SolarQuarter August Issue 2018 by SolarQuarter

REI 2018 SPECIAL ISSUE

www.solarquarter.com

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Volume 08. l Issue 8

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August 2018

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INDEX EXCLUSIVE INTERVIEWS

ADVERTISERS INDEX Jinko Solar.................................................................. Front Cover Ginlong Solis.................................................................... Gatefold Ganges Internationale.......................................................... pg 2 Gsolar....................................................................................... pg 3 Goldi Solar.............................................................................. pg 5 Ilios Power............................................................................... pg 7 Saatvik Green Energy............................................................ pg 9 Suntech.................................................................................. pg 11

MR. SUNIL RATHI

Director

Longi Solar............................................................................ pg 15

� Indian News ..................................................06

Lubi Solar.............................................................................. pg 21

� International News......................................08

Redington.............................................................................. pg 24

Director SANELITE

Harsha Abakus..................................................................... pg 27 Infineon................................................................................. pg 29

- Huawei.................................................................20

SMA........................................................................................ pg 31 TMEIC..................................................................................... pg 33

- SMA.......................................................................30

Vishakha Renewables......................................................... pg 37

� Solar Rooftops – O&M Challenges

Waaree Energies.................................................................. pg 39 Matri shree Green Solar..................................................... pg 41 Sova Solar.............................................................................. pg 42 Sofar Solar............................................................................. pg 43 Insolation Energy................................................................. pg 44 Avi Solar................................................................................. pg 45

MR. BASANT JAIN

� We Optimize, You Capitalize!

Huawei............................................................................. pg 34-35 Aarvi Encon........................................................................... pg 38

SPECIAL HIGHLIGHTS � Innovation And Mutual Benefit — Smart PV Leads The Future

Scorpius Trackers................................................................. pg 25

MR. BHAVESH MODI

NEWS AT GLANCE

ARS SolarTech....................................................................... pg 19 Enphase................................................................................. pg 23

To book your space in the upcoming special issue, please contact: Meghna Sharma  m : +91 8850563096  e: sales@firstviewgroup.com

Sineng.................................................................................... pg 13 Ingeteam............................................................................... pg 17

Waaree Energies Limited

INDIA’S MOST READ SOLAR ENERGY MAGAZINE

-Avi Solar................................................................45 � Sardar Vallabhbhai Patel International Airport – Ahmedabad Will use solar power and believing in solar is the future elsewhere -Prozeal Infra Engineering Private limited....................................................................58

West Coast Engg. Works.................................................... pg 46 Sanelite.................................................................................. pg 46

Chief Executive Officer

Waaree Energies.................................................................. pg 48

Mahindra Susten Private Limited

Redington.............................................................................. pg 49 Redington.............................................................................. pg 51 Avant Garde.......................................................................... pg 52

SPECIAL HIGHLIGHTS � SAAJ .................................................................32 � SOFAR SOLAR................................................36

Oorja on Move..................................................................... pg 52 Isothermal Technology....................................................... pg 53 L&T Construction................................................................ pg 55 Akshar Electric...................................................................... pg 57 Apar Industries..................................................................... pg 59

DR. WEIMING ZHANG

Exclesior................................................................................. pg 61 Power-One Micro systems................................................. pg 61

CTO, EVP

Topsun Energy...................................................................... pg 63

Heraeus Photovoltaics

Halkyn Food Technologies................................................. pg 65 FLIR Systems......................................................................... pg 65 Brij Encapsualnts.................................................................. pg 67 Tata Bluescope Steel........................................................... pg 67 Goodwe................................................................................. pg 71 Vikram Solar............................................................... Back Cover

MR. RAJNEESH RANA

PUBLISHING: FIRSTVIEW MEDIA VENTURES PVT LTD EDITOR: VARUN GULATI SUBSCRIPTION AND CIRCULATION : CHANDAN GUPTA KUNAL VERMA subscribe@firstviewgroup.com EDITORIAL: NEHA BARANGALI | neha@firstviewgroup.com SANJANA KAMBLE | ANUSHARON NAIR publishing@firstviewgroup.com BUSINESS DEVELOPMENT:

General ManagerContracts & Business Development Energy Efficiency Services Ltd. (EESL)

SURABHI KAUSHAL SHALMALI HALDIPURKAR EKTA PUJARI bd@firstviewgroup.com PRINTING/PROCESSING MR. MANISH GUPTA President NIMMA (North India Module Manufacturer Association)

VAIBHAV ENTERPRISES MR. MUKESH SHARMA Director Adhyan Projects Pvt. Ltd. (APPL)

OFFICE: FirstView Media Ventures Pvt. Ltd. 907, NMS Titanium, Plot No. 74, Sector 15, CBD Belapur, Navi Mumbai, Maharashtra, India. 400614.

• e: publishing@firstviewgroup.com • w: www.firstviewgroup.com MR. ARJUN MEHTA Associate Director Business Development Solar Town

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Indian News

ELIEF FOR SOLAR PANEL IMPORTERS WITH PROVISIONAL STAY ON SAFEGUARD DUTY Move will provide interim relief to importers; whether duty would eventually be payable would depend on the finalisation of the proceedings before the High Court. The ministry of finance has allowed a ‘provisional stay’ on imposing safeguard duty on imported solar cells and modules in India. The department of revenue in its notice

without electricity. The commissioning of the two micro

dominated by Chinese companies due to their competitive

hydel power sets having capacities of 100 KW and 56 KW

pricing. The surge in imports led the government to impose

at Leimakhong in 1930 by the then Manipur State HE Board

a safeguard duty from 30 July on solar cells and modules

marked the beginning of the use of electricity in Manipur (

imported from China and Malaysia.

website of Manipur State Power Company).

ERALA GOVERNMENT TO ENCOURAGE FISHING BOATS TO TAP SOLAR ENERGY

AFEGUARD DUTY COULD JEOPARDIZE GROWTH OF SOLAR POWER IN INDIA: TERI Finance Ministry’s recent decision to impose safeguard

issued dated August 13 said that due to an order by

A policy is in the making to encourage the fishing boats

Odisha High Court imposing stay on safeguard duty on

duty on solar imports is likely to increase the cost of power

in the country to tap the potential of solar energy. The

solar panels, the department has decided to “not to insist

for discoms and end consumers, resulting from a spike in

objective is to convince fishermen to use solar panels for

on payment of safeguard duty.”

solar tariffs, the energy and resources institute (TERI) has

the boats’ auxiliary power requirements such as lighting,

said. The decision could put at risk, the achievement of

This would come as a temporary relief for the solar power

net handling, etc.“Prototypes have been developed and are

India’s solar capacity addition targets, it said.

producers importing solar panels. The department of

functional in the backwaters of Kerala. The extrapolation

revenue in its notice said, “Accordingly, till further direction

to fishing boats is a vision at present, and consultations

from the Board, solar cells and modules, be assessed

are on with interested entities. Discussions have been held

provisionally on furnishing of simple letter of undertaking

with maritime boards, International Solar Alliance and

by the concerned person.”

some ports,” Malini V Shankar, director general of shipping and secretary to the Government of India, told Express.

INENG 3GW INDIAN FACTORY INAUGURATED AT BENGALURU

Sineng Electric announced and celebrated their first overseas factory at Bengaluru. The manufacturing base is located at Bengaluru, the capital of Karnataka, India, with an annual production capacity of 3 GW to meet the growing demand in India and surrounding overseas market. The operation of the

OTOWATIO RENEWABLE VENTURES LOOKS TO EXIT SOLAR PROJECT IN INDIA

Fotowatio Renewable Ventures (FRV), owned by Abdul Latif Jameel Energy and Environmental Services, plans to exit its only investment in the Indian solar power space, said two people aware of the development.

Indian manufacturing base sets a new milestone in the

Edelweiss Infrastructure Yield Plus Fund and Actis LLP’s

development of Sineng Electric’s business in India and

Sprng Energy Pvt. Ltd have evinced interest in FRV’s

throughout the whole overseas market.

solar power project located in Ananthapuramu Solar

Mr. Wu Qiang, Chairman of Sineng Electric, said in an interview that the company takes part in India’s vision of “Power for All” & endeavors our contribution to achieve this in sustainable way. From the Indian Factory, Sineng Electric will cater to the local market, UAE & nearby South Asian countries. In near future, Indian factory will become production base for company’s overseas export business.

NERGY AS AN ALTERNATIVE SOURCE OF POWER FOR MANIPUR

Standard of living in different countries is measured by many parameters. Per capita consumption of electricity is one of the parameters to measure the status of economic development. There is a positive correlation between per capita income and per capita electricity consumption. According to World Bank report on per capita electricity consumption in kWh(unit of power) for 2014, India’s figure was 806, while China’s 3927, and USA’s 12,984. In the data available at trak.in, Goa at 2005 units and Puducherry at 1865 units account for maximum per capita consumption of electricity in India. States of Bihar (117.48 kWh), Manipur ( 207.15 kWh) & Assam (209.20 kWh) show the lowest per capita consumption of electricity in

Park in Andhra Pradesh. Greenstone Energy Advisors, an investment bank focused on the Indian renewable energy sector, is running the sales process. The proposed exit by FRV, the largest Arabian green energy utility, comes at a time when Indian solar tariffs are hovering around record lows. The winning tariff for a 2,000 megawatts (MW) tender by state-run NTPC Ltd last week was at ₹2.59 per unit. In May 2017, India had achieved a record low solar power tariff of ₹2.44 per unit. In early July, tariffs had again touched ₹2.44 per unit in an auction conducted by state-run Solar Energy Corp. of India Ltd (SECI).

NDIA UPBEAT ABOUT MEETING 100GW SOLAR POWER TARGET BY 2022

The Indian solar module market is dominated by Chinese firms, with most solar power developers been sourcing solar modules and equipment from China, where they are cheaper. India is confident of achieving its ambitious target of 100 gigawatts (GW) solar power by 2022 despite the imposition of a safeguard duty on imported solar components, said the top bureaucrat in the ministry of new and renewable energy.

the country. The national average per capita electricity

“We will definitely not only meet the target but will also

consumption was 778.63 units.

exceed it. We would also work towards assuring it at

The reason behind poor per capita consumption of electricity consists of lack of industries, which consume

affordable rate to the people,” Anand Kumar, secretary in the ministry, told Mint in a phone interview.

bulk power, non-electrification of rural and hilly areas,

The government’s assertion comes amid state-run NTPC

non-availability of electricity and poor load due to less

Ltd on Monday deferring by a week a tender for 2,000

appliances used.

megawatts (MW) solar power.

Everybody knows that no development can take place

The fast-growing Indian market for solar components is

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India has set itself a target of achieving 175 GW capacity from renewable energy sources by 2022. This target was recently revised to 227 GW, with with over 100 GW expected to come from solar projects. “Levying of safeguard duties may not help the domestic industry. It would on the other hand, increase cost of solar power, making it less attractive to the buying utilities, and thus jeopardising the pace of growth of development of solar power,” said Ajay Mathur, director general, TERI.

REST URGES UT POLICE TO PROVIDE SPACE TO INSTALL SOLAR PANELS IN ITS BUILDINGS

Chandigarh Renewable Energy and Science & Technology Promotion Society (CREST) has urged Chandigarh Police to make arrangements for installing solar panels in all its buildings as only 11 out of a total of 37 had been equipped with the system in the last two-and-a-half years. The issue has been taken up by IFS Santosh Kumar, CEO of CREST, the monitoring authority, and Chief Conservator of the union territory (UT) forest department. The total capacity of the installed system in the 11 buildings is 705 kilowatt ‘peak’ (kWp). These buildings are police headquarters, Sector 9; police lines, Sector 26; Sectors 36, 34, 26 and Manimajra police stations; Recruitment Training Center, Sector 26; DSP office police lines-26; MT Section in Sector 26; Horse Stable building in Sector 26 and Indian Reserve Battalion (IRB) complex in Sarangpur.

UMBAI CITY GETS THE LARGEST ROOFTOP INSTALLATION ON A CRICKET STADIUM IN THE WORLD

� An iconic marquee premises in South Mumbai has turned to Renewable Energy by installing a rooftop Solar PV project to generate clean and green power to supplement its energy requirements. � With the completion of the newly installed 820kWp roof top solar system on the roof of Brabourne Stadium, CCI is now on a striking path to energy independence. This is the largest project implemented on a single roof by a private entity in Mumbai. � This project will be the largest rooftop solar PV installation on a cricket stadium in the world. � Having previous installed a 45kW system a few years ago under the net metering scheme, it stands no surprise that the CCI committee and members alike chose to build a clean, renewable and sustainable tomorrow for their future generations.

Solar Quarter • August 2018 8

Admin 46kW

IIT 220kW

Girls Hostel 50kW

BPT 44kW

Admin 46kW

Central Store 90kW Speciality Ward 160kW

Chest 140kW

Nephro 110kW

JNTU 500kW

Central Building 135kW

Padmavati 200kW

Professor Housing 122kW

DSNUBH 270kW IIT 220kW

Speciality Ward 160kW Nephro 110kW SBI 90 kW

GMC 250kW Chest 140kW

SBI 90 kW KRK 75 kW

SVIMS 1000kW JNTU 500kW Padmavati 200kW IIT 220kW

KGH 250kW

IIT 220kW

SVMC 250kW BPT 44kW CGH 150kW Nephro 110kW

BPT

44kW

ENT 150kW DSNUBH 270kW

PVP 120 kW

IIT 220kW

JNTU 500kW

LVPEI 120kW

KGH 250kW

KHIT 100 kW MYHOME 50 kW VIMS 220kW Victoria 50kW DSNUGH 120kW

Mental Care 136kW Chest 140kW

AH Narsipatnam 120kW IIT 220kW AH Anakapalli 120kW

RIMS College 72kW RIMS Hospital 250kW

Palakonda 72kW DSNUGH 120kW Nephro 110kW IIT 220kW Nursing 72kW

MYHOME 50 kW

JNTU 500kW Chest 140kW

Nursing 72kW Boys Hostel 60kW

Maternity Ward 200kW

Central Building 135kW

AH Narsipatnam 120kW Tenali 200kW KHIT 100 kW

Maternity Ward 200kW

KGH 250kW

GGH 200kW GMC 250kW

Bapatla 220kW Fever Hospital 50kW

NG Ranga 50kW NTR

250kW

LVPEI 70 kW PVP 120 kW

Speciality Ward 160kW

Maternity Ward 200kW KGH 250kW

BPT 44kW Bora Agro 780 kW DLF 100 kW Chest 140kW Central Building 135kW

Boys Hostel 60kW AH Anakapalli 120kW

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Solar Quarter â&#x20AC;¢ August 2018 9

International News

PA INKS RENEWABLE ENERGY DEAL WITH KOREAN COMPANY

and residents who have decided to cut their utility bills by

green power generation by 2022, including 100 GW of

going solar.

solar power. India is making good progress on these goals,

GPA has taken another big step forward in reducing its

The self-guided tour is expected to give thousands of

increasing solar capacity by 370% in three years, making

reliance on fossil fuels. Officials signed off Wednesday

people across Illinois a first-hand experience with renewable

solar its fastest growing energy source.

on a new renewable energy deal that is expected to save

energy. This tour creates an opportunity for participants

The solar project by CLP India Veltoor in the southern Indian

ratepayers an estimated $20 million over the next five years.

to gain valuable insight on the costs, processes, as well as

state Telangana is one of the larger solar projects in the

the economic and environmental benefits of going solar.

country. This 100-MW plant, was developed by SE solar Ltd

Illinois is on the verge of a solar energy boom thanks to

(SPV of Suzlon Energy Ltd and CLP India) and commissioned

the implementation of new legislation, making the tour

in phases starting mid-2017 and supplies energy to the

a great way to learn about how to take advantage of the

Telangana Southern Power Distribution Company Limited.

opportunities this affords.

The certificate confirms all relevant safety features of the

Korea-based Hanwha Energy is GPA’s newest renewable energy partner, and will build a solar plant in Dandan Inarajan near the existing NRG solar farm. Ik Pyo Kim is a Senior Vice president with Hanwha. He says the parent company has been in business for sixty years. “And Hanwha energy being the solar development company we have developed almost forty projects in the U.S., Japan, and Korea, and Europe and South Asia. And I believe the project in Guam will set a very monumental milestone toward one of our pipelines and projects,” said Kim.

OLAR STARTUPS ARE PLUGGING AFRICA’S ENERGY GAP

Life without electricity can be dangerous and difficult. While Scranton, Pennsylvania earned the moniker “Electric City”

He also says the panels and equipment are designed to

in 1880, 90% of rural Americans still lacked power by the

withstand typhoon strength winds. Meanwhile GPA general

1940s. When the wealthiest nation is just a few decades

manager John Benavente says the new plant will include

removed from full electrification, does this make electrifying

battery storage to deal with system intermittency when

Africa, where nearly 600 million live without it, the world’s

the sun’s not shining. In all, the new farm will add up to

most urgent yet daunting developmental challenge?

60-megawatts to the islandwide system, or more than 9-percent of GPA’s current capacity.

AJORITY OF UK PUBLIC WANT TO INSTALL SOLAR PANELS, POLL FINDS

More than 70% would make homes more energy efficient given government support. More than half of the British public would install solar panels and home batteries to tackle climate change if there was greater assistance from the government, polling has found.

solar park and demonstrates the technical compliance of the project with the globally recognized standards. Certification of the Veltoor Solar Power Project was carried out according to the service specification DNVGL‑SE‑0078 Project certification of photovoltaic power plants. This is the world’s first, and currently only, global guideline for certifying solar PV projects.

Africa has emerged as a hotbed for solar investment. In the

ERANO CAPITAL WINS LARGE PORTION OF ARGENTINA’S SOLAR TENDER TO DELIVER 100 MW PROJECT

last three years, solar has been one of the most popular

This is yet another achievement for the company, who

sectors for development institutions and private sector

completed the development of a project that was awarded a

investors targeting areas with significant potential for social

large chunk of the Chilean energy auction just 2 weeks ago.

and economic returns. In October, M-KOPA, one of East Africa’s leading pay-as-you-go energy providers, secured a total of US$80 million to finance solar installations in one million homes over the next three years. In 2016, Lumos raised $90 million from private equity investors and development banks to expand more pay-asyou-go solar power systems in Nigeria. Earlier that same

While many have already made their home more energy

year, BBOXX Ltd. raised $20 million in equity in August,

efficient, 62% said they wanted to fit solar and a surprisingly

while d.light Energy Pvt Ltd. followed soon after, raising

high 60% would buy an energy storage device such as those

$15 million in September 2016. The mix of players at the

sold by Tesla.

table as well as the scale of financing is a testament to the

An even greater number – 71% – would join a local energy

confidence that off-grid solar is more than just the darling

scheme such as a community windfarm or solar panel

of impact investors.

collective, according to the YouGov survey.

The VeCaSo-1 100 MW project is set to be completed in 2019 and will run on a 20-year “take-or-pay” power purchase agreement. Within this PPA framework, the generator takes on the production risk, with its plant expected to deliver power on a must-run basis. CAMMESA, Argentina’s national utility company, on the other hand, must integrate all of the plant’s output, or remit compensatory energy payments if it fails to do so.

UCSON ELECTRIC PROCEEDING LAYS GROUNDWORK FOR CUSTOMER SOLAR+STORAGE RATE

OLAR START-UP CYGNI ENERGY RAISES $6.4 MILLION IN DEBT AND EQUITY FUNDING

Residential solar and storage advocates are waiting to learn

Cygni Energy Private Limited, a solar DC and microgrid

The Arizona Corporation Commission (ACC) could vote on

solutions provider, has raised $6.4 million in funding through

“Phase 2” proposals from Tucson Electric Power (TEP) and

NRG Systems, which has been a major force in the wind

a combination of equity and debt funds.

its sister-utility UniSource Energy Services (UES) for new

resource assessment industry for over 35 years, is best

The funds will be utilised in expanding its capacity,

RG SYSTEMS AND LASSER EÓLICA PARTNER TO OFFER LATTICE TOWER SOLUTIONS IN EUROPE, NORTH AFRICA AND MIDDLE EAST

known for its turnkey tubular tilt-up towers. However, as wind turbines continue to grow in scale, so does the demand for lattice tower systems, which excel at capturing hub height measurements greater than 80 meters, when tubular towers are not an option.

increasing market reach.

law judge order from April, which recommended a special

The equity funding has been provided by Endiya Partners, a leading early-stage venture capital firm that invests in product start-ups. The debt funding has been made possible

is now able to offer complete lattice tower solutions to

Cygni raised its initial funding, and also received a grant

customers in regions where this method of wind resource

from Millennium Alliance (FICCI in partnership with USAID,

assessment is preferred. These systems include a Lasser

TDB, and World Bank) for developing solar-DC microgrid

Eólica-manufactured lattice tower as well as NRG sensors

systems.

as well as installation support for NRG tubular tower systems in Europe, North Africa, and the Middle East.

the world’s fastest growing source of energy on September 22 when over 100 solar homes and businesses across the state open their doors to the public for the Illinois Solar Tour. The Solar Tour, hosted by the Illinois Solar Energy Association (ISEA), is a FREE open house event that allows the public to view real-life examples of nearby businesses

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rate proposal for solar customers with home battery storage systems. The recommendation, flagged once more by the Arizona Daily Star, was proposed by solar-industry groups and is similar to Arizona Public Service’s (APS) pilot rate plan for behind-the-meter load controllers such as batteries.

