SolarQuarter- India June-July Issue 2022

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W W W S O L A R Q U A R T E R C O M India June July 2022 VOLUME 14 | ISSUE 4

STATE BUSINESSMEET RAJASTHAN AWARDS2022 STATE LEADERSHIP MADHYAPRADESH AWARDS2022 CONTENT 59, 61THE CHAMPIONS CORNER | 14 Srinivasan Viswanathan CEO, Vibrant Energy GoodWe Growatt LONGi Solis Fimer Fimer Kehua Tech GoodWe Saatvik EKI LONGi Sungrow Trina Solar Trina Solar Tata BlueScope Steel NEWS Policy & Regulatory Updates Brief on India International Relations Green Hydrogen Buzz04 06 Appointments Current Affairs Tender Updates Think Tank News 40 42 43 44 53 54 55 56 58 45 46 47 48 50 52 Policy Debrief Policy Analysis Technology Insight SOLARQUARTER RESEARCH 24 27 28 Ancillary Services from VERs ESG The Drive towards Net Zero Energy Management in New India, New Times, and New Challenges How Storage Integrations Can Provide A Strategic Benefit in Large Scale Solar Projects and Create Synergy? How Green Energy Open Access Rules, 2022 will catalyze solar adoption in India? Elevated PV Cell Prices Hardening Interest Rates And Re Depreciation Against Dollar Likely Headwinds For Solar Power Developers In The Near Term Replacement Of Thermal Power With Renewables By 2025 Ambitious or Achievable? Cyclonic Adversities to Deteriorate Photovoltaics in West India OPINION PERSPECTIVE FEATURED INSIGHT 29 30 32 33 34 36 38 Pankaj Pandey Manish Dhuria Li Jianfei Pradeep Kumar Head Community based Projects, EKI Energy Services Ltd Sales Head North India Krannich Solar CTO/VP SINENG MD LONGi Solar India 16 18 20 22 Ibrahim Kadriinamdar Prashant Mathur Brijesh Prajapati Piyush Nahar Sales Head Western & Central Region GoodWe India CEO, Saatvik Green Energy Managing Director India Shenzhen Sofarsolar Co Ltd General Manager LYSAGHT® Business Tata Bluescope Steel 17 19 21 23 W W W S O L A R Q U A R T E R C O M Smriti Charan Sangeeta Sridhar advertise@firstviewgroup com Sadhana Shenvekar Vaibhav Enterprises ADVERTISING CIRCULATION PRINTING Firstview Media Ventures Pvt Ltd Ashwini Chikkodi Nikita Salkar editorial@firstviewgroup com Sadhana Shenvekar Sangita Shetty Rajarshi Sengupta publishing@firstviewgroup com Radha Buddhadev Neha Barangali design@firstviewgroup com PUBLISHING EDITING CONTENT DESIGNING FEATURED TALKS IN CONVERSATION PRODUCT CFEATURE OMPANY FEATURE PROJECT FEATURE

CERC allows Delayed Application For Issuance Of REC To Grace Infrastructure And Leo Fasteners CERC Extends Electricity Exchange Quoted Price Cap To Rs 12/KWh Till 30th Sep 2022 CERC Rejects ACME Solar’s Claim For Transmission Charges Waiver & Extension Of Schedule Commissioning Date Maharashtra Commission Approves Revised Tariff Of Rs 2 56/Kwh For 300MW Wind Solar Hybrid Project Karnataka Commission Approves Reduced Tarif Rate Of INR2 77/Kwh For KSEBL’s 90MW Solar Power Procurement From NTPC Ltd KERC Extended Existing Wheeling Charges And Banking Facility For Renewable Projects Till 31st July 2022 KERC Directed BESCOM To Compensate Solar Developer On Account Of Delay In Wheeling And Banking Agreement Approval WBERC Approves 100MW RTC Solar Wind Hybrid Power Purchase From SECI At Rs 2 90/Kwh Haryana Electricity Regulator Approves Power Sale Agreement (PSA) For 800MW Hybrid Wind Solar Power Procurement From SECI Kerala Distribution Company Requests Commission For Inclusion Of Gross Metering And Net Billing Policy & Regulatory Updates Brief on India-International Relations POLICY NEWS REGULATORY UPDATES Central Regulatory Updates: State Regulatory Updates INDIA NEWS Gujarat Gets 1,242 Cr MNRE Aid for Solar Projects in FY 22 Centre To Lift Curbs on CPSEs’ Renewables Imports from China Assam Aiming At Meeting 50 % of Power Demand Through Solar Energy By 2026 Over 50,000 ‘Suryamitras’ Trained Under Skill Development Programme: MNRE Gujarat Govt Decides To Allot 6000 Hectares Wasteland For Renewable Energy Park West Bengal Eyes 20 % Renewable Energy by 2030 30% Agri Feeders in Maharashtra to Run on Solar Power in Next Six Months: Dy CM Fadnavis REC Partners with CEEW to Improve the Performance of DISCOMS Punjab To Be Renewable Energy Efficient: Minister Aman Arora Bhagwanth Khuba Assures Constant Support to IREDA in Funding Renewable Energy Projects JERC Issues Renewable Energy Buy Obligation 2022 for Jammu & Kashmir and Ladakh NMDC Looking to Set Up Solar Plants in Telangana: Chairman Deb IREDA To Increase MSME’s Participation in Renewable Energy By Offering More Loans Ernakulam Dairy Set To Become Nation’s First Fully Solar Powered Plant: Union Minister Jharkhand Launches New Solar Policy, Aims To Achieve 4,000 MW Solar Capacity in Next 5 Years Chandigarh To Have 10 Solar Plants by August 2023 Jharkhand To Unveil New Solar Policy Targeting To Generate 4,000 MW in 5 yrs Cabinet Approves MNRE & IRENA’s Strategic Partnership Agreement On Renewable Energy PFS Partners with GGGI To Set Up Renewable Energy focused Infra Fund Anti dumping Duty Imposed on Fluoro Backsheets Excluding Transparent Backsheet AC Approves Roll Out Of Rooftop Solar Scheme In Jammu And Kashmir Assam Govt To Set Up 1,000 MW Solar Power Plant with NLC India Ltd Assam Govt To Collaborate with SJVN for Development of Renewable Energy Projects Ministry Issues Notification on Late Payment Surcharge and Related Matters Rules, 2022 Power Ministry Issues Green Energy Open Access Rules, 2022 POSOCO Responsible for Single Window Clearance for Green Energy Open Access NTPC Inks MOU with Moroccan Agency for Sustainable Energy for Cooperation in RE Sector Piyush Goyal Calls For Deepening Trade Ties with Africa; Exploring Solar Energy ACME, Yara, and Scatec Sign Term Sheet for Sale of Green Ammonia from Oman JUN JUL ISSUE 2022 | PG 04| INDIA

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Green-Hydrogen Buzz AppointmentsCurrent Affairs INDIA NEWS Indian Renewable Energy Firm GreenZo Energy to Develop 50 MW Green Hydrogen Capacity in Nepal NTPC REL Inks MoU with GACL to Collaborate in Renewable Energy and Synthesize Green Chemicals NTPC REL Inks MoU with NFL to Collaborate in Renewable Energy and Synthesizing Green Ammonia ACME Group Announces Rs 52,474 Crore Green Hydrogen and Ammonia Project in Tamil Nadu Green Hydrogen Critical to India’s Net Zero Ambitions Says NITI Aayog, RMI Report PTC India and Greenstat To Collaborate On Green Hydrogen Projects ACME To Set Up 51,865 Crore Green Hydrogen Unit and Allied Solar Power Plant in Karnataka Tender Updates KMF Invites Bids For 100 MW Solar Project Under Group Captive Model BREDA Invites Bids to Set Up Solar Module, Lithium Battery Manufacturing Units in Bihar DHBVN Invites Bids for 26 43 MW of Solar Projects Under KUSUM A Program in Haryana GUVNL Invites Bids For Procuring Power From 750 MW Solar Projects With Greenshoe Option HPGCL Invites Bids For 121 MW Solar Power Projects Development JAKEDA Floats Tender For 200 MW Rooftop Solar Systems Installation In Jammu JREDA Tenders 18 MW Solar Power Project Development At Giridih Solar City KGPCL Issues 1.15 MW Floating Solar Tender in Karnataka MEDA Invites EoI To Set Up 10 MW Of Rooftop Solar Systems On Government Buildings MPUVNL Tenders For 35 MW of Grid connected Rooftop Solar System MSEDCL Floats Tender To Procure 1000 MW of Solar Power in Maharashtra MSPGCL Invites Bids for 105 MW Grid connected Floating Solar Project PJTSAU Invites Bids for 1 MW Rooftop Solar System in Telangana UGVCL Invites Bids for Feeder Level Solar Power Plant under KUSUM C in Gujarat UPNEDA Floats Tender For 38 MW Residential Rooftop Solar Installations SECI Invites Bids For Setting Up 30 MW Floating Solar PV On DVC Reservoirs SECI Floats Tender For Supply Of 1680 MW of Solar Modules Bangalore Metro Rail Floats 20 MW Grid connected Rooftop PV Tender BHEL Tenders 10 27 Million Mono PERC Solar Cells Supply BPCL Issues Expression of Interest for Commissioning of 5 MW Green Hydrogen Facility HPCL Invites Bids for 2 39 MW of Solar Projects at 13 Locations Chidambaranar Port Authority Tenders 5 MW Solar Power Project Installation CPWD Tenders 1 65 MW Rooftop & Ground Mounted Solar Systems For IISER HPCL Tenders Consultancy For 100 150 MW Hybrid Wind Solar Project With BESS Indian Railways Invites Bids To Procure 1 GW Renewable Power NTPC Floats Tender For Supply of Bifacial PV Modules for 735 MW Solar Project NTPC Invites Bids For BoS Of 500 MW Solar Project In Bhadla, Rajasthan NTPC Invites Bids on Behalf of ISA for Solar Cold Storage at Senegal, Djibouti, Sudan and Seychelles NTPC Limited Tenders for 500 KW of PV Modules at Port Blair NTPC Renewable Floats EPC Tender For 200 MW Grid Connected Solar Project In MP Rail Coach Factory In UP Invites Bids For The O&M Of 3 MW Solar Projects Think Tank News

IndiaNeedsUSD15BillionFundingToSetUp15GW

India’sRenewableEnergyCapacityat114GWTill June-end India’s renewable energy capacity (excluding large hydro) stood at 114 07 GW till June end this year, while 60 66 GW of projects is under various stages of development India has set a target of having 175 GW of renewable energy capacity, including 100 GW of solar and 60 GW of wind energy, by 2022 “Against the target of achieving 175 GW of Renewable Energy (excluding Large Hydro) installed capacity by 2022, a total of 114 07 GW renewable energy capacity (excluding large hydro) has been installed in the country as on June 30, 2022,” Minister of State for New and Renewable Energy Bhagwanth Khuba said in a written reply in the Rajya Sabha. Further, h 60 66 GW is under various stages of i 14 GW capacity is under various stages of b

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GreenHydrogenCapacityby2030:NITIAayog India will need funding of $15 billion to set up 15 GW of Green Hydrogen capacity by 2030, said NITI Aayog Member V K Saraswat. He was speaking at a conference ‘India@2030: A Roadmap for Aatmanirbhar Bharat in Renewable Energy’ organized by CII The NITI Aayog member also suggested certain measures to reduce the cost of green hydrogen Saraswat said that “for the price of green energy to come down to USD 1/kg, 80 percent reduction in the cost of electrolyzer is needed electricity cost has to slash to 2 cents per kWh (kilowatt hour), electrolyzer plant life must increase to 20 years and electrolyzer efficiency must increase by 76 percent ” Kapil Maheshwari, President, New Energy, Reliance Industries Limited had recently told PTI that India is already a market of 6 7 million tonnes of green hydrogen.

