MILESTONE

Maharashtra has Achieved 9.7 GW of its 22 GW by 2022 RE Target

Maharashtra has a renewable energy potential of 75 GW, which is 8.3 percent of the country’s total potential. As per the state’s National Electricity Plan 2018, Maharashtra has a renewable energy target of 22 GW to be achieved by 2022. And, as of June 2020, the state has an installed renewable energy capacity of 9.7 GW, as per the latest report issued by the Institute of Energy Economics and Financial Analysis (IEEFA). 9.7 GW/ 22GW is a number capable of diverse opinions, as some (notably the authors of the report) believe that it highlights the need for a strong policy and investment drive to achieve the target, while others might see it as glass half full situation with 44 percent of the target achieved with just over two years left on the target deadline. The report goes on to add that to promote the deployment of renewable energy in the state, Maharashtra Electricity Regulatory Commission (MERC) has, from time to time, set a renewable purchase obligation (RPO) target. And in the financial year 2018/19, the leading Discom in the state i.e. MSEDCL, which is also the largest in the country with a customer base

of 27 million, was short of its RPO target by 1.5 percent for solar and non-solar energy, respectively. It filled the gap by buying renewable energy certificates (RECs) worth Rs 150 crore. The state announced an integrated Renewable Energy Policy in 2015, with a focus on developing renewable energy capacity in the state. The policy also emphasised development of hybrid and distributed solar projects. The state has also been instrumental in the promotion of renewable energy by providing various incentives such as an exemption of electricity duty and a capital subsidy for selected technologies under this policy.

bp Shifts Focus; Planning for 50 GW Renewable Capacity by 2030

bp has introduced its new strategy that will reshape its business as it pivots from being an international oil company focused on producing resources to an integrated energy company focused on delivering solutions for customers. Within 10 years, the firm aims to have increased its annual low carbon investment 10-fold to around USD 5 billion a year, building out an integrated portfolio of low carbon technologies, including renewables, bioenergy and early positions in hydrogen and CCUS. By 2030, it aims to have developed around 50 GW of net renewable generating capacity – a 20-fold increase from 2019 – and to have doubled its consumer interactions to 20 million a day. Over the same period, its oil and gas production is expected to reduce by at least one million barrels of oil equivalent a day, or 40 percent, from 2019 levels. Its remaining hydrocarbon portfolio is expected to be more cost and carbon resilient. By 2030, the firm aims for emissions from its operations and those associated with the carbon in its upstream oil and gas production (addressed by Aim 1 and Aim 2 of its net-zero ambition) to be lower by 30-35 percent and 35-40 percent respectively. One interesting example is how, unlike Reliance in India, it plans to divest its chemicals portfolio at some stage in the future, soon. The firm has also set out a new financial frame to support a fundamental shift in how it allocates capital, towards low carbon

and other energy transition activities. “Energy markets are fundamentally changing, shifting towards low carbon, driven by societal expectations, technology and changes in consumer preferences. And in these transforming markets, bp can compete and create value, based on our skills, experience and relationships. We are confident that the decisions we have taken and the strategy we are setting out today are right for bp, for our shareholders, and for wider society,” said Helge Lund, chairman.

Danske Signs 15-Year PPA With World’s Largest Offshore Wind Farm

Equinor’s energy trading arm – Danske Commodities has announced that it has signed a 15-year offtake power purchase agreement (PPA) with the world’s largest planned offshore wind farm, Dogger Bank. Under the agreement, Danske Commodities will be responsible for the trading and balancing of 480 MW capacity of the project. Dogger Bank Wind Farm is owned by Equinor (50 percent) and SSE Renewables (50 percent) and is located 130 km off the coast of Yorkshire in the UK. With a total capacity of 3.6 GW, the project is set to become the world’s largest offshore wind farm and will provide 4.5 million British households with renewable electricity. The wind farm consists of three phases; Dogger Bank A, Dogger Bank B and Dogger Bank C. Each phase accounts for 1.2 GW of the farm’s total capacity of 3.6 GW. Danske Commodities will offtake power from the first two phases, Dogger Bank A and Dogger Bank B. “Signing a long-term PPA with the world’s largest offshore wind farm cements Danske Commodities’ position as a leading energy

trading company. We are constantly growing our market position in the renewables space to support the energy transition with our expertise in trading and balancing,” said Danske Commodities’ CEO Helle Østergaard Kristiansen. This agreement adds to Danske Commodities’ growing presence in the PPA market. Last year, the energy trader inked a 20-year PPA with Hywind Scotland wind farm (the world’s first floating wind farm), a 15-year PPA with Sheringham Shoal wind farm and a 15-year PPA with Dudgeon wind farm as part of a planned novation from owner Equinor.