Cygni manufactures solar controllers and provides various

OMPACT AND POWERFUL: GOODWE ET SERIES DELIVERS INDEPENDENCE AND NON-STOP ENERGY!

solar DC and microgrid solutions, and its products are in

GoodWe has recently launched its brand-new ET Series

use in more than 20,000 homes, according to the company’s

three-phase high voltage energy storage inverter for both

statement.

households and commercial applications. The series is the

HOUSANDS WILL VISIT ILLINOIS NV GL ISSUES WORLD’S FIRST SOLAR T SOLAR INSTALLATIONS DURING THE D PLANT PROJECT CERTIFICATE TO 2018 ILLINOIS SOLAR TOUR CLP’S VELTOOR SOLAR POWER PROJECT Thousands of Illinois residents will get an up-close look at

rooftop solar as soon as their open meeting in September. The commissioners could also incorporate an administrative

by IndusInd Bank, a leading private bank in India. In 2014,

development through operation for lattice tower systems,

customers in Southern Arizona.

strengthening research and development capabilities, and

Thanks to NRG’s partnership with Lasser Eólica, the company

and data logger. Lasser will provide project support from

about changes to incentives for new distributed resources

IN INDIA The ever-increasing demand for reliable, affordable and low carbon electricity has driven a global upsurge in renewable energy resources. In 2016, India’s Ministry of New and Renewable Energy has announced the world’s largest renewable energy expansion

most compact and lightweight inverter in the market with maximum efficiency of 98.3%, equipped with Uninterruptible Power Supply (UPS), backup overloading, AC charging functions and open-protocol EMS communication system. Covering a power range of 5 kW, 8 kW and 10 kW, the ET Series allows 30% DC oversizing to fully maximize yield during extreme hot and cold weather and features a wide battery voltage range of 180 – 550 V to ensure customers flexibility choices and compatibility with different type of lithium battery.

programme, with the stated aim of reaching 175 GW of

Solar Quarter • August 2018 10 Solar Quarter • August 2018 10

PIONEERING INDIA’S SOLAR REVOLUTION VISIT US AT

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Solar Quarter • August 2018 11

In Conversation “WITH THE EXPANSION OF OUR MANUFACTURING CAPACITY TO 1.5 GW, WE HAVE BECOME THE LARGEST SOLAR MANUFACTURERS IN INDIA”

MR. SUNIL RATHI Director Waaree Energies Limited

based on the same, to become better equipped to cater to

while maintaining the delivery of top quality products. In

solar demands in the country. In addition, this decision also

addition, we are also constantly working on developing

stems from our commitment of aiding the Government

modules that can sustain extended tests to maintain the

reach the ambitious target of 227 GW by 2022. Our new state-of-the-art facility will have a daily manufacturing capability of 4 MW, and is expected to create 400 direct and 1000 indirect jobs.

HOW IMPOSITION OF SAFEGUARD DUTY ON IMPORT WILL HELP THE DOMESTIC MANUFACTURING SECTOR? WAAREE HAS TRIPLED ITS MODULE MANUFACTURING CAPACITY. CAN YOU SHARE MORE INSIGHTS ABOUT IT? With the expansion of our manufacturing capacity to 1.5 GW, we have become the largest solar manufacturers in India. Our first plant, which has a manufacturing capacity of 500 MW, was established in Surat in 2007. The additional 1 GW will come from our new manufacturing facility in Vapi,

The imposition of safeguard duty paves way for a level playing field for domestic manufacturers in India. We are aware that this would mean that manufacturers will have to be more competitive to be successful, it opens up opportunities for us to showcase our manufacturing capabilities and scale our operations. We also expect a

WHAT SUPPORT DOMESTIC MANUFACTURING IS GETTING FROM GOVERNMENT FOR THE DEVELOPMENT OF THE SECTOR? We have seen the commitment of the Government towards transitioning India to become a country primarily reliant on renewable energy, which is evident from the current revised renewable targets of 227 GW. The Government is playing an active role in promoting the sector by offering various incentives through subsidies and funding among others.

boost to the country’s current manufacturing capacity, and

Our faith in the Government’s support of domestic

encourage new entrants into the sector.

manufacturers

for the solar transformation in India, and we are always

HOW R&D AND TECHNOLOGY UPGRADATION IS DONE AT WAAREE TO BE AT PAR WITH COMPETITORS?

seeking new avenues to enhance our capabilities to make

We have a dedicated R&D team, which is currently working

solar power accessible to all. The decision to expand was

to enhance the productivity of our existing facilities

Gujarat. Waaree Energies has been a preferred partner

superior quality that our products are known for.

was

further

strengthened

with

the

announcement on the imposition of the safeguard duty. Given a conducive environment, Indian manufactures are capable of innovation, product efficiency and quality. Safeguard duty is bound to ensure an even playing field for both domestic and imported products.

“SANELITE SOLAR IS A PREFERRED MANUFACTURER OF HIGH-QUALITY PV MODULES OF CAPACITY 40WP TO 335WP” WHAT HAVE BEEN SOME OF THE RECENT DEVELOPMENTS AT YOUR ORGANISATION? MR. BHAVESH MODI Director SANELITE

At Sanelite Solar, we believe in growth through people partnership. For last two years, Sanelite has been successful in creating a strong network of more than 25 franchisee across the state of Gujarat. In addition to providing top-notch solutions for solar rooftop, this wellspun network help us achieving our main goal of giving the best in class service to our customers. The company plans to expand its presence throughout

LET’S BEGIN WITH A GLIMPSE OF YOUR COMPANY’S PRESENCE AND OFFERINGS IN INDIA ? Sanelite Solar, a green initiative from Sanelite Group, is a pivotal company in the area of renewable energy providing end-to-end solar PV solutions from manufacturing solar PV modules to solar EPC installations. The company carries with it many years of experience in solar industry and a strong financial background from Sanelite Group. Sanelite Group has forayed into multiple verticals over the years with a sole purpose of creating value for the society, its customers and partners. Sanelite Solar is a preferred manufacturer of high-quality PV modules of capacity 40Wp to 335Wp. The state-of-the art production line is carefully designed ultra-modern line with high efficiency automatic laminator and auto-tabber & stringer machines.

India in FY 2018-19. The company would carry over the same partnership drive across India through a superior dealership model. The dealer network shall be utilized for the sale of some innovative products like Solar DIY kits for Solar Rooftops and Solar Pumps in addition to our highefficiency PV modules. At Sanelite, we believe in giving back to the society. We work with various educational institutes who conduct courses related to renewable energy for industry-facing engagement of students by indulging in various research and development activities.

TELL US A BIT ABOUT THE RECENT TECHNOLOGY ADVANCEMENTS IN YOUR SECTOR?

generate electricity by capturing light from both sides of the module. Another product that we recently started supplying is Half-Cut Cell Modules. These modules are made from half-cut cells increase the modules efficiency by reducing resistance through the module, exposing more cell area to sunlight and increasing the amount of light absorbed. We actually tested similar product earlier this year for some of our solar pump installations where there was a need for higher voltage, and it had received a very good response.

WHAT ARE YOUR GROWTH PLANS FOR THE INDIAN MARKET? WHAT ARE THE MILESTONES YOU WISH TO ACHIEVE BY THE END OF THIS FISCAL? As said earlier, the company is planning to expand its presence pan-India in FY 2018-19 along with strengthening its existing franchisee network. We are currently in discussion with many prospective partners and closing the deals. We plan to have our network serving clients in most major towns and cities of India and thus are in active discussion with various distributors & channel partners.

the creating and adapting to new technological changes.

WHAT HAVE BEEN THE LATEST TRENDS IN DEMAND FOR YOUR PRODUCTS & SERVICES IN INDIA? WHERE DO YOU SEE THE NEXT DEMAND GROWTH COMING FROM?

Sanelite Solar has a well-trained experienced team of

We have grown steadily on our own strengths,passion

Solar being a technology driven market needs one to be

professionals with a high spirit who keeps on developing

and quality delivery promises. Even though being a

The company also offers end-to-end solar EPC solutions,

new and innovative products and improving on the

grid-connected solar PV systems, off-grid solar PV

existing products.

systems, solar power plants, rooftop solar PV systems as

In this quest for creating better products, we recently

is steadily growing, starting from Gujarat, we are now

well as integrated PV systems. We are authorized channel

developed Bi-facial Modules which are very high

supplying in neighbouring states as well. We expect

partner of MNRE and GEDA for solar rooftop projects.

efficiency solar modules that have the capability to

similar trend as our dealer network grows this year, and

comparatively smaller manufacturer, we have received great feedback from our customers. The customer base

we promise to provide the best-in-class products and services.

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Solar Quarter • August 2018 12

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Solar Quarter â&#x20AC;¢ August 2018 13

In Conversation “OUR VISION IS TO BECOME THE WORLD’S MOST ADMIRED BRAND IN SUSTAINABLE INFRASTRUCTURE & RENEWABLE ENERGY”

power by smartly alternating between solar diesel

WHAT TECHNOLOGICAL BREAKTHROUGHS CAN WE EXPECT FROM YOUR COMPANY IN THE COMING YEARS?

generator output), energy storage solutions and to adopt

Apart from creating value products for renewable sector,

to new emerging sectors like floating solar. These products/

Mahindra Susten aims to design and adopt automated

solutions will focus on making affordable solar energy

trenching, usage of drones and high-end analytics i.e.

available to a wider customer base.

geospatial software for effective site contour analysis and

Apart from EPC projects, the company is focusing on creating value products in Solar like solar tracker, solar water pump, DG-PV hybrid system (that provides reliable MR. BASANT JAIN Chief Executive Officer Mahindra Susten Private Limited

LET’S BEGIN WITH A GLIMPSE OF YOUR COMPANY’S PRESENCE AND OFFERINGS IN INDIA? Mahindra Susten delivered their first utility-scale solar PV project in 2011. Since then Mahindra Susten has successfully executed 1.21 GW of grid connected solar

WHAT INNOVATIONS HAVE BEEN MADE IN THE RECENT YEARS IN THE UTILITY INDUSTRY? HOW FAR HAS THIS INDUSTRY COME FROM ITS INITIAL YEARS?

drainage, cloud based 24/7 monitoring and testing kits to ensure robust checks on construction related quality and faster synchronization of PV projects support during charging of PV plant. In addition to this, Mahindra Susten has designed and

Solar Industry has witnessed continuous improvements

developed India’s first state of art, in house mobile PV test

in recent years in terms of overall improvement in

lab (NABL certified) to improve plant performance and

the construction quality, cost-savings through value-

analytics and has plans to provide the same as third party

engineering, high-end analytics and an excellent customer

services.

experience. The industry has travelled from Kilowatt scale

Bi-facial PV modules, and by providing of higher efficiency

WHAT REVENUE AND PORTFOLIO TARGETS HAVE YOU SET FOR THE COMPANY OVER THE NEXT FINANCIAL YEARS

cells leading to higher Wp capacity of modules to as big as

Our vision is to become the world’s most admired brand in

500Wp PV modules.

Sustainable Infrastructure & Renewable Energy

its project execution capacity to target 1.5-2 GW of solar

The inverter technology has seen a big jump wherein the

By 2020 we aim to:

project execution in one year.

industry has shifted from <1 MW inverter to 2.5-3 MW

a. become $ 1 billion revenue company

projects and has 1.99 GW under execution as on date. This

to an ambitious target of 100GW of solar by 2022.

rapid growth has led Mahindra Susten to become one of

The rapid growth has been fuelled by improvements in

the leading players in solar industry in India.

module technology right from polycrystalline, Mono Perc,

Aligned with the Government of India’s Solar plans of targeting US$ 100 billion of investment and 100 GW of solar capacity by 2022, Mahindra Susten is ramping up

Mahindra Susten also achieved a major success in global market and has executed 6MW solar project in Thailand and has 400MW and 200 MW of solar project under execution in Saudi Arabia and Bangladesh respectively.

inverters. The shift in higher capacity central inverter has affected string inverter making their mark in multi MW

b. become preferred employer in India for superior talent

projects and such competing technologies and value

c. and deliver maximum value to our stakeholders while

engineering gives Solar industry an exciting ground for

working harmoniously with local and global community

continuous improvement and innovation.

“WE ARE VERY OPTIMISTIC ABOUT THE LONG TERM OUTLOOK OF THE INDIAN MARKET”

DR. WEIMING ZHANG CTO, EVP Heraeus Photovoltaics

LET’S BEGIN WITH A GLIMPSE OF YOUR HERAEUS PRESENCE AND OFFERINGS IN INDIA? Heraeus is a globally leading technology group. In 2017, Heraeus generated revenues of €21.8 billion. With approximately 13,000 employees in 40 countries, the FORTUNE Global 500-listed company holds a leading position in its global markets. Heraeus was founded in 1851 and is one of the top 10 family-owned companies in Germany. Heraeus group has been active in India since the 1930s; now we have more than 500 employees in India. Our Photovoltaics business unit has a strong global presence with multiple manufacturing, R&D, sales, and application engineering locations. Our main product is silver metallization paste which is used in manufacturing solar cells, for which we have >35% global market share. Additionally, we have strategic collaboration and development agreements to help several leading solar cell makers achieve efficiency gains. In the last 12 months, we have taken a leadership role in India and established dedicated local sales & application engineering team. This has enabled us to intensify our customer relationship and provide secure supply chain to our customers. Additionally, we have established dedicated resources in

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our Engineering & Technology Center in Singapore, to better tailor and further speed up customization of silver pastes for Indian cell manufacturers. As a result, we have solidified our position in the Indian market and have better understanding of customers’ needs and intricacies of serving them as compared to our competitors.

WHAT HAVE BEEN SOME OF THE RECENT DEVELOPMENTS AT YOUR ORGANIZATION? Heraeus continuous to dedicate resources to help customers achieve lower cost per watt by helping them take their efficiency to new heights. Earlier this year, we launched SOL9651 family of silver metallization paste which has received an overwhelming response from the market and boosted our global market share. The industry has appreciated the ultra-fine line print capability, excellent long term printability, high open circuit voltage (Voc), reduced silver consumption and overall higher efficiency generated by using the SOL9651 family of pastes. Additionally, we have expanded our products and solutions portfolio across the solar value chain and are offering cell line optimization service, screens, lamps, Heraglaze (diffusion barrier for making multicrystalline silicon wafers) and Hecaro (electrically conductive adhesives).

WHAT ARE YOUR GROWTH PLANS FOR THE INDIAN MARKET? We are very optimistic about the long term outlook of the Indian market. We plan to bring some of our cutting edge products to the Indian as the market leap frogs in its technological needs. With our expanded manufacturing capacity and global footprint, we have enough bandwidth to support the ambitious plans of solar photovoltaic installation and manufacturing in India. We will be unveiling our new products and solutions at the REI show.

WHAT HAVE BEEN THE LATEST TRENDS IN DEMAND FOR YOUR PRODUCTS & SERVICES IN INDIA? WHERE DO YOU SEE THE NEXT DEMAND GROWTH COMING FROM? Indian market is driven by economics and with the recent

TELL US A BIT ABOUT THE RECENT TECHNOLOGY ADVANCEMENTS IN YOUR SECTOR?

drop in PV prices the economics have become even

While PERC and Bi-Facial technology are very common globally, Indian players are now looking forward to adopting this technology. These technologies boost solar cell efficiencies to 21-22 %. In general, cell efficiencies are increasing at rapid pace and competing in the market requires increased R&D investments and quick turnaround time in cost reduction and optimization. This is only possible to achieve by working with companies such as Heraeus that are very innovative, present in entire value chain and have a global footprint.

bring another major tender of 80-100 GW; will boost

more lucrative. Additionally, the recently announced safeguard duties, and intention of the government to domestic manufacturing. We expect this to generate more investment in equipment and advanced technology. With our industry recognized technical expertise, broad range of advanced products & solutions we expect to be the first choice for domestic solar cell manufacturers to rely on. We are looking forward to expanding our market leadership that we have demonstrated in China and South East Asia to the Indian market.

Solar SolarQuarter Quarter• August • August2018 2018 1414

3.125MW

Central Inverter Solution Higher yields Lower system cost Suitable for harsh environments

Sineng Electric Co., Ltd. NO.6 Hehui Road, Huishan District, Wuxi, China

Sineng Electric (India) Pvt Ltd. Plot No. 56 & 57, Bommasandra - Jigani Link Rd Industrial Area, Bangalore, Karnataka, India w w w . s o l a r q u a r t e r . c o m

Booth Number - 10.48 Solar Quarter â&#x20AC;¢ August 2018 15

In Conversation “THE SOLAR ENERGY SECTOR IN INDIA HAS IMMENSE POTENTIAL AND IN THE LAST 4 YEARS, SOLAR CAPACITY HAS INCREASED BY OVER 8 TIMES TO 22,000 MW”

MR. RAJNEESH RANA General ManagerContracts & Business Development Energy Efficiency Services Ltd. (EESL)

EESL is also working in solarising India’s water pumps.

than the prevailing DISCOM commercial tariff and provides

Solar power provides a viable alternative to meet power

immunity to the rooftop owners on tariff variation for

requirements of farmers during day time. With India’s

25 years. The tariffs offered is without considering the

abundant daytime sunlight, the pump sets can irrigate

subsidy or viability gap funding. Apart from operation

the farms during the day time. Being traditionally subsidy-

and maintenance we would also design, supply, install and

driven, the farmers face high capital costs reducing uptake

commission the solar PV power projects for a period of

for solar pumps as compared to diesel and electric variants.

25 years. We are also striving at eliminating the subsidy

We are working to provide reliable solar power supply to

burden on the central or state governments.

agricultural pump sets by setting up solar mini-grids. Solar

In this regard, recently, EESL initiated two programmes.

powered PV pump sets can be used to irrigate the farms during the day time, thereby reducing dependence on diesel fuel and day time electricity. We will finance, design,

YOUR VIEWS ON THE PROGRESS OF SOLAR ENERGY SECTOR IN INDIA. WILL INDIA BE ABLE TO ACHIEVE THE SET TARGET? The Solar energy sector in India has immense potential and in the last 4 years, solar capacity has increased by over 8 times to 22,000 MW. With nearly 300 days of sunshine every year, the World Bank has described “India has among the best conditions in the world to capture and use solar energy”. No doubt, India has emerged as one of the top three solar markets in the world after China and the US. According to a report by US-based think tank Institute for Energy Economics and Financial Analysis (IEEFA), half of the world’s 10 largest solar parks under construction currently are in India. Further, the International Energy Agency (IEA) has pointed out that India’s renewable energy capacity will more than double by 2022, which would be enough to overtake renewable expansion in the entire European

install, own, and operate solar PV pumping on farms. The renewable solution will make it possible for farmers to receive considerable revenue monthly by selling the excess power to the grid for a period of 25 years. With enough and affordable irrigation, farmers will reap the benefits of increased crop yield. We will be providing star-rated pumps with VFD/Controller, and financing and installation, as well as free repair and maintenance for the contract period.

One is for solar rooftops mainly for the government buildings, schools, institutions, In the other programme, EESL is in the process of developing solar PV based projects for agricultural pump sets, small power plants on vacant unused lands at substations in various states across the country. EESL has partnered for powering rural substations for agricultural purposes. Since there are several substations that feed agricultural pumps in the state and there is a land available where mini-solar plants with a range of 0.5 MW to 2 MW would be set up by us. The tariffs would be at Rs 3 per unit for almost 25 years which is half the rate of grid-connected power. The lower cost of tariffs

WHAT ARE THE CHALLENGES FACED BY THE SOLAR INDUSTRY IN INDIA?

on offer is also due to the procurement of indigenously made solar power panels at very competitive prices.