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With the national capital recording a rise in the registration of electric vehicles, some environmentalists raised doubts about whether the transition to EVs will actually help fight the global climate crisis in the long run and said there is an urgent need to opt for renewable energy alongside it Since electric vehicles rely on regular charging from a local electricity network it is quite obvious that coal is being used at another source, one of them said According to official data, there are 1,39,945 registered electric vehicles in Delhi as of March 21, 2022 This year electric vehicles accounted for more than nine percent of all vehicles registered in the national capital, up from nearly three percent in 2018 Though electric vehicles are expected to cut oil consumption and lower carbon dioxide emission, they said it alone will not help fight the global climate crisis There is an urgent need to ensure 100 percent renewable energy alongside electric vehicles to tackle the climate crisis, Greenpeace India’s Avinash Chanchal said India has been witnessing an acute power shortage, primarily due to the disruptions in the supply of coal, a spike in the price of imported coal for coastal plants, and high prices on the power exchange. Recently, the energy deficit has reached up to five percent at the national level, with some states witnessing even more deficit For the country, to address its deepening power crisis, a transition from the conventional source of energy like fossil fuel to alternate sources like solar and wind has become imperative One of the major renewable energy technologies that can play a key role in replacing the conventional sources of energy and ensuring power sufficiency is rooftop solar Installation of the rooftop solar plant can not only assure uninterrupted power supply but may also bring down the electricity bill of the consumers and helps the government to achieve its sustainable development goals (SDGs) as committed in the Paris Agreement

RenewablePowerRemainsCost-CompetitiveAmid FossilFuelCrisis:IRENA

Think Tank News JUN JUL ISSUE 2022 | PG 08| INDIA

MSMERequireLeastInvestmentToGoGreen:BEE

According to ICRA, the cost pressure is being created by the increase in solar PV modules and solar cells prices as well as the introduction of the Basic Customs Duty (BCD), effective April 1, which will result in solar power projects aggregating 4 4 GigaWatts (GW) according to ICRA These are projects that were awarded in the past 12 18 months, according to the rating agency The price of solar PV modules (mono PERC) has increased by more than 40% to USD 27 28 cents per watt over the past 18 months This is primarily due to disruptions in production in China, and an increase in the cost of polysilicon, which is a key input for module manufacturers Icra reported that the cost pressure on projects exceeding 4.4 GW is severe This represents around 12 percent of all projects currently under execution in the country

ToAvertPowerCrisis,IndiaShouldAggressively AdoptRooftopSolar

SolarProjectsSeeingCostPressureDuetoElevated Cell,ModulePrices,andIntroductionofBCD:Report

Costs for renewables continued to fall in 2021 as supply chain challenges and rising commodity prices have yet to show their full impact on project costs. The cost of electricity from onshore wind fell by 15%, offshore wind by 13%, and solar PV by 13% compared to 2020 Renewable Power Generation Costs in 2021, published by the International Renewable Energy Agency (IRENA), shows that almost two thirds of 163 gigawatts (GW) of newly installed renewable power in 2021 had lower costs than the world’s cheapest coal fired option in the G20. IRENA estimates that, given the current high fossil fuel prices, the renewable power added in 2021 saves around USD 55 billion from global energy generation costs in 2022 IRENA’s new report confirms the critical role that cost competitive renewables play in addressing today’s energy and climate emergencies by accelerating the transition in line with the 1.5°C warming limit and the Paris Agreement goals

NeedtoEnsure100%RenewablesAlongsideElectric VehiclestoTackleClimateCrisis:Experts

INDIA NEWS

India’sRenewableEnergySectorHasPotentialto Employ10LakhIndividualsby2030:IREDA

The country’s renewable energy sector has the potential to employ 10 lakh individuals by 2030 IREDA Chairman & Managing Director Pradip Kumar Das said “India’s RE sector could potentially employ around 10 lakh people by 2030, which would be ten times more than the existing workforce of an estimated 1 1 lakh employed by the sector,” he said delivering the keynote address at an event on Renewable Energy Management for Cooperatives More than 90 percent of RE projects have come up in rural areas, resulting in the development of the rural economy

According to a senior official, the Bureau of Energy Efficiency (BEE), small and medium sized businesses are a priority because they require minimal investment in order to transition to cleaner energy sources Abhay Bakre, Director General of BEE, praised MSMEs for their responsiveness, flexibility, and the high skilled and low investment required to transition to green energies He stated that the MSME sector was a top priority for them and that whatever they do for it, would help India transition to clean energy World Resources Institute India (WRII), in association with Institute for Sustainable Communities, organized the conference India cannot achieve net zero emission by 2070 without meeting the energy needs of its 63 million small and medium sized businesses WRII CEO OP Agarwal stated that solutions for this sector would make them more competitive globally as multinational corporations continue to look to decarbonize their supply chains

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The beginning of the greatest energy crisis in modern times was witnessed in the second half of 2021 This was exacerbated by Russia’s invasion of Ukraine in early 2022 and a global commodity shock that was unprecedented The solar open access installations in India grew by 22 percent to 513 megawatts (MW) in January March 2022 according to a report by Mercom India The cumulative solar open access capacity in open access markets was more than 5 7 GW as of March 2022 Open access to solar power is an arrangement in which a power producer sets up a solar power station and then signs a medium/long term power purchase agreement with the consumer. To further accelerate India’s renewable energy programs, the government notified the Green Open Access Rules 2022 These rules will be notified to promote the purchase, generation, and consumption of green energy, including waste to energy plants The Ministry of Power stated that it allows for a simplified process to open access to green energy. As of March 2022 the cumulative installed solar capacity in the open access market was over 5 7 GW, the report said, adding that over 2 GW capacity of open access solar projects was under development in the country during the said period

SolarTariffsToIncreaseByOne fifthOverTheNext Year:IEEFA

The solar open access installations in India grew by 22 percent to 513 megawatts (MW) in January March 2022, according to a report by Mercom India The cumulative solar open access capacity in open access markets was more than 5 7 GW as of March 2022 Open access to solar power is an arrangement in which a power producer sets up a solar power station and then signs a medium/long term power purchase agreement with the consumer To further accelerate India’s renewable energy programs, the government notified the Green Open Access Rules 2022 These rules will be notified to promote the purchase, generation, and consumption of green energy, including waste to energy plants. The Ministry of Power stated that it allows for a simplified process to open access to green energy As of March 2022, the cumulative installed solar capacity in the open access market was over 5 7 GW, the report said, adding that over 2 GW capacity of open access solar projects was under development in the country during the said period A rising commodity price and the imposition of a new tax on imported solar modules will likely push up solar tariffs by more than one fifth in the coming year, according to a report from JMK Research and Institute for Energy Economics and Financial Analysis (IEEFA) The price and performance are key factors in project costs and, consequently, in bidders’ bids for solar auctions Module prices have risen due to rising freight costs and key raw material prices Higher tariffs were discovered at solar auctions in early 2021 The lowest winning solar bids between January 2021 and March 2022 have increased by an average of 22%, relative to India’s record low solar tariff of Rs1 99 per kilowatt hour (kWh) (~US$0 03/kWh) in December 2020. The report projects that solar tariffs will climb even further following the recent imposition of a basic customs duty (BCD) of 40% and 25% on imported solar modules and cells respectively and the implementation of the Approved List of Models and Manufacturers (ALMM) The report urges central and state government regulators to make a joint effort to address these policy hurdles by providing more clarity, for example, on how long BCD will be applicable on imported modules and whether the duty will increase or decrease on a year on year basis

AuctionWouldLowerCostsandBoostRenewable

EnergySectorinIndia:IEEFA IndiaRanks3rdGloballyforTotalRenewable Additionsin2021:Report IndiaRanks3rdGloballyforTotalRenewable Additionsin2021:Report

The global solar district heating market is predicted to grow over the forecast period, as technology is a cost effective and environmentally responsible way of providing heat and energy. Solar thermal is expected to meet 15 20 percent of worldwide district heat demand by 2022, according to studies The solar district heating market trends indicate that the industry will rise as more public and private actors participate in infrastructure development, as well as the lower operating and maintenance costs of solar district heating (SDH) systems. Their environmentally benign nature, combined with low greenhouse gas emissions and simplicity of access, will impact product uptake favorably In addition, strong energy efficiency standards and rules are being implemented to help the sector expand

According to a report by the Institute for Energy Economics and Financial Analysis (IEEFA), major developers in the sector of renewable energy have plenty of options to increase their returns, despite the challenges They will also aggressively compete in the auctions set for 2022 Falling tariffs have resulted in renewable energy capacity in India increasing by nearly 10 fold in the last decade from 12 gigawatts (GW) in 2010 to around 110GW in March 2022 Over the years, alongside tariffs, ROE expectations have also fallen From a must have 18% threshold, the ROE expected now hovers around the 12% mark, says the report However, fresh challenges have emerged for the sector. Global supply chains have been in tatters lately due to the disruption caused by the pandemic and, more recently, the Russia Ukraine war

INDIA NEWS

Both wind turbine generator producers and solar module manufacturers have been hiking prices as materials, freight, and labor needs coming out of the pandemic and geopolitical risk weigh down on critical raw material prices. Fresh trade barriers have emerged with the imposition of a basic customs duty (BCD) on the import of solar modules and cells in India To top it all, sharp, seemingly uncontrollable inflation is making global central banks suck out the system’s liquidity, leading to a steep increase in interest rates According to the global status report, India was third in renewable energy installations for 2021 after China and Russia According to a report titled Renewable Energy 2022 Global Status Report, published by REN21 (Renewable Energy Policy Network for the 21st Century), India had installed 15.4 gigawatts of renewable energy projects in 2021 REN21’s Renewables 2022 Global Status Report (2022 GSR) warns that the global clean energy transition is not taking place and that it is unlikely that the world can meet its critical climate goals in this decade

SolarOpenAccessAdditionsGrow22%inJan Mar; CumulativeCapacityHits5.7 GWMark:Report

Think Tank News JUN JUL ISSUE 2022 | PG 10| INDIA

PromisingProspectsinSolarDistrictHeatingMarket, FMIReportExpectsModestGrowthat7%CAGR

