(Business Outlook) SQ - India Aug-Sep Issue 2023

Rajasthan's Green Hydrogen Policy 2023 Receives Government Approval”

POLICY&REGULATORY

Rajasthan Government Approves Green Hydrogen Policy, 2023

Rajasthan Chief Minister Ashok Gehlot has officially unveiled the ‘Rajasthan Green Hydrogen Policy-2023 ’ The policy, designed to encourage investments and facilitate the exploration of clean energy sources within the state, has now received formal approval and is set to be enacted soon by the Energy Department Under the new policy, companies engaged in green energy production within Rajasthan will be eligible for various subsidies, fostering a favorable environment for clean energy initiatives The policy offers a range of incentives, notable provisions include a 50 percent exemption in transmission and distribution charges for 10 years for companies establishing 500 KTPA (kilotonnes per annum) renewable energy plants on the state’s transmission system. Power plants in the green hydrogen sector will enjoy 100 percent reimbursement or waiver of wheeling and transmission charges

Telangana Discoms’ Recovery Petition Withdrawn By NTPC

NTPC Limited had filed a petition seeking recovery of approximately ₹52 crores from the distribution companies (Discoms) of Telangana This amount had been paid by NTPC as an intermediary procurer to various solar power developers, in relation to a claim regarding the ‘Change in Law,’ which had been permitted by the Commission The Commission, considering the NTPC’s submissions, permitted the withdrawal of the petition, leading to its disposal as withdrawn.

Echanda Urja Private Limited Withdraws Petition Following Resolution Of REC Issue

Echanda Urja Private Limited (EUPL) has withdrawn its petition before the regulatory authorities after successfully resolving a dispute regarding the sale of Renewable Energy Certificates (RECs)

The matter, which had been ongoing for several months, concluded a hearing on September 7, 2023 In light of this development, EUPL’s counsel sought permission to withdraw the petition, and

the regulatory authorities granted this request. The matter was formally disposed of as withdrawn, bringing an end to the legal dispute

MNRE Extends DCR Waiver For Solar Cells Under PM KUSUM Scheme’s Component C

The Ministry of New and Renewable Energy (MNRE) has responded to the pleas of stakeholders and State implementing agencies by extending the waiver of the domestic content requirement (DCR) for solar cells under Component C of the PM KUSUM Scheme. In a recent development, the ministry has announced that the DCR provision, which was initially waived off for projects awarded on or before June 20, 2023, will now be relaxed until March 31, 2024. This decision comes in light of the ongoing bidding processes and the difficulties faced by stakeholders in meeting the DCR requirements for solar cells Component C, also known as Feeder Level Solarisation, is a critical part of the PM KUSUM Scheme, aimed at promoting solar power generation at the feeder level

“India's Renewable Energy Revolution:

Acme Solar Seeks Regulatory Relief From Cerc To Ease Operational Hardships For 300 Mw Solar Project

ACME Solar Holdings Private Limited (ASHPL) (Petitioner) has submitted a petition in conjunction with Regulation 41 of the Central Electricity Regulatory Commission (CERC) (Connectivity and General Network Access to the Inter-State Transmission System) Regulations, 2022. The petition aims to obtain relief from certain provisions of the GNA Regulations to alleviate the challenges currently faced by the Petitioner due to the operation of these regulations. ACME Solar has invoked CERC (Connectivity and General Network Access to the InterState Transmission System) Regulations, 2022, to treat the Medium-Term Open Access (MTOA) and Long-Term Access (LTA) granted to them under the Connectivity Regulations, 2009, as deemed to have been granted under the new 2022 regulations, without the requirement of submitting bank guarantees.

Tamil Nadu Advances Renewable Energy Ambitions With Green Energy Corridor Phase-II: Approves 4,000 MW Renewable Energy Evacuation

The Ministry of New & Renewable Energy has given the go-ahead for the implementation of Phase II of the Green Energy Corridor project in Tamil Nadu The ambitious project aims to set up 624 ckm of transmission lines and 2200 MVA capacity substations by FY 202526, facilitating the evacuation of renewable energy power with a capacity of approximately 4000 MW in the state. The project, estimated at ₹719 76 crore, will receive a central government grant of ₹237 52 crore, covering 33% of the total cost Under the supervision of Tamil Nadu Transmission Corporation Limited (TANTRANSCO), the implementation process is already underway

CERC Grants Transmission License To POWERGRID Subsidiary For Evacuation Of 4.5 GW Renewable Energy In Gujarat

In a significant development for India’s renewable energy sector, the Central Electricity Regulatory Commission (CERC) has issued a transmission license to POWERGRID Khavda II-C Transmission, a wholly-owned subsidiary of Power Grid Corporation of India (PGCIL) The license allows them to undertake the evacuation of 4 5 GW of renewable energy at the Khavda pooling station in Gujarat under Phase II, Part C. The project will be executed on a build, own, and operate basis. The competitive bidding process conducted by REC Power Development and Consultancy (RECPDCL) saw PGCIL emerge as the successful bidder, offering the lowest annual transmission charges of Rs 2816 96 million for setting up the transmission system at Khavda Solar Park

"TheNationalGreen HydrogenMission embodiesIndia's cleanenergy com it t"

INVESTMENT

IREDA And Bank Of Maharashtra Join Forces To Boost Renewable Energy Projects

Serentica Renewables Secures ₹2,600 Crores In Debt Funding For 4 GW Hybrid Renewable Energy Projects In Karnataka

AT Capital Group And Vitol Invest $350 Million In Juniper Green Energy

KREDL Seeks Financial Proposals From Consultancy Firms For 500 MW Bidar Solar Park Development

Tata Power Solar And SIDBI Ink Mou To Facilitate Affordable Solar Adoption Financing For MSMEs

DFC Board Of Directors Approves $425 Million Financing Solar Manufacturing Plant In Tamil Nadu

Adani Green And Totalenergies Expand Partnership With Joint Venture

GREENHYDROGEN

India’s Adani Global And Singapore’s Kowa Holdings U Venture

NTPC Green Energy And Nayara Energy Join Forces For Gr

Government Of India Approves National Green Hydrogen Mission And Standards

TENDERTRACKER

NPCIL Invites Bids For 1 7 MW Solar Power Project And O&M Services

SJVN RfS For 1,500 MW ISTS Wind-Solar Hybrid Projects In India

SECI Invites Bids For 1 26 GW Dispatchable Renewable Energy Supply Under T based Competitive Bidding (SECI-FDRE-IV)

RECPDCL Initiates Bidding For Evacuating 20 GW Of Power From Renewable En Zones In Rajasthan

MSE wer Issues Five RFPs Totaling 977 72 MW Solar Capacity U Muk ushi Vahini Yojana In Maharashtra

PROJECTS

Tata Power Renewables Teams Up With Sanyo Special Steel For 28 125 MW Captive Solar Plant

Tata Power Renewable Inks Group Captive Solar Plant Agreement with ANAND Group For 4.4 MW AC

KPI Green Secures 9 7 MW Solar Power Projects As Captive Power Producer

Tata Power Renewable Energy Inks PPA For 4 4 MW AC Group Captive Solar Facility With ANAND Group, A Leading Player In The Automotive Industry

ADB Inks Loan Agreement With Fourth Partner Energy For 25 MW Photovoltaic Plant In India

Tata Power Renewable Energy Limited Inks PPA With Tata Motors For 9 Mwp Pantnagar Solar Plant In Uttarakhand

NLC India And Rajasthan Urja Vikas Nigam Join Forces For 300 MW Solar Power Supply

Ampin Powers JK Cement’s Green Transformation With 10 Mwp Solar Energy Infusion

SJVN Green Energy Signs 1,200 MW Solar Project Deals With Punjab State Power Corporation Limited

Ampin Energy Transition Joins Forces With JCAPCPL For 2.8 Mwp Solar Energy Initiative

NTPC, SJVN, And Hinduja Clinch Victory In Rewa Ultra Mega Solar’s Phase II Auction For 300 MW Floating Solar Park In Madhya Pradesh

NTPC, SJVN, And Hinduja Clinch Victory In Rewa Ultra Mega Solar’s Phase II Auction For 300 MW Floating Solar Park In Madhya Pradesh

NTPC REL Triumphs With 80 MW Floating Solar Project At Omkareshwar Reservoir, Madhya Pradesh

Torrent To Provide Renewable Energy To Shapoorji Pallonji's Desalination Facilities Ministry

Measuring Success: Key Performance Indicators for Fortum's Solar Business in India

Manoj Gupta

Vice President-Renewable Energy Business, Asia region. Fortum India Pvt Ltd

CONVERSATION HIGHLIGHTS

Fortum plans to take small but strategic steps in the Indian solar market, focusing on 500-600 MW projects annually, recognizing the challenges in this dynamic landscape Our success in India by the end of 2024 will be measured by the execution of multiple projects and the establishment of a robust project pipeline for 2025-26 Fortum doesn't aim for market leadership; instead, we aim to be a significant player in the Indian solar market and are selective in choosing the right opportunities.

Can you share your strategic vision for advancing Fortum's solar business in the Indian market in 2024? How do you plan to capitalize on the region's renewable energy potential?

Fortum is evaluating the various right opportunities in the market Fortum plan is to do 500-600 MW project every year. The market is very dynamic and many regulatory challenges therefore need to be very strategic in selecting the right opportunity in the market. Fortum never believed in the market leadership but one of the player in the market and take small steps We understand that the market size is around 20-30 GW every year but due to challenges in land acquisition, grid connectivity, signing of PPA/PSA, we would like to keep exposure to be limited

Can you elaborate on your strategy for integrating energy storage technologies with Fortum's solar installations to enhance grid stability and optimize energy delivery?

We believe in grid stability and it’s an important factor while designing the plant We are continuously evaluating the most competitive and sustainable energy technology and it will definitely be part of our future business expansion plan

Could you briefly outline your approach to managing project risks and ensuring the timely execution of Fortum's solar projects in the dynamic Indian market?

In this dynamic market, advance planning is very important. You need to plan yourself atleast an year in advance before participating in new bid The land and connectivity is the real bottleneck. The companies now a days has to focus on project development activities Creation of land bank and having connectivity in hand will really be a game changer and it’s a necessity too

With solar technology evolving rapidly, how do you plan to stay at the forefront of advancements and integrate the latest innovations into Fortum's solar projects in India?

Fortum always believe in using the advance technologies for better performance of the plant. We were one of first to use bifacial technology on large scale, using robotic cleaning system in all our plants was another decision taken by us at an early stage We are in line with adopting the new technologies and I can assure you that in all our upcoming plants you will always see the use of latest technologies available in the market

What strategies will you employ to integrate energy storage solutions effectively into Fortum's solar projects across India next year?

Our project in execution next year may not have energy storage solution but I am sure in case there will be any strategically fit tender with storage technology then you will find us participating there.

What key performance indicators do you believe are essential for measuring the success of Fortum's solar business in India by the end of 2024?

Key performance indicator will be the execution of atleast 2-3 projects in 2024 and also creation of pipeline for execution of more projects in 2025-26.

MARKET OVERVIEW AN ANALYSIS OF THE SOLAR INDUSTRY'S PERFORMANCE IN INDIA IN 2023 AND HOW IT'S SHAPING UP FOR 2024

industry's growth. The National Solar Mission provided a robust foundation, guiding the nation's solar development through its ambitious targets and policy support These policies fostered an environment conducive to investments and innovation, enabling both domestic and international players to contribute to the industry's expansion.

An essential catalyst driving the solar industry's momentum was the declining cost of solar technology Technological advancements and economies of scale led to a significant reduction in solar module prices. This, in turn, made solar energy more affordable, unlocking opportunities for a broader demographic of consumers, including households and businesses The affordability factor also translated into increased interest from investors, further accelerating project development.

One of the notable trends shaping the industry in 2023 was the increasing focus on distributed solar installations Rooftop solar p al, commercial,

Firstly, technological advancements continued to be a driving force Innovations in solar cell efficiency, module design, and tracking systems promised higher energy yields, enhancing the overall performance of solar installations. These advancements not only increased the attractiveness of solar projects for investors but also propelled India's position as a global leader in solar technology

Secondly, the energy storage revolution gained further momentum. Battery technologies evolved, becoming more efficient, durable, and cost-effective The integration of energy storage with solar projects gained prominence as an effective means to enhance grid reliability, manage means to enhance grid reliability, manage demand fluctuations, and facilitate the transition towards a more resilient and decentralized energy ecosystem.

The evolving regulatory landscape also played a crucial role in shaping the industry's trajectory Policies that incentivized solar adoption, streamlined permitting processes,

solar manufacturing, installation, operation, and maintenance activities generated employment opportunities across the value chain Skill development initiatives ensured a qualified workforce to meet the industry's demands, contributing to both economic growth and social progress.

In conclusion, the Indian solar industry's performance in 2023 reflected its resilience, innovation, and capacity for growth The industry's achievements, including the milestone of 70 GW installed capacity, showcased its potential to contribute to India's sustainable energy future. The evolving landscape, marked by technological advancements, energy storage integration, corporate engagement, regulatory support, and job creation, pointed towards a promising outlook for 2024 and beyond As the world transitions towards cleaner and more sustainable energy sources, India's solar industry is poised to continue its upward trajectory, playing a pivotal role in shaping the nation's energy landscape and contributing to a greener and more resilient future

IN CONVERSATION

Investment, Growth, and Sustainability: SunSource Energy's Role in Indian Solar

Kushagra Nandan Co-Founder, Managing Director and CEO, SunSource Energy

CONVERSATION HIGHLIGHTS

India's Solar sector shows remarkable growth with 71 GW capacity

SunSource Energy is strategically positioned to capitalize on the opportunities presented by the growing demand for Solar power in the Commercial and Industrial segment Solar power now constitutes approximately 16% of the total installed power capacity in India, reflecting its increasing prominence in the energy mix.

How do you perceive the current state of the Solar energy sector in India? What trends and developments have you observed recently?

The Solar energy sector has demonstrated remarkable growth and advancement in India The cumulative Solar capacity in India has impressively surged to reach 71 GW. An evident trend is the steady rise of Solar's presence in the overall power mix. Notably, Solar power now contributes ~16% to the total installed power capacity and an even more significant 38.3% to the total installed renewable capacity in the second quarter of 2023 These figures showcase a substantial rise compared to the preceding year's numbers of 14% and 35 4%, respectively

Growing demand from the Commercial and Industrial (C&I) segment for clean energy transition has driven increased Solar energy consumption, contributing to greater generation capacity. This surge acts as a growth driver for the Solar energy sector in the country In addition to contributing to the net-zero goals, the industry has recognized significant cost savings Due to this, industries including Datacentres, FMCG, Steel, Cement, Pharma and Automobile are accelerating their transition to Open Access Solar.

The government's proactive approach has contributed to the sector's growth. For example, earlier this year the Ministry of New and Renewable Energy (MNRE) had announced plans to release bids for renewable projects totalling 50 GW annually ears, which will further p ergy sector's

advancement Along with this, the government is continuously working on making the sector more conducive to investment with its long-term vision and timely policy interventions

What are some of the key factors driving the growth of the Solar industry in India, and how is SunSource Energy positioned to capitalize on these opportunities?

One of the driving forces behind the rapid growth of this sector is the proactive approach of the government With the aim of achieving a monumental 500 GW of nonfossil fuel-based capacity by 2030, of which 280 GW is slated to come from Solar energy, India has devised comprehensive plans to integrate various renewable sources like Solar, wind, hydro, and nuclear power As aforementioned the demand from the Commercial and Industrial (C&I) segment and favourable regulations for the Solar Open Access Solutions by key states have also led to the growth of the Solar industry in India.

At present, SunSource Energy has established its presence across more than 20 states throughout the country Anticipating a sustained and robust demand from the C&I segment, SunSource Energy is strategically positioned to expand its portfolio and enhance the supply of Solar power to this segment Our primary focus is on delivering comprehensive Solar solutions to commercial and industrial clients, encompassing the entire value chain - to simplify their energy transition and help them with their net-zero goals.

Being a part of the SHV group, a 125-year-old Dutch Multinational, empowers us to move

ahead rapidly in the country's renewable sector. This enables us to navigate the growth trajectory more effectively and facilitate seamless energy transitions for an increasing number of clients SunSource Energy is committed to furthering the adoption of Solar energy in the C&I sector, driving sustainable growth and contributing to the nation's renewable energy objectives

India has set ambitious renewable energy targets. How do you see the Solar sector contributing to the nation's energy transition, and what challenges might arise in achieving these targets?

India is not only on track to achieve its ambitious target of 500-gigawatts renewable energy capacity by 2030 but is also poised to surpass it With this ambitious objective, the renewable sector is set for rapid growth, with Solar energy playing a pivotal role in this capacity addition. It will be interesting to see where we end up I’m confident that we will be proud of our achievements when we reach 2030.

Solar energy holds a pivotal role in India's National Action Plan on Climate Change through the National Solar Mission (NSM) It aligns with the government's focus on sustainable growth and has become a crucial component in addressing the country's energy requirements and ensuring energy security Till recently, the government’s focus naturally was on utilityscale projects due to the benefits of scale, which has led to the growth of the industry , but in the recent past, open access has also been in focus. This is visible through several initiatives including the green electricity rules

The Solar energy sector faces inherent challenges Initial investment and extended payback periods are required for large scale Solar projects. Grid integration remains a work in progress due to Solar's intermittent nature and load-balancing issues Even with domestic manufacturing slowly picking up pace, local module shortages persist as the supply chain relies on Chinese imports for components like cells and wafers. However, the government's second phase of the production linked incentive scheme for Solar modules aims to bolster the entire value chain

Uneven policies across states have always been a reality that open access players must navigate. The regulatory framework for open access varies from one state to another, based on the different policies, which are implemented in different ways. Despite challenges, the Solar sector is poised for robust growth, contributing to India's renewable energy goals

What are the typical advantages for the C&I segment to adopt Open Access Solar Power?

The Commercial and Industrial segment contributes to more than 50% of India’s overall electricity consumption. Embracing Open Access Solar holds significant advantages for this segment Firstly, substantial financial savings can be achieved through the adoption of Solar power The C&I segment in India pays a much higher tariff compared to residential and agricultural electricity consumers. In some states, C&I consumers can save up to 50% on their electricity costs Secondly, corporations can align with their Net Zero targets by fulfilling a significant part of their power requirements through Open Access Solar Corporations globally have committed to timebound net-zero targets. While rooftop Solar has a sizing limitation, Open Access Solar provides them a solution to transition them as well as their suppliers to clean energy and contribute to their scope 2 and scope 3 emission reduction

Government policies and incentives play a significant role in shaping the renewable energy landscape. Please share your remarks.

The government's policy reforms and incentives have created a favourable environment that is bolstering the sector We are actively collaborating with the governm ational objectives by facilit e sector's energy

transitions and

aligning with overall net zero ambitions

The government has been providing support to the sector for some time now In the 202122 Union Budget, the Government introduced the PLI scheme targeting 10 GW of integrated manufacturing capacity for 'High-Efficiency Solar PV Modules' From an overall renewable energy perspective, the Budget for 2023-24 emphasized green growth to bolster India's journey towards NetZero targets In the budget, there was an allocation of Rs 19,700 crore for the National Green Hydrogen Mission, aimed at propelling the economy into a low-carbon intensity and green framework Additionally, Rs 35,000 crore was earmarked for priority investments in energy transition and net-zero objectives

The 2022 Electricity (Promoting Renewable Energy through Green Open Access) Rules, as notified by the Government, marked a positive stride for the sector and bolstered green power demand in the C&I segment. With the C&I segment contributing around 50% of India's electricity consumption, the desire for green energy in this sector, particularly from Open Access projects, has surged in recent years By reducing the Open Access threshold from 1 MW to 100 KW, the Government has unlocked the potential for substantial growth in this market in the upcoming years States are also actively supporting the implementation of open access regulations, thereby facilitating energy transition across various industries

Access to financing is crucial for large-scale Solar projects, please share your perspective. Could you also discuss SunSource Energy's strategies for securing investment and managing financial risks in the Indian Solar market?

Capital is a primary raw material for a Solar project Developing a large-scale Solar plant entails a significant initial investment and incorporating diverse long-term financial models that involve minimal developer contributions is crucial To ensure sustained sector growth along with facilitating capital accessibility, project risk mitigation is also imperative Fostering industry expansion requires the development of innovative financial solutions that provide substantial funding at reduced interest rates and for extended periods, particularly for large-scale Solar endeavors

While developers continue to encounter difficulties securing capital for customers with a weak credit profile, the Solar sector as

a whole has witnessed active participation from the investor community in India and abroad in the backdrop of policy support by the Government. Multilateral organizations like the World Bank and the Asian Development Bank have been providing financing facilities to support the sector.

At SunSource Energy, we have established strategic partnerships with prominent and reputable lenders, which allows us to effectively develop our large-scale Solar projects Additionally, being part of the SHV group, provides us with a unique advantage – of having a long-term perspective for developing projects as well as striking partnerships with clients It enables us to plan and execute our projects with a focus on sustainability, longevity, and optimal performance And confidently navigate the complex landscape of large-scale Solar projects and contribute significantly to India's renewable energy goals

Supply chain disruptions and environmental concerns have gained prominence in recent years. Please comment from your company’s perspective and from an industry standpoint.

The global supply chains have faced significant disruptions due to the dual challenges of the COVID-19 pandemic and the Ukraine crisis. These disruptions have inevitably affected various sectors, including the Solar industry However, at SunSource Energy, we were fortunate to have navigated this period without any impacts. Our ability to maintain operational stability during these challenges can be attributed to our established long-term relationships with our partners. These strong partnerships ensured the timely delivery of essential components and materials required for our Solar projects

The Solar industry's supply chain has been encountering several challenges beyond those posed by Covid-19 and the Ukraine conflict But the solution needs to be a longterm one to protect India’s energy security as well as foster robust and consistent growth. The Government’s view on the same has also been long-term, building domestic capabilities to support the fast paced growth of the sector This regulatory shift is anticipated to impart substantial momentum to the sector in the short term While the initiatives like ALMM might be an impediment in the short term for Solar companies but from a long-term perspective it would be beneficial for India’s Solar Industry ecosystem

IN CONVERSATION

Renewable Energy sector in India: Opportunities and Challenges

Sarabhjit Kaur

Deputy Country Representative, India EDF

Renouvelables

CONVERSATION HIGHLIGHTS

The Indian renewable energy market, by its sheer size, targets and organization, is designed to create fierce competition among developers.

India’s technological and engineering capabilities will enable it to develop and enhance the entire value chain in the renewable energy sector in the coming years

Companies that are gender balanced are proven to have better outcomes in terms of empathy, negotiations and executive decision-making. Although the energy sector has a long way to go to achieve true gender balance, many energy companies, including the EDF Group, are already taking significant measures to promote and advance gender diversity in the workforce

Based on your experience, could you highlight key differences between the Indian renewable energy market and other global markets?