One area of concern remains the rooftop solar segment. As

figure to be not more than 8 GW by 2023, because the

WHAT ARE THE POLICIES THAT SHOULD BE IMPLEMENTED BY GOVERNMENT FOR FURTHER UPLIFTMENT OF THE SECTOR?

cost of power here is expected to be far higher than from

When it comes to meeting targets, the need of the hour

per a report by Crisil, using the rooftops of commercial and industrial units to generate their own power and depend less on the grid—is 40 GW by 2022. Crisil expects this

the grid.

is to have uniform policies by the government around

It was also observed that there has been a slowdown in

net metering that will allow users to sell surplus power to

new capacity additions, after implementing two years of

electric utilities. Increased support from state electricity

growth across renewable energy projects. Diversion of a

utilities and distribution companies will also be critical

national clean-energy cess to subsidise GST-induced losses

here. The entire government machinery will also have to

and a new import duty to protect domestic manufacturers

make more investments in the solar power domain to

of solar equipment have led to a go-slow pace in the sector.

increase contribution from developers and investors.

energy efficiency initiatives to supply 24x7 electricity by

Dust, high temperatures and the dearth of water are also

India should also create a facilitative environment and

2030, India is evolving as a front runner in the global fight

leading to a significant increase in the cost of operating

redouble efforts to promote financing for clean energy. The

against climate change

solar power plants in the country. Some of these factors,

country must address various issues which are impeding

such as the level of dust particles and the type of dust,

growth of clean energy, and create a level playing field

vary from region to region within the country, while other

while enabling growth for solar and other forms of energy.

factors such as the hardness of the water and the shortage

Policy should be in place especially for rooftops, DISCOMS

of a skilled labour force are more general problems faced

should be partnered along with implementing agencies.

by plants across the country.

If there is any subsidy, then it should be passed on to

Union! This ongoing increase in solar power capacity over a short period of time comes in the wake of the government’s push for renewable energy, and its target of installing 175 GW of renewable energy (100 GW of this is from solar) by 2022. With strong focus on solar power, innovative solutions and

Like it is with any new technology, in solar as well, in spite of the initial challenges and uncertainties, we believe it can become a key component of India’s energy portfolio in the coming years.

HOW IS EESL SUPPORTING THE GROWTH OF SOLAR ENERGY SECTOR IN INDIA? India has firmly established solar energy as its leading pathway to a sustainable energy future. Bringing solar to the grid can provide an affordable, renewable, and low-carbon source of energy that can power India’s underserved regions. Towards this goal, the Ministry of New and Renewable Energy (MNRE) launched the Atal Jyoti Yojana (AJAY) to illuminate dark regions across five states through solar power with high mast solar LED street lights. These lights will be installed on major roads, markets, and public places, thereby contributing to safety, and enabling a better quality of life. EESL is implementing

DISCOM for rooftops and agricultural pumps.

AS OF TODAY, WHICH ARE THE KEY STATES INTO WHICH THE DEVELOPERS ARE KEEN TO INVEST?

RECENTLY, EESL INITIATED

The states which have a significant potential include Rajasthan, Madhya Pradesh, Uttar Pradesh, Andhra Pradesh, Gujarat, Maharashtra and Chhattisgarh. These

IS FOR SOLAR ROOFTOPS

states are attracting mega power plants and the reason is

MAINLY FOR THE

more number of sunny days and land availability.

GOVERNMENT BUILDINGS, SCHOOLS, INSTITUTIONS, IN

WOULD YOU LIKE TO SHARE ANY CURRENT ISSUES AND AGENDA ON WHICH EESL IS CURRENTLY WORKING ON?

face less than 50% grid connectivity in Uttar Pradesh,

implementation of energy efficiency initiatives in India

Assam, Bihar, Jharkhand, and Odisha with 300,000 high-

as well as overseas developed business models for the

mast solar LED street lights.

rooftop owners – CAPEX and RESCO. Under Capex model,

with solar study lamps in the cheapest and fastest possible way. EESL, along with IIT Bombay, is implementing the scheme in Assam, Bihar, Jharkhand, Uttar Pradesh, and Odisha. So far around 17 lakh solar study lamps have been distributed under this programme.

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Services

(EESL),

pioneer

EESL IS IN THE PROCESS

Energy

programme that aims to empower 70 lakh rural students

Efficiency

THE OTHER PROGRAMME,

the programme in rural, semi-urban, and urban areas that

MNRE’s 70 Lakh solar study lamps scheme is another

TWO PROGRAMMES. ONE

OF DEVELOPING SOLAR PV BASED PROJECTS FOR AGRICULTURAL PUMP SETS,

the rooftop owner will bear the upfront cost of the system

SMALL POWER PLANTS ON

while EESL will ensure complete system warranty for five

VACANT UNUSED LANDS AT

years. Under RESCO model, EESL will bear the upfront installation costs for the system and once the system has

SUBSTATIONS IN VARIOUS

been installed and commissioned, the power generated will

STATES ACROSS THE

be billed to the consumer at Rs 3.87/kWh with a nominal year on year escalation. These tariffs are about 40% lower

COUNTRY.

Solar SolarQuarter Quarter• August • August2018 2018 1616

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Solar Quarter â&#x20AC;¢ August 2018 17

In Conversation “INDIA’S DISTRIBUTED SOLAR PV WILL REMAIN TO BE A FRAGMENTED MARKET, WHERE SMALLER REGIONAL PLAYERS WILL CERTAINLY CONTINUE PLAYING A ROLE”

MR. ARJUN MEHTA Associate Director Business Development Solar Town

in certain states, understanding baseload consumption

executed quicker by smaller developers than their larger

patterns of the customer poses a consumption risk, as

counterparts.

excess generation cannot be fed back in to the grid.

Smaller developers can also look at diversifying in to

AS THE ASSETS BECOME OLDER, WILL AGGRESSIVE BIDDING TODAY BECOME A PAIN POINT FOR THE INDUSTRY A FEW YEARS DOWN THE LINE? Reverse tendering leads to a race to the bottom, which leads to the quality and project delivery risks as discussed earlier. As today’s asset become older, today’s tariff structures in long-term PPAs will face redundancy risks unless there is a

WHAT ARE THE RISKS TO THE NEXT STAGE OF DEVELOPMENT OF DISTRIBUTED SOLAR PV IN INDIA?

price floor or a quality driven tender process where project

In the current environment of extremely fragmented

is contrary to the need for infrastructure financing that

development of distributed solar PV generating assets

relies heavily on patient capital. Since many of the asset

in India, structuring an optimal and balanced portfolio

investors have built their portfolios with the intention

is absolutely critical in unlocking long-term value for a

of consolidating an asset book to be sold off to a larger

project developer or investor alike. But what makes it

aggregator.

Aggressive bidding also requires aggressive capital, which

mitigated?

WHAT SHOULD A LARGE PAN-INDIA PROJECT DEVELOPERS DO IN THE CURRENT ENVIRONMENT?

The first is understanding where the risks are embedded.

Larger, better funded developers must leverage their

In a price sensitive market such as India, long-term PPAs

country-wide footprint and access to capital must innovate

are often won on pricing, even if L1 is cheaper than L2 by

on portfolio structuring, especially from a financial

a fraction. However, the very nature of long-term contracts

engineering point of view. The issuance of green bonds,

require a deeper focus on quality of execution which

securing capital from sustainability-driven funds, raising

falls upon the EPC contractor, O&M provider and asset

patient capital from pension funds and DFIs as well as

manager where the theoretical life of a solar PV asset, say

finding a way to price the risk premium lower are some of

25 years, needs to be fulfilled. Stiff pricing negotiation for

the ideas larger developers can work on.

short-term gain does not always help in maintaining asset

With the focus from larger developers largely being

quality where allied components of the project delivery

restricted to customers with a stronger credit profile, the

value chain including construction risks, defects liability,

untapped customer segment are those in cyclical industries,

plant insurance, effective contracts administration and

with lower credit ratings and entities with newer balance

maintenance shortfalls.

sheets where we will most certainly see the next stage of

Due to the nature of solar power being an intermittent

penetration of solar PV in the Opex service model. Access

source of electricity, it cannot yet be a power source for

to the right kind of project debt, innovative financing

baseload consumption, for instance for a factory with

models, stronger contracts, shorter tenure contracts might

inductive load. Therefore, the dependence on the grid

emerge as suitable models to tap in to these segments,

or the dirtier cousin, diesel, poses a commercial risk

supported by the larger developers’ muscle.

in case the grid tariffs fall during the course of the PPA

Larger, most established brands must mobilise resources

tenure or ownership of the solar plant. This tenure risk

in to promoting dialogues with government on significant

is an increasingly viable event especially if we were to

policy moves that enable a framework for long-term

succeed in (or come close to) our renewable targets where

stability of the sector. These might include promoting

there would be a dumping of lower-LCOE denominated

a nationwide standardisation of net metering, trading

renewable energies in to the grid.

networks for RECs, stronger enforced RPO, recycling of

Rapid technological advancement in terms of solar panels

used solar hardware etc.

with higher efficiency and lower degradation, commercially

Finally, mega IPPs must view market consolidation with

available monocrystalline panels, inverters and BOS

the right intention to support smaller, regional players and

supporting lower energy losses, and energy storage will

building their asset books in a cohesive environment, rather

also pose the risk of redundancy during the lifetime of the

than with the intention of wiping the smaller developers

today’s plant.

out.

asset book? What are the risks, especially in the popular Power Purchase Agreement model, and might they be

Numerous asset owners face credit from the customer, even better branded conglomerates, owing to tariff transactions

weak

and

PPA

absence

contracts, of

over

enforceable

data analytics, asset management beyond O&M, energy consumption auditing etc. as well as cross sectoral opportunities for instance with electric vehicles, hybrid fuels, biogas, solar thermal etc. Disclaimer: All views and comments in this article are Arjun Mehta’s own and are not representative of his current or past employers. Arjun Mehta is a corporate finance and strategy professional in the distributed solar sector in India.

spec and technical norms drive participants.

structured? How would a portfolio investor manage the

renegotiations,

allied service streams including asset monitoring and

valued

WHAT SHOULD A SMALLER PROJECT DEVELOPER DO?

payment

India’s distributed solar PV will remain to be a fragmented

collateral. A strict customer and project appraisal as well

market, where smaller regional players will certainly

as portfolio diversity to ensure the capital is spread over

continue playing a role.

several assets in different discoms and with customers of different credit profiles is a way of mitigating this risk. Finally, policy complexity in our Centre-State driven market poses a critical challenge to the next stage of project development unclear cross subsidy surcharge regimes, uneasy inter-state export of electricity and often long timelines to obtain NOCs form the CEIG/Escom stem the growth of distributed solar PV. Further, without net metering

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Access to the local markets supported upstream by the aggregation by larger players will enable smaller developers to provide regional channels for portfolio owners. Innovative financing models can be grown quicker by entrepreneurial outfits. These can include finance lease, operating lease, construction finance for smaller EPC

RAPID TECHNOLOGICAL ADVANCEMENT IN TERMS OF SOLAR PANELS WITH HIGHER EFFICIENCY AND LOWER DEGRADATION, COMMERCIALLY AVAILABLE MONOCRYSTALLINE PANELS, INVERTERS AND BOS SUPPORTING LOWER ENERGY LOSSES, AND ENERGY STORAGE WILL ALSO POSE THE RISK OF REDUNDANCY DURING THE LIFETIME OF THE TODAY’S PLANT.

THIS TENURE RISK IS AN INCREASINGLY VIABLE EVENT ESPECIALLY IF WE WERE TO SUCCEED IN (OR COME CLOSE TO) OUR RENEWABLE TARGETS WHERE THERE WOULD BE A DUMPING OF LOWERLCOE DENOMINATED RENEWABLE ENERGIES IN TO THE GRID.

providers, unsecured project lending to smaller asset book developers – business models which can be cultivated and

Solar SolarQuarter Quarter• August • August2018 2018 1818

EQ Magazine2.pdf 1 06/08/2018 10:56:30

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Solar Quarter โ ข August 2018 19

In Conversation “NIMMA IS ACTIVELY PURSUING WITH MINISTRY OF NEW & RENEWABLE ENERGY FOR THE RESOLUTION OF CHALLENGES FACED BY THE DOMESTIC MODULE MANUFACTURERS” India has installed around 10 GW of solar power plants in

& Safeguard Duty is making the things complicated. In fact

year 2017, it is expected to add another 8 GW in year 2018.

the domestic module manufacturers are facing tough and

The present domestic module manufacturing capacity is MR. MANISH GUPTA President NIMMA (North India Module Manufacturer Association)

approx 9 GW which is sufficient to cater to the existing demand. But due to non availability of right policies and incentives to the domestic manufacturing capacity will not run on full swing. Maximum capacity utilisation is within small projects, rooftop, government domestic tender and off grid module applications where as more than 80% of solar module import by large EPC company and projects. If

NIMMA (North India Module Manufacturer Association) is a non- profit organization set up under the Societies Registration Act, 1860.NIMMA is an umbrella association for solar module manufacturers. The members of the Association are covered under the Micro, Small & Medium Enterprises Act. The Association has been assisting the members in promoting, developing and improving the product as per the quality standards prescribed by the Government of India. NIMMA is actively pursuing with Ministry of New & Renewable Energy for the resolution of challenges faced by the domestic module manufacturers. NIMMA in fact is working as a bridge between the manufacturers and the Ministry. NIMMA is also assisting its members in sourcing of quality raw materials at competitive prices.

vertically integrated manufacturing base form silicon to modules. Long term industry friendly policies with proper timely implementation will further ensure the stability in supply chain and prices.

than we can also compete with international market for price & quality

Presently the domestic manufacturers are not getting

AS THE SOLAR SECTOR IN INDIA IS GROWING, WHAT DO YOU THINK WILL BE THE PROJECTED DEMAND OF MODULES IN THIS FISCAL YEAR? The demand forecasted for this year is approx 8-10 GW. Rooftop demand is also increasing in this year. State & Central Government also releasing many tenders on

support from the Government. There are no preferential loans available from the Government for plant & machinery and working capital. There is hardly any initiative for sharing R& D benefits with the manufacturers. Government has only one lab for the quality testing of modules. Where as other private labs charge very huge amount for module testing. Government also removing the condition of solar

this year. Solar pump, street lights, off grid applications,

module sourcing from Tier-1 suppliers which has nothing

domestic & commercial rooftop applications can boom in

to do performance of modules, instead of putting Tier-

solar market.

1 condition a performance related condition i.e. module

DO YOU THINK THERE IS NEED OF PRICE STABILITY FOR MODULES IN THIS SECTOR AND HOW IT CAN BE ACHIEVED? There is definitely a need for price stability for modules. Solar Cell which is a major raw material for modules is primarily sourced from China & Taiwan. Any policy

CAN INDIA MEET THE GROWING DEMAND WITH DOMESTIC MANUFACTURING?

The price stability can be achieved by developing robust

DO YOU THINK THERE IS NEED OF PRICE STABILITY FOR MODULES IN

government policies will support domestic manufacturing

HOW IS NORTH INDIA MODULE MANUFACTURERS ASSOCIATION (NIMMA) CONTRIBUTING TO DEVELOPMENT OF INDIAN MODULE MANUFACTURING INDUSTRY?

unhealthy competition from the cheap imported modules.

changes in China government affect the cell prices, further

must be BIS Certified should be applicable. These are some of the initiatives we suggest to the Government to include in policies.

ANYTHING ELSE YOU WOULD LIKE TO ADD FOR OUR READERS. India has abundance of sunshine and waste land for meeting its power demand through solar.

the Dollar – Rupee fluctuation is adding to the woes. In

With right and long term policies and incentives it can be a

addition the uncertainty on the part of Anti Dumping Duty

world leader in Solar Energy.

“NEEDLESS TO SAY OUR PRODUCTS CONFORM TO GLOBAL STANDARDS AND ARE PROVEN TO WITHSTAND THE VARIED CLIMATIC CONDITION OF THE INDIAN MARKET” have presence in West Bengal, Delhi, Rajasthan, Madhya

than 20 to 25 years. Accordingly, we strategically formed

Pradesh, Uttar Pradesh, Gujarat, Andhra Pradesh, Kerala,

“Triple Cooperation” where International Coil Limited,

Punjab, Chhattisgarh, Tamil Nadu, Maharashtra, Karnataka

Websol Energy System Ltd. and Adhyan Projects Private

and Jammu & Kashmir in the past few months.

Ltd. operating jointly to cater solar power requirements in the industry. These 3 companies are leaders in their

MR. MUKESH SHARMA Director

We are going to introduce Integrated Solar home kit

Adhyan Projects Pvt. Ltd.

that offer a melange of both On-grid and Off-grid power

(APPL)

kits are equipped with latest Solar PV Technology Websol mechanism and have already generated quite an interest in the domestic market.

Adhyan Projects Pvt. Ltd. (APPL) is a manufacturer of Solar Mounting Structure and supplier of Solar PV Modules and Solar Water Heating system and is a proud leader in its regional market of Delhi NCR. Our primary focus is to produce quality Solar Mounting Structure product whether it is for Solar PV or Solar Water Heating. Needless to say our products conform to global standards and are proven to withstand the varied climatic condition of the Indian market. Our EPC vertical has completed numerous Ground mounted and rooftop projects in India. We

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trouble free solution.

solution, in upcoming REI Expo 2018. These solar home modules, Lithium Ion batteries and MPPT charging

LET’S BEGIN WITH A GLIMPSE OF YOUR COMPANY’S PRESENCE AND OFFERINGS IN INDIA?

respective fields and accordingly customers get lifelong

WHAT HAVE BEEN SOME OF THE RECENT DEVELOPMENTS AT YOUR ORGANISATION? It was observed in the Industry that buyers do not easily get complete solution from a single window for the entire solar plant and accordingly, single point quality and reliably issue in the market is largely starved. As panel companies are promoting panels only, inverter companies promoting Inverters and so on, whereas end customers, specially house hold are not wanting components, yet complete solution as the solar plant should work more

WHAT HAVE BEEN THE LATEST TRENDS IN DEMAND FOR YOUR PRODUCTS & SERVICES IN INDIA? WHERE DO YOU SEE THE NEXT DEMAND GROWTH COMING FROM? APPL is a Solar Structure manufacturing and EPC (Engineering, Procurement & Construction) company headquartered in Delhi NCR. We also have offices in NCR, in West Bengal, Delhi, Rajasthan, Madhya Pradesh, Uttar Pradesh, Gujarat, Andhra Pradesh, Kerala, Punjab, Chhattisgarh, Tamil Nadu, Maharashtra, Karnataka and Jammu & Kashmir in the past few months. Thus, effectively we have our presence in Sixteen states where we have done majority of our ground mounted and rooftop solar projects, though we can execute the solar projects pan India through our “Triple Cooperation”.

