SolarQuarter-India (Intersolar special) DEC-JAN Issue 2023

RECLimitedMakesLandmarkEntrywith611Billion

JPYInauguralYen-DenominatedGreenBonds

RECLimited,aMaharatna Central PublicSector Enterprise under theMinistryofPower,hassuccessfullyenteredtheJapanesebond market with its inaugural issuance of Yen-denominated Green Bonds totaling JPY 61.1 billion. These bonds, part of REC’s US$ 10 billionGlobalMediumTermNotesProgramme,span5-year,5.25year, and 10-year tenures, carrying yields of 1.76%, 1.79%, and 2.20%, respectively. This marks REC Limited’s eleventh foray into the international bond market and is notably the first Yen Green Bond issuance by any Indian PSU. The transaction stands out as the largest Euro-Yen issuance in South and Southeast Asia, the largest Yen-denominated issuance from India, and the largest non-sovereign Yen-denominated issuance ever from the region. The issuance attracted significant interest from both Japanese and international investors, with the international allocation reachingoneofthehighestlevelsforanyIndianYendeal.

MahindraGroupandOntarioTeachers’CoSponsorIndia’sLargestRenewableEnergyInvIT with ₹ 2,262.8CroreOffering

Mahindra Group, a prominent player in farm equipment, utility vehicles, information technology, and financial services in India, hascollaboratedwiththeOntarioTeachers PensionPlanBoardto co-sponsor an Infrastructure Investment Trust (InvIT) named ‘SustainableEnergyInfraTrust’(SEIT) SEIT,India’slargestInvITin the renewable energy sector successfully raised primary capital of ₹1365 Crore (USD 165 Million) in its initial unit offering. The offering garnered substantial support from global and Indian investors including the Asian Infrastructure Investment Bank (AIIB) marking SEIT’s debut on the National Stock Exchange of India Limited Aligned with the commitment of Mahindra Group andOntarioTeachers’,SEITaimstosignificantlycontributetothe growthoftherenewableenergysectorinIndia

RelianceIndustries’RECSolarHoldingsDivestsREC NorwayStaketoElkemASAforUSD22Million

In a significant development, REC Solar Holdings AS, a wholly owned subsidiary of Reliance Industries Limited (RIL), has entered into a Share Purchase Agreement (SPA) with Elkem ASA The agreement, finalized on January 14, 2024, involves the sale of REC Solar Holdings AS’s entire 100% equity stake in REC Solar Norway AS(RECNorway)toElkemASAforanotablesumofUSD22Million The transaction is currently pending fulfillment of regulatory and customary closing conditions and is anticipated to conclude by April 2024 Following the sales completion, REC Norway will no longer operate as a subsidiary of RIL Meanwhile, REC Solar Holdings AS and its subsidiaries, actively engaged in the manufacturing and sale of Solar PV HJT cells and modules will persist as subsidiaries within the Reliance Industries Limited corporateframework

RECLtdTargets ₹3,500CroreinGreenYenDenominatedBondstoFuelSustainableProjects

REC Ltd a state-owned entity disclosed its intention to generate approximatelyRs3500crore(equivalentto611billionyen)through the issuance of green yen-denominated bonds This announcement,madeonFriday,ispartofREC’sbroader$10-billion global medium-term note program The three-part initial issuance involvesbondswithvaryingmaturities:31billionyenforafive-year term with a 176% coupon, 274 billion yen for 525-year notes carrying a 179% coupon, and 27 billion yen for 10-year bonds featuring a 22% coupon The funds garnered from this bond offering, following RBI guidelines and RECs Green Finance Framework, will be directed toward financing environmentally sustainableprojects REC,functioningasaninfrastructurefinancier, aimstocontributetogreeninitiatives,aligningwithitscommitment toenvironmentallyresponsiblefinancialpractices

TorrentPowerUnveils ₹47,350CrInvestment BlueprintInCollaborationwithGEDAFor RenewableEnergy,GreenHydrogen,AndPower Distribution

In a landmark development at the 10th edition of the Vibrant Gujarat Global Summit, Torrent Power Limited has sealed four non-binding Memorandums of Understanding (MoUs) with the Gujarat government, signaling a strategic partnership with the state. The MoUs, inked with the Gujarat Energy Development Agency (GEDA), unveil ambitious investment plans totaling ₹47,350 crore (approximately $5.70 billion). These substantial investmentsareearmarkedforcriticalsectorssuchasrenewable energy, green hydrogen, and power distribution, with the overarching objective of catalyzing the state’s development trajectory and creating a robust employment landscape. The strategic coherence between Torrent Power’s investment roadmap and national priorities is indicative of the company’s steadfast commitment to sustainable development and its proactive role in bolstering sectors crucial to the nation’s advancement.

IndiGridFinalizesDealsToProcure300MWSolar Assets

JuniperGreenEnergyInks ₹8,000CrDealwith GujaratGovernmentfor1GWSolarandWind Venture

AdaniGreenImplementsFullyFunded

RedemptionStrategyfor750MillionHoldcoBond

IndiGrid India’s inaugural listed power sector infrastructure investment trust (InvIT) has officially inked a share purchase agreement with ReNew Solar Power Pvt Ltd (RSPPL) for the procurementoftheirasset,ReNewSolarUrjaPvtLtd(RSUPL) The acquisition, valued at an enterprise worth of ₹1,550 crores, encompasses net working capital and cash, totaling around ₹1,650 crores Additionally, an earn-out linked to Change-In-Law (CIL)regardingBasicCustomsDuty(BCD)&GSTwillbedisbursed toRSPPLupontherealizationoftheinitialpayment AdaniGreenEnergyLimited(AGEL)hasunveiledacomprehensive planfortheredemptionofitsUSD750million4375notesdueon September9,2024,termedastheHoldcoNotes Thisredemption plan, announced today, guarantees the complete coverage of outstanding amounts through various reserve accounts The collective amount from these sources totals USD 750 million, effectively ensuring the full security of the Holdco Notes eight months before their maturity date This proactive measure by AGEL marks the complete defeasance of the Holdco Notes, significantly reducing debt while maintaining focus on growth initiatives

SECISecures ₹10BillionLoanfor300MWSolar Project,BoostingIndia’sRenewableEnergyAgenda

In a groundbreaking move Juniper Green Energy a prominent player in the renewable energy sector has forged a historic Memorandum of Understanding (MOU) with the Government of Gujarat The agreement, formalized during the Investment Promotion Activity for the Vibrant Gujarat Summit 2024, outlines anambitiouspartnershipaimedatestablishing1GWofWindand Solarprojectsinthestate,backedbyasubstantialinvestmentof ₹8,000Crores JuniperGreenEnergyenvisionsthecreationof1GW wind and solar projects in Gujarat, showcasing a steadfast commitment to sustainability and the widespread adoption of green energy practices The proposed projects also anticipate generating 1500 jobs, reflecting the companys intent to contributesignificantlytothesocio-economicdevelopmentofthe region Inasignificantdevelopment,theSolarEnergyCorporationofIndia (SECI) has successfully secured a substantial term loan of Rs 10 billion for the expansion of a 300 MW solar project This financial boost marks a crucial step towards advancing India’s renewable energy capacity and underscores SECIs commitment to sustainable and clean power sources The funding, obtained through a request for proposal (RFP) inviting proposals from scheduled commercial banks and financial institutions, is earmarked for the development, construction, and integration of additional solar infrastructure The 300 MW expansion part of the 12 GW capacity awarded by the Indian Renewable Energy Development Energy Limited (IREDA) to SECI is proposed to be developed in the Ramagiri and Muthuvakuntla villages of Sri Sathyasaidistrict

PFCInks ₹25,000CroreMoUwithGujarat GovernmenttoPowerState’sEnergyAmbitions

PowerFinanceCorporationLtd (PFC),aMaharatnaCentralPublic Sector Enterprise (CPSE) and a prominent Non-Banking Financial Company (NBFC) in the power sector sealed a Memorandum of Understanding (MoU) with the Government of Gujarat (GoG) in Gandhinagar on January 3 2024 The primary objective of this collaborativeagreementistoprovideextensivefinancialsupportfor thestate’sgeneration transmission anddistributionprojects

Investment>

India’sGreenEnergyBoom:InvestmentsSurge 83%,SettoReach$16.5Billionby2024onPathto 500GWby2030

Indiaispoisedtoexperienceasubstantialsurgeininvestmentsin renewable energy projects, with estimates from the power ministry indicating an over 83% increase to approximately USD 16.5 billion by 2024. This aligns with India’s ambitious goal of achieving 500 GW of renewable energy by 2030, along with a commitment to reduce overall power generation capacity from fossil fuels to below 50%. Union Power and New & Renewable EnergyMinisterRKSinghhasconsistently emphasizedthatnonfossil fuel-based power generation could reach 65% by 2030, surpassingthetargeted50%.

AdaniGreenEnergyApproves1125Billion WarrantsIssuancetoPromotersforExpansion andDebtReduction

Adani Green Energy Ltd (AGEL), renowned as India’s largest and the world’s foremost renewable energy developer recently announcedtheapprovalbyitsBoardofDirectorsforasubstantial preferentialissuanceofwarrantstoAGEL’spromoters Valuedat INR 9350 crore (equivalent to USD 1125 million) at a per-share price of INR 148075 the move aims to fuel the company’s expansion plans and facilitate debt reduction However, this issuance remains contingent upon regulatory and statutory approvals alongside shareholder consent at the scheduled ExtraordinaryGeneralMeeting(EGM)setforJanuary18,2024

ReNewInksDealtoOffload300MWSolarProject for$199Million

ReNew, a leading decarbonization solutions company in India disclosed the signing of a Share Purchase Agreement with India Grid Trust for the sale of a 300 MW solar project in Rajasthan— ReNew Solar Urja Private Limited—at a total enterprise value of $199million Thetransactionisanticipatedtoconcludeinlinewith Power Purchase Agreement (PPA) conditions, with an additional earn-outofapproximately $8millionexpected duetochange-inlaw proceeds after the initial payment is received by RSUPL. This sale underscores robust investor interest in ReNew-developed assets and aligns with the company’s strategy to boost shareholder value through capital recycling and investment in higher-returnopportunities.

Policy>

IndiaLaunchesMode2AIncentiveSchemeTo AccelerateGreenAmmoniaProductionInPursuit OfSustainableHydrogen

The Indian government has unveiled the Strategic Interventions for Green Hydrogen Transition (SIGHT) Programme, specifically focusing on Component II: Incentive Scheme for Green Ammonia Production and Supply under Mode 2A This initiative is a crucial part of the National Green Hydrogen Mission, which has received anoutlayof ₹19,744croreuptothefinancialyear2029-30,witha significant allocation of ₹17,490 crore for the SIGHT program The primary goal of the scheme is to boost the production of Green Ammonia in India, aiming to enhance its cost competitiveness compared to fossil-based alternatives and promoting large-scale utilization The financial backing for this initiative will be sourced fromthebudgetallocatedtotheNationalHydrogenMissionHead Under Mode 2A of the scheme, SECI will aggregate demand and call for bids ensuring the production and supply of Green Ammonia at the lowest cost through a competitive selection process The implementation of the scheme will be transparent andsubjecttoarigorousselectionprocess overseenbyMNREand executed by SECI SECI’s responsibilities include the examination of applications, issuance of acknowledgments and letters of award, verification of incentive disbursement claims, and submissionofquarterlyprogressreportstoMNRE

NTPCGreenEnergySeeksReimbursementAmid RegulatoryChangesInRenewableEnergySector

NTPCGreenEnergyLimited(NGEL)recentlyfiledapetitionseeking reimbursement of scheduling and forecasting charges under the PowerPurchaseAgreement(PPA)datedMarch31,2016,relatedtoa 260 MW solar PV power project in Bhadla-II, District Jodhpur, Rajasthan NGEL, a wholly-owned subsidiary of NTPC Limited, argued that a change in law occurred with the notification of the RERC Forecasting, Scheduling, Deviation Settlement, and Related Matters of Solar and Wind Generation Sources Regulations, 2017 (RERCF&SDSMRegulations,2017)datedSeptember14,2017 NGEL argued that the change in the law regarding scheduling charges wasn’tanticipatedduringthePPAsigning Thepetitionemphasized thatbeforetheRERCF&SDSMRegulations 2017 noadditionalcost was imposed on the generator for scheduling obligations NGEL estimatedtheimpactofthischangeinlawonitsexpensesrelated toforecastingandschedulingchargesuntilMay2022tobe ₹4369 lakhs

Policy>

ElectricityRulesAmendment2024:Streamlining TransmissionLineOperationsAndTariff Guidelines

The Central Government, in the exercise of its powers under Section 176 of the Electricity Act, 2003, has introduced amendments to the Electricity Rules, 2005, with the issuance of the Electricity (Amendment) Rules, 2024. The new rules are set to comeintoforceupontheirpublicationintheOfficialGazette.The amendment focuses on various aspects related to the establishment, operation, and maintenance of dedicated transmissionlines.Rule21oftheexistingElectricityRules,2005,will be renumbered as Rule 24, with the introduction of new rules preceding it. One significant change pertains to the licensing requirements for entities involved in the generation of electricity, setting up captive plants, Energy Storage Systems, or consumers withaloadofatleast25MWforInter-StateTransmissionSystems and10MWforIntra-StateTransmissionSystems.Accordingtothe amendment, these entities will not need a license under the Electricity Act for establishing, operating, or maintaining a dedicatedtransmissionlineconnectingtothegrid,providedthey adhere to the relevant regulations, technical standards, guidelines,andprocedures.

MinistryUnveilsLatestCFABenchmarksfor Phase-IIResidentialRooftopSolarProjects

In a recent development, the Ministry has approved revised benchmarksforCentralFinancialAssistance(CFA)underPhaseII of the Rooftop Solar Programme. The changes, outlined in the officialmemorandumdated27.01.2023,havebeendirectedbythe competent authority to enhance support for Grid Connected Rooftop Solar Photovoltaic Systems. The revised CFA (Central FinancialAssistance)isstructuredbasedonprojectcapacityand categories, providing different rates for various segments. For individualhouseholdprojects,theratesaresetatRs18,000/kWfor 1-3 kW capacity in general, and Rs 20,000/kW for the same capacity in Special Category States. Projects with a capacity above3-10kWhaverevisedratesofRs9,000/kW(General)andRs 10,000/kW(SpecialCategoryStates).

MNREUnveilsAmbitiousSolarPowerInitiativefor PVTGHabitationsunderPMJANMAN

TheMinistryofNewandRenewableEnergy(MNRE)hasintroduced anewSolarPowerSchemeaspartofthePradhanMantriJanjati Adivasi Nyaya Maha Abhiyan (PM JANMAN) aimed at Particularly Vulnerable Tribal Groups (PVTG) Habitations/Villages. The scheme,coveringtheperiodfrom2023-24to2025-26,focuseson electrifying 1 lakh un-electrified households in PVTG areas across 18 states and the Union Territory of Andaman & Nicobar Islands. The scheme involves the provision of off-grid solar systems for households where grid electricity is not feasible. Additionally, it includes solar lighting for 1500 Multi-Purpose Centres (MPCs) in PVTG areas lacking grid electricity. The financial outlay for the schemeisRs.515Crore,withspecificallocationsfortheprovision ofsolaroff-gridsystemsandsolarlightinginMPCs.

SECI’sPetitionForAdoptionOfTariffAnd RegulatoryApprovalFor600MWSolarPower Projects(TrancheVIII)

In a recent development under Section 63 of the Electricity Act 2003 theSolarEnergyCorporationofIndiaLimited(SECI)hasfiled apetitionfortheadoptionoftariffsrelatedto600MWsolarpower projects (Tranche VIII) connected to the Inter-State Transmission System(ISTS) Theseprojectswereselectedthroughacompetitive biddingprocessfollowingtheguidelinessetbytheGovernmentof India SECIinitiatedtheprocessbyissuingaRequestforSelection (RfS)for1,200MWISTS-connectedsolarpowerprojects,attracting eleven bids totaling 4 GW After shortlisting eight bidders based on technical criteria, an e-reverse auction was conducted, resultingintheselectionoffourbidderswithacombinedcapacity of12GW LettersofAwardwereissuedonApril6,2020

ElectricityRulesAmendment2024:Streamlining TransmissionLineOperationsAndTariffGuidelines

TheCentralGovernment,intheexerciseofitspowersunderSection 176oftheElectricityAct,2003,hasintroducedamendmentstothe Electricity Rules, 2005, with the issuance of the Electricity (Amendment)Rules,2024 Thenewrulesaresettocomeintoforce upon their publication in the Official Gazette The amendment focusesonvariousaspectsrelatedtotheestablishment,operation, and maintenance of dedicated transmission lines Rule 21 of the existing Electricity Rules 2005 will be renumbered as Rule 24 with the introduction of new rules preceding it One significant change pertains to the licensing requirements for entities involved in the generation of electricity setting up captive plants Energy Storage Systems,orconsumerswithaloadofatleast25MWforInter-State Transmission System and 10 MW for Intra-State Transmission System

Maharashtra’sDraftMERCAmendmentsIn Forecasting,Scheduling,AndDeviationFor

RenewableEnergy

The Maharashtra Electricity Regulatory Commission (MERC) is undergoing a significant amendment in its regulations of the forecasting,scheduling,anddeviationsettlementforsolarandwind energy generation This move is in alignment with the ambitious goals set by the Government of India (GoI) to become a carbonneutral nation by 2070 and achieve 500 GW of renewable energy (RE) capacity by 2030 The Ministry of Power (MoP), GoI, has been activelycontributingtotherenewableenergylandscapebyissuing rules and orders Notably the “Renewable Purchase Obligation (RPO)andEnergyStorageObligationTrajectorytill2029-30”Order was notified in July 2022 emphasizing the commitment to renewable energy adoption The MoP urged State Electricity Regulatory Commissions (SERCs) to align their regulations with these orders, leading to the draft MERC (Renewable Purchase Obligation)(FirstAmendment)Regulations,2023

KERCOrdersCompensationForSolarProject GenerationLossInKarnataka

In a recent development, M/s Clean Solar Power (Gulbarga) Pvt., Ltd. has petitioned the Karnataka Electricity Regulatory Commission (KERC) seeking compensation for generation losses incurred due to transmission delays. The petitioner, a Special Purpose Vehicle (SPV) of M/s Hero Solar Energy Private Limited, allegesnegligenceandfailureonthepartoftheKarnatakaPower Transmission Corporation Limited (KPTCL) to construct the necessary transmission infrastructure for its Solar Project located inBeejihallivillage,Tumkurudistrict,Karnataka.

NTPCFacesSetbackAsCommissionRulesIn FavorOfSolarDeveloperAmidstSafeguardDuty Dispute

In a recent development Solairepro Urja Private Limited a solar powerdeveloper hasemergedvictoriousinitslegalbattleseeking compensation for the imposition of Safeguard Duty by the Government of India The dispute revolves around a Power PurchaseAgreement(PPA)signedin2018betweenSolaireproUrja and NTPC Limited Solairepro Urja is currently working on a 250 MW Solar Power Generating System in the Kadapa Ultra Mega SolarParkinAndhraPradesh Thecompanyfiledapetitionin2019, undertheElectricityAct,2003,andArticle12ofthePPA,claiming relief due to the imposition of Safeguard Duty as per Notification No 01/2018Customs(SG)dated30072018

CERC’sRoleInAdaptingToChallengesAnd CompensationInIndia’sSolarSectorAfterGST RateHike

In recent proceedings before the Central Electricity Regulatory Commission, M/s Ostro Energy Private Limited (OEPL) sought compensationundertheElectricityAct2003forfinancialimpacts arising from a change in the Goods and Services Tax (GST) rate, increasedfrom5%to12%bya2021notification.Thecompensation claim was based on the Power Purchase Agreement (PPA) signed between OEPL and the Solar Energy Corporation of India Limited (SECI) in 2019. OEPL, a renewable energy company engaged in solar power projects, argued that the GST rate hike resulted in additional project costs, qualifying as a “Change in Law” event under the PPA. Despite multiple hearings and notices, the respondingpartiesdidnotprovidewrittensubmissions.

CERCRulesInFavorOfSolarPowerCompaniesIn CompensationDisputeOverGSTRateHike

In a recent development, the Central Electricity Regulatory Commission (CERC) has issued a significant ruling in response to petitionsfiledbysolarpowercompaniesseekingcompensationfor thefinancialimpactoftheincreaseintheGoodsandServicesTax (GST) rate. The petitioners including Azure Power Forty-One Private Limited Azure Power Forty-Three Private Limited and Azure Power Maple Private Limited had approached the CERC underSection79oftheElectricityAct 2003 Thedisputearosedue to a change in the GST rate from 5% to 12%, as notified by the governmentthroughNotificationNo 8/2021-CentralTax(Rate)on September 30, 2021 The petitioners argued that this change qualifies as a “change in law” event under Article 12 of the Power PurchaseAgreements(PPAs)theyhadenteredintowiththeSolar EnergyCorporationofIndiaLimited(SECI)

RenewableEnergyFirmWinsCompensationAmid RegulatoryShiftsAndSafeguardDutyImpositions

In a recent development, ReNew Sun Waves Private Limited (RSWPL), a company engaged in solar power projects, filed a petition before the Central Electricity Regulatory Commission The petitionsoughtapprovalfora ChangeinLaw andcompensation due to the financial impact of recent events, specifically the impositionofsafeguarddutyonsolarcells/modulesandchangesin customs duty rates RSWPL a generating company and a project entityofReNewSolarEnergy(JharkhandFour)Limited issettingup a 300 MW Solar Power Project based on Photovoltaic technology The petition involved Solar Energy Corporation of India Limited (SECI)asRespondentNo 1andBiharStatePowerHoldingCompany Limited(BSPHCL)asRespondentNo 2

Policy>

ChhattisgarhStateElectricityRegulatory CommissionProposesAmendmentsTo RenewableEnergyTariffRegulations

The Chhattisgarh State Electricity Regulatory Commission (CSERC) has taken a significant step in amending its existing regulations concerning the determination of generation tariffs and related matters for electricity generated by plants based on renewable energy sources. The proposed amendments, titled “Chhattisgarh State Electricity Regulatory Commission (Terms and Conditions for Determination of Generation Tariff and Related Matters for Electricity Generated by Plants Based on RenewableEnergySources)(FirstAmendment)Regulations,2023,” aim to align with the evolving landscape of renewable energy policiesandpractices.

UnionMinisterUpdatesOnPioneeringSolar SchemesForDomesticEnergyRevolution

TheUnionMinisterforNew&RenewableEnergyandPower,ShriR. K.Singh,shareddetailsaboutthegovernment’srobustinitiatives to boost solar energy adoption across the country. Launched in January2010,theNationalSolarMission(NSM)hasbeenapivotal platform introducing various schemes to promote solar energy development. Presently, thefocus isonencouraging solar energy usageatthedomesticlevelthroughmultipleschemes.Underthe SolarParkScheme,thegovernmentaimstoestablishaminimum of 50 Solar Parks, targeting an impressive 40,000 MW of solar power projects. Another noteworthy initiative is the Scheme for setting up 12,000 MW of Grid-Connected Solar PV Power Projects by government producers, supported by Viability Gap Funding (VGF). The Installation of Grid-Connected Solar Rooftop Power PlantsandthePradhanMantriKisanUrjaSurakshaevamUtthaan Mahabhiyan (PM-KUSUM) are additional programs aimed at facilitatingsolarenergyintegration.

CEAExtendsConsultationPeriodForDraft ProcedureOnCaptiveStatusVerificationOfMultiStateGeneratingPlants

InresponsetotheletterdatedNovember1,2023,seekingcomments onthedraftprocedureforverifyingthecaptivestatusofgenerating plants across multiple states, stakeholders have requested an extensionforsubmission.Consequently,thedeadlineforcomments onthedraftprocedure,whichalignswiththesub-rule(3)ofRule3of the Electricity Rules, 2005 (amended on September 1, 2023), has beenextendedtoDecember8,2023.Allstakeholders,includingthe public, are urged to provide their feedback on the draft by submittingcommentsintheprescribedformattothelegaldivision of the Central Electricity Authority (CEA). The draft procedure, crafted by the CEA with the approval of the Central Government, pertains to the verification of captive status for generating plants andtheircaptiveusersspreadacrossmultiplestates.Theobjective istoensurecompliancewithRule3oftheElectricityRules,2005,in cases where Captive Generating Plants (CGP) and their users are locatedinmorethanonestate.

APSERCIntroducesDraftGreenEnergyOpen AccessRegulations2023

Inasignificantmovetowardsfosteringtheintegrationofrenewable energysourcesintothepowersector,theArunachalPradeshState Electricity Regulatory Commission (APSERC) has introduced the draft“TermsandConditionsforGreenEnergyOpenAccess(GEOA) andMethodologyforCalculationofChargesRegulations,2023”The regulations are poised to come into force upon their official publicationintheGazetteofArunachalPradesh markingapivotal step in facilitating open access to electricity generated from renewable sources within the state These regulations hold applicabilityforenablingopenaccesstoelectricityfromRenewable EnergySources(RES)throughtheIntra-StateTransmissionSystem (InSTS) and distribution systems of licensees in the state This includes systems incidental to the interstate transmission of electricity To maintain coherence, the definitions of terms not explicitly provided in these regulations are derived from existing legal frameworks such as the Electricity Act, Indian Electricity Grid Code(IEGC),StateGridCode,oranyothercommissionregulations

Policy>

MNREIssuesClarificationsOnPM-KUSUM Scheme’sComponent-C

TheMNREclarifiedComponent-C(FLS)ofPM-KUSUM,relaxingthe indigenous solar cells requirement until March 31, 2024, for smoother implementation. Eligible CFAs remain unchanged at ₹1.05 crore/MW for General States and ₹1.75 crore/MW for designatedregions.SIAsareurgedtoexpediteschemeexecution and monitor progress. MNRE's directive emphasizes government commitment to renewable energy in agriculture, fostering PMKUSUMgoals.Byaddressingqueriesandofferingclearguidelines, MNRE aims for efficient Component-C (FLS) implementation, advancingrenewableenergyobjectivesnationwide.