Record Low Price in Latest Onshore Wind Auction in Greece

In its latest onshore wind auction, Greece has awarded 20-year contracts for more than 472 MW of onshore wind energy projects, including one at a new record low price. Greek project developer Ascent Power was successful with its bid of EUR 53.86/MWh which now holds the record for the lowest ever bid in a Greek onshore wind auction. This bid, as per WindEurope, continues the latest cost reduction trend with the previous record also set in a wind energy tender concluded earlier in the year. With a total of 15 projects awarded, the prices of all successful bids ranged between EUR 53.86/MWh and EUR 57.70/MWh with a weighted average of EUR 55.67/MWh. In terms of geographical distribution, most capacity was awarded to Arcadia in southern Greece (102 MW), followed by Boeotia in central Greece (94.5 MW), and Kozani in the north (81.6 MW). It has also been reported that the interest in the tender round was much greater than the last few rounds, with a total of 25 projects worth around 748 MW in generational capacity that were submitted in the bidding round. This interest indicates a higher level of competition than in previous tenders. According to WindEurope’s latest publication “the impact of COVID-19 on Europe’s energy sector” Greece installed 287 MW of new capacity in the first six months of 2020. Total installations now stand at 3.9 GW. More than 14 percent of the European nations’

electricity demand was covered by onshore wind in the first half of the year. According to the country’s National Energy and Climate Plan (NECP) it aims to increase its wind energy capacity to more than 7 GW and to reach a 35 percent share of renewables in final energy consumption by 2030.

Portugal Solar Auction Sees 1 Rupee Barrier Broken

Portugal, which held the title of the world’s lowest Tariffs at Rs 1.22 ($16.54/Mwh) approximately after the first round of its solar auctions last year, is set to break the 1 rupee barrier in the second round of auctions, results for which are to be announced today. The earlier record had been eclipsed by Qatar’s 800 MW auction this year, when the lowest rate from a consortium of French energy major Total and Japanese conglomerate Marubeni, at a rupee rate equivalent to Rs 1.16 ( $0.1567/Kwh). Of course, since then, Abu Dhabi also saw a record low auction price of $0.0135/kWh (Rs 1 /Kwh) submitted by French energy group EDF and China’s JinkoPower in a 2 GW tender last month. The current auction round in Portugal, for 700 MW, attracted 35 bids for the ten lots, with the final auction set to take place on August 24 and 25. This round was postponed twice due to the various reasons, including the Covid pandemic after March. It finally started in June this year. News stories have already surfaced, claiming that the lowest bids received on August 24 have broken the previous record for large Global wind major Vestas has announced that it has received two new orders for the supply of wind turbines for wind energy projects in China which have taken the manufacturers’ order intake in the country well over the 1 GW mark for the year 2020. The first order is for the supply of turbines worth 101 MW for a project that includes the supply of 42 V120-2.2 MW wind turbines delivered in 2.4 MW Power Optimised Mode, as well as a 20-year Active Output Management 4000 (AOM 4000) service agreement. Deliveries are expected to begin in the fourth quarter of 2020, with commissioning planned for the same quarter. With this order, the firm reached an order intake in China in 2020 of more than 1 GW. The second order Vestas has received is for the supply of 150 MW of wind turbines for a

scale solar, at $0.0132 (98 paise). The Portugal auctions are part of plans to push for a PV expansion in installed capacity from 572MW (2018) up to 1.6GW (2021) and 8.1GW-9.9GW by 2030. The first round had a ceiling price of $50/MWh or Rs 3.70 at present exchange rates. The price cap for this round was $46.13/MWh, or Rs 3.42/Kwh. These auctions come with an interesting 15 year PPA structure, at the end of which developers can sell the power produced at merchant rates for the remaining 15 year life of the project. It is this second half of the project where calculations have been based, on getting an ‘in’ to the grid at these project in China. It includes the supply of 53 V120-2.2 MW in 2.4 MW Power Optimised low prices, to presumably recoup profits in the second half of the project life cycles. That is one reason many analysts have called some of these bids ‘speculative’, although the government of Portugal is hardly complaining, as long as the projects come up. The main issue, as many developers in India will wistfully agree, is that there is a degree of certainty to government policy, capacity commitments and overall stability, once a bid is won. That gives long term planning of the sort done in these bids, a solid base to work on. Keep watching this space to get a final update on whether the 1

Vestas Surpasses 1 GW Order Intake in China in 2020 With two new Orders

rupee barrier was finally broken ! Mode and seven V155-3.3 MW turbines as well as a 5-year Active Output Management 4000 (AOM 4000) service agreement. With deliveries expected to begin in the third quarter of 2020, with commissioning planned for the same quarter. This order took the order intake in the country to over 1150 MW for the year. Recently, the firm issued its interim financial report for the second quarter (Q2) of the financial year 2020. It has shown a strong performance in spite of a challenging environment, reporting that it generated revenue of EUR 3,541 million – an increase of 67 percent compared to the year-earlier period. The firm has also reintroduced its full-year guidance with an unchanged outlook for revenue of EUR 14-15 billion, and an updated EBIT margin before special items of 5-7 percent.