Solar Solar Quarter Quarter •• August August 2018 2018 20 20

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Solar Quarter â&#x20AC;¢ August 2018 21

Industry Insights INNOVATION AND MUTUAL BENEFIT — SMART PV LEADS THE FUTURE Back into 2015, the Joint Innovation Center was unveiled by Huanaghe Hydropower and Huawei. Since the establishment of the joint innovation center, the two companies have been fully applying their advantages in the industry, scientific research, platform, and talent. The two parties have been collaborating and making innovations. They have made significant breakthrough in smart string inverters, wireless communication, smart I-V curve diagnosis, smart EL diagnosis, and integration of inverters, bifacial modules, and solar trackers, as well as the intelligent PV plant management. The breakthrough have brought valuable technologies and solutions in the PV industry, and consolidated the leading positions of Huanghe Hydropower and Huawei across the world. The evaluation, verification, and optimization instruction of the 100 MW practice base have greatly promoted the sustainable and healthy development of the PV industry, and largely contributed to the technological advancement and the development of the entire industry. Sam Wilkinson, chief analyst at IHS, shared his vision on the

100 MW practice base in Gonghe

global PV evolving trend: Thanks to Huawei’s contribution and breakthrough in string inverters, the global market share of string inverters exceeded that of central inverters in 2017, turning into the industry’s first choice. In the past three years, Huawei has topped the global inverter shipment volume in the industry. The high energy yield, simple O&M and design, and precise fault location are the main factors for the rapid growth of string inverters in large-scale ground PV plants. Pang Xiulan, chief expert of the Huanghe Hydropower Development Co., Ltd., demonstrated the achievements of the smart PV joint innovation and reviewed the continuous development and innovations made together by the two companies. The demonstration includes: the application of smart I-V curve diagnosis in the 100 MW practice base and PV project in Golmud; 4G wireless technology used in PV plants, which is the first time in the industry. According to the test data of the 100 MW practice base, the energy yield of the smart string inverter solution is 2% higher than that of the conventional solution, while the fault rate of the former is the lowest. Tony Xu, president of Huawei Smart PV business, said, “Huawei has bonded with Huanghe Hydropower as early as 2012 when our products were still under research and development. It has become a national strategy that the two companies lead the industry development through joint innovation and spread the smart PV transformation

Fully intelligent integration: solar tracker + bifacial module + smart inverter

Hydropower and Huawei have actively carried out research and practice on the cutting-edge PV technologies in the digital era. Acting as role models, they are honored as the “PV technology vane” by providing forward-looking and strategic technological support for the intelligent development of the PV industry. They have indeed become the backbone of promoting China’s PV industry towards

The deepening integration of the physical and digital

Huawei is dedicated to cultivating sustainable ecosystems

world assisted by new innovation technologies 5G, IoT,

and achieving mutual benefits by collaborating with

cloud computing and AI, is ushering in an intelligent world.

ecosystem participants. After eight years of sharpening and

Solar PV is also accelerating its digital transformation to

thinking, Huawei smart PV integrates digital technologies,

improve efficiency, optimize customer experience and

Internet technologies, and customer requirements to help

develop innovative business models. Huawei welcome

them achieve business success by providing the best

the opportunity to exchange ideas and work together, to

products and solutions.”

further develop this digitalized Smart PV Ecosystem with

Earlier this year, Huawei launched the optimal LCOE

partners in India.

solution — smart PV digital power system, based on the

Huawei FusionSolar Smart PV Solution is continually

practical experience and study on the practice test data

creating value for clients. With over 75GW shipped

of the Golmud phase VI 100 MW PV plant. The system is

worldwide and over 2GW installed in India, Huawei was

and smart inverters with the smart chip and AI algorithm, enabling customers to take the lead the intelligent era. When it comes to PV technologies, China is rising to the top around the world, Qinghai province is taking the lead in the country, and Huanghe Hydropower is driving in the front seat in the province. Smart PV technologies are spreading from the Yellow River to the world. In 2017, the global market share of string inverters exceeded that of central inverters, and the smart PV market share increased rapidly. Relying on the joint innovation center, Huanghe

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SMART PV SOLUTION IS CONTINUALLY CREATING

the high-end global value chain.

from the Yellow River to the world. Staying customer centric,

an integration of bifacial modules, smart solar trackers,

HUAWEI FUSIONSOLAR

VALUE FOR CLIENTS. WITH OVER 75 GW SHIPPED WORLDWIDE AND OVER 2GW INSTALLED IN INDIA,

ranked No.1 in global inverter shipments 2015 - 2017 by IHS Markit.

HUAWEI WAS RANKED NO.1 IN GLOBAL INVERTER

At Renewable Energy India Exhibition, Huawei will exhibit its innovative new FusionSolar Smart PV products and

SHIPMENTS 2015 - 2017 BY

solutions, focusing this year on Utility and Commercial Rooftop

Smart

Solution.

Huawei’s

FusionSolar

represents not only new technologies and platforms

IHS MARKIT.

but also an open ecosystem, making it a cornerstone of digitalization for PV industry. Looking forward to seeing you at Huawei booth 3.61.

Article: Huawei Solar Quarter • August 2018 22

MAKE IN INDIA

SOLAR

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Solar Quarter • August 2018 23

Industry Insights THE FUTURE OF RENEWABLE ENERGY IN INDIA

From the introduction of fossil fuels all around the world, we

power capacity in India. This is just a beginning to adopt

like – cleaning the air, carbon emissions to use renewable

were entirely dependent on these non-renewable energy

environment-friendly energy.

energy more efficiently leading to a sustainable future.

sources. In every field whether manufacturing, automobiles

India holds a fourth largest producer of wind power

From the last two and a half decades, a number of activities

Inc., transportation facility, service Inc., agriculture sector and so on need some kind of energy to run the business. But the excessive use of fossil fuels for hundreds of years without realizing its effect on the environment results in regular deterioration to our atmosphere and health. The major effect from this non-renewable energy was a greenhouse effect where harmful gases trap heat from the sun in the earth’s atmosphere, causing the temperature to rise which effects in global warming. It is a serious issue all around the world which is visible in climate change, earthquake, tornadoes, landsliding, flood, avalanche etc. in recent years. It is a high time now to totally focus on renewable energy for the better future. Renewable energy is generated from natural processes that are continuously stock up including sunlight, geothermal heat, wind, tides, water, and various forms of biomass. This energy cannot be exhausted and is constantly renewed. It can be used as a substitute for fossil fuels which have a low environmental impact. Though we use some form of renewable energy from ancient times, according to today’s environment need is to have an extensive plan to adopt renewable energy. Although we cannot totally replace fossil fuel but can upgrade our technology from the transition to non renewable to renewable and environment-friendly energy. India has a very high rate of economic growth. It is known that energy and economic development has a cause and effect relationship. Therefore, energy generation has to be increased in order to meet the economic development demand. About 78% of domestic coal production is dedicated to power production. On the heavy investment that India is undertaking on renewable energy production, will increase energy produced hence a sustainable development in India. Renewable energy is an energy which is collected from a renewable resource. It is being naturally replenished by our humans every day. Some examples of renewable energy are sunlight, wind, rain, waves and geothermal energy.

in the world. Government is looking forward to using these resources to lesser carbon footprints in India. It is

renewable energy technologies for use in different sectors.

renewable capacity expansion programs in the world.

Using coal to generate power should be controlled and

India consumes 3.6% to 3.7% of the world’s commercial

ended soon if it is possible. Hydropower is doing fine

energy making it ranked 4th most energy consumer globally after the United State, China and Russia. This huge energy consumption in India is triggered by

India has been blessed since ancient times with appropriate

from resources that are continually replenishing such as

solar energy potential with 300 days of bright sunshine

sunlight, wind, rain, wave tide and geothermal heat. Use of

every year. The time has come to use that immense

renewable energy accounts for up to 33% of India’s primary

energy by harvesting it and reducing carbon emissions,

energy utilization, therefore, it reduces the focus on the

not forgetting that India is the fourth highest emitter of

use of fossil fuels and coal as the source of energy. In India

harmful gases in the world.

current status, India has one of the world largest programs in renewable energy. This sector has been supported by the Ministry of Nonconventional Energy, by putting efforts

SOLAR AND WIND POWER

so that market and consumer drive renewable energy to a large extent. India’s Renewable energy potentials are noted on solar, wind, biomass, small hydropower etc.

CANNOT BE RELIED

These renewable energy sources and technologies have the potential to solve the long-standing energy problems faced by developing countries. It also has encouraged and

UPON, BEING QUITE AS

invested heavily in the renewable energy sector since it acts as a solution to the problem of insufficient energy in the country.

UNPREDICTABLE AS THE

The energy plan for 2030 in India envisages 850 gigawatts of power and renewable energy sources account for 40% of that figure. Will that be achieved? If the dream becomes

WEATHER. HOWEVER,

real, a 35% reduction of greenhouse gas emissions would be feasible. Perhaps it will, with a judicious use of solar and wind power being harnessed through private and

THE CONSTRUCTION OF A

public partnerships along with greater private investment. Consider the examples of European countries like Denmark

GREEN ENERGY CORRIDOR

and Germany, Portugal too, that have demonstrated that much is possible in terms of renewable energy. Costa Rica

to overcome energy shortage in India.

smaller models serve to highlight what is possible on larger scales.

years ago. The first hydropower plant started functioning

HOW TO SAY GOODBYE TO FOSSIL FUELS?

in the 19th century in Darjeeling. Since then many

To meet the energy requirement for such a growing

developments had been done in this area. Now India holds

economy country, In future, India will require an assured

one of the largest productions of energy from renewable

supply of 3-4 times more energy than the total energy

energy in the world. In the recent developments in

consumed today.

renewable energy, the electricity sector is elevated by 20%

Today, renewable energy accounts for about 33% of

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to set up solar power units and sell the energy to the

development. Renewable energy is the energy that comes

are far smaller geographically and in terms of population,

presently add up to more than 33% of the total installed

enormous possibilities. It would be great to hire rooftops national grid as is being done in some countries abroad.

energy, ocean energy and fuel cell technology can be used

of the total installed power. Large-scale hydropower plants

and could be expanded, solar and wind power presenting

rapid economic growth along with an overall speedy

shows such practices too. Agreed that these countries

In India, we are using renewable energy from hundreds of

demonstration, production, and application of a variety of

successively attaining one of the largest and most aspiring

The renewable energy sources like wind energy, solar

RENEWABLE ENERGY IN INDIA

have taken place related to research, development,

WOULD BRING GREAT STABILITY, A PROJECT THAT WOULD COST $3.5 BILLION AND TAKE 5 YEARS TO BUILD.

India’s primary energy consumption. In the current, India is taking several steps and adopting responsible techniques

Turn to page 24 Solar Quarter • August 2018 24

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Solar Quarter â&#x20AC;¢ August 2018 25

Government policies should be encouraging renewable energy production by offering interesting incentives. While

TARGETS TO BE ACHIEVED BY 2022 What do you think now? What could be the future of energy

such encouragements do exist, it is not catching up in a big

in India? By observing the current scenario regarding

way yet, but the future is full of promise.

energy consumption and conservation, future of energy in

RENEWABLE ENERGY SOURCES ARE UNPREDICTABLE

India can be on a critical side. A clean energy future is on

countries making the investment in the renewable energy sector globally. Some new schemes such as floating solar, offshore wind projects, power, and renewable energy will enable the country to overachieve its 175 GW renewable energy generation capacity.

top of every country’s sustainability agenda today, which

Nearly 293 global and domestic companies have

is evidenced by the large-scale expansion of sustainable

committed to generating 266GW of solar, wind, mini-hydel

Now let’s talk about solar energy, which is not well known

power projects worldwide. India is, however, is not that

and biomass-based power in India over the next decade.

in India even though having huge power plants that have

much efficient to put conservation of energy in the top of

The future of energy in India, especially in power sector,

its list? But, India is taking many steps and building huge

has a potential of investing Rs 15 trillion over the next 4-5

power plants for the conservation purpose. It can lead to a

years which is a clear indication of immense opportunities

better future from now if the citizen of our country helps

in power generation, distribution, transmission, and

our government too in conserving the energy.

equipment. Renewable energy storage system market in

come up in various parts of the country. India is really lucky to receive a huge amount of solar light and energy throughout the year. Tapping into it efficiently will help us to solve the energy crisis in many regions of the country. Solar energy is the largest source of energy in comparison to the other sources of renewable energy; the country’s solar energy production is estimated to runs up to 1,000,000 MW. In India, most of its parts have about 300 clear sunny days in a year and receives on an average of 4.7 KWh solar radiations per square meter. According to the MNRE latest updates, solar energy production has crossed the 2GW landmark. The future of solar energy in India is being undertaken, for example, a group known as JNNSM started to establish India as a global leader in solar energy by creating the policy condition for large-scale usage across the country the country as quickly as possible. They planned their mission for three phases. Phase 1 (2012-

Ministry of New and Renewable Energy plans the production of 175 gigawatts of clean power by 2022 and solar energy will make up 100 gigawatts. At present, the solar output stands at 8 gigawatts. Yet, if clean energy is the problem, the finance issue looms large too, and Bloomberg

India is expecting immense growth hence storage cost declines.

HONORING THE PARIS CLIMATE ACCORD

estimates that the cost to fulfill the 2022 targets would add

Non-fossil fuels might contribute to 40% of electricity

up to US$100 billion. However, hope lies with wind energy,

needs by 2030 and that would be a great achievement in

of which India is the fourth largest producer at 27 GW,

terms of renewable energy sources rather than coal-based

optimistically to be increased to 60 GW by 2022.

energy. If that is to happen successfully, you will need 100

We have got off to a good start with nearly 12 GW likely to be installed by 2016, more than three times the current capacity,” said by the Prime Minister Mr. Narendra Modi Ji during the inauguration of India’s pavilion at the on-going Paris climate change conference. In order to achieve the

2103), phase 2 (2013-2017) and the final stage phase 3

proposed capacity of 100 GW target by 2022, the overall

(2017-2022).

investment required would be around Rs.6 lakh crores!!

Solar and wind power cannot be relied upon, being quite

Isn’t it huge?

as unpredictable as the weather. However, the construction

By March 2022, India focuses on more investment of up to

of a green energy corridor would bring great stability, a

50 billion dollars with an aim of an addition of up to 227GW

project that would cost $3.5 billion and take 5 years to

in a capacity of its renewable energy. India renewable energy

build.

target by 2022, it will scale up the country as the top three

GW of solar energy and 60 GW of wind energy. Further, biomass must contribute 10 GW and small hydropower projects need to generate 5 GW. Hopefully, all the constituents would work together successfully to usher in a new age of clean energy. However, not all villages are lighted up by power sources and that would also be confidently achieved for the luminous India of our dreams with 1.3 billion people served by power, clean or otherwise. So, now from the above article, we have understood that renewable energy is the essential part of our human life cycle. If it is used wisely and more efficiently, we did not assure only our future, but also we can give a bright future to our upcoming generation too. Author: Prakash Kumar

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Solar Quarter • August 2018 26

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Industry Insights RENEWABLE ENERGY STARTUP LANDSCAPE IN INDIA According to MNRE, India’s current renewable capacity which comprises of solar, wind, biomass, small hydro etc. has reached a cumulative mark of ~70 GW as of March 2018. The growth has been exponential in the past decade or so, primarily attributable to the pro-active measures and the policy reforms taken up by the Government of India (GoI). On the other hand, a lot of entrepreneurs and startups in this arena have grabbed this enormous business opportunity with both hands, leading to leading to materialization of the vision to switch from Non-renewable energy to renewable sources of energy. All emerging players and entrepreneurs engaged in this space have in a way contributed towards achieving a larger goal set up by the GoI. They are contributing in many ways: � Some of them have been setup with an aim to make energy more affordable and accessible, thus contributing to GoI’s 24*7 Energy For All target � Others have entered into equipment manufacturing (solar modules, wafers etc), contributing to GoI’s Make In India campaign � Few of them have progressed towards setting up of large utility scale plants, thus contributing to the GoI’s capacity target by 2022 � Some have ventured into providing financing options, in turn making energy more affordable.

RE STARTUPS IN INDIA – TOP 10 DEALS SINCE 2010 RANK

COMPANY

ROUND TYPE

AMOUNT (USD MN)

Private Equity – IV

265

Private Equity

230

Though this list could be inexhaustive, the important thing to note is that there seems to be a naturally cohesive

ReNew Power Ventures

Ostro Energy

ReNew Power Ventures

Corporate Minority

200

SITAC RE

Corporate Minority

169

Welspun Renewables Energy

Unattributed – II

165

Amplus Energy Solutions

Private Equity

150

ReNew Power Ventures

Private Equity – III

140

ReNew Power Ventures

Private Equity – II

135

Hero Future Energies

Unattributed

125

Green Infra

Private Equity

125

attempt being made for realizing India’s commitment towards climate change. The support to these budding entrepreneurs has also been phenomenal as funds have flown from all corners of the globe, be it large pension funds, private equity funds, institutional investors or environment focused ventures who have been divesting from conventional fossil fuel investments to clean energy investments. Some startups in India have even closed multiple successive rounds since their inception. The clean energy space has a lot to offer in terms of the entrepreneurial opportunities to the rural youth of the country, especially considering that RE application is just taking off in agriculture, the segment which employs more than half of the country’s population. This would lead to multiple benefits, thus reducing the fiscal pressure on the Government towards subsidized power, which in turn would also make RE more viable for segments other than agriculture, primarily the commercial and industrial

“India offers a nourishing start-up ecosystem in the RE space, with several academic institutions providing the requisite

segment.

incubatory support”.

Considering most startups work on an asset light model, it is important to emphasize that RE is a capital intensive affair and require large amounts of fixed capital to actualize

THE GROWTH HAS BEEN EXPONENTIAL IN THE PAST DECADE OR

conversion of new laboratory proto types to mainstream market products. Many entrepreneurs in this field face obstacles with respect to availability of resources, and that is where the incubation support really counts. Incubators nurture these early-age ventures to provide them with the requisite support in terms of laboratory/ office space, provide them a nexus with potential customers & investors,

SO, PRIMARILY ATTRIBUTABLE TO THE PRO-ACTIVE MEASURES AND THE POLICY REFORMS TAKEN UP BY THE GOVERNMENT OF INDIA (GOI). ON THE OTHER HAND, A LOT OF ENTREPRENEURS

and work collectively to develop their business ideas and models.

AND STARTUPS IN THIS ARENA HAVE GRABBED THIS ENORMOUS

India offers a nourishing start-up ecosystem in the RE space, with several academic institutions providing the requisite incubatory support. The Indian Government, through its various departments including the Department of Science and Technology (DST), the National Science and Technology Entrepreneurship Development Board (NSTEDB) and the Ministry of Small and Medium Enterprises

BUSINESS OPPORTUNITY WITH BOTH HANDS, LEADING TO LEADING TO MATERIALIZATION OF THE VISION TO SWITCH FROM NONRENEWABLE ENERGY TO RENEWABLE SOURCES OF ENERGY.

(MSME), offers the required startup capital in some form to these dedicated sectoral entrepreneurs.

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Credits Yes Bank

Solar Quarter • August 2018 28

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Solar Quarter â&#x20AC;¢ August 2018 29

Industry Insights LITTLE RAYS OF SUNSHINE An Electrical grid consists of hundreds of electricity generating units with Thousands of Megawatts of generating capacity connected to transmission lines spanning thousands of kilometers across the country. However, today’s grid is over a century old and is actually a patchwork of networks that has evolved over the years. Maintaining and controlling the grid is a delicate balancing act, there is constant danger of disruption as load and generation varies. India is rapidly installing Gigawatts of wind and solar energy, a power source that fluctuates with the weather, available only for about 5 to 6 hours a day. This imbalanced generation will put an enormous stress on the grid and generation systems connected to it. A recipe for failure. Electrical power sources like thermal power stations coal, oil and nuclear provide base loads, while sources like hydro, gas turbines are used for peaking loads. Thermal plants in the country are running at low loads, steam bypass and at lower efficiencies resulting in a huge loss to the utilities and the environment. Several new and old coal based thermal plants are facing closure. Investment in this sector has dried up. Thermal and Hydro power plants provide Energy Security to the nation and have to be sustained and run at rated load to survive and at the same time be profitable. Policy makers need to see the Bigger Picture. to consumption. This will encourage users to plan usage

2. Each community should be encouraged to invest in

during low rates periods. This will also help in balancing

wind /solar power generation. One simple incentive

the supply and generation leading to a reduction of peak

is to return the full GST paid for the plant after

forward, however AI and machine learning require real

demand and in turn help lower electricity rates.

verification of installation and compliance to norms

world big data to work and learn.

All these micro grids of nearby communities are

laid down. Banks should lend at low interest rates.

Smart Grid is a new kind of electric grid, one that is built

interconnected and connected to the main grid providing

This is the most transparent form of incentive. Today

base load. Automatic isolation circuits to safeguard the

a 10 kW plant would cost around Rs. 4 - 5 Lakhs and

critical equipment depending on it. We need to automate

local grid from outages.

a purchase price of Rs.5 to 6 per kWh is reasonable.

and manage the increasing complexity and needs of

Control systems will ensure that the voltages and

Any other form of subsidy leads to corruption and

electricity in the 21st Century sooner than ever.

frequencies are monitored and maintained.

escalation of price.

Grids have to work with digital technology that allows

This type of distributed generation will be very efficient, low

for two-way communication between the utility and its

transmission losses, quicker restoration of electricity after

customers.

power disturbances, reduced operations and management

Power Line Carrier Communication (PLCC) is the best

costs for utilities, and ultimately lower power costs for

What we need today is a smart way of managing of various sources of electricity generation. Grids controlled with artificial Intelligence and machine learning is the way

from the bottom up to handle the increasing number

method to transmit data on the power lines at minimal

consumers. Giving control to consumers.

extra cost. You could even have smart switches connected

Each micro gird will also have an energy storage system to

to various loads working on this network and ability to

provide for emergencies or peaking loads.

control them with your smart phone.

