percentage to PPA rate)

»»

RPO accounting can continue as per existing arrangement, and needs no change.

Detailed Mechanism defined for Deviation Settlement Deviation calculation both for Inter-state and Intra-state has been kept as :

New Regulation 2015 Error (%) = »»

100 X (Scheduled Generation – Actual Generation) Available Capacity*

Available Capacity would ideally be the Installed Capacity, unless any of the turbines are on outage. Similarly for solar panels.

In case of Intra-State transmission, Penalty Mechanism for existing generators :

In case of Intra-State transmission, Penalty Mechanism for up-coming generators :

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December 2015

research & Ananlysis

Financial Viability and Grid Parity scenario analysis of

Grid connected Solar Photovoltaic Power Plant In The State Of “Jammu & Kashmir” 1. Report Objective The short report on financial viability analysis report is aimed to provide a glimpse on financial viability in terms of certain expected return in equity, effect if project developed cost on return at expected tariff rate, overview of current and expected financial year for Grid parity of grid connected solar rooftop project with different categories of consumer in the state of Jammu & Kashmir. The report has been sectioned in three section. I. Return in Equity at a range of project per Wp of 58,62,65 and 70 price with PPA at INR 6.00,6.50,7.00,7.50 II. Viable tariff in the state at average price of INR 63.50 /Wp at expected Equity IRR of 12% ,15% and 18% with AD and without AD benefit III. Grid Parity analysis in the state across the different type of Energy Consumer

December 2015

2. Approach of the analysis The below approach has been followed for analysis in each section of the report,

For Section 1 I. Project cost per Wp • The Project cost per Wp starting from Minimum INR 58/Wp , INR 62/Wp, INR 65/Wp and Maximum INR 70/Wp has been taken as solar roof top market is heading toward the lower project cost.

II. Expected PPA Prices (INR/

kWh)& Resulted Equity IRR • The Expected Power purchase price from the grid connected solar photovoltaic rooftop power has been consider at INR 6.00, INR 6.50, INR 7.00, INR 7.50 • The resulted Equity Rate of Return (EIRR) has been calculated based on the considered project cost of INR 58/ Wp, INR 62/Wp, INR 65/Wp and INR 70/Wp with combination of Expected PPA tariff of 6.00, 6.50, 7.00 and 7.50 to the per Unit( kWh) of energy generated from the solar photovoltaic power plant.

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research & Ananlysis

Business Case Scenario • Equity IRR has been work out with considering Accelerated Depreciation (AD) benefit and without Accelerated depreciation benefit for Rooftop Project developer

For Section 2 III. The financial minimum Viable tariff in the state of Jammu & Kashmir has been calculated based on the expected equity rate of return at 12%, 15% and 18% with AD benefit and without AD benefit.

they are paying to DISCOM. The analysis has been done from FY 15-16 to FY 25-26. VIII. The Energy tariff escalation of 5%/YoY and decline of 8%/YoY in the cost of generation from the grid connected solar photovoltaic rooftop power plant. The generation analysis has been done from the PV SYST 6.39 Software with consideration of Meteonorm 7.1 Meteodata base which is Solar Industry proven and lender’s recognized Simulation and reliable meteo database software.

IV. The Section 2 has been analyzed based on the average project cost of INR 63.50/Wp(average of INR 58,62,65 and 70)for the installation.

For Section 3 V. The current status of Grid parity from generation cost of Grid connected rooftop solar photovoltaic plant with current energy charges paying by the different type of Consumer in the state. VI. The cost of generation in this section from the grid connected rooftop solar photovoltaic power plant has been taken at minimum project cost of INR 58/Wp with minimum 12%Equity rate of return. VII. The break even financial year of grid parity for different type of consumer in the state of Jammu & Kashmir to achieve grid parity with cost of generation from Solar Photovoltaic compare to energy charges what

3. Assumption for the analysis The short report on financial viability analysis report is aimed to provide a glimpse on financial viability in terms of certain expected return in equity, effect if project developed cost on return at expected tariff rate, overview of current and expected financial year for Grid parity of grid connected solar rooftop project with different categories of consumer in the state of Jammu & Kashmir. The report has been sectioned in three section

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December 2015

research & Ananlysis

4. Section wise result and analysess Section 1 :

Result • Higher Project cost due to higher transportation cost of material, Higher module mounting structure steel requirement to cater the snow and other worst weather condition in Winter months. • Financial attractiveness Index in the state with Accelerated depreciation benefit with moderate project and lowest tariff rate is Good.

Section 2 :

• The floor prices of tariff rate for grid connected rooftop solar photovoltaic power above INR 6.10/kWh with AD and INR 7.62/KWh shall make the project minimum 12% returnable at moderate prices at INR 63.50/Wp. 66

December 2015

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research & Ananlysis

Section 3 :

• Based on the current tariff rate for energy consumption announced by State Regulator(SERC) for different type of consumer in the State of Jammu & Kashmir, the State and Central Government Department/offices has achieved the Grid Parity with grid connected solar rooftop project. • Based on the type of consumer share pattern only 10% of the consumer has achieved the grid parity in Current financial year 2015-16 with AD .

Section 3 :

• It is expected that the Industrial Consumer at LT level (11 KV or 415 V) shall achieve the Grid parity with Grid connected solar rooftop project in Financial year 2017-18 as tariff hike continuously taking place to meet the annual revenue rate , debt recovery and financial Restructuring program by the DISCOM of the state. • HT Consumer of the State (33 kV or above) shall able to achieve Grid Parity in the state by FY 2023-24. The reason behind is Lower tariff rate due to presence of hydro power generation source in the state. • As per Gensol’s analysis State has to wait till FY 2025-26 to make the grid connected solar rooftop as financial lucrative source of Generation.