MinistryOfPowerGrantsTPSauryaLimited AuthorityToLayTransmissionLineFor300MW BikanerSolarProject

TP Saurya Limited seeks authorization under Section 164 of the ElectricityAct,2003,foranoverheadtransmissionlineinBikaner, Rajasthan, essential for its 300 MW Solar Power Project. Central Electricity Authority (CEA) prior approval, published for public review,garnerednoobjections.MinistryofPowergrantsTPSaurya Limited authority, subject to conditions: a 25-year duration, consent from local bodies, adherence to Electricity Act regulations, and operation clearance from the Electrical Inspector.ClearancesfromCivilAviationandDefense,complying with Supreme Court directives for Great Indian Bustard potential zones, are mandated. TP Saurya Limited's approval highlights its renewable energy commitment and underscores the significance of regulatory compliance and environmental stewardship in sustainableenergyinitiatives.

Karnataka’sEnergyRevolution:EmbracingPeerto-PeerSolarTransactionswithBlockchain TechnologyandtheUnveilingofDraftRegulations

Karnataka Electricity Regulatory Commission (KERC) embraces blockchain technology for peer-to-peer (P2P) solar energy transactions, aiming to revolutionize energy trading. KERC's regulations facilitate direct consumer-to-consumer energy sales, leveraging decentralized trading for efficiency and innovation. Initiallyrecognizingsolarrooftopprojects,KERCallowsthird-party investments, enabling various business models. P2P transactions empower consumers, offering cost savings, grid resilience, and environmental benefits. Regulations mandate distribution licensees to provide metering arrangements impartially. Consumers engaging in P2P transactions install grid-connected solar plants and smart meters. KERC emphasizes flexibility, inviting public feedback for 30 days on proposed regulations to enhance Karnataka's energy landscape. The regulations aim to complement existing frameworks, ensuring a dynamic approach toevolvingenergyneeds.

PM-KUSUMSchemeImplementationGuidelines Unveiled,PropellingAgricultureTowards SustainableEnergyTransformation

The PM-KUSUM Scheme aims to modernize agriculture through solar and renewable energy integration. New guidelines supersede prior ones, detailing three key components: decentralized solar plants near substations, solar pumps for farmers, and solarization of grid-connected pumps. Farmers can lease land to DISCOMs for plant installation. Component B aids small farmers with solar pumps, while Component C solarizes pumps and grids, offering surpluspowersales.Guidelinesensurefinancialaid,biddingroutes, andGPSsurveys.WithSIAsandDISCOMs'involvement,thescheme targets 34,800 MW of solar capacity by March 2026, aligning with sustainabilitygoalsandfarmerincomegrowth.

SECIPrevailsInWindAndSolarDisputeAsPSPCL OrderedToSettleOutstandingPayments

SECI petitions PSPCL for unpaid renewable power from April 1-7, 2020 PSPCL cites PSERC approval and pandemic-related force majeure, challenging SECI's jurisdiction and delay SECI rebuffs forcemajeure,citing'MustRun'status PSERCrulesinSECI'sfavor, ordering PSPCL to pay for wind and solar power plus late surcharges Commission rejects force majeure, stating scheduled powerimpliesconsent PSPCLmustcomplywithSECI'scalculations per agreements The resolution underscores honoring contractual obligationsinrenewables

GreenHydrogen>

IndiaAcceleratesGreenHydrogenAgendaWith Mode-2BIncentiveSchemeForProductionAnd Procurement

India has unveiled its Strategic Interventions for Green Hydrogen Transition (SIGHT) Programme Component-II, focusing on Mode2B’s Incentive Scheme for Procurement of Green Hydrogen Production under the National Green Hydrogen Mission. The scheme,partofthelargerNationalGreenHydrogenMissionwith an approved outlay of ₹19,744 crore until FY 2029-30, aims to maximize Green Hydrogen production, enhance cost competitiveness against fossil-based alternatives, and promote large-scaleutilization.UnderMode2B,thefocusisonaggregating demand and calling for bids for Green Hydrogen production and supply at the lowest cost, specifically for a single refinery or multiple refineries. The objective is to provide a fixed incentive to encouragetheproductionofGreenHydrogen TheMinistryofNew and Renewable Energy (MNRE) has issued this scheme with the approvaloftheHonorableMinisterofNewandRenewableEnergy.

NTPCGreenEnergyInksMoUsWithGSPCAnd GPPLForGreenHydrogenInitiatives

NTPC Green Energy Ltd (NGEL) has entered into MoUs with Gujarat State Petroleum Corporation Ltd. (GSPC) and Gujarat Pipavav Port Ltd. (GPPL) during the three-day Vibrant Gujarat GlobalSummit2024,beingheldinGandhinagarduringJanuary10 –12,2024.TheMoUwithGujaratStatePetroleumCorporationLtd. aims for the blending of Green Hydrogen in the gas networks of GSPC and the promotion of Green Hydrogen mobility by setting up Green Hydrogen fuelling stations in Gujarat. The MoU was exchanged between CMD, NTPC, Shri Gurdeep Singh and MD, GSPC, Shri Milind Torawane; in the presence of Chief Minister of Gujarat Shri Bhupendrabhai Patel; Minister of Finance, Energy & Petrochemicals, Government of Gujarat, Shri Kanubhai Desai; Member, NITI Aayog, Dr. V. K. Saraswat and other senior officials andinternationaldelegates.

OilIndiaInitiatesTenderForEstablishingA1MW GreenHydrogenProjectInHimachalPradesh

OilIndia(OIL)isseekingproposalsfortheestablishmentofa1MW green hydrogen project in Himachal Pradesh, boasting a generation capacity of 17 Kg/hr. The project is mandated to be commissioned within 18 months of the issuance of the award letter. The deadline for bid submissions is January 15, 2024, with bidsscheduledtobeopenedonthesameday.Interestedbidders are required to submit an earnest money deposit of ₹1.35 crores. Additionally, selected bidders must provide 10% of the contract valueasperformancesecurity.Theoperationalunitisexpectedto runforaminimumof8,000hoursperyearatfullcapacity.Eligible bidders are either manufacturers or channel partners of manufacturersspecializinginwaterelectrolyzertechnologiessuch as anion exchange membrane, proton exchange membrane, alkalinemembranesolidelectrolyzer,orsolidoxideelectrolyzer.

SECI’sGreenHydrogenManufacturingAuction DeclaresReliance,ACME,GreenkoAndOthersAs SuccessfulBidders

InasignificantdevelopmentinIndia’srenewableenergylandscape, Reliance Green Hydrogen and Green Chemicals, ACME Cleantech Solutions, Greenko ZeroC, HHP Two, and Bharat Petroleum Corporation emerged as successful bidders in the Solar Energy Corporation of India’s (SECI) tender. The tender aimed at establishing production facilities for green hydrogen, boasting an annual capacity of 450,000 metric tons. SECI invited proposals under two distinct categories: the Technology Agnostic Pathways bucket(BucketI)andtheBiomass-basedPathwaysbucket(Bucket II). The green hydrogen production capacity is distributed with 410,000MT/yearunderBucketIand40,000MT/yearunderBucketII. Reliance, Greenko, and ACME secured 90,000 MT of capacity each under Bucket I, with respective average incentives of ₹18.9/kg, ₹30/kg,and ₹30/kg.Hygenco,withawinningcapacityof75,000MT, received an average incentive of ₹25.04/kg. Other notable winners includeTorrentPower,CalcuttaElectricSupplyCorporation(CESC) Projects,WelspunNewEnergy(Welspun),UPL,andJSWNeoEnergy.

GovernmentSeeksProposalsToPropelEscalation InHydrogenValueChainTechnologies

ToestablishafullhydrogenvaluechaininIndia,theDepartmentof Science & Technology (DST) has invited proposals to upgrade labscale technologies, which are at technology readiness levels (TRL) 3–4 Thegoalistoreachprototypes(TRL5)andpilotplants(TRL6) Under this initiative, projects up to a maximum funding limit of ₹5 Cr are expected to be completed in two to three years Bids must be submitted by December 29, 2023, at the latest The call for proposals emphasizes prototypes with commercial potential and centers on the domestic development of hydrogen-related technologies Additionally, a detailed commercialization plan with timetables, budget justification, and interactions with possible technology transfer partners must be included in proposals The Government of India will own all know-how produced by the projects andanyprofitsfromitsuseorsale includingroyalties will gotothegovernment

Tenders>

Maharashtra’sShirdiTempleReleasesTenderFor 1MWRooftopSolarInstallation

RailwaysOpenBiddingfor1MWRooftopSolar VenturesInAssam

NTPCInitiatesTenderProcessFor0.95MW RooftopSolarProjectsAtThreeIOLUnits

MaharashtraInitiatesTenderForTheAcquisition Of366MWOfSolarEnergy

MSEBSolarAgroReleasesTenderForAcquiring 160MWSolarPowerUnderMukhyamantriSaur KrushiVahiniYojana2.0InAmravatiDistrict

AssamInvitesBidsForSolarPlusBatteryProject, MarkingMilestoneInSecretariatComplex Solarization

MaharashtraInitiatesTenderForTheAcquisition Of366MWOfSolarEnergy

THDCInvitesConsultancyTenderFor1000MW SolarParkProjectInRajasthan

SECI’sTrancheVII2000MWWind-SolarHybrid AuctionDeclaresNTPC,JuniperGreen,And GreenInfraWindEnergyAsWinners

NTPCCallsForProposalsForRooftopSolar ProjectsTotaling41MW

SuratMunicipalCorporationReleases ConsultancyTenderFor10MWSolarInitiatives

OdishaCallsForProposalsToSell500MWSolar Power,IncludingGreenshoeOption

HimachalPradeshDISCOMIssuesTenderfor50 MWSolarVentures

500MWRooftopSolarProjectsUpForBiddingIn UttarPradesh

BiharSolicitsBidsFor185MWSolarPlantAnd254 MWBatteryStorageInRenewablesDrive

HPCLInitiatesBiddingFor7MWSolarPower ProjectInMaharashtra,IncludingLandLease AndMaintenanceContract

GujaratReleasesTenderForConsultancy ServicesFor500MWSolarPark

TamilNaduImplementsTariffSubsidiesAnd50% RooftopNetworkReductionForMSMEs

ProposedAmendmentsToElectricityRulesSeek TimelyPaymentsAndSecureSupply

UHBVNInvitesExpressionsofInterestfor40MW DecentralizedSolarPowerProjectsunderPM KUSUMInitiative

THDCReleasesRequestForConsultancy ProposalsForFloatingSolarProjectsIn Maharashtra

GRIDCOSparksASolarRevolution:500MW PowerTenderInvitesBidsWithGreenshoeOption

PunjabSolicitsProposalsFor100MWSolar ProjectsandAssociatedTransmissionSystem

InvitationForBids:RECPDCLCallsForProposals On250MWSolarProjectsFeaturingGreenshoe Option

SJVNCallsForProposalsToSecureLandFor200 MWSolarProjectsInAssam

SECIAnnouncesTenderFor400MWOfSolar ModulesProducedDomestically

BSPGCLIssuesTenderFor10MWFloatingSolar ProjectAtPhulwariaDamInBihar

Project>

SaatvikSolarSecures200MWSolarPVModules SupplyOrderFromEnrich

SaatvikSolarandEnrichEnergyjustinkedanagreement(MoU)for the delivery of 200 MW of solar PV modules for Enrich’s forthcoming projects in India. Saatvik will begin supplying the high-efficiency Mono Perc 550Wp modules from February this year,andcompletethesupplieswithinthenextninemonths.

AvaadaGroupInksMoUWithGujaratGovernment For6GWHybridWind-SolarProjects

AvaadaGroup,aleadingintegratedenergyplatforminIndia,has entered into a Memorandum of Understanding (MoU) with the Government of Gujarat to undertake a groundbreaking initiative in the renewable energy sector The collaboration aims to establishhybridwind-solarprojectswithacombinedcapacityof6 GW in the state, involving an estimated investment of Rs 40,000 crore

NTPC-SAILPowerCallsForBidsFor15MW

FloatingSolarPVProjectInBhilai,Chhattisgarh

NTPC Limited, acting on behalf of NTPC-SAIL Power Company Limited(NSPCL),acollaborativeventurebetweenNTPCandSAIL, has invited online bids through the Government e-procurement portal of NIC (GePNIC) for the development of a 15 MW Floating SolarPVProjectatMarodaReservoir-1inBhilai,Chhattisgarh.The bidding process follows a Single Stage Two Envelope Basis, comprising a Techno-Commercial Bid (Envelope-I) and Price Bid (Envelope-II)

TamilNaduMilkCooperativeSeeksProposalsFor 438GWhOfRenewableEnergyGeneration

The Tamil Nadu Cooperative Milk Producers’ Federation (TCMPF) has initiated a bidding process to acquire 5 MW of daily power from solar or wind projects, or excess power from generators through open access. The agreement commits the developer to supply a minimum of 20,000 units of power daily, meeting the contractual demand of 30 MW per day and an annual consumptiondemandof43.8GWh.

NTPCRELWinsContractFor900MWSolarProject InPFCCL’s1250MWSolarTender

NTPCRenewableEnergyLimitedhassuccessfullysecureda900MW capacity in a Solar tender facilitated by PFCCL on behalf of NTPC Ltd.Theinitiativeaimedatselecting1250MWISTS-connectedSolar PVPowerProjectsinIndiaundertheFlexibilityScheme.

SolarworldGroupCommissions75MWSolarParkIn GurhahVillage,UttarPradesh

In a stride towards a sustainable future, Solarworld Group has achievedagroundbreakingfeatwiththesuccessfulinaugurationof a75MWSolarParkinGurhahVillage,locatedintheJalaundistrict of Uttar Pradesh. This momentous accomplishment reflects the company’s unwavering commitment to spearheading a renewable energyrevolution.

FirstSolarsigns~167MWpWindAndSolarEnergy PPAWithCleantechSolarToPowerIndia ManufacturingFacility

CleantechSolarhasenteredintoa15-year,captivePowerPurchase Agreement (PPA) with First Solar, Inc. (Nasdaq: FSLR). Under the agreement, Cleantech Solar will construct 150 megawatts (MW) of photovoltaic (PV) solar and 16.8 MW of wind-generating assets in Tamil Nadu, India, supplying approximately 7.3 gigawatt-hours (GWh) of clean electricity to First Solar’s new 3.3-gigawatt (GW) vertically integrated solar manufacturing facility, also located in TamilNadu.

EmmveeInksLandmarkAgreementToSupply 300MWpSolarModulesToKPIGreenEnergy

EmmveePhotovoltaicPowerPvt Ltd aleadingnameinsolarpanel manufacturing announcesalandmarksupplyagreementtodeliver 300MWp of Bifacial MonoPERC Solar panels to KPI Green Energy Ltd Thisorder,destinedfora240-megawattsolarplantinGujarat, underscoresEmmvee’srobustpositioninthesolarenergysector

Project>

OrianaPowerTriumphsWith3.93MWSolar ProjectsWorth ₹17.49Crore,UnveilsInnovative 2.75MWFloatingSolarVentureAcrossIndia

In a recent development, Oriana Power Ltd, a renewable energy solutionsproviderhassecuredsignificantorderstotaling3.93MW ofsolarpowerprojects,amountingtoRs17.49crore.Thesediverse projects are spread across three Indian states – Rajasthan, Karnataka, and Haryana, further solidifying the company’s reputation for executing projects on a pan-India scale. The standout among these orders isa2.75MWFloating Solar project valued at approximately Rs 13.6 crore, commissioned by a wellestablished cement company in Rajasthan. The Engineering, Procurement, and Construction (EPC) phase for this innovative projectisanticipatedtoconcludewithinthenextfivemonths.

ACME,SolalitePower,SprngEnergy,Juniper Green,AndAvaadaSecureVictoriesInNTPC’s 1500MWWind-SolarHybridPowerProjects Auction

In a significant development for India’s renewable energy landscape, NTPC Ltd. recently completed a highly competitive bidding process for the procurement of Wind-Solar Hybrid power under Tranche-1 (ISTS), open for development anywhere across thecountry.Thetender,withacapacity of1,500MW,reachedits climaxinareverseauctionconductedonDecember27,2023.

AdaniGreenSecuresPPAPartnershipForEntire 8,000MWSECITenderWithManufacturing

Adani Green Energy Ltd (AGEL), a prominent player in renewable energy in India and globally, has finalized a power purchase agreement(PPA)withtheSolarEnergyCorporationofIndia(SECI) to supply 1,799 MW of solar power. This agreement marks the completion of AGEL’s power offtake commitments for the entire 8,000 MW manufacturing-linked solar tender awarded by SECI in June2020.Notably,thistendermadehistoryastheworld’slargest solartender.

VikramSolarSecuresContractToSupply152MW ModulesToNTPC

Vikram Solar, a prominent module manufacturer in India, recently disclosed a groundbreaking development—a substantial order agreementwiththeNationalThermalPowerCorporation(NTPC)to deliver 152 MW of high-efficiency Crystalline Bifacial Solar PV ModulesatNokhRajasthan.

SunsureEnergyAndSandozIndiaCollaborateOn 20MWpSolarPowerDealForSustainableEnergy Supply

Sunsure Energy, a prominent player in India’s renewable energy landscape, has forged a strategic partnership with Sandoz India. The agreement entails the supply of more than 31 million units of eco-friendlyenergyannuallyoverthenext25years.

WaareeEnergiesAndIRCONRenewablePower UniteFor200MWPVModuleSupplyInKarnataka

In a significant move towards bolstering India’s renewable energy sector,WaareeEnergiesLimited,aprominentplayerinthefield,has recently joined forces with IRCON Renewable Power Ltd The collaboration aims to supply more than 200 MW of solar PV modules falling under the DCR (Domestic Content Requirement) category

TataPowerRenewableEnergySecures200MW FDREProjectWithSJVNLimited

Tata Power Renewable Energy Limited has secured a Letter of Award (LOA) for a 200 MW Firm and Dispatchable Renewable Energy (FDRE) project in collaboration with SJVN Limited (SJVN) a key public sector player in hydroelectric and renewable power Designated as the Renewable Energy Implementing Agency (REIA) byMNRE,SJVNiscrucialtoachievingthenation’s500GWtargetby 2030

GUJARAT'S VISION FOR A GREEN ENERGY FUTURE

In recent years, Gujarat has emerged as a frontrunner in India's pursuit of a sustainable and green energy future. With a strategic vision and concerted efforts, the state is paving the way for a cleaner and more environmentally friendly energy landscape. The road ahead for Gujarat is illuminated with the promise of renewable energy, showcasing a commitment to reducing carbon footprintsandfosteringsustainabledevelopment.

One of the key pillars of Gujarat's green energy vision is its ambitious renewable energy targets. The state has set an ambitiousgoaltoharnessasignificantportionofitsenergyneeds from renewable sources by promoting solar and wind power projects. Gujarat has been at the forefront of solar energy adoption, leveraging its vast expanse of arid land to set up solar parks. These parks not only contribute to the state's energy needs but also position Gujarat as a renewable energy hub on the nationalstage.

Wind energy, too, plays a vital role in Gujarat's green energy roadmap. The state boasts a long coastline, offering ample opportunities for harnessing wind power. Wind farms along the coastal regions have become a common sight, generating clean energy and reducing dependence on conventional power sources. Thegovernment'sproactivepoliciesandincentivesforwindenergy projects have attracted investments, further propelling Gujarat towardsitsgreenenergytargets.

Gujarat's commitment to sustainability extends beyond electricity generation. The state has embraced energy efficiency measures across various sectors, including industries and transportation. Incentivesforindustriesadoptingenergy-efficienttechnologies

and practices have been introduced, encouraging businesses to align their operations with the principles of environmental responsibility.

The promotion of electric vehicles (EVs) is another noteworthy aspect of Gujarat's green vision. The state has been actively developing the necessary infrastructure, such as charging stations and supportive policies, to encourage the adoption of electricvehicles.Thismovenotonlyreducesthecarbonfootprint associated with transportation but also aligns with the global trendtowardssustainablemobility.

Furthermore,Gujaratisinvestinginresearchanddevelopmentto explore innovative solutions for clean energy. Collaborations with academic institutions and the private sector are fostering an environment conducive to technological advancements in renewableenergyandsustainablepractices.

While Gujarat has made commendable progress on its green energy journey, challenges remain. The intermittent nature of renewable energy sources poses a challenge to grid stability. To address this, the state is exploring energy storage solutions and smartgridtechnologiestoenhancereliabilityandefficiency.

In conclusion, Gujarat's vision for a green energy future is a testament to its commitment to sustainable development. Through a combination of ambitious targets, supportive policies, and investments in technology, the state is navigating the road ahead towards a cleaner and greener energy landscape. As Gujarat continues tolead by example, itinspires other regions to followsuit,fosteringacollectiveefforttowardsamoresustainable andenvironmentallyconsciousfuture.

LONGimaintainsAAAstatusfor16thconsecutive quarterinPVModuleTechBankabilityRatings

LONGi has maintained its top AAA rating in PV Tech’s latest PV ModuleTech Bankability Ratings underlining the company’s sustainedexcellenceinbothperformanceandfinancialstability

Each release of the report involves comprehensive analysis and benchmarkingofmanufacturers,evaluatingtheirstrengthinterms of aspects including value chain, production, global module shipmentprofile,capexandR&Dspend Financialfactors,including cashflow,debt,valuation,profitabilityandturnoverarealsotaken intoaccount

LONGi's 16th consecutive AAA rating serves as testament to the widespread trust placed in the company's overall strength by domestic and international financial markets, third-party institutionsandthephotovoltaicindustryatlarge

As a world-leading solar technology company LONGi has a longterm focus on customer value and is dedicated to technology innovation It now holds two cell efficiency records: 339% for the efficiency of crystalline silicon-perovskite tandem solar cells, and 2709% for the efficiency of crystalline silicon heterojunction backcontact(HBC)solarcells

The company has also upgraded the branding of its distributed products to Hi-MO X6 to highlight its commitment to the enhancement of the user experience globally Based on highefficiencyHPBCcelltechnologyandfeaturingafrontalbusbar-free design theHi-MOX6designmaximizesutilizationofincidentlight

reduces optical losses, enhances conversion efficiency and consequentlyoptimizesLCOE ThestandardversionoftheHPBC cell has achieved an efficiency breakthrough of 255%, while HPBC+ cell efficiency exceeds 258% Equipped with this cuttingedge technology, Hi-MO X6 shows a 6%-10% improvement in powergenerationperformancecomparedtotraditionalmodules With a maximum module efficiency of 233% the product sets a newvaluebenchmarkfortheglobaldistributedmarket

Looking ahead LONGi remains committed to continued innovation,inordertoprovideadvancedandreliablesolutionsto meetthegrowingenergydemandsworldwide

AboutLONGi

Founded in 2000 LONGi is committed to being the world’s leading solar technology company focusing on customer-driven valuecreationforfullscenarioenergytransformation

Under its mission of 'making the best of solar energy to build a greenworld',LONGihasdedicateditselftotechnologyinnovation and established five business sectors, covering mono silicon wafers, cells and modules, commercial & industrial distributed solarsolutions,greenenergysolutionsandhydrogenequipment Thecompanyhashoneditscapabilitiestoprovidegreenenergy andhas,morerecently,alsoembracedgreenhydrogenproducts andsolutionstosupportglobalzerocarbondevelopment www.longi.com/en

TheHi-MOX6Series–Stunningdesignandhighefficiency exclusivelydedicatedtotheDGmarket

LONGi has announced an upgrade to the branding of its distributedproducts-Hi-MOX6-highlightingitscommitmentto the enhancement of the user experience globally. Hi-MO X6 module, designed for distributed scenarios, adopts advanced HPBC cell technology, and is committed to delivering a superior experiencefordistributedcustomers.

Having undertaken a thorough analysis of customer needs and expectations, the company has long recognized the market's requirementforthecombinationofqualityandinnovation,aneed addressedbytheHi-MOX6module,whichincorporatesadvanced HPBC cell technology specifically designed for distributed scenarios.

The Hi-MO X6 has been meticulously developed by LONGi's product team over two years of exhaustive end-user research, withtheresultbeingatailoredsolutionforthedistributedmarket combining ultimate efficiency, maximum safety, and seamless integrationwitharchitecturalaesthetics.

Built upon high-efficiency HPBC cell technology, featuring a frontal busbar-free design, the product's design maximizes the utilization of incident light, reduces optical losses, enhances conversionefficiency,andconsequentlyoptimizeslevelizedcostof energy(LCOE).

The efficiency of the standard version of HPBC cell climbs to 25.5%, and the efficiency of the HPBC+ cell reaches to 25.8%. For Hi-MOX6,theadoptionofthistechnology,bringscustomersa

6%-10% increase in power generation performance compared to traditional modules and a 23.3% maximum efficiency in mass production, delivering unparalleled value gains to customers. In other part of the world where already Hi-MO X6 has stated performing, LONGi team has observed better generation yield in rooftopinstallationsthanothernewertechnologies.

GoodWe India's Remarkable Journey: Unveiling the Key Factors behind 8 Years of Success in the Solar Industry

Canyouprovideinsightsintothekey factorsthathavecontributedto GoodWeIndia'ssuccessinthe Indiansolarindustry,particularlyin termsofsalesgrowthandmarket penetration?

GoodWe has started doing business in IndiainYear2016,overthatpast8Years we have consistently maintain our position in India market with diversified customers from residential, C&I and utilitysegment.Overthismanyyearsour customershaveshownimmensefaithon GoodWeproducts&technology.

Regardstokeyfactorswecansaythatin recent days where competition is to secureL1positionfromcommercialpoint of view, GoodWe has secured & maintained our Position as Q1 i.e. Quality wise no. 1 & delivering best service support to all our existing & new customerswithrepeatedorders.