The Indian renewable energy market, by its sheer size, targets and organization, is designed to create fierce competition among developers The government has created renewable energy implementation agencies, and facilitated transparent access to the market

The price-only based e-Reverse Auctions scheme creates intense competition which enables discoms to access cheap electricity Another unique feature is the existence of long term PPAs with fixed tariffs, something that is unique to this market

In your perspective, what are the significant opportunities for India in the development of its renewable energy sector?

The sheer size of the Indian market presents opportunities to accelerate renewable energy sector development

Increasing urbanization and industrialization will certainly drive demand growth Furthermore, India’s sound macroeconomic fundamentals will support robust economic and renewable energy sector growth in the next 2-3 years

We also have good solar and wind resources in some states in India which allow for low LCOE of renewable power Land availability, particularly without too much competition with agricultural land also presents good opportunity to develop renewable power, for example in states like Rajasthan. India has a well developed system of bankable utilityscale PPAs, thanks to the system of guarantees and payment security mechanisms in the PPAs by various nodal agencies (for example, tripartite agreement in the case of designated Renewable Energy Implementation Agencies such as SECI and NHPC). Also, there is good access to debt available to fund renewable energy projects

I believe that another aspect that stands out as a clear advantage for India is its young and talented workforce India’s technological and engineering capabilities will enable it to develop and enhance the entire value chain in the renewable energy sector in the coming years.

As a developer in the renewable energy sector, what are some of the prominent challenges you've encountered during project execution?

Land acquisition and permitting processes in India are generally complicated, and land is sometimes continually secured during construction phase. Moreover, regulatory developments have also impacted our

projects. For example, certain measures for protection of biodiversity, which is very important for us as renewable energy producers, might sometimes constraint the development of projects, as experienced in certain areas of Rajasthan where the Supreme Court of India banned overhead transmission lines to protect an endangered species of bird called the Great Indian Bustard

What advice would you offer to young professionals looking to embark on a career in the renewable energy industry?

The renewable energy industry, and the energy industry in general, is driven by sound fundamentals of engineering and technology Stay curious and take an active interest in the how-and-why of things, regardless of whether you are from an engineering background or not. You must try acquiring and enhancing technical knowledge through a combination of trainings, workshops and conferences in the renewable energy sector.

Also, the renewable energy industry is greatly driven by geopolitics and regulatory developments Therefore, you should try to remain abreast of such developments

Finally, and most importantly (and this applies to any profession, really) be kind, empathetic and never let go of ethics and moral principles in your professional career

Could you share insights on gender diversity in the energy sector, and discuss the importance of promoting women's participation in this field? How can we attract more female talent in the field?

Any savvy business leader will recognize the importance of gender diversity in the workspace Companies that are gender balanced are proven to have better outcomes in terms of empathy, negotiations and executive decision-making

The energy sector indeed has a long way to go to achieve true gender balance in terms of board and senior leadership representation However, it is very encouraging to note that many energy companies, including the EDF Group, are taking significant measures to promote and advance gender diversity through equal opportunity and promoting a culture of Diversity and Inclusiveness in the workforce. At the EDF Group, we have a Women’s Network which champions leadership and career development for women within the organization, and our HR teams regularly monitor our workforce gender make-up.

I believe that in order to attract female talent in the field, we have to start early We have to promote STEM (Science, Technology, Engineering and Mathematics) education for girls in schools itself, which will help increase their participation and engagement in STEM education in higher studies. The earlier we start, the better the outcomes will be in terms of increasing interest and changing societal attitudes

Sarabhjit Kaur is the Deputy Country Representative, India for EDF Renouvelables, and is based in New Delhi Views and opinions expressed in this interview are her own, and do not necessarily reflect the views or positions of entities she represents.

Gaurav Mathur

Director, Trina Solar

India

Trina Solar's Strategic Initiatives: Powering Growth in the SAARC Region

CONVERSATION HIGHLIGHTS

Trina Solar provides complete solar solutions in SAARC with modules, trackers, and storage systems

Trina Solar is dedicated to sustainability, targeting net-zero manufacturing and supply chain impact

Our 'customer-first' approach and stellar reputation make us the top choice for SAARC developers

Can you highlight a strategic initiative or business expansion you spearheaded that significantly contributed to the company's growth in the SAARC region?

The SAARC member states, comprising developing economies such as India, Pakistan, Bangladesh, Sri Lanka, amongst others, have contrasting economic profiles and energy portfolios with high energy consumption patterns According to a study by CRISIL, the total primary energy consumption of these nations is expected to exceed over 1,500 MTOE by 2030.

To meet the rising demand in the SAARC region, Trina Solar has been highlighting its ability to offer integrated solutions, a key differentiator for us in the market and an offering that unlocks customer value Trina Solar is able to offer truly integrated solutions because we are the only solar module manufacturer that also makes trackers and energy storage systems We are also able to help with project management and provide design engineering services Accordingly, Trina Solar has continued to build its regional team, including pre-sales and project management Partneri olutions provider provide h value-added

support, as they are dealing with one company with regards to module technology, tracker, energy storage, etc Trina Solar also provides deep and close support throughout the lifecycle of a project

How do you integrate Trina Solar's commitment to sustainability into your sales strategies, and how has this approach impacted the company's reputation and sales?

Trina Solar was founded 26 years ago as a manufacturer of solar PV modules with the mission to benefit mankind through solar energy As a part of our commitment to sustainability, we have incorporated the concept of green and low-carbon sustainable development into the company’s strategy.

Our products already provide businesses with a net zero source of electricity, but we as a company are working towards having net-zero manufacturing operations and a net-zero supply chain Trina Solar is committed to reducing carbon emissions for the benefit of society at every step of the way Moving forward, Trina Solar will continue to work with all stakeholders to protect the biosphere, support global decarbonization initiatives, and make solar energy available to people everywhere

Our core value of ‘customer-first’ makes us the preferred partner for developers We serve so many countries around the world and we have earned a reputation for being able to deliver on volume For instance, in India, we have strong customer relationships and are known for our high standard of after-sales service. Our customers like the fact that our staff have remained with Trina Solar for more than seven years

How do you tailor Trina Solar's sales approach to cater to the specific needs and market trends of the SAARC region?

In this region, we have observed that while the customers prefer high-power and highly efficient modules, they are extremely cost conscious At Trina Solar, we offer a wide range of products to cater for varying requirements of the customers in many markets across South Asia

For example, in India, the textile industry faces challenges such as erratic power supply and high-power tariffs, amongst others. The industry demands equal power tariffs and steady supply to maintain their competitiveness

Our cost-effective solutions have helped many textile manufacturers, such as Sri Desikanathar Textiles Pvt Ltd, to reduce its electricity bills Sri Desikanathar Textiles deployed Trina Solar modules for its 1.8 MW rooftop project in Tamil Nadu

Trina Solar offers reliable solutions for electricity generation that also reduce one’s dependence on the grid As mentioned, we have also expanded our product and service offering to become a total solutions provider for smart energy.

In terms of latest products, we plan to launch our new n-type solar modules in India, delivering lower BOS costs and LCOE to maximize customer value In addition, we plan to launch our secondgeneration Vanguard 2P tracker in India as well as our energy storage system, Elementa

#DidYouKnow

Trina Solar, with 26 years of experience, is a global leader in solar energy solutions We specialize in high-quality solar modules, trackers, and energy storage systems, making solar power accessible worldwide. Our commitment to sustainability drives us to shape a greener future for all

How does Trina Solar stay ahead with innovative product developments? Are there any upcoming product launches or advancements you can provide a sneak peek into?

Trina Solar has been a consistent leader in the market in terms of innovative technology and product development We will soon be bringing our latest i-TOPCon solar cell technology to India.

The i-TOPCon technology, which stands for tunnel oxide passivized contact technology, is a ‘game-changer’ in the solar industry This technology provides a further boost to the cell’s efficiency When a PERC solar cell is paired with an ultra-thin tunneling oxide layer, it adds another barrier to contain unabsorbed light, increasing the cell’s efficiency Higher efficiency modules allow the module to harvest more energy per unit area iTOPCon modules also have an 80% bifaciality rate

The Vertex N modules, which are powered by the i-TOPCon technology, already provide 685W maximum power output and up to 22.1% module efficiency, but this technology platform is being further developed to provide 700W+ modules We believe this technology is the next big thing in the industry as it provides higher poweroutput and efficiency, delivering lower balance of system (BOS) cost and levelized cost of energy (LCOE).

In India, for instance, we will be launching the i-TOPCon Ultra technology-powered n-type modules The Bureau of Indian Standards (BIS) is evaluating the product and will be ready to enter the market soon as it receives the certification.

We are also introducing a portfolio of nextgeneration integrated solutions in markets such as India, Pakistan, and Bangladesh –integrating PV systems with newgeneration Vanguard 2P smart trackers and advanced energy storage systems.

What technological innovations and advancements have Trina Solar products incorporated to ensure superior performance and efficiency for customers in the SAARC region?

As a leader in the solar PV manufacturing, we believe that for the solar industry to continue to grow at a steady pace in the region and truly displace conventional forms of power generation, it’s imperative to innovate to remain efficient and costeffective

One such emerging technology is the iTOPCon Ultra technology. Our highest power modules, the Vertex N modules, incorporate this technology

In India, for instance, where the utilityscale and commercial and industrial (C&I) projects dominate the market, the Vertex

N technology has remained advantageous Unlike its predecessor, ptype modules, the power of the Vertex N module is generally 15-20W higher Our low voltage design means you can have more modules per string, reducing the balance of system (BOS) cost

We foresee the market will migrate to ntype i-TOPCon technology and we are at the forefront of commercializing this technology, making it a mainstream product Higher production will lead to economies of scale, further reducing the cost difference between the p-type and ntype modules and facilitating its adoption in the market

Another innovation that we will be introducing to the region is our secondgeneration Vanguard 2P tracker system It is worthy of mentioning that Vanguard 2P has multiple motors, reducing the number of mechanical parts. Fewer mechanical parts mean our trackers are quicker and easier to install Cost of maintenance over the product’s lifecycle is also less.

Trackers are gaining popularity in India, especially in southern and western parts, where previously it was a fixed-tilt market. The tracker allows the modules to capture more sunlight throughout the day

Trina Solar has again been recognized as Overall Highest Achiever for the outstanding performance of its Vertex N 700W series modules in the RETC 2023 PV Module Index Report, published recently This is the fourth time Trina Solar has been honored with the accolade, exemplifying its leadership in the PV industry

The annual report evaluates products in terms of quality, performance and reliability, providing a reference for stakeholders about products based on comparative test results

In reliability test, a company is said to have attained High Achievement if power degradation of its product is less than -2%. Trina Solar was given High Achievement in Reliability in respect to all test sequences: DH2000, PID, SDML and TC 600 Performance in DH2000 was particularly notable, with Vertex N 700W series modules showing degradation of as low as -0 87% and -0 96%

There is no doubt that modules with higher energy yield can give investors and end users the greatest level of confidence Trina Solar was accorded High Achievement in Performance with outstanding performance in PID and LeTID RETC’s PID test is twice as rigorous as that for IEC Vertex N 700W series modules have degradation of just -0.59% and -0.53% after PID test, way better than other testing modules and only show degradation of just -0.09% and -0.17% after RETC LeTID test.

In quality test, Trina Solar Vertex N 700W series modules fully passed thresher test, and performed very well. As a leader in PV industry, Trina Solar conducts rigorous quality control from the design stage and is devoted to providing high-quality products to global customers

Being named Overall Highest Achiever underlines Trina Solar’s consistent efforts in keeping its technology and product values to the highest standard. Trina Solar has become a greatly trusted supplier to customers worldwide, with recognition from international institutions, including being named Top Performer for nine consecutive years by PVEL, given the highest AAA ranking five years in a row in the PV ModuleTech Bankability report by PV Tech, being included on the Tier 1 PV Module Maker List numerous times by BNEF and TÜV Rheinland certifying the safe use of its products in marine settings, a first in the industry.

Trina Solar's Overall Highest Achiever title is a testament to their unwavering dedication to maintaining technology and product standards, earning global recognition and trust from investors and customers alike.

with any transformative journey, the path towards solar dominance is not without its challenges Land acquisition, grid integration, and a host of other hurdles have emerged as critical obstacles. However, businesses and stakeholders are forging innovative solutions, demonstrating resilience and adaptability in the face of these challenges

Land acquisition, often regarded as a foundational step in any solar project, presents a multifaceted challenge The allocation of vast expanses of land for solar installations can potentially clash with other land uses, raising concerns about competition for valuable land resources. In rural areas, where solar projects often find their home, community dynamics, and traditional land ownership patterns may further complicate the process

To address these concerns, businesses are embracing innovative approaches. Collaborative land use planning emerges as a solution, facilitating a harmonious coexistence between solar projects and existing land uses Engaging with local communities to understand their needs and concerns enables developers to design projects that align with the community's interests, promoting a symbiotic relationship.

Grid integration poses another intricate challenge As solar energy generation is intermittent and dependent on sunlight, integrating solar power into the existing electricity grid requires careful synchronization Grid stability, voltage regulation, and the management of surplus energy during peak generation period ations

Microgrid solutions have emerged as a promising answer to these challenges. By decentralizing power generation and consumption, microgrids offer localized solutions that reduce the strain on the central grid Additionally, advances in energy storage technologies, such as battery systems, facilitate the efficient storage and release of solar energy, providing a buffer against intermittency.

Financing hurdles have also posed impediments to the proliferation of solar projects Despite the downward trajectory of solar equipment costs, securing funds for project development remains a significant barrier Traditional lenders may perceive solar projects as high-risk endeavours, deterring potential financing avenues

In response, businesses are exploring alternative financing models. Power Purchase Agreements (PPAs), where energy consumers commit to purchasing a certain amount of solar-generated electricity at a predetermined price, have gained traction This arrangement provides a stable revenue stream, making solar projects more appealing to investors. Crowdfunding and green bonds have also emerged as creative means of sourcing funds from a diverse range of stakeholders who share an interest in sustainable energy

Regulatory uncertainties and policy fluctuations have occasionally cast shadows on the solar landscape

Businesses navigating an ever-evolving regulatory environment face challenges in project planning and implementation

Changes in subsidy structures, tax incentives, and grid access policies can impact the viability of solar projects.

To navigate these uncertainties, businesses are employing adaptive strategies Diversifying project portfolios to include a

mix of utility-scale projects, rooftop installations, and off-grid solutions helps hedge against policy shifts that may affect a single project type Establishing robust partnerships with local authorities and policymakers ensures continuous dialogue and a clearer understanding of evolving regulations.

The skilled workforce required for solar project development remains another concern As the sector grows, the demand for professionals in various domains, such as engineering, project management, and operations, surges. Ensuring an adequately skilled workforce to drive the solar revolution forward is imperative

To address this, businesses are investing in training and skill development programs Collaborations with academic institutions and vocational training centres are nurturing a talent pool equipped to meet the demands of the solar industry Internship programs, on-the-job training, and knowledge-sharing platforms contribute to the continuous upskilling of the workforce

In conclusion, the journey towards a solarpowered future in India is marked by challenges that require ingenious solutions From land acquisition and grid integration to financing and regulatory uncertainties, each hurdle presents an opportunity for innovation and growth. The adaptability of businesses, their willingness to engage with communities, explore alternative financing models, and navigate regulatory landscapes, underscores their commitment to realizing the potential of solar energy As the solar sector continues to evolve, the synergy between challenges and solutions serves as a testament to the resilience and determination that define India's pursuit of sustainable energy

CHALLENGES & SOLUTIONS ADDRESSING LAND ACQUISITION, GRID INTEGRATION, AND OTHER CHALLENGES, AND HOW BUSINESSES ARE OVERCOMING THEM

Mr. Sunil Badesra

Country Head - Sungrow India

Empowering India's Renewable Energy Ambitions: Sungrow's 5-Year 'Make in India' Journey CONVERSATION HIGHLIGHTS

Sungrow's achievement of completing 5 years of Indian manufacturing underscores the positive impact of their participation in the 'Make in India' initiative.

Sungrow recently achieved the European standard EN 50549-10 certification from TÜV Rheinland, marking a significant milestone as the first certification for MW-grade highpower energy storage systems (ESS) compatibility in the energy storage industry.

We eagerly look forward to showcasing these pioneering products at REI Expo 2023 and engaging in in-depth discussions with industry experts

How has the 'Make in India' initiative contributed to boosting the recognition and growth of India's energy storage sector, especially in the context of Sungrow's 5-year manufacturing journey as a provider of solar inverters and energy storage systems?

Sungrow's achievement of completing 5 years of Indian manufacturing underscores the positive impact of their participation in the "Make in India" initiative. This participation has not only fueled their own growth but has also played a significant role in advancing India's broader renewable energy and energy storage goals. By manufacturing solar inverters locally, Sungrow has been able to address the specific requirements of the Indian market more effectively and

contribute to the nation's transition to clean and sustainable energy sources

The expansion of domestic manufacturing has created job opportunities within the energy storage sector, benefiting the local workforce and fostering economic development

Furthermore, domestic manufacturing has provided the flexibility to customize products to suit local needs and conditions. As India seeks to expand its renewable energy capacity, having a robust domestic manufacturing base for energy storage systems remains crucial

Sungrow is committed to establishing itself as a respected world-class company, fostering innovation and expanding its presence in the realm of clean power conversion technology.

What can we expect Sungrow to unveil in terms of product launches for the Indian market during REI Expo 2023?

REI Expo has consistently been a leading platform in India, and Sungrow is poised to introduce our latest innovative products to the Indian market We are particularly thrilled to unveil our new residential on-grid and hybrid solutions We eagerly look forward to showcasing these pioneering products at REI Expo 2023 and engaging in in-depth discussions with industry experts. We remain confident that Sungrow's dedication to delivering clean energy solutions will continue to play a central role in promoting the widespread adoption of renewable energy technologies throughout India

How crucial is research and development (R&D) in the realm of solar inverter manufacturing, and what efforts has Sungrow undertaken to promote R&D in this field?

Founded in 1997 under the visionary leadership of University Professor Cao Renxian, Sungrow has firmly solidified its position as a global leader in the solar inverter field Our journey has been marked by our unwavering dedication to research and development, and we take pride in having the industry's largest dedicated R&D team Our diverse product portfolio encompasses PV inverter solutions and energy storage systems, serving utility-scale, commercial & industrial, and residential applications Furthermore, we have gained international recognition for our innovative floating PV plant solutions and a range of other clean energy solutions

With an impressive 25-year track record in the PV industry, Sungrow's products currently drive installations in over 150 countries Our commitment to innovation is exemplified by our dynamic technical R&D team, comprising more than 2600 skilled professionals Additionally, our dedication to quality and reliability is evident through our state-of-the-art inhouse testing center, which holds certifications from esteemed certifying bodies like SGS, CSA, and TÜV Rheinland.

Could you provide insights into Sungrow's current market presence and its strategies for expansion?

Sungrow has been actively engaged in India's burgeoning solar energy sector, aligning with the nation's ambitious renewable energy objectives The global solar energy sector witnessed remarkable growth in 2022, with over 268 GW of installations, underscoring the costeffectiveness and environmental advantages of solar power. Projections for 2023 indicate sustained expansion, with the global market expected to surpass 315 GW, while in India, it is poised to exceed 15 GW. Sungrow stands prepared and well-equipped to provide the latest technology solutions for the PV industry, boasting an extensive and appealing portfolio tailored for both utility-scale and commercial & industrial, as well as residential applications It's noteworthy that Sungrow, within the renewable energy sector, remains agile and responsive to evolving global standards and market dynamics

Sungrow recently achieved certification according to the European standard EN 5054910. Can you describe the company's approach to meeting global standards and ensuring the quality of its products for the international market?

To align with global standards, companies like Sungrow diligently monitor and adhere to industry-specific regulations and certifications, including IEC (International Electrotechnical Commission) standards, UL (Underwriters Laboratories) standards, and regional certifications like EN standards in Europe. Sungrow recently achieved the European standard EN 50549-10 certification from TÜV Rheinland, marking a significant milestone as the first certification for MWgrade high-power energy storage systems (ESS) compatibility in the energy storage industry. This certification serves as a testament to the outstanding adaptability and reliability of Sungrow's ESS, solidifying the company's leading position in grid-connection technology. The continu grow's products

is further underscored by its four-year streak as the most bankable inverter brand in the BloombergNEF (BNEF) PV Module and Inverter Bankability Survey. Notably, Sungrow is the sole inverter supplier to achieve a "100% bankable" ranking this year

Sungrow is renowned for aligning its products with technological advancements. Could you please spotlight some of the new technologies that the company has integrated into its offerings?

Sungrow is indeed renowned for its commitment to integrating cutting-edge technologies into its products, maintaining a prominent position in the solar inverter and energy storage industry One of its most groundbreaking innovations, introduced last year under the name "1+X modular inverter," continues to receive widespread acclaim This innovative solution effectively combines the efficiency benefits of string and central inverters, optimizing operational expenditures (OPEX) exceptionally well, particularly within the 8.8 MW range and below.

Looking ahead, Sungrow remains steadfast in its mission of "Clean power for all." The company will accelerate the development of clean energy power generation system integration, leveraging its expertise in new energy equipment It also aims to foster innovation and expand its presence in the realm of clean power conversion technology By maintaining close engagement with customers, actively participating in global competition, and striving for excellence, Sungrow is committed to establishing itself as a respected world-class company.

In your view, how does technology play a pivotal role in transforming the energy storage sector, and what sorts of market trends do you anticipate in the near future?

Technology plays a pivotal role in driving transformative changes within the energy storage sector Advanced battery technologies, such as LFP, are gaining substantial traction in India's energy storage landscape These technologies offer heightened energy density, extended cycle life, and rapid response capabilities, rendering them well-suited for a diverse range of applications, including grid stabilization and the seamless integration of renewable energy sources. Energy storage technologies assume a critical role in mitigating the inherent variability of renewable sources like solar and wind Battery storage systems excel in capturing surplus energy during periods of high generation and releasing it during peak demand, enhancing grid reliability

The growth of the energy storage market in India hinges significantly on government initiatives and the imperative for grid stability. As technology continues to advance and economies of scale come into play, the cost of energy storage systems, particularly batteries, is expected to decrease consistently This trend will make these solutions more accessible and cost-effective Moreover, energy storage systems are poised to provide essential grid ancillary services, encompassing frequency regulation, voltage support, and swift responses to grid events, further elevating grid reliability. The surge in electric vehicle (EV) sales in India is anticipated to further drive the demand for energy storage solutions

Make In India: A Significant Milestone Achieved By Sungrow India

Sungrow India has achieved a significant milestone of completing 5 years of the Indian manufacturing journey that began in 2018 in line with Govt of India’s “Aatmanirbhar Bharat” initiative with dispatches of string & central inverters from the India factory.

Country Manager of Sungrow India, Sunil Badesra said, “Sungrow India started an inspiring mission to serve local customers with high quality, reliable, and locally manufactured products, making a significant contribution to the remarkable “MAKE IN INDIA” initiative We take great pride in informing you that we have done many value additions in the past 5 years We took the first crucial step with the right intentions and our determination to this market has led us on a path of progress we remain committed to continuous increase in value addition of our products locally as much as possible as we continue to strengthen our local manufacturing capabilities.”