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Project Updates INDIA NEWS India’s Largest Floating Solar Power Plant Becomes Operational in Telangana Azure Power’s 90 MW Solar Power Project in Assam Inaugurated by Chief Minister of Assam Ingeteam Starts To Manufacture Its First Orders For The Green H2 Sector SunEdison Partners with ARKA Energy to Bring to India Solar Solutions That Expand Living Spaces in Style NTPC and Indian Oil Sign Agreement for Powering IndianOil Refineries with Renewable Energy PTC India Inks Pacts with 5 Companies To Provide Technology based Solutions to the Indian Power Market GVMC Commissions 3 MW Floating Solar Plant on Meghadrigedda Reservoir in Visakhapatnam Torrent Power To Increase Renewable Energy Capacity Via Acquisitions, New Bids Tata Power to Train 3,000 Youths To Work in Renewable Energy Sector Tata Power’s TP Saurya Receives LoA for 600 MW Solar Wind Hybrid Project for SECI at Karnataka SJVN Inks EPC Pact Worth Rs 690 Cr with Solarworld Energy for 125 MW Solar Projects in UP WBERC Approves Power Usages Agreement Of 100MW Solar Power Between DVC and NTPC REL Tata Power DDL Adopts New Brand Philosophy To Focus on Green Energy PFC, JBIC Sign JPY 30 Billion Loan Agreement to Support Clean Energy Projects Azure Power Becomes The First Renewable Energy Company in India To Be SA8000 Certified India’s Largest Floating Solar Project NTPC Ramagundam Accomplished Using Saatvik Solar PV Modules Tata Power Signs MoU Worth Rs 3,000 Cr with TN Govt to Set Up Solar Manufacturing Unit NTPC Arm To Develop 10GW Renewable Energy Park in Rajasthan NTPC GE Power to Build Balance of Systems for 325 MW Solar Projects in Madhya Pradesh Ciet & Terre India Completes 73.4 MWp of India’s Largest Floating Solar Plant Skyfri Group Bags Contract to Operate 31 MW(DC) Floating Solar Project in Kerala NTPC Commissions Last Part of 100 MW Ramagundam Floating Solar Project ReNew Partners UNEP, SEWA To Train Women Salt pan Workers To Work in Renewable Industry Prozeal Infra Awarded 843 Cr Solar EPC Project from GSECL Apraava Energy Completes Solar Electrification Projects in Villages of Madhya Pradesh Tata Power Solar Commissions India’s Largest Floating Solar Project of 101 6 MWp in Kerala Backwaters Ornate Solar Commissions India’s Largest Roof integrated Solar System TEDA To Set Up Solar Powered Charging Station at Tamil Nadu Secretariat NTPC Begins Commercial Operations of 15 MW Solar Capacity at Kawas Solar Project The Honorary Consulate General of Montenegro in India Goes Solar with HomeScape by Amplus Solar Tata Power Solar Commissions 66 MW EPC Project for Vibrant Energy Kochi Metro To Set Up Solar Plant in Kasaragod Volvo Car India Sets Up Solar PV Systems At Primary Health Centres in Haryana, UP Mumbai International Airport Launches First Of Its Kind Wind Solar Hybrid Power Project FoxESS Signs Distributor Agreement With Redington India Petronas, Microsoft Enter Agreement for 100 MW Solar Project in Rajasthan Azure Power Ties Up with India’s Premier Energies Group for Solar Modules and Cells Rajasthan Allots Land to Adani Firm to Set Up 1000 MW Solar Project Axis Energy Commissions 445 MW Solar Plant in Rajasthan APM Terminals Pipavav Commissions 1000 kW Captive Solar Rooftop System at Mumbai Port Brookfield Renewable Commissions Its First Greenfield Solar Project in India O2 Power Commissions 250 MW Solar Project in Bikaner Tata Power Solar Commissions 450 MWDC Solar EPC Project for Brookfield Renewable in Rajasthan Investments, M&A Deals Updates ReNew Becomes First Indian Renewable Energy Company To Refinance Dollar Denominated Bonds NTPC Aims to Raise Rs 5,000 Crore via Stake Sale in Green Arm Tata Power Plans a Capex of Over Rs 75000 Crore in Next 5 Years in Renewables World Bank Provides $165 Million to Support Renewable Energy in India’s Residential Sector PAG Launches PAG Renewables, A New Platform for Renewable Energy Investment Karnataka Govt Signs MoU with Petronas Hydrogen, Continental Automotive for Investment of Rs.32,000 Cr JSW Steel To Invest Rs 10000 Crore To Boost Use of Renewable Energy, Reduce Emissions Brookfield Raises Record $15 Billion For Global Transition Fund $223 Billion Investment Needed For India To Meet 2030 Wind And Solar Goals: Report Global Energy Investment To Rise by 8% in 2022 to Reach USD 2 4 Trillion: IEA Uttar Pradesh Gets Investment Proposals in Clean Energy worth Rs 4782 Crore India Requires An Investment of Rs 4 Lakh Cr To Execute 113 GW of RE Projects Pipeline Ayana Renewable to Invest Rs 12000 Crore in 2 GW RE Projects in Karnataka Syngene International To Acquire 26% Stake in Ampyr Renewable Energy Resources Eleven CCI Approves Shell’s Acquisition of Renewable Energy Firm Solenergi Power Hindalco To Buy 26 % Stake in Renewable Firm Cleanwin Energy SIX Biocon Acquires 26 % Stake in AMPYR Renewable Energy Resources Eleven Ontario Teachers’ Pension Plan To Buy 49% Stake in Mahindra Susten GMR Power and Urban Infra Acquires 100% Stake in GMR Green Energy TotalEnergies To Acquire 25 % Stake in Adani Group’s Green Hydrogen Venture Torrent Power Acquires 50 MW Solar Plant From SkyPower Group For Rs 416 Cr in Telangana Tech Mahindra to Acquire 26% Stake in Huoban Energy To Procure 5 MW Solar Power JUN JUL ISSUE 2022 | PG 12| INDIA

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Vibrant Energy is determined to deliver green energy solutions to the Corporate & Industrial (C&I) sector through the open access route Vibrant Energy is actively developing several wind solar hybrid projects that can deliver inter state renewable energy through Vibrant Energy’s ISTS wind and solar parks

Srinivasan Viswanathan EO, Vibrant Energy

Over the last couple of months, we are witnessing significant reforms introduced to expand the market from a traditional reverse auction utility tender market to more of a market based global approach The new reform announcements encouraging ISTS renewables, opening green open access, and expanding the green hydrogen market are some key notable ones These are good beginnings but we need a collective and collaborative effort from the central government, central and state regulatory commissions, transmission operators, discoms, and industry participants to achieve the joint vision of 500GW by 2030

Vibrant Energy was founded in 2016 Since its inception, Vibrant is determined to deliver green energy solutions to the Corporate & Industrial (C&I) sector through the open access route Over the years Vibrant Energy has been delivering consistent savings and sustainable energy to marquee clients in the FMCG, Pharmaceutical, and Manufacturing sectors

The C&I sector will spearhead the much needed change of making the energy markets real time and delivering round the clock renewables HIGHLIGHTS

What has been the behavioral change toward solar panel installation observed in the past 5 years?

ONVERSATION

JUN JUL ISSUE 2022 | PG 14| INDIA

What has been the funding received so far? How has the business grown?

We are witnessing a tectonic shift in the way the C&I sector is looking to consume 100% renewable energy and expect the C&I open access sector to be over 10GW annually On a per capita basis, India is still much lower than China and its Western counterparts If we are going to achieve the $5 trillion dream and 50% renewables by 2030, we are going to witness new energy needs only being met by round the clock renewables The C&I sector will spearhead the much needed change of making the energy markets real time and delivering round the clock renewables. Added to this the C&I sector is not only gearing to consume 100% renewable energy but also consuming a high percentage of sustainable fuels like green hydrogen and green ammonia Vibrant Energy has an active portfolio of operating assets structured under the Group Captive Model."

The renewable energy sector in India saw a huge headstart after 2014 due to the aggressive tenders we witnessed from SECI for utility bids and liberation of the open access with initiatives from the states of Andhra Pradesh, Telangana, and Karnataka Over the last five years, while we are registering decent growth in the utility and C&I markets, the total annual capacity additional far lower than the required 30 50GW per year to achieve the 2030 target of 500GW India has marked its leadership in being one of the most attractive sustainability markets in the world by committing a reduction of 1bn MT of GHG emissions by 2030 which requires 50% of India's energy needs to be met by renewables

India has crossed the milestone of 100 GW installed renewable energy capacity this year.

access, Vibrant Energy is actively developing several wind solar hybrid projects that can deliver inter state renewable energy through Vibrant Energy’s ISTS wind and solar parks. As a portfolio company of Macquarie GIG, Vibrant Energy is well funded to deliver its commitments and has a business plan to be one of the leading C&I focused India platforms with more than 2GW of projects in 2 3 years In terms of operations, Vibrant Energy provides wind, solar or wind solar hybrid energy to corporate clients in 9 key states namely Maharashtra, Karnataka, Madhya Pradesh, Uttar Pradesh, R j th G j t T il N du, Andhra Pradesh, a he intra state open

Group Captive power is a business model where consumers make increased economic savings by investing at least 26% equity in the project SPV Vibrant Energy has an active portfolio of operating assets structured under the Group Captive Model This is the most cost effective model because Vibrant Energy takes responsibility for all the capital costs and delivers power on an opex basis The actual infusion of 26% equity investment ensures that the customer qualifies as a group captive consumer and hence can benefit from the cross subsidy surcharge exemption. Additionally, Vibrant Energy is heavily focused on the customer and hence it provides an active support team that helps the customer meets all regulatory permits like ABT meters, etc

Vibrant Energy, a portfolio company of Macquarie GIG operates on a standalone basis with 132MW of operational capacity in the states of Andhra Pradesh, Telangana, and Maharashtra Vibrant has a total has 915MW of Assets Under Management (Operational + Under construction + Commitments) and over 2GW of pipeline empowering C&I consumers to meet their 100% renewables commitment and sustainability goals Vibrant Energy has significant development in the areas of wind solar hybrids and round the clock renewables While delivering on this growth of the C&I sector, Vibrant Energy adheres to the best institutional standards of corporate governance, WHSE, social responsibility, and transparency in every project we undertake Please tell us how Vibrant Energy's journey has been since its inception. Could you brief us about the Group Captive model solution that you provide and its benefits?

What do you think is the future of the round the clock energy solution in India?

IN CONVERSATION

Pankaj Pandey

Each project is developed post extensive research and development to ensure that its drives EKI’s aim of enabling the planet to a net-zero future." "EKI has been working towards building a sustainable planet with a deep focus on community development."

Water Filter Projects Providing easy access to reliable sources of safe water that is critical for the good health of the community LED Projects We are in the process of developing an end to end project that will enable the distribution of energy efficient LED b lb l villages with an aim t lighting options EKI shares my vision of building a sustainable tomorrow It is therefore an absolute delight to work with some of the best minds in the industry on the common cause of enabling a greener future through climate action and sustainable development for the community at large I lead the team here to champion strategic carbon projects that help uplift the community while also enabling the restoration of nature and strengthening the backward integration of the carbon credit supply chain Each project is developed post extensive research and development to ensure that its drives EKI’s aim of enabling the planet to a net zero future These include We continue to innovate more such projects that offer multiple social and economic benefits and offer sustainable community development Becoming a responsible and mindful consumer while also enabling the development of building a sustainable tomorrow is a communal responsibility and each of us needs to come together to do our bit for planet Earth as there is no planet B. What other initiatives is EKI planning to come up with in the near future? Anything else that you would like our readers to know? I have 15+ years of experience in enhancing the organizational reach and market share through strategic business planning and innovative business development concepts I specialize in revenue acceleration, pricing sciences and the implementation of robust business strategies Prior to EKI I was with CG Power & Industrial Solutions Ltd (erstwhile Crompton Greaves) Please give us a brief background of yourself and your professional experience Tell us how EKI Energy is focusing on the upliftment of community projects. How has your experience been with EKI? What have been some key developments under your expert guidance?