This section has been analyzed with consideration of minimum EIRR of 12% at lowest project cost of INR 58/Wp. The tariff rate of lowest Cost with minimum rate of return of 12%at INR 5.64/kWh with AD and INR 7.02/kWh for base year has been work out. Prepared by - -Mr. Ashish Verma, Senior Consultant, Strategic Consulting Division Mr. Imran Ali Naqvi, Head, Strategic Consulting Division, Gensol Engineering Private Limited

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December 2015

MANUFACTURING

EnviroChemie Innovative ater & Waste ater Treatment

For International Solar Industry 2015

Author : Elmar Billenkamp, EnviroChemie GmbH Solar cells are manufactured in a complex process that requires enormous know-how. The objective is to produce panels with a high level of efficiency at low cost. To achieve this, different production processes are used. Basically a distinction is made between solar cells on the basis of silicon wafers and thin-film cells, in which a special process is used to apply the photovoltaic layer onto a carrier medium. The manufacturers of solar cells are constantly developing and improving the production processes.

December 2015

or all methods, large quantities of water are required. The production process leads to polluted wastewater. Since water is becoming more and more valuable as a raw material, efficient water management is necessary. The wastewater from the production process must be treated in such a way that as much water as possible can be recycled. The treated wastewater must reliably comply with the discharge parameters so that it can be discharged without polluting the environment. Besides optimisation of the production process, optimisation of the wastewater treatment is often necessary. This is why Envirochemie is conducting intensive research to continuously develop the process and thus to significantly increase water recycling rates. For this reason, the entire production process has to be taken into account, in order to achieve not only “end of the pipe” solutions but to be able to offer production-integrated solutions.

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MANUFACTURING

In Germany the standards for wastewater treatment are high. They are laid down in Appendix 54 of the Wastewater Ordinance (AbwV). This appendix applies for wastewater whose contaminant load originates primarily from the production of semi-conductor components and solar cells, including the related pre-treatment, intermediate treatment and after-treatment. In addition, local statutes laid down by local authorities and towns must also be complied with. These frequently lay down further requirements depending on the capacity of the local municipal sewage treatment plant and the previous pollution of the outfall (river) into which the sewage treatment plant discharges the treated wastewater. The concepts also require that safety engineering should meet special standards. An example here is the formation of hydrogen from alkaline wastewater when silicon from wafer production is dissolved. Coordinated measures are required here for explosion prevention and protection. Fluoride is created in the production process as hydrofluoric acid HF. The handling of hydrofluoric acid requires special precautions, since this substance is extremely toxic and aggressive, and

contact with even small quantities can have fatal consequences. These basic requirements must be met in all projects worldwide. In the following, three examples will be used to show the continuing innovative water and wastewater treatment in the solar industry. The examples are not only current projects but also processes from the field of research and development.

1. Solar cell production in India

n the past few years, the production of wafers and cells has increasingly been transferred abroad. In some cases, the requirements for the treated wastewater differ from those in Germany. One example of this is India. In India ground and surface water naturally have a high concentration of fluoride. In the state of Rajasthan, almost all districts have high fluoride concentrations (up to 18 ppm) in their drinking/ground water sources. In southern Rajasthan the concentrations of fluoride are up to 11 ppm for comparison in Germany the fluoride concentration is only 0.3 ppm). These high concentrations can be harmful to people and cause chronic fluoride intoxication (fluorosis). The legal regulations are therefore strict in terms of fluoride in treated waters.

Indian law: The fluoride limit concentration as F in treated effluent quality of common effluent treatment plants into inland surface waters is 2 mg/l. In Germany the usual limit value applicable for fluoride is 50 mg/l. The requirement of < 2 mg fluoride/l requires further process technologies. A relevant procedure (Envochem Sorp F) has been developed and tested by EnviroChemie. Fluoride precipitation through Envochem® COL L technology Wastewaters containing fluorides are usually treated by neutralisation with lime and precipitation of fluoride as calcium fluoride according to equation 1. Ca(OH)2 + 2 HF = CaF2 + 2 H2O Eq. 1 In practice final fluoride concentrations of about 20 mg/l to 30 mg/l can be achieved with Envochem® COL L technology. This is in line with literature results (see graph below).

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Envochem® SORP F process

nvoc hem ® SO R P F is a continuously operating wastewater treatment process for cleaning industrial wastewater containing fluoride based on the deep bed filtration / adsorption principle. The elimination of fluoride takes place in a three-stage filtration unit with automated filters. The filters are filled with various special filter materials. The final filter material is doped for optimal adsorption of fluoride.

Photo 1: Envochem® SORP F three stage filtration unit

he following graph shows results of a long-term run of the Envochem® adsorption unit. For more than 120 bed volumes the incoming fluoride concentration is reduced to a constantly low effluent level (almost without being influenced by feed concentration). Fluoride concentration in feed and discharge is shown as normalized value. A maximum elimination of more than 75% is reached. After exhaustion of the adsorption capacity, a sudden increase in the discharge concentration is noticed. After regeneration of the adsorber, effluent quality is re-established.

Diagram 1: Residual concentration of fluoride and pH-value depending on the addition of CaOH2 (Hartinger, 1991)

December 2015

MANUFACTURING

developed. The important thing is knowledge of the production process in order to be able to close the circuit. The production in question is a wafer and cell production system.