Sungrow India's 5-year journey epitomizes the 'Aatmanirbhar Bharat' spirit, contributing to 'MAKE IN INDIA' and providing high-quality, locally manufactured solutions.

Sungrow India Factory Head, Mallikarjun, added, “The annual production capacity upgrade to 10 GW has resulted in many value additions to “MAKE IN INDIA” initiatives Our factory area has expanded to 1,90,000 sqft and local manpower increased manifold since starting, offering more job opportunities for Indians In the meantime, increasing test capacities will provide customers with a more stable inverters supply, a new digitalized production line for higher efficiency, etc. Sungrow has always been committed to insight into customer needs and this Gigawatt facility is fully equipped in delivering customers with more reliable products and services in the future”.

Over the past five years, the improvement of “MAKE IN INDIA” shows the deep cultivation of Sungrow in the Indian solar market, we are very grateful for witnessing this significant milestone with our Customers who have given us great support, and Sungrow will continue to make improvements in “MAKE IN INDIA” to accelerate India’s clean energy transition and provide “Clean Power for All”.

PROJECT FINANCING STRATEGIES AND TRENDS IN FINANCING SOLAR PROJECTS IN INDIA, INCLUDING THE ROLE OF INTERNATIONAL BANKS AND LOCAL FINANCIAL

India's ambitious goals for renewable energy deployment have led to significant growth in the solar power sector As the country continues its transition towards cleaner and sustainable energy sources, project financing has emerged as a critical factor in driving the success of solar projects. In recent years, there has been a notable shift in project financing strategies and trends, with both international banks and local financial institutions playing pivotal roles in supporting the expansion of solar capacity across the nation.

Introduction

India's commitment to renewable energy is underscored by its target to achieve 500 GW of renewable energy capacity, including 280 GW of solar power, by 2030 The solar sector has witnessed remarkable growth with installed capacity of over 71 GW, driven by favorable policies, declining solar equipment costs, and increasing investor interest. However, the capital-intensive nature of solar projects necessitates innovative project financing strategies to ensure their viability and scalability

Project Financing Strategies

Project financing involves securing the necessary funds to develop and operate a specific project, with the project's assets and cash flows serving as collateral for the financing. In the context of solar projects in India, several financing strategies have gained prominence:

Debt Financing: Debt financing remains a cornerstone of solar project funding. Developers often collaborate with banks and financial institutions to secure loans that cover a significant portion of project costs In recent years, international banks have shown a growing interest in financing Indian solar projects due to the sector's potential and the country's comm e energy.

Equity Financing: Equity financing involves raising capital by selling ownership stakes in the solar project Private equity firms, institutional investors, and infrastructure funds have become key players in providing equity financing for solar projects in India This strategy not only infuses funds into the projects but also spreads the risk among multiple investors

Public-Private Partnerships (PPPs): PPPs have gained traction as a way to collaborate between the public sector and private entities. These partnerships leverage the strengths of both sectors to develop and operate solar projects PPPs can help mitigate financial risks and attract private sector expertise, allowing for more efficient project execution

Trends in Financing Solar Projects

Green Bonds: Green bonds have gained popularity as a means to raise capital for sustainable projects, including solar power These bonds are issued by governments, corporations, or financial institutions and are specifically earmarked for environmentally friendly initiatives Investors are increasingly attracted to green bonds due to their ethical and sustainable investment appeal

Foreign Direct Investment (FDI): India has liberalized its foreign direct investment policies, allowing international investors to participate in the country's renewable energy sector more easily This has led to a surge in FDI inflows, with international players contributing to the financing of solar projects and bringing in advanced technology and expertise.

Domestic Financing Support: Recognizing the importance of local financial institutions, the Indian government has taken steps to encourage domestic banks and NBFCs (Non-Banking Financial Companies) to fund solar projects. Initiatives such as priority sector lending, refinancing options, and specialized lending windows have made it easier for local financial institutions to participate in solar project financing

Role of International Banks

International banks have played a crucial role in shaping the financing landscape of solar projects in India. These banks bring global expertise, access to international capital markets, and risk mitigation tools, which are particularly valuable in large-scale projects They often collaborate with domestic financial institutions to provide a comprehensive financing package Additionally, international banks help bridge funding gaps, enable technology transfer, and enhance project management practices

Role of Local Financial Institutions

Local financial institutions are equally instrumental in financing solar projects. Their understanding of the domestic market, regulatory environment, and local nuances gives them a unique edge These institutions are more attuned to the challenges and opportunities presented by India's solar sector, enabling them to tailor financing solutions that align with the needs of local developers. the local institutions are IREDA, PFC, REC, NBFC & nationalised banks

Conclusion

As India continues its journey towards a cleaner and more sustainable energy future, project financing remains a linchpin in the success of solar projects. The evolving landscape of financing strategies, including debt and equity financing, public-private partnerships, green bonds, and foreign direct investment, reflects the dynamic nature of the sector Both international banks and local financial institutions contribute significantly to the growth of solar capacity, each bringing their strengths to the table. This collaborative approach, coupled with favorable policies and technological advancements, positions India as a global leader in solar energy deployment The financing trends witnessed in the Indian solar sector serve as valuable lessons for other countries striving to embrace renewable energy on a large scale.

Arijit Mitra

General Manager- DG BU India Longi Solar

Navigating Trends: Insights from LONGi on India's Solar Module Industry

CONVERSATION HIGHLIGHTS

India's remarkable progress in solar energy adoption is evident as it ranks fourth globally in terms of installed solar capacity LONGi continues to contribute to the government's ambitious target of achieving 280 GW of solar capacity by 2030 LONGi stands for quality, innovation, and sustainability. Our focus goes beyond competition we're here to contribute: Innovating technology, elevating quality standards, and promoting industry sustainability. Our focus is directed towards cell technology that we believe carries minimal risk of future disruptions We are dedicated to ensuring a stable and resilient supply chain This is the reason LONGi does not launch a product which is not sustainable in manufacturing.

What are the key market trends you've observed in the Indian solar module and cell industry over the past year?

India's remarkable progress in solar energy adoption is evident as it ranks fourth globally in terms of installed solar capacity LONGi continues to contribute to the government's ambitious target of achieving 280 GW of solar capacity by 2030.

Several key trends have emerged in India's solar energy sector:

The Indian market appears wary of large, high-wattage solar modules

There are concerns regarding compatibility with existing infrastructure, technical feasibility, and the inherent risks involved in implementing novel technologies

There is a rising interest in bi-facial solar technology among commercial and industrial (C&I) developers

Solar developers are frequently cautious while working with unproven technology.

We have been observing a significant increase in exports from domestic module manufacturers while installers are struggling to meet project deadlines, the focus of domestic manufacturers on exporting to the international market suggests that manufacturing solar modules in India is not economically viable given market price expectations

Can you highlight some of the unique challenges and opportunities you see in the Indian solar industry compared to other global markets?

Challenges:

The ministry is diligently focused on safeguarding domestic manufacturing efforts, yet the nation's capacity for 500Wp+ modules has barely reached 10 GW Unfortunately, due to policy uncertainties, the market isn't aligning with the expected organic supply-demand trend This inconsistency makes it challenging for developers to effectively plan their projects.

While protectionist measures aim to nurture local manufacturing, there's a concern that an excessive focus on protectionism might inadvertently hinder the growth of manufacturing by limiting healthy competition A strong manufacturing ecosystem thrives on competition, and this can be fully realized when international manufacturers participate in the market.

A lack of emphasis on research and development (R&D) activities among manufacturers This deficiency has broader ramifications, as it hampers the maturation of the upstream supply chain, which is currently underdeveloped

The potential for growth within the solar industry could be impeded by the absence of optimized storage technology

However, policy makers are already taking action to streamline all the above challenges.

Opportunities:

The growing international power cooperation will make India as a power producing and exporting country This growing engagement holds the potential to reshape India's role in the global energy landscape

The Indian government's efforts to develop green hydrogen will provide the renewable energy industry a further inorganic boost.

India's recent entry into the field of innovation offers a distinct advantage: the opportunity to nurture new, untapped ideas.

What strategies does LONGi employ to maintain a competitive edge in terms of both product quality and pricing in the Indian market?

LONGi stands for quality, innovation, and sustainability

Our focus goes beyond competition we're here to contribute:

Innovating technology

Elevating quality standards

Promoting industry sustainability

India aims to achieve ambitious solar capacity targets. How does LONGi plan to contribute to this goal while ensuring consistent product innovation?

India is at the forefront of guiding the world towards a more environmentally conscious future, focusing not only on power but also on transforming the entire energy industry LONGi is fully aligned with India's vision, sharing the commitment to this sustainable journey Every action LONGi takes in its growth trajectory will be with ensuring a harmonious alignment towards a greener and more sustainable world.

The execution targets are a process, but it is important to deliver components which can sustain expectation of long tenure of generation in a sustainable way

LONGi will ensure continuous innovation which will help solar projects generate more power. At the same time, we will ensure that the technology we deliver is sustainable for long operating years.

We will ensure the high-quality solar modules we supply will function for a full 25 to 30 years

We will maintain our presence as a manufacturer for a longer period in order to service the large volume of modules we have shipped to India

Given the evolving regulatory landscape, how does LONGi adapt its business strategies to stay compliant and seize emerging opportunities in India?

The evolution of regulatory guidance is inevitable in any growing market. But since India is being considered as a matured solar industry in a global perspective, I am sure the dilemmas will reduce with time.

Policy frameworks are designed to uplift industries, yet execution bottlenecks can arise. Clearing these obstacles would greatly benefit the entire sector

As a company, we are committed to adhering to local regulatory requirements and will continue to do so proactively

How does LONGi address concerns related to supply chain disruptions and ensure a steady flow of products to meet the demands of the Indian market?

The recent years have provided valuable lessons in effectively navigating supply chain challenges. Such disruptions often stem from two primary factors:

Concentrating supply chains within the same geographic area can lead to vulnerabilities

Diversifying sourcing and distribution can enhance resilience Which LONGi is already doing actively.

Supply chain disruptions can also occur when raw materials are utilized across multiple industries Dependencies on such materials underscore the need for contingency plans to manage fluctuations

Our focus is directed towards cell technology that we believe carries minimal risk of future disruptions We are dedicated to ensuring a stable and resilient supply chain

This is the reason LONGi does not launch a product which is not sustainable in manufacturing

#DidYouKnow

LONGi, founded in 2000, is a leading global manufacturer of solar modules and cells Renowned for its commitment to quality, innovation, and sustainability, LONGi plays a pivotal role in advancing solar energy adoption worldwide. The company aligns with India's ambitious solar goals, contributing to the nation's vision for a greener and more sustainable future while maintaining a focus on resilient supply chains and sustainable manufacturing practices

Divya Prakash Choraria

CEO, Wattpower Systems Private Limited

Sustainable Dreams Turned Reality: A Conversation with the Visionary behind Wattpower CONVERSATION HIGHLIGHTS

My inspiration to establish a solar inverter company stemmed from a deep-rooted passion for renewable energy and sustainable development

We founded Wattpower Systems with a vision to lead the renewable energy revolution and create a world where clean energy is accessible to all At Wattpower, our solar inverters stand out in the market due to their exceptional performance, reliability, and advanced features

What motivated you to establish your own solar inverter company?

As the visionary behind Wattpower Systems Private Limited, my inspiration to establish a solar inverter company stemmed from a deep-rooted passion for renewable energy and sustainable development Witnessing the urgent need to combat climate change and the immense potential of solar energy in reshaping the global energy landscape, I was motivated to create a company that would contribute to a cleaner and greener future. The desire to impact the environment positively and society while driving technological innovation and economic growth in the renewable energy sector served as the driving force behind Wattpower's inception

How did you become involved in the renewable energy sector?

My journey into the renewable energy industry started during my educational years, where I pursued studies in Business Administration I was always drawn to the idea of sustainable

development and sought opportunities to make a difference in the world of clean energy I gained valuable insights and expertise in the sector through various professional roles and experiences, including engagements in renewable and telecom projects in Nepal and India These experiences solidified my commitment to renewable energy and provided a platform for me to contribute actively to its growth and development.

What distinguishes your solar inverters from others available in the market?

At Wattpower, our solar inverters stand out in the market due to their exceptional performance, reliability, and advanced features Our inverters are engineered to maximize energy conversion from solar sources, ensuring optimal energy production and plant uptime We place great emphasis on product quality, adhering to stringent testing and industry standards to guarantee reliability and longevity The seamless integration of smart monitoring and control capabilities allows our customers to track performance in real time, enabling timely maintenance and fault detection

In your opinion, what are the most crucial factors influencing the widespread adoption of solar energy?

The widespread adoption of solar energy relies on several crucial factors. First and foremost, favorable government policies and incentives play a pivotal role in promoting the use of solar power Financial support, tax incentives, and regulatory frameworks that encourage renewable energy installations can

accelerate solar adoption Additionally, technological advancements leading to increased efficiency and reduced costs of solar panels and inverters are vital in making solar energy competitive with traditional energy sources. Public awareness and education about the benefits of solar energy, along with collaborations between governments, businesses, and communities, will also drive the widespread adoption of solar power

How do you assure the quality and dependability of your solar inverters for your customers?

At Wattpower Systems, ensuring the quality and reliability of our solar inverters is of paramount importance We employ stringent quality control measures throughout the manufacturing process, adhering to international standards and industry best practices Our products undergo rigorous testing and performance evaluations to guarantee consistent quality and reliability Additionally, we provide comprehensive warranties and exceptional customer support to ensure that our customers have a seamless experience with our products Continuous monitoring and feedback from our clients help us identify areas for improvement, which we swiftly incorporate into our product development process.

My inspiration to establish a solar inverter company stemmed from a deep-rooted passion for renewable energy and sustainable development.

Empowering India's Renewable Energy Revolution with Strategic Projects and Manufacturing Dominance

Arctech, the esteemed global leader in solar tracking, racking, and BIPV solutions, has made remarkable strides since entering the Indian market seven years ago With a strong commitment to advancing renewable energy, Arctech has not only successfully executed multiple large-scale projects in India but has also established an impressive manufacturing base with a capacity of 3 GW in the country This extraordinary growth showcases Arctech's unwavering dedication to India's renewable energy sector and solidifies their position as a trusted and influential player in the industry

The company is poised to provide accumulated 662 MW SkyLine II solar tracking solution for two projects with strategic partners in India, marking the company's milestone in 2023 following the 2 8 GW mega project of SkyLine II mono-axial solar trackers for a project in Gujarat, India With a total capacity of 15 GW, this project is set to become the country's largest operational solar plant upon grid connection

Arctech has achieved significant milestones in India, particularly with its strategic partner with the successful shipment of 1.7 GW of 1P SkyLine trackers to Rajasthan, where the 242 MW project is located It further strengthens Arctech's presence in the state, which already boasts a historical renewable energy capacity of over 19 GW. Additionally, Arctech recently announced that they have bagged a 420 MW SkyLine II project in Surel, India

The company's commitment to local content and service aligns with the growing demand in the Indian renewable energy supply chain, positioning Arctech as a key player in the market In order to better serve its clients and ensure timely delivery of its products, Arctech has taken a significant step by establishing a local manufacturing base in India By localizing its manufacturing operations, Arctech reinforces its commitment to the Indian renewable energy sector while streamlining its supply chain for a seamless and expedited delivery process In August 2022, Arctech celebrated the inauguration of its first joint venture manufacturing base, Jash Energy in Mundra, India with a 3 GW annual capacity, capable of producing all major components for its solar tracker products.

The company has positioned SkyLine II and SkyWings as flagship products with a peculiar edge in the Indian market. SkyLine II is the first 1P (one-in-portrait) tracker designed with a synchronous multipoint drive mechanism enables a new possibility of designing the plant using trackers with identical pile configurations, overcoming the uncertainty faced in the early stage of plant design and

construction The synchronous multi-point drive mechanism technology rigidifies the tracker to the point of enabling 0 degree wind stow mode, hence reducing the difference of wind pressure and post loads between the exterior and interior of the PV plant By doing so, Skyline II enables a new possibility of designing the plant using trackers with identical pile configurations, overcoming the uncertainty faced in the early stage of plant design and construction

SkyWings, powered by patented bidirectional slew drives, is a groundbreaking solar tracking solution As the world's first dual row tracker with a multi-point drive mechanism, SkyWings combines the benefits of dual row trackers while offering compatibility with undulating terrains Its high rigidity, enabled by the multi-point drive design, ensures exceptional performance

The patented bidirectional slew drives allow synchronized movement of two tracker rows, significantly increasing undulation tolerance by up to 15% in both east-west and north-south directions This adaptability makes SkyWings ideal for challenging terrains. Moreover, its modular design adds flexibility to plant layouts, accommodating more PV modules compared to conventional systems under similar terrain conditions.

In addition to its undulation adaptability, SkyWings features a specially designed torque tube the patented triple D torque tube. This enables the tracker to stow horizontally with remarkable stability By stowing flat, pressure on the PV module surface is reduced, minimizing the risk of cracking and delamination, particularly for larger modules. SkyWings initiates stowing only at 22m/s wind speed, resulting in up to 2% higher energy yield per year and reduced levelized cost of energy

Furthermore, SkyWings offers the advantage of extended post span, which can be extended up to 10 meters This extension lowers installation costs by up to 20% and reduces overall EPC expenditure by up to 2% compared to projects utilizing traditional trackers

Gail Chen - VP, East Asia and India, Arctech | CEO of Arctech India | Director and CEO, Jash Energy remarked, "Arctech will continue to operate, develop and deeply cultivate local supply chain in the Indian market, optimizing efficiency and reducing the cost of solar projects to proactively respond to the Indian Government's Mission of 500GW by 2030 "

TALKS

Arun Chaudhary

Sales Head - MEA & India

Sineng Electric (India) Pvt., Ltd.

The Rise of Sineng Electric: Leading the Way in Solar Inverters in MEA and India

CONVERSATION HIGHLIGHTS

Sineng Electric is recognized as the Top 1 central inverter supplier for the India market, accounting for 39 5% market share in CY 2022, according to JMK

Sineng Electric is dedicated to reducing global greenhouse gas emissions by providing cutting-edge energy solutions in the solar industry

Sineng's motto, 'Endless Energy for Limitless Green,' reflects our commitment to reducing greenhouse gas emissions and making the world a better place.

Can you highlight Sineng Electric's top-performing solar inverter products in the MEA and India markets, and explain how they address specific energy needs in these regions?

Sineng Electric is committed and contributing to reducing global green house emission by providing upgraded energy solutions in solar Industry. By so far, we have shipped over 50GW+ of inverters The enormous investment in research and development enables us to offer a comprehensive product portfolio in which market response for central inverter solutions has been widely appreciated Pertaining to India solar demand and technical optimization, unlike before 2016, more and more utility plants became the reality and 12 5MW block size is the preferred choice to optimize the plant BOS. Our Signature 3 125MW inverter ranks as Top 1 central inverter in India market since 2022

Sineng had setup a 3GW factory in India in 2018, market response to our product & services had led us to brought 10GW factory expansion in Bangalore, 2021. By Q2 2023, we received 10GW+ orders and partnered with leading players in their green e mpact design

and smart control algorithm of 3.125MW inverter give an ease of installation, controlling and monitoring Everything that a plant owner might want is included in this product, including DC/AC side protection, high load ratio, high overload capacity, environmental protection, IEC compliances, SVG function, PID capability, IP65 for key components, and more! Utility-scale ground-mounted PV plants with block sizes of 6 25 MW or 12 5 MW are ideal for using it. As a result of the growing demand for our products and services, we have expanded further and opened offices across the world, including the United Arab Emirates, Europe, the United States, Brazil etc

The Middle East's location and extreme environmental circumstances call for hightech products to perform Central inverter series - EP-3 125-HA-UD and it’s skid integrated solution EP-6250-HA-UD consists of 2*3.125MW inverters, SF6 switchgear, 6 25MW double split transformer and LV distribution & communication cabinet are designed to minimize the civil works contributing to minimizing the overall cost And we have started our journey here with 700MW order in the Middle East

Can you highlight a recent technological breakthrough that has not only driven which are going to be launched in REI Expo 2023 in India?

Sineng aspires to reduce greenhouse gas emissions in order to make the world a better place to live by adhering to its motto, "Endless Energy for Limitless Green " Sineng has also won numerous prizes for its innovations. Multilevel inverter topologies, 1000V to 1500V systems, smart cooling, string level monitoring and controlling, compact

design, compatibility with bifacial model, robust protection against harsh environments, and optimization in every level of operation are just a few of the new technologies that have been introduced to the industry. All of the aforementioned state-of-the-art technologies are included in the newest central, string, and ESS solutions. Continuous innovations and endeavor to provide future-proof products to meet the evolving market needs, latest standards and techno-commercial environment have made us to bring a variety of products We have launched our 4 4MW central inverter and 350kW string inverter in 2023 for the Indian market

What is the market share of Sineng solar inverters in the Indian market, which series of inverters are in more demand?

Sineng is among Top 8 PV Inverter supplier globally. Referring to JMK, CY 2022, Sineng has been recognized as Top 1 central inverter supplier for India market , accounting for 39.5% in this domain. Mercom CY 2022 & Bridge to India CY 2022, has acknowledged Sineng Electric as Top 2 inverter supplier in India Our EP Series 3.125MW central inverter and 275kW string inverter are the mostly in demand supported by best-in-class services

to Supply the Largest Solar Power Plant in the Western Balkans, Advancing Albania's Renewable Energy Goals

Fier, Albania, August 4, 2023 - Sineng Electric, a leading provider of renewable energy solutions, proudly announces its participation in the 140MW Karavasta solar farm developed, built and operated by Voltalia, which stands as the largest photovoltaic (PV) plant in the Western Balkans and Albania's first utility-scale PV plant This groundbreaking project not only encapsulates Sineng's intense devotion to shaping a greener world but also marks a significant milestone in Albania's journey towards sustainability

Albania’s Ministry of Infrastructure and Energy, driven by ambitious climate objectives, endeavors to add an additional 1 Gigawatt (GW) of renewable capacity through at least three procedures, positioning Albania as a net exporter of renewable energy by 2030 This solar project which deploys Sineng's cutting-edge EP-6250-HC-UD/30 MV turnkey stations, plays a pivotal role in realizing these targets, with the innovative solutions leading the way

By choosing the EP-6250-HC-UD/30 turnkey stations, renowned for their exceptional advantages such as a maximum DC/AC ratio of up to 1 8, impressive generation efficiency, and enhanced overloading capability, the project developed by Voltalia will ensure improved reliability and optimize the return on investment for the entire PV system

With Sineng's industry-leading solutions and exceptional services, the Karavasta Solar Project emerges as a catalyst for a greener ecosystem while paving the way for economic decarbonization Once commissioned, the plant will generate sustainable electricity, effectively satisfying the annual consumption needs of nearly 220,000 inhabitants. Furthermore, this significant achievement will mitigate over 29,165 tons of CO2 emissions annually, equivalent to an outstanding 9 5% reduction in the industrial sector's carbon emissions in Albania

Jianfei Li, Vice President of Sineng Electric declared, "The Karavasta Solar Project is acting as a driving force behind the significant expansion of local energy sources Sineng stands honored to be chosen by Voltalia and be part of this transformative initiative, offering technologically superior and environmentally conscious solutions. We firmly believe that this landmark project will set a benchmark for the adoption of renewable energy in the Western Balkans "

About Sineng

Sineng Electric Co , Ltd is the global leading supplier of a comprehensive product portfolio including PV inverters and energy storage systems for utility-scale, commercial & industrial, and residential applications.