InIndiatilldate,wehavetotalcumulative installations of 3GW+. GoodWe always believe that Indian market gives value to best quality products which not only match recent trends but also quality. GoodWe’s superior technology & unmatchedqualityisthekeyfactorforto maintain strong position in India over thosepastmanyyears.

Congratulationsonlaunchofthe 350-kWutility-scaleinverter!Can yousharesomekeyfeaturesand benefitsthatsetthisproductapart inthemarket,andhowdoyou anticipateitwillmeettheneedsof customersintheIndiansolar industry?

Yes, we have launched a new productGW350K-UT,whichhasdeliveredoutput 352kVA@40°C/320kVA@45°C/ 300kVA@50°Crespectively

AniketSawant

RegionalSalesHead:West&CentralIndia, GoodWe

KEY HIGHLIGHTS

InthedynamiclandscapeoftheIndiansolarindustry,GoodWeIndiahasmaintained itspositionbyprioritizingquality,technology,andunmatchedcustomerservice.

Our PAN India distributor network and strategic warehouse locations exemplify our commitmenttomeetingcustomerrequirementspromptlyandefficiently

GoodWe'sstrategicgrowthinvolvesreachingeverycorneroftheIndiansolarmarket, beitresidential,commercial&industrial(C&I),orutilitysegments

Main feature of this product is @50 degreedeliveringoutputpower300KW& having total 15MPPT. Along with this we have upgraded our PLC communication device SCU 3000 to achieve fast and stable data transmission while ensuring highreliabilityoftheproduct.

Arethereparticularregionsor segmentswithintheIndiansolar marketthatGoodWeIndiais focusingonforstrategicgrowth, andwhatconsiderationsdrivethese marketprioritizations?

With our Regional Sales team, PAN India distributor network, multiple Sales & servicewarehouseatcriticallocations,we alreadypreparedtomeettherequirement ofcustomerwithstipulatedtimeframe.

GoodWeisamongthefewbrandsinIndia who caters demand of all segments whether its residential segment, C&I or Utility.

If we talk about strategic growth, in the upcomingyearourstrategyistoincrease our footprint in all segments with our completeproductportfolio.

Giventhedynamicnatureofthe solarindustry,howdoesGoodWe Indiaplantostaycompetitiveand innovativeinthemarketwithfuture productdevelopmentsandupdates

Indian market will always remain competitive.Overthepastmanyyears,we have witnessed so many technological shifts whether it's for Inverter or module technology. As a manufacturer for us it's always an opportunity to upgrade our product at regular interval with recent trends&demand.

As a global manufacturer, GoodWe views the dynamic nature of the Indian market as an opportunity for technology upgradation, staying ahead of the curve in product development.

Whenwementioned thedynamic nature of the solar industry, we also must consider it’s an opportunity to developed new technology & drive the market with that technology. As a global manufacturer GoodWe always consider thisdynamicnatureofIndiamarketasan Opportunityfortechnologyupgradation.

We are also ready with Single Phase & Three phase Hybrid Inverter to cater to the demand of the market, and we also have long term planning to increase the portfolioinHybridInverterlikewiseourPV inverter.

GoodWeIntroducesItsFirstSmartCowshed ProjectinIndia,PoweredbyGW100K-HT Inverters

InaninitiativethatresonateswiththespiritofIndianGovernment's vision of “Atmanirbhar Bharat” (self-reliant India), GoodWe, a leading player in solar inverter and energy solutions, announces a 500KWp Solar Project in India. This project marks the company’s first smart cowshed in the country, showcasing a potential model forenergyindependenceinthenation'sdairysector.

Commissioned in collaboration with EPC leaders Sunprime Energy Solutions and powered by GoodWe's GW100K-HT Inverters, this projectisasignificantendeavorthatnotonlyreducesdependency on conventional energy sources but also generates additional economic benefits. The smart cowshed is situated at Dabar Hare KrishnaGowshalainNajafgarh,NewDelhi.

Since its commissioning, the solar project has significantly diminished the carbon impact, equivalent to planting as many as 14,000 trees Generating over 60 MWh of clean energy to the grid every month, it also leads to additional monthly income, contributing to better provision of food and shelter for the 5000 cowswhoinhabitthecowshed.

TheheartofthistransformativeprojectarefiveGoodWe'scuttingedge GW100K-HT inverters, equipped with features designed to enhance energy savings and productivity in solar installations. What sets the GoodWe inverters apart is their robustness and resilience to harsh environmental conditions. The feature of IP66 and C5 protection ensures the reliability and safety of the photovoltaicsystem.

TheownerofDabarHareKrishnaCowshelterremarked,“Wehave been using the plant for the past year, and the results have been impressive.Suchsolarpowerprojectspavethewayforitsextension nationwide,whichshouldbeinstalledineverycowshelter.”

The launch of the smart cowshed project is a celebration of innovation, sustainability, and self-reliance. It serves as a testament to GoodWe’s commitment to sustainable development that extend beyond human communities. Embracing an energy transitionapproachmindfulofanimalwelfare,GoodWeispleased toplayapartinthistransformativejourney.

AboutGoodWe

GoodWe is a world-leading PV inverter manufacturer and smart energysolutionproviderlistedonShanghaiStockExchange(Stock Code: 688390). The company has more than 4,600 employees worldwideandhasatrackrecordofover52GWofinstallationsin over100countriesandregions.GoodWeoffersanextensiverange ofproductsandsolutionstailoredforresidential,commercialand 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, pleasevisitgoodwe.com.

FEATUREDTALKS

Future-Ready Solutions: SOFAR's Role in Shaping India's Solar Energy Landscape

Canyouprovideanoverviewof SOFAR'scurrentpositionand strategyinthesolarPVinverter market,specificallyinIndia?

SOFAR established a presence in various markets including India, where the solar industry has been growing rapidly Currently,theutilitysegmentcontributesto the major growth of the Indian RE industry Speaking of the market strategy C&I and the utility sector have always been our focus

Since we entered India in 2016, we've established a professional office and local service center in Ahmedabad, Gujarat to serve our customers better Thanks to the experienced team covering sales and technicalsupport ourshipmenttoIndiahas reachedover27GWbyH12023 Meanwhile driven by the optimistic expectation in upcoming C&I and small-scale utility applications,wealsointroducedthebrandnew 100-125KTL-G4 and PowerMega (350KTLX0)tolocalcustomersduringREI

Whataretherecentupdatesor milestonesachievedbySOFARin termsofproductdevelopment, marketexpansion,orstrategic partnershipswithintheIndian market?

SOFAR adopts an active approach to new product innovation through R&D, which plays a significant role in penetrating the market.

Astheresultoftenyearsofexplorationand independent R&D, SOFAR has won recognition from industry partners since it entered the Indian market from residential to C&I and utility sectors. During the Powering Forward New Product Launch, SOFARsignedMoUswithdifferentpartners.

JesseLau

HeadofSOFARAPAC&MEA

KEY HIGHLIGHTS

InthesunlitcorridorsofIndia'ssolarmarket,SOFARshinesbright,deliveringover2.7 GWofenergysolutionswithafocusonC&Iandutilitysectors.

SOFAR's latest 350kW PowerMega redefines utility PV, combining efficiency, safety, anduser-friendlinesstosetnewstandardsinthesolarinverterlandscape

SOFAR's strategic focus on storage aligns with the future of solar energy, offering solutionsthatnotonlyshavepeaksinlarge-scalePVplantsbutalsoenhanceoff-grid utilizationforC&Iprojects.

In July SOFAR forged a 100MW contract of supplying 255KTL-HV utility string inverters for solar plants in Tamil Nadu with Velan Infra, a reputed company engaged in the business of setting up solar power projects across India The commissioning of the entire 100MW project is expected to be completedbyNovember2023

Couldyouhighlightsomekey featuresandinnovationsofSOFAR's latestPVinverterproductsthatare particularlyrelevantorbeneficial forcustomersinIndia?

WeofferoneofthebroadestportfoliosofPV and energy storage solutions for residential C&I andutilityapplications includingmicro 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 managementsystem

Sincethebeginning wehavealwaysfocused on improving product reliability and being innovativewithindependentR&D Duringthe REI this year, SOFAR launched the 350kW 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 9905% 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 managestosurviveharshenvironmentswith a wide range of working temperatures from -30℃ to 60℃ In addition, it supports I-V scanning,whichallowsforpinpointingfaulty strings thus maintaining stable operation aroundtheclock

Meanwhile, driven by the optimistic growth outlook in upcoming C&I and small-scale utility installations, SOFAR also introduces the flagship 110-125KTLX-G4 to the local audience. Catering to the dominant highpower modules technology in the industry, the inverter combines the advantages of 40A*10MPPTswithultra-highcurrent, which is expected to enable optimal yields in complexterrainsforend-users.Inaddition,it provides comprehensive protection including AFCI, Type-II SPD, and I-V scanning, effectively enhancing system safetyandavoidingpotentialfinancialloss.

Intherapidlyevolvingsolarindustry, whattechnologytrendsdoyou foreseeshapingthePVinverter marketintheIndianmarket,and howisSOFARpositionedto capitalizeonthesetrends?

We’veseentherapidevolutionintheenergy storage solutions and we’ve been offering all-scenario energy storage solutions with various rating PCS, including the utility ESS PowerMaster,andC&IESSPowerIn.

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 differentscenariosincludingutility,C&I,and residential projects. For large-scale PV plants, storage can help shave peaks and improve power quality For C&I projects, it can improve off-grid utilization. Storage technologieswillallowformorereliableand flexible operation of the electricity distribution and transmission grids, enhancing electric power quality and makingrenewableenergyuser-friendly.

BlueOasisinTenggerDesert:SOFARPowers a300MWUtilityPVProjectinGansu,China

Shenzhen, December 22, 2023 – Recently, the 300MW utility project powered by SOFAR has been commissioned. Located in the south edge of China's fourth largest desert Tengger Desert, the plant is expected to generate 540 million kWh of clean electricityannuallyandrestore5.2squarekilometersofgrassland after being fully connected to the grid this week, saving 160,000 tonsofSCEperyear.

More than 1,300 sets of SOFAR 255KTL-HV have been adopted in thisproject.Withamax.efficiencyof99.02%,theinverterdelivers optimal energy conversion and system output for users. Along with IP66 protection and C5 anti-corrosion, the inverter provides robust durability in harsh desert environments. Meanwhile, the inclusion of smart string-level disconnection (SSLD) ensures efficientandsafeoperationbyisolatingfaultystrings,minimizing any potential impact on the overall system performance. In addition, the I-V scanning can accurately locate faulty strings, enablingquickandprecisetroubleshooting.

AboutSOFAR

“The success we achieved won’t be possible without the support fromourpartners.We’redelightedtocollaboratewithSOFARona project of significant scale. To our satisfaction, SOFAR inverters operate stably during the whole process, so we’re convinced about a stable power supply and high yields in the future operation,” says Xiaoyong He, Chief Project Engineer of POWERCHINA,theEPCoftheproject.

Ethan Shi, Head of SOFAR China, believes that the collaboration reflects SOFAR’s strong dedication to contribute to the shared goal of carbon neutrality. “With several ongoing projects in partnershipwithPOWERCHINAnationwide,we’reabletoleverage theirexpertiseandresourcestofurtherexpandourpresenceand make an impact. We welcome the opportunities ahead and look forwardtoachievinggreatsuccesstogether.”

SOFAR is a global leading provider of all-scenario solar and storagesolutionsandcommittedtobetheleaderofdigitalenergy solutions with a comprehensive portfolio, including PV inverters, hybridinverters,BESS,utilityESS,microinvertersystemandSOFAR Monitor smart energy management system for residential, C&I and utility applications. By 2021, SOFAR entered the TOP5 Global Hybrid Inverter Brands, establishing a global R&D network with three R&D centers and two manufacturing bases. In 2022, SOFAR annualproductioncapacityreached10GWforinvertersand1GWh forbatteries.By2022,SOFARhasshipped18GW+invertersto100+ countriesandregionsworldwide.

Learnmore:https://www.sofarsolar.com/

FEATUREDTALKS

Sineng Electric Unveils Cutting-Edge PV Inverters: A Game-Changer in Solar Energy

Whatarethekeyfeaturesthatset aparttherecentlylaunchedproduct, andinwhatwaydotheseunique featurescontributetoenhancing theoverallcustomerexperience?

As a trailblazer in the solar industry, Sineng possesses a dynamic technical R&D team WeatSinengElectricfirmlybelievethatthe success of any technology-driven company hinges on robust R&D support and a relentless commitment to offering innovative products in line with market dynamics Ourrecentbreakthroughinvolves the launch of next-generation PV inverters meticulously crafted for utility-scale applications The SP-350K-INH string inverter features the maximum output powerof352kW MPPTcurrentof45A andis compatiblewithallPVmodules Notably its IP66andC5anti-corrosionratingsenableits adaptability to various harsh environments

Our EP-4400-HB-UD central inverter, characterized by higher power density, supports bigger block sizes With the maximumefficiencyofupto99%andahigh DC/AC ratio it guarantees higher yields while optimizing LCOE Sineng's focus on more power generation unparalleled reliability and safety catapults it to the forefront of the solar energy industry And these products are playing an important role in helping more people to access costeffective,cleanandsustainableenergy

HowdoesSinengElectricplanto positionitsnewproductsinthe SouthIndianmarket?Arethere specificcustomersegmentsor profilesoftheproducttargets?

While 2023 has been a glorious year, the future for solar energy looks exceptionally promising, with a projected market growth ofatleast50%in2024.

As a global leading industry player, Sineng conductsin-depthresearchonIndian

JigarSoni

HeadofSales,SouthIndia, SinengElectric(India)Pvt.Ltd.

KEY HIGHLIGHTS

AsSinengcontinuestopushboundariesandsetnewbenchmarks,itremainsfocused onbuildingagreenerfutureforall.

Our commitment to relentless innovation and robust R&D has given rise to the SP350K-INH,settinganewstandardforutility-scalePVinverters.

Sineng's focus on more power generation, unparalleled reliability, and safety positionsitattheforefrontofthesolarenergyindustry.

market demand Sineng India serves local customers with high-quality reliable and locally manufactured products In doing so we not only meet market demands but also contribute significantly to job creation and foster local economic growth in India Aligned with our strategy, Sineng's target marketinSouthIndiaprioritizesfromUtility, C&Itotherooftopsegment Recognizingthe hyper-growth phase in the market, Sineng stands ready to meet the evolving needs with our latest technological advancements tailoredforbothutility-scaleanddistributed businesses In India, our customer base primarily comprises repeat buyers in the utility-scale segment Sineng offers an attractiveportfoliothatcaterstothediverse requirementsofourvaluedcustomers

Inthecompetitivesolarinverter market,whatspecificadvantages doesSinengElectric'snewproduct offertocustomersinSouthIndia?

Inthedynamiclandscapeofthecompetitive solarinvertermarket,Sineng'slatestproduct addresses the pressing need for lower BoS and O&M costs and ensures maximum energy yields as you can see continuous drop in tariff is putting pressure on Developers and EPCs We acknowledge the criticalimportanceofselectingcomponents that guarantee the optimal performance overtheplant's25-yearlifespan

Thus, Sineng brings the game-changing solution–the44MWcentralinverter tailormade for utility-scale PV systems With higher power density four MPPTs and patented PID solutions, the inverter can generatemorepower Itsmodulardesignat the component level enhances system availability Due to the multi-layered protection capability, including IP65 protection and the C5 anti-corrosion rating, the44MWcentralinverteradaptstodiverse challengingenvironments Moreover with

the ability to withstand continuous low voltageridethrough(LVRT)andhighvoltage ride through (HVRT) conditions, the central inverter shows exceptional stability, even in weakpowergrids.

Canyoushareanyrecentupdates ormilestonesachievedbySineng Electric?Howdothesealignwith thebroadergoalsandvisionofthe organization?

AtSinengElectric,wearedelightedtoshare some recent milestones, such as the 10GW shipments of PV inverters in India. To commemorate this achievement, we hosted an appreciation banquet on December 14, expressing our sincere gratitude to our valued customers and partners for their steadfast support. In the same year, we proudly announced to expand our annual productioncapacityofPCSandBESSbyan impressive 15GW. This expansion not only demonstratesourdedicationtomeetingthe growing demands of the global market but also aligns seamlessly with our broader goalsandvision.

Our technological prowess, business stability, and remarkable market competitiveness havebeenrecognizedona global scale. Sineng has earned a spot on the prestigious BloombergNEF Tier 1 PV inverter maker list, further solidifying our brandinfluenceinternationally.Additionally, we are honored to rank as the top 8 global PVinvertersupplier.

In the Indian market, our commitment to excellence has resulted in us securing the top position as the central inverter supplier. This success is also acknowledged by industry authorities, such as being recognized as the Top 2 inverter supplier in India by both Mercom and Bridge to India. As we continue to push boundaries and set new benchmarks, Sineng remains focused onbuildingagreenerfuture.

SinengElectricCelebratesMonumentalAchievement -10GWofPVInverterShipmentstoIndia

New Delhi, India, December 15, 2023 - Sineng Electric, a global leading manufacturer of PV and energy storage inverters, proudly announced that its cumulative shipments of PV inverters to India have exceeded 10GW To celebrate this exceptional achievement, SinenghostedagaladinnerinNewDelhi,attractingagatheringof esteemedguests Theeventwasablendofnetworking,exploration and discovery, symbolizing Sineng's commitment to translating energyambitionsintoimpactfulendeavors

Recognizing the immense potential of India’s burgeoning solar market Sineng inaugurated a 3GW manufacturing base in Bangalore in 2018 In 2021, the annual production capacity of this facility was expanded to 10GW, underscoring the company's contributiontothe MakeinIndia initiative Withadedicatedlocal workforce of approximately 200 employees, 2 marketing centers, and 4 after-sales service centers, Sineng executes a proactive localizationstrategyfromproductiontoafter-salessupport

AtthecoreofSineng'ssuccessstoryliesanunyieldingpursuitofa uniquevalue-basedmarketingapproachandcontinuoustechnical innovations Substantial investments in research and development and the inclusive culture to nurture talent have brought about groundbreaking advancements in product offerings During the celebratoryevent Mr BharatKumarMeghwal productapplication head of Sineng Electric India, introduced new-generation products tailored for utility-scale applications The SP-350K-INH string inverter features the maximum output power of 352kW, MPPT current 45A, and is compatible with all PV modules The EP-4400HB-UD central inverter, with higher power density, supports bigger block sizes and ensures higher yields Sineng's focus on optimized LCOE,unparalleledreliabilityandsafetycatapultsittotheforefront ofthesolarenergyindustry

The highlight of the event was the eagerly awaited panel discussions which brought together industry professionals and thought leaders to delve into pressing topics Mr Arun Chaudhary Sales Head of Sineng Electric North India shared insightful perspectives on the cost-effectiveness of utility-scale PV, challenges,andsolutionsforintegratingsolarenergyintogrids,and exploredthelatesttechnologiesandtrendsshapingtheindustry

QiangWu,ChairmanofSinengElectric,asserted,"Wetakegreat pride in what we have accomplished Over the last six years, we have navigated challenges, embraced opportunities and ignited growth AtSineng,oursuccessisintricatelywovenwiththatofour partners Contributingtothetaskoffuelingtheenergytransition remains a pivotal aspect of our mission We look forward to ongoing collaboration with industry-leading EPCs, developers, and stakeholders in the solar energy sector accelerating India's journeytowardssustainability”

AboutSineng

SinengElectricCo Ltd isagloballeadingsupplierofPVinverters andenergystoragesystems,cateringtoutility-scale,commercial &industrial,andresidentialapplications ByestablishingfourR&D centersandleveragingtop-notchresources,Sineng'sunwavering commitment to technological innovation has enabled more peopletoaccesscost-effective,reliable,andsustainableenergy After the three global manufacturing bases being put into operation,theannualproductioncapacitycannowreach40GW Knownforitsengineeringexcellence,rigoroustestingstandards, and consistent quality, Sineng is a market leader in the industry and plays an important role in accelerating the global energy transition strivingtobuildagreenerfuture

DiscoverGrowatt’sLatestProductLineup toPresentattheSmarterE India2024

Scheduled for February 21-23, 2024, the upcoming edition of ‘The SmarterEIndia’,apremierexhibitionandconferenceinthesolar industry, will be hosted at the Helipad Exhibition Centre in Gandhinagar, Gujarat, India. Growatt is gearing up to unveil a rangeofinnovationsduringtheeventatboothD115.

Founded in 2011, Growatt is a global leading distributed energy solution provider, specializing in sustainable energy generation, storageandconsumption,aswellasenergydigitalization.Itisthe world’sNo.1residentialsolarinvertersupplierandglobaltop4C&I solar inverter supplier. To date, Growatt’s business has spanned across180countriesandregions.“Wehaveoperatedourbusiness in India for a decade and set up five representative sites around the country. By offering cost-effective solutions and promoting localmanufacturingandemployment,Growattproudlyadvances India’s energy transition and socio-economic development”, said RucasWang,theAsianPacificDirectorofGrowatt.

Rucasstated“TheSmarterEIndiaexhibitionservesasaplatform to establish alliances and cultivate business network, and especially a stage for us manufacturers to display a set of innovative solutions.” Two fresh products of Growatt will make their debut in the India market: one is ‘MAX 150KTL3-X LV’ C&I string inverter that not only provides better generation efficiency butalsoenablessignificantcostsavingsforbusinesses.Theother isNEOmicroinverter series, ‘NEO2000M-X’ and‘NEO1000M-X’, a perfect solution for small rooftops, balconies or more complex residentialscenarios.

Other products that will be showcased include on-grid C&I PV inverters, MID 33-50KTL3-X2 and MAX 100-125KTL3-X2 LV, WIT 50100KTL3-HU/AU designed for the commercial energy storage market, THOR EV charger available in AC and DC versions, and residential PV inverter, MIC 1000-3300TL-X2 and MIN 42006000TL-X2,etc.

“Overtheyears,Growatthasconsistentlyexpandeditsofferingsin India, bringing the most tailored solutions and advanced technology to clients. The expo will be a perfect occasion to engage with us and discover our latest product and the exciting line-up for the Indian market. Welcome all visitors to visit our booth at D115 and Growatt professional team is eagerly awaiting yourarrival”,saidRucas.

As the world's No.1 residential solar inverter supplier, Growatt continues to set the standard for excellence in distributed energy solutions Its extensive presence spanning 180 countries and regions underscores its global leadership and unwavering dedication to sustainable energy generation.

LargerInputCurrentCapacity:Growatt

IntroducesNewGenerationofMAXInverter SeriesForC&ISegment

Thedemandforsolarpanelswithhigherpoweroutputscontinues togrow,drivenbytheneedformoreenergygenerationinlimited spaces, such as commercial and industrial scenarios. Ongoing development of solar cell technologies have contributed to the development of high-current modules. Growatt recognizes the necessity for inverter technology to progress in tandem with advancementsinpanel-leveltechnology.

The MAX 100~125KTL3-X series of inverters from Growatt have gained widespread acceptance in both Indian and global markets. Due to the remarkable success of this product, Growatt has introduced an enhanced version, the MAX 100~125KTL3-X2. This upgraded model features 8 MPPTs with an increased input currentcapacityof45AperMPPTi.e.22.5Aperstring.Asaresult,it becomes easier to integrate higher watt-peak panels and bifacialpanelsintoyoursolarsystem.

The MAX-X2 inverter enables a DC/AC ratio of up to 200%, contributing to a lower Levelized Cost of Energy (LCOE) for PV plants. With a broad MPPT range spanning from 180V to 1000V, theinvertercaninitiateoperationearlyinthemorningandextend itsfunctioningintothelateevenings,therebymaximizingthetime availableforsolarenergyharvesting.Growattensuresoperational safety by incorporating Type II Surge Protective Devices (SPD) on both DC and AC sides, a fuse-free design an integrated DC switch, IP66 protection, and additional safety features such as optionalactivearcingprotection(AFCI)andbuilt-inPIDrecovery.

Growatt provides a comprehensive monitoring solution designed for remote tracking, which empowers businesses to make informed decisions by leveraging the insights gathered from the monitored data. Growatt streamlines the control of numerous inverters through its Smart Energy Manager, capable of implementing system export limitation and PF control. For end users, Growatt has introduced ShinePhone and ShineServer, allowingthemtomonitorsystemoperationsatanytime.

Additionally, the company offers an OSS (Online Smart Services) systemforinstallersanddistributors,facilitatingconvenientonline services like intelligent I/V scan and diagnosis, remote configuration,andfirmwareupgrades.Thisapproachenablesthe resolution of 60% of issues without the need for on-site visits, effectivelyloweringoperationandmaintenancecosts.

In conclusion, Growatt’s innovative MAX 100~125KTL3-X2 inverter series, with its enhanced features like a higher input current capacity, all-compassing O&M solutions, and enhanced safety, is poised to be a game-changer in the solar industry. With its presenceintheIndianmarket,Growattcontinuestodemonstrate its commitment to making sustainable power generation more accessibleandefficientforbusinessesandusersalike.

product launch

WaareeunveilshighlyefficientN-type TOPConPVmodules

WaareeEnergiesLimited(WEL)isIndia’slargestsolarPVcompany with12GWofoperationalannualmodulemanufacturingcapacity. Waaree has its presence in over 388+ locations nationally and 20 countries internationally. WEL strives to provide high quality and cost-effectiveenergysolutionsinrenewablesector.Waaree’sR&D teamandqualitycontrolteamisconstantlyworkingsinceyearsto providehighlyefficient highquality,reliableandcost-competitive products and services in green energy domain. Advanced technology adoption, design, strong process control, flexibility, recycling inception, accelerated performance and reliability testing are the important pillars which has helped Waaree to emergeastechnologyleader,acontinuousperformer(beingrated asTier1modulemanufacturerbyBloombergNEFsincepastmore than 33 quarters) and the largest PV module manufacturer in India.Waareeisaimingtobeself-reliantbyyear2030.