Diagram 2: Further reduction of fluoride through adsorption

2. “Zero discharge” concept

s already mentioned above, the production of solar cells is increasingly being transferred to countries in which the cells produced can also be effectively used on account of intensive solar radiation. In these very countries (for example in southern Europe) there is usually a severe shortage of water. For this reason, concepts for water recycling, going as far as “zero discharge”, are sensible and cost-effective there.Such a concept has been worked out for a customer. From river water treatment to recirculation, a complete process for water management with “zero discharge” criteria was

December 2015

In the case in question, the wastewater is classified according to the following criteria: • Sanitary wastewater from the administration department • Organically contaminated rinse water from wafer production • Inorganically contaminated concentrates from cell production • Inorganically contaminated rinse water The weakly contaminated rinse water is treated by means of reverse osmosis after appropriate conditioning. The permeate is fed back before the water treatment plant for high-purity production water. This makes it possible to save considerable quantities of water. The concentrates from the reverse osmosis as well as all other wastewater are treated in the chemical-physical treatment plant of the type R Col. Uniform inflow conditions are EnvochemO important for stable functioning. For this reason, concentrates (discontinuously discharged or rejected treatment baths) are collected separately and then dosed. The pretreated inorganic wastewater is then evaporated. All organically contaminated wastewater is then subjected to an aerobic BiomarO type biological treatment. The cleaned wastewater that has thus R been treated is prepared using a membrane technology until it can be used in the cooling tower.

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MANUFACTURING

3. Energy from wastewater

t is possible to produce energy from wastewater from the production of solar cells, on the basis of crystalline silicon. Today these cells have the highest efficiency level, but are more expensive than solar cells produced on the basis of thin film technology on account of the raw material silicon and the more elaborate manufacturing process. In the course of the entire manufacturing chain, the first wastewater accumulates during the sawing of the mono silicon wafers. The individual thin silicon wafers are sawn from one mono silicon crystal. The objective is to produce as thin wafers as possible with a minimum of sawing loss. To cool the saws, but

also for purposes of effective cutting, large water quantities are used, or else mixtures of polyethylene glycol (PEG) and silicon carbide (Novak, 2011). Here the objective of the wastewater treatment is to keep the water in circulation and to treat it in such a way that it can be discharged. A particular challenge is the dissolved PEG, which remains in the wastewater. Depending on the chain length, PEG is only biodegradable after a long retention time. Biodegradability is defined by means of the total parameter of biological oxygen demand (BOD5). Here, biodegradability in 5 days is determined. For PEG with a greater chain length, the BOD5 is almost zero, but the value BOD30 is almost 100 %, that is, after a retention time of 30 days, PEG is almost completely

14,00

100,00

90,00 Raumbelastung Elimination 80,00 10,00

70,00

60,00 8,00 50,00 6,00 40,00

30,00

4,00

CSB-Elimination [%]

Raumbelastung [kg CSB/(mÂł*d)]

12,00

degradable. Municipal sewage treatment plants, however, are seldom designed for these retention times or the related high sludge age. In small sewage treatment plants, therefore, high loads of PEG are not degradable, or not to a satisfactory degree. In an initial stage, solids are removed from the highly contaminated organic wastewater that has been collected. The chemical-physical process of precipitation / flocculation has proved reliable here. The subsequent filtrate then contains only the dissolved organic components. The anaerobic BiomarO technology is suitable for the biological treatment. In high performance reactors, the total parameter COD of the organically highly contaminated wastewater is effectively reduced.

Besides biological oxygen demand, chemical oxygen demand (COD) is also used as a total parameter for assessing wastewater. The diagram above shows the results obtained in an EnviroChemie pilot plant. An elimination rage of up to 98 % was achieved for COD, with a steady rise in volumetric loading. At the same time, biogas is produced as an energy source material.

20,00 2,00 10,00

0,00 0

0,00 100

Testdauer [d]

Diagram 3: Anaerobic degradation of PEG and corresponding volumetric loading

Photo 3: Diagrammatic view of the anaerobic R Biomar processO

Summary

nergy production from solar energy by means of solar cells will become increasingly important in future. In this environment-friendly technology, however, wastewater with differing levels of contamination is generated, depending on the manufacturing process employed for the solar cells. However, water is becoming a more and more valuable raw material. For this reason, toxic contents must be eliminated and water recovered. Precipitation and adsorption methods will be used for this, accompanied by methods of biological treatment of sewage (anaerobic / aerobic) and membrane processes for recycling rinse water. Besides the recirculation of water, the recovery of valuable materials from the production process is becoming more and more important in order to preserve resources. Here, EnviroChemie is working intensively on innovative techniques within the framework of research projects.

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R Photo 2: Example of an anaerobic BiomaOr plant (Plant described EnviroChemie GmbH)

December 2015

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SOLAR ROOFTOP & OFF GRID

On-Grid Solar Plant Case Study - Vinooth Pothdar

Client Requirement •

“To provide a one-stop power solution for his ever-increasing power needs by cutting down the costs of huge electricity bills thereby Going Green for Roof top Solar Power”.

Solution I.

Solar Town’s 1st ever residential PPA roof top plant in Hyderabad with no upfront cost

II. Installed 6 KW On-grid solar plant that utilizes full roof space. III. Mounted 24 solar modules of each 250Wp from Rene Sola, Top tier manufacturer in the world. Iv. Installed 1 no of 6 KW Inverters from Zever.

Our Approach • Utilization of the maximum available roof-top space to supply 80% base load with complex high rise structures thereby providing way for utility space • Establish Tax benefit through accelerated tax depreciation • To power-up his entire loads including Air Conditioning system’s and Motors

December 2015

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SOLAR ROOFTOP & OFF GRID

Customer Testinominal “Due to huge increase in my monthly EB Bills and high EB tariff rates, I thought of switching over to an alternate source of power and then Solar Town supported me with installing Solar power with no upfront cost wherein I pay only low tariff rate compared to EB thereby saving nearly 20% of my monthly EB charges”

-Vinoth Poddar

Environmental Facts Savings in : CO2 – 0.002 tons H2O – 3.36. M tons Coal – 6.7 Tons

Economics:

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December 2015

research & Ananlysis

White Paper on Generation Analysis- CUF PR comparison 1. INTRODUCTION: SOLAR IN INDIA

ndia is among few fortunate countries to have about 300 clear sunny days. Most part of India receive at an average Global Horizontal Irradiation (GHI) of about 5-6 kWh/m2/day. However our focus for Energy generation has always been through conventional sources till now. This was mainly due to non- availability of technology, and extremely high prices internationally for solar PV raw materials. This has changed in last few years due to internationally falling prices India aims to and also conducive government policy. The Government now increase this intends to achieve better energy share to 30% security through renewables by 2030. because of erratic fossil fuel supply and ever increasing prices globally. This was the driving force for Government to accept ‘In- Principle’ clean energy obligations internationally for mitigating Climate change. This led to serious commitment in direction of renewable energy by Government of India. The renewable energy contributes 13% of overall electricity supply in India. India aims to increase this share to 30% by 2030.