By establishing four R&D centers and leveraging top-notch resources, Sineng's unwavering commitment to technological innovation has enabled more people to access cost-effective, reliable, and sustainable energy. After the three global manufacturing bases being put into operation, the annual production capacity can now reach 40GW Known for the engineering excellence, rigorous testing standards, and consistent quality, Sineng is a market leader in the industry and ranks Top 8 in the global PV inverter market share.

Providing a wide range of solutions and services across the globe, Sineng is playing an important role in accelerating the global energy transition, striving to build a greener future

About Voltalia

Voltalia is an international player in the renewable energy sector The Group produces and sells electricity generated from wind, solar, hydraulic, biomass and storage facilities that it owns and operates. Voltalia has generating capacity in operation and under construction of more than 2,7 GW and a portfolio of projects under development representing a total capacity of 14,2 GW

Voltalia is also a service provider and supports its investor clients in renewable energy projects during all phases, from design to operation and maintenance. As a pioneer in the corporate market, Voltalia provides a global offer to private companies, ranging from the supply of green electricity and energy efficiency services to the local production of their own electricity.

The Group has more than 1,550 employees and is present in 20 countries on 3 continents and is able to act worldwide on behalf of its clients

Voltalia is listed on the regulated market of Euronext Paris, compartment B (FR0011995588 – VLTSA) and is part of the Enternext Tech 40 and CAC Mid & Small indices. The Group is also included in the Gaia-Index, an index for socially responsible midcaps

Jesse Lau

Head of APAC & MEA Region, SOFAR

SOFAR's Strategic Approach to Inverter Success in the Indian Solar Market

CONVERSATION HIGHLIGHTS

Successful SOFAR inverter launch in India involves careful planning, adaptation, and effective execution

SOFAR is a trusted partner, providing high-quality inverters globally

SOFAR uses innovation and partnerships to penetrate the Indian market

Can you outline your strategy for successfully launching SOFAR inverters in the Indian market?

Launching SOFAR inverters successfully in the Indian market involves careful planning, market analysis, product adaptation, strategic positioning, marketing, branding & digital marketing, and effective execution

Speaking of the Indian market, C&I and utility sector have always been our focus. By H1 2023, our shipment to India has reached over 2 5GW Meanwhile, driven by the optimistic expectation of upcoming C&I and small-scale utility applications, we also introduced the brand-new 100125KTL-G4 to local customers

How do you position SOFAR's products uniquely?

We offer one of the broadest portfolios of PV and energy storage solutions for residential, C&I, and utility applications, including micro inverter systems, PV inverters ranging from 1–350 kW, hybrid inverters ranging from 3–125 kW, battery storage systems, utility ESS and SOFAR Monitor smart energy management system

Since the beginning, we have always focused on improving product reliability and being innovative with independent R&D. SOFAR has been able to establish itself as a trusted and reliable partner in the industry, providing high-quality inverter meet the

unique needs of customers in both India and across the globe. Recently we also finished the first stage of our new production base which is designed for the net-zero future These facilities boast cutting-edge technologies in robotization and automation, which ensure top quality products

How do you intend to penetrate different segments of the Indian market, such as residential, commercial, and industrial, with SOFAR's solar inverters?

SOFAR adopts both an active approach is new product innovation by R&D and a passive approach to market entry, both of which play a significant role in penetrating the Indian market

The result of ten years of exploration and independent R&D, SOFAR has won recognition from industry partners since its entry into the Indian market. During the Powering Forward New Product Launch, SOFAR signed MoUs with different partners in India's prevailing presence in the PV market.

In the meantime, SOFAR has launched another new product 320kW string inverter PowerMega tailored for utility PV. This highcurrent inverter made an impressive debut at SNEC by solving traditional sore points and combining efficiency, safety, and userfriendly all in one With a max efficiency up to 99 05% and 20A input current per MPPT, the inverter is compatible with 210/182mm modules and enables higher power yields. Featuring IP66 and C5-M anti-corrosion, it manages to survive harsh environments with a wide range of working temperatures from -30℃ to 60℃. In addition, it supports IV scanning which allows to pinpointing faulty strings thus maintaining stable operation around the clock.Top of Form

How do you plan to navigate these challenges and ensure a smooth distribution and installation process for SOFAR's products?

Providing comprehensive installation manuals and training materials to both distributors and installers is crucial This ensures that everyone involved understands the proper installation procedures, reducing the likelihood of errors or complications Quality control implement strict quality control measures to ensure that the products leaving the manufacturing facility are in optimal condition This minimizes the chances of defects that could lead to issues during installation or use

Partner selection is important for choosing reliable distribution partners who have experience in handling similar products Partners with a solid track record in product distribution and installation can significantly contribute to a smooth process

SOFAR has been expanding its product portfolio beyond solar inverters. What are your views on the energy storage technology, cost, trends etc.?

We’ve been offering all-scenario energy storage solution with various rating PCS, including the utility ESS PowerMaster and C&I ESS PowerIn.

There is great potential in the storage segment and that is why so many inverter players have entered this field. Storage options have now been applied to many different scenarios including utility, C&I and residential projects For large-scale PV stations, storage can help shave peaks and improve power quality For C&I projects, it can improve off-grid utilization Storage technologies will allow for more reliable and flexible operation of the electricity distribution and transmission grids, enhancing electric power quality and making renewable energy userfriendly.

Policy fillip for C&I rooftop solar a must for India’s renewable energy growth story

VIBHUTI GARG

DIRECTOR

South Asia-Institute for Energy Economics and Financial Analysis

While India missed its target of 40 gigawatts (GW) of rooftop solar by 2022 by a big margin, the tides are changing, and capacity addition has gathered a strong momentum. The country saw the addition of 2GW of rooftop solar between April and July 2023 alone, with the expectation of 4GW installation in the fiscal year (FY) 2024.

With the growth in capacity additions, as of July 2023, the cumulative installed capacity of rooftop solar in India was 10.9GW, constituting 15% of India’s total solar installations. Commercial and industrial (C&I) consumers added the bulk (~66%) of rooftop solar capacity, while the remaining (34%) comes from residential and government buildings

The central government and various state governments have announced several new initiatives and policies in the last two years that will impact the next growth phase of India’s rooftop solar market. This includes the Grid-Connected Rooftop Solar Programme, which has been extended until March 2026, net metering limits revised from 10 kilowatt (kW) to 500kW in June 2021, and some state-level policies like the removal of sanctioned load limits in Gujarat.

States that have favourable policies have had more success in rooftop solar installations. The key drivers are conducive net metering policies, ease of regulatory approvals and potential monetary savings for a C&I consumer

According to an IEEFA-JMK Research report, states like Gujarat, Andhra Pradesh, Telangana, and the union territory of Delhi rank high on the state attractiveness index with the most favourable

ecosystems for setting up rooftop solar On the other hand, states like Tamil Nadu and Uttar Pradesh continue to discourage their high-paying C&I consumers from shifting to rooftop solar-based solutions They have withdrawn the net metering provision for C&I consumers, allowing only a net billing mechanism Further, Tamil Nadu and Maharashtra have imposed additional grid charges.

Frequently changing regulations and the imposition of new charges create uncertainty among investors about the long-term profitability of these projects, creating restrictive measures for rooftop solar projects in the C&I sector

While non-tariff barriers like the Approved List of Module Manufacturers (ALMM) maintain quality assurance and drive more Indian domestic manufacturing, there is a significant demand-supply gap affecting the growth of the rooftop solar C&I market. From 1 April 2022, the imposition of Basic Customs Duty (BCD) has impacted the pricing and economic viability of the projects, thus acting as a tariff barrier

Policymakers should look at uniform regulatory provisions across states These avoid ambiguity and give developers more confidence to build rooftop solar projects across different states A separate renewable purchase obligation for rooftop solar by electricity distribution companies (DISCOMs) can also help. There needs to be strict enforcement of solar procurement targets to allow state and central regulators to facilitate the adoption of rooftop solutions, especially by micro, small and medium enterprises Finally, investors' interest in rooftop solar projects will flourish if regulators provide the right business models that bring down the payback period

A clear policy guideline and continuity of the policies can accelerate the deployment of rooftop solar among C&I consumers With the right policies and support, it is possible to unlock the massive potential of rooftops across India.

Mr. Punit Mehta

Co-founder and Director, PIXON

PIXON's Commitment to Quality, Reliability, and Sustainability in Solar Module Manufacturing

CONVERSATION HIGHLIGHTS

PIXON's solar progress is powered by tech innovation

PIXON is not only shaping the future of renewable energy but also illuminating the path towards a more sustainable world

We're set to boost solar power with innovation and sustainability.

In what ways does PIXON's product showcase emphasize the company's commitment to quality, reliability, and sustainability in its manufacturing process and products?

PIXON's commitment to quality is unwavering, each solar module manufactured undergoes rigorous testing and quality control measures to ensure peak performance and long-term reliability By adhering to industry standards and utilizing cutting-edge manufacturing techniques, PIXON is setting a benchmark for solar module excellence

Our modules showcase exemplifies our dedication to quality by featuring solar modules crafted from premium materials, each carefully selected for their durability, efficiency, and longevity From high-grade solar cells to robust frames, we ensure that every component reflects our unwavering commitment to producing top-notch solar solutions

Our state-of-the-art 1 GW European manufacturing process incorporates rigorous quality control measures at every stage Our product showcase emphasizes how we implement comprehensive testing procedures, including performance testing a d h idi sure, to

guarantee that our solar modules deliver exceptional performance over their entire life span.

We proudly display the certifications and standards that our products adhere to. This includes certifications for performance, safety, and sustainability, underscoring our dedication to meeting and exceeding industry benchmarks

We generally maintain the decorum of different policies and administrative aspects relating to the Quality of items like BIS and ALMM. Everyone of our items is made thinking about public norms, yet in addition, fulfilling the worldwide standards The ALMM probably won't show direct advantages to production segments, yet would have backhanded advantages to manage the standard of modules getting installed in solar power plants in India.

PIXON's product showcase is a testament to our unyielding commitment to producing solar modules that exemplify quality, reliability, and sustainability. By showcasing these core values, we aim to inspire confidence in our customers, partners, and stakeholders, reaffirming our position as a leading solar module manufacturing company dedicated to a brighter and more sustainable future

How does PIXON ensure that its solar modules comply with the relevant industry standards and certifications required in the India/Asia Pacific/Australia region?

With reference to our Market, we ensure our solar modules comply with relevant industry standards and certifications We follow a rigorous process to guarantee the quality, performance, and safety of our solar modules

We begin by identifying the specific industry standards and certifications that are mandatory or recommended for the target region These may include certifications from organizations like the Bureau of Indian Standards (BIS), International Electro technical Commission (IEC), International Organization for Standardization (ISO), and relevant local regulatory bodies.

Our solar modules are designed and developed with these standards and certifications in mind from the very beginning This includes the selection of materials, manufacturing processes, and quality control measures that align with the requirements of the standards

We conduct thorough testing throughout the manufacturing process to ensure that our solar modules meet or exceed the necessary industry standards To maintain consistency and compliance, we regularly undergo factory audits by certification agencies These audits assess our manufacturing processes, quality control procedures, and documentation to ensure that our modules continue to meet the required standards

Our dedication to quality, safety, and sustainability is at the core of everything we do.

PIXON's commitment to quality shines through in every facet of our product showcase, reflecting our unwavering dedication to manufacturing excellence.

What role does technological innovation play in the continuous improvement of PIXON's solar products, especially PV panels, and how does the company stay ahead in the competitive market?

At PIXON, technological innovation is at the core of our mission to deliver highperformance and sustainable solar modules, particularly photovoltaic (PV) panels

We have recently expanded our manufacturing line to 1 GW The company anticipates additional developments in its supply chain throughout India as a result of its Multi-Busbar and Topcon production lines.

PIXON has already set landmarks and is consistently delivering efficient solar energy solutions to attain new heights Both the Multibusbar and Topcon technologies are supported with our current and running infrastructure

PIXON envisions to globally providing efficient solar energy products and solutions Thus, contributing and enhancing Global Climate Sustainability. By focusing on efficiency, durability, sustainability, cost competitiveness, and market insights, PIXON ensures its position as a leading player in the competitive solar market

Can you provide insights into any upcoming product launches or innovations that PIXON has planned, and how they aim to address specific market demands and trends?

PIXON's 1 GW expansion and adoption of multi-Busbar solar modules mark an exciting chapter in the renewable energy revolution. With our innovative technology and commitment to sustainability, PIXON is well-positioned to drive the widespread adoption of solar power. By delivering high-efficiency modules with enhanced performance and reliability PIXON is empowering individuals, businesses, and communities to embrace clean energy and contribute to a mor et

PIXON's decision to invest in a state-of-theart 1 GW manufacturing facility for MBB modules demonstrates its commitment to driving innovation and meeting the evergrowing demand for solar energy solutions Our new manufacturing line will be capable of manufacturing M6, M10, and M12 modules, offering power output of up to 600 Wp and an efficiency rate of 21 20% This monumental facility will be equipped with the latest automated European Technology manufacturing, advanced quality control systems, and meticulous testing protocols to ensure the delivery of superior products to its customer base

How does PIXON's product showcase reflect the company's commitment to sustainability and its efforts to promote the adoption of clean energy solutions in the region?

At PIXON, our product offerings stand as a testament to our core values and our determination to create a brighter and greener future for all

Our solar modules are crafted using the latest advancements in solar technology, ensuring maximum energy efficiency and performance By continuously investing in research and development, we aim to push the boundaries of what solar energy can achieve, allowing our customers to harness clean energy more effectively

PIXON places a strong emphasis on sustainable manufacturing practices Through responsible sourcing of materials, reduced energy consumption, and stringent quality controls, we strive to leave a minimal carbon footprint while delivering top-notch products.

We understand that each region's energy needs vary Our product offerings include a diverse range of solar modules tailored to different environmental conditions and energy requirements. By providing customized solutions, we ensure optimal energy generation and utilization

Through our latest innovative technology & expansion we are actively contributing to a greener future for the world. We believe that by leading with integrity, innovation, and a profound sense of responsibility, we can inspire others to join us on the journey towards a more sustainable and harmonious world

What role does PIXON see itself playing in supporting the growth of the solar industry in India and how does the company plan to contribute to the region's renewable energy targets?

PIXON's groundbreaking 1 GW manufacturing facility is a testament to our unwavering dedication to revolutionize the solar energy industry With the production of multibusbar modules, PIXON is propelling solar power generation to new heights of efficiency, performance, and sustainability

As the world increasingly embraces clean energy solutions, our expansion sets the stage for a future powered by renewable sources. Through our commitment to innovation and the pursuit of excellence, PIXON is driving the transition towards a cleaner, more sustainable planet while delivering reliable and cost-effective solar solutions to meet the world

PIXON is enabling homeowners, businesses, and communities worldwide to harness the power of the sun more efficiently, ultimately driving down the cost of solar power PIXON is driving the transition towards a cleaner, more sustainable planet while delivering reliable and cost-effective solar solutions to meet the world

PIXON is not only shaping the future of renewable energy but also illuminating the path towards a more sustainable world As the world seeks cleaner energy solutions, PIXON stands ready to lead the way with its exceptional solar modules

Empowering Solar Solutions: Welcoming Accura Resources to GoodWe Family in India

24th August’23, New Delhi-India

We are thrilled to announce a dynamic addition to GoodWe Family– Accura Resources, a fast-growing name in Solar Energy Solutions offering high quality products to its customers pan India. This partnership marks a significant step forward in our commitment to bringing innovative and sustainable solar solutions to homes and businesses across India Their expertise aligns perfectly with our mission to offer cutting-edge solar inverter technology that empowers individuals and communities to harness the power of the sun for a greener future

"We are excited to welcome Accura Resources to our network of authorized distributors," said Mr. James Hou, Country Head, GoodWe "Their deep understanding of the solar industry and their commitment to excellence resonate well with our values Together, we will expand the reach of our solar inverters, making clean energy more accessible than ever before."

This partnership comes at a time when the demand for renewable energy solutions is constantly on the rise in India. With a focus on sustainable development and reducing carbon footprints, both GoodWe and Accura Resources are poised to address the energy challenges of today and tomorrow

Headquartered in Ahmedabad, Accura’s extensive network and market knowledge will serve as a valuable asset as we strive to enhance our customers' experience and provide tailored solar solutions that meet the unique requirements of diverse solar projects This collaboration is not only a testimony to our mutual growth but also a promise to elevate the solar energy landscape in India

"Our team is excited to embark on this journey with GoodWe” said Mr Karan Dangayach, CEO of Accura Resources "We believe that by combining our strengths, we can make a meaningful impact on the adoption of solar energy. Our shared vision for a sustainable future makes this partnership a natural fit "

Accura will be offering GoodWe’s comprehensive range of solar inverters, renowned for their efficiency, durability, and advanced technology With this collaboration, customers in India can look forward to an expanded portfolio of solar solutions backed by the combined expertise of two industry leaders

About GoodWe

GoodWe is a world-leading PV inverter manufacturer and smart energy solution provider listed on Shanghai Stock Exchange (Stock Code: 688390) The company has more than 4,600 employees worldwide and has a track record of over 52 GW of installations in over 100 countries and regions. GoodWe offers an extensive range of products and solutions tailored for residential, commercial and industrial, and utility-scale PV systems, delivering reliable and high-performance solutions across its entire portfolio. In 2021, GoodWe was recognized as one of the top three hybrid inverter suppliers worldwide by Wood Mackenzie

Connect with us:

GoodWe: sales@goodwe.com | service@goodwe.com https://en.goodwe.com/

Accura Resources:

Know more - Contact Number: +91 98250 60546

Website: www.accuraresources.co.in Email: info@accuraresources.co.in

Hosts yet another Successful Customer Meet in y d as Part of Nationwide Series

Hyderabad, Telangana, India, 1st September 2023: GoodWe proudly announces the successful culmination of its fourth customer meet in Hyderabad. As part of an ongoing series of events across various cities in India, this customer-centric initiative reinforces GoodWe’s commitment to fostering strong relationships with its valued customers and stakeholders The event was supported by Evervolt Green Energy Pvt Ltd The event, held at Radisson Hotel in Hyderabad, brought together a diverse gathering of solar enthusiasts, homeowners, businesses, and industry experts The interactive session provided attendees with the opportunity to engage directly with the GoodWe Sales, Service & Technical team, learn about the latest technological advancements, and share insights on their experiences of GoodWe products.

Mr. Kevin George, Sales Head, GoodWe South India, expressed his delight at the warm reception and enthusiastic participation from the attendees "Our customer meets are a testament to our unwavering dedication to our customers We believe that our success lies in our ability to understand and fulfil the unique requirements of each customer These events allow us to connect on a personal level and gather invaluable feedback that drives our continuous improvement” he stated

Highlights of the Hyderabad Customer Meet:

Product Showcase: Attendees had the chance to explore GoodWe’s Residential Range of Inverters XS, DNS & SDT G2 series were the most talked about and demanded inverters and special on-spot discounts were available for interested customers

Expert Insights: Industry experts and GoodWe representatives delivered insightful presentations on solar technology trends, energy optimization, and the future of solar energy in India The service presentation garnered the most attention as people were very keen to know how to enhance the efficiency of the Inverters, the do’s & don’ts of installations and getting in touch with the

team personally We also covered O&M challenges the customers were facing and gave real-time solutions to customers. Customers also huge interest in the previous case studies presented as it gave them a chance to learn deeply about the best maintenance practices

One-on-One Consultations: Attendees had exclusive access to one-on-one consultations with GoodWe technical experts, addressing their queries

Networking Opportunities: The event facilitated networking among solar enthusiasts, homeowners, businesses, and professionals, fostering a community of like-minded individuals passionate about sustainable energy solutions.

GoodWe’s commitment to sustainable energy and customer satisfaction has fuelled its growth as a leading player in the solar industry. By engaging directly with customers and understanding their evolving needs, the company continues to innovate and deliver cutting-edge solutions There’s lot to look forward from the house of GoodWe soon!

About GoodWe

GoodWe is a world-leading PV inverter manufacturer and smart energy solution provider listed on Shanghai Stock Exchange (Stock Code: 688390). The company has more than 4,600 employees worldwide and has a track record of over 52 GW of installations in over 100 countries and regions GoodWe offers an extensive range of products and solutions tailored for residential, commercial and industrial, and utility-scale PV systems, delivering reliable and high-performance solutions across its entire portfolio In 2021, GoodWe was recognized as one of the top three hybrid inverter suppliers worldwide by Wood Mackenzie For more information, please visit goodwe com

www.goodwe.com

As we stand at the threshold of a future powered by sustainable energy, GoodWe's journey to excellence is uniquely characterized by the voices of our customers. Hyderabad's event echoed with enthusiastic voices, each contributing to the symphony of ideas that will sha f solar energy.

Sandesh Shetty

Vice President, Sales Waaree Group

Waaree Energies' Commitment to Clean Energy: A Path to a Greener Tomorrow

CONVERSATION HIGHLIGHTS

Waaree Energies is at the forefront of the global energy transition, providing fully integrated new energy solutions Our vision is to democratize access to solar energy across India and beyond, empowering communities and contributing to a cleaner future. Waaree Experts enhances customer experience and adds value by streamlining project execution and offering maintenance support.

Could you provide an overview of Waaree's role and impact in the solar PV module supply sector, highlighting the company's unique value proposition and market presence?

Waaree Energies Ltd. is one of the world’s leading vertically integrated new energy companies, and the leading player in the solar PV module supply sector in terms of market share. We are the global frontrunner in driving the energy transition through fully integrated new energy solutions With India's module solar photovoltaic (PV) module manufacturing capacity is expected to reach 110 gigawatts (GW) by 2026, the country is expected to attain selfsufficiency and able to target the export market aggressively

Waaree has the largest solar panel manufacturing capacity outside of China, which currently stands at 12 GW We have presence in around 20 countries across the globe, having supplied 6+ GW of solar modules and commissioned 1+ GW of solar EPC projects

A notable milestone for Waaree Energies Ltd was the signing of the first utility contract in India Utility contracts demand the highest quality standards, as they involve risks with high-potential electricity, which necessitates in-line inspections right down to the level of raw materials used in manufacturing Our ability to deliver on these expectations is testament to our robust product quality and leadership in the sector

How does Waaree differentiate itself from other solar PV module suppliers in terms of product quality, innovation, and customer satisfaction?