Flow batteries are best suited for this purpose as they have

3. Install Digital meters with a data port for PLCC to transmit data on the power line. 4. Develop and Encourage flow battery technology in India to make it affordable, reliable and suitable for Indian environment. 5. Design and develop Power Line Communication devices and establish a communication protocol and standard.

Data from digital meters and control devices can transmit

higher storage densities. Flow batteries are safer and eco-

data on the electrical network and similar to the Internet, the

friendly in comparison to lead, lithium or other battery

Smart Grid will consist of controls, computers, automation,

technologies. Each micro grid can plan to store about 10%

and new technologies and equipment working together,

of its energy needs. These storage systems can also be

but in this case, these technologies will work with the

used to store energy from the main grid during non-peak

electrical grid to respond digitally to our quickly changing

hours. This storage sub-system is part of the active grid

electric demand.

and are put into active use to balance the load in the grid

The new grid will be an interconnected hive of micro grids,

as required.

in other words each locality of say 500 to 1000 consumers

By combining these “distributed generation” resources,

will be part of a community micro grid.

a community could keep its essential services operating

9. Encourage consumers to use energy when supply

The community will also have solar & wind energy installed

during emergencies. In addition, the Smart Grid is a way

is more than demand, this will balance the load and

to address an aging energy infrastructure that needs to be

generation, the grid will be balanced and clean.

on roof tops, common areas, parking lots and similar places. Little Rays of Sunshine and Wind blowing in your

upgraded or replaced.

locality can be harnessed to power the local micro grid.

In fact, if you missed the point, the entire country will have

Even a single 250 Watt PV module with a grid tie micro

a stored energy security from all these interconnected

inverter is encouraged. Each consumer and power source

micro grids. Individual communities can continue to have

has a PLCC connected to digital energy meter that sends

power when they are isolated for some reason from the

consumption and generation data to a local switch that is

main grid.

in turn connected to the internet and data stored in central servers. This big data of consumption patterns will help main generation stations to quickly change to the dynamic requirements. This data can help the consumer in online monitoring the consumption and the generation on a Mobile App. Variable tariffs during the day and night can be applied

Escoms and the society stand to gain a lot from this, variable tariff, automatic billing, reduced transmission loss and pilferage, reduced outages and localized generation. The entire eco system can be put in place by escoms in partnership with the community and can follow a PPP model for energy storage and generation. 1. Community grids should be created by modifying and configuring existing networks.

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6. Install data nodes to capture energy data from consumers and transmit it to internet based servers. 7. Each consumer will be connected to the server and usage data made online for view and monitor on a mobile app. 8. Institute a dynamic real time tariff based on demand and supply parameters

10. The government and Escoms have to take a lead in implementing smart grids of tomorrow. The community will happily contribute partly to this endeavor.

CONCEPT OF COMMUNITY GRID AND ELEMENTS In conclusion, making a smart grid is not very complex as most people would be led to believe. What we need to avoid is gold plated technology being pushed by vested interests. Keep It Simple, Stupid is the way forward. Simple technology that works. Author: Mr. Sanjay Godbole, BHEL

Solar Quarter • August 2018 30

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Tech Insights WE OPTIMIZE, YOU CAPITALIZE! One of the first large solar PV plant in India was powered

Here is a sneak peek into the SMA solutions you will see on

by SMA central inverters in 1996. Ever since, SMA has been

our booth at REI.

strongly committed to the Indian PV market and opened its designated sales and service subsidiary in India in 2010 offering products and solutions for centralized and decentralized PV power plants as well as for commercial PV applications. With inverter sales in India exceeding 3.5 GW, SMA’s full range of solar inverters with highest standard of quality and reliability helps it maintain a leading position in the Indian solar market. SMA is contributing to India’s rising energy demand for a rapidly growing economy by offering the industry’s the most optimized energy management solutions. As a leading global specialist in photovoltaic system technology, SMA is setting the standards today for the decentralized, digital and renewable energy supply of tomorrow. More than 3,000 SMA employees in 20 countries, including 500 working in R&D, have devoted themselves to this task. In collaboration with our partners and customers, we are helping people transition to a selfsufficient, decentralized and renewable energy supply.

SUNNY CENTRAL UP: GLOBAL PRODUCT LAUNCH MORE POWER PER CUBIC METER With SUNNY CENTRAL UP, SMA will be launching a new series of 1500V central inverters at Renewable energy Expo 2018. REI visitors will be privileged to see the new SUNNY CENTRAL UP prior to any other market in the world. With an output of up to 4600 kVA and system voltages of 1500 V DC, the SMA SUNNY CNETRAL UP inverter brings a power output jump of >50%, allows for more efficient system design and reduction in specific costs for PV power plants. A separate voltage supply and additional space are available for the installation of customer equipment. True 1500 V technology and the intelligent cooling system

SUNNY HIGHPOWER PEAK3

OptiCool® ensure smooth operation even in extreme ambient temperatures as well as a long service life of 25 years. This DC coupling ready inverter enables the PV plus storage application coupled in a single inverter which will take the PV sector beyond grid parity and towards the future of a distributed energy world.

Our innovative and optimized solutions for every type of photovoltaic application offer people and companies worldwide greater independence in meeting their energy needs in the most efficient way. SMA clearly understands that the different PV applications have different system requirements and hence the system design needs to be optimized according to the application. The rooftop installations for residential and smaller commercial applications require more design flexibility due to space constraints. Hence the inverters like single-phase Sunny Boy series and three-phase Sunny Tripower series catering to these market segments offer features such as multiple MPPT and OptiTrack Global Peak. For large commercial rooftop applications with very high inductive loads, reactive power support from the PV system becomes necessary. To meet this requirement, our higher capacity string inverters are designed to provide full reactive power support with power factor ranging from 0 leading to 0 lagging. These inverters also help in providing required grid support when installed in small or island grids with higher PV penetrations. Large scale utility power plants are facing other challenges. Generally, these large installations are located in remote areas with limited infrastructure; our true outdoor rated inverters bring down the installation cost and time for the inverters. OptiCool®, the intelligent air cooling system, ensures the smooth operation of the inverter in the harsh environmental conditions and the long service life of 25 years. Features like GFDI plus

SUNNY HIGHPOWER PEAK3 A

SUPERIOR

MODULAR

SOLUTION

FOR

UTILITY

POWER PLANTS The new Sunny Highpower PEAK3 is SMA’s latest addition to a comprehensive portfolio of utility solutions. This 1,500 VDC string inverter offers high power density in a modular architecture that achieves a cost-optimized solution for utility-scale PV integrators in large-scale PV plants with decentralized architecture. With fast, simple installation and commissioning, the Sunny Highpower PEAK3 is accelerating the path to sustainable and cost-efficient energy supply. SMA has also brought its field-proven Smart Connected service to the PEAK3, which simplifies O&M and contributes to lower lifetime service costs. The PEAK3 utility system solution is powered by the ennexOS, crosssector energy management platform, which is winner of the Intersolar Europe 2018 smarter E AWARD. PEAK3 stands for pure power. With its compact design, the inverter offers the highest power density per device. The advantage is optimal performance at a light weight, which results in cost-effective transportation and easier installation. In combination with the project-specific DC Combiner Boxes, the PV array can be oversized up to 150 %. The ennexOS Data Manager completes the system and enables it to fulfil all of the grid operator’s requirements.

SOLID-Q 50

reduce the down time of the plant. SMA’s grid-connected storage systems enable the integration of large amounts of intermittent renewable energy into the utility grid while ensuring maximum grid stability. They are designed to compensate fluctuations in solar energy generation and offers comprehensive grid management services, e.g., automatic frequency control. This year at Renewable Energy India Expo in Greater Noida,

The SMA Group with sales of around €900 million in 2017 is a global leader for solar inverters, a key component of all PV plants. SMA offers a wide range of products and solutions that allow for high energy yields for residential and commercial PV systems and large-scale PV power plants. To increase PV selfeasily be combined with different battery technologies. Intelligent energy management and digital energy

cleared with the help of motorized circuit breaker on the DC side. Such features help O&M activities on site and to

About SMA Group:

consumption efficiently, SMA system technology can

Isolation monitoring option make it possible for inverters to restart automatically after temporary ground fault gets

SOLID-Q 50

THE IDEAL CHOICE FOR COMMERCIAL ROOFTOP AND

solutions, comprehensive services and operational

GROUND MOUNTED SOLAR PLANTS

management of PV power plants round off SMA’s

The SMA SOLID-Q series offer you unmatched performance to price ratio. You will benefit from SMA reliability. 3 MPPTs with 10 inputs offer high design flexibility in applications ranging from large rooftops to mountainous regions or shaded installations. The inverters are designed and tested to return high yield also under adverse environmental conditions.

range. The company is headquartered in Niestetal, near Kassel, Germany. SMA’s multi-award-winning technology is protected by more than 1,100 patents and utility models. Since 2008, the Group’s parent company, SMA Solar Technology AG, has been listed on the Prime Standard of the Frankfurt Stock Exchange (S92) and is currently the only company in the solar industry that is listed in the TecDAX index.

visitors will have the opportunity to witness the latest best in-class inverters with one of the highest return-

You can find out all about the new SMA solutions first-

on-investment in the industry at the SMA Booth (Booth

hand at Renewable Energy India Expo in Greater Noida,

number 73, Hall 3) from September 18-20, 2018.

Booth number 73, Hall 3.

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Solar Quarter • August 2018 32

We Optimize, You Capitalize!

OPTIMIZE

Capex & Opex Performance & Availability Complete Plant Solutions

SMA invites you to REI 2018 Visit us on Booth 3.73 - Hall 3 from 18th to 20th September 2018 at India Expo Centre, Greater Noida. Stay tuned!

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SMA-India.com +91 22 6171 3800 Solar Quarter â&#x20AC;¢ August 2018 33

Featured Perspective “SELECTING THE RIGHT INVERTERS FOR ROOFTOP SOLAR PROJECTS IN INDIA, WHAT WOULD BE THE IMPORTANT ASPECTS FOR CHOOSING RIGHT INVERTERS FOR ROOFTOP SOLAR PROJECTS?”

MR. BHARAT BHUT

MR. JASON YAN SAJ INDIA SALES DIRECTOR

DIRECTOR

SAJ ELECTRIC

GOLDI SOLAR PVT LTD

Solar inverter is a key part for the whole rooftop solar system. So it is important to choose good quality products. Secuity,reliable,high efficiency and intelligent is the main features and built-in monitering system is necessary for EPC and end uers to check the system performance remoted.Of course, fast after sale response from the inverter side is most significant. As there will be money lost if the product do not work. SAJ dedicates in rooftop solar inverter manufacturing over 7 years with total 5GW installations all over the world. As China TOP 3 residential solar inverter brand and World TOP 10 single phase solar inverter brand by IHS, SAJ hopes to be optimal choice for India rooftop market with good performance and local teamwork.

Roof top solar plants is the growing demand in India. Selection of an inverter is as important as selecting Solar PV Modules. Rating of Inverters should be decided accurately considering the plant input from the Solar PV modules. Inverters should have inbuilt protection both for AC and DC and the enclosure should be having IP 65 degree of protection. Inverters should be as per CEA guidelines and should be able to control harmonics and flickers in addition to suitable voltage and frequency range. Present demand is for Inverters having capability to monitor the plant performance automatically and shall be compatible for remote monitoring. Optimised global MPPT algorithm and having MPPT efficiency should be higher than 99.5%. Good quality of Inverters will have reduced de-rating under high temperature and better generating capacity. Modern practice is to provide aluminium case design to enhance heat dissipation and prevent rust corrosion There shall be a direct current isolation provided at the output by means of a suitable isolating transformer. If Isolation Transformer is not incorporated with Inverter, there shall be a separate Isolation Transformer of suitable rating provided at the output side of PCU/PCU units for capacity of more than 100 kW.

MR. AMBARISH BANGUR DIRECTOR HR SOLAR SOLUTION PRIVATE LIMITED

MR. SHUBHAANG GUPTA DIRECTOR

Inverters are essential components of PV systems which convert DC electricity

SOLAR UNIVERSE INDIA

produced by solar panels to AC electricity. They come in various types central, string and micro inverters. Mainly string inverters are used for rooftop projects in India. For Indian rooftop project, solar grid tied inverter should comply to all the criteria as laid down by MNRE (Ministry of New and Renewable Energy) as well as by the local DISCOM (Distribution Companies), where inverter needs to be connected. The specification set down by MNRE covers all the essential aspects required for selecting the right inverter. Some of the important features, which should be considered, are: • Inverter Sizing according to the system required (Input & Output Power). • Overall efficiency of solar plant and inverter. • Inverter shall be capable of complete automatic operation including wake-up, synchronization & shutdown. Minimum consumption of power in standby/sleep mode must be checked. • Wide range & number of MPPT (Maximum Power Point Tracker) and efficiency of MPPT. • Built-in meter and data logger (with data storage) to monitor plant performance locally as well web monitoring facility with mobile app. • Anti-islanding Function • IP 65 for outdoor & IP 54 for Indoor installation. • In built surge protection, earth/ground fault protection, high voltage & short circuit protection, DC switches etc. • After Sales Service & Warranties provided by the inverter manufacturer. We have been using ‘SAJ brand’ grid tied inverter and pump controller for the last 3

Inverters are rightly called the heart of any solar system hence it is quintessential to choose the right inverter as per the solar system size, location, grid variables and weather conditions. For our projects in J&K, where grid voltage hovers in the range of 100-160V during peak winters, we have used SAJ Inverters for all project sizes of 2kW to 50kW due to the low voltage & synchronization protection offered by them. SAJ Inverters also have inbuilt remote monitoring facility via WiFi & other mediums which makes it easy to track & monitor all our projects under one window. Service support & round the clock troubleshooting is another very important aspect to be considered which is why our engineers & ground support team was trained by SAJ before our projects were commissioned. Other factors considered by our design team include; 1. MPPT number (minimum 2) and range

– 4 years with our HR Solar modules and are satisfied with the performance. As “SAJ”

2. Startup & switch off time during grid failure

has a wide range of quality solar products, we will hope more installation in coming

3. Synchronization power should be high to counter frequent voltage fluctuations

years.

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Solar Quarter • August 2018 34

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India Expo Centre

18-20 Sep. REI 2018 Huawei Booth: 3.61

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Featured Perspective “STRING INVERTERS ARE MAKING INROADS INTO THE INDIAN SOLAR MARKET, WHAT WOULD BE THE DEFINING ASPECTS FOR CHOOSING GOOD STRING INVERTERS FOR ROOFTOP SOLAR PROJECTS?”

MR.BRIJESH PRAJAPATI

MR. DARSHAN PANDYA

MANAGING DIRECTOR- INDIA

DIRECTOR- BUSINESS DEVELOPMENT

SOFAR SOLAR

SOFAR SOLAR (Est.2012) Is one of the subsidries of SOFAR Group in china which is No.1 in the GPS Industry. SOFAR SOLAR with around 400 employees is equipped with very strong R&D Team and the major R&D Personnel have more than 10 years experience in the PV Industry. Our Team Specialist in R&D, Production ,sales & service of Grid Tied Inverters Ranging from 1kw to 7.5kw (Residential),10kw to 70kw(Commercial) ,Hybrid Inverters ,Storage inverters and other related Renewable products. Around 400 employees in factory increased our production capacity to 4GW annually. From day one our company has put quality as the most important criteria in our design, production and daily operations. Our international R&D team designed the product from bottom up. We hand-picked each component and we have drew every bit of the circuitry. Therefore we understand exactly how the device shall perform in every situation. We sourced all our electronic materials from U.S., Germany and Japan, such as Fairchild, Infineon, Texas instruments, Panasonic, Nichicon, Tamura, Microsemi, Amphenol, Sanyo. We are certainly not the cheapest inverters you can find in China. But if you consider quality is important, you will not regret to work with us. SOFAR SOLAR Inverters have been installed in 40+Countries. To cater to the Indian Market we have established our Sales and Service Centre in Ahmedabad,GujaratINDIA. We also plan to set offices and warehouses in Different region. We are excited to bring our range of inverters to Indian homes and businesses. *Only SOFAR SOLAR Providing 7years product warranty in INDIAN Market.

AUSTRALIAN PREMIUM SOLAR

In today’s open market choosing a good string inverter is always going to be tricky as this decision is affected by a number of aspects such as post-sales service, price, warranty, safety measures, monitoring options and performance. We can see a number of companies making string inverters nowadays, because of which the price and quality range we can get from the market is vast. However, in this situation we are glad that we have come across the inverters by Sofar Solar. It is one of the very few inverter which falls in the mid-range in terms of price, but the performance and durability is almost at par. The additional benefit we get is the manufacturer’s warranty of the inverter is 7 years, against the market trend of 5 years. One of the major factor, in choosing a string inverter also, is the post-sales service/ support. In this area Sofar’s end as the engineers of the company are always helpful and understanding, and knowledgeable and trained enough to tackle the issues and resolve them at the earliest. However, I can also say that the number of incidents we have faced are fewer anyway. As been working in the Solar Energy industry may seem to choose the string inverter which can fulfil your requirements perfectly, there is a silver lining with the companies such as Sofar that gives an economical option with almost no compromise in terms of other important factors. All the best to team Sofar.

*GFDI System by default inbuilt in systems. *All inverters are insured by US CHUBB Insurance corporation company. *All have 25 years data storage capabilities. (Internal SD Card). *All can be found in PV Sol System & Standard Wi-Fi communication. Support RS485/ WiFi/GPRS/Ethernet for data upload. *We have all the certifications required for the India Solar Industry namely -for safety compliance IEC 62109, for anti islanding protection VDE 0126, for protection degree IP 65 and for efficiency measurement IEC 61683 and environmental testing IEC 600068. *Well-designed inverter cases: die-casting housings go through anti-corrosion and anti-rust protection processes

MR. KUNJ SHAH CMD

*4-inch diamond white-bright screen.

ZODIAC ENERGY LIMITED

*Support zero export solution and PID solution. * Local technical support for whole India market.

SOFAR SOLAR Inverter have a Wide range of inverter products in Residential, Commercial & Industrial Segment. MR. VIJAY KAKA

Complete product series of string inverters include 1KW to 6KW in single and

CEO

4KW to 70KW in three phases, power storage inverters and hybrid inverters.

TRISHA RENEWABLE ENERGY PVT. LTD,

SOFAR Adhere to Indian & International standards, tested to work better efficiently in extreme climatic condition & user friendly. Getting good generation with higher efficiency in every rating. Well-designed Industrial look products with die-casting housings go through anti-corrosion and anti-rust protection, wide display & easy operating.

“Quality , Support & service play major role to decide the inverter. Availability and

After sales service support very prompt response & 7 years warranty in Indian

pricing in rooftop segment play vital role to success.

market which is affordable with quality & product reliability.

SOFAR Inveter company have setup own service and Support team with Distributors and channel partners in growing business state. SOFAR Inverter Reliability, ease of configuration, unmatched quality and extended 7 year warranty is the strength of product ”

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Solar Quarter • August 2018 38

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Infographics

AARVI ENCON LIMITED ISO9001-2008 Company

ENGINEERING

MANPOWER

Years

OUTSOURCING

Deputation of Technical Manpower · Project Management · Construction Supervision · Inspection · Testing and Commissioning · Operation & Maintenance

Aarvi Encon Limited

Formerly known as Aarvi Encon Private Limited B1-603, Innova, Marathon NextGen, G.K.Road, Opp. Peninsula Park, Lower Parel (W), Mumbai - 400013. INDIA Tel.: 022-4049 9999, Fax: 022-4049 9998 E Mail: info@aarviencon.com, WWW. aarviencon.com Contact person: Mr. Mahesh Repal, Mobile No. : 9757024238

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Solar Quarter • August 2018 40 Solar Quarter • August 2018 40

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KOCHIN

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Infographics

Following a large drop in renewables investment in 2017, the UK is bouncing back, with subsidy-free solar PV and onshore wind projects for merchant generation as well as repowering of old wind farms.

More than 80 solar company bankruptcies have been reported in the past year due to sharp cuts in feed-in tariff (FiT) rates and extreme competition.