30%

Author : jignesh Rathod, SBU Head

2. Performance Ratio (PR) and Capacity Utilization Factor (CUF)

erformance Ratio describes the relation between actual and the theoretical energy output possible. It is the quality factor for the solar plant. It gives percentage of actual energy available after deducting various losses in system, e.g. due to soiling loss, mismatch loss, loss due to temperature etc. This can be used to determine quality of 2 plants irrespective of location, tilting, radiation condition. More the PR closer to 100% better is the plant quality, less the losses. PR % =

Actual Energy Output (kWh) Solar Irradiation on the plant * Total module area * Efficiency of module

* 100

Capacity Utilization Factor is the ratio of actual energy generated by solar plant in the entire year to the equivalent energy output at its rated capacity over the entire period. The CUF depends on location and also on the radiation received by an area. For Solar PV in India it varies between 15-20 %. PR % =

Actual Energy Output (kWh) Nameplate capacity (kW) * 365 * 24 (h ? ? )

* 100

3. PR and CUF – Influencing factors

henever any comparison between two plants has to be made PR is the much better benchmark than CUF. The comparison should be made for plant with same environmental conditions. The measurement of PR is better tool for performance analysis because it is much more independent of plant operating condition than CUF.

The factors that affect the PR measurement of plants are:1. Environmental factors • Temperature of PV module (higher the temperature lower the performance) • Solar Irradiation • Pyranometer is shaded or soiled (i.e. wrong weather 74

December 2015

data) • The panel are soiled or shaded. • Sensitivity to solar spectrum- different for different module at different environmental conditions

2. Other Factors • Recording Period (data acquisition interval) • Conduction losses • Efficiency of PV module • Shading effect- the modules performance is not proportional to shading percentage.

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research & Ananlysis

Radiation level for the plant • Availability of the grid power • Minimum radiation level to which plant is

activated- depends on inverter technology • Location of the plant

4. Need for revision in Performance Analysis guidelines regarding CUF

he CUF as performance criteria for Solar Plant is unknown outside India. The CUF is useful when the production of energy is controllable according to the requirement. The renewables are intermittent source of energy and has to be utilised whenever it is produced. We cannot control the input for Solar (renewable) energy and hence CUF for Solar Plant is not under human control. It is more dependent on the location of installation. For area with good Global Horizontal Irradiation, the CUF is max above 20% for solar plant. The CUF is more of fuel availability criteria rather than performance measurement. It is most appropriate for thermal plant than renewable. Initially in India the responsibility for the Solar PV development was with National Thermal Power Corporation (NTPC) Limited. The guidelines for Solar Power Plants were made by them. Hence their stress is more on CUF rather than PR. For them PR term was unknown, so today in every document for performance measurement and generation target the CUF as a reference value is taken. The MNRE guidelines for generation make it compulsory for developer to have CUF never below 17% over a year. For CUF below 17% the penalty has to be paid corresponding to the Generation shortfall. Parameters System Nameplate

Value 1

Energy Production in a year 8760 Min CUF

Unit kW kWh %

Actual Energy Production 1489.2

kWh

Theoretical Energy for 75% PR

1985.6

kWh

Min GHI for the theoretical Energy

5.44

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kWh/m²/day

From the above table we find the minimum average irradiance at the tilted plane for achieving 17% CUF is 5.44 kWh/m²/day (average annual). This value will vary according to location. The PR at any location on earth can be greater than 75%. However for CUF above 17% can only be achieved for location with average annual irradiance at the tilted plane above 5.44 kWh/m²/day. This makes PR essential performance measurement criteria and not just CUF. The PR is more independent on the location than CUF. The CUF for the plant must be defined depending upon the location of installation after careful study of historical weather data. The CUF will vary depending upon the location where the plant is located. To avoid generation penalty the developers are forced to keep more DC to AC ratio, i.e. the capacity on DC side is more than AC side. This increases the capital cost and can make project unviable for low irradiation areas.

The MNRE while deciding Generation target has to consider following:• The CUF has to be defined according to the location. • The PR (and not CUF) has to be the criteria for generation measurement. • The tariff has to be decided according to level of irradiation received for the location and must not be constant throughout the country (more for low irradiation areas and less for high irradiation area).

5. DCR Project with Waaree Modules

olar Energy Corporation of India (SECI) is the governing body for the NSM Phase II. The total targeted capacity for Phase II Batch I was 750 MW. Out of this 375 MW was reserved for DCR category. In this Waaree alone has supplied more than 120 MW of modules for the domestic market under NSM in the financial year 2014-15. In next page performance comparison between two DCR projects for which Waaree modules were supplied is given. The project is located at 2 different locations. One project of 50MW is located in Madhya Pradesh and other of 10MW is located in Maharashtra. The quarterly results have shown the uniformity in the performance in these two plants.