Ensuring high standards of product quality is one of our key differentiators at Waaree Energies Ltd Rigorous testing of our products at our NABL-accredited laboratory, as well as progressive improvements, enables us to deliver on this expectation of quality assurance, and build credibility among our customers

We are the sole Indian PV module manufacturer to have continuously maintained our status as a ‘Tier 1 Solar Module Manufacturer’, as per the Bloomberg New Energy Finance (BNEF) report, every quarter for 35 quarters This resounding endorsement of our product’s reliability and trustworthiness has enabled

us to successfully penetrate global markets Achieving ‘Tier 1’ status quarteron-quarter is only possible by ensuring the best quality and highest efficiency levels for modules, as well as consistently delivering customer satisfaction Our unyielding quality focus is reflected in the higher price points that our products command in the market compared to competitors

Additionally, at Waaree Energies Ltd., our commitment to customer satisfaction goes hand-in-hand with our dedication to product quality and innovation We understand that providing top-class customer service is an integral part of our differentiation strategy Our approach to excellence extends beyond the manufacturing process; it encompasses every interaction with our valued customers

We believe that a satisfied customer is the ultimate testament to our success, and we continuously strive to exceed their expectations. It is this unwavering commitment to customer satisfaction that has earned us a strong and loyal customer base, reinforcing our position as a leader in the solar PV module industry.

How does Waaree align its sales strategy with the broader goals of promoting clean energy and reducing carbon emissions?

By 2030, India is targeting about 500 GW of renewable energy deployment, out of which 280 GW is expected from solar PV This calls for 30 GW of solar capacity every year until 2030 Our primary objectives, aligned with our sales strategy, is to actively contribute to India's clean energy goals and the reduction of carbon emissions and work towards this goal

One of our key goals, with regard to our sales strategy, is to build closer relationships with our end-customers, so that we can be swifter, and more effective, when it comes to fulfilling their urgent requirements

Waaree has always adopted customer first approach in all its engagements which has enabled it to serve the clients actively to suffice its needs in this VUCA market

Waaree Experts is another key initiative we’ve taken to elevate customer experience It aims to enhance and streamline project execution through delivering operational and maintenance support, as well as module cleaning and site survey services

These measures serve to add value to our business as well as to the end-customer, while also providing a strong impetus to the larg f d i ing solar energy adoptio

How does Waaree envision its role in supporting the nation's transition to a cleaner energy future through solar PV module supplies?

Research & Development is central to the nation’s vision for solar manufacturing At Waaree, we work towards supporting this endeavour through our own robust R&D efforts To this end, we have added a range of innovative Next-Generation solar technology products to our repertoire including N-Type TOPCon, Bi-facial Solar Panels, HJT Solar Panels, and high-power solar modules scaling up to 650 Wp.

Our vision extends beyond mere growth, to democratizing access to solar energy even in the remotest corners of the nation. In line with this, we’ve introduced Waaree Prime, India’s first, exclusive platform rewarding solar product acquisitions Through building a 10,000+ customer community, we aim to serve as a powerful catalyst to take India’s solar energy mission to even greater heights with presence in tier 1 and two spreading its roots to remotest corners of India and exporting to more than 20 countries in the world.

Waaree Energies stands as a testament to India's prowess in solar manufacturing, with the largest solar panel manufacturing capacity outside of China.

What are your insights into the future of the solar PV module supply market in India, and how is Waaree strategically positioned to capitalise on emerging opportunities and challenges?

Solar energy used to be a luxury but has now become the need of the hour Given the increasing emphasis on sustainability, in India and across the globe, businesses across sectors are making green energy adoption a key strategic priority This trend will only be strengthened with RPOs (Renewable Purchase Orders) coming to the forefront

Amidst this transition to green energy, solar energy offers the key advantage of being decentralized, as compared to other renewable energy sources For instance, one can easily install a solar module on their rooftop The same flexibility does not exist with wind energy For this reason, as well as the tremendous potential for job creation, the government has been incentivizing the growth of the solar energy sector

While there are certainly challenges, most notably with regards to the availability of raw materials, concerted efforts by players across the solar energy ecosystem will enable India to overcome constraints and achieve our target levels of solar energy generation ahead of time

At Waaree Energies Ltd , we have a proven track record of project delivery, as evidenced by the successful execution of multiple renewable energy projects. As an integrated one-stop solution provider, with a robust nationwide network spanning multiple Tier 1, 2, and 3 cities, we are wellplaced to capitalize on these opportunities and play a leading role in India’s clean energy transition

Green Energy For Better Life,

Established in 2000, TBEA Sunoasis Co , Ltd is specialized in the research and development of intelligent equipment in photovoltaic, wind power, power electronics, energy internet, and other fields, construction and operation of power stations and provision of inverter, energy storage and flexible DC converter valve and other power electronic equipment Driven by its mission of "Green Energy for Better Life", TBEA Sunoasis makes contributions to the national carbon peak and carbon neutrality goal It has more than 10 permanent offices worldwide, with business in over 20 countries and regions, such as India, Pakistan, Brazil, Spain and the Philippines, to provide customers with integrated solutions for clean energy projects from development, investment (financing), design, construction, commissioning, operation and maintenance

In the fields of PV power generation, its independently developed full range of 8kW-9,000kW grid-connected inverters have the characteristics of high capacity ratio, high efficiency, and high reliability. They are applied in scenarios including residential use, industrial & commercial use, ground power station, desert, gobi and the wildness, and serve more than 1,000 PV power stations of various types such as fishing PV, agricultural PV and offshore PV power stations in more than 20 countries on four continents. Its products have been approved and tested by multiple domestic and foreign authorized certification and test such as CQC and CGC New National Standard, TUV, VDE, CE, G59, BDEW, SAA, UL and CEPRI High/Low Voltage Ride Through, and are among the first batch of accredited Top Runners in China's PV Field and China's Efficiency A+ Certification Its global steady operation capacity has exceeded 46GW.

In the field of power quality, because of the "Reliable Quality" of 3 3kV-35kV/1-100Mvar full range HV TSVG products, the online

operation rate of the parallel system is greater than 99% under severe conditions. Now, the global capacity of TSVG products in total exceeds 17Gvar

During the "14th Five-Year Plan" period, the Company, based on the national energy safety strategy, the core development philosophy of "Continuously providing the optimal cost per kWh", will make full use of AI, Energy Internet, Big Data, Cloud Computing, IoT and other advanced technologies in the fields of PV, wind power, microgrid, energy storage, multiple energy complement complementation, industrial & commercial and residential distributed energy and other clean energy fields, to continuously deepen exchanges and cooperation with the entire industry chain. In addition, relied on the advanced technology, quality products and reliable services, the Company will provide customers with the life-cycle green and intelligent solutions ranging from development, investment and financing, design, consulting, engineering services, operation, electricity sales and green intelligent products Let's gather strength to contribute to "Carbon peak and carbon neutrality"

With a global presence spanning over 20 countries and regions, TBEA Sunoasis offers integrated solutions for clean energy projects, from development to maintenance, to customers worldwide.

Reliable Quality in STATCOM Technology, TBEA is in the Leading Position in the World

TBEA SVG & STATCOM products are suitable for various scenarios, such as distributed PV, decentralized wind power, subway/industry, centralized PV, wind farm electrified railways, collection stations, offshore wind power booster stations, and metallurgy Among them, TSVG (1 Mar-120 Mar) products are mainly used to solve the power grid fluctuations caused by output power fluctuations and discontinuities on the power generation side, and help new power stations to better connect to the power grid system; Impulse and unbalanced load operation and other problems, improving power quality

In photovoltaic systems, TSVG can suppress the large-capacity photovoltaic grid-connected systems, which generate a large number of current and voltage harmonics when connected to low-power, weak grids. in wind power systems, TSVG can maintain the safe and stable operation of wind power gridconnected systems, Prevent voltage fluctuations caused by changes in fan output, and improve the stability of the power system In the industrial market, it can meet reactive power compensation and effectively control harmonics At the same time, regardless of wind power or photovoltaic systems, TSVG can reduce reactive power flow, reduce line current, and reduce losses TSVG can also provide reactive power to the grid system to support the grid voltage

Low loss: frequency conversion modulation technology, dynamic adjustment of heat dissipation power;

Quick response: DSP+FPGA control framework, 200M basic frequency;

The lead time of standard products is about 45 days;

As of 2022, the cumulative shipments will be 17 2 Gvar

Control system: integrated control of voltage and reactive power, integrated control of voltage and power factor;

High reliability: online intelligent redundancy technology, IGBT temperature monitoring, Optocoupler isolation drive technology, and strong environmental adaptability;

STATCOM products mainly solve problems such as power grid fluctuations and abnormalities in power transmission and transformation collection stations, as well as UHV DC converter stations Our company STATCOM converter valve and grid side flexible DC converter valve are developed on a common technological platform At present ， our grid side “±800kV/3000MW” flexible DC converter valve has been in operation for more than two years, there have been no black module or system tripping problems, and the failure rate is less than 0 5% The main advantages of STATCOM application are:

fast dynamic response of reactive power output, which can suppress voltage fluctuations more efficiently at the same time, it has harmonic suppression capability, filters out specific subharmonics, and improves the safety and stability of power grid operation

In the field of power quality, because of the "Reliable Quality" of 3 3kV-35kV/1-100Mvar full range HV TSVG products, the online operation rate of the parallel system is greater than 99% under severe conditions Now, the global capacity of TSVG products in total exceeds 17Gvar, TBEA are in the leading position in the world.

The main advantages of our TSVG are

Priyank Patel

Co-founder URON OMS LLP

Navigating Risk and Uncertainty in Solar Asset Management: Uron OMS' Perspective

CONVERSATION HIGHLIGHTS

Our top priority is establishing a solid foundation through rigorous assessments and safety compliance We're committed to overcoming challenges for a sustainable solar industry in India

Our innovation is driven by a larger purpose: a sustainable, renewable energy future

How do you ensure effective asset management of solar plants to maximize their performance and efficiency in the Indian market?

At Uron OMS, our approach to every project site is characterized by a commitment to treating it as if it were our own, regardless of its origin Our foremost priority is to establish a solid foundation by rigorously assessing project fundamentals and ensuring strict adherence to safety compliance standards Only after this critical groundwork is laid do we delve into addressing specific pain points

Once we've gathered comprehensive data, we gain a clear understanding of expected outcomes and precisely identify the focal areas for asset maintenance Our overarching objective is to drive solar asset management towards optimal performance and efficiency To achieve this, we harness the power of advanced data analytics, pinpointing performance anomalies and fine-tuning solar assets accordingly

Our dedicated team of professionals conducts regular monitoring, performance analysis, equipment cleaning, and inspections. They proactively implement preventive maintenance programs, conduct routine equipment assessments, and actively intercep ipment failures before t ostly downtime

Recognizing that knowledge is key to successful management, we heavily invest in the training and skill development of our maintenance team. This ensures that they possess the necessary knowledge and expertise to oversee solar assets effectively and identify potential issues at their inception.

Furthermore, we are committed to transparency and collaboration with our clients We furnish them with comprehensive reports detailing the performance and efficiency of their solar assets. These reports empower our clients to make informed decisions regarding maintenance, upgrades, or expansions, enabling them to further enhance the overall performance of their solar investments At Uron OMS, our mission is to not only manage solar assets effectively but also to be a trusted partner in our clients' sustainable energy journey

What are some of the key challenges you have encountered in asset management of solar plants in India's commercial and industrial sectors, and how do you address them?

India has emerged as a prominent player in the solar sector, with widespread adoption in both the commercial and industrial segments, as well as large-scale utility projects, serving as a testament to this growth However, with rapid development often comes the risk of oversight and subpar workmanship, leading to low-quality projects. At Uron OMS, we recognize this challenge as one of the sector's most significant, as the overall health of the solar industry can be jeopardized by poorly installed or inadequately maintained projects It is our duty to ensure the creation and management of projects that remain sustainable throughout their operational lifespans

Several key challenges, in our view, threaten the industry's growth These include dealing with aging infrastructure, intricate system integration, and enhancing operational efficiency

Managing aging solar infrastructure, which may feature outdated technology or components, presents a major challenge To address this, we undertake comprehensive assessments of existing assets and develop retrofit plans to upgrade and modernize the infrastructure This approach not only guarantees optimal performance but also extends the longevity of the solar assets, making them more sustainable in the long run.

In the industrial sector, solar assets often require integration with pre-existing energy systems, such as backup generators or grid connections This integration can be highly intricate and necessitates careful planning and expertise. Our response to this challenge involves tapping into our experienced team specializing in system integration We conduct in-depth analyses and design tailored solutions to ensure the seamless incorporation of solar assets with existing energy systems

Industrial solar assets, by their nature, tend to be more complex To tackle this complexity, we implement advanced monitoring and control systems. These systems facilitate real-time performance monitoring, early fault detection, and remote asset management, all of which contribute to the efficient operation and maintenance of these intricate solar installations

At Uron OMS, our commitment extends beyond merely participating in the solar revolution; we are dedicated to overcoming these challenges to ensure the continued success and sustainability of the solar industry in India

As URON OMS LLP plans for international expansion, what strategies do you have in place to adapt your asset management approach to different markets?

At our organization, we adopt a universal approach and standardized protocols for managing solar projects, whether they are situated in India or on the international stage. Our philosophy hinges on the belief that every solar asset is akin to embarking on a new project, and this perspective remains consistent irrespective of geographical location. We understand that solar technology and products exhibit uniformity across global borders, making location distinctions irrelevant

In alignment with this commitment to consistency and quality, we rigorously adhere to the Indian Standards and the International Electrotechnical Commission (IEC) International standards, which serve as the foundation for most national standards worldwide. This approach ensures that our projects meet the highest standards of quality and reliability, regardless of where they are located.

Our track record includes the successful execution of projects beyond India's borders, providing us with valuable experience in handling and maintaining solar assets internationally. We remain steadfast in our commitment to compliance with various safety and Health, Safety, and Environment (HSE) standards, which serve as essential guidelines for the responsible management of assets on the global stage

Currently, our strategic focus is directed towards the South East Asian and Middle East regions, where we aim to further expand our presence and impact In pursuit of this objective, we are actively exploring strategic partnerships and collaborations. We view these alliances as pivotal in facilitating our expansion plans while maintaining the same unwavering commitment to excellence that defines our approach to solar asset management.

What role does technological innovation play in your approach to solar asset management, and how do you leverage emerging technologies for better outcom

As an asset management company, our sphere of operation often encompasses plants that may be underperforming or newly commissioned by our clients Our innovation lies in the value additions we introduce to enhance these assets We take great pride in our track record, as we have successfully transformed underperforming assets into topperforming ones within just a year of management.

Our distinctive approach is built on clearcut design requirements that afford us the flexibility to focus on specific areas efficiently Continuous communication with our clients is a cornerstone of our strategy, setting us apart from conventional asset management companies We believe that true innovation begins once we've addressed any existing issues and brought the plant up to its committed performance levels

At Uron OMS, we emphasize the use of Waterless Cleaning Robots as a predominant method This choice not only conserves water resources but also enhances the warranty and performance of PV modules, while delivering several other benefits related to solar assets and ensuring the safety of our workforce. This approach aligns with our commitment to sustainability, as we recognize the impending global challenge of water scarcity alongside the existing energy shortage

In our vision for a better world, we strive to maximize energy extraction from renewable sources while minimizing our impact on vital natural resources like water. Through our comprehensive maintenance plans and minimal resource consumption, we are actively contributing to a more sustainable future. At Uron OMS, our innovation and commitment to excellence are driven by a larger purpose – creating a world where renewable energy thrives, and environmental harmony is preserved

How do you address potential risks and uncertainties associated with managing solar assets in different geographical locations and market conditions?

At Uron OMS, we place a premium on remaining fully abreast of the everevolving regulations and policies governing solar energy across diverse

regions and countries We recognize that shifts in government incentives, alterations in tariffs, or changes in grid access protocols can exert a significant impact on the profitability and operational dynamics of solar assets As such, we prioritize staying well-informed and attuned to these crucial factors, ensuring we can promptly respond to regulatory shifts

While managing solar assets, we confront a spectrum of challenges and it can be one or many when it comes to the actual execution.

The relentless progression of solar technology demands our unwavering attention As solar equipment continually advances, managing assets across various generations of technology becomes a pertinent issue. This necessitates a proactive approach to stay at the forefront of technological innovation

Solar assets are inherently vulnerable to environmental factors We recognize the potential threats posed by extreme weather events, environmental degradation, and other natural hazards Preemptive measures and risk mitigation strategies are central to our approach. Comprehending and adhering to the nuanced electricity rules and regulations in different regions is paramount These rules can significantly impact grid access, interconnection standards, and operational procedures.

Varying geographical locations may present unique logistical challenges, affecting the transport of equipment, materials, and personnel Effective logistics management is essential for smooth operations. The global supply chain's vulnerability to disruptions, as witnessed during events like the COVID-19 pandemic, underscores the importance of supply chain resilience and contingency planning.

We firmly believe that managing solar assets across diverse geographical locations and market conditions necessitates a proactive and adaptive strategy. This strategy is underpinned by meticulous planning, comprehensive risk assessments, and the judicious implementation of effective risk mitigation measures. At Uron OMS, our commitment is not only to the optimal performance of solar assets but also to the dynamic management required to thrive in the everevolving solar energy landscape.

STATISTICS MARKET

Solar Installations by State

CHARTS & GRAPH ALONG WITH RESEARCH FOR MAGAZINE (JUNE & JULY) 2023

India installed around 7 84 GW of Solar PV projects in the first seven months of the calendar year 20223 from January 2023 to July 2023 The country's total Solar PV installation crossed 71 GW by the end of July 2023 Rajasthan installed over 18 GW, there is a growth of 10 5% in 2023 from December 20233 with the installation of over 1.7 GW in the first seven months of 2023. Among the Top Solar States Maharashtra stepped one position ahead compared to their position in December 2022, while Telangana, Andhra Pradesh, and Madhya Pradesh went down and Rajasthan, Gujarat, Karnataka, and Tamil Nadu maintained their previous position in the same period. There was a growth of over 12.4% compared to the total Solar PV installations of 63.3 GW by the end of December 2022

INDIA POWER MIX

In the above pie chart, Renewable capacity additions continue to increase at a rapid pace in India, accounting for approximately 30 9% of total India’s power capacity at the end of July 2023 India’s total installed power capacity stood at over 423 GW at the end of the seventh month of the calendar year 2023 from all the sources, with renewables accounting for 130.88 GW making up 30.9%, compared to cumulative renewable energy installations of 114.43 GW at the end of July 2022, which represented a growth of around 14 4% year-over-year Solar power accounted for approximately 71 14 GW of installations, which represents 16 8% of the total installed power capacity The share of Solar power in the installation mix grew year over year to 22.72 % in July 2023 compared to the same period in 2022. Among the renewable, Wind and Solar constitute around 87 9% of the total renewable, Wind Power installed capacity at the end of July in the Calendar Year 2023 was around 43 94 GW, which represents 10.4% of the total power capacity installed.

INDIA RENEWABLE MIX

SOURCE: MNRE

SOURCE:CEA,SOLARQUARTERRESEARCH

SOLARQUARTER RESEARCH

Rajasthan Telangana Karnataka Maharashtra Gujarat Andhra Pradesh Tamil Nadu Madhya Pradesh Uttar Pradesh Punjab

MARKET STATISTICS

Total renewable energy generations in June 2023 reached 22,602 58 million units, there is a growth of RE generations by around 16% year-overyear from June 2022, where the RE generations were 19,496.96 million units Solar Power generation has been increasing by around 16% year-overyear from June 2023 (9,607 58 million units) to June 2022 (8,259 91 million units), Wind Power generation has increased by almost 3% in the same period and reached 11,557.77 million units in June 2023

Electricity Market

MARKET STATISTICS

In the calendar year 2023, 59,698 million units (MU) of total volume from January to July were traded in IEX (Indian Energy Exchange) which shows a year-over-year growth of 3 63% compared to the January to July traded volume of 57,605 million units in the calendar year 2022 The monthly traded volume shows the highest in April in the first seven months of calendar 2023.

Indian Energy Exchange, India’s premier energy exchange, achieved 8,522 MU overall volume in July 2023, including green market trade of 275 MU, 6 24 Lac RECs (equivalent to 624 MU) and 70,222 ESCerts (equivalent to 70 MU) The overall volume traded during the month increased 19% on a YoY basis. The price during July ‘23 was ₹4.55/unit, lower 16% YoY, due to improved sell-side liquidity on the Exchange platform

SECI MONTHLY PAYMENT TO SOLAR/WIND POWER GENERATORS IN 2021-22

Solar Energy Corporation of India (SECI) paid ₹57 46 billion (~$694 47 billion) to Solar and Wind developers for power purchased in the calendar of 2023 till June The disbursed amount was highest in June in the calendar year 2023 There have been many ups and downs in the payment to generators since 2022 as shown in the above chart In the financial year 202223, the highest and lowest payments were made in July and December (lower due to lower wind speeds, and winter months across India) While SECI paid ₹30 81 billion for the purchase of Solar and wind in the first quarter of the financial year 2023-24. The payments made to power generators such as wind and solar were quite high in the second half compared to the first half of the financial year 2022-23.

SOURCE:SOLARQUARTERRESEARCH

BIDDINGDETAILS

After the imposition of BCD on Solar PV modules and Cells, the tariff rate of Solar auctions has seen many ups and downs Other factors for the increase in tariff rate are the exchange rate fluctuation along with the ongoing war between Russia and Ukraine However, the relief for the developers is that the government is extending the commissioning due date due to ongoing disruption in the solar supply chain. There are also major reasons such as improved technology, competitive bidding, regional variation, and larger-scale projects. Policy changes, viabilit d interest in floating solar also influence rates, with long-term contracts securing stability.

generate their electricity and rely less on the established centralized system Rooftop Solar’s scalability is among its most remarkable benefits Rooftops offer unused real estate that can be used for the production of sustainable energy on everything from residential structures to business and industrial complexes. The country's installed solar PV capacity has surpassed 71 GW, with rooftop solar accounting for 10 8 GW of that total

Through several regulatory efforts and financial incentives, the Indian government has been instrumental in fostering the adoption of rooftop solar power. The "Sustainable Rooftop Implementation for Solar Transfiguration of India" (SRISTI) project, which provides financial assistance to both residential and commercial clients, later improved the program, and net-metering policy upto 500 kW

Rooftop solar systems provide financial advantages through net metering in addition to helping to reduce carbon emissions. When extra electricity is produced, it can be released back into the grid, giving users credits to lower their energy costs In addition to giving solar system owners a return on their investment, this lightens the load on the grid during periods of high demand

While community solar projects are gaining traction as an innovative way to make solar energy accessible to a larger portion of the population, rooftop solar is becoming more and more popular with individual customers and companies These initiatives entail the creation of larger solar systems that are shared by numerous participants, some of whom might not have rooftops that are appropriate for solar panels

By making solar energy accessible to renters, low-income families, and people with shading problems, community solar projects foster diversity A portion of the solar installation's capacity can be bought or leased by participants, and they will get credit on their electricity bills for the energy generated This concept not only makes solar energy more accessible but also encourages civic eng nse of ownership

SOURCE:MNRE

SOLARQUARTERRESEARCH

Although distributed solar is growing in India, there are still some obstacles to overcome. The initial cost of solar installation is one of the main barriers. Despite falling solar panel costs, many consumers may still find the initial outlay prohibitive Government incentives, subsidies, and advantageous financing choices must continue to address the issue

The technological and administrative complexity of integrating dispersed solar into the current grid infrastructure presents another difficulty. As extra energy from rooftop installations is fed back into the grid, grid management must be modified to handle bidirectional power flow. To guarantee seamless integration, smart grid technology, enhanced metering systems, and regulatory reforms are necessary

Furthermore, continuous monitoring and maintenance are necessary to maintain the effectiveness and performance of distributed solar systems To address this issue, the solar business has to educate consumers and cultivate trained workers.