SolarWindow Electricity-Generating Coatings

PRODUCT BRIEF: The SolarWindow transparent electricity-generating coatings produce energy when exposed to sunlight, indoor light, low light, reflected light, and even shaded light sources. The firm recently released first-person video footage demonstrating its new, highly transparent electricity-generating glass using its coating. PRODUCT FEATURES: Once the coating is applied in ultra-thin layers, ordinary glass becomes an electricity-generating SolarWindow. Nearly invisible wires transport the electricity to edge of the window, which can be routed to power devices, either directly from SolarWindow itself or through a building’s electrical system. APPLICATION: Solar Power Generation PRODUCT BENEFITS: The potential applications for the product are limitless with uses for transparent electricity-generating coatings include building facades, balcony railings, curtain walls, skylights, and shading systems, as well as automotive, truck, marine and aircraft applications, various consumer products and military uses. AVAILABILITY: The firm has officially released the product in August.

Solgaard Solar Boombox

PRODUCT BRIEF: The Solarbank Boombox is a 3-in-1: Powerbank, Bluetooth Speakers, and Solar powered unit. It can charge your phone, play your music and can be topped up with natural solar light when outside. PRODUCT FEATURES: The Boombox battery contains enough charge in one cycle to charge a mobile phone five times, or 90 hours of music via Bluetooth. The 10,000 mAh battery takes 4 hours of charge in sunlight to power one phone. APPLICATION: Power bank and Music Speaker PRODUCT BENEFITS: The Solarbank boombox can be charged using micro-USB, or let it bask in the sun to top it up using its solar panels. 1 hour of sun = 2 hours of music. The product is also compatible with the firms’ Lifeback backpacks. AVAILABILITY: The product is available for purchase on select e-commerce websites and the firms’ website and retails for ~ USD 125 dollars

EyeCube Solar-Powered Wireless Security Camera

PRODUCT BRIEF: For both indoor and outdoor use, the EyeCube solar-powered security camera which boasts of 1080p HD vision, very easy installation and portability because of its miniature size equivalent to an apple. PRODUCT FEATURES: The camera is 100 percent wire-free and is able to absorb sunlight 270° with easy installation and uninstallation. Fully charged, the built-in 3000 mAh battery allows the camera TO work well for more than 3 months without any cable charging. And it can absorb sunlight and transfer to about 10% (100-400mAh) of the electricity per day. APPLICATION: Security Camera PRODUCT BENEFITS: The camera also has the PIR low consumption mode, it allows the camera to only be activated when something appears within the capture range, and only consumes 30-40 mAh per day. AVAILABILITY: The product is in the fundraising phase and will be launched officially soon.

Harbor IP65 Wireless Solar Power Bank

PRODUCT BRIEF: The waterproof Harbor wireless solar power bank comes with an IP65 rating and a massive 30,000 mAh battery that can charge 6 devices simultaneously. PRODUCT FEATURES: The Harbor 3.6x faster PD 3.0 port, built-in Solar Charger, 10W Wireless Charger, 30 hours LED Light, and SOS Flashlight, which makes it a great everyday power companion anytime anywhere. APPLICATION: Power bank PRODUCT BENEFITS: Dust proof and water proof the product is designed to be portable and essential for adventures. The integrated solar panels on the device are capable of charging the battery and the flashlight for up to 30 hours. The product can also be paired with a 10 W

foldable solar panel to recharge the battery faster. AVAILABILITY: The product in the fundraising phase but product deliveries of the first batch have begun, retailing for Rs 5300.

HSBC ‘Green Deposit’ for Corporates

PRODUCT BRIEF: HSBC has launched its Green Deposit product in India for its corporate clients. The first-of-its-kind product for the Indian market, the Green Deposit will enable the bank’s clients to support greener more sustainable projects. PRODUCT FEATURES: The fixed tenure deposits through the product will go towards financing eligible businesses and projects that promote the transition to a low-carbon, climate-resilient and sustainable economy. Like any other deposit, it will offer stable and pre-agreed returns. APPLICATION: Green Energy Financing Term Deposit PRODUCT BENEFITS: The money collected under the product will be exclusively used to finance green initiatives such as renewable energy, clean transportation, green building, sustainable water, etc. Corporates looking for the inclusion of sustainability agenda into their treasury activities or those that have limited opportunities for investment in environmentally beneficial projects can find this product relevant AVAILABILITY: The term deposit is available for corporate client of the bank.