December 2015

research & Ananlysis

6. Conclusion& Analysis

rom the graph it can be seen the PR for the plant is always constant and only vary in the range Âą5%. However CUF is showing huge variations throughout the quarter. It can be seen in the above table the Performance Ratio for plant at Maharashtra and Madhya Pradesh is same. However the cumulative CUF for Maharashtra is more than for Madhya Pradesh. This was due to less radiation received at Madhya Pradesh. From this case study we learn that even if the performance is same the CUF is dependent on the radiation received by the location. Hence for the performance analysis of solar (renewable) project the PR must be the criteria and not just CUF.

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December 2015

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December 2015

77Â

Renewable Energy

Renewable

Energy Zones (REZ)s A Concept that needs immediate attention of Indian Developers and Policy Makers Author: Vinod Kala, Managing Director, Emergent Ventures India

BENEFITS OF DEVELOPING REZS

Renewable Energy (RE) in India is set for rapid scale up-

Key benefits of using REZ approach are:

• RE penetration (5% today to 15% by 2022, to meet the challenges of Energy Security, Energy Access, and Climate Change.

1. More effective utilization of land and RE resources Land is limited and should be used most effectively to generate largest impact on the well being of the people. In the current model of development each RE developer choses its own site, and develops its own RE generation capacity. This is most likely to result in lower generation from the same land. For example wind turbines are set at a defined distance from each other to maximize generation. The space between wind turbines may be used to set up solar PV or dedicated biomass plantations to generate additional renewable energy. However this is not attempted right now and therefore potential generation capacity is lost.

• Target of 175 MW of Renewable Capacity by 2022, from current level of ~30 GW. • India might need 350 GW-400 GW of renewable capacity by 2030 if it has to meet the goal of 8 %+/a economic growth with 20% renewable use.

Thus one of the parameters for evaluating effectiveness of REZs could be Energy Density (MW/ KM2) of land mass.

Such rapid scale –up will require much more efficient utilization of its RE resources, and speedier implementation of capacity. Setting up RE Zones is one such method as it improves resource utilization, can generate much higher energy/unit of land mass, can reduce risks and improve investment flow into the sector and allows much better integration with the grid.

Combining technologies such as solar PV and Wind in the same REZ may yield advantages •

Solar generation peaks around noon (11.00am-2.00 pm) whereas wind picks up normally in the afternoon. Hence benefits of balancing and optimal sizing the transmission infrastructure may be realized. Bio-mass generation may be more base-load generation and may be controlled to further flatten the generation curve (cost benefit needs to be understood)

•

The zone can provide ancillary services for grid management, using storage capacity for the zone as well as diversified generation capacities

2. Common infrastructure: Avoidance of duplicated/wasted efforts by independent developers RE generation capacities need infrastructure in the generation zone •

Evacuation lines

•

Control/administration Centre

•

Roads

•

Telecommunications

December 2015

•

Water

•

Security

•

Warehousing and logistical support (for project implementation, and during operations and maintenance phase; spares stores)

•

Residence for site-staff

Independently created, such infrastructure may be either duplicate d / waste d. Togethe r, for a large sized RE Zone, such infrastructure may be created cost effectively and with high quality and reliability, using the most appropriate technical specifications.

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Renewable Energy

3.Reduced developmental risks and time

•

Scheduling and forecasting of generated power

•

discriminator y access to permissions/development rights

The effort of private developers sometimes get stuck in the development phase, due to conflicts with local community or getting government approvals. This risk and timeline would be minimized when a pre-developed site is made available for generation.

•

M anag ement of r amp - ups; frequency management

•

faulty environmental assessments, interference with wild life and other environmentally sensitive areas etc, can be more easily and effectively taken care of for REZ as a whole rather than by each generator.

Also with more accurately assessed ‘renewable energy resource’ assessment underpinning the development effort, the confidence of investors, lenders and insurers would be high for projects located in REZ. It may be easier to qualify for various benefits such as tax exemptions (VAT, sales tax, excise etc..). 4. Improved access to finance With reduced resource, development risks and reduced costs it may be possible to get easier access to finance and in case of large projects be able to arrange funds from cheaper/long term international financial sources. This may be very attractive to developers/ investors.

Because of advantages of diversification arising from Spatial distribution of RE generators, different technologies etc, an REZ would have much better predictability of power generation, flatter generation curves, reduced investments in ‘energy storage’ and ‘forecasting center’ and a much more efficient control over frequency/power ramp ups. Thus going forward it would become technically important to aggregate RE generation capacities and manage their transmission, using REZ concept. 6.Better compliance to Environmental, Social and Governance (ESG Standards) For a REZ, it would be easier and effective to design ESG compliance in the planning stage itself and therefore deliver a positive result on ESG parameters, avoiding potential conflicts and minimizing risks or costs. Issues such as

5.Improved transmission and grid integration

•

land acquisition, protecting farmer’s poor/land owner’s rights

As RE penetration is increasing, grid integration of RE is becoming an important issue

•

accounting for and managing water stress; conflict with agriculture activities

7.Improved Energy Planning REZs will be able to provide much better information for energy planning and scheduling. Future modernization or capacity enhancement may also be easily achieved. 8.Improved Utilization and consumption of renewable energy generated: in load centers in the state as well as around the country. If REZ plans transmission along with central transmission utility (PGCIL) it may be possible to transmit renewable energy generated to meet the needs of large consumers and load centers and meet their RPO targets. This would make selling of power under open access, easy. Investors/developers will have more options to benefit from RPOs as well as power shortages in low resource states and this will make projects viable. A wind-solar Hybrid REZ will offer better ‘value’ compared to a Solar Park, as outlined in the diagram below:

SUMMARY CONCLUSIONS »»

»»

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It is strongly recommended that Government of India brings out a policy for developing REZs. Renewable Energy Corporation of India, which is tasked with development of solar parks in India, could extend the scope to include REZs. REZs should preferably be developed using government owned lands where both solar and wind resources are high. Analysis indicates that in resource rich states such as Gujarat, Rajasthan, Karnataka, Andhra Pradesh, Telangana etc, there are enough sites, which meet the requirements of REZs and can serve the needs of capacities required till 2030. REZs will be successful when long term transmission resource planning is carried out for identified potential REZs. EQ

December 2015

PR DUCTS

DuPont Solamet PV76x Metallization Paste Facilitates REC TwinPeak Solar Panels

DuPont Microcircuit Materials (DuPont) recently collaborated with REC, a leading global provider of solar energy solutions, on its high-efficiency, award-winning TwinPeak solar panels. The metallization grid of the solar cells powering the TwinPeak solar panels is made using DuPont Solamet PV76x photovoltaic metallization paste, an advanced front side silver material designed specifically to enhance Passivated Emitter Rear Cell (PERC) technology that delivers significantly higher solar cell efficiency and results in greater power output for solar panels.