WEL have launched highly efficient and most advanced TOPCon N-type PVmodules inM10andM12configurations inboth Bifacial glass to glass and mono-facial variants. WEL was the first Indian companytolaunchN-typeTOPConPVmodulesinSPI(SolarPower International)2022Anaheim,USAandREI(RenewableEnergyIndia Expo)28th-30thSept2022,GreaterNoida,India.

TOPCon(TunnelOxidePassivatedContact)whichisconsideredto be the next generation of solar cell technology consists of additional tunnel oxide layer and doped poly-Si layer for better passivation andimproved performance. TOPCon N-type solar cell basedmoduleshavecertainadvantagesoverconventionalP-type MonoPERCmoduleslistedasunder:

High efficiency and high wattage modules with better performanceandreliability.

Lower temperature coefficient -0.3 to -0.31 %/°C as compared to Mono PERC modules -0.34 to -0.35 %/°C thereby lower temperaturelossesandhigherenergyyield.

Excellentanti-PIDperformance.

Lower first year degradation rate around 1% as compared to 2%inp-typeMonoPERCmodules.

ZeroLIDandlowerLeTIDlossesduetophosphorousdoping(no boron-oxygendefects).

Lower year on year (YOY) degradation rate of -0.4% as comparedto-0.55%forMonoPERCmodules.

Waaree’s Elite series (N-type TOPCon) Glass to Glass, Glass to Transparent back sheet and Glass to Backsheet M12 210 mm cell sizebased670-700Wp(132cellsbased)and610-630Wp(120cells based)andM10182mmcellsizebased605-635Wp(156cells)and 560-590Wp(144cells)MBBBi-facialandMono-facialPVmodules offer highest reliability, enhanced crack tolerance, high power output,best-in-classthermalcoefficientof-0.31%/⁰C,lowresistive losses, PID resistant, certified with advanced mechanical load testinganddurabilitytestinginextremeclimaticconditions.

Bifacial-(G2G&G2TB)&

Bifacial-(G2G&G2TB)& Monofacial(G2B)modules

Bifacial-(G2G&G2TB)&

Bifacial-(G2G&G2TB)&

WEL offer 12 years product warranty and 30 years performance warranty on N-type TOPCon Bifacial modules. Waaree’s N-type TOPCON modules will result in more energy generation and are the optimal solution in MW scale ground mount PV installations withbetterROI.

Ginlong(Solis)Technologies:PioneeringExcellencein PVInverterBrandswithBNEFTier1Recognition

In the vibrant city of Ningbo, China, Ginlong (Solis) Technologies, recognized as one of the foremost and largest inverter manufacturers globally, proudly declares its inclusion in the esteemed BloombergNEF Tier 1 PV Inverter Manufacturers list for the fourth quarter of 2023 This noteworthy acknowledgment signifies a momentous achievement for Solis, highlighting the company'sunwaveringdedicationtoexcellence,innovation,anda worldwideimpact

The Tier 1 ranking stands as a testament to the company's steadfast commitment to delivering technology characterized by unparalleled quality and reliability This commitment is demonstrated through exceptional performance in globally recognizedprojectsandarobustbankabilityprofile

LucyLu,thedeputygeneralmanageratGinlong(Solis),sharedher thoughts on this accomplishment, stating, “This year marks the 18th-anniversary milestone for Solis Throughout these years, our mission has remained unchanged: 'Developing Technology to PowertheWorldwithCleanEnergy'Inpursuitofthisgoal,wehave consistently pushed the boundaries of innovation resulting in incredible accolades such as this Tier 1 ranking The recent announcement underscores the relentless effort of our 4500+ person's strong team and 800+ R&D innovators strategically placed across the globe We are more motivated than ever to continue propelling advancements that will shape the future of cleanenergy

Solis technology is meticulously optimized for local markets, offeringsubstantiallong-termreturnoninvestmentandexpediting the transition to a more sustainable future With a vertically integrated, state-of-the-art manufacturing capability, Solis exercises control over the entire production process – from component sourcing to product distribution This ensures the highest possible quality standards for customers and compliance withthemoststringentinternationalregulations

AboutGinlong(Solis)

Established in 2005, Ginlong (Solis) (Stock Code: 300763SZ) is the world'sthird-largestPVinvertermanufacturer Providingsolarand energy storage solutions for residential commercial and utilityscalecustomers Solisdeliversvalueacrossthesolarsupplychain The Solis brand employs innovative string technology ensuring top-tier reliability validated through rigorous international certifications

By integrating a global supply chain with leading R&D and manufacturing capabilities, Ginlong tailors Solis inverters to regional markets, with local experts offering exceptional service and support The company's proven bankability has earned support from leading financial institutions, ensuring robust, longterm returns on investment Collaborating with stakeholders, Solis remains committed to accelerating the world's journey towards a sustainablefuture

FIMERIndiaShines:APinnacleYearinSolarTech Leadership(2023Recap)

FIMERisthrilledtohighlighttheremarkablemilestonesachievedin 2023,markingaphenomenalyearofgrowthandpositioningusfor aquantumleapinperformance

Throughout 2023, India's leadership at the G20 table and the Indian Space Research Organization's groundbreaking venture to the Moon's South Pole set the stage for unprecedented achievements Inparallel FIMERsecureditsfirstmajororderofthe year a substantial 245 GW contract from a single client at a specific location in India Notably this milestone involved the successfulclosureoftheNTPCPhase1&Phase2Khavdaproject utilizingFIMERPVS-9805MWinverters,solidifyingourstatusasone of the few Class-1 suppliers approved by NTPC for such projects Anticipated to be installed and commissioned by Q3, 2024, this projectrepresentsasignificantstrideforFIMER

In the realm of order bookings, FIMER soared to new heights, surpassing the 5GW milestone this year The reputation of our brandandthequalityofourproductsareevidentinthenumerous repeat orders received from esteemed clients such as Sterling & Wilson Amaraja Avaada Jackson Honeywell and international giantslikeHitachiSweden Thisachievementreflectsaremarkable doublingofourgrowthin2023 clockingover5GW+ comparedto 25GW+insalesduring2022

FIMER emerges as a frontrunner in manufacturing converters for Battery Energy Storage Solutions (BESS) systems, having successfully supplied over 500MW+ of BESS projects within and outside India Notable projects include the 6MVA/18MWHr BESS project at Modhera, Gujarat, contributing to the solarification of the temple town Additionally, FIMER played a pivotal role in the transformation of Sanchi, a UNESCO World Heritage site in MadhyaPradesh,intoIndia'sfirst"solarcity"Thecompletionofa3 MWsolarplantisexpectedtoreducecarbondioxideemissionsby over14300tonnesannually withFIMERsupplyingcentralinverters PVS980-58forprojectscommissionedbyGoldiSolarPvt Ltd

FIMER's historic contribution extends to supplying a 1MW/MVA BESSconverterfora1MWsolarcoupledwith1MWhrBESSatthe

Indian Army military base camp in Ladakh The robustness and durability of our converters proved ideal for extreme cold conditionsatanaltitudeexceeding3500m

In support of corporate sustainability goals, FIMER supplied BESScompatibleinvertersPVS980-58BC2MVAtotwoCapgeminioffice campuses Furthermore, a 35 MW BESS system was installed by Arcedo System in Mumbai and a 25 MW system was commissionedbyReplusEngitechinNoida bothin2023

FIMER proudly showcased its flagship products the "Central Inverters PVS98-58 series" and BESS Converter "PVS980-58 BC" series, at major events in India throughout the year Excitingly, FIMER is set to launch the country's highest-capacity BESS converter,boastinga5MVAcapacity,in2024

Recently, FIMER supplied Bidirectional Converters (BC) FIMER PVS980-58BC1MVAtoHoneywellforaprojectinLakshadweep The region's first on-grid solar project with a cutting-edge Battery Energy Storage System (BESS) was inaugurated by Prime Minister Narendra Modi in January 2024 Developed by the Solar Energy Corporation of India (SECI) through Sunsource Energy this transformativeinitiativespanstheislandsofKavarattiandAgatti boastingacombinedsolarcapacityof17MWandasophisticated 14MWhbatterystoragefacilityatKavaratti

FIMER is contributing to the mission of turning Ayodhya into the firstsolarcityofUttarPradeshbysupplyinginvertersfora40MW solarprojectbeingdevelopedbyNTPC FIMERsupplieditsflagship central inverters PVS980-58 5MVA for total 40MW of this project Around 104,580 solar panels will be installed in this project by JaksonGroup

Acknowledgingourcommitmenttoexcellence FIMERreceivedthe prestigious "Solar+ Storage Project-Inverter Provider of the Year 2023" award for the Modhera project from a leading media house in the country Additionally Shri KN Sreevatsa the Managing Director of FIMER India, was honoured as one of the top 100 influential tech leaders in the solar industry for the year 2023 by SolarQuarter These accolades underscore FIMER's dedication to innovation,sustainability,andindustryleadership

Navitas Solar: Quality Assurance, Certifications & 11-Year Production Journey

HowlonghasNavitasSolarbeenin thesolarPVmodulemanufacturing andsupplybusinessinIndia,and whatisyourmarketpresence?

Navitas Solar has been in the solar PV module manufacturing since last 11 years We have started our journey with manufacturing capacity of 75 MW pa and now we are able to expand the capacity to 17 GW pa We are amongst the top 10 module manufacturers in India featured by JMK Research & Analytics We also have completedapproximately20MWofprojects underoursolarEPCservices

Our journey began 11 years ago, and today, Navitas Solar stands tall with a manufacturing capacity of 1.7 GW p.a.

Couldyouprovideanoverviewof thesolarPVmodulesNavitasSolar manufacturesandsupplies?What makesyourproductsuniqueinthe market?

We are offering poly crystalline modules, Mono PERC modules and TOPCon modules in terms of technology. In Mono PERC Half Cuttype,NavitasBonitooffersmodulesin10 BB 144,156 cells generating power from 435 to 600 watts. We also have Navitas Bifacial in Mono PERC Half Cut type that gives 30% more generation because of bifaciality. These modules can generate power from the backside of the panels also. Navitas Bifacial is available in 12 BB, 132 cells that can generate power from 660 to 680 watts. OurlatestlaunchisN-typeNavitasTOPCon whicharenextgenerationmodulesthatcan generatepowerupto720wattsperpanel.

VineetMittal

Director-Finance&Strategy, NavitasSolar

KEY HIGHLIGHTS

Our journey began 11 years ago, and today, Navitas Solar stands tall with a manufacturingcapacityof1.7GWp.a..

NavitasSolar,featuredamongIndia'stop10modulemanufacturersbyJMKResearch &Analytics,isatestamenttoourmarketpresence

Ourlatestlaunch,N-typeNavitasTOPConmodules,cangenerateupto720wattsper panel,settingnewbenchmarksforefficiencyandperformance.

Howdoesyourcompanyensurethe qualityandreliabilityofitssolarPV modules,andarethereany certificationsorstandardsthatyour productsadhereto?

OurUSPisayoungteamwhocanadaptthe changes in technology quickly We are focusingonnewtechnologywhileimproving the product continuously Our new lines are at par with the best technology, which will beabletoprovideworld-classmulti-busbar panels We are backed by a very strong in house QA and QC lab We also have technically sound QA & QC team and R&D team who are continuously dedicated towards improving the quality We have our in-house EVA sheet-manufacturing unit as ourbackwardintegrationandwearehugely benefited from it Certainly, there are some standards which we are supposed to follow inmodulemanufacturingindustryandwe’re backed by all the necessary certifications likeALMM ISObyTUVSUD UL IECetc

The trajectory of our production capacity at Navitas Solar reflects our ambition and determination to lead the charge towards a sustainable future From humble beginnings to raising funds of 5 MN USD and onboarding investors in 2023, our growth story is a testament to our vision and resilience.

Whatisthemanufacturingcapacity ofyourcompany'ssolarPVmodules, andhowhasproductionevolved overthepastfewyears?

We have completed 11 years in the industry. It was a wonderful journey full of learnings, projects, excitements achievements and lessons. We have started with 75 MW p.a. followedbyexpansionsof200MW,500MW andnow1.7GWp.a.Wehavestartedwith3 Bus Bar Modules which could generate power from 3 to 250 Watts per panel and now we are manufacturing 10 Bus Bar modules up to 670 watts per panel. In the new manufacturing line, we can manufacture modules up to 20 Bus Bars thatcangeneratepowerupto720wattsper panel. We have raised funds of 5 MN USD andonboardedsomeinvestorsalsoin2023.

Canyouhighlightanyrecent technologicalinnovationsor advancementsinyoursolarPV modulesthatsetyourproducts apartintermsofefficiencyor performance?

In this year, we are starting production of Navitas N-type TOPCon modules which can offerefficiency>22%andgeneratepowerup to 720 watts per panel. We would like to onboard big clients with this new technological shift in the industry. We believe that N-type Navitas TOPCon moduleswillbethechoiceoftheconsumers intheupcomingtime.

FEATUREDTALKS

SMA contributes to a resilient, decentralized, and sustainable energy landscape.

AbhijeetMore

HeadofSales–CommercialandIndustrial, SMAIndia

KEY HIGHLIGHTS

SMAinnovatesforsustainableenergy,drivingIndia'scommercialandindustrialsolar growth.

Connect seamlessly with SMA's support network for enhanced PV system performance.

CORE2:SMA'sgame-changinginverterforbusinessefficiencyandcostreduction.

HowdoesSMASolarcontributeto thegrowthanddevelopmentof Indiansolarpowerincommercial andindustrialsectors?

As a specialist in system technology, the SMA group develops and globally sells systems and solutions consisting of hardware, software and services that allow energy to be efficiently generated and intelligentlymonitored,managed,andused.

SMA entered India in 1996 with its first installation and in 2010 the Indian subsidiary was set up and by 2015 we alreadyreachedthe1GWinstalledbase.

The SMA Commercial Industrial Solution offersIndia’ssolarpowerincommercialand industrial sectors a customer-centric solution that is tailor-made and enables Indian businesses to increase their energy efficiency and reduce their dependency on conventional energy sources. With this solution, businesses can also reduce their energy costs for the long term and regain controlofthem.

PleasetellusaboutyourhighestsellingproductintheIndianMarket, CORE2.

SMA proudly presents its state-of-the-art commercial inverter, the Sunny Tripower Core2, boasting 110 Kilowatts. Tailored for medium to large-scale commercial PV systems, this cutting-edge string inverter, equippedwithAFCI,standsoutasthego-to flexible solution for diverse commercial initiatives,addressingtheintricateneedsof businessclientele.

The Sunny Tripower Core2 has the highest flexibility and integrated features for maximum yields. It offers unmatched flexibility for commercial and large commercial solutions, including rooftop or groundinstallations.ItisacorepartofSMA Commercial Energy Solution and ennexOS, demonstrating future readiness for future business. It will be available as an out-ofthe-box solution with integrated PV performance optimization, ensuring efficientinstallationandcustomerservice.

KeyFeatures:

Innovative plant design, scalable from compact installations to mega-watt ranges.

12 MPP trackers, an industry-leading feature ensuring supreme design adaptability.

A robust 24-string system with Sunclix connectors.

IntegratedArc-FaultCircuitinterrupter Capabilitytoover-dimensionthePVarray byupto150%.

Support reaching up to 1,100 VDC with compatibilityforbifacialmodules.

To secure the most favorable offer, please use the subject line "SQINT2024" when sendinganemailto marketing@sma-india.com

CyberSecurityintherenewable energysectorisagrowingconcern andhowdoesSMApositionitself whenitcomestothis?

Solar power is a central component of any dependable sustainable energy supply. The importance of electric energy increasingly makes power generation and distribution a targetofattacks.Solarpowertogetherwith battery storage or power to gas, and grid forming addresses many of these threats through decentralized generation, fuel independence, low maintenance and long lifetimes.

All these are important elements but not sufficient. To secure the electrical energy supply, this system needs to be operated securelyandsupplychainsecurity.

AndSMAaddressestheseissues.

Our motivation is to protect and secure the electric power supply of the nation and society it is essential to enable our customerstooperatesecurely.

To enable secure operations, SMA as a supplier must be secure. To reach this SMA provides a comprehensive cybersecurity level,forourproductandservicesaswellas forouroperation.

SMAcontinuestobeactivelyinvolvedinthe work of cybersecurity associations and national and international organizations related to the power grid, such as the SunSpec Alliance and the Open Web Application Security Project (OWASP). As security is a constantly evolving target, we continuouslyadaptandimprovethesecurity ofourproductsandouroperations.

TellusabouttheSMA’s advancementswhenitcomesto serviceandsupport.

SMA offers you the perfect services to reap thebenefitsofyourPVsystemoveritsentire servicelife.

SMA customers can reach SMA Service throughmultiplechannelstosupportthem:

SMAWhatsAppChatbot:

Seamlesslyconnectviaourupgradedappat +912261713899

SMAOnlineServiceCenter:

For 24/7 service support register now at www.My.SMA-Service.com

Ourconvenientportalhelpsyousubmityour serviceinquirieswithnowaiting.

Extend the warranty on your products –quicklyandeasilywithjustafewclicks.

Useouronlinetrainingvideostoimprove yourself.

Use our knowledge database to find assistanceforvarioustopics.

ContactourSMAserviceteamdirectlyif youhaveanyspecificquestions.

Track the processing status of your service request and submit a follow-up inquiryifnecessary.

Availablefrom09.30amto6.00pm,Monday toSaturdayat+912261713888.

YoucansecureyourPVsystemnowusingan extended warranty or improve your yields through regular maintenance or complete PV system management (Operations & Maintenance).

To know more about Warranty extension (INDIA) visit: SMAExtended Warranty (smaservice.com)

product launch

NewErainSolarPower:Introducingthe PIXMBHTB144510-545Wp

In a groundbreaking development in the world of renewable energy, PIXON has unveiled its latest marvel - the PIX MBHTB 144 510-545 Wp. This product marks a significant milestone in the company's ongoing commitment to innovation and environmentalsustainability.Aspartoftheall-newBifacialseries whichincludesM6,M10,andM12,thissolarmodulestandsoutwith itsremarkableefficiencyandversatility.

The PIX MBHTB 144 is designed with a cell size of 182 mm and an impressive voltage capacity of 1500 V, setting new standards in the solar industry. What truly sets this product apart is its outstanding efficiency of 21.10%, a testament to PIXON’s dedicationtoharnessingthemaximumpotentialofsolarenergy.

Catering to diverse needs and applications, the series comes in three variants: Glass to Glass, Glass to Backsheet, and Glass to Transparent Backsheet. Each variant is tailored to optimize performance and durability in different environments. The Glass to Glass model is known for its robustness, while the Glass to Backsheetvariantoffersabalanceofefficiencyandlongevity.The Glass to Transparent Backsheet, on the other hand, is a perfect blend of aesthetic appeal and performance efficiency, making it ideal for residential and commercial installations where appearanceisasimportantasfunctionality.

ismorethanjustasolarpanel;it'satestament to PIXON’s commitment to pushing the boundaries of renewable technology. With its advanced features and high efficiency, this solar module is poised to become a game-changer in the global pursuitofcleanandsustainableenergy.

AboutPIXON:

Established in 2019, PIXON is at the forefront of the sustainable energy revolution. Starting with a modest 400 MW, the company hasimpressivelygrownintoa1GWpowerhouseinfullyautomated European technology Solar Module Manufacturing with. PIXON stands out for its commitment to quality and exceptional customerservice.Furtherenhancingitscapabilities,thecompany hasexpandedinto1GWproductionofEVAFilm.AsIndia'sleading renewableenergyfirm,PIXONisgloballyrecognizedforitssuperior solar products. Discover more about their innovative solutions on theirwebsite

PIXON's commitment to excellence shines through the PIX MBHTB 144, setting a new standard in solar technology – a testament to the endless possibilities in harnessing clean energy for a greener tomorrow.

ThePIXMBHTB144

Shining Bright: PIXON Green Energy's Innovative Approach to Solar Module Marketing

JuhiMarwadi

Director, PIXONGreenEnergyPvtLtd

KEY HIGHLIGHTS

AtPIXON,we'renotjustinthesolarmodulebusiness;we'reinthebusinessofshaping asustainableenergyfuturethroughinnovationandcustomer-centricity.

Inacrowdedsolarindustry,ourcommitmenttoquality,sustainability,andconstant innovationiswhatsetsPIXONapart

PIXON Green Energy is not just a manufacturer; we are pioneers committed to makingsolarenergyaccessible,affordable,andenvironmentallyresponsible.

CanyousummarizePIXONGreen Energy'scurrentsolarmodule marketingstrategyandits alignmentwithindustrytrends?

At PIXON, our current solar module marketing strategy is centered around innovation, sustainability, and customercentric. We recognize the evolving landscape of the solar industry and have strategicallyalignedourapproachwithkey industrytrends.

First and foremost, we emphasize the development and promotion of highefficiency solar modules. With advancements in technology, we have introduced 1 GW manufacturing line of Multibusbar Modules. The efficiency of our modules, ensuring that our customers benefit from top-tier performance and maximumenergyoutput.

Environmental sustainability is a core pillar of our strategy. We are committed to producing solar modules with minimal environmental impact utilizing eco-friendly materials, and implementing efficient manufacturing processes. This not only alignswiththegrowingglobalemphasison sustainable practices but also resonates well with environmentally conscious consumers.

Additionally, we have embraced the trend of customization and flexibility in our product offerings. Recognizing the diverse needs of our customers, we provide a diversified array of solar modules that can betailoredtospecificprojectrequirements. Thisapproachallowsustocaterforawide spectrum of applications, from residential installations to large-scale commercial projects.

In line with the broader industry trend towards digitalization, we have invested in digitalmarketingstrategiesandonline

platforms to enhance our brand visibility and engage with our audience effectively. Thisincludesleveragingsocialmedia,online marketplaces, andother digital channels to reach potential customers and communicate the value proposition of our solarmodules.

Overall,oursolarmodulemarketingstrategy at PIXON reflects a commitment to technological excellence, environmental responsibility, customer satisfaction, and adaptabilitytoindustrytrends.Bystayingat theforefrontofinnovationandaligningwith the dynamic landscape of the solar sector, we aim to contribute significantly to the sustainableenergyfuture.

Howdoyouimplementinnovative communicationstrategiestoset PIXONGreenEnergyapartinthe competitivesolarenergymarket?

At PIXON, we recognize the importance of innovative communication strategies to distinguishourselvesinthecompetitivesolar energy market. Our approach is multifaceted and tailored to convey our brandidentityeffectively,values,andunique offerings.

Foremost, we leverage cutting-edge digital communication channels. In today's connectedworld,astrongonlinepresenceis crucial. We utilize social media platforms, industry forums, and targeted online advertising to engage with our audience, share our latest developments, and showcase the distinct advantages of our solarenergysolutions.

Contentmarketingplaysapivotalroleinour communication strategy. We create informativeandengagingcontent,including blogposts,articles,videos,andinfographics, toeducateouraudienceaboutthebenefits

of solar energy and the innovative features ofourproducts.Thisnotonlypositionsusas industry thought leaders but also provides valuableinformationtopotentialcustomers, fosteringtrustandcredibility.

To enhance customer engagement, we implement interactive communication strategies. This includes webinars, live Q&A sessions, and virtual events where our expertscandirectlyinteractwithcustomers, addressing their queries and providing insights into the latest advancements in solar technology. This personalized approach helps build strong relationships and sets us apart in a market where customerengagementiskey.

In summary our commitment to innovative communicationstrategiesatPIXONinvolves a blend of digital engagement, content marketing, interactive sessions, strategic partnerships, compelling storytelling, and adaptability. By consistently pushing the boundariesinourcommunicationefforts,we aim to not only set ourselves apart but also contribute meaningfully to the advancement of solar energy solutions in themarket

HowdoesPIXONGreenEnergy positionitselfasasolarPVmodule manufacturer,andwhatunique valuepropositionsdoesthebrand emphasizeformarket differentiation?

As the Director of PIXON, I am proud to sharehowourbrandstandsoutinthesolar PV module manufacturing industry. At PIXON, innovation and quality are at the coreofwhatwedo.Weemploy1GWstateof-the-arttechnologymanufacturinglineto ensure that our solar modules are not only efficient but also highly durable and adaptabletovariousclimaticconditions.

Sustainability is more than just a buzzword for us; it's a commitment. Our manufacturing processes are designed to be environmentally friendly, and our products aim to reduce carbon footprints significantly. This aligns with our global vision for a greener more sustainable future.

Understanding that each client has unique needs, we specialize in offering customized solar solutions. Whether for residential, commercial, or industrial use, our products aredesignedtomeetspecificrequirements, maximizingefficiencyandvalue.

In terms of affordability, we strive to make solarenergyaccessibletoawideraudience. PIXON offers competitive pricing without compromising the quality of our products. Wealsoprovidevariousfinancingoptionsto facilitateeasieradoptionofsolarenergy.

Ourrelationshipwithcustomersextendsfar beyondthepointofsale.Weprideourselves on our robust after-sales service and support, ensuring a seamless experience and optimal investment returns for our clients.

Our commitment to research and development is unwavering. We constantly explore new technologies and methodologies to enhance the performance and efficiency of our solar modules. This dedication keeps us at the forefrontofthesolarenergyindustry.

Insummary,PIXONismorethanjustasolar PV module manufacturer. We are a brand committed to quality, innovation, sustainability,andmakingapositiveimpact intheworldofrenewableenergy.

WhatchallengesdoesPIXONGreen EnergyfaceinthesolarPVmodules market,andhowisthecompany addressingthesechallengesto maintainastrongmarketposition?

I recognize that our journey in the solar PV modules market is not without its challenges. However, we are committed to overcomingtheseobstaclestomaintainour strongmarketposition.