Rank

Large subsidy-free solar projects are now springing up, such as a 170MW PPA between BayWa r.e. and Statkraft, and a 660MW PPA between Audax Energía and Cox Energy.

Rank

(new)

Rank

(new)

Proposals were unveiled in January for the Renewable Electricity Support Scheme (RESS) with tech-neutral auctions due from mid-2019 replacing the former REFiT scheme. A new north-south interconnector has been approved, supporting plans for an extra 4.5GW by 2030.

Rank

(new)

Rank

(new)

Rank

Kazakhstan

Rank

Kenya

Indonesia

Rank

Norway

Poland

Greater interconnection to the rest of Europe and the UK is likely to create future opportunities for export of excess wind-generated power.

Rank

South Africa

Greece

Rank

Peru

Amidst coal-fired opposition, uncertainty continues for further new development, despite Eskom finally signing 27 outstanding PPAs from the country’s renewable energy IPP program.

Taiwan

Rank

Finland

Thailand

Rank

Israel

Taiwan has been taking action to increase renewables to 20% by 2025 while going nuclearfree. International and local investors have been particularly attracted to the offshore wind sector due to its strong potential and a stable financing climate.

South Korea

Although solar tariffs have risen slightly in Gujarat’s latest auction, aggressively low bids in 2017 wind and solar auctions now seem unsustainable. The threat of solar import tariffs and disputes between developers and distribution companies are raising investor concerns.

Rank

Pakistan

Ireland

Rank

Spain

Sweden

Rank

Portugal

Philippines

Rank

Egypt

Belgium

Rank

Brazil

Turkey

Rank

Italy

Morocco

Rank

Argentina

Mexico

Rank

Chile

Denmark

Rank

Netherlands

Japan

Rank

United Kingdom

France

Rank

Australia

India

Rank

Germany

China (mainland)

United States

Rank

Canada

May 2018

Canadian wind installations fell sharply in 2017 to 340MW from 702MW in 2016 as eastern provinces cooled. Auctions such as the 700MW tenders in Alberta provide some optimism, pointing to increased demand from western Canada.

Jordan

Renewables are expanding fast, as the Netherlands strives to meet its 14% EU target in 2020. Recent offers for unsubsidized offshore wind and a growing solar PV market are strong contributors.

Methodology The Index was recalibrated in 2017, with all underlying datasets fully refreshed. To see a description of our methodology, please go to ey.com/recai.

Legend

Increased attractiveness compared with previous index Decreased attractiveness compared with previous index

10 | recai | May 2018

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May 2018 | recai | 11

Solar Quarter • August 2018 45

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Industry Insights SOLAR ROOFTOPS – O&M CHALLENGES Indian Government has set an ambitious target to install 100 GW of solar capacity by 2022, out of which 40 GW has to come from rooftop projects. However, the country has managed to set up over 2 GW of solar rooftop capacity so far, whereas the target for financial year 2017-18 was 5 GW, according to the data from MNRE. Experts are raising concerns that Rooftop projects can’t be added in that quantity as a lot of roof structures especially residential are not designed to carry the additional loads of Solar PV Panels. However Small businesses, which contribute about one third to India’s $2 trillion economy, suffer from high power tariffs and erratic supply causing them to fall back on expensive and polluting diesel generators to keep the lights on. This is where we see a potential for PV rooftop projects. Government establishments and commercial buildings like malls or even warehouses have the capacity to install significant capacities of Solar PV. Once installed on roofs, it will be imperative for all players in the Solar Energy domain to come up with a suitable strategy to optimize power generation as well as tune-in operational efficiency. Maintenance at regular intervals is crucial for extending the life and generation performance of solar plants of any size. Avi Solar one of the the leading O&M Service Provider for utility PV plants is now gearing up to serve the rooftop market in India. Unlike utility plant, it is not viable to have dedicated engineers for rooftops; hence Avi solar has created “O&M Service Hubs” at strategic locations across the country. These hubs will have a workforce and spares that will cater to a bunch of rooftops. Few challenges specific to operation & maintenance of

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Roof tops are listed below: Work Permit: Most industrial roof tops have a permit system to work akin to a factory set up and O&M provider has to plan well in advance for any maintenance activity.

operation management, Optimization of resources based on requirements in each city and State is devised. Macrolevel planning, Safety training and Monitoring ensures the smooth functioning of the business. Technical solution from Professionals in the field:

Planned schedules: Plant maintenance is a repeated activity with standard operating procedures to be followed for Preventive Maintenance (PM) and Corrective/ Break down maintenance (CM). Reporting: Every scale of developer/Investor/Corporate owner of a solar PV Installation is interested in timely reports of Power generation and Health parameters of the Plant. The fairly recent advances in monitoring solutions have not penetrated the rooftop market. Reporting and analytics is not organized as much as Ground mounted plants.

Avi Solar Energy Private Limited has developed a software tool SPIDAR (Solar Plant Intelligent Data Acquisition and Reporting), a simple application software that connects owner/client of a PV plant with the real-time generation reports and performance data gathered by engineers/ technicians at the site.

Scattered sites: Ground Mounted plants may have a full-fledged SCADA monitoring system whereas many Industrial roof top plants have to invest in third-party software (portals) to collate data from various sites. Safety: As the Rooftop plants are at elevated places, safety of workers is of paramount concern. Safe working practices and PPEs are a must in this industry.

Practical approach to O&M issues: Based on extensive field operations experience and feedback from customers, Avi Solar O&M team has devised indigenous ways to address the above issues. Micro-level

Credits: Avi Solar

Solar Quarter • August 2018 47

Industry Insights SCALING UP ROOFTOP SOLAR POWER IN INDIA: THE POTENTIAL OF SOLAR MUNICIPAL BONDS FIGURE 1: POWER CAPACITY IN INDIA BY GENERATING TECHNOLOGY (AS OF 2017/11/30, % SHARE)

In the past two years, India has made significant strides in moving towards its ambitious renewable energy target of 175 GW of installed capacity by 2022. This includes 60 GW from wind power, 100 GW from solar power, 10 GW from biomass power and 5 GW from small hydropower. Currently solar power, wind power, biomass power, and small hydropower together contribute to about 60 GW or 18% to India’s total power capacity (Figure 1) with solar alone accounting for 24% of the total renewable electricity mix. However, in order to meet India’s renewable energy goals, wind power installations will need to double from their current capacity, while the solar power capacity has to scale by more than seven times in the next five years.

If India succeeds in achieving these targets, an increase in coal power capacity will not be required post 2022 (CEA 2016). From 2013-2016, installed rooftop solar capacity has grown from 117 MW to 1,250 MW (BTI 2017),which means that the Indian rooftop solar capacity has increased tenfold in just three years. The accelerating growth in rooftop solar systems is driven by the fact that the technology is already price competitive in many Indian states and sectors (CPI 2016). Recognizing the potential of solar technologies, the National Solar Mission of India has earmarked 40 GW of its 100 GW by 2022 solar power target for rooftop solar.

SOLAR ROOFTOP WALKWAY SOLUTIONS

Despite India’s considerable progress in bringing down the cost of rooftop solar installations, the deployment rate is still insufficient to achieve the national target of 40 GW by 2022. Given the current rate of annual capacity additions, it is estimated that only ~13 GW of rooftop solar will be installed by 2022 (BTI 2017), a figure far short of the target. Immediate action by the government, industrial stake-holders, utilities, and other stakeholders is therefore necessary to overcome regulatory and financial challenges that hinder further deployment. This includes introducing innovative financial interventions.

RECOGNIZING THE POTENTIAL OF SOLAR

Leading Manufacturers and Exporters of Aluminium Walkways and Handrails .

ALUMINIUM GRATINGS West Coast Engg. Works Pvt. Ltd. Expertise in Solar Rooftop Solutions

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G-10, Udyog Mandir No. 2, Mogul Lane, Mahim, Mumbai - 400 016. India. E-mail: info@westcoastengworks.com Mob: +91 98206 75767 Web: www.westcoastaluminiumgratings.com

TECHNOLOGIES, THE NATIONAL SOLAR MISSION OF INDIA HAS EARMARKED 40 GW OF ITS 100 GW BY 2022 SOLAR POWER TARGET FOR ROOFTOP SOLAR.

Credits: CPI, ICRIER, and SEI Report

Solar Quarter • August 2018 48

Infographics

Dealersh ip Inquiry +91-7226995509/10

PV MODULES SKY Series

SPACE Series

60 cells

72 cells

250W-265W

300W-330W

16.30% (Eﬃciency)

16.65% (Eﬃciency)

Sanelite Solar is a preferred manufacturer of high-quality PV modules ranging from 40Wp to 330Wp.The produccon line is carefully designed ultra-modern line with high eﬃciency automaac laminator and auto-tabber & stringer machines.The PV modules are engineers with highest grade raw material to get oppmum performance and high eﬃciency.The end produccon is an aestheecally superior absorber of sunlight-the Sanelite Solar PV Modules.

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Solar Solar Quarter Quarter •• August August 2018 2018 49 49

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Solar Quarter â&#x20AC;¢ August 2018 50

Industry Insights FINANCING OF SUSTAINABLE URBAN DEVELOPMENT IN INDIA Rooftop solar is part of a large portfolio of measures to promote sustainable urban development in India. Experiences of municipal governments to finance this development offer important insights into how rooftop solar can be scaled up to achieve the national target of 40 GW by 2022. In this section, we discuss about the rooftop solar in the context of sustainable urban development in India and role of municipal corporation in terms of financing the urban infrastructure.

ROLE OF ROOFTOP SOLAR IN SUSTAINABLE URBAN DEVELOPMENT There are multiple benefits for municipalities that take an active role in promoting rooftop solar in their constituencies. Several cities are taking part in the national government`s Solar City Program and have drawn up master plans to install rooftop solar in their respective jurisdiction. Besides being a clean form of energy, it can also contribute to efforts to improve access to energy, provision of reliable and cheaper electricity supply, reduction of air pollution etc. Given that rooftop solar is a decentralized form of electricity generation, local governments are also in a much better position to understand the risks and find solutions together with local customers and developers. However, we first need to understand the current situation of municipal corporations as far as funding overall larger sustainable infrastructure development projects is concerned.

CURRENT SOURCES OF PUBLIC FINANCING FOR SUSTAINABLE URBAN DEVELOPMENT Municipalities in India are largely financed by state and central funds. The funding channels in India are segmented across three levels: primarily central funds, state funds, and city level revenues. The central government usually allocates grants or central funds for local governments. Similarly, states will give grants to cities depending on local programs and needs. States also share part of their revenue

with cities as recommended by state finance commissions. The city level revenue comes from tax and non-tax sources. Other than these sources, cities may also apply for loans, and grants from national, and international development institutions to finance their projects.

THE FUNDING GAP FOR URBAN INFRASTRUCTURE IN INDIA Though funding from the higher levels to municipal government has increased in recent years, there is a burgeoning gap between demand and supply of funds. Traditionally, capital expenditures were met through intergovernmental transfers, grants, and scheme funds. Today, however, with increased demands on urban service delivery and infrastructure, these sources may not be enough. For example, the High Powered Expert Committee (HPEC), appointed by Ministry of Urban Development in its report on Indian Urban Infrastructure and Services estimated that funding required for urban infrastructure over 20-year period from 2012 to 2031 will be Rs 39.2 lakh crore at 200910 prices (USD 830 billion) (HPEC,2011). The committee also highlighted there would be an accompanying increase in the cost of upkeep of old and new assets. As per the projections this would be to the tune of INR 19.9 lakh crore (USD 420 billion) over the same period (HPEC, 2011). The Economic Survey of India 2016-17 points out that much of this should come from local resources (GoI, 2017). As municipal contribution to India’s GDP is critically low at 0.54 percent of the GDP (Mathur et.al, 2011), there is an immediate need to step up revenue mobilization and explore new sources of funding at city level.

PAST EXPERIENCES WITH MUNICIPAL BONDS TO FINANCE URBAN DEVELOPMENT Many countries have been successful in using municipal bonds to fill funding gaps for city projects. India has

experimented with municipal bonds since 1999 to raise additional sources of funding for projects, but with limited success. The municipal bond market in India has raised only about INR 13 billion in the last 20 years (World Bank 2011). Out of the bonds issued, most of the funds were used for water supply, water sanitation, and roads. The tenor of the bonds issued have typically been between five to fifteen years, with fixed interest rates. There has been few pooled finance bonds where small municipalities collectively issued bonds under a state-owned entity created precisely for this purpose. It is clear that overall, significant challenges remain in making municipal bonds successful, especially since the financial health of the majority of urban governments is not robust enough to furnish debt.

A NEW PUSH FOR INDIA’S MUNICIPAL BOND MARKET The government of India has recently put new framework in place under the Fourteenth Finance Commission to incentivize municipalities to issue bonds to finance urban infrastructure. Most recently, through the Smart Cities Mission, the central government has encouraged cities to delve into the municipal bond market again. The biggest turnaround in this respect came in 2017 when the municipal corporation of Pune successfully issued a municipal bond. This was the first municipal bond in last fourteen years, and experts expect it to be followed by similar issues from other municipal corporations. The first tranche of the Pune bond, rated AA+ raised Rs.200 crore and would finance a water supply metering project in the city. The bond offered a 7.59% rate of interest was well received by the market, being oversubscribed six times. These recent developments in the municipal bond market can be leveraged for the rooftop solar sector as well. In the next section, we discuss how these municipal bonds can also be used to fund rooftop solar projects in India. Credits: CPI, ICRIER, and SEI Report

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Solar Quarter • August 2018 51

Industry Insights UNLOCKING NEW GEOGRAPHIC MARKETS FOR STORAGE To date, battery storage deployment has been concentrated in a handful of developed economies in North America, East Asia & the Pacific and Europe & Central Asia. The leading countries are the United States, South Korea, Japan and a number of European countries including Germany, the United Kingdom and Italy. In total, around 96% of installed projects exist in these countries. 24 The remainder 4% are in China and South America, predominantly in Chile. The Middle East & North Africa, South Asia and Sub-Saharan Africa only have negligible amounts of battery storage. This uneven distribution of projects around the world means that there is significant room for growth outside of the main markets. The opportunity is particularly pronounced in many developing countries where power systems are less advanced and countries may choose to ‘leap frog’ over the traditional development path chosen by other countries in favour of market and technical arrangements more suitable for today’s energy technologies. Several of these countries are also endowed with generous solar resources, which if developed and combined with costeffective storage can deliver cheap and low-carbon base load electricity. Another driver is the need to upgrade an ageing grid infrastructure at the same time as electricity demand is expected to grow. These drivers combined with learning from the more advanced regions are therefore creating an environment ripe for further storage deployment. In South Africa, the country’s main utility Eskom estimates a need for 2 GW of energy storage on its networks to accommodate a target of 18 GW of renewables by 2030 and recently opened a testing facility to assess different storage options.25 As part of the testing facilities activities, the US Trade and Development Agency (USTDA) announced in September 2017 that they intend to fund the capital cost for a flow battery provided by US company Primus Power. The battery will be developed by local developer Solafrica Energy. USTDA also recently (July 2017) announced a partnership with Kenyan renewable developer Xago Africa and US battery storage developer Alevo to fund a 40 MW solar PV plant with integrated Li-ion storage. The rest of Sub-Saharan Africa is expected to predominantly deploy remote power systems due to the lack of a well-developed grid infrastructure. Power Africa, another USTDA funded project, aims to develop 25 solar microgrids across Nigeria including grid infrastructure, smart metering and storage systems. Latin America and the Caribbean are considered attractive markets for energy storage development, also because of their large-scale growth ambitions for solar PV. The major markets in Latin America, Chile, Argentina, Mexico and Brazil, have or are in the process of deregulating their power markets thereby paving the way for independent power producers and merchant storage developers.26 In 2015 Bolivia deployed a 5 MW solar project connected

In East Asia and the Pacific, China is expected to be the leader in storage deployment. The state-owned utility State Grid Corporation of China is currently opening up for competition from non-state power providers. China also has aggressive concentrated solar targets (10 GW by 2020)

prospects for storage to contribute to remote power

of lithium-ion batteries in the pipeline and last year AES

systems

installed a 10 MW battery in the country.

� Barriers still remain which include access to affordable

South Asia’s energy storage market is expected to be

finance, lack of local expertise and political instability in

dominated by India. Ambitious renewable energy policies,

some regions.

such as Narendra Modi’s target of 100 GW of solar PV by 2022, could make India the largest solar PV market in the world and pave the way for associated storage deployment. As with other regions, India’s storage deployment will also be driven by population growth and investments in an ageing grid infrastructure. One of the more positive recent developments was a July 2016 tender in which hundreds of megawatt of solar PV was procured which included the mandate to develop 5 MW/2.5 MWh of storage for every 50 MW of solar PV. These and other developments show that there are recognised benefits that storage can provide to emerging

CHINA IS EXPECTED TO BE THE LEADER IN STORAGE DEPLOYMENT. THE STATE-

deployment of storage need to be dealt with. These

OWNED UTILITY STATE GRID

include: � Markets tend to be vertically integrated and regulated leading to a lack of competition and remuneration mechanisms for storage assets. The process of deregulation, such as that seen in Latin America and China, therefore needs to continue with further open dialogue between policy makers and the investment community. � Limited local experience and knowledge with storage can increase costs and supply chain risks. To date this has been a significant barrier to solar PV deployment in India. Knowledge transfer from more advanced regions should therefore take place to build up local expertise.

owned electricity company as well as with a grant from

some regions this is often exacerbated by political and

the Danish Corporation for Development in Bolivia. The

economic instability. Grant funding and capital injection

Caribbean is expected to deploy battery systems for

from national and international agencies, such as that

remote power applications and there are already several

seen from the Danish Corporation for Development in Bolivia and USTDA’s involvement in Africa, could therefore step in to close parts of the funding gap.

over the next years. For example, French storage developer

UNLOCKING NEW GEOGRAPHIC MARKETS FOR STORAGE: KEY POINTS

Quadran is expecting a four-fold increase in its own storage

� The vast majority (96%) of battery storage is found in

deployment on the French Caribbean islands between

a handful of countries including United States, South

2018 and 2023 (50 MWh to 200 MWh).

Korea, Japan and leading European countries such as

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IN EAST ASIA AND THE PACIFIC,

markets. However, a number of barriers to further

not being seen as bankable by traditional financiers. In

storage developers are expecting increased deployment

renewable penetration and an ageing grid infrastructure.

batteries. In addition to China, the Philippines has 100 MW

in a nearby town. The project was funded by the state-

battery storage for frequency support on Guadeloupe and

outside of these regions including increasing levels of In countries where grid connection is poor there are strong

� Access to affordable financing is hard due to projects

on the Dominican Republic. In 2017, EDF installed 5 MW of

� A number of factors are driving storage development

although this will likely benefit thermal storage rather than

with a 2.2 MW battery that supplies 54,000 inhabitants

projects underway including an 8 MW lithium-ion system

Germany and the UK

CORPORATION OF CHINA IS CURRENTLY OPENING UP FOR COMPETITION FROM NONSTATE POWER PROVIDERS. CHINA ALSO HAS AGGRESSIVE CONCENTRATED SOLAR TARGETS (10 GW BY 2020) ALTHOUGH THIS WILL LIKELY BENEFIT THERMAL STORAGE RATHER THAN BATTERIES. IN ADDITION TO CHINA, THE PHILIPPINES HAS 100 MW OF LITHIUM-ION BATTERIES IN THE PIPELINE AND LAST YEAR AES INSTALLED A 10 MW BATTERY IN THE COUNTRY.