In an interesting conversation with SolarQuarter India magazine, Pankaj Pandey, Head Community based Projects, EKI Energy Services Ltd briefed us about his experience, the key developments in EKI and how the company is focusing on the upliftment of community projects

CONVERSATION HIGHLIGHTS JUN JUL ISSUE 2022 | PG 16| INDIA

Cookstove Project We launched the Green Cooking initiative to replace the smoke emitting traditional mud/three stone fire cook stoves with Improved cook stoves (ICS) that are safer and also fuel efficient Nature based Solutions We champion the implementation of nature based solutions to offset carbon emissions

FEATURED TALKS Head Community based Projects, EKI Energy Services Ltd.

Environmental Sustainability through GHG emission reduction and Nature conservation Social Sustainability through improved livelihood, life quality and community health & safety Economic Sustainability through the development of local economy, improved community livelihood, reduction of rural household expenditures for fuel, wood, healthcare etc.

Since its inception, EKI has been working towards building a sustainable planet with a deep focus on community development These projects of EKI enable:

The solar power business in India is mollycoddling The opportunity in this sector is dynamic and extolling Every person in this country today has a well economic space to edify his/her solar business without thinking of capital and ancillary expenses. Evading figures it’s well known that India today walks on a red carpet in the worldwide gala of the solar Sector The future will be completely energy driven like each segment will need cost effective uninterrupted energy to run the business E Mobility, Telecommunication, IoT based infrastructure, etc need energy round the clock and this is the segment where individuals can contribute by working in the renewable energy segment There are opportunities to become distributors to sell Solar Products, Develop & own solar projects, independent solar consultants, and sell aftermarket products to those who have already solar plants Also, discuss with industry experts to know more about the Solar Industry

I feel good when I interact and listen to customers carefully, that gives me more insights into their needs I worked closely with a lot of clients in Automobiles, textile, IT, Hospitality, and government segment wherein I enjoyed explaining the importance of choosing the right inverter technology that gives maximum benefits in the long term This approach has given good revenue for the company to move towards profitability

What are your plans for expanding the business in the next couple of years? Any piece of advice you would like to give to youngsters entering the solar industry

Solar energy has become a more viable option for consumers and businesses as the technology has advanced and the improved efficiency of solar modules I see a lot of demand in commercial and utility projects, where I would be doing focused activities to get the momentum for GoodWe 225KW and 250KW HT inverters in the India Market We have cumulative 600MW projects in the funnel for the year 2022 Gradually, we are developing our network to penetrate our hybrid storage inverters to cater the future demand.

With over 14 years of experience in Strategic Sales Planning & Solar EPC Business Development, Revenue Growth/ P&L Management, and Channel & Dealer Management for the Solar PV inverter and PV module business in India, I am an expert working closely with the CEO and CXOs of the company and decision makers to make them aware of the benefits of the technology and the long term sustainable business Exploring the Govt Nodal Agencies, DISCOMS, and corporates to offer them Solar PV solutions by supplying Solar Inverter PV Modules for their pants as well as supported after sales service activities Give us a brief introduction of yourself and your experience in the solar industry.

CONVERSATION HIGHLIGHTS

JUN JUL ISSUE 2022 | PG 17| INDIA

"GoodWe has a complete inverter portfolio to address the Indian market."

FEATURED TALKS Sales Head Western & Central Region GoodWe India

Ibrahim Kadriinamdar

The Asia Pacific is expected to dominate the global inverter market between 2022 2027, followed by North America and Europe. The inverter market in the Asia Pacific is witnessing significant developments in the renewable energy sector due to increased initiatives toward climate change and net zero targets, which has supported the demand for inverters across countries of the region How do you see India's inverter market has evolved over the years? How do you see inverters evolving in the coming years?

What has been your biggest professional achievement so far?

The inverter is a key element of the solar power plant, and GoodWe offers a reliable inverter with the best and most robust technology for long term plant operation The inverter capacities are upgraded to match the PV module requirement.

Technological advancements are a continuous activity and evolving based on demand We see a lot of demand for energy storage solutions and the government also aligned with its policies to motivate the BESS segment. GoodWe has a complete inverter portfolio to address the Indian market Our on grid inverters are BIS approved

SolarQuarter India magazine had a chat with Ibrahim Kadriinamdar, Sales Head Western & Central Region GoodWe India and learned about his experience and professional achievements He also spoke about the evolution of India’s inverter market over the years, business expansion plans and what advice he would like to give to youngsters entering the solar industry We have cumulative 600MW projects in the funnel for the year 2022. Gradually, we are developing our network to penetrate our hybrid storage inverters to cater the future

FEATURED TALKS Sales Head North India, Krannich Solar

The first half of 2022 has given a mixed result The first quarter (Jan 22 to Mar 22) was very good with outstanding sales for both modules and inverters We were able to supply nearly 50 MW of modules (Trina, JA Solar, Longi, Suntech, Luxor and Solarium). Quarter 2 (Apr 22 to Jun 22) saw comparatively a bit of a slow down, but we were able to add Jinko solar to our portfolio, which would give us leverage in supporting the big development in the Indian market

How has the year 2022 been so far for Krannich? Which have been some key developments?

What is the current situation of t I "Krannich is one of the largest distributors in the solar industry across the globe"

Manish Dhuria

W o r i b s s i e r a h b e s

SolarQuarter had an exclusive conversation with Manish Dhuria, Sales Head North Zone, Krannich Solar and learned about the company’s key developments, current situation of solar distribution market and the challenges being faced by EPCs and installers He also briefed us about the company’s strength and the likely evolution in the remaining part of the year Krannich is one of the largest distributors in the solar industry across the globe We are equipped with a very experienced sales & well trained operations team here in India With multiple warehouses across the nation, we cater to the solar modules & inverter demand from the remotest part of India with ease Also having tied up with the best of the brand in the industry (Modules: Trina Solar, JA Solar, Longi Solar, Jinko, Luxor and Solarium. Inverter: SolarEdge, Growatt, Sofar and GoodWe Structure: K2 Systems ) we strive to provide the customer with an absolute peace of mind before & after h l f

CONVERSATION HIGHLIGHTS

We expect the prices to stabilize utmost by the mid of Quarter 3 (Jul 22 to Sep 22) which in turn will give a clear idea to the EPCs & installers to finalize their project costing Also, since there is a considerable slump in the industry in Quarter 2 (Apr 22 to Jun 22) we expect Quarter 3 and Quarter 4 to be much better in a way How do we see your company evolving in the second half of 2022?

JUN JUL ISSUE 2022 | PG 18| INDIA

What is the biggest strength of your company?

How do you see the solar module pricing trends emerging in the near future?

JUN JUL ISSUE 2022 | PG 19| INDIA

How has the performance of your modules in India considering the varied geographical aspects? Which are the advanced technologies that have been adopted in your products?

How many modules have you supplied in India till now? What is the target for 2022?

Since the date of incorporation, Saatvik Solar has supplied more than 1GW+ of solar modules to various developers & EPC out of which 20% has been sold out to retail customers for rooftop and C&I applications

FEATURED TALKS

The company has recently acclaimed a UL certificate for selling Solar PV modules in International markets Saatvik modules are being manufactured at state of the art manufacturing facility unit inbuilt with advanced technology and come with features such as High Module conversion efficiency, which Provides positive tolerance to ensure power output Our modules provide excellent performance even during weak sunlight and undergo various testing criteria for outstanding performance during harsh weather conditions Saatvik has recently revised its production output to 1 GW by adding additional production lines that are designed as per international standard protocols. Further by the end of this financial year, Saatvik aims to add an additional production unit in Gandhidham Gujarat to raise production capacity up to 2 5 Please give us some insights into your products and their highlights?

Prashant Mathur

The company is speeding up in using Topcon cells technology and several talks are already initiated to implement this technology into operations Saatvik modules are certified and approved by leading testing organizations such as IEC, ISO BIS, and ALMM for sales and supply

Seeing the ongoing growth company aims to sell 750+ MW of solar modules across in the financial year 2023 across the domestic market As the company also forays its expansion in international markets and EPC segment with all strategies in the pipeline we expect an average of 200+MW of Solar modules supply in the international market and through EPC offerings

"Saatvik is the leading brand engaged in the manufacturing and supply of high-quality Solar PV modules used in rooftop, utility and floating applications."

CONVERSATION HIGHLIGHTS

As the dollar price is fluctuating globally manufacturing opportunities for Solar PV modules and cells in India are going to pace up the speed Imports of raw materials have also witnessed massive up downs in recent times due to numerous reasons and factors With these ongoing global fluctuations the prices of polysilicon and other raw material in the solar industry have increased to an extent thus providing a direct impact on the final finished solar modules With the introduction of high performance technology and made in India cells we expect that there could be a possibility that prices may decrease in coming times as several imposed taxations will be exempted and module manufacturers to have an indirect benefit in terms

SolarQuarter India magazine had the chance to interview Prashant Mathur, CEO, Saatvik Green Energy wherein he shared insights about their products and module pricing trends. He spoke about the advanced technologies incorporated in their modules, their performance highlights and the target for 2022 as well.

Among module manufacturers, Saatvik has always been given preference for modules supply to several projects across geographical locations because of the quality and performance that our modules have delivered Saatvik is committed to offering high quality solar modules and supplying world class techno products integrated with the latest and advanced technology providing unmatched performance even in harsh weather and even in extreme winds and snow conditions Our products undergo a series of tests prior to ensure that the best products reach the consumer

Saatvik is the leading brand engaged in the manufacturing and supply of high quality Solar PV modules used in rooftop, utility and floating applications Currently, with our innovative product portfolio, we offer Half Cut Mono Perc & Bifacial half cut Modules up to 545Wp integrated with the latest and most advanced international technology

At present Saatvik is working with M 10 technology which soon upgraded to G 12 & Topcon as the market demands new technology and cell wafer, all the ground research work and approvals are already lined up, and Testing in the plant in terms of technical know how is underway and soon the company forays to launch this technology in Indian and Global market providing improved and better quality products for end consumers

CEO, Saatvik Green Energy

Li Jianfei JUN JUL ISSUE 2022 | PG 20 FEATURED TALKS CTO/VP, SINENG

Sineng has been a leading player in India's solar market for several years This includes being ranked as the top 1 central inverter provider and the top 2 solar inverter suppliers, both in terms of shipments and installed capacity in 2021 Our cumulative Indian shipments have now exceeded 6GW Sineng, one of the world's leading inverter producers, is dedicated to innovation in inverter design and technology. Inverter manufacturers face many challenges such as higher voltage, higher power, large block size, etc because of this constant pursuit of the lowest cost of ownership (LCOE) Sineng is always open to new innovations and modifications to address these challenges. Two phase heat exchange ventilation to increase IP level, Power Line Communication(PLC) to reduce communication cable costs, and Intelligent IV curve scanner for easy O&M were all applied This ensures that the technology can meet the requirements of different application scenarios

How important is after sales service to Sineng? Also, please brief us about your team size, process and key learning?