One of the primary challenges we face is theintensecompetitioninthesolar

industry Themarketisbecomingincreasingly crowded with both established players and newentrants Tostandout,PIXONfocuseson innovation and quality We invest heavily in research and development to enhance the efficiency continually and durability of our solar modules This commitment to excellencehelpsusremaincompetitive

Another significant challenge is the fluctuating costs of raw materials To mitigatethis wehaveadoptedastrategyof strategic sourcing and long-term partnerships with suppliers This approach not only helps in cost management but also ensures the consistent quality of our products

Theevolvingregulatorylandscapealsoposes a challenge, with varying policies and incentives for solar energy across different regions To navigate this we maintain an activeengagementwithpolicydevelopments and adapt our strategies accordingly This proactive stance enables us to not only comply with regulations but also to leverage potential opportunities that arise from new policies

Additionally,thesolarindustryistechnologydriven, and keeping pace with rapid technological advancements is crucial At PIXON we have introduced 1 GW manufacturing line of high-end Multi-Busbar and Bifacial Modules to stay ahead of the curve by investing in new technologies This not only enhances our product offerings but alsopositionsusasaforward-thinkingleader intheindustry

Insummary,whilethechallengesinthesolar PV modules market are manifold, at PIXON, wearecontinuouslyadaptingandinnovating to address these challenges Our commitment to quality sustainability customer-centric, and strategic market adaptationunderpinsoureffortstomaintain astrongpositioninthemarket

HowdoesPIXONGreenEnergy anticipateandprepareforfuture marketingtrendsinthesolar moduleindustry?

In my role as the Director of PIXON, I am acutelyawareofthedynamicnatureofthe

solar module industry and the importance of staying ahead of market trends. Our approach toanticipating andpreparing for thesetrendsismultifaceted.

EmphasisonResearchandDevelopment:

One of our key strategies is to invest heavilyinresearchanddevelopment.This ensuresthatwearenotjustkeepingpace with current technologies but are also at theforefrontofdevelopingnewones.We are constantly exploring innovations in solar module efficiency, durability, and adaptabilitytodifferentenvironments.

MarketAnalysisandForecasting:

We employ advanced market analysis tools and techniques to forecast future trends. This involves closely monitoring industryreports,consumerbehavior,and emergingtechnologies.Byunderstanding where the market is heading, we can align our product development and marketingstrategiesaccordingly.

Customer-CentricApproach:

Understanding the evolving needs of our customersiscrucial.Weengagewithour customers through various channels to gather feedback and insights. This customer-centric approach helps us tailor our products and services to meet futuredemands.

FlexibilityandAdaptability:

The ability to quickly adapt to changing market conditions is a key aspect of our strategy.Wemaintainaflexiblebusiness modelthatallowsustorespondswiftlyto new opportunities and challenges in the market.

SkilledWorkforceandContinuous Training:

We invest in our most valuable asset –our people. By providing continuous training and development opportunities, we ensure that our team is skilled and knowledgeable about the latest trends andtechnologiesinthesolarindustry.

Insummary atPIXON,weprepareforfuture market trends by focusing on innovation, customer insights, sustainability, strategic collaborations, and organizational agility. Our goal is to not just respond to market changesbuttoanticipateandshapethem, solidifyingourleadershipinthesolarmodule industry.

EnerMAN's Integration of IoT, AI, and ML: Revolutionizing Solar PV Plant Optimization

HowdoesEnermanincorporateIoT, AI,andMLtechnologiesintoits digitalandSCADAproductsfor optimizingsolarPVplant performance?

Our SCADA is IoT based we do provide a complete solution hardware + firmware + software

We use AI & ML in our product features like Inverters performance ranking & analysis, EnergyGenerationlossanalysisandEnergy Forecasting

Our robust alert monitoring and data validation uses machine to machine communication effectively for the real time alerts

HowdoesEnermancustomizeits productstomeetspecificneedsor challengesindiversemarketssuch asIndia,SouthAsia,theMiddle East,Australia,America,and Africa?

Yes,wehaveuniqueproductstoaddressthe respectivemarkets.

Customer requirements is varied in each geography, we at EnerMAN have the capability and expertise to meet the requirementsandprovidesolutionsswiftly.

Our SCADA is more than just technology; it's a complete solution, seamlessly combining hardware, firmware, and software for unparalleled performance.

PGuruprasad

ChiefGrowthOfficer, EnerMANTechnologies

KEY HIGHLIGHTS

In the realm of alert monitoring, EnerMAN excels with machine-to-machine communication,ensuringreal-timealertsthatarerobustandeffective.

EnerMAN understands the diversity in customer requirements across geographies, offeringuniqueproductstailoredtoeachmarketwithexpertiseandswiftness.

Facingchallengesinrenewableenergy?EnerMANhasyoucoveredwithsolutionslike robustdataacquisition,real-timemonitoring,andfaultalertmechanisms.

Whatcommonchallengesdosolar PVplantoperatorsfaceinthe renewableenergysector,andhow doEnerMAN’Sproductsprovide solutionstothesechallenges?

Data Acquisition: Effective and robust dataacquisitionmechanismwithourinhousedataloggerETi-LOGwithnodata lossandstorageupto30days.

Real time Live monitoring: ETi-SOL IoT basedSCADAcloudplatformprovidesan access to monitor live data of the Solar PV plants from anywhere using Web AppsorMobileApps24/7.

Real time alerts: Fault alert and control mechanism through MQQT Broker/Subscriber mechanism. M2M communicationforrealtimealerts.

Standardized reports: We provide automatic daily generation report, plant level and device level report with a granularityupto1min.

Stability and control of active and reactive power: Our ETi-PPC solution provide the power plant control solution by controlling active/reactive power as wellasvoltage,providingstableandfast controlatgridconnectionpoint.

Load Management System: Our ETi-LMS provides the balance between the grid utility on import and export of energy withacombinationofDGorwithoutDG.

Unique Solution for Solar Park: provide individual plant wise access end customer and consolidated plantsaccessoftheparktoEPCorSolar Parkdevelopers.

Local SCADA and Remote access through Web hosting or data sharing: Our ETi-EDGE can be installed in server at plant for local monitoring without depending on internet and data from Local Server can be access from customer HQ through Web hosting or datasharingthroughOPC/API/FTP.

CanyououtlineEnerMAN’Sfuture roadmapforproductdevelopment andmarketexpansion?Arethere anyexcitingfeaturesorupcoming productsforcustomersto anticipate?

We are planning to develop software products for Energy Storage management, Advance Analytics of Asset Performance Management, EV and Building Load managementinfuture.

EnerMAN leverages AI & ML for precise features like Inverters performance ranking, Energy Generation loss analysis, and accurate Energy Forecasting

ETi-ZES:ThesmartZeroExportSystemfromEnerMAN

In 2021, India was ranked fourth globally in solar energy generation.Withthis,itwouldbefairtosaytheuseofsolarenergy for self-consumption would greatly contribute towards greener, cleaner, and cheaper energy, which in turn helps reduce the carbonfootprint,decreaseinenergycost,orthepossibilityofreselling this energy to the national grid when local regulations allow it. Solar panels are directly connected to the grid through inverters;theenergyproducedistransmittedtotheloadforselfconsumptionorisreturnedtothegrid.However,insomeregions, the local grid operator does not allow energy injection into the grid, which is called a zero export or injection limitation. The injection limitation consists of controlling the amount of energy produced by a photovoltaic (PV) plant injected into the grid. Limiting active power injection may be necessary to relieve the grid and reduce the reinforcement costs that this would imply. Zero export system helps in achieving the goal by not injecting anyamountofelectricalpowerintothegrid.

WhyZES?

Toensuretheelectricgrid’sstability,thesolarplantsmayrequire limiting the power injection into the electric grid. In some countries, the injection of electricity is prohibited i.e., it is called zero export In compliance with the law and to ensure the supply of a reliable electric grid, some countries prohibit electric power injection limitations. It helps mitigate the abnormal events in electric grid through the generation of “undesirable” harmonics. Bydefault,excesssolarenergyisclippedbyaninjectionlimiter.A more economical approach would be to include an intelligent energy management system such as ETi-ZES, which helps optimize the amount of energy lost by clipping the right amount ofsolar-generatedpower.

Existingsolutionstomanagezerofeed-in

Controlling the energy production of a PV plant by considering climatic variations and consumption while ensuring that the current is not injected into the electric grid proves to be a real challenge.Fortunately,therearesolutionstofacilitatetheenergy managementofthePVplant.BeforeinstallingPV,youcanmake surethatyourinstallationsizebestmatchestheconsumption,the aimbeingnottoresellenergytothegridbuttooptimizeyourrate ofself-consumption.

ETi-ZES

EnerMAN’s ETi-ZES has a wide range of compatibility with commerciallyavailableinverters.Ithelps:

Manage the power flow: reduce the solar inverters’ electricity production to ensure that solar production is not exported to thegrid.

Records the data of equipment connected to it: collecting all data and alarms from multi-function-meters, PV inverters, Weathermonitoringstations,etc.

It helps benefit from extended compatibility: the communication protocol supported is Modbus RTU/TCP. A simple logic to help explainhowZESworksisasfollows:

Step1.ReadtheActivePowerfromthenetmeter.

Step2 CheckifActivepower>MaxSetpoint?Ifyes,increasethe powerontheinverterside.

Step3.CheckifActivepower<MinSetpoint?Ifyes,decreasethe powerontheinverterside.

Step4.Checkagainfromstep1.

Minimum set point: it is the minimum required power input from thegridsupply.

Maximum set point: it is the maximum required power input from the grid supply in case there is enough solar power being producedtocaterfortheload.

KeyfeaturesofETi-ZESare:

It ensures zero export of energy from Solar PV to grid as per DISCOMguidelinestoavoidpenalties.

It can be installed on Local workstation/PC/Server and if required data can be shared with cloud server for remote monitoring/access.

Real time active power control of Solar Inverter(s) by monitoringon-premisespowerconsumption.

IsSolarStillBeneficial,EvenwithZero Exports?

Yes, the real savings come from using the solar electricity generated locally rather than purchasing it from the grid. With grid electricity costing roughly Rs. 4/- to Rs. 5/- per kilowatt hour, reducing this cost by using the locally generated solar power immediatelysavesmoney.

Conclusion

The zero-export system maximizes self-consumption and uses most of the solar power generated locally. ETi-ZES helps achieve thisgoaleconomically.

Saatvik Solar's Vision: Navigating the Currents of India's Solar Energy Market

PrashantMathur

CEO, SaatvikEnergyPvt.Ltd.

KEY HIGHLIGHTS

SaatvikGreenEnergypioneersgrowthinIndia'ssolarmarket,fueledbygovernment supportandenvironmentalconcerns.

Positioned strategically for ALMM policy, Saatvik doubles production, eyeing the surgeindemandforIndian-madesolarpanels

Saatvik Solar's commitment to innovation is showcased through doubled capacity andanewmanufacturingfacilityinGujaratGandhidham.

Howdoyouperceivethecurrent markettrendsanddemandsinthe solarmodulemanufacturing industry,especiallyinIndia?

The demand for solar modules in India is experiencing significant growth, driven by several factors such as Government Initiatives and Policies, Energy Security and Independence, Rural Electrification and BESS Grid solutions, awareness and Environmental concerns. Growing environmental concern due to rising greenhouse gas emissions is expected to drive the solar energy market's expansion. The Indian government has actively promotedsolarenergythroughavarietyof laws and programs. Financial incentives, subsidies, and advantageous regulatory frameworks have pushed both residential and business customers to use solar electricity.

Saatvik Solar, a beacon in India's solar industry, navigates growth with a focus on sustainability and technological excellence.

Whatdoyouseeasthemost significantopportunitiesforgrowth intheIndiansolarenergymarket, andhowcanSaatvikGreenEnergy capitalizeonthem?

One of the most important prospects for growth in the Solar Energy Market is the anticipated increased demand for Indianmade solar panels once the ALMM policy is implemented. Saatvik Solar, as a module manufacturer, is focused on acquiring the majority of market share while encouraging theuseofrooftopsolarpanelsthroughnovel financing methods and quick installation processes. Saatvik Solar remains at the forefront of technology breakthroughs to provide our customers with cutting-edge solutions. Seeking growth and demand.

SaatvikSolarhasalreadydoubleditsAnnual production capacity from 1.5 GW/year to 3GW/year, and it will shortly establish an integrated modules and cell manufacturing operation in Gujarat Gandhidham to meet demand. The market for large-scale solar projects,suchassolarparksandutility-scale installations, is likely to expand. Saatvik Solar has contemplated competing in government auctions for such projects and developingstrategicalliancestoimproveits projectexecutionskills.

Navigating the currents of India's solar industry, Saatvik Solar stands as a beacon, illuminating pathways for sustainable growth and technological excellence.

HowcanSaatvikSolarpositionitself tocaptureIndian&international marketsandpartnerships?

SaatvikSolarunderstandstheimportanceof capturinginternationalmarketatthisstage, whendemandforIndianmadeSolarPanels in international market is booming. For capturing majority of market share’s in international market company has formed strategic alliances which involves a comprehensive approach that considers various aspects of business development, marketing, and collaborations. Saatvik has identified potential partners across international markets such as in USA and Middle East which help us in distribution, technology collaboration and market penetration.Companyisalsoinvestinghuge on R&D for continuous improvements of products and services to maintain a competitiveedge.

Whatarethelatesttechnologieson solarPVmodulesSaatvikGreenis offeringtotheIndiansolarPV developers?

Rapid technological breakthroughs are occurringinthesolarsector,withthegoalof increasing efficiency and improving component performance. Saatvik Solar has recently launched its much awaited NTopConmoduleinIndiathatwillsurelymeet therisingdemandforhigherefficiency.

Juniper Green Energy: Powering Positive Impact Beyond Generation

AnkushMalik

ChiefBusinessOfficer, JuniperGreenEnergy

KEY HIGHLIGHTS

Ourcommitmentgoesbeyondenvironmentalconsiderations;itextendstocreatinga positivesocio-economicimpact.

Holisticsustainabilityfromreducingemissionstolocaleconomicgrowth.

Our mission transcends power generation; it is about creating a lasting, positive impactinthecommunitiesweserve.

Canyouprovideanoverviewof JuniperGreenEnergy(India)forour audience,highlightingthecompany's mission,vision,andkeyareasoffocus intherenewableenergysector?

Ourmissionisbeyondpowergeneration;itis about creating a lasting, positive impact in the communities we serve. We are committed to fostering growth and wellbeing, ensuring our operations go beyond business to create tangible social and environmentalbenefits.

At our core is an unwavering dedication to innovation and technology. We are not just keeping pace with industry standards; we aresettingthem.Ourfocusextendsbeyond India; we are contributing to a global shift towards sustainability. The numbers speak volumes–avoiding1.2millionmetrictonsof CO2 emissions annually is a milestone of whichweareimmenselyproud.

Our mission is clear – to build renewable energy assets with a focus on innovation and technology. Quality, safety, and environmental sustainability are nonnegotiable.Socialresponsibilityisintegralto ourbusinessstrategy,impactingthelivesof thecommunitiesweoperatein.

Looking ahead, our vision is ambitious but essential. We aim to lead the renewable energy sector, providing the nation with sustainable solutions in the most socially responsible manner. We are fostering a culture of trust, collaboration, and transparency, setting the standard for the industry.

I see our role extending beyond business –we are catalysts for positive change in the renewableenergylandscape.

HowdoesJuniperGreenEnergy approachsustainabilityand environmentalresponsibilityinits projects?Aretherespecificpractices ortechnologiesthatthecompany prioritizestoensureapositiveimpact?

At Juniper Green Energy, sustainability is at thecoreofourmission AsanIndependent

Power Producer (IPP) specializing in solar power and renewable energy, we're committed to developing the future of sustainableenergy.

Our approach revolves around creating greenenergyfromendlesssources,steering clear of carbon emissions and environmental harm. A key sustainable practiceweembraceistheuseofinnovative technologies like robotic cleaning systems for our solar modules. Not only are these solutions easy to use and economical, but theyalsoplayasignificantroleinconserving water. In fact, deploying these robotic systems has allowed us to save an impressive 120 million liters of water annually, showcasing our dedication to sustainableoperations.

Our commitment goes beyond environmental considerations; it extends to creating a positive socio-economic impact. Through our projects, we've generated over a thousand local jobs, contributing to the growth of the regions we operate in. The numbers speak volumes about our dedicationtosustainability.We'veavoideda substantial 1.2 million metric tons of CO2 emissions annually, and our sustainable practiceshavesavedover120millionlitersof water.

In essence, our sustainability approach is a holistic one. From reducing carbon emissionsandconservingwatertofostering local economic growth, Juniper Green Energy is not just contributing to a lowcarboneconomybutsettingnewstandards for environmental responsibility in the renewableenergysector.

Consideringthedynamicnatureof therenewableenergysector,how doesJuniperGreenEnergystay aheadofindustrytrendsand emergingtechnologiestoremaina leaderinthemarket?

Juniper Green Energy has played a pivotal roleinsteeringIndiatowardsagreenerand sustainable future. Ouroperational portfolio of nearly 800 MW, under-construction capacityof435MW,andarobust

development pipeline of over 3 GW signify our dedication to sustainable growth. Achieving the recent milestone of 1.2 GW through strategic PPAs/LOAs not only contributes to India's renewable energy capacity but also significantly reduces carbon emissions by approximately 1.3 milliontonsannually,solidifyingourposition asakeyplayerinrealizingIndia'sambitious renewableenergytargets.

Our integration of advanced AI and machine learning in robotic cleaning solutionssetsusapart Thisgame-changing technology enables us to optimize cleaning schedulesbasedonreal-timedata,weather conditions, and energy demand patterns. This predictive maintenance approach enhances efficiency, ensures precise cleaning when needed, and contributes to substantial cost savings through reduced manual intervention and optimal resource utilization.Itexemplifiesourcommitmentto innovation and sustainability across all facetsofouroperations.

Strategic collaborations with industry leaders, such as AT Group and Vitol, are pivotalinachievingourambitiousgoals.The recent INR 5,000 crore funding from Power Finance Corporation is a significant step in realizing our vision. We plan to utilize these funds to fuel the development of upcoming projects, particularly the 1200 MW of renewableenergyprojects,aligningwithour commitment to contribute to India's 'Net Zero'target.

Our partnership with AT Group and Vitol goes beyond financial backing; it's a testament to the collaborative spirit and transformative impact of our projects on India's energy landscape. Together, we aim totripleouroperationalcapacityto2.5GW by 2026, contributing significantly to India's renewableenergygoals.

In essence, our commitment to innovation, strategic partnerships, and financial backing positions Juniper Green Energy not only as a leader in the renewable energy marketbutalsoasadrivingforceinshaping a sustainable future both nationally and globally.

Efficiency in Innovation: Strategies Deployed by Skyfri in Floating Solar Asset Management

HowisSkyfricontributingtothe emergingeraofsolarfloatingsolar projects?

Floating solar photovoltaic installations opens new opportunities for scaling up solar generating capacity, especially in countries with high population density and competing uses for available land. SkyfriEnergyprivatelimitedbeingoneof the top-notch O&M services providers having expertise in Floating solar Operationmaintenanceservices.

Skyfri Have been managing 32 MWp assets out of 92 MWp NTPC’s Kayamkulam,Keralasince2022.Weare eager to add more challenging floating solarprojectinourportfolioinIndia.

Wehavesetatargettomanageassets of500MWpFloatingprojecttill2025.We are aiming to collaborate with Floater manufacturerstogetexpertiseandhelp IndianIPPforbetterO&Mservices.

Skyfri Energy aims for a remarkable 500 MWp in floating solar projects by 2025, pioneering a transformative shift in harnessing sustainable power from water bodies. Leading with precision, they redefine India's renewable energy landscape

ArpitSaxena

VP-salesandBusinessdevelopment, SkyfriEnergyPvtLtd.

KEY HIGHLIGHTS

Floatingsolarphotovoltaicinstallationsredefinesolarscalability,andSkyfriEnergyis attheforefrontofthistransformativeera.

Skyfri Energy's dedication to safety, efficiency, and innovation positions it as a key playerintheevolvinglandscapeoffloatingsolarO&M.

Skyfri's dual approach of qualitative and quantitative data analysis ensures not just maintenancebutoptimizationoffloatingsolarprojects,maximizingenergyoutput

WhataretheChallengesmanaging anyfloatingsolarPVprojectfrom O&Mperspective?

Since FSPV plants are installed on the water’s surface rather than on land, managing operations and maintenance (O&M) in such circumstances can be challenging. Through our experience, we came across the following key challenges in FSPV systems. The Few challenges are asfollows

Accessibilitytoentireplantfor preventiveandcorrectivemaintenance:

Duetoitsfundamentaldesignapproach, Solarplantsinstalledonwaterbodieslike reservoirs, lake, industrial water storage or irrigation ponds. They kept floating throughout its life though floaters. For annual PM and corrective maintenance, only boat is the option for commutation. Minimizing turnaround time (TAT) for corrective maintenance is one of the key challengesforanyfloatingsolarplant.

Findingmanpowerwithadditional swimmingskills:

To manage such plants efficiently and in compliancewithOHSE,O&Mvendormust find recruit technical personnel and helpers,whocanswimefficiently.

Birddroppings:

Bird droppings are among the most aggressive and corrosive types of soiling. Notonlydotheyincreasecleaningefforts, buttheycanetchandscratchtheglass,if not cleaned properly. For solar plant operators, thereareseveralrepercussions if bird droppings remain on a module for an extended period, including the possibilityofreducedyields.

LichenGrowth:

Solar arrays are exposed to both sunlight andwater,whichfacilitatethegrowthof

Skyfri's digital prowess transforms data into efficiency, maximizing floating solar generation.

lichen – a greenish and mossy mass on the solar panels. Nutrients such as nitrogenandammoniaspeedupgrowth, especially as bird droppings are rich in nitrogen.Thelifetimeofapanelaswellas itsoutputandperformanceareknownto be reduced because of such staining, whichisalsoknowntoresultinpersistent moduleshadowing.

Occupationalsafetyandhealth(OSH) hazards:

One of the major concerns during the O&M of FSPV plants is the safety and healthofworkerssincetheentireplantis located on a waterbody. Ensuring that the members of the cleaning team are certifiedswimmersisoneoftheessential prerequisites for conducting cleaning activity.Thereisaneedtodevelopglobal standardsforsafetyduringO&M.

ChallengeswithMooringandAnchors:

The Mooring and anchoring is used to keep the float in position against the externalforcesandwaterlevelvariations. Most of the time due to any environmental effects, routine checks up for anchoring and mooring required. Sometimesanchoringlevelreachesupto 100Meterormorethanthat.Uncertainty inthecalculationofenvironmentalforces due to wind shear effects and shallow water blockage effects may be there. Potential difficulty in knowing the actual tensioninthemooringropelines,inother words,alackofinstrumentation.

FEATUREDTALKS

Canyousharespecificstrategiesor practicesyouhaveimplementedto enhancetheoverallefficiencyof solarassetsintheSkyfri-managed floatingsolarPVproject?

India is still in the early phases of developing floating solar photovoltaics (FSPV)asatechnology.Therehaveonly been a few projects installed so far, totaling 1.272 GW in capacity. However, there are over 3.8 GW worth of projects atvariousstagesofdevelopment.

During managing the assets, each variation must be recorded to prevent future breakdowns and the same have been shared and discussed with end clientwithanadequateplanofaction.

We are more careful and take more precautionarymeasuresforanyleakage currenttoarisesothatwecanavoidany hazardousconditionsinwaterbody.

Since floaters are under more R&D phase considering geographic water challenges, breakdown of floaters are morefrequent.Sometimesitleadstofire

incident. Our engineers on ground make sure to check each solar floater's health morefrequently.

With the minimum required manpower, we have implemented more digitised processforallpreventiveactivities.

Whataretherecommendations basedonyourexperiencetouse dataanalysistomakeinformed decisionsaboutmaintenance, upgrades,orreplacementsofsolar components?

Data helps not just humans make better decisions, but also machines. One of the excitingwaysthatSkyfriusesdataisintheir digital software, which identifies performance issues that a human might missacrossalargeportfolio.

“There are two basic methodologies or approachestomonitoringanissue.Oneisto rely on notifications from individual components. So, you have a bunch of components on-site, think of a big commercial site with a bunch of string inverters. Those string inverters are intelligentcomponentsandhavetheideaof operationalhealth.Theycansendasignal

back through the monitoring platform to say, ‘I’m broken in some way.’ So, one methodology is to gather all those component notifications, organize them, prioritize them, filter out the noise, because thereisalotofnoiseinthatsignalset,and reacttoit.Thisisaqualitativeapproach.

The second methodology, which is what we ware describing earlier, is to build up an independent concept of how the asset should be behaving in the form of generation of kilowatt hours – a quantitative approach. Given everything is working well on site, the physical components,theorientation,thedesign,the actual weather matching the predicted “howmuchenergyshouldthatsystemhave produced”?

Based on the above, our continuous monitoring, Preventive Maintenance (PM) and Corrective maintenance (CM) strategiesarehelpstomaximisegeneration fromPlants.

As far as Solar floaters are concerned, we are looking for diagnoses tools which can monitors the Floaters and mooring lines, anchor point and ferro cement platform physical condition and to assess/maintain rightstabilityofthePontoon.

Astronergy's Ascendancy: Unveiling the Sales Strategy for n-type TOPCon Solar Products

LinHe

HeadofInternationalSales, Astronergy

KEY HIGHLIGHTS

In the realm of solar innovation, Astronergy emerges as a Tier-1 PV module manufacturer,pioneeringn-typeTOPContechnology.

Astronergy's TOPCon products shine with higher power, efficiency, and reliability, transformingsolarlandscapesglobally

Astronergy not only leads in manufacturing capacity but secures top positions in industryperformance,atestamenttoourtechstrength.

Canyouprovideinsightsinto Astronergy'ssalesstrategyforntypeTOPConproducts?Whatunique featuresoradvantagesdothese productsofferinthemarket?