Solar Quarter • August 2018 52 Solar Quarter • August 2018 52

Industry Insights ADVANTAGE INDIA

Credits: Renewable Energy- IBEF Report 2018

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Solar Quarter â&#x20AC;¢ August 2018 53

Industry Insights BLOCKCHAIN DEFINING FUTURE OF ENERGY IN INDIA OVERVIEW OF ENERGY SECTOR IN INDIA India now ranks 6th in world energy consumption index. This is mainly due to the growing demand for energy, which is increasing at a whooping rate of 3.6% per annum over the past 30 years. According to power ministry, at the end of December 2012, the installed power generation capacity of India stood at 210951.72MW, while the per capita energy consumption stood at 733.54 KWh (2008-09). The total demand for electricity in India is expected to cross 950,000 MW by 2030. Two-thirds of rural India is still waiting to get electricity. The power generation mostly depends on thermal (coal, gas, oil) – 67%, hydro – 13.5%, nuclear – 2.1% and RES (Renewable Energy Sources)- 17.4%. Today, we are highly dependent on non-renewable source of power generation, and hence require alternate source of power generation like solar, hydro, wind, biomass power, and power from urban and industrial waste. THRUST ON SOLAR POWER GENERATION The level of carbon emissions is alarming, and India is considered to be the third largest emitter of greenhouse gases in the world. It is estimated that if India continues to use its current mix of fuel sources to achieve its energy needs, the impact on world environment would be devastating. To address this grim situation, PM Modi has committed to install 175 GW of additional renewable capacity by 2022, of which 100 GW would be solar. Government is giving a subsidy of up to 70% for installing solar power panels. Large solar power farms are being set up for power generation across the country. As of 30 April 2017, the country’s solar grid had a cumulative capacity of 12.50 GW.

India quadrupled its solar-generation capacity from 2,650 MW on 26 May 2014 to 12,289 MW on 31 March 2017. The average current price of solar electricity has dropped to 18% below the average price of its coal-fired counterpart. CURRENT SOLAR POWER DISTRIBUTION LANDSCAPE IN INDIA AND CHALLENGES Today, solar power must be directed to national grids for distribution. There is no off-grid mechanism to save on transmission cost and wastage. This also results in extra infrastructure set-ups and admin cost. The existing power grids are obsolete and not equipped to handle renewable energy very efficiently. India’s transmission losses were among the highest in the world, at about 27% in 2014. Solar farms depend on the ability to resell power to the public grid to maintain profitability – a benefit that’s not possible in off-grid settings. This also limits power distribution to rural areas that are not connected to power grid. There is a serious need to look at alternatives like producing in-situ solar power and off grid distribution, on a smallscale basis to avoid wastage and to provide power to rural areas that are not connected to a central power grid. Blockchain can enable an off grid decentralized sustainable solar power distribution Framework In a country like India, where people in rural abodes are still deprived of electricity, solar power holds a lot of promise. Solar power is abundantly available and gives each household an opportunity to generate power of its own. This paves path for development of a self-sustained power generation capacity that has less reliance on a centralized framework. The solar power generation capacity can range from large

solar power farms to even a small household in a village community. In such a community-based power generation set up, the points of power generation are distributed which may not work well with current day’s centralized power grids. The idea requires a technology that compliments decentralized, distributed and self-managed power generating frameworks -a technology that enables direct P2P sale of solar energy. A blockchain-enabled decentralized P2P micro power grid structure can bring together small groups of a community together, to buy/sell solar power for a price without directing power to a central grid. Photovoltaics systems installed on rooftops of various households in vicinity can be interconnected through the conventional power micro grid. The transactions will be managed and stored using a central blockchain connected to the grid. The implementation of the idea would require smart meter technology and blockchain with inbuilt smart contract functionality. The smart meters will keep the record of energy produced at every point, and blockchain will record the transactions between various households and solar farm owners in a community set up. Blockchain powered micro grid will record data, transfer solar energy units in exchange of a digital-currency within a village or community based decentralized solar power microgrid. It can also facilitate “smart contracts” that triggers automatic payments and transfers between producers and consumers, as and when energy units are purchased or sold using redeemable digital tokens. Prices can fluctuate based on supply and demand to create a market-based clearing mechanism. With blockchain, a level playing field is created for producers, prosumers, and even for a single person with a single solar panel who wants to sell out the excess energy units produced. Such projects can be operated at a cooperative community level, with all the solar panel holders in vicinity as stakeholders.

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Solar Quarter • August 2018 54

Industry Insights A consortium of solar panel owners in a small village can benefit in 3 ways by setting up a blockchain-based decentralized solar power micro-grid 1.Various solar panel owners located in vicinity or a small village can come together, form a consortium, be a part of micro-grid and release a digital currency for energy trading 2.The nodes on network can buy and sell less/excess energy units available across nodes for exchange of digital tokens 3.The expenses involved in setting up a distribution infrastructure across village can be addressed by inviting investment in form of equity holding and distributing stake in the form of cryptocurrency 4.Profitability can be ensured by setting up a real-time demand supply price mechanism for producers, prosumers, consumers and investors 5.Dividends can be triggered out in the form of digital tokens to investors wallet based on fulfilment of certain criteria ADVANTAGES OF BLOCKCHAIN POWERED SOLAR INFRASTRUCTURE 1. Boost to green energy: Rural parts of the country can set up a self-sustained power generation center and meet their electricity needs. Simultaneously, they can produce green energy, and reduce dependence of non-renewable and polluting energy sources 2. Disintermediation: A huge reduction in intermediaries like govt. departments, private companies, third parties managing distribution. The whole process of energy generation and distribution will become more direct between suppliers and consumers that requires minimum human interference. For instance, a consumer can directly enter in a contract with power generating company. There is no need of agents to keep track of meter reading, unit

consumption, and previous months reading, calculating bills and sending across to customer. A customer can have a real-time visualization on his energy consumption and how he is being charged. 3. Low Cost: Lower transaction costs due to the cutting out of intermediaries, and decline in energy prices because of greater market transparency 4. Level playing fields in energy market: Flexible products (tariffs) and supplier switching. Empowering of prosumers due to freeing up from central authority (direct purchases/ sales of energy) 5. Permanent Log of activities: There are no extra efforts needed to capture the transactions between various entities. Each activity of nodes connected on blockchain is recorded in a chronological order for reference.

6. Error free: The dealings and invoice generation will be completely transparent and automated. This brings down the administration and dispute handling time and cost. Blockchain wipes out the chances of any error or manipulation to bill amount. WAY FORWARD The effort is in very early stages of development and being tested on a very small scale. Going forward, the private energy players in the country would want to capitalize on the opportunity by providing essential infrastructure like micro grids, smart meters and a blockchain platform, and act as an aggregator to bring all energy producing points in a village or a community together. The move would promote competitive pricing and make energy more accessible for everyone in the country.

Credits: Mphasis

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Solar Quarter • August 2018 55

Investment Trends RENEWABLE ENERGY – THE INDIA OPPORTUNITY India is ranked 4th in the world in terms of RE investments in 2017 at ~USD 10.9 Bn. However, this figure fell by 20% in comparison to the ~USD 13.7 Tn investment in 2016 due to a major decline in investments in the wind sector (down ~41%). This decline in the wind sector was caused by a changing auction regime and only a marginal increase by a changing auction regime and only a marginal increase in solar (~3% YoY) owing to a sharp rise in module costs, regulatory impositions and an overall slowdown in tender capacities. Nonetheless, India still finds itself among the top 3

Source : UNEP

developing economies (including Brazil and China) which continue to extend their lead over some developed economies in terms of volume of RE investments. India was also recently ranked 4th in terms of the RE Country Attractiveness Index (RECAI), published by EY, and with the latest Moody’s India upgrade to Baa2 from Baa3 (outlook upgraded from stable to positive), the investment cycle is expected to improve due to the anticipatory surge in auction capacity for both wind and solar.

CURRENT RE FINANCING MIX & EMERGING GREEN BOND ERA – AN OVERVIEW A Green Bond is a bond specifically earmarked to be used for climate and environmental projects. � Financial commitments of ~ INR 4 lakh Cr received

Source : Hindu Business Line

during RE – Invest 2015 � ~INR 1.8 lakh Cr sanctioned & ~INR 1.37 lakh Cr disbursed as on Aug’17 (Source: Hindu Business Line)

� Green Bonds have become one of the most prevalent

minority stakeholder helps link project returns to

mediums in the debt capital market as an alternative to

satisfactory project operations

traditional bank financing (~USD 2.4 Tn raised in last 2 years alone). India finds itself featuring in the list of top 10 countries (by total issuance size).

USD 165 Mn till date. � Further as per Moody’s findings, the total green bond issuances in India on a cumulative basis has reached USD 6.5 Bn (~62% allocated to RE segment and ~USD 4.3 Bn raised in 2017 alone) and has more than doubled since the nation’s capital market regulator SEBI issued the regulations for Green bond in May 2017.

LEADING INVESTMENT TRENDS IN INDIA’S RE SECTOR: Private Equity (PE) Flows � Jumped ~47% in 2017 (USD 920 Mn in 9 deals vs. USD 630 Mn in 10 deals in 2016) � FY2017 was the 2nd best year for PE flows after FY2015 (USD 979 Mn in 14 deals) � Notable deals in 2017 include: GIC & ADIA – Greenko (USD 385 Mn) IDFC – First Solar (USD 200 MM), JERA – ReNew (USD 200 MM), CPPIB-Renew (USD 350 Mn) Warburg Pincus – CleanMax (USD 100 Mn)

Sector Consolidation/M&A Activities � 3 years have witnessed a number of acquisitions:

Tata Power – Welspun (1.1 GW deal in June 2016)

Greenko–Orange (900 MW deal in Jun 2018)

Sembcorp-Green Infra (700 MW in Feb 2015)

Greenko–Sunedison (500 MW deal in Oct 2016)

� Equity Participation by Module Suppliers:

Hanwha’s participation in Azure’s 150 MW Punjab project

� YES BANK was the first company in India to issue Green Infra Bonds in February, 2015 and has raised in excess of

EPC contractor/equipment supplier participation as

Hareon Solar participation in Renew’s 72 MW AP project

INDIA STILL FINDS ITSELF AMONG THE TOP 3 DEVELOPING ECONOMIES (INCLUDING BRAZIL AND CHINA) WHICH CONTINUE

While Greenfield pipeline slowed down in H2 FY18,

TO EXTEND THEIR LEAD

key players continued to maintain traction in terms of

OVER SOME DEVELOPED

investment flows and inorganic growth opportunities

RE SECTOR IN INDIA – TARIFF SCENARIO Average solar tariffs have fallen by ~70% since 2010,

ECONOMIES IN TERMS OF VOLUME OF RE INVESTMENTS. INDIA WAS

almost mirroring the decline in module prices (~80 %

ALSO RECENTLY RANKED

since 2010). Further, NTPC/ SECI auction regime, solar

4TH IN TERMS OF THE RE

parks (plug and play model) and cut-throat competition

COUNTRY ATTRACTIVENESS

have also significantly contributed to the declining tariffs. The state allocated capacity also tend to follow the tariffs

INDEX (RECAI), PUBLISHED

discovered in the NTPC/SECI auctions.

BY EY, AND WITH THE LATEST

As far as wind power is concerned most of the developers

MOODY’S INDIA UPGRADE TO

were entering into PPA’s with DISCOM’s on a preferential/

BAA2 FROM BAA3 (OUTLOOK

Feed in Tariff (FiT) basis. Taking a cue from the solar power

UPGRADED FROM STABLE TO

auction mechanism wherein better price discovery is

POSITIVE)

achieved, the industry is gradually witnessing a phasing out of the FiT regime and moving towards a competitive bidding (competitive bidding auctions being conducted by SECI), with record tariff lows below INR 2.5/ kwh.

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Solar Quarter • August 2018 56

INDIA IS RANKED 4TH IN THE WORLD IN TERMS OF RE INVESTMENTS IN 2017 AT ~USD 10.9 BN. HOWEVER, THIS FIGURE FELL BY 20% IN COMPARISON TO THE ~USD 13.7 TN INVESTMENT IN 2016 DUE TO A MAJOR DECLINE IN INVESTMENTS IN THE WIND SECTOR (DOWN ~41%).

Credits: Yes Bank

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Solar Quarter â&#x20AC;¢ August 2018 57

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Solar Quarter â&#x20AC;¢ August 2018 58

Industry Insights GROWTH DRIVERS- GOVERNMENT POLICIES

Note : GW - Gigawatt Source : Ministry of New and Renewable Energy (MNRE), News Articles

Credits: Renewable Energy- IBEF Report 2018

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Solar Quarter • August 2018 59

Industry Updates SARDAR VALLABHBHAI PATEL INTERNATIONAL AIRPORT – AHMEDABAD WILL USE SOLAR POWER AND BELIEVING IN SOLAR IS THE FUTURE ELSEWHERE

Prozeal Infra Engineering Private limited is a leading engineering and project management company. Focus areas are Solar EPC, carbon asset management, renewable energy advisory and sustainability reporting.

Prozeal Infra Engineering has over 50 MW of experience in commissioning Solar PV projects and has projects in more than 14 states in India.

Prozeal has very well-known clientele like: Capgemini, Pidilite, Gulf oil, Minda Group , Alkem Laboratories, L&T, Ministry of Electricity and Water in Kuwait etc.

Prozeal Infra Engineering has been awarded by the AAI (Airport Authority of India) to installed solar power plant at SVP International airport at Ahmedabad. The Capacity of power plant is 700 KWp, Which is divided into two parts, 200 KWp at substation and 500 KWp at international airport terminal building.

The new solar power plant consist of 2200 no. of PV modules. These have been installed at G.I Roof and Terminal Terrace at Sardar Vallabhbhai Patel International Airport.

Prozeal is proud to announce that, we completed this project along with the net metering within the timeline given by AAI (Airport Authority of India), so that AAI gets the incentive from MNRE.

“Ahmedabad Airport’s this step to moving forward to solar energy will be Benchmark for whole AAI and throwing lights to AAI for the remaining Airport. 700Kw Solar Plant Will Fulfill 20 % Requirements of the airport, which will generate approximately 10.5 Lakh Kwh (Units) every year and it will save around Rs. 84 lakh every year on its electricity cost” said Mr. Manan Thakkar, Director of Prozeal Infra Engineering Pvt. Ltd.

PROZEAL IS PROUD TO ANNOUNCE THAT, WE COMPLETED THIS Also, Prozeal is awarded government projects like, BARC(BHABHA ATOMIC RESEARCH CENTRE) and IOCL-(INDIAN OIL CORPORATION LIMITED).

PROJECT ALONG WITH THE NET METERING WITHIN THE TIMELINE GIVEN BY AAI (AIRPORT AUTHORITY OF INDIA), SO THAT AAI GETS THE INCENTIVE FROM MNRE.

Prozeal is coming up with the Solar park of 50 MW in Gujarat in first phase for sell of power in Third Party Open Access Model out of which 10 MWp PPA is already signed and under execution.

AHMEDABAD AIRPORT’S THIS STEP TO MOVING FORWARD TO SOLAR ENERGY WILL BE BENCHMARK FOR WHOLE AAI AND

“Such initiative will help in reducing the carbon footprint at Airports and will motivate other Airport under AAI to go for Solar”. Also Added by Mr. Manan Thakkar, Director of Prozeal Infra Engineering Pvt. Ltd.

THROWING LIGHTS TO AAI FOR THE REMAINING AIRPORT. 700KW SOLAR PLANT WILL FULFILL 20 % REQUIREMENTS OF THE AIRPORT, WHICH WILL GENERATE APPROXIMATELY 10.5 LAKH KWH (UNITS) EVERY YEAR AND IT WILL SAVE AROUND RS. 84

Article: Prozeal Infra Engineering Private limited

LAKH EVERY YEAR ON ITS ELECTRICITY COST” SAID MR. MANAN THAKKAR, DIRECTOR OF PROZEAL INFRA ENGINEERING PVT. LTD.

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SolarQuarter Quarter• August • August2018 2018 6060 Solar

Industry Insights GOVERNMENT INITIATIVES

RES AS A PERCENTAGE OF TOTAL INSTALLED CAPACITY (%)

� Targets deployment of 100 GW of solar power by 2022. � Various incentives are being offered under the scheme: �

Zero import duty on capital equipment, raw materials

�

Low interest rates and Priority Sector Lending

�

Single window mechanism for all related permissions

�

Tax exemption and capital subsidies available

� Scheme for setting up 1000 MW Inter State Transmission Systems (ISTS) connecting wind power projects. � Projects of 50MW and above will be connected to ISTS point. � The scheme also provides for 25 years of PPA and PSA. � The first round of auction was completed in February 2017 and another round of auction was announced in May 2017.

Source : Ministry of New and Renewable Energy (MNRE), Make in India, News Articles Notes : GW – Gigawatt, MW – Megawatt, PPA – Power Purchase Agreement, PSA- Power Sale Agreement

Note: 1 - Renewable Energy Attractiveness Index by EY, 2017-18* - as of January 2018 Source: Ministry of New and Renewable Energy (MNRE), Central Electricity Authority (CEA), Greenpeace India

� Wind power projects with the capacity of 3 GW will be auctioned by FY18 end. � Project for evacuation of renewable energy from generation points to the load centres by creating intra-state and inter-state transmission infrastructure. � India received a US$ 1.15 billion soft loan from German development bank KfW for implementation of green corridors project. 40 per cent of Intra state and 70 per cent of inter state transmission schemes will be funded through the soft loan. � As of January 2017, there were about 100,000 people working in four major areas of renewable energy sector viz. Solar, Wind, Biomass and Small Hydro Power. � To meet the rising demand of trained manpower, target of achieving 50,000 “SuryaMitras” of skilled manpower in solar enery sector by 2019-20 has been set.

MOVE TOWARDS RENEWABLE SOURCES � It has been estimated that renewables will comprise 49 per cent of India’s power generation by 2040. � Over the last few years there has been an increase in percentage contribution of renewable energy to total installed capacity. In 2013-14 the contribution was 12.92 per cent which has increased to 18.79 per cent by January 2018. � India aims to achieve a total of 175 GW of installed renewable energy capacity by 2022. It is estimated that India will become the third largest solar market in 2017 while India already has the fourth largest wind power installed capacity globally. � India has moved from the seventh position in 2014 to second position in 2017 in the Renewable Energy Attractiveness Index.1 � Replacing coal plants with renewable sources is expected to save India Rs 54,000 crore (US$ 8.4 billion) annually due to reduced power costs. Credits: Renewable Energy- IBEF Report 2018

w wwwww. .s so ol la ar rq qu ua ar rt te er r. .c coomm

Solar Solar Quarter Quarter •• August August 2018 2018 61 61

Industry Insights INDIA IMPOSED SAFEGUARD DUTY ON IMPORT OF SOLAR CELLS FROM CHINA AND MALAYSIA India imposed an anti-dumping duty on solar cells imported from China and Malaysia. According to the government notification on 30th July 2018, the duty of 25% starts immediately for next one year, and then 20% and 15% for the subsequent half-yearly periods. Panels account for around 50% of the project spending and the cost of solar project with Chinese panels is expected to go up by 10-15%. Cost of solar power would go up by 2030 paise per unit to retain investment return. There is not enough supply of Indian modules which can cater to the growing need of solar projects in India. Indian manufacturers can hardly cater to 15% of the demand and market is growing at a very fast pace. These domestic suppliers can no way cater to the increasing demand in near future. Access to the overseas investors and low cost fund is important for the growth of the solar Industry in India and the market has just been gaining momentum.

to investment in R&D and technology to compete with

Anti-dumping duty is ill-timed and going to negatively

international market. They can afford to invest and market

impact most of the domestic manufactures who are

is big enough to justify their investment.

anyway dependant on import of cells from China. Duty may provide only a short term boost to a few Indian

We need to make solar more affordable and accessible to

manufacturers of panels. However, Indian manufacturers

end consumers. Making solar expensive and unaffordable

may eventually be impacted by decline in demand and

with a short term focus in the name of protecting domestic

sentiment. Investors and developers would be forced to reassess their commitments and fund flow to the solar

manufacturers would be detrimental to the growth of the

industry would be impacted.

eco-system. Manufacturers need to invest in R&D and

This kind of one-off measure would not give boost to the

technology, and aspiring superpower like India needs to

Indian manufacturing industry. Indian manufactures need

look beyond protectionism!

COST OF SOLAR POWER WOULD GO UP BY 20-30 PAISE PER UNIT TO RETAIN INVESTMENT RETURN.