EC TwinPeak Series solar panels were recently recognized with the highly regarded Intersolar Award, which honors innovative solutions in the solar industry. The panels feature half cut cells, split junction boxes, four bus bars and PERC technology, resulting in higher overall energy yield.

“This achievement is the result of close collaboration in which DuPont and REC have focused on optimizing successive generations of materials and manufacturing technologies so that they work better together. DuPont continues to innovate with Solamet pastes and bring the latest advanced materials to help improve the power output of solar panels even further. PERC is an exciting technology that Solamet pastes enable, and REC is getting outstanding results.”

- Thomas Lin Global Photovoltaics Marketing Manager DuPont Microcircuit Materials “REC appreciates the collaboration with DuPont and its development of Solamet pastes which enhance the efficiency of our PERC cells. The paste is specifically designed for this type of technology and helps to enable our cell production process. This strong collaboration with DuPont continues to improve the power output of REC solar panels and reaffirms our reputation for consistently innovative, high performance products.”

- Ter Soon Kim Senior Vice President, Operations & Technology, REC

uPont Solamet PV76x paste is the latest in a series of products designed to enable cutting-edge PERC technology. DuPont was the first in the industry to introduce local back surface field aluminum pastes and rear-side tabbing pastes specifically designed for industrial PERC solar cells, with Solamet PV36x series aluminum pastes and Solamet PV56x series rear-side tabbing pastes, respectively. With Solamet PV76x series front side silver pastes, DuPont was also the first in the industry to develop front side silver pastes specifically for PERC technology. DuPont Solamet integrated metallization solutions for PERC have been demonstrated in production to deliver more than 0.15 percent significant efficiency gains for both multi- and mono-crystalline silicon PERC solar cells. REC is the largest European brand of solar panels, with more than 15 million high-quality panels produced at the end of 2014. With integrated manufacturing from polysilicon to wafers, cells, panels and turnkey solar solutions, REC strives to help meet the world’s growing energy needs. In partnership with a sales channel of distributors, installers, and EPCs, REC panels are installed globally. Founded in 1996, REC is a Bluestar Elkem company with headquarters in Norway and operational headquarters in Singapore. REC’s 1,800 employees worldwide generated revenues of USD 680 million in 2014. 80

December 2015

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PR DUCTS

Su-Kam Introduces Brainy Eco, An Intelligent Solar Home UPS

Brainy Eco- India’s most intelligent Solar Home UPS Su-Kam Power Systems Limited, India’s leading manufacturer of power back up solutions announced the launch of its new productBrainy Eco, an intelligent Solar Home UPS.

he first of its kindBrainy Eco runs the load and simultaneously charges the battery using solar power. Designed to give priority to Solar Power, Brainy Eco uses Grid/ DG Power only when the Solar Power/ Battery Charge is insufficient to meet the load requirements. Brainy Eco is equipped with intelligent features such as ATC Technology, variable battery charging option, Automatic Bypass feature, powerful charging even during low voltage, DT-6Stage technology, MCB protection and is extremely cost efficient as it generates electricity from the sun thereby reducing power bills. Automatic Temperature Compensation (ATC), this technology involves a hi- tech se sor which senses the outside ambient temperature and accordingly adjusts the charging of batteries. The sensor automatically controls over- charging and under- charging, increasing the battery life by at least 6 months and provides excellent battery back-up. Its unique Intelligent Charging Sharing feature means that it if 10 amps is coming from solar panels and your battery needs 15 amps, it will take the rest 5 amps from grid. On the other hand, if solar panels are making full 15 amps, it will not take anything from grid. Speaking on the launch, “We are delighted to announce the launch of India’s most intelligent Solar Home UPS- ‘Brainy Eco’. The product will helpconsumers save a lot on electricity bills.” He further added “Su-Kam has always been atthe forefront in terms of innovation and in delivering state-of-the-art products. We look forward to continue with the same practice in the future as well.

- Kunwer Sachdev Managing Director Su-Kam Su-Kam is one of the top players in residential solar market with 20.6% market share and pan India presence. A continuing focus on quality and strict adherence to international standards has enabled Su-Kam to export its products to various overseas markets across Asia, Africa, the Middle East and the Pacific region.

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December 2015

PR DUCTS

Hanwha Q CELLS Proprietary Q.ANTUM Cell Achieves 19.1% Efficiency Using 1366’s Direct Wafer™ Technology

Hanwha Q CELLS Co., Ltd., a top-10 global photovoltaic manufacturer of highquality, high-efficiency solar modules, and 1366 Technologies recently announced to have jointly achieved cell efficiency gains of 1.4% using 1366’s Direct Wafer products in only 7 months’ time

“These latest results demonstrate the potential in combining 1366´s Direct Wafer Technology with our unique Q.ANTUM technology. Together they can push the efficiency limits of multi-crystalline solar cell technology while at the same time reducing the cost significantly. We´ll continue on our track to jointly mature 1366´s Direct Wafer Technology.”