Astronergy is a Tier-1 PV module manufacturer focusing on the R&D, manufacturingandsalesofhigh-powerand high-efficiencycrystallinesiliconPVmodule products. To meet all possible application scenarios of utility-scale, C&I, residential rooftop,floating,agriculturalPVandothers, Astronergyhasupgradedandextendedthe product series at the core tech of n-type TOPCon cell tech with different sophisticated manufacturing techs to enable the products to have greater performancesindifferentsolarprojects.

Except for our n-type TOPCon tech advantages of higher power, higher efficiency, lower degradation, and better spectral response under low irradiance. With manufacturing techs of SMBB, ZBB, high-density encapsulation, bifacial and high-transmittance glass, non-destructive cutandsoon,differentkindsofourTOPCon tech products have different features for better applicability in different application scenarios.

Take the ASTRO N7 SMBB 66-cell TOPCon productasanexample.Mainlydesignedfor utility-scale solar generation stations, the productuses182*210mmn-typerectangular silicon wafers. Compared to the mainstream M10 wafers on the market, the 182*210mm wafer‘s area increased by over 15.6%andhasover25.75%efficiency,which can improve the modules’ efficiency and reducethecostperwatt.

For utility-scale solar system customers, the ASTRO N7 66-cell product has lower BOS costs than the 182mm square wafer modules. Due to the SMBB manufacturing tech, the product has higher reliability and low voltage characteristics, which could benefit the solar system design with lower BOScostandLCOE.

Consideringthecompetitive landscape,howdoesAstronergy positionitselfwithrespectton-type TOPConproducts,andwhatroledo theseproductsplayintheoverall productportfolio?

As a pioneer in n-type TOPCon PV modules, Astronergy leads in achieving the mass productionofTOPConproductsin2022and nowadays the company has over 43GW TOPCon manufacturing capacity which ranksTOP2intheindustry.

Apartfromthemanufacturingcapacity,the general performances of Astronergy TOPCon are also ranked in the top lead in the industry. Taking a recent PV Magazine moduletestasanexample,adouble-glass

bifacial n-type TOPCon product of Astronergy topped in energy yield results in all participators, ranking the FIRST position in all six TOPCon modules. Astronergy products have gained PVEL’s ‘TOP Performer’ title 7 times and won RETC’s ‘Overall Highest Achiever’ in its first-time participation, which are great proofs of our techstrengthandproductperformances.

The highest conversion efficiency of our TOPCon cells could reach 26.4%, and the highestconversionefficiencyofourTOPCon modules could reach 23%, both are tips in the industry. Astronergy has built a complete traceability system and is one of thefewenterprisescompliantwiththestrict regulations of the United States. What’s more,Astronergyisformingitsgreensupply chain to make all our products much more eco-friendly. In the ZBB-TF product manufacturing process, we reduced over 20% silver paste utilization and some other environmentally harmful materials. That is just a small step for us to ensure our Sustainability Strategy can be practiced till we achieve carbon neutrality in 2050 and contribute to the UN’s sustainable developmentgoals.

Giventhediversityinregulations andmarketconditionsacrossIndia, SouthAsia,andSoutheastAsia,how doesAstronergyadaptitssales strategyforn-typeTOPCon productstosuitregionalspecifics?

In terms of policies and regulations from differentmarkets,Astronergyhastakenthis into account when planning new products and passed the access certification of relevantmarkets,suchasBISofIndia,SNIof Indonesiaandsoon.

At the same time, the climate environment of such countries is mainly high temperatureandhighhumidity,forthiskind of application scenario, Astronergy has developed SMBB technology, which makes the stress distribution more uniform, has better quality performance for avoiding micro cracks and busbar cutoff, and effectivelyincreasesthemodulereliability.

The double-layer coated glass manufacturing tech is used for enhancing the light transmittance of 0.3% and improving the module efficiency. And this kind of tech could also effectively cut off water vapor penetration and improve the environmental durability of the module to adapt to the harsh environment in these areas.

In addition, the industrial and commercial and household market demand is also increasing in Southeast Asian countries such as Thailand, Vietnam, Malaysia, therefore,Astronergycouldalsoprovide54cell, 60-cell, 72-cell, and full-black modules to meet the needs of different kinds of customersinsuchmarkets.

First-mover advantage and strong local networks position Astronergy in ntype TOPCon sales

HowdoesAstronergystayaheadof thecompetitioninthesalesofntypeTOPConproducts,especiallyin regionslikeIndia,SouthAsia,and SoutheastAsia?

First, the first-mover advantage of n-type products and technological innovation has broughtusmorebusinessopportunities

Secondly Astronergyactivelylayoutthelocal sales network, and has finished the forming of local sales teams in India, Thailand, Malaysia and so on, and has carried out cooperation with local important customers, such as Adani Sterling&Wilson from India; BCPG Theos from Thailand and so on Simultaneously, the active layout of the distribution network and stable distribution businesswillalsohelpustogainalong-term footholdinsuchmarkets

Thirdly, Astronergy will further strengthen market promotion, pay attention to brand building, actively participate in local exhibitions,forums,andindustryassociations to increase exposure and continue to enhance market awareness and brand influence

Finally,Astronergyadherestothepurposeof high-quality customer service, strengthens customer relationship management and improves customer satisfaction and service quality Improve customer loyalty and wordof-mouth communication by optimizing customer service and strengthening aftersalessupport

Through the layout and arrangement of the above aspects, I firmly believe that Astronergywillbreakthroughtheobstaclesin these markets and remain invincible in the fierce competition Develop targeted marketing strategies and develop different marketing strategies for different markets and customer groups to improve marketing effects

For utility-scale solar excellence, ASTRO N7 SMBB 66-cell TOPCon product stands tall, reducing costs and boosting efficiency.

Howdoyouforeseetheevolutionof salesstrategiesforadvancedsolar PVmodules,considering technologicaladvancementsand changingmarketdemands?

As we all noticed, the market is always changing and keeps heading to a healthy growthpath.

Withourtalentedmarketintelligenceteam, we already have and will keep an eye on depth knowledge about the dynamic markets and so to form complete and flexiblestrategieswhichcouldbettersatisfy marketdemands.

The past two years of 2022 and 2023 are critical transition points for the PV industry from p-type products to n-type products. For lots of our customers, the new n-type TOPContechisstillafreshthingthatneeds introduction. Our dedicated team has receivedacompleteseriesoftrainingonthe newtechandarereadyatallourmarketsto answer questions from customers and offer supportforallrelatedservices.

Forsure,onlyonetechisnotabletosatisfy all possible needs. Taking the TOPCon tech asthefuture2or4yearscore,ourR&Dteam are also preparing new cell techs of HJT, XBC, and perovskite. That’s our style –alwaysmakeatleasttwopreparations–for customers,forthemarket.

Astronergytoexpandintelligent&green manufacturingintovastworldmarket

Besides the United States, Astronergy is constructing another overseas manufacturing base in Turkey More manufacturing capacitiesattheup-anddown-streamareplannedtobeownedin countriesofmajorcontinents Wewillandcertainlywillbeamajor force in the world’s green energy sector”, said Samuel Zhang, the chief marketing officer (CMO) at Astronergy, in a recent talk with industryinsiders

Insisting on utilizing frontier solar tech for green energy and promotingintelligentmanufacturingtechtobenefitmoremarkets Astronergy takes firm steps in developing core techs in PV cell/module, intelligent manufacturing and making techs helpful notonlyinenergygenerationbutinlong-standingimprovementsin aspects of daily lives, industry development and future-proof sustainability

Eachmarkethasitsspecialmeaningforus AsclaimedbySamuel, despite the swerving market situation, Astronergy is expanding its manufacturing capacities to satisfy accurate demands from various customers As a socially responsible enterprise, Astronergy keeps expanding on a peaceful path to create job opportunities and promote green tech by boosting local manufacturing in each market

“For certainty, Astronergy is still on its fast-developing path For stableandpositivedevelopment,wecontinuouslydiveintofrontier PV techs and proper products for all possible scenarios said Samuel during the discussion, these are our foundations for more deploymentinmanufacturingcapacitiesindifferentcountries”

Price fluctuation is inevitable when more companies enter the market, tech changes and more techs utilize, added Samuel, for project developers, they need a period to consider the quality and costperformancesofnewtechsandchoosetheacceptableone;for distributors theyarepartlyconstrictedbytheend-users soweand theyneeddomoretotellcustomersaboutthenewtechsandtheir benefits;andfinally thepricewillonthetrackofahealthypath.

n-type TOPCon will be the mainstream tech for the next three to five years, and as a pioneer in n-type TOPCon PV modules, Astronergy is confident to promote the tech to enter 27% conversionerain2024

Nowadays thecostsandstabilityofothertechsarenotenoughfor widespread use From the market perspective the cost performanceofaproductisstilloneofthekeyelementsthatmay decidewhetheritwillbealargeproportionofthemarket But the company is preparing for other frontier techs and to be ready for demandgrowth

Beingoneofthefewenterprisesthathaveestablishedacomplete supply chain traceability system and comply with relevant restrictiveimportregulationsinmainregionsworldwide,Astronergy has complete supply chain management which could also be a greatexampleformanymarkets

AsaTier-1PVmodulesupplierworldwide tech-motivedexpansion would be an essential path of Astronergy to help corners of the world enjoy green energy green manufacturing and sustainable dailylives.

In the dynamic landscape of technology and market entry, price fluctuations are a natural consequence. However, a commitment to quality assessment and informed choices paves the way for a sustainable and healthy pricing trajectory.

Exploring Fortum India's Vision: Navigating Solar Energy Development

Amidst Regulatory Challenges and Technological Innovation

HowdoesFortumIndiaplanto contributetoIndia'sgrowingsolar landscape,andwhatstrategiesare inplacetoachievethecompany's solarsectorgoalsamidstrapid industrygrowth?

India market is very big. The Target is to have 350 GW Solar by 2030. It means around40-50GWsolaradditioneveryyear. Which is definitely challenging to achieve considering the various issues like land acquisition, timely availability of grid connectivity and absence of regularly signing of PPA/PSA. Electricity demand in the market is increasing and forecast is atleast5-6%increaseofelectricitydemand for next 3-5 years initially. Fortum is also evaluating various opportunities in the market and trying to expand not only in Utility sector but also in C&I segment. Considering various challenges in project execution at this stage, we are planned to focusononly500-600MWeveryyear.Focus will be more on pre development activities likesecuringtheland,connectivityetc.

AsVPofRenewableEnergy,canyou discussFortumIndia'sapproachto technologicalinnovationinsolar projectdevelopmentandhowthe companyintegratesthelatest advancementsintoitsprojects?

Fortum always believe in using the advanced technologies for better performance of the plant. We were one of the first to use bifacial technology on large scale, using robotic cleaning system in all ourplantswasanotherdecisiontakenbyus at an early stage. We are in line with adopting the new technologies and I can assure you that in all our upcoming plants youwillalwaysseetheuseofthelatest

ManojGupta

VicePresident-RenewableEnergy Business,Asiaregion, FortumIndiaPvtLtd

KEY HIGHLIGHTS

Fortum India strategically focuses on 500-600 MW solar projects annually, emphasizingpre-developmentactivitiesandaddressingexecutionchallenges. TechnologicalinnovationdrivesFortum'ssolarprojects,includingpioneeringbifacial technologyandroboticcleaningsystemsforenhancedperformance.

Fortum India navigates regulatory changes and fosters domestic and international partnershipstoensuresuccessfulsolarprojectimplementation.

technologies available in the market whetheritisN-typemodulewithFixedtiltor with Tracker. Depending upon the site, the best technology solution will be kept in mind.

HowdoesFortumIndianavigate India'sregulatoryandpolicy landscapetoensuresuccessful implementationofsolarprojects, especiallyconsideringthe ambitiousrenewableenergy targetssetbythecountry?

There are lots of regulatory changes happening in the renewable market like newmeasuresforgridstability,Forecasting of generation on 15 minutes basis or regulatory challenges with respect to Grid connectivity, land acquisition etc. We need to keep ourself updated in line with the regulatory requirement to ensure proper implementationof theseregulationsinthe project to avoid last minute delay in projectsexecution.

Couldyoushareinsightsinto FortumIndia'sstrategyforforming domesticandinternational collaborationsandpartnershipsto strengthenitspositionasasolar projectdeveloper?

Fortum always believe in strong bonding with their partners, whether they are investors, lenders or the subcontractors. In changing scenarios where ALMM is applicable for importing the PV modules after 31.03.2024, you need to have strong international and Domestic relationship especially with International cell suppliers and Domestic module manufacturer. WhetheritisastoragesolutionorEPCwork, internationalanddomesticplayersplaya

very important role for us as they understandandappreciatethecompliance and safety requirement we desire. There is nocompromisebyusonsuchparameters.

Inlightoftheincreasing importanceofenergystorage,how doesFortumIndiaperceivetherole ofenergystorageinsolarproject development?

Are there specific projects or initiatives aimed at integrating energy storage solutions with solar installations?. We are continuously evaluating the most competitiveandsustainableenergystorage technology and it will definitely be part of our future business expansion plan. The pump storage technology needs many yearstoimplementhoweverbatterystorage is likely to play more important role in near future. Energy storage will play an important role for 24X7 Renewable Energy electricitysupplytotheindustryandalsofor scenario where peak demand is to be addressed by Renewable Energy i.e, morning and evening peak. We can see many ongoing tenders of FDRE supply has compulsoryrequirementofbatterystorage. Earlier, authorities were thinking to use storagetechnologyforfrequencyregulation butnowthestorageroleismoredeeperand moreimportant.

NavigatingIndia's regulatorylandscape requiresagilityand foresight;atFortumIndia, westayaheadby anticipatingandadapting topolicyshiftsforseamless projectexecution.

RevolutionizingSolarPanelMaintenance: AplosVentures'MobileDockingStation(MDS)

HarnessesCleanEnergytoItsFullPotential

In the ever-evolving landscape of renewable energy, Aplos Ventures emerges as an innovative player, introducing the groundbreaking Mobile Docking Station (MDS) for solar module cleaningrobots.UsingtheMDS,acleaningrobotcanbesharedin multiplerowseffectivelyutilizingtherobotcapacityandproviding a solid alternative for semi-autonomous pick-and-place/lift-andshift robots. This fully autonomous system addresses the challenges faced in maintaining irregular land layouts and smallersolararrays,offeringacost-effectiveandefficientsolution tomaximizetheutilizationofassets.

IntroducingtheMobileDockingStation (MDS)

Aplos Ventures proudly presents the Mobile Docking Station (MDS),acutting-edgetechnologydesignedtotransporttheeasei solar module cleaning robot seamlessly from one solar array to another. This autonomous station operates in a straight line, transporting a robot from row-to-row ensuring the optimal utilization of assets with minimal capital expenditure (CAPEX). What sets MDS apart is its ability to navigate undulating terrain, requiring minimal civil work or earthwork on-site offering retrofittableoptionsforexistingplants.

AdvantagesofAplosVentures'MDS:

Economic Efficiency:

Aplos Ventures claims a reduction in overall CAPEX by up to ~60% with a payback period of less than two years when set off against expensive and unreliable labour for semiautonomousalternatives.

MDScoversasignificantdistanceofapproximately110meters, accommodating 14-20 rows or 2.5MWp-3MWp through one MDSandcleaningrobotcombination.

Smart Sensor Technology:

MDS employs a smart sensor-based mechanism, that adjusts the docking station to the height and angle of module mounting structure catering to differential angles (+/- 10 degrees) of tables, and vertical height adjustments up to 500mm.

Thisabilityensuresthecleaningrobotcanefficientlynavigate andcleanvarioussolararrayconfigurations.

Modular Design and Easy Installation:

The state-of-the-art modular design makes MDS quick and easy to install, providing flexibility for different solar plant layouts, different module mounting structure dimensions, pitchandgroundclearances.

The system requires no major civil work at the site, thanks to theuseofpre-castsleepersforlayingthetrack.

Versatility in Applications:

MDS is suitable for fixed tilt, seasonal tilt, and tracker installations,showcasingitsadaptabilitytodiversesolarplant setups.

No change in configuration is required even when tilts are changed in seasonal tilt racks or trackers as the sensors will readjustthetrolleytothenewtiltangles.

IoT Enabled and AI Powered:

The fully IoT-enabled and AI-powered system ensures remote operation and control, enhancing overall efficiency and reducingtheneedforon-sitemanagement.

product Feature

OptimizingCapexwithMDS:

Landlayoutsinsolarplantsoftenposechallengesduetoirregular parcels and smaller arrays. Aplos Ventures addresses these challengeswiththeirMDSsolution.

Autonomous Transitioning:

MDS enables the ease-i cleaning robot to transition autonomouslybetweenarrays,optimizingtheutilizationofthe robot'scapacitysothatasinglerobotmaybesharedinmany rows.

This innovation significantly reduces capital expenditure by upto~60%andlabourcostsformaintenanceofsmallerarrays byupto~95%.

Cleaning Efficiency:

The MDS allows the cleaning robot to cover up to 12-20 consecutive rows with a single cleaning robot, further enhancingcleaningefficiency.

Daily cleaning of smaller arrays ensures an average soiling levelkeptto~0.25%,maximizingenergygenerationpotential.

MobileDockingTrolleyFeatures:

Key features of the Mobile Docking Trolley, covering a linear distance of up to 110m in a straight line. Its ability to manage different tilt angles, post heights, and ground undulations providesaversatilesolutionforvarioussolarplantconfigurations.

BenefitsofMobileDockingTrolley:

Cost Savings:

Significant savings on labour costs, as the system automates thetransitionandcleaningprocesses.

Cleaning during non-generational hours helps avoid hotspots andensuresoptimalenergygeneration.

With the Mobile Docking Station, Aplos Ventures not only cleans solar modules but also cleans up the challenges faced in solar power plant management.

Comprehensive Cleaning:

The automatic system ensures daily cleaning of all solar modules even in the far-flung corners of plants where providingadedicatedrobotfortherowisnotcosteffective.

Terrain Adaptability:

Ground clearance and slope-handling capabilities make the MDS suitable for undulating terrains, enhancing its applicabilityindiverseenvironments.

Significant variations even in consecutive rows can be effectively handledthrough sensor-based alignment ensuring aplug-and-playtypesolution.

Daily Cleaning for Additional Generation Gain:

The ability to clean smaller arrays daily contributes to additional generation gains compared to periodic cleaning approaches.

Inconclusion,AplosVentures'MobileDockingStation(MDS)marks a significant leap forward in the field of maximising power generation from solar panels. This innovative solution not only reducescapitalexpenditurebutalsoenhancestheefficiencyand effectiveness of solar module cleaning, ultimately contributing to thesustainableandoptimizedoperationofsolarpowerplants.As theindustryembracesadvancementsincleanenergytechnology, Aplos Ventures stands at the forefront, offering a solution that harnessescleanenergytoitsfullestpotential.

Email us: info@aplosventures com

Website: https://aplosventures.com/

SolaXPower,aPioneeringForceinSolarandStorage Solutions,SuccessfullyExecutesitsInitialPublicOffering(IPO)

OnJanuary3,2024,SolaXPower,anindustrytrailblazerinthesolar and storage sector, is pleased to announce the successful culmination of its Initial Public Offering (IPO) and subsequent listing on the Shanghai Stock Exchange STAR Market, trading underthestockcode688717 Thisnotableaccomplishmentmarks apivotalmilestoneinthecompany'sdecade-longtrajectory

Founded in 2012 SolaX Power is dedicated to actualizing a clean and sustainable future through solar energy As a leading global providerofsolarandstoragesolutionsandoneofAsia'spioneering hybrid inverter manufacturers SolaX Power has matured into a multinational corporation, boasting a workforce exceeding 2,000 employeesworldwide WithitsheadquarterssituatedinHangzhou, China, and additional branches strategically located in the Netherlands,Germany,theUK,Australia,Japan,andtheUS,SolaX Power extends its services to customers across more than 80 countries

Positioned as a high-tech enterprise, SolaX Power showcases formidable research and development capabilities, seamlessly amalgamatingR&D production sales andservicefunctions Since itsinception thecompanyhasobtainedauthorizationforover100 international patents encompassing more than 30 invention patents Currently SolaX Power products hold over 500 international mainstream market certifications Significantly, SolaX Power stands as the inaugural Chinese manufacturer to achieve the Japanese S-Mark certificate for its residential energy storagesystem Intheyear2023,thecompanygarnered20EUPD awards globally, including distinctions such as Top Brand PV InverterandTopBrandPVStorage,conferredbyEUPDResearch

SolaX Power's expansive product portfolio encompasses Photovoltaic (PV) inverters, energy storage solutions, Electric Vehicle (EV) chargers and advanced smart energy management systems Thecompany'senergystoragesolutionshaveearned

esteemedrecognition includingthedistinguished"Red

Award2021"andtheTÜVRheinland"AllQualityMatters"awardfor the X-ESS G4 Tailored to cater to residential commercial industrial and emerging utility applications SolaX Power's PV inverters are characterized by exceptional efficiency, reliability, adaptability, and intelligent control, positioning the company at theforefrontoftechnologicalinnovation

Demonstrating an unwavering commitment to sustainability, innovation, and customer satisfaction, SolaX Power strategically situates itself to address the growing demand for clean energy solutions The Initial Public Offering (IPO) signifies a critical strategic initiative, with the objective of strengthening partnerships expandingmarketpresence andmakingsubstantial contributionstotheglobaltransitiontowardsagreenerfuture

Our expansive product portfolio, including PV inverters, energy storage solutions, EV chargers, and smart energy management systems, reflects our relentless pursuit of efficiency, reliability, and intelligent control, positioning us at the forefront of technological innovation in the clean energy sector.

DotDesign

DrivingFinancialSustainabilityinCleanEnergy:StrategiesandInitiatives

Howwouldyoumitigatefinancial riskstiedtointernational dependenciesonequipmentand technology,ensuringbothcosteffectivenessandadherenceto projecttimelinesatCleanmax?

Considering the ongoing geopolitical scenario, it is one of most discussed and deliberated questions Here in cleanmax havingarobustSCMteamplaysavitalrole However tomitigatesuchriskitisadvisedto keepitsimpleie

Use proven technology, well-evaluated by theTechnologyteam

Keep as much as indigenous vendor as possible However, a few critical components will come from international countries;insuchascenarioitisadvisable to have multiple high-rated (premium) vendors Over time, CleanMax has cultivatedasetofreliablevendors

Havedesignflexibility especiallyincaseof Module and standardization of blocks sizing

Robustcontractingisarequisite

The developer must be in regular touch with vendor and must always oversee ongoingprocessinspection

Be in regular touch with vendor ongoing processinspection

Above are key points we consider along with regular market updates to ensure financial riskandtimelydeliveryofprojectishappening

AmitJain

KEY HIGHLIGHTS

Utilize proven technology, indigenous vendors, flexible design, robust contracting, andactiveoversightforfinancialriskmitigation.

CleanMaxalignswithIndia'srenewabletargets,fosteringinnovationandexpanding capacitywithstrategicinvestmentsandambitioustargets.

CleanMax prioritizes ESG considerations in financial decisions, reflecting alignment throughdiverseinitiatives,audits,benchmarks,andglobalrecognition

Howdoyouplantoalignfinancial strategiesatCleanMaxwithIndia's renewableenergygoals, consideringcapacityexpansionand fosteringtechnologicalinnovation?

We are well aligned with countrys renewable energy targets/goals To grow further, we are being recently invested in, by Brookfield Renewables oneofthelargestglobalinvestors in the green energy sector We are quite positive and have undertaken an ambitious targetof1GWcapacityadditioneveryyear

Howwillyoustructurefinancial modelsatCleanMaxtomeetthe variedneedsofclientsacross differentsectors,ensuringflexibility infinancingsolutions?

AsCleanMaxprioritizes sustainability,howwouldyou integrateESGconsiderationsinto financialdecision-making,and whatpastinitiativesreflect alignmentwithESGgoals?

Howhaveyoumanagedregulatory changesandleveragedgovernment incentivesintherenewableenergy sectortooptimizefinancial performance?

ThisisoneaspectwhereIbelieveallrenewable energydevelopersarestruggling Westrategize asperthelatestupdateandnotificationfrom the respective regulatory body andwe have a competent regulatory team who guides & provides the necessary inputs for strategizing projectexecutionandcleanenergydelivery

CleanMax’s vision & mission are completely aligned with ESG vision and road map We always give priority to ESG while making financialdecision AtCleanMax,wetakeESG initiativesineveryaspectieplantdesigning technology selection vendor/contractor selection, waste management, water management,carbonneutrality,biodiversity conservation We have a well-informed ESG team which regularly audits project sites in lightofcompany’sESGgoalsandguidesus to set new targets We also benchmark our ESG performance by reporting all ESG parameterstoGRESBandweareAsiasno1 in Renewable energy companies and no 2 globally

INTERSOLARSPECIAL|DEC-JANISSUE2024 51 INDIA SOLARQUARTER

EmpoweringIndia'sSolarLandscape:AnExclusiveInterviewwithFourth PartnerEnergy

HowdoesFourthPartnerplanto contributetoIndia'sgrowingsolar landscape,andwhatstrategiesare inplacetoachievethecompany's solarsectorgoalsamidstrapid industrygrowth?

India stands as a key player in the global renewable energy narrative, currently rankedfourth,trailingbehindChina,theUS, and Brazil. With renewables constituting nearly 30% of India's energy mix in 2023, a substantial increase from the 27.5% recorded in 2022, the trajectory indicates robust growth in installation capacity and overallgeneration.Asanactivecontributor, Fourth Partner Energy is currently positionedat1.4GWofinstalledrenewables capacity,targetinganambitious3.5GWby 2025.

Recognizingthepivotalroleoftheindustrial and commercial sector, which presently consumes over 40% of India's energy, Fourth Partner Energy is committed to accelerating the energy transition. The company, with operations extending to Vietnam, Sri Lanka, Bangladesh, and Indonesia,aimstoreplicateIndia'sprogress in decarbonization within these emerging markets.