"Sineng, one of the world's leading inverter producers, is dedicated to innovation in inverter design and technology."

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In India, you have a diverse portfolio of string and central inverters. What is the strategy for each category?

In the year 2021 Sineng was able to cater to the exponentially increasing demands due to the vigorous development of the global PV market, with the deployment of 3 manufacturing bases in China and India, with a total production capacity of 30GW annually Sineng has shipped over 40GW worldwide, with products used in Asia, Europe, the Middle East and South America etc At Sineng, we are continuously expanding our international presence and beefing up the core business in the coming years Our Spain branch in Europe and Dubai branch in MEA markets have been a part of our expansion plan They have been operational since May 2021 in order to better serve local customers in terms after sales service, collaboration, communication, etc China and India, being our top markets are our focus For consecutive years, Sineng has been ranked among the top 10 in global PV Inverter Market share by IHS Markit & Wood Mackenzie We are leading in India with top recognition like Top 1 Central Inverter Supplier (Mercom India 2022), Top 2 Solar Inverter Supplier by Installed Capacity (Bridge to India 2022) and Top 2 Inverter Supplier by Shipments (JMK 2022) We will continue to work on the existing market share in these markets We are also actively looking for opportunities in the US market and MEA regions How was the last year for Sineng? Which were your top markets? India will produce more energy from solar and other renewable sources India plans to achieve net zero energy by 2070 with renewable energy representing 50% of total energy mix Nearly 24GW of photovoltaic systems must be installed each year to achieve this goal. The total installed capacity for renewable energy in India is 105GW by January 2022 India is pursuing its ambitious goal to increase renewable energy capacity ESS will play a major role in this pursuit ESS is an important tool to combat intermittency, fluctuation and loss of solar power wind energy and other renewables It will encourage consumption and decrease abandonment of wind and sun power Instabilities in the power supply are the main factors that impact the PV power generation system's effect on the power grid Without ESS, PV generation systems can have adverse effects on grid safety, stability, and profitability They a er flow, power grid e patch. It is important t d connections for

The penetration of renewable energy has led to a significant increase in power generation Renewable energy is responsible for approximately 13.8% of total power generation in China and in the US its 20% of total power consumption There have been policies to encourage the use of chemical storage to generate renewable energy The ESS percentage ranges from 5% to 20 percent and the duration is between 1 to 2 hours This has aided in rapid growth of the ESS in the renewable power system We are confident that India will follow a similar pattern Sineng's high power central and string inverters have been specifically designed for India They are highly efficient, protected and temperature resistant The Sineng flagship inverter EP 3125HA UD is a popular inverter in India's utility PV plants It has a high capacity, excellent performance, and greater reliability The Sineng string inverters SP 250K INH and SP 285K INH were also used for Indian utility PV plants Their performance has been excellent The SP 275KINH inverter, which supports a 20A high power PV module, is the first global 1500V string inverter This will become the standard string inverter for more high power PV modules The 3MW+ central and 200kW+ strings inverters will still be the mainstay for Indian utility PV plants in 2022 They have suitable block size, have mature technology, and are proven reliable Sineng can also supply higher capacity inverters, such as a 4MW+ central and 300kW+ string Inverter, if the Indian market demands it Sineng's mission is to provide superior service to customers without generation loss, regardless of any fault or circumstance To establish a partnership with customers, we have established a service network that is dedicated and organized with spare parts readily available throughout the year Sineng has developed a local service system since the beginning to provide quick responses and all in one assistance We have now established four after sales centres in India Sineng has local engineers who work according to project needs This reduces energy generation losses to a minimum We are also hiring experienced engineers to continue improving our service team capabilities as Sineng's installed capacity and sales have increased to almost 2 3 GW/year We also offer a hotline that is available 24/7 to help you resolve your issues quickly If there are serious issues, Sineng Electric will send a service engineer to the location and fix the problem Sineng Electric strives to meet all deadlines and fulfills commitments We also ensure the best product performance. Sineng Electric continues to expand the market by offering optimized solutions that create more value for our customers around the world

What is your view on the opportunity and markets for hybrid and storage inverters in India? PV plants, particularly in large scale projects A storage inverter is a good solution A large scale storage inverter can be equipped with many working modes such as frequency modulation, system peak shaving, frequency module, planned tracking output and smooth output control It also has smooth operation, economy, and smooth operation Although different regions may have different energy storage needs, the overall PV + ESS operation strategy has three objectives First, dispatch frequency modulation and peak shaving should be met, while the economic goal for optical storage power station should be met Second, each mode should be assigned a reasonable priority based on actual needs Third, it should allow seamless switching between multiple modes and coordinated operation

Brijesh Prajapati

CONVERSATION HIGHLIGHTS

SolarQuarter India magazine had a chat with Brijesh Prajapati, Managing Director India Shenzhen Sofarsolar Co Ltd and got to know about the company’s inverter supply till date and its deep R&D focus He also spoke about their Energy storage solutions, hybrid inverters and batteries With the Make in India focus, how do you see the market scope for SOFARSOLAR in the coming years?

So far more than 1 8Gw+ Supplied in the Indian market & in the current year we have planning to achieve a target of more than 1Gw+ and as per the current order situation SOFARSOLAR will try to achieve more than 1Gw+ Inverter order in the current year

Actually earlier we decided, will try to develop Make in India inverter concepts for the Indian market but nowadays it's postponed due to the Covid situation & will think out later for manufacturing. In 2022 Year SOFARSOLAR is very aggressive with new agenda for Business expansion with new innovative products & some up gradation on current products Sooner or later Make in India concept will apply to the Indian market & it will be more useful for local distributors and installers for easy ontime availability with better prices If local manufacturer follows the process as per required testing facility, production facilities & required manpower to do complete manufacturing task with proper testing/quality process then customer will get proper worth products as per invested coast Modular and Integrated design for easy transportation and installation PV panels More available battery energy with pack optimization SOFAR PowerAll Intelligent Residential Storage System: "SOFARSOLAR has always pursued excellent products and services to meet the growing demands of customers." export function, Support for remote firmware upgrade function, Parallel function of energy storage multiple machines, Three phase energy storage supports the unbalanced use of three phase loads, etc)

Batteries flexible expansion in stages. Extremely low battery self consumption in sleep mode

JUN JUL ISSUE 2022 | PG 21 FEATURED TALKS

SOFARSOLAR modern factory is located in Dongguan, covering an area of more than 40, 000 square meters, with a number of fully automated production lines, where there are six 100% inspection links from the component incoming to the product delivery to guarantee the product quality from the source, and modern laboratory and burn in room to escort the product quality continuously

In the Indian renewable energy segment SOFARSOLAR is a leading player in the string inverter and now SOFARSOLAR planning to expand the energy storage market , Hybrid inverter & Li Ion batteries segment as per Indian market demand The Sofar PowerAll adopts a fully modular design and can be stacked in any combination With deep integration with lithium battery and inverter, the system can monitor the real time status of PV panel, lithium battery, grid power and load and automatically control the power flow direction with a smart energy management strategy to achieve the optimization of system power distribution Meanwhile, the system can quickly switch between system battery charging and discharging demands and shorten the response time to be within 100ms

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Managing Director India Shenzhen Sofarsolar Co.Ltd.

SOFARSOLAR has always pursued excellent products and services to meet the growing demands of customers For more than ten years, SOFARSOLAR has always followed the philosophy of continuous innovation and loyal operation and focuses on the development, production sales and service of PV inverters energy storage inverters, batteries, charging platforms etc By using globally recognized components’ brands, the SOFARSOLAR product is extending the life span of products used within the power grid Meanwhile, Sofarsolar inverters have upgraded technology (e g Built in DC switch, IV curve intelligent scan, Audible alarm, Ground fault monitoring, Integrated zero How many Inverters have you supplied in India till now, and what is the target/expectation for the remaining part of the year? How is your company increasing its focus on R&D technology and investment?

How is SOFARSOLAR planning to expand into the energy storage market, Hybrid inverter & Li Ion batteries segment?

Batteries one button shutdown Critical loads switching time less than 10ms Compatibles with high current So far more than 1.8Gw+ Supplied in the Indian market"

LONGi has been a trendsetter with $689 million investment in R&D in 2021, and exceeded $1568 million cumulatively, ranking first in the PV industry, with over 1,387 authorized patents, setting a benchmark in PV Industry globally.

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SolarQuarter sat down with Pradeep for a quick Q&A, below are the excerpts For any successful company, there are three to four main components that make it a market leader, first is the technology, here LONGi has been a trendsetter with 0 6 Billion investment so far in the R&D, and that is most likely the highest in the solar industry, setting a benchmark This also helps us in scaling the latest in a way that is very difficult to imitate and giving our products a clear edge technologically Developers understand this well and that’s one of the prime reasons for our global and Indian success Secondly, it’s the sheer scale of our manufacturing, that helps us to get an edge, last year we had more than 105GW of Wafer capacity and more than 60 GW of module capacity, making us a market leader And finally, there is “reliability” which is a critical component for any s rer since a system n ears and there is a

FEATURED TALKS MD LONGi Solar India. With India on track to achieve its renewable energy targets, LONGi Solar, the largest supplier of solar panels globally, has been instrumental in serving the country’s need for reliable, affordable, and innovative solar panels

In India, the company has been present for more than five years and has now consolidated its position as the largest exporter with the highest market share

Pradeep Kumar JUN JUL ISSUE 2022 | PG 22

The company is doing exceptionally well globally and in India what do you attribute your key reasons for the success in the Indian market? huge cost involved, with LONGi our full focus has been to add to customer value, and therefore we introduced ‘LONGi Lifecycle Quality’ a comprehensive technical quality standardization management, covering the whole lifecycle of both modules and power plants, the company now represents an industry benchmark for quality and reliability. Add to it our financial stability and also numerous certifications, it’s a recipe for success But, there is one more ingredient for our sharp rise in the Indian market and that is the India first approach with an Indian team that is focused and tailor made to serve our customers here in India Unlike other industries, Government has a far bigger role to play in the renewable energy industry since energy is a national core concern As a developing nation with global aspirations, the demand for energy is ever increasing, and at a conservative estimate, the demand for energy in our country would be rising more than 4% per annum, which would mean an addition of 16GW of additional capacity requirement every year and that’s on top of the Govt’s aspiration for 280 GW of Solar by 2030, so overall we are looking at more than 30 35 GW of capacity needed for the next 7 8 years, and that’s massive and needs collaborative efforts of both the domestic and international manufacturers like LONGi. However, it need not be ‘either’ and ‘or’, what we need is a more nuanced and tailor made approach where both these priorities are well balanced because both are critical for India’s new energy independence and the common denominator in both these diverging sides is technology We need to be on the technology’s side, which will truly differentiate and accelerate our journey, and we know that the policymakers understand this well Global market leaders like LONGi with its cutting edge R&D and massive scale are partners for the Indian Developers as we are committed to a long term future for India and creating a win win situation that is not dictated by the current binary, there is enough room for both these to thrive together and India needs both these to successfully accomplish its 2030 target of 280 GW of renewable capacity

There have been multiple challenges not just for LONGi but for the industry overall, and some of them are related to the external environment, like the supply chain issues and the ship freights and others are policy related, and it makes life tougher for everyone, but especially for the large scale developers who are critical for India to achieve its renewable energy targets So, there is a rise in the solar module, owning to up stream pressures and then there is a massive 40% duty on the imports add to it the rise in the interest rates, so you have the margins shrinking a lot and it would eventually impact the scale of the solar installations in the country We at LONGi are very clear that even though at present there are multiple challenges at the moment, the long term prospects remain positive, and we are confident that this will change eventually, and we have a distinct advantage here in India with our local team which is highly experienced

In his present role, he works as the Managing Director for LONGi Solar India and has been instrumental in shaping LONGi’s business in the country with his astute leadership From being in 17th position in 2019, LONGi Solar has now emerged as the undisputed market leader in the country with over 25% market share over the last two years

What are the key challenges that you see in the Indian market and what’s LONGi’s strategy for India in the short run and long run?