In conclusion, the expansion of community solar projects and rooftop installations in India is a huge step towards a cleaner and more sustainable energy future With the help of these decentralized models, customers may take charge of their energy production, cut carbon emissions, and improve everyone's access to energy. To overcome obstacles and realize the full potential of distributed solar in India, government backing, technology improvements, and public-private partnerships will be crucial. The sun shines brilliantly on the route of distributed solar as the country begins its journey toward the adoption of renewable energy sources

DISTRIBUTED SOLAR: A LOOK AT THE RISE OF DECENTRALIZED SOLAR, ROOFTOP INSTALLATIONS, AND COMMUNITY SOLAR PROJECTS IN INDIA

Sunay Shah

Director- Projects, Navitas Solar Navitas Solar's Commitment to Quality and Innovation in EPC Projects

Navitas Solar is an integrated company manufacturing Solar Modules and Solar components like Encapsulants and Backsheets

CONVERSATION HIGHLIGHTS What are the major problems and expectations that customers have from the players of this segment? How do you strategize to meet those?

The major factors driving the growth of EPC sectors are the increasing cost of electricity, skilled labor availability, societal awareness, etc

Navitas Solar ties experts from different fields into a thread, and a very strong and efficient team is made

How does Navitas Solar see the solar EPC market developing in India? What are the major factors that have been driving the market’s growth?

The way EPC has evolved in the past few years is unbelievable. The major factors driving the growth of EPC sectors are the increasing cost of electricity, skilled labour availability, societal awareness etc Moreover, system designs have become optimized lowering the overall cost Streamlined supply chains have also led to the timely and efficient execution of projects. Additionally, transparent national and state level policies have opened new opportunities for residential, commercial and industrial sectors Green Energy open Access is also allowed to any consumer with load limit to 100 kW The Energy Conservation Bill is passed which amends the Energy Conservation Act, 2001 to empower the central government by encouraging use of non-fossil energy

The major expectations of customers from EPC companies are transparent deals, optimum output from installed solar projects, long-term maintenance, prompt after-sale service and obviously reduction in electricity bills We have dedicated and separate teams for rooftop and groundmount projects, as both the segments are different Being part of a group of companies that are five (5) decades old, understanding with state DISCOMs and TRANSCOs becomes easy for us As we have our own solar module manufacturing facility, it becomes an added advantage for the customers as they have the same vendor both for EPC and for Panels Navitas Solar ties experts from different fields and into a thread and a very strong and efficient team is made Our team takes care of customers’ requirements and accordingly we plan the activities In the team, each person knows their tasks specifically, they perform their roles phenomenally, and that is how the team successfully completes a project

How is Navitas Solar positioned in the solar EPC market?

Navitas Solar being in the Solar PV modules manufacturing enterprise with it is all range of Polycrystalline and Mono PERC modules, additionally it has a strong footprint in EPC sector as well With the execution ride proper from the minimal Solar PV capability of 5 kW to Megawatt scale projects, Navitas has established more than 25 MW EPC projects in PAN India Having its EPC crew in Gujarat and Maharashtra, Navitas is actively engaged with the Residential, commercial and industrial projects, be it ground mount or rooftop!

To point out few major projects of EPC sector 2022, 352 kW Industrial rooftop, 402 kW Solar plant at JFE Shoji Steel India Ltd., Maharashtra, 4MW in-house Captive Solar Park at Kalpataru Global Alloys, Andhra Pradesh , 1 4 MW at Sumicot Ltd Bharuch and many more. With this Navitas has left a terrific mark with putting a degree up in optimum designs, quality assurance and best economic solutions to the client. We want to focus on large-scale supply, residential solar financing, and retail EPC segments up to 10 MW single projects for which there is niche market

Can you discuss Navitas Solar's approach to quality control, including the selection of materials, equipment, and construction practices?

Navitas Solar’s approach to quality control including the selection of the material, equipment is unique We are working with the vendors who can provide the best quality materials only In quality, we do not compromise at all. The major differentiating factor that set Navitas Solar apart from other players in this segment is that Navitas Solar is an integrated company manufacturing raw materials, solar panels and has tie ups with inverters, batteries and other key material manufacturers The synergy between these teams leads to quality products, prompt after-sale service, optimum and precise design, wellequipped contractors, timely project execution. We are backed by a very strong in-house QA and QC lab. We also have technically sound QA & QC team as well as R&D team that are continuously dedicated towards ality.

How does Navitas Solar incorporate energy storage technologies into its EPC projects to provide comprehensive and reliable renewable energy solutions?

Navitas Solar is exploring options to incorporate new technologies into EPC projects to provide reliable renewable energy solutions Solar Wind- Hybrid technologies, agrivoltaics, large-scale solar parks, solar with battery storage are some of the few examples To install ground mount solar plant, a huge amount of land is required, sometimes fertile land is wasted due to solar installation, to overcome this issue, the solar power plant can be developed as Agrivoltaics which will allow crops to grow beneath the solar panels A major drawback of solar is its intermittent nature which lacks reliability of solar electricity and if it’s used with some of the solutions like battery storage, wind solar hybrid then Round The Clock(RTC) power can be generated with solar which is the need at many remote places Depending on the site and other factors, Navitas Solar takes the decision for the solar project accordingly

How is your combined experience helping the firm to grow?

We have a highly experienced in the house design team that uses the latest software Firstly, the feasibility study of the project is carried out and the whole project is projected on the paper. Once, the blueprint of the project is ready, the same is discussed in detail with the contractor We have hand-picked 5-7 contract agencies for whom we conduct training on a monthly basis After getting training from time to time, their team has become highly proficient in executing our designs accurately. In the training, the focus is on teaching good engineering practices and safety protocols to the contractors As a result, the overall project is executed accurately with impeccable workmanship while meeting the project timelines

Navitas Solar is an integrated company manufacturing Solar Modules and Solar components like Encapsulants and Backsheets.

Fueling the U.S. Energy Transition: Strategic Partnership Announcement Between Navitas Solar, Sustainable Equity, and Colby Solar

The U S solar photovoltaic (PV) sector has been surging over the last several years. From a cumulative capacity of 32.96 gigawatts (GW) in 2016, America’s solar industry has soared to a staggering 111 25 GW by the end of 2022, underscoring an impressive Compound Annual Growth Rate (CAGR) of 22 5% This unprecedented growth attests to an unwavering national commitment to embrace clean and sustainable energy sources

Indian-based Navitas Solar, established in 2013, celebrates a decade of achievements in the solar industry The company stands out with its backward and forward integration and is recognized among India's top 10 solar manufacturers.

Together with Sustainable Equity and Colby Solar, Navitas is poised to announce a transformative partnership in the North American solar landscape, a 1 2 GW solar manufacturing facility with growth toward 10 GW within a few years The details will be unveiled on September 13th at RE+ in Las Vegas, NV.

Las Vegas, Nevada -- August 16, 2023 -- In light of the bright solar sector outlook in the United States and multiple State-level leadership initiatives, the current market environment is better than ever One example is the State of Illinois' pioneering Clean Energy Jobs Act (CEJA) legislation This groundbreaking initiative signifies a transformative step towards a greener and more sustainable future and features strong equitable workforce development incentives for renewable energy companies in Illinois

“The CEJA legislation, with its comprehensive approach to advancing clean energy, renewable resources, and environmental equity and inclusion, aligns with our core values and commitment to promoting clean energy and innovative solutions," said Lloyd

Wynn of Colby Solar

Navitas Solar is globally expanding via a strategic U.S. partnership with Sustainable Equity, Colby Solar, Pruitt & Associates, Energized Ventures, supported by Husch Blackwell, Bricker Graydon, and Attracting Resources.

"These favorable conditions create the perfect breeding ground for new business alliances, such as our new strategic partnership with Navitas Solar,” said Byron DeLear, Chief Executive Officer and Head of Impact and Sustainability for Sustainable Equity “We are very proud to introduce ‘Navitas USA by Colby,’ the first majority Black-owned solar manufacturing facility in the United States, a 1.2 GW operation with plans to grow to 10 GW within a few years ”

Navitas Solar Celebrates a Decade of Solar Excellence and Vision for the Future

Navitas Solar, a leading player in India's solar energy market, today takes a moment to reflect on its journey since its inception on February 13th, 2013. Founded by five visionaries Vineet Mittal, Sunay Shah, Ankit Singhania, Aditya Singhania, and Saurabh Aggarwal the company has grown to become one of India's foremost solar panel manufacturers.

“The journey of our company is a testament to our unyielding commitment to excellence Each milestone underscores our drive for success while making positive social and environmental impacts,” says Vineet Mittal, Co-Founder and Director of Navitas Solar “In 2014, we embarked on that path by acquiring land and building our dedicated module manufacturing unit By 2015, we were producing with an initial capacity of 75 MW per year, and we also established our EPC office in Pune, India Our manufacturing has expanded to 1 7 GW module production capacity per year and will reach 5 GW annually within the next five years.”

A remarkable feature of Navitas Solar is its mastery in backward and forward integration, a rarity in the industry

“In 2019, we formed a strategic partnership with Alpha Plastomers producing Ethylene-Vinyl Acetate (EVA) sheets, a key component needed for solar module manufacturing,” explained Mittal “The subsidiary, Navitas Alpha Renewables Pvt. Ltd. (NARPL), achieved an 800 MW annual production capacity in 2021 and has increased to an impressive 1 5 GW per year by 2023, and this showcases our ongoing dedication and progress toward further vertical integration.”

Navitas Solar Goes Global With Key Partners

Navitas Solar is now expanding its global footprint and has established a strategic collaboration in the U.S. with key local partners including Sustainable Equity, Colby Solar, Pruitt & Associates, and Energized Ventures with support from law firms Husch Blackwell, Bricker Graydon, and consultants Attracting Resources. This partnership aims to bolster Navitas Solar's international presence by distributing Navitas Solar modules in North America through a new entity, Geosol Global Distribution, and manufacturing U S -made modules through its 1 2 GW facility under development in the American Midwest.

About Navitas Solar

Established on February 13th, 2013 by five founders, Navitas Solar is a leading solar panel manufacturer in India With both backward and forward integration capabilities, it offers a full spectrum of solar services and products. Its subsidiary, Navitas Alpha Renewables Pvt Ltd , contributes to its unique market position by manufacturing EVA Sheets Currently producing at 500 MW p a , Navitas Solar aims to expand to 3 GW next year, providing mono and polycrystalline PV modules ranging from 5 to 600 watts per panel

Website: www.navitassolar.in

About Sustainable Equity

Sustainable Equity LLC is a forward-thinking investment company dedicated to championing projects and missions that are purpose-driven, fostering both sustainable and equitable outcomes Our company mission is to deploy capital to create a better world, and we are passionate about investing in companies and community-oriented missions that align with our values. We aim to make a positive impact on communities by providing commercial PACE (C-PACE) financing solutions for energy ble energy, and resiliency property

improvements. Sustainable Equity is supported by a team of professionals who specialize in commercial real estate, legal, structured finance, government affairs, sustainability policy, equity and inclusion, and clean-energy tech To learn more,

please visit us at: www.sustainableequity.org

About Geosol Global Distribution (GGD)

Geosol Global Distribution is North America's newest premier provider in the field of clean energy distribution As the exclusive distributor for Navitas Solar, a top provider of state-of-the-art solar technology, we stand at the forefront with our team of experienced professionals, delivering the latest solar innovations to customers around the world Our experts, ranging from solar technology specialists to distribution logistics professionals, are unified in the belief that sustainable energy should be accessible to everyone Thus, our mission is to simplify the acquisition of top-quality solar products Whether for residential installations or large-scale commercial projects – Geosol has the knowledge and resources to meet a broad spectrum of clean energy needs.

Website: www.geosolglobal.com

About Colby Solar

Colby Solar emerges as the latest evolution of Anchor Renaissance Institute (ARI), building upon a rich legacy in the realm of renewable energy ARI's inaugural venture into sustainable energy dates back to 2009-2010, when it initiated a transformative workforce development program in Washington, DC This landmark endeavor furnished comprehensive training in solar installations, endorsed by NABCEP certification, alongside proficiency in energy audits via RESNET and weatherization techniques through BPI. The pioneering training program has garnered accolades as a visionary model for future workforce training, a testament to its forward-looking approach

Website: www.colbysolar.com

3rd largest PV inverter Manufacturer Globally According to Wood Mackenzie

18 July 2023, Ningbo, China: Solis Inverters (the company), a global powerhouse in the solar energy industry, has been acknowledged as the world’s no 3 solar by shipments, according to Wood Mackenzie This outstanding recognition reaffirms Solis' dedication to technological innovation, product quality, and commitment to a sustainable future.

In 2022, Solis experienced an exceptional year of growth, marked by the inauguration of a brand-new factory featuring state-of-theart, automated production lines This expansion allowed the company to bolster its manufacturing capacity significantly, enabling us to serve an even larger customer base worldwide In a year marked by multiple challenges, the firm has gained share based on the strong backing of its partners and customers to deliver on time

In 2022, when it comes to the top 5 firms globally, Solis has grown 86% over 2021, by far the fastest growth in the group More importantly, this growth came on a significant 61% growth in 2021 over 2020, indicating the strong sales network and brand recognition the firm has built up.

"Solis ranked 3rd largest PV inverter manufacturer globally for the second consecutive year." stated Sandy Woodward at Solis Inverters "We couldn’t have achieved this without our 4500+ strong global team’s commitment to excellence As we expand our manufacturing capacity further, we are well-positioned to continue on a path of growth, dedicated to contributing to a zerocarbon future "

This late the back of many awards and accolades for Solis onths. The company was presented the

“top inverter brand 2023” seal for Belgium by respected global market research organisation, EUPD Research; having gained the same seal for the Netherlands and South Africa. This marks the eighth year running in which Solis has been recognised by EUPD, based on 100,000 interviews across more than 50 countries

With a presence in over 100 countries worldwide, Solis Inverters rapid ascendance in the rankings is a reward for its responsiveness to market needs, with overall manufacturing capacity set to exceed 80 GWs by the close of 2023. Solis has remained focused on a model where the firm fully backs local sales, marketing, training, engineering, and service support for clients, ensuring high satisfaction levels and brand pull even in newer markets.

About Solis

Established in 2005 and listed on the Shenzhen Stock Exchange (300763. SZ), Ginlong (Solis) Technologies is one of the largest and most experienced global solar inverter manufacturers. The company provides cost-effective solutions for homes, businesses and large-scale power plants; delivering value at every level of the solar supply chain and appealing to homeowners and businesses, as well as electricity producers and renewable energy investors globally Combining a global supply chain with world-class R&D and manufacturing capabilities, validated under the most stringent international certification, Ginlong optimises Solis inverters for each regional market, serving and supporting its customers with a team of local experts The company aims to work with stakeholders to accelerate the world's journey towards a more sustainable future.

POLICY & REGULATION A

LOOK

INTO

ANY NEW

GOVERNMENT POLICIES, INCENTIVES, OR REGULATORY CHANGES AFFECTING THE SOLAR INDUSTRY IN INDIA

In recent times, India has witnessed a transformative surge in the solar energy sector, and at the core of this evolution lies an intricate web of policies, incentives, and regulatory modifications initiated by the government These measures have collectively set the stage for the meteoric rise of solar power in the country, reshaping its energy landscape and steering it towards a more sustainable and greener future.

At the heart of this transformation are India's resolute renewable energy targets and strategic initiatives The launch of the National Solar Mission in 2010 was a pivotal moment, setting the initial goal of achieving 20 GW of solar capacity by 2022. Yet, India outpaced its own ambitions, prompting a remarkable recalibration to a target of 100 GW by 2022, an accomplishment that firmly underscores the nation's commitment to renewable energy Now the country has come out with National Electricity Plant for 2030 which is around 280 GW of solar capacity.

To facilitate the realization of these audacious targets, the Indian government has pioneered the concept of solar parks and ultra-mega solar power projects

These innovative frameworks provide developers with a streamlined infrastructure, expediting project development while simultaneously curbing costs By establishing dedicated zones for solar energy generation, the government has streamlined the process of land acquisition, grid connectivity, and the multifaceted challenges associated with large-scale solar projects.

Furthermore, India's steadfast pursuit of reduci mported solar

equipment has spurred the inception of incentives for domestic manufacturing The Production-Linked Incentive (PLI) scheme, a recent addition to the policy arsenal, is strategically designed to incentivize and attract investment in local solar module and solar cell manufacturing This move not only bolsters the domestic manufacturing sector but also serves to fortify India's energy security by reducing its dependence on foreign imports.

In the realm of solar power adoption, net metering policies have been a gamechanger By permitting solar system owners to feed excess electricity back into the grid, India has catalysed the decentralized generation of power This incentivizes consumers to embrace solar energy by enabling them to harness their energyproducing potential while simultaneously offsetting their electricity bills The ripple effect of these initiatives is a grassroots movement towards sustainable energy practices

A significant stride towards seamless solar and wind energy integration is the waiver of inter-state transmission charges By waiving these charges and losses for solar and wind power until 30th June 2025, the government has effectively dismantled barriers that often hindered the crossborder flow of renewable energy. This heralds a new era of efficient utilization of renewable resources across regions, mitigating the energy disparities that were once confined by state borders

India's commitment to reducing carbon emissions has also spurred discussions around potential carbon pricing mechanisms. While not fully realized yet, the introduction of carbon markets or taxes could potentially serve as pivotal tools in further incentivizing the transition to

cleaner energy sources like solar, aligning economic gains with environmental consciousness

Amidst these sweeping changes, the government has also invested substantial effort in enhancing the ease of doing business within the solar sector Simplified regulatory processes, expedited permits, and clearer approval pathways have collectively created a fertile ground for both domestic and international investors. This, in turn, fuels increased participation in the solar energy landscape, fortifying India's position as a burgeoning solar powerhouse However, the journey towards a sustainable solar future is not without its challenges Issues like land acquisition, financing hurdles, grid integration complexities, and the need for sustained policy stability remain as formidable obstacles. Striking a delicate balance between rapid expansion and long-term sustainability necessitates a multi-faceted approach, whereby policy evolution occurs hand in hand with onground solutions

In summation, India's solar journey is a testament to the transformative potential of well-crafted policies and incentives Through ingenious measures such as solar parks, domestic manufacturing incentives, and net metering policies, the government has catalysed a nationwide shift towards solar energy adoption. The waiver of interstate transmission charges and the potential introduction of carbon pricing mechanisms signal a future that is not just environmentally conscious but economically astute as well As India strides confidently into the realm of solar energy, its evolving policy and regulatory landscape shall undoubtedly remain a critical compass, guiding the nation towards a cleaner, greener, and more sustainable future

Mr. Nitin Gutte

(Founder & Managing Director)

SuryaLogix Pvt. Ltd.

SuryaLogix: Pioneering Solar Industry Solutions and Market Expansion Strategies

CONVERSATION HIGHLIGHTS

Leveraging a Background in the Solar Industry: Our immersion across various Solar Industry domains equips us with an acute understanding of client requirements and pain points, forming the foundation for our targeted solutions

Competitive Pricing Advantage: Clients reap the benefits of superlative solutions at a significantly reduced cost of 30-40% vis-à-vis competitors, precipitating a migration towards SuryaLogix.

What sets you apart from your competitors in terms of advantages, and what strategies do you plan to employ in order to capture a larger share of the market currently held by them?

Leveraging a Background in the Solar Industry: Our immersion across various Solar Industry domains equips us with an acute understanding of client requirements and pain points, forming the foundation for our targeted solutions.

Comprehensive Solutions: We furnish end-to-end communication solutions encompassing Hardware, Software, Accessories, Sensors, tailored for diverse solar segments including Rooftop, Ground-mount, Floating, and small-scale installations. This holistic approach optimizes efficiency and resource allocation for companies

Competitive Pricing Advantage: Clients reap the benefits of superlative solutions at a significantly reduced cost of 30-40% vis-à-vis competitors, precipitating a migration towards Sury

Unmatched Flexibility: Our solutions exhibit universal compatibility Our software seamlessly integrates with both SuryaLogix and third-party hardware, while our hardware interfaces seamlessly with SuryaLogix and external software platforms

Robust and Diverse Product Portfolio: Foraying into the field, our robust products yield precise, actionable data to empower Assets Managers We've curated a manifold product range catering to diverse client requisites

Harnessing Cutting-Edge Technologies: Our solutions encompass a gamut of state-of-the-art technologies including IoT, Advanced Embedded Controllers, RTOS, Linuxbased Systems, AI and wireless communication, attesting to our commitment to technological excellence

Proficient Field Engineers: Our dedicated and seasoned field engineers underpin our prowess in delivering punctual service, a pivotal strength of SuryaLogix

Streamlined Operating Procedures: Infused with standard operating procedures, our business operations exude seamlessness, affording clients a frictionless experience. We streamline operations through an inhouse CRM system

Confidence-Instilling Solutions: The amalgamation of these attributes fosters client confidence, substantiated by our track record of addressing pain points through proof of concept. This, in turn, propels our market share growth In the Commercial and Industrial segment, we've already garnered an impressive >70% market share in India and Middle East

SuryaLogix s AI based solution adapt and optimize solar monitoring and control strategies for different regions?

SuryaLogix's AI-based solution excels in optimizing solar monitoring and control across diverse regions:

Technology Agnostic: Works seamlessly with diverse hardware and software configurations

Adaptive AI Algorithms: Tailored AI algorithms process real-time data to account for unique environmental factors in South Asia, Middle East, South East Asia, and Africa.

Dynamic Parameter Tuning: Our solution adjusts solar asset operations, energy optimization routines, and predictive models based on regional solar irradiance, temperature, and weather patterns

Localized Grid Integration: Customizable control strategies and voltage profiles ensure seamless grid integration and other source of energies enhancing energy efficiency.

Continuous Learning: Our solution evolves by continuously learning from changing environmental conditions

SuryaLogix's adaptive AI empowers precise solar optimization, facilitating efficient energy generation while accommodating unique regional characteristics

What has been the industry-wide influence generated by a company such as SuryaLogix since its establishment?