InalignmentwithIndia'sambitiousnet-zero targets by 2070, Fourth Partner Energy distinguishes itself as the sole integrated renewableenergysolutionsproviderforthe commercial and industrial sectors (C&I). Offeringacomprehensiverangefromsolar and wind to hybrid solutions, floating technology, energy storage, EV charging infrastructure, and carbon credits, the company not only facilitates carbon emission reduction but also guides corporates towards achieving 100% renewables in their energy mix. This commitmentunderscoresFourthPartner

NithyaBalakrishnan

Head,Marketing&Communications, FourthPartnerEnergy

KEY HIGHLIGHTS

Fourth Partner Energy offers tailored renewable solutions: solar, wind, hybrids, floatingtech,storage,EVcharging,andcarboncredits,aimingfor100%renewables. The company innovates in solar tech with AI-driven monitoring, BAPV, and floating projects,integratingbatterystorageforsustainable,round-the-clockrenewables.

Fourth Partner Energy advocates policies, collaborates with stakeholders, and deploys expertise to streamline regulations, ensuring effective green energy implementation

Energy's dedication to a sustainable future, harmonizing profitability with environmentalconsciousness.

At the heart of Fourth Partner's operations lies an unwavering commitment to technology and innovation, integral to navigating the dynamic spectrum of renewableenergy.Thecompany'sevolution from solar product development to distributed solar, Open Access, wind, and now embracing storage, EV charging, and carbon credits reflects a keen responsivenesstocustomerneeds.

CanyoudiscussFourthPartner's approachtotechnological innovationinsolarproject developmentandhowthecompany integratesthelatestadvancements intoitsprojects?

Managingarobust1.4GWportfolio ofboth onsite and offsite solar and wind assets acrossgeographies,FourthPartneremploys an AI-powered Remote Monitoring System (RMS). This innovative dashboard provides real-time insights into plant performance, facilitating proactive measures and quick issue resolution. During the pandemic, the RMS played a pivotal role in ensuring maximum potential output despite lockdown constraints, earning commendationfromclients.

The incorporation of cutting-edge technologyextendstoprojectdesigns,such as Building-Adjacent Photovoltaic Systems (BAPV), exemplified in the Noida school project. Additionally, the company has ventured into floating solar projects, mounting PV modules on water reservoirs, showcasing a commitment to diverse and forward-lookingsolutions.

Fourth Partner Energy's foray into energy storage reflects a forward-looking approach, with a whollyowned storage subsidiary and successful integration with corporate clients, addressing round-theclock energy demands and contributing to a greener future.

Recognizing the rising demand for roundthe-clock renewables, Fourth Partner strategicallydelvedintobatterytechnology. The in-house wholly-owned battery storage solutions now align seamlessly to achieve uninterrupted power supply while minimizing reliance on diesel generators duringpeakdemand.

Beyond solutions for clients, Fourth Partner prioritizes sustainable practices within its operations. A notable initiative is the adoptionofdryorroboticcleaningforsolar modules, reducing water consumption significantly.TheEnvironmental,Social,and Governance (ESG) team's dedication is evident in achieving a 10% reduction in yearly water consumption for module cleaning.

In essence, Fourth Partner's journey exemplifies not only a commitment to providing innovative renewable energy solutions but also an internal ethos centered on efficiency, sustainability, and leveraging the latest technology to uphold environmentalstewardship.

HowdoesFourthPartnernavigate India'sregulatoryandpolicy landscapetoensurethesuccessful implementationofsolarprojects, especiallyconsideringtheambitious renewableenergytargetssetbythe country?

Clients today aspire not just to embrace renewables but to go beyond, aiming for the RE100 mark and maximizing energy consumption from clean sources. This shift from boardroom discussions to mandated and recorded sustainability goals emphasizes the critical role of energy transition in corporate strategies. Fourth Partner Energy's responsive approach to client needs led to the foray into Open Accessin2019-2020,despitethechallenges of the pandemic. Currently, the company has solar and wind parks spread across states like Uttar Pradesh, Maharashtra, Gujarat, Karnataka, Tamil Nadu, and Andhra Pradesh. Initiatives include setting up a 300 MW ISTS plant in Karnataka and commissioning a 70 MW wind-solar hybrid projectinGondal,Gujarat.

Fourth Partner Energy's philosophy centres on working collaboratively with all stakeholders.Recognizingthateverycogin thewheel,includingdistributioncompanies, project developers, manufacturers, and consumers,playsacrucialroleinachieving India's green energy goals, the company activelyengagesinpolicyadvocacy.

While applauding positive steps like the recent 50 GW wind and solar tender announcement and green energy Open Access norms, the company emphasizes the need for synchronized efforts. All elements,includingdistributioncompanies, project developers, module manufacturers, and end consumers, must work cohesively to ensure effective policy implementation. Fourth Partner Energy actively participates in industry forums, such as the Distributed Solar Power Producers Association, FICCI's CEOs Council for Enable Energy, and CII's SouthIndiaTaskForceforCleanEnergy,to advocate for streamlined policies, quicker approvals,andharmonizedefforts.

Navigating the challenging policy landscape in India, Fourth Partner Energy recognizes the importance of deploying expertise on the ground. The company employs in-house experts at project sites, regulatory levels, and networks with government officials and distribution companies. Additionally, hiring locals around project areas, who bring valuable expertise, contributes to successful project implementation.

As India moves towards ambitious net-zero targets by 2070, Fourth Partner Energy emerges as a pioneer, offering integrated renewable energy solutions and guiding corporates to achieve 100% renewables in their energy mix.

Inlightoftheincreasingimportance ofenergystorage,howdoesFourth Partnerperceivetheroleofenergy storageinsolarproject development?Aretherespecific projectsorinitiativesaimedat integratingenergystoragesolutions withsolarinstallations?

CouldyoushareinsightsintoFourth Partner'sstrategyforforming domesticandinternational collaborationsandpartnershipsto strengthenitspositionasasolar projectdeveloper?

In Vietnam, operating as Fourth Partner Energy Vietnam and Bangladesh, we’ve initiated the C&I renewables business independently. Serving major clients like Free Will and Decathlon respectively. Our model in Indonesia involved a joint venture with Indika Energy, Indonesia’s largest energy provider. we collaborated strategically and now operate as EMITS there, leveraging local expertise to accelerate decarbonization. Our approach tailors collaboration methods to each country, aligning with client needs and the country's renewables trajectory. The geographical expansion is driven by the realization that these regions resemble where India was five years ago, offering significant potential for renewables adoption.

Recognizing the pivotal role of renewable energy coupled with storage in achieving a fully renewable-powered ecosystem, Fourth Partner Energy strategically focuses on providing comprehensive solutions. Despite cost considerations, the decreasing trajectory of battery prices renders the integration of storage commercially viable. The company has established a whollyowned storage subsidiary, showcasing its commitment to this innovative approach. Collaborating with corporate giants like Myntra and Metro Cash and Carry, Fourth Partner Energy has successfully coupled energy solutions with battery storage, catering to round-the-clock energy demands.

The interest and enthusiasm in the energy storage space are evident, with a robust pipeline of projects in progress. Battery EnergyStorageSystems(BESS)havegained traction due to their lower emissions, addressing issues of intermittency in renewable sources and providing a solution for peak energy demand, grid stability, and flexibility. As India's energy demand surges, battery storage solutions become indispensable for the Commercial and Industrial (C&I) sector. Technological advancements in lithium-ion battery technologies, coupled with decreasing prices, position storage as a commercially viable component in the renewable energy portfolio.

Fourth Partner Energy is well-positioned to meet the increasing demand, offering a comprehensive package that not only enhances reliance on renewables but also contributes to a greener footprint for its clients.

IndiaEnergyStorageSectorReview2023

2022inmanywayshadbeenamarqueeyearforthe Indian energy storage sector, 2023 had to meet it! Wasitsuccessful?Iwillletyoudecidethat!

2023 started up-beat cherishing upon the various measurestakenin2022bothbyGovernmentandthe private sector. The year started off with the Union BudgetannouncingVGFforbatterystoragecapacity of 4 GWh (INR 3,760 crores). Following in was CERC’s announcement to include BESS in HP-DAM segment and Ministry of Power releasing guidelines for promoting PSP in India. A series of policy and regulatory interventions were seen in 2023 including (1)MinistryofPowersharedguidelinesforcompetitive bidding of RE+ESS projects, (2) waiving off transmissionlicensefordedicatedconnectiontoESS, (3) releasing National framework for ESS, (4) categorizing RE+ESS and RTC into separate pools underuniformREtariffimplementation.(5)Rajasthan becamethefirststatetoincludeESStargetsby2030 (10GWh)andmanymorestatesaligningto2030ESO targets(10statesasofDec2023).

SUMMARYOFESSLINKEDTENDERRESULTSIN2023

ThedemandforenergystorageinIndiawasamendedbyCEAinboththerevised OptimalgenerationReportandNationalElectricityPlan2022 Thepresentforecast stands at 61 GW/ 336 GWh by 2029-30, 74 GW/ 411 GWh by 2031-32 and 320 GW/ 2,380 GWh by the 100th year of Independence The required demand will also requireinvestmentof368thousandCroresinthesectorbetween2027-32

Suchhighdemandofstorage,especiallybatteries, has also in parallel brought in focus to secure supply chain. Through the year multiple enablers to achieve the same were floated, including (1) Govt. identified 30 critical minerals for India, (2 Li reserves are discovered in Jharkhand and Rajasthan, (2) Government passed law to allow privateplayerstoauctionandmineLireserves,(3) CentresetroyaltyfeeforminingofLithium,and(4) Centreputs20blocksofcriticalmineralsworthINR 45K Cr. including Lithium, Graphite and Nickel up forauction.

The year has been exceptional for energy storage linked tenders for India. Since the first energy storagelinkedtenderwasissuedinIndiain2018,a total of 50 ESS linked tenders has been issued till December 2023. Out of these 50, 25 tenders were floated in 2023 alone, 17 of which were floated between June to December 2023. Of the twentyfive tenders that were issued, 8 tenders were successfully closed during the year. In June 2023, afterguidelinesforcompetitivebiddingofRE+ESS tenders were released by Ministry, which shared theconceptofFirmandDispatchableRenewables (FDRE). Post this, 10 tenders under this concept have been released associated with a total renewablecapacityof11.5GW(6bySECI,andone each by SJVN, NHPC, NTPC and RUMSL). While SECI’s tender followed the demand following model the others are based on guaranteed peak availability. The year also saw three of the largest PSP tenders being issued, including Karnataka’s (PCKL) 8GW, NTPC’s 12 GW tender and RUMSL’s (Madhya Pradesh) 16.4 GW PSP tender. Many new developers entered the market and won projects duringtheyear.Thelistbelowdetailstheresultof successfullyclosedtendersduringtheyear.

INDUSTRY OPINION

ThelowesttariffdiscoveryforRE+ESS tenders in 2023 was INR 4.68/kWh (SJVN1.5GWtender).ThetariffisINR 1.6/kWh more than the lowest tariff discoveryforREhybridtenderwonin 2023 (INR 3.07/kWh) and around INR 2/kWh more than the price discoveries from plain vanilla wind and solar tenders (INR 2.01/kWh and INR 2.51/kWh respectively). This shows the growing attractiveness of RE+ESS projects in India. With battery prices back to the falling trend and raw metal prices slowly stabilizing, 2024 is expected to furtherreducethetariffadder.

50Tenders|46GWhESSCapacity(31GWhPSP,3GWhBESS,12GWhtech.agnostic)with23.4GWofassociatedRE Capacity(9underexecution(2GWh)|19opentenders(29GWh)|3Operational)

ESScapacitynotincludingtheESScapacitytobeincludedinFDREtenders,additional16.4GWPSPtenderinMP

Innovation:AshiftfrominitialsmallEPCtenderstopeakpowertendesr toRenewableRoundtheClock(RTC) to standaloneBESSandPSPtendersandnowFirm&DispatchableRE(FDRE)tenders

Variety:31BuildOwnOperate(BOO),14EngineeringProcurementandConstruction(EPC), 3BuildOwnOperateTransfer(BOOT)Tenders|45%tendersawarded|13StandaloneESS tenders(4PSP&7BESSspecific)

5

2 1 1

1 18 3 1 1 1

TotalESScapacitytenderedintheyear InTenderingStage tendersAwarded TendersCancelled ProjectsinExecution ProjectsOperational

AtotalESScapacityof40GWhwastenderedin2023.PSPdominatedthe tendered capacity (28 GWh), while BESS was 1.5 GWh, the rest being technology agnostic. The capacity of ESS considered here does not include the capacity of ESS which will be included in the FDRE tenders. SomethingtobenotedhereisthatESScapacityinsuchFDREtenderswill not be substantial and thus will not significantly increase ESS capacity addition,trueespeciallyforBESS.Whatmighthelphereistomandatea minimum capacity of ESS inclusion in such tenders in line with the recommendation as given in the National Framework for ESS (atleast 1 Hour min 5% of RE capacity) as released by MoP during the year. This is significantasgiventheprojectionsofBESSrequirementinIndiaby202930byCEA(42GW/208GWh),itwouldrequirecapacityadditionof6GW/ 30GWhannuallybetween2024and2030.

Multiple announcements from Public and private entities were made duringtheyear,somekeyannouncementsincluded(1)OilIndiatodeploy BESS along with gas engines in field installations, (2) ONGC and Assam DISCOM JV for 250 MW/ 500 MWh BESS project, (3) Kolkata Metro planning4MWBESSinstations,(4)NTPC’sEoIfordevelopingmechanical ESSatTalcherPSS,(5)CIL,NHPCplanttoconvertoldminesinPSPsites, (6)MinistryofcoaltoconvertclosedcoalminestoPSPsiteswith200such sites identified and (7) Ministry of Heavy Industries (MHI) to earmark 10 GWh capacity for grid scale stationery storage application out of the residual20GWhwhileseekingbidsunderthesecondround.

PumpedHydrohadagreatcomebackyearin2022,thesamecontinuedin 2023 with 14 MoUs/ agreements being signed for developing PSP in multiple states in the year. The key states being Madhya Pradesh, Rajasthan, Maharashtra, Andhra Pradesh and Uttarakhand. A list of key announcementsfromthePSPsectorisdetailedbelow:

NOTABLEPSPANNOUNCEMENTSIN2023

In 2023, India's energy storage journey unfolded with bold policy strokes and visionary targets. Proactive measures at both the national and state levels set the stage for a robust 2030 Energy Storage Odyssey, blending ambition with action.

Manufacturing of batteries and its components in India gained further traction in 2023. The year was witness to around 50 GWh of battery manufacturing announcements, this included (1) Amararaja starting constructionoftheir16GWhplantinTelangana,(2)Exide’s 12 GWh manufacturing plan, (3) TATA Group’s 20 GWh plan in Gujarat, (4) Panasonic’s plan to set up plant in India, (5) Brookfield and Reliance MoU for production of LDES equipment in Australia, (6) Atmin and ACRI starting their10MWcathodemanufacturingplantinHyd,(7)Nsure Reliable’s plan for 1 GWh LFP battery plant in Bengaluru, (8) Epsilon’s deal to acquire Johnson Matthey’s LFP technology,(9)TATAPowerreceivingbatterypackfortheir ChhattisgarhprojectfromtheirPunefacility(6GWh),(10) Fluence’s plan to localize supply by 2024, (11) Graphite India acquired 30% stake in Godi as part of its plan to diversify, (12) Hindalco plan for $96M battery foil plant in Odisha and (13) KPIT along with IISER Pune developed SodiumIonbatterytechnology.

2024 is going to start off with 2 large scale BESS projects getting commissioned and India inching closer to cross the 1 GWh mark for ESS installations. With battery prices back on the falling trend and raw material prices finally easingdown;2024ispoisedformanymoresuccessstories tobetold!

INTERSOLARSPECIAL|DEC-JANISSUE2024 55 INDIA SOLARQUARTER

FromKilowattstoGigawatts:HowDistributed Solar,Storage,andHydrogenWillReshape India’sEnergyMix?

Pooja Chatterjee

PARTNER (ENERGY, SUSTAINABILITY AND MOBILITY)

KING STUBB & KASIVA

Indiastandspoisedatthedawnofasolarrevolution Withacurrent installed capacity exceeding 72 gigawatts, the nation ranks fifth globally in photovoltaic deployment and boasts ambitious renewable energy targets [1] Prime Minister Modi’s “Panchamrit” pledgehassetforthanaudaciousvision:achieving500gigawattsof non-fossil fuel capacity by 2030 Fulfilling this ambitious promise demandsnotjustanexponentialincreaseinsolardeployments,but alsoastrategicshifttowardstechnologicalconvergence

This necessitates harnessing the synergistic potential of multiple solar-basedsolutions Enterthepowerofconvergence Thefutureof India’s solar landscape lies not just in scaling up established technologies, but in strategically interweaving large-scale distributedsolar,energystoragesolutions,andtheburgeoningfield of solar-powered hydrogen production This article discusses these threepromisingareasofconvergence,exploringtheirpotentialand how their combined force can illuminate the path towards a brighter,sustainablefutureforIndia

Throughin-depthanalysis,weshallnavigatetheexcitingfrontiersof large-scaledistributedsolaranditsdemocratizingimpactonpower generation We will shed light on the intricate relationship between solarandstorage highlightingitstransformativepotentialforgrid

stability and round-the-clock renewable energy availability

Finally,wewillventureintothenascentdomainofsolar-powered hydrogen production, unravelling its transformative potential for decarbonizingkeysectorsliketransportationandindustry

LARGE-SCALEDISTRIBUTEDSOLARPOWERINGTHEGRIDFROMTHE GRASSROOTS

Large-scale distributed solar transcends the singular image of rooftop panels on homes It envisions a constellation of solar installations – on rooftops, commercial buildings, and dedicated solar farms – strategically dispersed across geographical landscapes This democratizes power generation, empowering individuals and communities to become producers alongside traditional utilities Beyond decentralization it strengthens grid resilience Its geographically distributed nature minimizes transmissionlossesandincreaseslocalsupply bolsteringstability duringpeakdemandandunforeseensituations

However, challenges remain Current policies regarding rooftop solar installations and net metering vary across Indian states, impactingadoptionrates Tounlockthefullpotential,streamlined permit processes, standardized net metering regulations, and innovativefinancingmodelsarecrucial Fortunately,thewindsof change are blowing Initiatives like the KUSUM scheme and net metering reforms are paving the way for wider adoption[2] Looking ahead community solar models and microgrids –networks of distributed solar systems operating independently –hold immense promise fostering energy independence and local economicdevelopment

INDUSTRY OPINION

SOLARANDSTORAGE-UNLOCKINGTHE SUN’SPOTENTIAL24/7

The Achilles heel of solar power – its dependence on sunshine – is skillfullyovercomebyenergystorage Batteries,pumpedhydro,and other storage technologies act as energy reservoirs, capturing surplussolarenergyduringpeakhoursandreleasingitwhenthesun dips below the horizon This unlocks the true potential of solar, ensuringround-the-clockavailabilityandenhancinggridstabilityby smoothingoutintermittency

LOOKINGFORWARD

In2024,Indiacouldstandatthecuspofatransformativejourney in its energy landscape, potentially driven by the convergence of three formidable forces: distributed solar, energy storage, and green hydrogen The Union Budget 2024 might be poised to unleash a wave of incentives, potentially ushering in a budget bonanza for distributed solar One could anticipate streamlined permits, standardized net metering policies, and innovative financingschemessuchassolarbonds,allpotentiallyworkingin harmonytoacceleraterooftopinstallationsandcommunitysolar models potentiallypropellingIndiatowardsitsambitious500GW non-fossilfueltarget

Simultaneously energy storage solutions might claim the spotlight, potentially experiencing a meteoric rise supported by the PLI scheme-backed domestic manufacturing and pilot projects exploring pumped hydro integration Lithium-ion batteries, with their potential grid-stabilizing capabilities, could becomecommonplace,potentiallyensuringround-the-clocksolar poweravailabilityandrevolutionizingtheenergylandscape

SOLARANDHYDROGEN-THEGREENFUEL REVOLUTIONONTHEHORIZON

Different applications demand bespoke storage solutions Lithiumion batteries offer rapid response times for grid stabilization while pumped hydro provides large-scale long-duration energy storage Recognizing this the government has launched programs like the PLI scheme for battery storage manufacturing and is actively facilitating pilot projects for pumped hydro integration[3] Private playersarealsosteppingup,withenergycompaniesandrenewables developers investing in diverse storage solutions Cost trends for battery storage are steadily declining, opening up exciting avenues formarketexpansion Green hydrogen, produced by splitting water using electricity generated from solar power, emerges as a transformative force in decarbonizingsectorsliketransportationandindustry Byreplacing fossil fuels with this clean fuel, we can significantly reduce greenhouse gas emissions and move towards a cleaner future Several pilot projects in India, like NTPC’s Green Hydrogen Mission, areexploringitspotential[4]Technologicaladvancementsinsolarpowered electrolyzers are improving efficiency and affordability, pavingthewayforlarge-scaleadoption

Challenges however exist The initial capital costs and lack of a robusthydrogeninfrastructurenecessitategovernmentsupportand sustainedprivateinvestment Overcomingthesehurdlescanunlock the immense potential of green hydrogen It can not only power clean vehicles and fuel cells but also act as a feedstock for green ammonia production, decarbonizing the fertilizers industry By integrating solar and hydrogen solutions into its energy mix, India canplayapivotalroleinshapingaclimate-consciousfuture

In the transportation sector, the nascent field of solar-powered hydrogen production might witness a surge in pilot projects, potentially driven by NTPC’s Green Hydrogen Mission and decreasingelectrolyzercosts Breakthroughsinhydrogenfuelcell technology couldlikely propelcleanbuses andtrucks marking a potentially significant transformation in urban mobility Recognizing the pivotal role of a robust grid infrastructure, the Union Budget could be expected to prioritize grid modernization, potentially allocating significant funds for expansion and upgrades Investments in smart grids, microgrids, and transmission enhancements could facilitate the seamless integration of distributed solar, potentially enhancing grid resilience

Capitalizingonitsabundantsolarresourcesandskilledworkforce, India could potentially emerge as a global leader in green hydrogen production and export One could anticipate potential joint ventures with developed nations technology transfer agreements and policy frameworks potentially designed to attract foreign investments, potentially propelling India into the forefrontofthecleanenergyrevolution

Largeprojectpipelineandmoderationinmodule pricestoimprovesolarcapacityadditioninthe neartomedium-term

Girishkumar Kadam

SeniorVicePresident&GroupHead-Corporate Ratings

ICRALimited

Vikram V

VicePresident&Co-GroupHead-Corporate Ratings

ICRALimited

ment remains the major contributor to renewable energy (RE) sector, with the o 72% of the capacity added in the RE sectorsinceMar’2014 Asaresult,theshareofsolarpowercapacity in the overall RE capacity increased to 55% as of December 2023 from8%inMarch2014 Moreover,theshareofsolarpowercapacity intheoverallinstalledpowergenerationcapacityincreasedto17% as of December 2023 from 1% in March 2014 This is led by the strongpolicysupportandimprovedtariffcompetitivenessofsolar power with the tariffs coming down from more than Rs 150 per unitinearly2010stolessthanRs.2.5perunit.

During FY2022 and FY2023, the segment has been facing certain challengesarisingfromthesharpincreaseinsolarcellandmodule prices between Dec2020 and Sep2022, the impact of the imposition of basic customs duty (BCD) on imported cells & modules, and promulgation of approved list of models & manufacturers(ALMM),whichcomprisesofonlydomesticmodule manufacturers However,modulemanufacturinginIndiaislargely

limited to the last stage, ie, module assembly Also, developers were facing challenges in sourcing modules from the domestic OEMsduringthisperiod

While there has been a scale-up in domestic module manufacturingcapacity,theOEMsremaindependentoncell/wafer imports, given the lack of backward integration Also, the jump in module exports given the higher realisations impeded the availabilityofmodulesinthedomesticmarket Inthiscontext the Government of India has put the ALMM order under abeyance for projects commissioned till March 31 2024 This along with a significantmoderationinthesolarPVcellandmodulepricesover the past 15 months has been a positive for the solar power developersinthecountry

ThepricesofthemonoPERCmodulesdeclinedtoalltimelowof1213cents/wattinDecember2023fromthehighof27-28cents/watt seen in Q4 FY2022 and lower than 23-24 cents/watt seen in December 2022 Also, the cell prices have declined to 5-6 cents/watt in December 2023 from the peak of 16-17 cents/watt in December2022 This alongwiththeincreaseinthesolarbidtariffs to over Rs 25 per unit since Jan’2023 has improved the return profileoftheprojectsforsolarpowerdevelopers

Also,theGovernmenthasnotifiedtheannualREbiddingtrajectory of50GWperannumoverFY2024toFY2028,whichinturnledtoan improvedbiddingactivityinthecurrentfiscal Asaresult,thesolar powercapacityunderdevelopmentacrossthevariouscentraland state sector schemes stands at close to 50 GW The large project pipeline and moderation in cell and module prices is expected to improvethesolarcapacityadditionfrom128GWinFY2023toover 15GWinFY2024andfurtherhigherinFY2025 Further,thesector's long-term capacity addition prospects remain strong, supported by policy focus tariff competitiveness and large capacity targets tomeetclimateactiongoals

INDUSTRY OPINION

HARNESSINGSUNSHINE

TheEvolvingTapestryofSolarPowerinIndia

ANURAG RAIZADA

SENIOR DIRECTOR, GLOBAL ENERGY PRACTICE TETRA TECH

AsIndiacontinuesitsambitiousjourneytowardsasustainableand energy-securefuture,thesolarsectorstandsattheforefrontofthis transformativeodyssey Recentpolicyinitiativesaresettoredefine India's energy landscape The production linked incentive (PLI) scheme for solar manufacturing will boost domestic production andreducerelianceonimports The‘OneSun OneWorld OneGrid’ initiative envisions a global interconnected solar grid, fostering international collaboration and energy sharing The Green Energy Corridor project aims to strengthen the countrys transmission infrastructure to support renewable energy integration Coupled with the emerging solar trends outlined below, it is evident that renewable energy is taking a center stage, propelling the nation towardsagreenerandmoreself-reliantfuture

RapidGrowthinRooftopSolar Installations

With a heightened focus on decentralized energy production, the rooftop solar segment is expected to witness substantial growth Enhanced Government incentives, net metering policies, and increased awareness among consumers are driving the adoption of rooftop solar panels in residential, commercial, and industrial sectors Expect to see a surge in rooftop solar installations on homes, offices, and factories as the nation embraces distributed solarpowergeneration

IntegrationofEnergyStorageSolutions

As the solar sector matures the integration of energy storage solutions is emerging as a key trend Advanced battery technologiesarebecomingmoreaffordable allowingforefficient

storage of excess energy generated during peak sunlight hours This development addresses the intermittency of solar power, providing a reliable and continuous energy supply Expect to witness an increased emphasis on energy storage projects alongsidesolarinstallations

TechnologyAdvancement

Technological innovation remains at the forefront of the solar revolutioninIndia Theadoptionofbifacialsolarpanels whichcan capture sunlight from both sides, is gaining traction, boosting overall energy yield Additionally, improvements in solar cell technologies,suchasPERC(PassivatedEmitterRearContact)and tandem solar cells, are enhancing the performance of solar installations These technological strides will play a crucial role in makingsolarenergymoreaccessibleandefficient

LargeScaleSolarParksandUltraMega RenewableEnergyPowerProjects

India's ambitious targets for renewable energy capacity will drive the development of large-scale solar parks and ultra mega renewableenergypowerprojects Theseprojects,characterizedby extensive land usage and high capacity, are pivotal in achieving the nation's renewable energy goals Government initiatives, such as the Green Energy Corridor, will facilitate the seamless integrationoftheseprojectsintothenationalgrid

InnovativeFinancingandGreenBonds

To fuel the growth of the solar sector expect the emergence of innovative financing models and an increased issuance of green bonds These financial instruments directed towards sustainable projects will attract investments from both domestic and internationalsources Thefocusonfinancingmechanismswillplay a crucial role in making solar projects financially viable and scalable

GujaratConstitute26%of theTotalSolarPVRooftop InstallationsInNovember 2023

In a significant development for India's solar landscape, Gujarat has solidified its position as a solar powerhouse by constituting an impressive26%ofthetotalsolarPVrooftopinstallationsinNovember 2023. The state's commitment to renewable energy is evident as rooftop installations in Gujarat have reached a remarkable 2.9 GW, contributingsignificantlytothenation'scleanenergygoals.