What do you have to comment on the increasing role of the Government and its impact on the business?

SolarQuarter got an exclusive opportunity to interview Mr. Pradeep Kumar, MD LONGi Solar India Pradeep is a dynamic leader and one of the solar industry’s top emerging talents He is specifically credited with turning around businesses through robust decision making and thoughtful strategy.

In an exciting interview with SolarQuarter, Piyush Nahar, General Manager LYSAGHT® Business, Tata Bluescope Steel spoke about the ILIOS® mounting solutions and their key benefits He also spoke about how engineering design plays an important role in solar module mounting structures and talked about their operational capabilities as well What are your operational capabilities?

"We use high strength steel with lesser thickness and with very minimum connections which provides a stronger and stable structure and also saves steel weight."

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Tata BlueScope Steel with its multi locational manufacturing facilities strategically located in Chennai, Pune, Bhiwadi, and Jamshedpur ensures easy product availability and on time delivery with consistency in the quality of products supplied Our product (ILIOS®) DNA has all the cut/slit and punched edges coated with Zn Al/Zn rich protective coating to avoid exposed surfaces. This further leads to increased life of the mounting structure Our plants follow strict QAP approved by all major EPC Contractors & Developers

Piyush Nahar JUN JUL ISSUE 2022 | PG 23 FEATURED TALKS

Individual members are closely operated and inspected for dimensional accuracy. Our machines are well maintained and automated for a smoother finish, sturdier and more accurate profile, and defect prevention Operating teams are highly skilled and are well trained by the engineering team, not only on operations but on the requirements of end application Safe transportation and high quality product packaging; lay a strong foundation for a sound supply chain Combining the above two, we need to achieve the most optimum and competitive solutions as the tariff per unit keeps going down

Premium solar module mounting solutions from ILIOS® by Tata BlueScope Steel, are available for ground and roof top applications These custom solar mounting systems are made from Zn Al coated cold rolled steel or Zn coated steel These systems are easy to install and offer greater corrosion resistance and weight optimization ILIOS®, a complete solution for solar module mounting, offers engineering support, design detail, installation, and material supply. Our multi locational manufacturing facilities ensure on time project delivery The overall project cost is reduced due to weight optimization Pre Punched Sections ensure faster project delivery Zn Al alloy coated steel provides better corrosion resistance and longer durability High Strength Steel allows strikethrough greater load capacity and longer spans Li ht i ht S ti make it easy to dle. ILIOS® offers C and Hat sections to be used in ground mounted applications These structures of high strength are made from cold rolled Zn/ Al Zn alloy coated steel They are available in different coating thicknesses and dimensions to meet project requirements

CONVERSATION HIGHLIGHTS

How does engineering design play an important role in solar module mounting structure?

General Manager LYSAGHT® Business Tata Bluescope Steel

The key benefits of ILIOS® ground mounting solutions are: Please give us a brief introduction to your ILIOS® mounting solutions. Kindly provide the key benefits of your ground and roof mounting solutions.

Smart Solution enabling Green Building Construction Quick and reliable installation A Fully Integrated Solution LYSAGHT® profiles are compatible with ILIOS® Roof Top Solar Mounting Solutions In order to suit LYSAGHT® profiles, special clips are indigenously designed and developed These clips have safe design factors and are tested for wind uplift Solar panels are directly mounted on LYSAGHT® profiles using these clips

The key benefits of LYSAGHT® rooftop mounting solutions are: The first and foremost requirement is to ensure structural stability considering the high wind speeds For this, we use high strength steel with lesser thickness and with very minimum connections which provides a stronger and stable structure and also saves steel weight It is also important to derive the layout of solar panels to understand the number of rows and columns Parameters like Slope, ground clearance, and orientation of the panels whether landscape or portrait are some of the critical factors that play an important role in arriving at the optimum design.

The second most important factor is Durability which is the life of the structure that is completely exposed to the atmosphere To ensure durability, we use Cold formed purlins made of ZINCALUME® Steel which has 4 times longer life than the regular galvanized structures in the most corrosive environments Along with this, proper selection of fasteners is also important, and we recommend stainless steel fasteners to resist the severe corrosive environment

SECI Granted Commissioning Time Extension On Account Of Delay In FDI Approval

GERC Adopts Tariff With Change In Law Clause For 500 MW Solar Power

Recently, Gujarat Electricity Regulatory Commission (GERC) adopted a tariff discovered under a competitive bidding process conducted by Gujarat Urja Vikas Nigam Limited (GUVNL) for procurement of power from a 500MW solar PV power project in the state of Gujarat GUVNL submitted that initially ‘Change in Law’ clause in the tender document, was restricted to i) anti dumping duty safeguard duty & custom duty on solar PV modules, ii) the incorporation of tax or surcharge or levies on the generation of electricity. Subsequently, the Ministry of Finance increased the rate of GST on solar modules from 5% to 12% vide notification dated 30.09.2021. Accordingly, solar developers or bidders demand the inclusion of GST rate change as a ‘change in law’ event in tender documents After the e reverse auction, 2 29 Rs/Kwh tariff rates were discovered for the total 500 MW capacity GUVNL argued that the inclusion of the rate of GST in the draft PPA without the commission’s approval is permissible in view of MoP’s guidelines for ‘change in law’ provisions are very wide to include a change in taxation, duties, cess, etc as pass through in tariff with restitution principle Petitioner also argued that the discovered lower tariff of Rs 2 29/unit with modified ‘change in law’ clause including GST on solar modules, is in the overall interest of the consumers GUVNL further claimed that 500MW solar energy which is being procured by them is towards the fulfillment of their renewable purchase obligation (RPO) Commission adapts the discovered tariff rate at Rs 2 29/unit as under Apart from the directives of the Commission in this Order, the Petitioner signed the Power Purchase Agreement (PPA) with the successful bidders with allocated capacity and tariff as per the above table. The Commission also ordered the petitioner to take prior approval before incorporating any changes in the future bidding documents

SECI granted a time extension on account of the delay in the approval of the foreign direct investment (FDI) application In view of the above context, the commission permitted the petitioner to withdraw the petition. After analyzing the petitioner's submission, the commission gave the following orders.

Recently, SECI has granted a time extension in financial closure, land acquisition, and scheduled commissioning date to M/s Masaya Solar Energy Pvt Ltd for their 300MW solar power plant The Masaya Solar Energy Pvt Ltd and SECI signed a power purchase agreement (PPA) dated 03.07.2020 for the commissioning of a 300MW solar plant But due to the delay in the approval of the solar developer’s FDI application, the project could not achieve desired milestones i e financial closure, land acquisition, and scheduled commissioning date Subsequently, the solar developer submitted a petition to the central regulatory commission (CERC) for approval of an extension of time of the project, on account of a force majeure event beyond the reasonable control of the petition

MILESTONE CURRENTDATEDUE TIMELINEREVISED F12.04.2022 inancial Closure 09.11.2021 12 04 L2022 and Acquisition 09 11 2021 12 10 S2022 cheduled Commissioning Date 12 05 2022 SOLARQUARTER RESEARCH JUN JUL ISSUE 2022 | PG 24

Policy

Debrief | INDIA

SOLARQUARTER RESEARCH JUN JUL ISSUE 2022 | PG 25 Kerala Distribution Company Requests Commission For Inclusion Of Gross Metering And Net Billing

Prayers of KSEBL to commission:Recently Kerala State Electricity Board Ltd (KSEBL) has filed a petition seeking modification of the KSERC (Renewable Energy and Net Metering Regulations), 2020 in line with the “The Electricity (Rights of Consumers) Rules,2020″ KSEBL humbly requested the Kerala State Electricity Regulatory Commission (KSERC) ‘Gross metering scheme’ and ‘Net Billing’ scheme as envisaged in “The Electricity (Rights of Consumers) Rules,2020 and the Electricity (Rights of Consumers) Amendment Rules,2021″ by amending the KSERC (Renewable Energy and Net Metering) Regulations,2020 The present practice provides a ‘Net Metering ‘ facility for grid interactive RE systems of not less than 1 kW and not exceeding 1 MW capacity on the AC side of the inverter, limited to the sanctioned connected load or contract demand as applicable to the prosumer, with the distribution licensee Domestic consumers with a connected load up to 20 kW are permitted to install a ‘Renewable Energy System’ of capacity up to 20 kW, irrespective of their connected load. The above limit of 20 kW connected load shall not apply in the case of group housing societies and residential flats, for common services such as lift, common lighting, clubhouse, car parking, common areas, etc In case the energy injected by the prosumer from his renewable energy system exceeds the energy consumed by him from the distribution licensee during the billing period, such excess energy is allowed to be banked with the distribution licensee and to be carried forward to the subsequent billing periods of the settlement period

SECI mentioned that the hybrid power developers (HPD) have been selected through a transparent competitive bidding process for the proposed 1200 MW capacity Subsequently, SECI p h respect to ISTS losses, the impact of B ect After analyzing SECI’s proposal

In response, SECI intimated to HPPC that it can only supply 800 MW of power out of the total capacity of 1200 MW of that particular scheme since it had already consented to supply the rest of the power to other buyers They also stated the applicable tariff including the trading margin under the PSA will be Rs. 2 41/kWh for 700 MW and Rs 2 42/kWh for 100 MW out of the total 800MW offered capacity. Subsequently, after receiving consent from SCPP for the revised 800 MW capacity, HPPC submitted the following prayers to the commission (HERC)

For prosumers having connected loads of and below 20 kW under net metering arrangements, they are allowed to draw back from the grid, the electricity injected during a time block at a

Grant source approval for procurement of 800 MW ISTS connected Wind Solar Hybrid Power under Tranche IV Scheme of Solar Energy Corporation of India Limited (SECI)at a levelized tariff of Rs 2 34/kWh for 700 MW and Rs 2.35/kWh for 100 MW plus a trading margin of Rs. 0.07/kWh for a period of 25 years

Grant approval to draft Power Supply Agreement (PSA)