- Daniel Jeong, Global R&D Head Hanwha Q CELLS “The disruptive nature of the Direct Wafer process is not only evident in the cost and material savings it provides, but in its ability to break the technology limitations of conventional wafer manufacturing. The rapid and significant efficiency gains we’ve achieved together with Hanwha Q CELLS will be further increased by new wafer features made possible with our process,” said Frank van Mierlo, CEO, 1366 Technologies.

- Frank van Mierlo CEO, 1366 Technologies

December 2015

anwha Q CELLS Co., Ltd., a top-10 global photovoltaic manufacturer of highquality, high-efficiency solar modules, and 1366 Technologies recently announced to have jointly achieved cell efficiency gains of 1.4% using 1366’s Direct Wafer products in only 7 months’ time. Both companies have formed a strategic partnership to collaborate on the development of 1366’s proprietary Direct Wafer Technology in March 2015. Starting from efficiencies of 17.7 % in March, both companies have reached a maximum efficiency of 19.1% using 1366’s wafers in October 2015, as was independently confirmed by the Fraunhofer ISE institute. This significant efficiency gain of 1.4 % in only 7 months strongly shows the potential that lies in combining the unique technologies from both companies. Based on 1366 Technologies´ kerfless, drop-in 156mm multi-crystalline wafers, Hanwha Q CELLS has been applying its proprietary Q.ANTUM cell process on the pilot line in Technology & Innovation Headquarters in Germany.

Hanwha Q CELLS´ Q.ANTUM Technology Q.ANTUM technology is an invention of Hanwha Q CELLS. This complex cell architecture is based on a rear-side passivation of the solar cell and includes many additional technological features for maximum energy yield under real conditions. Q.ANTUM improves power output, low-light and temperature-behavior, while at the same time offering all of Q CELLS´ VDE certified quality standards like Anti-PID protection, Hot-spot protect, and Tra.Q laser marking. Hanwha’s innovative Q.ANTUM cell technology currently achieves 19.5% efficiencies in its commercial mass production using conventional multi wafers. In September 2015, the Q.PLUS-G4 Q.ANTUM module has been awarded the “Solar Industry Award 2015” in the category “Module Manufacturing Innovation”.

1366 Technologies` Direct Wafer Technology 1366 Technologies’ Direct Wafer™ process forms multi-crystalline wafers directly from molten silicon instead of today’s multi-step, energy- and capital-intensive process. The result is a uniformly better wafer, created at one-half the cost. The technology also has the enormous benefit of being a “drop-in” replacement for 60 percent of the photovoltaics market, making it seamless for cell and panel manufacturers to readily adopt the technology without adding a single new piece of equipment.

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PR DUCTS

Trina Solar Announces New EfficiencyRecord Of 21.25% Efficiency For Multi-Crystalline Silicon Solar Cell Trina Solar Limited , a global leader in photovoltaic (PV) modules, solutions and services, recently announced that its State Key Laboratory of PV Science and Technology of China has set a new world record for a high-efficiency p-type multi-crystalline silicon (mc-Si) solar cell.

he record-breaking p-type multi-crystalline silicon solar cell was fabricated on a high-quality mc-Si substrate with a process that integrates advanced Honey Plus technologies including back surface passivation and local back surface field. The 156×156 mm2 solar cell reached a total-area efficiency of 21.25%. This result has been independently confirmed by the Fraunhofer ISE CalLab in Germany. This efficiency record breaks the previous 20.76% efficiency world record for mc-Si solar cells also established by Trina Solar one year ago. To set this new record, only low-cost industrial processes which can be easily integrated into large-volume production were used.

“We are very pleased to announce the new efficiency results achieved by our scientists and researchers at the State Key Laboratory of PV Science and Technology. To the best of our knowledge, this is the first time ever that a multi-crystalline silicon solar cell has been able to achieve a conversion efficiency of over 21%,” “This exciting result shows that the development path toward higher efficiencies continues to be bright, even for silicon. Our aim is to continuously integrate innovative technological developments to improve the efficiency and lower the cost of our PV products. This technology advancement in efficiency will strengthen our leadership in the PV industry and allow us to continue providing affordable solar power to the world.”

- Dr. Pierre Verlinden, Vice-President and Chief Scientist of Trina Solar.

Vikram Solar Offers 27 Years Of Linear Power Warranty On Its Solar Modules Tier 1 PV module manufacturer Vikram Solar, recently announced that their 60- and 72-cell multicrystalline silicon solar photovoltaic modules belonging to ELDORA Prime, Ultima, Neo, Grand & Grand Ultima Series will be offered with a Linear Power Warranty upto 27 years across the globe.

he warranted power degradation will be 2.5% in the 1st year, about 0.67% year-on-year from 2nd year till 27th year, finally ending with 80.1% of the original power measured under STC conditions,at the end of the 27th year.VikramSolar hasrun extended in-house reliability testprograms on all the above-mentioned types of modules for the past one year and collected data on failure mechanisms and substantiated them with established reliability modelsbefore they decided to go ahead and announce these “industry leading warranty terms”. The Research and Development team at Vikram Solar followed a well-structured process starting with detailed Failure Mode Effect Analysis (FMEA) for each stage of design, manufacturing and usage of materials, subcomponents and processes. They followed it up with material level testing and life estimation, process modifications with ‘Design for Reliability’ concepts, outdoor testing of modules and finally long duration testing under ‘Highly Accelerated Stress Test’ (HAST) conditions. The results correlated field failure and lifetime test data in a ‘Unified Reliability Model’. It was also noted that under extreme field conditions, VikramSolar ELDORA multi-crystalline modules behaved much better than what others in the market offer recently. Vikram Solar is rolling out this warranty term for all the above product types manufactured and shipped as early as 1st December,2015.