AsofNovember2023,India'stotalrooftopsolarPVinstallationsstood ataround11GW,markingasubstantialstrideinthecountry'sjourney towards sustainable and renewable energy sources. Amongst the states leading this charge, Gujarat has emerged as a frontrunner, showcasingitsdedicationtoharnessingthepowerofthesun.

GUJARAT SHARE OF ROOFTOP SOLAR PV INSTALLATIONS

Gujaratrooftopsolar PVinstallations

SOURCE: MNRE

The 2.9 GW rooftop installations in Gujarat highlight a concerted effortbythestategovernment,businesses,andresidentstoembrace solar energy. The rooftop solar sector has gained momentum, not onlyinurbanareasbutalsoinruralregions,reflectingabroad-based andinclusiveapproachtocleanenergyadoption.

Gujarat's success in achieving such substantial rooftop solar installations can be attributed to a combination of proactive government policies, financial incentives, and an increasing awareness among the populace about the environmental benefitsofsolarpower.Thestatehasimplementedmeasuresto streamlinetheprocessofinstallingrooftopsolarpanels,making it more accessible for residential, commercial, and industrial entities.

The 26% share of Gujarat in the total rooftop solar PV installations across the country is a testament to the state's pivotalroleinIndia'srenewableenergylandscape.Byachieving this milestone, Gujarat not only contributes significantly to the national target of promoting clean energy but also sets an inspiringexampleforotherstatestofollow.

This remarkable feat positions Gujarat as a key player in the solar revolution, emphasizing the state's commitment to a sustainableandgreenfuture.Thepositivemomentuminrooftop solar installations aligns with India's broader ambitions of increasing its renewable energy capacity and reducing its carbonfootprint.

As the nation continues to strive for greater reliance on clean and sustainable energy sources, Gujarat's success story stands out as a shining example of effective policy implementation, public participation, and a collective push towards a greener tomorrow. With rooftop solar installations becoming a cornerstoneofGujarat'senergylandscape,thestateispoisedto playacrucialroleinIndia'sjourneytowardsamoresustainable andeco-friendlyfuture.

MARKETSTATISTICS

Solar Installations by State

TOTAL SOLAR PV INSTALLATIONS AS OF DECEMBER, 2023

India installed around 10 GW of Solar PV projects in the calendar 2023 from January 2023 to December 2023 The country's total Solar PV installation crossed 73.3 GW by the end of December 2023. Rajasthan installed over 18.7 GW, there is a growth of 14.91% in 2023 from December 2022 with the installation of over 2 436 GW in the calendar year of 2023 Among the Top Solar States Maharashtra stepped one position ahead compared to their position in December 2022, while Telangana and Maharashtra went down and Rajasthan, Gujarat, Karnataka, and Tamil Nadu maintained their previous position in the same period There was a growth of over 15 8% compared to the total Solar PV installations of 63 3 GW by the end of December 2022

Rajasthan

SOURCE: MNRE

In the above pie chart, Renewable capacity additions continue to increase at a rapid pace in India, accounting for approximately 31 26% of total India’s power capacity at the end of December 2023. India’s total installed power capacity stood at over 428.29 GW at the end of the calendar year 2023 from all the sources, with renewables accounting for ~134 GW making up 31 26%, compared to cumulative renewable energy installations of 120 9 GW at the end of December 2022, which represented a growth of around 10.74% year-over-year. Solar power accounted for approximately 73.3 GW of installations, which represents 17 12% of the total installed power capacity Among the renewable, Wind and Solar constitute around 88 2% of the total renewable, Wind Power installed capacity at the end of December in the Calendar Year 2023 was around 44.736 GW, which represents 10.45% of the total power capacity installed.

SOLARQUARTER RESEARCH

INDIA POWER MIX

SOURCE:CEA,SOLARQUARTERRESEARCH

INDIA RENEWABLE MIX

Telangana Karnataka Gujarat Andhra Pradesh TamilNadu Madhya Pradesh Uttar Pradesh Punjab

Maharashtra

MARKETSTATISTICS

Monthly RE Generaton in India

Renewable Energy Vs Solar Generation

Total renewable energy generations in November 2023 reached 14,085.75 million units, there is a growth of RE generations by around 5 17% yearover-year from November 2022, where the RE generations were 13,393 41 million units Solar Power generation has declined by around 1 95% yearover-year from November 2023 (7,820.94 million units) to November 2022 (7,976 88 million units), Wind Power generation has increased by almost 42% in the same period and reached 3,544 27 million units in November 2023

SECI Monthly payment to Wind and solar Generators in 2022-2023

Solar Energy Corporation of India (SECI) paid ₹118 28 billion ( $1 427 billion) to Solar and Wind developers for power purchased in the calendar of 2023 till November The disbursed amount was highest in October in the calendar year 2023 There have been many ups and downs in the payment to generators since the start of 2023 as shown in the above chart In the financial year 2023-24, there is a growth in the monthly payment to wind and solar power generators While SECI paid ₹67 45 billion for the purchase of Solar and wind in the first half of the financial year 202324 The payments made to power generators such as wind and solar were quite high in the first half of FY 2023-24 compared to the second half of the financial year 2022-23

MARKETSTATISTICS

Electricity Market

In the calendar year 2023, 10,5417 million units (MU) of total volume from January to December were traded in IEX (Indian Energy Exchange) which shows a year-over-year growth of 7.8% compared to the January to December traded volume of 97,758 million units in the calendar year 2022. The monthly traded volume shows the highest in December in the calendar 2023.

Indian Energy Exchange, India’s premier energy exchange, achieved 9,707 MU overall volume in December’23, including 10 52 Lac Renewable Energy Certificates (RECs) (equivalent to 1052 MU), marking a 14 9% increase on a YoY basis IEX achieved 8,655 MU total electricity volume in December 2023, registering an increase of 8.7% on a YoY basis. For the third quarter of the fiscal year 2024, IEX achieved 28,326 MU overall volume, registering an increase of 16.9% YoY basis

According to government data published in December '23, the country's energy consumption remained flattish at 119 07 BUs The Market Clearing Price in the Day Ahead Market for the month was ₹4 54/unit, marking a 13% YoY decrease With favorable Policy and Regulatory interventions, the sell bids on the exchange (Day Ahead Market plus Real-Time Market) during the month increased by 18% YoY Going forward, the sell liquidity is expected to further improve, leading to a decline in power prices on the Exchanges. This will present an opportunity for Discoms and Industrial consumers to optimize their power procurement costs.

Trend of Solar Tariff, 2023-24

In light of the imposition of Basic Customs Duty (BCD) on Solar PV modules and Cells in India, the tariff rates for solar auctions have experienced fluctuations. The solar sector is grappling with challenges not only from BCD but also from currency exchange rate fluctuations and the geopolitical tensions arising from the Russia-Ukraine conflict. However, a silver lining for project developers is the government's decision to extend the commissioning due date, recognizing the disruptions in the solar supply chain.

Several factors contribute to the variations in tariff rates, including advancements in solar technology, intense competition in bidding processes, regional differences, and the prevalence of large-scale solar projects Policy adjustments, the availability of viability gap funding, and growing interest in floating solar installations also play pivotal roles in influencing tariff rates, with long-term contracts offering a degree of stability amid market uncertainties

Gujarat'sSolarSurgeAnd ItsImpactOnIndia's RenewableLandscape

InthevastexpanseofIndia'srenewableenergyambitions,Gujarat hasemergedasafront-runner,carvinganicheforitselfinthesolar domain.Thestate'smeteoricriseinsolarinstallations,particularly in the realm of rooftop setups, has not only catapulted Gujarat to the forefront of the national solar scene but has also significantly influencedthebroaderrenewableenergylandscapeinthecountry. The state has an overall solar installed capacity of 10,516.37 MW which includes 2,898.16 MW comes from rooftop solar PV as of November2023.

GovernmentCommitmentandStrategic Policies

Gujarat's foray into solar prominence is undeniably linked to the unwaveringcommitmentofitsgovernment.Theimplementationof strategic policies, chief among them the Gujarat Solar Policy, has set the stage for a robust solar ecosystem. Crafted to incentivize solarpowergeneration,thispolicyhasbeenpivotalinattractinga diverserangeofstakeholders,fromindividualhouseholdstolargescaleindustrialplayers,toinvestinsolarinfrastructure.

FinancialImpetusforSolarAdoption

AttheheartofGujarat'ssolarsuccessstoryliesawell-orchestrated financial framework. Collaborative efforts between the state and centralagencieshaveresultedinattractivesubsidiesandfinancial support structures. These financial incentives have been a gamechanger, mitigating the financial barriers that often impede the widespread adoption of solar technology. The result has been a surgeinrooftopsolarinstallationsacrossGujarat,atrendwithfarreachingconsequencesforthestateandthenation.

NetMetering:FacilitatingIntegration

Gujarat'sforward-thinkingapproachtonetmeteringhasprovided a blueprint for other states to emulate. Net metering policies enable solar system owners to seamlessly integrate their installations with the existing energy grid. The surplus electricity generatedduringpeaksolarhourscanbefedbackintothegrid,

creating a mutually beneficial relationship. This not only reduces dependence on conventional power sources but also opens up avenuesforindividualsandbusinessestocontributetotheoverall energygrid.

TechnologicalInnovationsDriving Adoption

The state's solar ascendancy is not solely a result of policy prowess; technological innovations have played a crucial role. Gujarat has been quick to embrace cutting-edge solar technologies, making advancements in efficiency, affordability, and durability. This technological evolution has empowered consumers with a diverse array of solar solutions, encouraging a broad spectrum of society to embrace cleaner and sustainable energyalternatives.

EnvironmentalConsciousnessinAction

Gujarat's solar surge is not just about numbers on rooftops; it's a testament to a growing environmental consciousness. With an increasing understanding of the ecological repercussions of conventionalenergysources,individualsandbusinessesinGujarat are actively choosing solar as a cleaner alternative. This shift in mindset aligns with global efforts to combat climate change, positioningGujaratasatorchbearerforsustainablepractices.

AsGujaratbasksintheglowofitssolartriumph,theramifications extendfarbeyondstateborders.TheimpactonIndia'srenewable landscape is profound, setting a precedent for other regions to followsuit.Gujarat'sstoryisnotmerelyaboutharnessingsunlight; it's a narrative of strategic governance, financial ingenuity, technologicalprowess,andacollectivecommitmenttoagreener, more sustainable future. In the vast canvas of India's renewable ambitions, Gujarat's solar surge is a vibrant stroke, painting a pictureofanationonthecuspofarenewablerevolution.

POLICY RESEARCH

GujaratIntroduces RenewableEnergyPolicy

2023

GujarathasannouncedacomprehensiveRenewableEnergyPolicy 2023 which aimed at catapulting the nation into a renewable energy powerhouse. The ambitious plan seeks to develop a cumulative capacity of 100 GW in renewable energy by the year 2030. This transformative endeavor is set to attract investments totaling around ₹5 lakh crores while utilizing approximately 4,00,000acresofland.

The policy, which came into effect upon notification, will remain operational until June 2028 or until a new policy is introduced, whichever comes first. Its primary goal is to achieve the target of 100 GW of renewable capacity within the next decade. What sets this policy apart is its approach to promoting renewable energy without imposing capacity restrictions for setting up projects for captive use or selling electricity to third-party consumers, as long as they align with the consumer's contracted demand or sanctionedload.

The scope of this policy extends to both solar and wind energy projects,whichcanbeestablishedwithindesignatedsolarorwind parks, on government revenue land, or even on private land, emphasizing flexibility and inclusivity in renewable energy development.

Furthermore,thepolicyencouragestheimplementationoffloating and canal-based solar projects, subject to consultation with the relevant government authorities responsible for canals, rivers, and streams.

A noteworthy feature of the policy is the inclusion of Wind Solar Hybrid (WSH) projects, categorized into Type-A and Type-B projects. Type-A projects involve the conversion of existing standalone wind or solar power plants into hybrid projects, while Type-B projects encompass entirely new wind-solar hybrid power generationventures.

RenewableEnergyParksareanotherfocalpointofthepolicy,with a minimum capacity requirement of 50 MW and maximum capacities following guidelines established bytheMinistry ofNew andRenewableEnergy(MNRE).

Moreover, the policy permits the setup of renewable energy projects under the Renewable Energy Certificate (REC) mechanism,whetherforcaptiveuseorthird-partysale,byCentral Electricity Regulatory Commission (CERC) regulations. It also mandates that if these projects do not utilize their renewable energy attributes to meet their Renewable Purchase Obligations (RPO), these attributes will be factored into the Distribution Companies(DISCOMs)RPOcalculations.

DISCOMsareencouragedtoprocurepowerfromdistributedsolar projectsupto4MWcapacityandsmall-scalewindprojectsupto 25 MW capacity at predefined levelized tariffs, by mechanisms devisedbytheGujaratElectricityRegulatoryCommission(GERC). Tofurtherincentivizeconsumerstotransitiontorenewableenergy, the policy introduces a Green Tariff option. Under this provision, DISCOMs will supply 100% renewable energy to consumers upon request,subjecttoaGreenPowerSupplyTariff.

Additionally, renewable energy developers will be required to install Remote Terminal Units (RTUs) at their projects to enable real-time data transfer to the relevant Load Dispatch Centre for monitoringpurposes.

Furthermore, the policy acknowledges the potential for carbon credit benefits, making renewable energy projects eligible for carbon credits issued through competitive bidding processes. These credits can be obtained and retained by developers, offering additional incentives for renewable energy initiatives in India.

India's new renewable energy policy sets the stage for a green energy revolution, with far-reaching implications for the nation's energylandscapeandglobalclimateefforts.Withitscommitment to substantial capacity growth and flexible project development options, this policy represents a significant leap toward a sustainableenergyfuture.

InnovationHorizons:Western India'sTechnological AdvancementsInSolar Energy

Inrecentyears,WesternIndiahasemergedasapowerhouseinthe field of renewable energy, with a particular focus on solar energy innovation. The region's commitment to sustainable development and environmental responsibility has paved the way for groundbreaking advancements in solar technology. This article explores the current state of technological innovations in solar energyinWesternIndia,sheddinglightontheinitiatives,research, anddevelopmentsthatarepropellingtheregiontotheforefrontof theglobalrenewableenergylandscape.

GovernmentInitiativesandPolicies

One of the driving forces behind Western India's strides in solar technology is the proactive role played by governments in the region. The Indian government, in collaboration with state governmentsinthewesternstatessuchasGujarat,Rajasthan,and Maharashtra, has implemented policies and incentives to encouragetheadoptionofsolarenergy.

These initiatives include subsidies, tax benefits, and regulatory frameworks that make it easier for businesses and individuals to invest in solar projects. The favorable policy environment has attracted both domestic and international investments, fostering an ecosystem conducive to innovation and growth in the solar sector. Western India has witnessed remarkable technological advancements in solar energy, ranging from improvements in photovoltaic (PV) cell efficiency to the development of innovative solartrackingsystems.

TechnologicalAdvancements

EfficientPhotovoltaicCells

SolarTrackingSystems

To optimize energy capture throughout the day, solar tracking systems have become a focus of innovation. Western India has seen the emergence of smart solar tracking technologies that enable solar panels to follow the sun's movement, maximizing energy generation. These systems improve the overall performanceofsolarinstallations,makingthemmoreeffectivein varyinglightconditions.

EnergyStorageSolutions

The intermittent nature of solar energy production has prompted researchersinWesternIndiatoexploreadvancedenergystorage solutions. Breakthroughs in battery technology, including the development of high-capacity and fast-charging batteries, contribute to overcoming the challenges associated with solar powerintermittency. This,inturn,enhances thereliability ofsolar energyasaviablesourceofpower.

InnovativeFinancingModels

In addition to technological advancements, Western India has pioneeredinnovativefinancingmodelstomakesolarenergymore accessible. These include leasing programs, power purchase agreements (PPAs), and community solar projects that allow individualsandbusinessestobenefitfromsolarenergywithoutthe upfrontcoststraditionallyassociatedwithsolarinstallations.

GlobalImpactandFutureProspects

ResearchersandcompaniesinWesternIndiaareactivelyengaged in enhancing the efficiency of solar cells. Advancements in materialsscienceandengineeringhaveledtothedevelopmentof high-efficiency solar panels that can harness more sunlight and convertitintoelectricity.Thishassignificantlyincreasedtheoverall outputofsolarpowersystems.

The advancements in solar technology in Western India are not onlycontributingtotheregion'senergytransitionbutalsohavea global impact. The expertise developed in the region is sought after by international players, leading to collaborations and knowledgeexchangeonaglobalscale.

Lookingahead,WesternIndiaispoisedtoplayacrucialroleinthe ongoing energy revolution. The region's commitment to research and development, coupled with supportive government policies, positionsitasahubforcontinuousinnovationinsolarenergy.As theworldincreasinglyturnstowardssustainableenergysolutions, Western India's technological advancements in solar energy are likelytoshapethefutureoftherenewableenergylandscape.

AWARDS

Congratulations to all the

BUSINESS EXCELLENCE AWARDS WINNERS

GRANDMASTERS I N D I A AWARDS 2023

GRANDMASTER INDIA AWARDS

EXCELLENCE IN TECHNOCOMMERCIAL LEADERSHIP

Ravi Shaw

Head Solar, Arcelor Mittal Green Energy Pvt Ltd

EXCELLENCE IN TECHNOLOGY LEADERSHIP (PLATINUM)

Prosenjit Chakraborty

Head – Performance S stems & IT Sunsure Energy

CELLENCE IN ADERSHIP (D

nil Suradk ef Strategy Off

CELLENCE IN OUGHT LEAD

ivang Gu

keting Manag

CELLENCE IN REGULATORY FAIRS

harmendra Gupta

ad Regulatory Affairs, O2 Power

COO OF THE YEAR

Rajeev Sharma

COO, Stride Climate Investments

Enel Green ted

GN & RSHIP

delwal

osting,

AWARDS

COMPANY OF THE YEAR: DEVELOPER ( PLATINUM)

Mahindra Susten

COMPANY OF THE YEAR: DEVELOPER (DIAMOND)

TILITY LEADERSHIP AWARDS2023

SOLARSHOW INDIA

COMPANY OF THE YEAR

Juniper Green Energy Pvt. Ltd.

COMPANY OF THE YEAR: MODULE ( INTERNATIONAL)

Jinko Solar

COMPANY OF THE YEAR: EPC

Prozeal Green Energy

COMPANY OF THE YEAR : IPP (WIND & SOLAR / HYBRID PROJECT)

O2 Power

COMPANY OF THE YEAR: MODULE DOMESTIC (PLATINUM)

Vikram Solar Limited

COMPANY OF THE YEAR: MODULE DOMESTIC (DIAMOND)

Saatvik Green Energy Pvt Ltd

COMPANY OF THE YEAR: MODULE DOMESTIC (GOLD)

Solex Energy

COMPANY OF THE YEAR IPPRISING STAR

Enerture Technologies

COMPANY OF THE YEAR: CABLE

APAR

COMPANY OF THE YEAR: FLOATER MANUFACTURER

Floatex Solar

AWARDS

Congratulations to all the BUSINESS EXCELLENCE AWARDS WINNERS

PROJECT EXCELLENCE AWARDS

BEST SOLAR ENGINEERING PROJECT OF THE YEAR

Enel Green Power India Private Limited

BEST SOLAR PARKS DEAL OF THE YEAR

Rays Power Infra Pvt Ltd

PRODUCT TECHNOLOGY & INNOVATION AWARDS

SMART TECHNOLOGY INNOVATION OF THE YEAR (INTERNATIONAL MODULE MANUFACTURER)

LONGi

SMART TECHNOLOGY INNOVATION OF THE YEAR (DOMESTIC MODULE MANUFACTURER)

Vikram Solar Limited

SMART TECHNOLOGY INNOVATION OF THE YEAR(CABLES)

APAR

SMART TECHNOLOGY INNOVATION OF THE YEAR (SOLAR INVERTER)

Growatt

BREAKTHROUGH SOLAR TECHNOLOGY AWARDS

AKTHROUGH SOLAR TECHNOLOGY HE YEAR (ROBOTICS)

LAR-LIT

BREAKTHROUGH SOLAR TECHNOLOGY OF THE YEAR (MODULES)

Adani Solar

SERVICE EXCELLENCE AWARDS

SERVICE PROVIDER OF THE YEAR: DISTRIBUTOR

Hooksun India Pvt Ltd

SERVICE PROVIDER OF THE YEAR: CONSULTING(HYBRID PROJECTS)

SgurrEnergy

SERVICE PROVIDER OF THE YEAR: CONSULTING (SOLAR PROJECTS)

SLnko Energy Pvt Ltd

BEST TECHNICAL SERVICE SUPPORT

GoodWe

SERVICE PROVIDER OF THE YEAR: SUPPLY CHAIN MANAGEMENT LOGISTICS

SLnko Energy Pvt Ltd

AWARDS

Congratulations to all the BUSIN NNERS

SOLARQUARTER

STATE LEADERSHIP AWARDS MAHARASHTRA

2024

STATE MARKET LEADER AWARD

STATE MARKET LEADER AWARDMODULES

Navitas Green Solutions Pvt. Ltd.

STATE MARKET LEADER AWARD (INVERTER) - PLATINUM

SOLIS

STATE MARKET LEADER AWARD (INVERTER) - DIAMOND

ShenZhen Growatt New Energy Co. Ltd.

SMART TECHNOLOGY INNOVATION OF THE YEAR

SMART TECHNOLOGY INNOVATION OF THE YEAR - ENERGY STORAGE SOLUTION

INVERGY India Pvt. Ltd.

SMART TECHNOLOGY INNOVATION OF THE YEAR - INVERTER

GoodWe

SOLAR SYSTEM INTEGRATOR OF THE YEAR

INFISOL

ENERGY

STATE DISTRIBUTOR OF THE YEAR

STATE DISTRIBUTOR OF THE YEAR

POWERnSUN

BEST PROJECT OF THE YEARSOLAR PARK

Fourth Partner Energy Pvt. Ltd.

BEST PROJECT OF THE YEARINDUSTRIAL

Chirayu Power Pvt. Ltd.

AWARDS

Congratulations to all the

BUSINESS EXCELLENCE AWARDS WINNERS

SOLAR DEVELOPER OF THE YEAR

GSE Renewables India Private Limited

SOLAR EPC COMPANY OF THE YEAR - C&I (CAPTIVE)

Chirayu Power Pvt. Ltd.

SOLAR EPC COMPANY OF THE YEAR - OPEN ACCESS (C&I SECTOR)

Kalpa Power Pvt. Ltd.

SOLAR EPC COMPANY OF THE YEARRESIDENTIAL

Deccan Rays Solar and Energy Projects Llp

RISING STAR - SOLAR EPC COMPANY OF THE YEAR (RESIDENTIAL)

Swayamurja Renewable Energy Pvt. Ltd.

BEST SELLING INVERTER OF THE YEAR

Sungrow India Pvt Ltd.

BEST AFTER SALES SERVICE PROVIDER OF THE YEAR - SOLAR INVERTER

Celestial Renewexperts Llp

SOLAR CONSULTING COMPANY OF THE YEAR

Reinitiatives Energy and Infra Pvt Ltd

RISING STAR - GREEN ENERGY ADVISORY & SERVICES

Swayamurja Renewable Energy Ltd. Pvt.

MARKETING MAVERICK OF THE YEAR

Amit Thussu Head - Marketing, Solex Energy

BEST PROJECT MANAGEMENT TEAM OF THE YEAR

Reinitiatives Energy and Infra Pvt Ltd