Haryana Electricity Regulator Approves Power Sale Agreement (PSA) For 800MW Hybrid Wind Solar Power Procurement From SECI

| INDIA

In a recent order, the Haryana Electricity Regulatory Commission (HERC) approved Haryana Power Purchase Center’s (HPPC) petition for approval of source as well as approval of the draft Power Supply Agreement (PSA) for procurement of 800 MW ISTS connected Wind Solar Hybrid Power under Tranche IV scheme of Solar Energy Corporation of India Limited (SECI) at a levelized tariff of Rs 2 34/kWh for 700 MW and Rs 2 35/kWh for 100 MW plus a trading margin of Rs 0 07/kWh for a period of 25 years

and submission, HPPC pursued the same in the 62nd and 63rd meetings of the Steering Committee of Power Planning (SCPP) Pursuant to the decision of SCPP, HPPC gave its consent to procure 1200 MW of Wind Solar Hybrid Power at Rs 2 34/kWh (levelized) including SECI’s Trade Margin It was explicitly stated that the said tariff is inclusive of the impact of BCD imposed on solar modules/panels etc and is eligible for ISTS waivers

In Feb 2022, after receiving an offer of 1200MW wind solar hybrid solar power from SECI under the tranche IV scheme, HPPC reviewed the offer and enquired to SECI about potential implications with respect to BCD, GST, and ISTS losses

Solar technology in the state has achieved grid parity and significant addition in a solar generation is being integrated into the grid In this scenario, continuing the ‘net metering’ methodology is creating a heavy financial burden on the DISCOMs. Kerala’s power demand during peak hours varies from that during normal hours by 400MW to 800MW To meet the peak demand, the costliest power has to be scheduled by DISCOM The average Market Clearing Price during day time is below Rs 3 50/unit, whereas during peak hours the Market Clearing Price ranges from Rs.4.50/unit to Rs.6.00/unit and can go even up to Rs 9 12/unit in extreme summer months This huge price variation forces DISCOM to provide costlier peak power to the consumers almost at zero cost which is creating a huge financial burden for DISCOM In the above context, KSEBL humbly requested commission for inclusion of the ‘Gross metering scheme’ and ‘Net Billing’ scheme in KSERC (Renewable Energy and Net Metering Regulations),2020 As per KSERC (Renewable Energy and Net Metering Regulations),2020, the distribution licensee shall at the end of the settlement period pay for the excess energy banked by the prosumers and captive consumers at the Average Pooled Power Purchase Cost (APPC) of the licensee as approved by Commission from time to time The APPC approved by the Hon’ble Commission for the FY 2021 22 is Rs 3 22/unit This rate becomes significantly higher compared to the prevailing rate of solar at 2 44 INR/Unit in the state Subsequently, KSEBL requested the Hon’ble Commission for approving Rs 2 44/unit for excess banked energy for the period starting from 1st October 2021 to 30th September 2022 different time period without any restriction Excess energy shall be allowed to be banked and carried forward to the next billing period

After analyzing the above observations and other submissions of HPPC, the commission approved the draft Power Supply Agreement (PSA) and the source of power for procurement of 800 MW ISTS connected Wind Solar Hybrid Power under Tranche IV scheme of Solar Energy Corporation of India Limited (SECI) at a levelized tariff of Rs. 2.34/kWh for 700 MW and Rs. 2 35/kWh for 100 MW plus a trading margin of Rs 0 07/kWh for a period of 25 years

In a recent order, the central electricity regulatory commission (CERC) gave permission to the country's third power exchange, Hindustan Power Exchange Limited (HPXL), to commence its operation In May 2021, after granting registration to HPXL to establish and operate a power exchange in India, the commission asked for further compliance in terms of getting approval on Bye laws, Rules, and Business Rules and the technology including trading software to start operation in the country

At Rs 2.90/Kwh

WBERC Approves 100MW RTC SolarWind Hybrid Power Purchase From SECI

SOLARQUARTER RESEARCH JUN JUL ISSUE 2022 | PG 26

In a recent order, the Central Electricity Regulatory Commission (CERC) extended the electricity exchange’s maximum allowable quoted price to Rs 12/kWh till 30th Sep 2022 for all format of contracts Different format of contracts that comes under this order is Day Ahead Market (DAM), Real Time Market (RTM), Intra D ngency, and Term Ahead (including G | INDIA

Recently the West Bengal Electricity Regulatory Commission (WBERC) approved a power sale agreement (PSA) between SECI and West Bengal State Electricity Distribution Company Limited (WBSEDCL) for 100MW round the clock (RTC) solar wind hybrid power for 25 years duration. SECI as a nodal agency of the Ministry Of New And Renewable Energy (MNRE), has floated a 400MW request for selection (RfS) for a 400MW hybrid solar power purchase in Oct 2019 from the hybrid solar developer Accordingly, after selecting a successful bidder SECI signed a PPA with the hybrid plant developer In view of the Ministry Of Power (MoP) order of long term growth trajectory on renewable purchase obligation (RPO) of different states, WBSEDCL proposed to buy 701 6 MU solar wind hybrid power based on CUF of 80 05% After analysis, it was observed that WBSEDCL will lag far behind the scheduled RPO since they could only achieve 1 15% of RPO for the duration of 01 04 2021 to 31 12 2021 In view of the above context, WBSEDCL agreed to purchase 100MW RTC hybrid power from SECI acting as an intermediary buyer Thus, the commission observed that the proposed 100MW RTC hybrid power procurement by WBSEDCL will improve the state’s RPO compliance further

The Commission observes that HPPC has to meet the state’s solar RPO targets fixed by the Commission, under the Haryana Electricity Regulatory Commission (Terms and Conditions for determination of Tariff from Renewable Energy Sources, Renewable Purchase Obligation and Renewable Energy Certificate) Regulations, 2021 (HERC RE Regulations,2021)

Subsequently, in response to a new petition by HPXL, the commission gave approval to the Bye laws, Rules, and Business rules of HPXL

Further, for approval of the exchange’s proposed transaction platform, HPXL filed a separate petition with an audited report of the proposed software’s algorithm All of the above criteria for getting approval for commencing operation by the commission are according to the terms of Power Market Regulation, 2021 (PMR 2021) After observing all submissions by the petitioner, the commission gave approval for commencing the operation of the new power exchange, HPXL The Commission also directed HPXL to charge a transaction fee in line with CERC PMR 2021 regulation till the commission decides on the transaction fee

In view of the above context, the commission approved the PSA agreement with a tariff of 2 90INR/Kwh for the first year with a yearly escalation of 3% till 15 years and no further escalation after 15 years Also trading margin of 0 07 INR/Kwh will be applicable for the entire 25 years period of the agreement. The Commission also observed that the RTC power tariff will be much cheaper than the renewable price of power exchange at the rate of 5 29 INR/Kwh for FY 2021 22 As the power will be procured through the ISTS line, WBSEDCL will not be obliged to pay any ISTS transmission charges, in line with the Gov of India’s waiver of ISTS transmission charges for the project commissioned before 30.06.2025. The commission directed WBSEDCL to adhere to provisions of intra state ABT, state grid code, etc Commission’s Analysis & Decision: Commission’s Analysis & Decision:

CERC Gives Operational Approval For Country’s Third Power Exchange, Hindustan Power Exchange Limited

CERC Extends Electricity Exchange Quoted Price Cap To Rs12/KWh Till 30th Sep 2022

PG 27

Policy Analysis |

CERC Extends Electricity Exchange Quoted Price Cap To Rs 12/KWh Till 30th Sep 2022

SOLARQUARTER RESEARCH JUN JUL ISSUE 2022

Recently, on the basis of India’s power demand supply and demand assessment, the commission ordered all exchanges to set a price limit between Rs 0/Kwh & Rs 12/Kwh This was until 30th June 2022

Recently, CERC approved the operational clearances to the country’s third power exchange named Hindustan Power Exchange Limited (HPXL). Background Commission’s Observation And Decision: | INDIA

In view of the above context, the commission observed that the trend in high power demand will continue for the next few months in view of increased economic activity, high agricultural load demand, and increased household load After observing all points and analysis, the commission ordered the extension of the exchange's quoted price capping to Rs 12/KWh till 30th Sep 2022

Peak power demand hovered at a maximum of 204GW to 212GW between May 2022 to June 2022 The country observed this kind of high demand for the first time Percentage share(%) of discovered market clearing prices (MCP) in the range of Rs 12/KWh for DAM contracts ranged from 4% to 66% in IEX. Percentage share(%) of discovered market clearing prices (MCP) in the range of Rs 12/KWh for RTM contracts ranged from 2% to 53% in IEX. For June 2022, the average price of volume traded for Term Ahead Market (TAM), Intra Day, and Day Ahead Contingency (DAC) was Rs 8/KWh.

In a recent order, Central Electricity Regulatory Commission (CERC) extended the electricity exchange’s maximum allowable quoted price to Rs 12/kWh till 30th Sep,2022 for all formats of contracts Different formats of contracts that come under this order are Day Ahead Market (DAM), Real Time Market (RTM), Intra Day, Day Ahead Contingency, and Term Ahead (including GTAM) contracts

In view of the above context, the commission regularly monitored the exchange’s discovered electricity prices and volume of traded electricity between May 2022 and June 2022 Major points observed between May 2022 to June 2022 are given below

What Is VPPA?

C&I consumers who have a demand of less than 1 MW are currently not able to procure RE In present practice, C&I customers with multiple offices/plants in different locations must sign multiple PPAs Whereas, the aggregate demand of multiple users across different geographies can be met under one VPPA contract since there are no consumer obligations for off taking power under VPPAs.

Risks Associated With VPPA

Price Settlement Advantages of VPPAs In The Indian Context

Technology Insight | INDIA

Currently, there are lots of challenges in meeting different compliance of open access (OA) regulations of different states. Also, the uncertainty of OA charges in different states, makes open access an unsustainable purchase model for C&I consumers Whereas, in VPPA, the consumer is not impacted in any way by OA regulations and charges, as the power is not being taken by the consumer, but is instead being transacted in power exchange

Virtual Power Purchase Agreement (VPPA), How VPPA Could Be Relevant In The Context Of The Indian Renewable Electricity Market?