SuryaLogix provided comprehensive end-to-end solutions for solar asset management spanning both hardware and software aspects across various segments, including rooftop and ground-mounted installations

Through our expertise, we successfully optimized over 6000 solar plants across more than 20 countries, leading to significant enhancements in solar power generation efficiency

Notably, our flagship product, the PVDG Controller, deployed in over a thousand installations, has contributed to daily diesel savings of 3000+ liters and has accumulated substantial savings over time

With a workforce of over 100 dedicated engineers and the establishment of a network of 20+ vendors, SuryaLogix has played a pivotal role in job creation Indirectly, our efforts have facilitated the generation of employment opportunities for over 500 individuals. Additionally, our influence has spurred major solar companies to establish dedicated divisions for Solar Assets Management, further augmenting job opportunities across the industry

As SuryaLogix expands its presence across multiple regions, what challenges do you foresee in terms of technology adoption, regulatory compliance, and cultural variations? How do you plan to address these challenges?

As SuryaLogix extends its footprint to diverse regions, these challenges are acknowledged and addressed through following strategies:

TechnologyAdoption

Solution Customization: Tailoring our technology to suit varying infrastructure and technical capacities.

Integration Flexibility: Ensuring seamless integration with existing systems through adaptable interfaces.

RegulatoryCompliance

In-de iloring our

technology to suit varying infrastructure and technical capacities

Legal Expertise: Collaborating with legal advisors to navigate complex regulatory landscapes

CulturalVariations

Local Expertise: Engaging regional specialists and collaborating with local stakeholders to enhance cultural comprehension and communication has been a successful practice for us. Notably, we've established fruitful partnerships in locations such as Dubai, Saudi Arabia, Bangladesh, and Indonesia, showcasing our commitment to bridging cultural gaps and fostering effective interactions

Adaptation: Modifying marketing strategies and approaches to resonate with local cultures

AddressingChallenges

Global Partnerships: Collaborating with local partners for insights and efficient problem-solving

Continuous Learning: dapting and evolving based on experiences and lessons from each region.

Cross-functional Teams: Assembling multidisciplinary teams to comprehensively address technology, regulatory, and cultural aspects

By actively engaging with these challenges, SuryaLogix is committed to fostering sustainable growth across regions while ensuring technological excellence, regulatory compliance, and cultural sensitivity.

ComprehensiveEncryptionStandards

Our monitoring and control systems adhere to industry-leading encryption standards, ensuring end-to-end data protection during transit

SecureAPIsandInterfaces

APIs and interfaces are meticulously secured to prevent unauthorized access and data breaches.

SecureAPIsandInterfaces

APIs and interfaces are meticulously secured to prevent unauthorized access and data breaches

Role-BasedAccessControls

Role-based access controls are integrated, delineating authorized access levels to mitigate potential internal threats

UserTrainingandAwareness

We offer training to users, promoting awareness of cybersecurity best practices and potential risks

IncidentResponsePlans

Comprehensive incident response plans are in place to swiftly address and contain any security breaches

ComplianceCertifications

Our systems adhere to globally recognized compliance certifications, affirming our commitment to stringent security practices

Real-timeMonitoringandAnalytics

Real-time monitoring and advanced analytics enable us to swiftly detect and counter any anomalies in data traffic

DataResilienceandBackup

Data resilience is upheld through regular backups and storage at multiple locations with robust disaster recovery mechanisms

ContinuousImprovement

We continually refine our security measures in response to evolving threat landscapes

I think cybersecurity is one of the very important aspect as we collect more renewable energy data from the field, we at SuryaLogix places paramount emphasis on fortifying the security and privacy of data collected and transmitted via our cutting-edge monitoring and control systems.

By weaving these practices into our cybersecurity framework, SuryaLogix fortifies the security and privacy of data transmitted through our monitoring and control systems This unwavering commitment underscores our dedication to safeguarding sensitive data of our valued customers

With renewable energy adoption on the rise, cybersecurity concerns have become paramount. Can you discuss SuryaLogix's approach to ensuring the security and privacy of data collected and transmitted by your monitoring and control systems?

Solar in Rural India: Exploring Initiatives, Projects, and Business Models for Rural Solar Adoption

POOJA CHATTERJEE

PARTNER Energy Sustainability and Mobility, King Stubb & Kasiva

Introduction

India, a country known for its rich cultural diversity and bustling urban centres, is also home to vast rural landscapes that are in dire need of sustainable energy solutions With a growing population and increasing energy demands, rural India faces the challenge of accessing reliable and affordable electricity. However, the sun shines bright on the horizon, offering a promising solution through a number of solar energy initiatives, projects and business models that cater specifically to rural communities; some of these initiatives are government-led, while others are being led by private companies or non-profit organizations

India's abundant sunlight given that it receives more than 300 days of clear skies puts it in a position to be a prime candidate for solar energy projects Rural areas, often distant from power grids, can tap into this resource to meet energy needs through technologies like solar home systems, irrigation pumps, and lanterns Replacement of conventional power sources with solar energy offers rural populations a chance at energy independence, lowering operating costs, and creating local jobs, while simultaneously boosting rural economies In order to ensure that rural populations conceptually accept solar energy, challenges like awareness, affordability, and maintenance must be tackled. By embracing solar, rural India can illuminate lives, bridge energy gaps, and foster sustainable growth

Pioneering Initiatives, Projects, and Business Models

Pradhan Mantri Sahaj Bijli Har Ghar Yojana (Saubhagya Scheme):

Launched by the Government of India, this scheme aims to provide electricity to every household, both in rural and urban areas As a part of this initiative, solar home systems and minigrids have been deployed to ensure last-mile electrification in remote villages

Pay-As-You-Go (PAYG) model:

The Pay-As-You-Go (PAYG) model holds significant promise for addressing the energy needs of rural and off-grid communities. With a vast rural population lacking reliable access to electricity, the concept of PAYG aligns perfectly with India's goal of enhancing energy security and expanding renewable energy sources.

India's abundant solar resources and the proliferation of mobile payment technologies create a favourable environment for implementing PAYG solutions. As the country strives to increase the share of renewables in its energy mix, the PAYG model offers a practical approach to delivering clean and affordable energy to remote areas The declining costs of solar photovoltaics and batteries further support the feasibility of this approach.

By embracing PAYG, India can bridge the energy gap that plagues its rural communities, providing them with a sustainable, self-sufficient and efficient source of power. This innovative model not only contributes to the country’s renewable energy targets but also empowers underserved populations with access to modern amenities and improved livelihoods.

The Solar Foundation, In collaboration with the World Bank: Further, the Solar Foundation, in collaboration with the World Bank, is playing a pivotal role in advancing Ind’a's transition to renewable energy The project focuses on overcoming investment constraints and increasing stakeholder confidence in the sector One sub-project involves Battery Energy Solar Systems (BESS) constructing a solar installation in Chhattisgarh's Rajnandgaon district [1] Another subproject is underway at the Getalsud reservoir in Jharkhand, featuring floating solar panels

With India's current renewable energy share at almost 29% of its installed capacity, the initiative aims to accelerate the nation's progress toward sustainable universal electricity access Strengthening the Solar Energy Corporation of India's (SECI) capacity is crucial for achieving India's renewable energy targets. The project provides support in various aspects, including human resources, project monitoring, procurement, and financial management.[2] . Through these efforts, The Solar Foundation and the World Bank are contributing to India's journey towards cleaner and more accessible energy sources

Transformation of Health Services in Chhattisgarh:

The Chhattisgarh State Renewable Energy Development Agency (CREDA) has demonstrated the profound impact of renewable energy at the grassroots level.[1] Winning the International Ashden Award for Sustainable Energy and Health, CREDA's solar power installations have illuminated 900 health centres across Chhattisgarh, ensuring round-the-clock reliable power for the past decade.[2] This endeavour showcases the effectiveness of solar electrification as a catalyst for the transformation of the healthcare delivery system in rural India

Solar-Powered Drip Irrigation on Gosaba Island:

The success story of solar-powered drip irrigation technology in West Bengal's Gosaba Island highlights innovative solutions to agricultural challenges. In this tidal river-surrounded region, unsuitable water for irrigation necessitated the use of rainwaterharvesting farm ponds The introduction of solar-powered drip irrigation, supported by ample sunshine hours during the Rabi season, has significantly expanded the cropped area.[1] By efficiently using solar energy to lift and distribute water for highvalue vegetable crops, this project exemplifies the potential of solar technology in transforming agriculture

TERI–JEEViKA Program: Empowering Rural Women:

The TERI–JEEViKA program has brought clean energy access to rural communities in Bihar through self-help groups (SHGs). By making solar home lighting systems (SHLS) and clean cookstoves affordable, this program has positively impacted over 50,000 households Through a Public–Private–People Partnership model, TERI collaborated with the Bihar Rural Livelihoods Promotion Society's (BRLPS) JEEViKA program to enhance rural livelihoods, education, health, and small enterprises [2] This initiative showcases the potential of clean energy to empower rural women and uplift communities.

Mini-Grids and Economic Growth in Narotoli: The coexistence of a Ministry of New and Renewable Energy (MNRE)-supported mini-grid and the national grid in Narotoli village, Jharkhand, offers insights into addressing energy access challenges The MNRE-backed mini-grid provides reliable, 24x7 three-phase electricity, contributing to economic development and enhanced farmer incomes. This innovative model demonstrates the potential of mini grids to supplement national grids, promoting widespread energy access

Shakthi Surabhi: Revolutionizing Biomethanation:

Vivekananda Kendra-NARDEP's Shakthi Surabhi bio-methanation plant addresses multiple challenges faced by rural populations [1] By harnessing the power of anaerobic bacteria in cattle dung, this technology aligns economic and ecological interests, by offering a cleaner and cheaper cooking gas alternative that mitigates reliance on fossil fuels, reduces air pollution, and enhances fuel efficiency.

YES SCALE: Cleantech Accelerator

Cleantech Accelerator focuses on scaling up startups working on energy efficiency, waste management, and water management

This initiative contributes to a cleaner future by supporting innovations that address pressing environmental challenges

Solar-Powered Agriculture in Bihar:

The solar power-irrigated agricultural fields in Chakhaji village, Bihar, exemplify the positive impact of solar energy on farming communities. By replacing polluting diesel pumps with solar panels for irrigation, farmers experience increased yields, reduced carbon emissions, and improved livelihoods

Innovative Partnership for Irrigation:

The Aga Khan Rural Support Programme (AKRSP) in collaboration with the International Water Management Institute as well as organisations like the Jamshedji Tata Trust, as well as the Azim Premji Foundation, have established a successful business model that provides irrigation water to farmers [1] This partnership showcases how entrepreneurial endeavours can drive sustainable water resource management.

Conclusion

India's journey towards rural solar adoption is marked by diverse initiatives, projects, and business models that have brought clean energy to the grassroots level From transforming healthcare and agriculture to empowering women and supporting economic growth, these endeavours highlight the potential of solar energy to drive positive change in India's rural communities. As the nation continues its renewable energy expansion, these success stories serve as inspirations for a cleaner, brighter future

Mr. Naresh Mansukhani

CEO, Juniper Green Energy

Empowering India's Sustainable Future: An Overview of Juniper Green Energy's Mission and Vision in Solar Energy

CONVERSATION HIGHLIGHTS

We believe in making a positive difference in the communities where we operate, contributing to their overall growth and well-being

Our mission is driven by an unwavering focus on innovation and technology, creating a greener energy landscape across the nation and beyond.

Our dedication to green energy has yielded impressive results, leading to the avoidance of 1.2 million metric tons of CO2 emissions per year.

Can you provide an overview of Juniper Green Energy's mission and vision in the solar energy sector in India?

Mission:

To keep an unparalleled focus on innovation and technology while building renewable energy assets across the nation and beyond

To ensure the highest standards of quality, safety, and environmental sustainability without compromise

To be socially responsible at all times and keep an unwavering focus on improving the lives of the communities we operate in.

To be an employer of choice through a culture of trust, collaboration, and transparency

Vision:

To lead the renewable energy space and enable the nation with effective sustainable energy solutions in the most i ll ible manner

How does Juniper Green Energy address the challenges and opportunities specific to solar project development in India's regulatory and policy landscape?

Juniper Green Energy is a solar, wind, and hybrid power project developer and operator with extensive expertise in designing, creating, and developing renewable energy assets The firm is a part of the AT Capital Group, which has a US$2 4 billion asset portfolio composed of global assets in renewable energy, residential and commercial real estate, hotels, and other sectors The Group has been developing utility-scale renewable energy projects in India since 2010, and previously developed and controlled Orange Renewable, a 1GW renewable energy platform

Juniper Green Energy, headquartered in Delhi NCR, began operations in October 2018 with team of 10 people in Gurgaon, India Over the years, Juniper green energy have evolved and an stabilised itself as a prominent independent renewable energy power producer and operator, have achieved a significant milestone by crossing 1 2 GW of renewable energy capacity, we currently have dedicated team of more than 200 people with in house capability of project management, design, engineering, procurement, and construction and operation of our Projects / Plants As an Independent Power Producer (IPP), Juniper Green Energy is selective to do business with Discoms and off-taker. Our conservative approach in this volatile market has seen the Company in good stead with an operational portfolio of over 800 MW and an additional 435 MW under development

Given the dynamic nature of the solar industry, how does Juniper Green Energy stay innovative and adaptable in its project development strategies?

We drive our destiny into the future with a comprehensive and ambitious goal. Our determination lies in establishing ourselves as leaders in the renewable energy market and making a significant impact both nationally and globally. Our vision encompasses several major goals that guide our journey towards a sustainable future:

Innovation and Technology are at the heart of our mission, and we strive to stay at the forefront of renewable energy advancements. We continuously explore and implement cutting-edge developments to optimize the efficiency of our renewable energy assets

We are committed to expanding renewable energy assets across the country and beyond By doing so, we aim to create a greener and more sustainable energy landscape, reducing reliance on conventional fossil fuels

Quality, safety,

and environmental

are non-negotiables for us We maintain the highest standards in all our operations, ensuring that our renewable energy projects have the least negative impact on the environment

sustainability

Our dedication to social responsibility is unwavering. We believe in making a positive difference in the communities where we operate, contributing to their overall growth and well-being

We strive to lead the way in renewable energy solutions, setting an example for others to follow Our goal is to inspire and accelerate the adoption of renewable energy by showcasing the efficacy and benefits of sustainable solutions

A key aspect of our vision is empowering the nation with effective, sustainable energy solutions By contributing to the nation's energy security and reducing carbon emissions, we aim to address environmental concerns and pave the way for a cleaner future

Our long-term goals centre around innovation, sustainability, and social responsibility. We firmly believe that by adhering to our ambitious vision, we can make a positive and lasting impact in the renewable energy sector, paving the way for a more sustainable and cleaner future

How does Juniper Green Energy contribute to India's broader sustainable development goals through its solar projects, and what future plans are in store for the company's growth in the renewable energy sector?

We are firmly devoted to sustainability and have implemented a variety of environmentally friendly methods in our operations We play an important role in developing the future of sustainable energy as an Independent Power Produc on solar power and inf ts

One of the important sustainable methods adopted by Juniper Green Energy is the creation of green energy from endless sources that do not emit carbon or hurt the environment. We considerably minimize greenhouse gas emissions and air pollution when compared to standard fossil fuels by utilizing renewable energy sources such as solar power This not only helps the environment but also improves air quality, improving human and animal health and well-being.

Sustainability is closely tied to green energy since both aim to preserve the environment and mitigate the consequences of climate change

At Juniper Green Energy, we are deeply committed to building a sustainable and equitable future for all Our focus is on contributing to a low-carbon economy, making significant strides in reducing greenhouse gas emissions, and conserving valuable resources through our renewable energy projects and initiatives.

Our dedication to green energy has yielded impressive results, leading to the avoidance of 1.2 million metric tons of CO2 emissions per year We recognize the urgency of mitigating climate change and are proud to play our part in this crucial endeavor.

Moreover, our sustainable practices have allowed us to save over 120 million litres of water annually. Water is a precious resource, and we understand the importance of conserving it for the wellbeing of communities and the environment

Our commitment to sustainability extends beyond environmental considerations Through our projects, we have had the privilege of creating over a thousand local jobs, contributing to the

socio-economic development of the regions where we operate. Empowering local communities and fostering economic growth are key aspects of our vision for a sustainable and equitable future.

We strive to provide clean and affordable renewable energy solutions while prioritizing the health and well-being of the communities we serve By generating electrical power from renewable sources, we aim to reduce dependence on nonrenewable fossil resources and promote long-term economic and environmental development

At Juniper Green Energy, we are deeply committed to building a sustainable and equitable future for all and dedicated to furthering Government of India's vision of a sustainable India, in which the nation achieves net-zero emissions and promotes environmental sustainability

In addition to our core mission, we actively engage in various social and environmental initiatives These include tree plantation drives, clean water drives, educational aid programs, and distributing devices for hearing-impaired children. These initiatives are a testament to our dedication to making a positive impact beyond our immediate projects

Our vision for a sustainable future encompasses a holistic approach, integrating environmental, social, and economic considerations Our ESG-driven approach to investments reinforces our commitment to creating a cleaner, greener, and more equitable world

At Juniper Green Energy, we believe that by combining innovation, technology, and sustainable practices, we can pave the way towards a brighter and more sustainable future for generations to come

Illuminating Gujarat: A 190MW Solar Power Triumph

In an era where sustainable energy sources have become paramount in mitigating climate change, as an Independent Power Producer (IPP), Juniper Green Energy is emerging as a key player in this realm Recently, Juniper Green Energy has successfully executed an important solar power project in Gujarat, India, contributing significantly to the state's renewable energy portfolio The 190MW solar power project stands as a testament to the remarkable potential of solar energy and its capacity to transform lives and the environment.

Project Overview

Quantum of Energy Delivered:

The 190MW solar power project in Gujarat represents a remarkable feat in harnessing the power of the sun to meet the region's energy needs Over the course of its operation, the project has delivered a total quantum of 444 million units (MU) of clean, renewable energy This accomplishment not only underscores the vast potential of solar power but also demonstrates its effectiveness in addressing the energy requirements of a growing and vibrant community.

Power Sale Tie-Up:

A key element in ensuring the viability and success of the project is the long-term Power Purchase Agreement (PPA) with a duration of 25 years Under this PPA, the solar project has secured a tariff of ₹2 63 per kilowatt-hour (kWh) This long-term commitment provides the necessary stability and financial security, enabling Juniper Green Energy to continue its efforts in expanding renewable energy infrastructure and reducing the carbon footprint

Electrification Impact:

The 190MW solar project has a profound and direct impact on the lives of the people residing in Gujarat It is estimated that the project will provide electrification to 88,525 households in the region. This electrification not only enhances the quality of life for these families but also opens up new opportunities for economic development and improved living standards

Environmental Impact:

One of the most significant contributions of this solar project is its annual offset of 4 1 lakh tons of CO2 emissions As the world grapples with the consequences of climate change, such initiatives play a pivotal role in reducing the greenhouse gas emissions responsible for global warming This environmental benefit aligns with international commitments to mitigate climate change and underscores the IPP's commitment to sustainability

Economic Growth and Job Creation:

Beyond the environmental benefits, the project has also contributed to economic growth and job creation in Gujarat The construction and ongoing operation of the solar power plant have generated employment opportunities for local communities, fostering economic development in the region Additionally, the project has stimulated local industries, such as manufacturing and services, by creating demand for components and materials required for the solar power infrastructure

Conclusion:

The successful execution of the 190MW solar power project in Gujarat by Juniper Green Energy represents a significant milestone in the journey towards a sustainable future With 444 million units of clean energy delivered, 88,525 households electrified, and 4 1 lakh tonnes of CO2 emissions offset annually, this project showcases the transformative power of renewable energy Moreover, the long-term Power Purchase Agreement with a tariff of ₹2 63 per kWh ensures the project's financial stability and continued contribution to Gujarat's renewable energy landscape.

This solar project serves as a shining example of the potential for clean, sustainable energy to address not only the energy needs of a growing population but also the global imperative to combat climate change As the world continues its transition towards renewable energy sources, initiatives like this one play a vital role in securing a brighter, more sustainable future for generations to come

Achieves the Highest AAA Ranking in PV Tech’s ModuleTech Bankability Report

SHANGRAO, China, July 27, 2023, JinkoSolar one of the largest and most innovative solar module manufacturers in the world, today announced it has achieved the highest “AAA” category ranking in PV Tech's Q2 ModuleTech bankability report This prestigious recognition underscores the company's exceptional performance in manufacturing and financial indicators, as well as its leadership in N-type TOPCon technology

On July 14th, 2023, JinkoSolar’s subsidiary Jinko Solar Co., Ltd. published estimates of certain preliminary unaudited financial results for the first half of 2023 The preliminary unaudited net income attributable to the shareholders of Jiangxi Jinko is estimated to be in the range from RMB3.66 billion to RMB4.06 billion, increasing by from 304 38% to 348 58% year over year, and demonstrating solid profitability growth quarter over quarter. In the first quarter of 2023, JinkoSolar delivered 13 04GW of solar modules With this remarkable performance, JinkoSolar has solidified its No 1 shipment position as a leading solar module supplier globally, with a cumulative module shipment of 150GW by the end of the first quarter of 2023.

JinkoSolar has made significant strides in large-scale production of N-type TOPCon modules, achieving a mass production efficiency of 25.4%. It expects mass-produced N-type cell efficiency to reach 25 8% and N-type cell capacity to account for over 70% of its solar cell capacity by the end of 2023

By the end of the first quarter of 2023, JinkoSolar’s accumulated N-type module shipments exceeded 16 GW, providing support for hundreds of projects globally over the past year The

proportion of N-type modules shipments in its total module shipments is expected to reach about 60% in 2023, as the Company expects strong demand for high-efficiency products from a growing number of markets and customers.

Mr Kangping Chen, CEO of Jinko Solar Co , Ltd , commented, "As a leading solar module manufacturer, we are honored to be recognized by PV Tech as the most bankable solar brand among customers, investors, and banks worldwide This serves as a testament to our unwavering commitment to research, rigorous quality control, and technological innovation We will continue to elevate the quality, reliability, and long-term performance of our PV modules to create greater value and returns for our shareholders "

The remarkable financial growth and substantial increase in net income are a testament to JinkoSolar's leadership in the solar industry. With the solidification of our No.1 shipment position and advancements in N-type TOPCon technology, we are poised for a future marked by sustainability and efficiency.

Ashok D M

Founder, CEO & MD EnerMAN Technologies Pvt Ltd

Enerman's Vision for a Greener World Through Renewable Energy

CONVERSATION HIGHLIGHTS

Enerman addresses India's SCADA solution challenges

Enerman's vision is affordable 'Made in India' products for global markets. AI and ML-powered analysis enhances Inverter performance

How does Enerman contribute to improving the efficiency and performance of solar PV plants, and what impact does this have on sustainability?