Slim Smart Wallet with Solar and USB Recharge

PRODUCT BRIEF: The Slim smart wallet is the World’s first wallet that comes with solar and USB recharge and two way tracking for phones OR wallet. PRODUCT FEATURES: The wallet has a RFID chip that is used for the two way tracking of the users phone or the Walter itself. The wallet comes with a retrofitted panel that can be used to power devices like mobile phones, bluetooth headphones on the go with the use of sunlight. APPLICATION: Wallet/ Wireless Power Source PRODUCT BENEFITS: Solar Wallet is a modern interpretation of the classic bi-fold wallet, providing +10 extra hours of charge and tracking features when you need them most. And most importantly: without taking up any of your personal space. AVAILABILITY: The product has been backed by 1421 people’ investing’ USD 177,151 for the project, and the product is now available for preorder.

Team Lead - Application Engineer at Siemens Limited

Siemens Limited (India) focuses on the areas of power generation and distribution, intelligent infrastructure for buildings and distributed energy systems, and automation and digitalisation in the process and manufacturing industries. The firm is looking for a candidate for the position of team lead application engineer.

Job Location: Mumbai, Maharashtra

Job Description:

• Technical evaluation of customer’s specification during sales support and project execution. • Technical document preparation and approval from customer • Engineering and modeling of network in EMS, ADMS and AGC in

Spectrum products • Preparation and execution of Factory Acceptance Tests, Site

Acceptance test and customer approval • Delivering the training in Spectrum product applications to customers • Testing of features and reporting the bugs in Clear Quest tool • Coordination with SAG Head Quarter for bug fixing, explaining the project specific requirements • Preparing customer demos for supporting sales team • Technical discussions with customer to understand the requirements and convincing customer to adopt to Siemens specifications

Eligibility Criteria:

• M.Tech in Power Systems and B.E./B.Tech in Electrical Engg with 9-10 years of relevant experience. • Strong power system knowledge and fundamentals. • Good knowledge in SQL queries and SQL developer and ability to analyze and write the C, C++, Fortran, Python, perl programmes. • Enthusiastic about latest trends in power systems and emerging technologies like electrical vehicles, renewable energy, energy conservation and etc. • Knowledge in operating practices in electrical Utilities.

Apply here: https://jobs.siemens.com/jobs/206481?lang=en-us

Investment Analyst at Vena Energy (Senior Associate)

Vena Energy is a leading independent power producer (IPP), and renewable energy developer in the Asia-Pacific region. Headquartered in Singapore, its portfolio consists of solar energy and wind energy assets producing over 11-gigawatts in operation, construction and development. The firm is s looking for a candidate for the position of Investment Analyst (Senior Associate).

Job Location: Delhi

Job Description:

• Develop and maintain financial models to support investment and financing decisions; • Prepare detailed investment documents and investment approval requests; Assist in asset and portfolio valuations; Ability to liaise on behalf of the company with external parties such as transaction advisors, lenders, due diligence consultants, OEMs and other such parties; and Perform other related duties as assigned.

Eligibility Criteria:

• Business, Finance or related course graduate • CFA, MBA, Master’s in Finance, etc. would be an advantage • Up to 5 years of overall work experience. Minimum 1 to 3 years rigorous financial / investment modelling experience is a must. • Project finance modelling experience of 1 to 2 years for power / infrastructure sector will be preferable • Understanding of power sector in India preferably renewables market • Knowledge on Accounting, Finance, Capital Structure &

Valuation

Apply here: https://www.venaenergy.com/all_careers/investmentsenior-associate/

Staff Technical Product Manager at GE Renewable Energy

GE Renewable Energy is a USD 15 billion business which combines one of the broadest portfolios in the renewable energy industry to provide end-to-end solutions for our customers demanding reliable and affordable green power. The firm is looking for a candidate for the position of staff technical product manager.

Job Location: Karnataka

Job Description:

• Technical Lead for Renewable Intelligent Process Automation (RPA, Chat Bot, Process mining) and next gen (AI, Voice & Text recognition) • Be the Subject Matter Expert for new technologies including but not limited to RPA, Chatbot & Automatic Speech Recognition. • Lead and coordinate the domain technical and business discussions relative to future architecture direction across the product portfolio or product line. • Analyze design and develop a roadmap and implementation plan based upon a current vs. future state in a cohesive architecture viewpoint. Review and/or analyze and develop architectural requirements at domain level within product portfolio or team; • Development: act as a member of Automation CoE Team representing the face of high-quality design and development practices (especially with Third party partners)

Eligibility Criteria:

• B.S. Degree in Computer Science or in “STEM” Majors • Minimum 2 years of professional experience. • Strong programming skills. • Experience and expertise of the Agile methodologies (e.g.,

Scrum, Kanban, etc.)