Author: Mr. Gautam Das, Co-Founder/Director, Oorjan Cleantech Pvt Ltd

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Solar Quarter â&#x20AC;˘ August 2018 62

Industry Insights GLOBAL GENERATION MIX The rising importance of renewable energy in the global

RENEWABLE POWER GENERATION AND CAPACITY AS A SHARE OF GLOBAL POWER, 2007-2017, %

electricity generation mix is confirmed in three ways in the figure. The upper line shows the percentage of net new generating capacity added in each year that is made up of renewable technologies (excluding large hydro). This has increased spectacularly over the years, from just under 20% in 2007, to 39% in 2013, to 57% 2016 and 61% in 2017. These percentages are worked out by taking the estimated gross additions in gigawatt terms for each technology (coal, gas, oil, nuclear, large hydro, small hydro,geothermal, biomass and waste, onshore and offshore wind, PV and solar thermal), and then subtracting the gigawatts of each that is taken out of service. That gives a total net addition figure. The net addition of renewables excluding large hydro can be compared against that. The middle line on figure shows the percentage of cumulative world generating capacity that is accounted for by renewables excluding large hydro. This has increased in almost a straight line, from 7.5% in 2007 to 13% in 2013 and 19% in 2017, as the gigawatts of new wind and solar plants added have grown and the

Renewable figure excludes large hydro. Capacity and generation based on Bloomberg New Energy Finance totals. Source: UN Environment, Bloomberg New Energy Finance

net additions of fossil fuel power stations have decreased. However, that line is capacity, not actual electricity

There are two ways of looking at that 12.1% figure. One

all PV but with a few hundred MW of solar thermal), wind

generation. Clearly, wind and solar will always account for

(the “glass seven-eighths empty” view) is to say that new

52GW (mostly onshore but with about 5GW of offshore),

a higher proportion of capacity than generation, because

renewables are still only generating a small share of world

biomass and waste-to-energy just over 3GW, small hydro

they cannot produce power when the wind does not blow

electricity, even after $2.9 trillion of investment since 2004.

just under 3GW and geothermal about 700MW.

and the sun does not shine. The lower line on the chart

The other (the “glass one-eighth full” view) is to say that

shows that, in 2017, their share of total electricity produced

those projects that already exist saved the world from

There was virtually no capacity withdrawn, so the net

grew to 12.1%, a record, up from 5.2% in 2007, 8.6% in

emitting 1.8 gigatonnes of CO2 last year. For renewables

2013 and 11% in 2016.

excluding large hydro, this report is putting the addition last year at 157GW, made up of 98 GW of solar (almost

wwwwww. .s so ol la ar rq qu ua ar rt te er r. . c c oo mm

additions were almost exactly the same as the gross additions. Credits: Bloomberg

Solar Quarter • August 2018 63

Tech Insights EAST WEST FACING SOLAR PLANT : FESEABLITY ANALYSIS Since the introduction from solar energy in

FIG 1

India, we have seen panels facing in south direction

only,

witch

certainly cause a limited the panel layout within a roof. However, since some time researches shown that solar plant can

generate

almost

equal output for a fix capacity of plant, even if panels are placed in East-West Direction. However, while placing the panels in east west direction, space required for a capacity will get reduce considerably. In that way solar plants with east west directions will have more efficient utilization of space, compare to the south direction panels. Let us understand it better way with a practical PV Syst report:

PVSYST SIMULATIONS CASE STUDY: � In Pvsyst simulation for latitude of 13 degrees (Chennai) for both E-W and South facing modules, below are observations. � E-W @13degrees generation will be almost 2.5% lesser in comparison with S facing@13 degree. See Fig. 1 � E-W @13degrees area utilization for 100 kWp solar Array will 839.02 Sq.Meter in comparison with S facing@28degree will be 1115.18 Sq.Meter. (25% more) See Fig.2

GENERATION CALCULATION: � Dual orientation Energy Generation - 158.9 MWh/year � Single orientation Energy Generation - 155.1 MWh/year � 155.1/158.9 = 2.3% loss.

AREA CALCULATION: � Single orientation Area calculation - 40.23 x 27.72 = 1115.18 Sq.Meter. � Dual orientation Area calculation - 27.25 x 30.79 = 839.02 Sq.Meter.

FIG 2

� Extra area req. for south orientation - 839.02/1115.18 = 24.7%

CONCLUSION � E-W facing solar modules are giving almost same generation in comparison with south facing modules, where the latitude is less than 13 degrees. � So, if the latitude is less than 13 degrees for that locations (South India), E-W orientation is cost effective because generation will same for both the cases. (E-W v/s. N-S) � Surely you will save cost on Land as so on to cables etc. � Investment for Both system will be same (Procurement, man power, Engineering.) get more profit in dual orientation system because in same investment we can get larger system. � The traditional south facing configuration was optimal when the BOS cost was quite low compared to module cost. But in today’s pricing environment where the share of PV module cost as a percentage of Capex has dropped drastically, reducing the BOS cost becomes utmost important. And E/W configuration promises that BOS cost reduction. Inspiring with the above analysis, European based company Solar Kit, Has started its production for click fit type module mounting structure, based on the innovative European technology and tested in Europe since long time. They have started the production in Navi Mumbai , with the ready made solution of structure with east west facing direction along with the traditional south facing direction. It is seen that using a East West direction structure, will save almost 30 % of roof area, which can be utilize by adding more capacity of plant or can be utilized for any other use. This can be a huge point of interest of going to east-west direction, in the metro cities like, Mumbai, Delhi and Bangalore in India, where getting a sufficient shadow free space is very difficult. So east-west solutions can be a trendsetter in the market because of saving of space, reduction in cost of BOS etc. without any considerable reduction in the generation.

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Author: Mr. Amit Tamrakar

Solar Quarter • August 2018 64

Industry Insights INDIA TRANSFORMS MARKET FOR ROOFTOP SOLAR STORY HIGHLIGHTS � India has a massive need for energy. Its per capita consumption of electricity is less than one third the world average. � To meet its target of generating 100 GW of solar energy by 2022, India has installed solar parks on large tracts of unused land across the country. � Now, thanks to a new partnership between the World Bank and the State Bank of India (SBI), India’s largest bank, the market for rooftop solar has also begun to take off. Sometimes change comes so quickly it takes time to get to grips with it. One such change is now beginning to take hold in India.

Photo Credits: World Bank

Endowed with more than 300 days of sunshine a year, India is making strides towards becoming a global solar superpower.

Today, Amplus has around 250 megawatts of solar plants –

With strong sunshine beating down on rooftops across most

Since 2009, when the country first launched the National

either installed or under construction - serving more than 70

of this tropical country, the future of solar power in India is

Solar Mission, it has installed solar parks on large tracts of

customers across 20 states of India.

bright indeed.

unused land across the country.

One of Amplus’s first customers was the India Yamaha Motor

“But solar parks need land, and land is scarce in a densely-

plant in the Noida industrial belt, across the river from Delhi.

populated country,” explained Simon Stolp, lead energy

The motorcycle manufacturer first began installing solar

specialist at the World Bank in Delhi.

panels on its Noida rooftops in 2016 to comply with the

“Rooftops, on the other hand, hold huge potential.” Today, thanks to a new partnership between the World Bank and the State Bank of India (SBI), India’s largest bank, the market for rooftop solar has also begun to take off. “Tapping the rooftop solar market will be essential for India to meet its massive energy needs,” said Stolp. “The country has a lot of catching up to do - its per capita consumption of electricity is less than one third the world average.”

WILL BE ESSENTIAL FOR INDIA TO

company’s global energy policy.

MEET ITS MASSIVE ENERGY NEEDS. THE

Today, Yamaha’s Noida facility is one of the largest

COUNTRY HAS A LOT OF CATCHING UP

manufacturing plants in India with a ‘captive’ solar rooftop

TO DO - ITS PER CAPITA CONSUMPTION

facility of more than 20,000 solar panels which generate 6.3 MW of power.

USING GREEN POWER IN MANUFACTURING The sea of solar panels on

To meet these energy needs, India has set itself the ambitious

Yamaha’s rooftop is owned by

target of generating 100 GW of solar energy by 2022, forty

the developer. “We buy clean

percent of which is to come from rooftop solar.

solar power from Amplus at

GETTING THE FINANCING

TAPPING THE ROOFTOP SOLAR MARKET

OF ELECTRICITY IS LESS THAN ONE THIRD THE WORLD AVERAGE. Simon Stolp (Lead energy specialist at the World Bank in Delhi)

Rs.6 per unit - compared to Rs. 8.5 per unit from our usual

Until now, however, it was difficult to breakthrough into

energy provider,” explained

the rooftop solar market. Although the business case was

Sanjiv

strong, and the costs of solar panels were falling dramatically,

president at Yamaha Motor

financing was difficult to come by.

India.

In solar plants, the largest capital investment goes toward

“This has reduced our power

the installation of solar panels, and must be made upfront.

costs

At today’s prices, this amounts to an investment of about

During

Rs. 5 crores (approx. $ 760,000) to produce one megawatt

power meets a fifth of the

of power. “But banks had no models for such new forms of

Yamaha facility’s energy needs

lending,”explained Stolp. “And even where financing was

and, on holidays, the energy is

available, the costs were just too high.”

fed back into the grid, creating

Paul,

senior

20-25

peak

vice

percent.”

times,

solar

an energy credit that the

OVERWHELMING RESPONSE

company can draw upon later.

Things have now begun to turn around very quickly. Since

The change is now beginning

June 2017, when the World Bank announced a $625 million loan to SBI to provide discounted finance for rooftop solar installations on factories and institutions, market response has been overwhelming. In the past six months alone, SBI has approved 575 MW of rooftop solar installations, giving a huge boost to India’s nascent solar rooftop program. “SBI has developed financing models that will provide loans at a very competitive pricing with long tenor,” explained Karnam Sekar, Deputy Managing Director, SBI. “Several capacity building measures and awareness programs are also being undertaken to sensitize operating functionaries.”

THE EARLY MOVERS One of SBI’s first borrowers was Amplus Energy Solutions, a private renewable energy developer, and an early mover in the field. “World Bank-SBI financing has enabled us to borrow at 8.25 percent – down from 12 percent before,” explained Sanjeev Aggarwal, MD of Amplus. “This has helped us lower the cost of solar energy we provide our customers.”

w w w . s o l a r q u a r t e r . c o m

to catch on. While large multinational companies have begun to blaze the trail, others are lining up to follow. “Until now, it’s been a hard sell,

because

changing

mindsets takes time,” said Amplus’s Aggarwal, “But now I think the market is ready to take off.There may be blips in between, but I expect that in 3-5 years time the cost of rooftop solar power will fall to Rs. 2 to Rs. 3 per unit.” “After all,” Aggarwal adds, “This is the first time in history that every person can generate her own clean renewable electricity – be it the smallest tea shop or the largest factory or institution.”

Solar Quarter • August 2018 65

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Solar Electric Manufacturers` Association Nepal

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Solar Quarter â&#x20AC;˘ August 2018 66

Industry Insights FUTURE ROADMAP & RECOMMENDATIONS FUTURE ROADMAP

are necessary to improve project bankability.

bonds respectively, thus contributing to the Clean Energy boom in the region.

Looking in hindsight, India with ~71 GW of installed

2. Meeting Financial Demands:

renewable capacity has covered approx. a third of its tall

� GOI has taken significant policy measures (including

target set by GoI for 2022. With the concept of decentralized

classification of RE under PSL, relaxation in ECB norms,

applications such as micro and mini grids just coming into

floating of new restructuring schemes for infra as a

the fray, and RE storage and EV space unfolding, plenty

whole) in the past. However, there is still room for other

of opportunities exist in our country. India has also been

policy initiatives viz.

ranked 4th in terms of the RECAI, and has been termed as one of the ‘Big Three’ in terms of renewable investments amongst developing economies. Considering India is an economy dominated by young population, the right incubation support and requisite infrastructure support by the Government can propel India to become the next Silicon Valley for this space.

RECOMMENDATIONS

1. Increasing the Priority Sector Lending limits, currently

important role in this process

3. Increasing the Partial credit enhancement limit by

Overall, a favourable policy framework, active engagement

commercial banks to corporate bond issuance,

of both public and private entities, innovative financing

currently limited to only 20% of the issue size

mechanisms and enhanced collaboration among nations are crucial in accelerating low carbon transformation of the

however

continuous and definite stream of capital towards

development of complementary policies like phased

solar projects. Domestic markets can be further fuelled

shifting from fossil fuel, penalizing high carbon emitters

by policy mechanisms that incentivize green bonds

could be instrumental in catapulting the sector into next

in local currency and also enable built-in hedging

level of growth.

products for foreign investments. India and China have

empowered and quick dispute resolution mechanisms

facilities and vocational training institutions will play an

restricted to 7 yrs

to Priority Sector Lending in India) will enable a

� Enforcement of PPA terms to the letter and effective,

� Technical expertise and a skilled work force hold

2. Allowing long Infrastructure bond tenors, currently

Source: Frankfurt School-UNEP Centre/BNEF 2018 edition

market,

� biggest opportunity that can boost reliability of Clean

the key for scaling up the clean energy market. R&D

� Robust policy roadmap has been critical in boosting energy

energy storage remains the

limited only to INR 15 Crs per borrower.

� Dedicated green finance targets for Banks (similar

renewable

� Developing cost effective and long term solutions for

Energy as we know it

1. Formulation and Implementation of favourable policies:

nascent

3. Ramping up Technology:

global economy.

both successfully sourced capital through offshore

ENFORCEMENT OF PPA TERMS TO THE LETTER AND EFFECTIVE, EMPOWERED AND QUICK DISPUTE RESOLUTION MECHANISMS ARE NECESSARY TO IMPROVE PROJECT BANKABILITY.

transactions, especially via Green Masala and Dimsum

Credits: Yes Bank

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Images for illustrative purposes only.

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08/08/18 5:51 PM

Solar Quarter • August 2018 67

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Infographics

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Solar Quarter â&#x20AC;¢ August 2018 69

IND IND

SolarQuarter Awarded “World’s 10 Best Solar Media & Magazine” In 2018! The Only Media From Asia!

India’s 100 Most Power Premium Sponsors

Shri. R. K. Singh Minister Of Power Government of India

Shri. Jatindra Nath Swain Managing Director SECI

Mr. James Sales Head for India GoodWe

Shri. K.S.Popli Chairman IREDA

Mr. Upendra Tripathy Director General ISA

Shri. Avanish Kumar Awasthi CEO UPEDA

Shri. Pranav Mehta Chairman Elect Global Solar Council

Shri. Pankaj Batra Chairperson CEA

Shri. P.K.Pujari Chairperson CERC

Shri. Shekhar Dutt Director General SPDA

Dr. Julie Reviere Country Director GIZ India

Mr. S.N Sunkari CEO Essel Infraprojects Limited

Mr. Rajya W. Ghei CEO Hindustan Power Projects

Ms. Anjali Rattan Chairperson & CEO Rattan India Solar

Mr. Malcolm Wrigley Country Manager GDF SUEZ ENERGY INDIA PVT LTD (ENGIE)

Mr. David Zhong Vice President Sofar Solar

Mr. Hiten Girish Parekh Head-Solar Everest Industries

Mr. Punit K Goyal CEO PLG Clean Energy Limited

Mr. Sunil Gupta Mr. Chandra Kishore Thakur Head Renewable Energy President & CEO - Infrastructure & Power Business Sembcorp Green Infra Punj Lloyd Solar Limited

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Mr. Sanjeev Aggarwal CEO Amplus Energy Solutions Pvt Ltd

Mr. V. V. Kamath Managing Director Fronius India Private Limited

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Mr. Li Wenxue, President, LONGi Solar

Mr. Damian Miller CEO ORB Energy

Mr. Sameer Tirkar Mr Prashant Sinha Senior Investment Officer Head-Energy ResponsAbility India L&T Infrastructure Finance

Mr. Munjal Rangwala CEO Harsha Abakus Solar

Mr. Ishver Dholakiya Managing Director Goldi Solar

Mr. Vineet Mittal Chairman Avaada Group

Mr.Rucas Wang Regional Manager Asia Pacific, Growatt

Mr. Rashesh Shah CEO Edelweiss Group

Mr. Surender Pal Singh Chairman Premier Solar Powertech Private Limited

Shri. I.S.Jha Chairman & Managing Director PGCIL

Mr. Jayant Parimal CEO Adani Green Energy

Mr. Nitin Apte CEO Equis Energy (Vena Energy)

Mr. Rafael Benjumea CEO FRV Power India Ltd

Mr. Sameer Gupta Chairman & Managing Director Jakson Engineers ltd

Mr. Vinay Kumar P MD & CEO India Brookfield Asset Management

Mr. Vivek Subramanian, Mr. Saif Dhorajiwala & Mr. Vikas Saluguti Co-Founders Fourth Partner

Shri. Gurdeep Singh Chairman & Managing Director NTPC

Mr. Sumant Sinha Chairman and CEO ReNew Power

Mr. Naresh Mansukhani CEO Orange Renewable Power Private Limited

Mr. Ashwani Kumar CEO IL&FS Energy Development Company

Mr. R Chellappan Managing Director Swelect Energy Systems Ltd

Mr. Bikesh Ogra CEO Sterling & Wilson

Mr. Shashank Sharma Founder & CEO Sun Sure

Shri. D. Nagaraj Managing Director KREDL

Mr. Nikhil Dhingra CEO ACME Solar

Mr. Sanjay Aggarwal Managing Director Fortum India

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Associate

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Solar Quarter • August 2018 70

DIA POWER100 POWER100 MAP DIA LIST2018 2018

rful Business Leaders Co-Sponsors

Shri. Anand Kumar Secretary MNRE

Shri. Syed Abdul Aleem Chairman TSREDCO

Shri. B. K. Dosi Managing Director RRECL

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Mr. Sunil Kulkarni Mr. Anil Kumar Mr. Ashish Khanna Mr. Sunil Jain CEO Chalamalasetty CEO CEO Shapoorji Pallonji Infrastructure Founder,Chief Executive & MD Tata Power Solar Hero Future Energies Capital Company Ltd Greenko Group

Mr. Ravi Khanna CEO Aditya Birla Solar Ltd

Mr. Sushil Paliwal CEO JBM Solar

Sameer Shah Mr. Sachin Jain Co-Founder & CEO Co-Founder & Chairman Oriano Solar Oriano Solar

Mr. Hartek Singh Founder, Chairman & MD Hartek Power

Mr. Aman Mathur Managing Director Addwatt Power Solution

Mr. Brijesh Gupta CEO AMPL Cleantech Pvt Ltd (Atha)

Mr. C.S. Sunder Raju Director Atria Power

Mr. Sudhir Verma CEO Eden Renewables

Mr. Sunil Singh CEO

Mr. Rahul Dasari Co-Founder & CEO Sunshot Technologies

Mr. Shaji John Head - Solar Business L&T ECC

Mr. MS Unnikrishnan MD & CEO Thermax

Mr. Sujoy Ghosh CEO First Solar

Mr. Jitendra Singh CEO Belectric

Mr. Amit Khurana Managing Director Madhav Infra

Shri. Manu Srivastava Principal Secretary MPNRED

Dr. Vipin Sharma, IAS Director General MEDA

Mr. Inderpreet Wadhwa CEO Azure Power

Mr. Raman Nanda CEO SB Energy

Mr. Vikram Kailas Vice Chairman and MD Mytrah Energy (India)

Mr.Mr.Kapil Maheshwari J.P.Chalasani CEO Hinduja Suzlon Renewables Energy Ltd

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Mr. Moola Ramesh CEO Karvy Solar

Mr. Deepak Verma Managing Director NV Vogt Energy

Mr. Anton Milner CEO IBVogt

Mr. Prashant Jain CEO JSW Energy

Mr. Antonio Cammisecra CEO ENEL Green Power

Mr. Simon Stolp Country Lead-Energy & Extractives World Bank

Shri. Rajnish Kumar Chairman SBI Bank

Mr. Rana Kapoor CEO Yes Bank

Mr. Scott Lawrence Managing Director Canada Pension Plan Investment Board

Mr. Gyanesh Chaudhary Managing Director & CEO Vikram Solar

Mr. Ketan Mehta Managing Director Rays Power Infra

OPG POWER GENERATION

Mr. Pratyush Thakur Managing Director Stakraft BLP Solar Solutions

Shri. Ishwarbhai M Bhavsar Chairman GEDA

Mr. D.V. Manjunatha Managing Director Emmvee Photovoltaic Power

Mr. Avinash Hiranandani Managing Director Renewsys India

Mr. Hitesh Doshi Chairman & MD Waaree Energies

Mr. Mukesh Sharma Director Adhyan Projects

Mr. Vikalp Mundra Joint MD & CEO Ujaas Energy Ltd

Mr. Joerg Gaebler Principal Advisor

Indo-German Energy Programme

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Mr. Jun Zhang Country Manager International Financial Corporation

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Solar Quarter â&#x20AC;¢ August 2018 71

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Solar Quarter â&#x20AC;˘ August 2018 74