EnerMAN IoT SCADA product ETi-SOL, monitors the performance of key equipment 24/7 with sampling frequency of 1 minute and notify the alerts / alarm on breakdown of equipment in few seconds This will help Engineers/Technicians to attend the breakdown to reduce the loss of generation. EnerMAN provides analysis on Inverter ranking and Inverter downtime loss, This will help Engineers / Technicians to take corrective action to improve the performance of low performing Inverters and take preventive action to reduce the down time of Inverters. EnerMAN products will help in improving the efficiency / generation by more than 2% Our products is deployed over 1 8GWp Solar plants which will directly contribute in generating more than 2% i e 45 million units out of 2 25 billion units (18 MT of Co2 reduction or equivalent to nurturing 7 1 lakhs mature trees)

What are the key challenges currently faced by solar PV plant operators in India, and how does Enerman address these challenges?

Reliable, affordable, end-to-end , easy to use, SCADA solution providers (quick supply and support service ) to fulfill all regulatory compliance and remote monitor the performance of the Solar Assets is big challenge in India and in the world EnerMA address these challeng

Can you discuss the integration of AI and ML technologies in your products and how they enhance the performance of solar PV plants?

EnerMAN IoT SCADA product ETi-SOL, monitors and analyses the performance of Inverters using AI and ML The Analysis report with ranking of the Inverter performance based on various KPIs This will help Asset Owners / O&M site Engineers/Technicians to initiate the comprehensive maintenance work to improve the low ranked Inverter performance, which will enhance the performance of Solar PV plants EnerMAN provide analysis of Equipment downtime, keep track of equipment downtime throughout it’s life time, which will help Asset Owners / O&M team to take timely preventive and corrective action reduce the downtime , which will enhance the performance of Solar PV plants

What trends and innovations do you anticipate shaping the future of the renewable energy industry, and how is Enerman preparing for them?

Maturity and affordability in Energy storage technologies, EV, Greenhydrogen in coming years will increase the demand for Renewable energy in multi-fold. EnerMAN is planning to build many innovative products manage energy efficiently and support emerging technologies/eco-system

What is the long-term vision for Enerman in terms of global expansion and growth in India?

EnerMAN aims to provide End-to-End innovate products manage renewable energy to decarbonise the world and achieve the net zero goal Made in India products (hardware, firmware and software) to global market at an affordable price.

How do you see the role of government policies and regulations influencing the adoption of renewable energy and IoT technologies?

Increase in the generation of renewable energy, which is highly variable in nature poses big challenges to scheduling of energy for distribution companies Hence government polices mandates accurate forecasting and stable supply of renewable energy injection to the grid with localised control of renewable energy generation at each plant.

EnerMAN provides IoT products like Energy forecasting (ETi-CAST), Power Plant Controller (ETi-PPC), Zero Export System (ETi-ZES), Live generation data sharing with State Load Dispatch Centers (ETiSLDC) to fulfill the regulatory compliance

Can you share your perspective on the broader impact of Enerman's work on combating climate change and promoting a greener future?

Massive growth of Solar PV installation across the world faces big challenge of quality and skilled manpower available to manage the performance of Solar PV assets, Solar PV installation is distributed by nature, hence it is humanly impossible to manually monitor the functioning of all key equipment and assess the performance of each equipment to its expected /designed/ desired level

EnerMAN products automates the Monitoring, Analysis and Reporting of the performance of key equipment on defined KPIs This simplifies Solar PV asset owners / developers / EPC companies / O&M service provider in managing the increasing number / size of Solar PV assets using less man power, low cost and with higher efficiently.

Renewable Energy India, Expo 2023: SMA Steers the Future with Innovative Energy Offerings

From October 4th to 6th in Greater Noida, SMA presents a spectrum of innovative solutions for the evolving energy landscape at the Renewable Energy India Expo 2023 The star attraction will be the Sunny Tripower Core2, epitomizing flexibility and integrated features, primed for maximizing yields for the Commercial and Industrial sector Large-scale system enthusiasts will be treated to SMA's groundbreaking grid-forming solutions, pivotal for 100% energy transition ensuring grid stability and resilience Don’t miss out on CAMOPO by SMA, an energy management & optimization software for hybrid power plants Additionally, SMA's advancements in aftersales support technology will be introduced

Karan Singh, SMA Sales Director India, South East Asia and South Korea remarked, “Facing the dual challenges of global climate change and an imminent energy crisis, the promise and potential of renewable energy has never been clearer. At SMA, our trailblazing innovations, steadfast commitment to our customers, and sustainable product visions underscore our role as leaders, guiding the transition to a resilient energy future "

Be a Part of SMA's Live Engagements at REI 2023

Catch the action at booth 3.41, hall 3 over the three days, offering an array of live discussions centered on SMA's holistic energy solutions. Get the full agenda and reserve your spot for the live presentations on our website

SMA's Vision for Large-Scale Energy Solutions:

Together, we aim to sculpt cleaner and more dependable utility grids. Explore SMA's Grid forming storage solutionspivotal for a harmonized energy blend of Sun, Wind, and Hydrogen Dive deep into CAMOPO by SMA, a revolutionary software for hybrid power plants

SMA’s Commercial Energy Initiatives:

March with us towards a carbon-neutral future for businesses. With SMA’s solutions, businesses can stand resilient against soaring energy prices through seamlessly integrated green energy solution

Your path to enduring benefits starts with SMA's custom servicing. From PV and storage project design, and ROI calculations to onsite commissioning, we have you covered along with 24/7 With SMA Online Service Center. Get uninterrupted assistance with our online hub. From in-depth articles, and assembly videos to a gamut of services, explore more at SMA’s booth in New Delhi

Solar Finance: Catalyst for India's Changing Energy Dynamics

ANKUR THAKUR

MANAGER

Medium Voltage Switchgear | Solar PV EPC Projects (Rooftop, Distributed & Small Captive)

Bharat Heavy Electricals Ltd

The numbers 2 44, 1 99, 2 0, 2 36, and 2 29 may not just ring bells, but resonate like gongs in our minds These figures represent the fiercely competitive tariffs quoted by Solar Developers, which have acted as pivotal moments, altering the course of India's bidding landscape While names like NTPC REL, SJVN, Aljomiah, and Enel come to mind, it's essential to acknowledge that these groundbreaking tariffs owe their existence to sustainable finance. This financial support not only drives strategic and sustainable sourcing but also influences downstream activities In an environment of falling tariffs and steep sourcing costs, developers require credible and reasonably priced sources of finance with low cost of capital

The domestic solar market in India has seen remarkable growth, registering a 41% CAGR over the past seven years Forecasts suggest a 35% CAGR over the next five years The sources of finance have evolved significantly, transitioning from conventional bank loans to green bonds, foreign institutional investments (FIIs), 100% foreign direct investments (FDI), and external commercial borrowings Many companies have successfully listed themselves on both Indian and foreign bourses, demonstrating robust performance A diverse array of funding sources has been utilized in financing solar segment in India, including public and private sector banks, foreign institutions like ADB, WB, KfW, Softbank, government and private NBFCs (non-banking financial companies), and various climate funds The Indian government has also provided incentives for residential installations and has promoted the industry through its PLI (Production-Linked Incentive) initiative Notably, the solar sector witnessed a significant milestone with the introduction of the Virescent Renewable Energy Trust, India's first Infrastructure Investment Trust, reflecting the rapid evolution of the Indian solar segment

Looking ahead, the future appears more promising than ever as India shifts gears to incorporate a greater share of solar energy into its power mix, gradually moving away from coal-based power generation. The manufacturing segment is expected to gain momentum and contribute positively from 2026-27, gradually expanding its portion of the supply chain pie while reducing China's market share incrementally However, manufacturing costs remain a challenge, necessitating aggressive and momen terial sourcing facilitated by sustainable

financing. Despite PLI support,Original Equipment Manufacturers (OEMs) will need to provide satisfactory returns to investors and creditors, likely impacting their pricing competitiveness compared to Chinese counterparts. This further underscores the importance of ample and aggressive financing to keep them participative in the landscape

It's worth noting that the impetus for both the manufacturing and EPC (Engineering, Procurement, and Construction) segments is expected to remain focused on Utility Scale projects Rooftop, small-scale, and distributed installations may take a backseat due to the dominance of Utility Scale Solar Private OEMs and developers are driven by the pursuit of better Internal Rates of Return (IRRs) through economies of scale, streamlined procurement, and simplified Operation and Maintenance (O&M) processes in utility-scale projects owing to their limited scatter Given the industry's standard Debt-to-Equity ratio of 70-30, substantial equity investments from foreign institutions and organizations are anticipated. This preference is driven by the consolidated format, ease of exit, and significant asset size associated with Utility Scale projects The rooftop segment, however, shows potential when financed through firm Power Purchase Agreements (PPAs), primarily in Open Access mode Despite aiming for a 35% CAGR, the industry is still reliant on Chinese imports for projects New domestic capacities often find better margins in export markets To ensure the success of new capacities, achieve breakeven points, and meaningfully contribute to India's solar landscape, access to low-cost financing with fixed and long tenors, coupled with protection against currency exchange rate fluctuations, is crucial High currency exchange rates can incentivize OEMs to export more but could also delay ongoing domestic projects because of preference of developers shifting from domestic OEMs to Chinese imports

While we might witness an increase in REITs as well as organizations issuing green bonds, conducting Initial Public Offerings (IPOs), and exploring alternative financing methods, the challenge of channeling sustainable finance from developed to high solar potential countries remains The USD 100 billion climate fund commitment to developing nations from developed counterparts, set to flow from 2020 onwards, falls short of initial promises Although discussed at COP26, concrete actions are yet to be seen Access to such funds could significantly boost the Indian solar industry Unlike other developing nations, India's industry is expanding daily. This access could alleviate developers' hedging concerns, lower the cost of capital, and encourage substantial participation from local and global developers in shaping the sector's growth

Maximizing Solar Potential S and S+ Series

Layout with S10, with shadow analysis, Total Capacity - 69.85KWp.

In 2023 (April 2022 - March 2023), India added 13 GW solar capacity, including utility-scale, rooftop, and offgrid solar Rooftop solar saw a 1 2% surge from FY 2022, with 2 3GW added across India Of this, approximately 30 % of installations on flat roofs spread across government institutions, commercial spaces and residential installations

EPCs across India commonly use penetrative mounting solutions where structures are fixed using foundation bolts directly on roofs or on concrete blocks ensuring stability. However, it necessitates careful sealing to prevent water leakage and requires slight removal of the roof's waterproofing layer to create concrete pedestals

Alternatively, Aerocompact provides its signature nonpenetrative COMPACTFLAT solutions Using weighted blocks or concrete blocks, this method secures solar panels without roof penetration Ideal for flat RCC roofs, where waterproofing layers are present or penetrating the roof isn't feasible and also roofs with low point loads that require load distribution

The COMPACTFLAT solution of Aerocompact provides installers with flexibility of choosing the size & weight of concrete blocks, in turn reducing the civil work on the roofs.

Systems designed with COMPACTFLAT solution are highly scalable, flexible to install, durable and low on maintenance.

Both the S & S+ series are UL 2703 certified and have been wind tunnel tested to ensure suitability across wind loads & snow loads globally, enabling Aerocompact to provide a 25-year warranty on the product (10 year warranty on steel components) For each case, Aerocompact prepares a structural report on its proprietary software AEROTOOL, effectively showcasing wind loads applicable on roof, counterweight distribution on the layout and sliding & uplift loads against each panel

The COMPACTFLAT solutions are now available for supply in India -

S SERIES - South facing Ballaste Structures at 5°,10° and 15°

S+ SERIES - East West facing Ballasted Structures at 10°

As an internal study, Aerocompact prepared layouts on the same roof comparing capacities with S10 & S10+ products to evaluate shadow analysis & annual generat

The approximate outputs observed by Aerocompact India are as follows -

DC KWp Capacity

Roof Area PV Array Area P50 Generation (Kwh/ Year) Total Dead Load (Kg/m²)

For optimal solar energy production, S10 or south mounted solar structures are usually preferred. However, as observed in the above study, S10+ or east-west oriented structure can also provide greater annual generation due to increased capacity on the shadow-free roof area

Brief Comparison of S10 & S10+ structures: -

Feature

Sunlight exposure

Electricity production

Installation complexity

Best use cases

structures

Most sunlight throughout the day

Higher per panel

Simpler to design and install

South-facing roofs or grounds

East-west solar structures

Sunlight throughout the day, less than south-facing

Lower per panel

More complex

Non-south-facing sites, cost-sensitive areas, high wind loads

Renowned globally, the COMPACTFLAT installations are more than 1 GW and have stood tall in testing times over the past 7-8 years with multiple installations across IKEA stores in Europe, Changi Airport in Singapore and many more.

Layout with S10+, with shadow analysis, Total Capacity - 84.7KWp

Unlocking the Potential of Solar in India: Investment Trends and Funding Strategies Outlook

HIMANI SABHARWAL

India’s renewable energy sector stares at significant expansion in the coming years. Projections indicate cumulative annual energy installations to be around 45GW by FY25 With an anticipated annual renewable energy installation of 20 GW in fiscal year 2024, predominantly from solar projects, India continues to draw attention as a top destination for solar investments As of July 2023, India’s installed RE capacity stands at ~130 GW, solar comprising ~71 GW (54%) of the same

As part of sweeping sustainability measures advancing its clean energy agenda of 500GW installed RE by 2030, the Indian government has successfully coupled incentives and policiesnot just for implementation but those across the supply chain to lure investors to finance and build renewable energy-related projects

The promising growth outlook for the solar sector in India is driven by its vast potential as well as timely-implemented government policies that encompass its entire delivery value chain- from module manufacturing until building solar parks, as well as transition plans that entail strategies for transmission line, grid and RTC power development Schemes such as the PLI Scheme allocating US $ 2 57 Bn across two tranches to boost manufacturing of high-efficiency solar modules, development of solar parks, and independent state policies that actively encourage the installation of distributed solar systems, especially in remote and off-grid populations- all continue driving investment in the sector.

Such has been the response and enthusiasm of the investors that in the first six months of 2023, it has been understood that solar power is poised to overtake investments in oil production for the first time, highlighting the commitment of India to its RE implementation goals Such investment has spanned project financing from global and domestic players, NBFCs, FDI, as well as Development Finance Institutions.

The next investment tide shall however encompass systemic adoption of solar technologies, extensively focussing on the sector’s value chain as well as complementing technologies like battery hydrogen More efficient batteries

and adoption of complementing technologies with solar for storing and efficiently generating round-the-clock power shall further cut the solar energy cost by 66% as compared to the current cost, driving up return ratios The potential for high returns is one yet not the only compelling incentive for investors in India’s clean energy investment ecosystem. Apart from return ratios, what remains key is innovation- across manufacturing, policy adoption, as well as financing Project developers and manufacturers have multiple innovative structured credit options- right from the lesser-restricted FPIs to Investment Trusts and ECBs to implement not just vanilla solar projects but floating solar, PV manufacturing, as well as smart farms that promote sustainable food production systems

India continues reaping from such opportunities and is poised to benefit from a new wave of investment inspired by stakeholders who demand high environmental, social, and governance standards. Additionally, India’s advantageous global position visà-vis China continues bolstering its solid economic and diplomatic ties with the US and Europe thereby opening doors for the export of technological know-how and inflow of development capital In that pursuit, one shall also expect further interest from large Asia-based investors including those from Malaysia, Singapore, and UAE, as has been the latest trend, more so given that such foreign low-cost funding remains critical to realising the country’s RE capacity target

Strategically balancing economic growth with environmental consciousness shall however require thinking beyond the implementation of solar investments as mere solar plants, parks, DG systems- rather the focus shall expand to recycling, upcycling as well as efficient management of solar panels, or waste that one might create. The solar industry cannot be seen to be one functioning in isolation, rather one beaming with other industries that pose green and meaningful investment horizons

MANAGER Investments at Ampin Energy Transition.

Experience the power of technology with Deye's all in one new product range

Happy to announce our new products MS-G230 and BOW-G1000

Deye Group, founded in 2000, is in Ningbo, China Under the guidance of Chairman Hejun Zhang strategic thinking of “progress everyday”, Deye has developed from a small mold company to a large technology company during several decades

Deye is committed to providing solutions for dehumidifiers, industrial refrigeration equipment, solar inverters, and solar airconditioning products Moreover, it has a series of supporting industries such as electronic PCB manufacturing, molds, and injection molding machines.

In response to the development concept of innovation, coordination, greenness and, Deye is promoting and focusing on eco-friendly solutions. As a country, a solution for MW scale or all in one solution is a need to avoid losses and provide energy efficient solution For the same, Deye has come up with container solutions, micro grid system.

Deye micro grid system is a reliable system that utilizes LiFePO4 based lithium battery technology, paired with smart BMS for complete protection and proactive balancing. LFP battery system adopts an aerosol fire extinguishing solution Hence, this solution is non-explosive, non-flammable and completely safe for continuous operation It is equipped with an EMS converter and BMS, power supply redundancy design and support black start function The system is rated at 100kW with 230kWh energy storage solution and has round trip efficiency of 88% The solution can withstand hot as well as cold climate Additionally, it has intelligent temperature control feature along with all protection for smooth and stable operation of the system

Deye energy storage solution capable of dynamically adjusting power with inbuilt EMS and PCS The intelligent inbuilt BMS effectively supports and enhance the performance of the lithium ferro phosphate (LFP) battery The operating parameters of the system can be controlled remotely. Emergency stop button helps to stop the system in case of emergency quickly or maintenance The system is rated at 500kW with 1075kWh battery energy storage solution. Further, auxiliary power backup solution supports critical load for 30min.

The development of the above solutions protects the environment and promotes sustainable development.

Deye Group's remarkable journey, guided by Chairman Hejun Zhang's visionary 'progress everyday' approach, exemplifies the transformation of a small mold company into a leading technology powerhouse over the span of several decades. Their commitment to ecofriendly solutions and innovations reflects a steadfast dedication to sustainability and progress.

Leading the Way to a Greener Future with Floating Solar

Floatex Solar, established in 2019, has rapidly emerged as a trailblazer in the floating solar industry, spearheading innovation and delivering sustainable solutions. With years of dedicated research and development, Floatex Solar has solidified its position as the leader in the Indian market for the establishment of Floating Solar Photovoltaics Plants.

One of Floatex Solar's key strengths is its experienced management team with decades of collective expertise in both the plastics and solar industries. This invaluable knowledge base forms the foundation for the company's primary focus, which lies in the comprehensive design, engineering, supply, and installation of floating solar plants

Floatex Solar's distinguishing features is its in-house design, engineering, and R&D capabilities This self-reliance empowers the company to continuously innovate and adapt its solutions Further bolstering its capabilities, Floatex Solar boasts a state-ofthe-art manufacturing facility for floating systems, with an impressive installed capacity of 300MW per year

In addition to its impressive infrastructure, Floatex Solar has an inhouse Anchoring and Mooring Team, which is instrumental in ensuring the stability and effectiveness of their floating solar installations.

Floatex Solar's track record is nothing short of impressive, with a substantial pipeline of projects in India, exceeding 550MW, and having successfully delivered over 250MW of projects to date.

So, why should you choose Floatex Solar for your floating solar needs?

Decades of Experience: With over three decades of experience in plastics molding, Floatex Solar brings a wealth of expertise to every project

Certified Products: Their products have received certifications from highly accredited world-class laboratories, and their designs undergo thorough vetting by third parties to ensure quality and safety

Tough Terrain Expertise: Floatex Solar has proven its mettle in challenging environments characterized by extreme wave conditions, wind conditions, water level variations, soil conditions, and high depths.

In-House Anchoring Design: Their in-house anchoring design and expertise have enabled the successful execution of many complex projects.

Proven Solutions: Floatex Solar has an installed capacity of ove monstrating their capability to deliver relia oating solar solutions.

Furthermore, Floatex Solar is currently making waves in the industry by undertaking the largest floating solar project in the world. This groundbreaking endeavour is taking shape at Omkareshwar, Madhya Pradesh, and stands as a testament to Floatex Solar's commitment to pushing the boundaries of solar energy innovation.

The Omkareshwar project, a colossal undertaking, involves the installation of an astounding 140MW for AMP Energy and an additional 126MW for Tata Power. This monumental project underscores Floatex Solar's ability to tackle ambitious and largescale initiatives, further solidifying its position as a global leader in the floating solar industry

This massive undertaking not only highlights Floatex Solar's capacity to deliver innovative solutions but also its dedication to supporting India's renewable energy goals and reducing the carbon footprint on a global scale. It is a shining example of how Floatex Solar is not only a pioneer in the industry but also a driving force behind the transition to more sustainable and eco-friendly energy sources.

As the world grapples with the challenges of climate change and the urgent need to transition to clean energy, Floatex Solar's contribution through projects like Omkareshwar plays a pivotal role in shaping a more sustainable and greener future

In conclusion, Floatex Solar's involvement in the Omkareshwar project, the largest floating solar project in the world, is a testament to their unwavering commitment to excellence, innovation, and sustainability in the solar industry With a remarkable track record and a vision for a cleaner and more sustainable future, Floatex Solar continues to lead the way in the exciting world of floating solar photovoltaics

Shreyansh Aggarwal (DIRECTOR)

SUNIL AGGARWAL (MANAGING DIRECTOR)

Shravil Aggarwal (DIRECTOR)

FLOTEX SOLAR PRIVATE LIMITED

SOLARQUARTER

STATE LEADERSHIP AWARDS

UTTARPRADESH 2023

Congratulations to all the

BUSINESS EXCELLENCE AWARDS WINNERS

STATE LEADERSHIP AWARDS

State Market Leader Award (Modules)-Platinum

Mundra Solar Energy Ltd

State Market Leader Award (Modules)-Diamond

Saatvik Green Energy Private Limited

State Market Leader AwardInverter

Havells India Limited

State Distributor of the Year

POWERnSUN

State Market Leader Award (Modules)-Platinum

Mundra Solar Energy Ltd.

State Technology Leadership Award- Inverter

INVT Solar Technology (Shenzhen) Co., Ltd.

Smart Technology Innovation of the Year-Inverter

SOFAR

Solar EPC Company of the Year

Solarworld Energy Solutions Pvt. Ltd.

Solar System Integrator of the Year (Rooftop)- Platinum

RAVC Solutions Pvt. Ltd.

Solar System Integrator of the Year (Rooftop)-Diamond

Solar Project Technology Innovation of the Year

Advik Energy Solution Pvt. Ltd.

STATE LEADERSHIP AWARDS

Solar Developer of the Year (Open Access Solar)-

C&I

SunSource Energy Private Limited

State Distributor of the Year

POWERnSUN

AWARDS

TEAM EXCELLENCE AWARDS

Best Project Management Team of the Year

Solarworld Energy Solutions Pvt. Ltd.

INDIVIDUAL LEADERSHIP AWARDS

CEO of the Year-Platinum

Kushagra Nandan Kushagra Nandan

Solar Developer of the YearUtility Scale

SJVN Limited

Atmanirbhar India State Business Leader

Smart Technology Innovation of the Year-Modules

Jakson Limited

State Market Leader AwardMounting Structures

Sudhir Engg works pvt ltd

CEO of the Year-Diamond

Dharmendra Jain

Young Leader of the Year

Ram

Emerging Leader of the Year

Ashish

Ram Anuj Verma

Anuj Verma

Dharmendra Jain

Ashish Bisht

Bisht