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”We stand by our commitment to global markets and constantly challenge ourselves to deliver lowest cost of ownership to our global customers. By validating these differentiated and best-inclass warranty terms, our Research &Development team has helped us to position our modules as the natural choice for long- term investments. Validation of module degradation is a complex process and is dependent on a number of variables like materials and process conditions used for manufacturing, weather conditions across various geographies, impact of long term degradation effects like UV, humidity and temperature, etc.” - Ivan Saha, President & Chief Technology Officer, Vikram Solar

December 2015

PR DUCTS Valentin Software to Launch PV*SOL premium 2016

The Next Generation of PV Design Software Berlin-based Valentin Software will launch the next generation of its design software PV*SOL premium at the end of this year. With significant new features, PV*SOL premium 2016 will make the process of designing a PV system even easier and faster.

s with previous versions, the shading analysis of roof and ground-mounted systems in 3D mode is the central feature of PV*SOL premium 2016. It calculates how often the modules are covered by shade, and how this affects the system yield, presenting the results graphically. All shading objects can be freely selected and placed anywhere on the ground or building. New: import of satellite maps New in PV*SOL premium 2016 is the possibility of importing floor plans, cadastral maps and screenshots from web-based satellite maps (e.g. Google Earth) directly into the 3D visualization and then including them in users’ projects to scale. The dimensions, orientation and the mutual distances of 3D objects (buildings, trees) can therefore be determined easily and without an on-site appointment. By tracing a floor plan, the program can automatically detect and create the standard 3D objects. It then adjusts the dimensions, orientation and position of the object in the plan. Even without the import of satellite maps, working with 3D objects has become easier with PV*SOL premium 2016. For example, any polygonal floor plan shapes can be drawn and all roof areas are produced with the main dimensions in a plan. Export to popular CAD programs is possible. This plan can be used directly by local installers on-site to build the plant.

December 2015

Exact simulation with minute values With the newly introduced minute simulation, users can now precisely map both self-consumption and inverter oversizing, as well as the interaction of solar power systems with battery storage. “Calculations with the usual hourly values are not always sufficient for the current requirements of network operators”, explains Managing Director Dr. Gerhard Valentin. Moreover, Valentin Software has integrated a specially developed mathematical model for lithium-iron-phosphate and lithium-nickel-oxide batteries into the new programs and also includes complete battery systems in the database.

Another new addition is the tracking of module arrays. The single axis tracking allows both azimuth guided systems as well as systems with east-west tracking to be mapped. With both single and dual axis tracking, it is possible to restrict the tracking angle.

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2016

CONFERENCE & EVENTS Power On 2016

Date: 08-10 Jan 2016 Place: Gujarat, India Tel.: +91 11 22137081 Email: anjali@batteryfair.co.in Web.: www.batteryfair.co.in

Solar Summit Mexico 2016

Date: 27-28 Jan 2016 Place: Mexico City, Mexico Organiser: Greentech Media Tel.: +52 617 5007870 Email: events@greentechmedia.com

Clean Energy Expo China EnerTech World Expo

Date: 03-05 March 2016 Place: Mumbai, India Tel.: +91 22 40373737 Web.: www.biztradeshows.com/enertech-worldexpo

Solar Power Finance & Investment Summit 2016 Date: 22-24 March 2016 Place: San Diego, California, USA Organiser: Infocast Tel.: +1 818 8884444 Email: mickt@infocastevents.com Web.: www.infocastinc.com

Date: 29-31 March 2016 Place: Beijing, China Organiser: Koelnmesse Tel.: +86 10 65907766 707 Email: v.song@koelnmesse.cn Web.: www.cleanenergyexpochina.cn

Intersolar Summit Turkey 2016 Date: 06-06 April 2016 Place: Istanbul, Turkey Organiser: Solar Promotion Tel.: +49 7231 58598215 Web.: www.intersolarglobal.com

International Green Energy Expo & Conference - PV Korea 2016

Intersolar Summit USA East 2016 Date: 03-05 Feb 2016 Place: San Diego, California, USA Tel.: +1 520 6153535 Email: info@euec.com Web.: www.euec.com

Date: 24-24 March 2016 Place: Brooklyn, New York, USA Organiser: Solar promotion Tel.: +49 7231 58598215 Email: info@intersolarglobal.com Web.: www.intersolar-summit.com/usa

Date: 06-08 April 2016 Place: Daegu, Korea Organiser: SKorea New & Renewable Energy Association Tel.: +82 53 6015375 Email: pv@exco.co.kr Web.: www.energyexpo.co.kr

Solar Middle East 2016

9th Solar Srilanka 2016 International Expo

Solarex Istanbul

PV Expo 2016

Sustainable Energy & Technology Asia 2016

EUEC 2016

Date: 01-03 March 2016 Place: Dubai, UAE Tel.: +971 4 3365161 Email: info@solarmiddleeast.ae Web.: www.solarmiddleeast.ae

Date: 02-04 March 2016 Place: Tokyo, Japan Organiser: Reed Expo Tel.: +81 3 33498519 Email: pv@reedexpo.co.jp Web.: www.pvexpo.jp

Date: 23-25 March 2016 Place: Colombo, Srilanka Organiser: CEMS Global Tel.: +1 646 4167902 Email: cems@cemsonline.com Web.: cems-solarexpo.com

Date: 23-25 March 2016 Place: Bangkok, Thailand Organiser: GAT International Tel.: +66 2 5192727 110 Email: wuttaya@gat.co.th Web.: www.seta.asia

Date: 07-09 April 2016 Place: Istanbul, Turkey Organiser: Solarex Tel.: +90 212 6045076 Email: solarex@solarexistanbul.com Web.: eng.solarexistanbul.com

Power & Electricity World Asia 2016

Date: 13-14 April 2016 Place: Jakarta, Indonesia Organiser: Terrapinn Tel.: +65 6222 8550 Email: mildred.ang@terrapinn.com Web.: www.terrapinn.com

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December 2015