SOLARQUARTER RESEARCH JUN JUL ISSUE 2022 | PG 28

There are several instances in which DISCOM has been resistant to issue open access approval to deep pocket C&I consumers in fear of losing consumers Whereas, in VPPA, Since the consumer continues to procure power from the distribution utility, VPPAs is not seen as a threat to the utility business and will face no resistance

Source: WWF’s report on “Virtual Power Purchase Agreement For C&I Consumers In India”

In cases where there is no buyer on the power exchange to buy the power, lack of liquidity could be a potential risk

The ESG compliances require corporations to demonstrate that they are adding renewable energy to their grid to meet their sustainability goals However, current RECs don't assign to specific projects making it difficult to prove additionality Whereas, In VPPA, it allows the consumer to assign the certificate for a specific project It eliminates multiple trading of the same RECs and allows for the addition of clean energy projects in an undisputed manner In the case of REC purchases, C&I consumers have to pay extra costs But under VPPA, with agreed ‘strike prices’, consumers can gain potential cash Exposure to wholesale power market prices Operational risk associated with operating RE plants on a daily basis, including technical performance and weather variations

VPPA Operating Mechanism

In view of the government’s recent major thrust in green open access, the VPPA could provide a new avenue for C&I consumers to fulfill their demand for green energy in India VPPA will be a great complement to existing RE procurement tools, and it will allow C&I consumers to procure 100% RE

Compliance with various regulations and changes in the law Proper certification of RECs. An increase in open access charges makes the short term transaction at the power exchange costly

India has set an aggressive target of 500GW of renewable energy installation by 2030. They also committed to Net Zero Emissions by 2070 These targets can only be achieved if the Commercial and Industrial (C&I)segment, which accounts for half of India's total electricity consumption, adopts renewable energy to its maximum extent It is encouraging to see that large C&I customers are showing a strong interest recently in switching to RE procurement through different models like Power Purchase Agreement (PPA) with DISCOM, open access, energy exchange, REC certificates, etc In 2019 20, C&I consumers constituted 51 percent, approximately 660 BU, of the total power demand in the country. In the above context, there are lots of gaps in the market for RE procurement by C&I consumers in India These gaps can only be filled up by some innovative models like Virtual Power Purchase Agreement (VPPA)

Recently, virtual power purchase agreements (VPPAs) have emerged as a popular tool for corporate groups to increase the share of renewable power in their consumption significantly in a short period of time A VPPA is a bi lateral contract between the generator and the consumer that takes place outside the power market There is no physical transfer of power In VPPA, the generator will continue to sell power as brown power on the power exchange, but it will transfer the green attributes to the energy consumers with whom they have signed a VPPA The consumer has the freedom to source his physical power requirements in the best possible way like via a DISCOM or power exchange, bilateral mode, or captive mode A VPPA establishes a strike price between the generator and the consumer. The strike price is then compared to real time power exchange prices where the generator sells physical power The difference between these prices is then settled between the parties This kind of settlement is called Contracts for Difference (CfD) In the CFD mechanism, If the market price falls below the strike prices, the consumer will compensate the generator If the market prices are higher than the strike price, the difference is passed from the developer to consumers. This kind of settlement is called Contracts for Difference (CfD). These transactions are especially attractive to corporate entities as they allow them to plan electricity expenditures in an extremely volatile market

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OPINION JUN JUL ISSUE 2022 | PG 29 FORMER DIRECTOR &

Deployment of variable energy sources like solar photovoltaic (PV), wind turbines, and distributed energy resources is mainly achieved through power electronic (PE) inverters The PE inverter interfaces the direct current from solar PV and variable current from the wind turbine to the grid. However, this results in fundamentally different performance characteristics compared to synchronous machines CISO, POSOCO LTD PRAVEEN Power systems once dominated by traditional synchronous generation are now undergoing an irrevocable transition towards PE dominated. For example, in Tasmania, Australia, the power system is already experiencing operation at more than 70% instantaneous PE penetration In other parts of Europe, it is expected that the share of RES will increase to 100% of the hourly generation mix in the coming decades

Obtaining system services from VRE requires various policy measures, such as specific grid codes and upgrades to the system services procurement mechanism PE connected resources may provide many innovative ancillary services such as fast frequency response, and controlled flexibility, the procurement of these innovative services will need a redesigned market for ancillary services

Ancillary Services from VERs INDIA

"Inertial response" refers to the ability of synchronous generators to speed up or down to overcome immediate frequency disturbances Traditionally, large thermal generators and hydropower plants have provided the inertial response Wind turbines can also give an inertial response through PE inverters in the new era

Reactive power injection is an important ancillary service performed by PV inverters Thus, using PV inverter current margin for reactive power to industrial machines, e g , can reduce the reactive power consumption from the grid, thus reducing losses and improving the system stability

Although high level clean energy VERs penetration reduces negative environmental impact compared to conventional fossil fuel based energy generation, the grid stability issues become more complex due to the variability and uncertainty of input fuels. Further, the system inertia is significantly decreased due to the absence of conventional synchronous generators

DERs, such as rooftop solar systems, behind the meter battery storage systems, plug in electric vehicles, and commercial and industrial loads, can provide ancillary services to system operators through price based incentives, often referred to as "explicit demand response " By increasing liquidity and competition in the ancillary service markets, DERs can also help lower ancillary service procurement costs In addition, DERs may be allowed to participate independently or through aggregators or retailers, depending on the market design in place

Further, Photovoltaic (PV) installations, direct current systems, and batteries can provide a synthetic inertial response if the inverter is programmed to do so

The share of variable energy resources (VERs) are becoming significant worldwide, especially over the last two decades.

The gradual displacement of synchronous generators results in a shortage of vital ancillary services (AS), like an inertial response, frequency regulations, reactive power, etc , which are crucial to the grid's stability Moreover, VERs also create the stability problem introduced by the uncertainty and variability

Proper programming of wind turbine inverters can provide frequency regulation ancillary services to the grid. Further, how PV plants are operated can also be a factor in the ability to provide frequency response

Thanks to the controllability of PE inverters and worldwide research, the inverters of VERs can provide conventional and i ti ill ervices for managing the stability c shown in the figure below

KUMAR AGARWAL

An empirical formula for explaining the relationship between Resources, Energy, and Population in any country can be written as P= I ( N E)/p^2 where P= Prosperity, N= Natural resources, E =Energy resources, p=Population, and I is an intangible factor relating to “Ingenuity” In the present context, our focus is on the “I” factor to manage “N” and “E” in highly populated countries like ours During our lifetime, we have never seen concurrent calamities over prolonged periods, impacting a large number of interwoven societies, almost wrecking their health, income, living, freedom of movement, and basic needs of “TOTAL BEING” Covid 19, all over the globe, CLIMATE Change Floods and landslides, tremors, violence, fires, etc in many provinces/countries have virtually created havoc and mutual individual, societal, and neighboring national/international conflicts, etc Re engineering of old systems of governance(SOPs), Creating Productivity Oriented Organizations | So what’s the difference?? Will the formulas change OR do we find a new answer to the formula ?? The answer is that the way to manage has to change WE have to be innovatively finding solutions to meet today’s demand Climate change today needs to CHANGE DO NOW should be the approach, Resource management including moving from Fossil to better Green Renewable ENERGY usage is one on the ways to help fast track control the changing canvas painting Understandably, interlinkage in all segments across the supply chains has developed severe cleavages and disruptions in meeting our basic needs Therefore, the Ingenuity factor, mentioned above needs re structuring of application in all aspects of Resource management Accelerated application of Engineering, Technology, skills, and Financial packages to restore the areas of Housing, Infrastructure, Agriculture, Transport, Energy, Education, Health Care, etc this immediate attention The governance issues and challenges are enormous which result in political and social stresses The above mentioned situations, simultaneously, offer great OPPORTUNITIES for the renewal of old practices by, NEW SYSTEMS, NEW SPEED, and NEW SKILLS Perforce, we may have to scale down inefficient factories, Power plants, Substations, Mines, Railway traction by Diesel, etc The outlook towards inefficient fuels will need immediate curtailment

OPINION JUN JUL ISSUE 2022

Transforming the way we do “inside for the outside”

In the present context, our focus is on the “I” factor to manage “N” and “E” in highly populated countries like ours."

ESG - The Drive towards Net Zero Energy Management in New India, New Times, and New Challenges

FOUNDER & CEO, WINNERSPITCH ENERGY PVT LTD CO FOUNDER & MD, WINNERSPITCH ENERGY PVT LTD S K CHAWLA NEERAJ CHAWLA All of this brings out the need for Energy AUDIT and EFFICIENCY across the board Agencies like BEE are already existing and may need a quick review of Standards and Procedures for accelerated replacement of imported gadgets etc.

PG 30

Create Auto feedback, monitoring and rerouting the tracks for timely delivery viz meaning that the Older Industrial Engineering framework and methodology may be rewritten Installing IT backbones at each and every work center, and their connectivity for “ Real Time” “ Online “ communication /and sensitize further actions On the Asset Management side Plant and Machinery, Buildings, Transport and material handling equipment may be assigned a Running Cost for each operation and Output | INDIA

Assuming that we take the most highly used resource and qualify it as ENERGY (KWH) by using our own INGENUITY, we can believe that Energy resources are the most expensive raw materials/resources hurtings the environment and eventually the bottom line a typical Business case right we may manage ENERGY efficiently to reduce Carbon footprints

The Question to maturing - matured organization is : Do we have the resources who manage these machines? Do we have Key resultant areas to govern the performance of these resources? Do we need to monitor these resources and help increase their efficiency? YES Do we have the same type of machine across the plant and the answer is NO Strategy led action plan

OPINION JUN JUL ISSUE 2022 | PG 31

Transparency & Measure Transforming the way we monitor and manage assets(man machine)

The challenge however remains and points towards smarter management of this available data to help increase productivity, and improve the bottom line and environmental challenges. To deliver the above basics and move towards Industry 4 0 in a well detailed and scientifically managed move towards IoT Platforms This has become critical, in terms of vi convergence of all the verticals In addition to the convergence of Data the key lies in how we can use the data intelligently to improve performance across the enterprise the answer lies in developing strategies around KRA KPI making a benchmark of previous performance and continuous improvement These need to be displayed and m dashboards for MIS EIS purposes and S eas for the organization structure d Deploying renewable energy Monitoring Deploying Strategies across Assets Building management Deploying Strategies across Component and Machine Preventive and Corrective Maintenance

| INDIA

Organizations are generating thoughts and trying to help the business vertically, generally, and also using different tools and technologies Some lead points towards these may be as under The fact is that all these verticals are very valid in any Energy Centric organization How do we manage all this to meet our business goals?

The answer is to look for Energy Management Solutions, designed specifically keeping in mind the convergence, increased resource productivity, and continuous monitoring for better margins keeping in mind the dynamic changing climatic conditions, and political and business competitive arena Our aim should be to stay lean and thin flat organization, SMART AND SWIFT, APPROPRIATE TO REMODEL ITS DESIGN TO BEAT ALL TIMELINES OF NEW NORMAL YES YES Technology Schematic and a single platform for all Energy Management requirements

E.g KRA KPI basic drivers and concepts which can help improve and build better resources with increased better performance in “New Normal”

Large scale solar plants supported with ESS can cater to various degrees of intermittency on an hourly and minutely basis, enabling reliable solar integration. ESS technologies with longer discharge durations can be integrated with solar plants to ensure round the clock support to the grid by supplying energy during non sunshine hours Additionally, RE curtailment will be reduced because the storage would be charged using the excess energy generated during daylight hours

OPINION JUN JUL ISSUE 2022 | PG 32

Figure 1: Infographic on the classification of energy storage systems (image recreated from the Center for Study of Science, Technology and Policy’s working paper titled Energy Storage Options for Indian Power Grid)

Quick response ESS co located with solar plants allows to meet peak demand and follow the load more efficiently than conventional thermal plants Moreover, by utilizing efficient energy management techniques, these plants can avoid power generation from expensive gas power plants while meeting peak demand, lowering the overall cost of power system operations.

How Storage Integrations Can Provide A Strategic Benefit in Large Scale Solar Projects and Create Synergy? INDIA

Energy arbitrage can also be achieved with the integration of ESS A co located storage plant can generate additional revenue for the developer by charging during low cost periods when excess RE is available and dispatching during high cost periods

Quick response ESS co-located with solar plants allows to meet peak demand and follow the load more efficiently than conventional thermal plants"

Recent advancements in ESS technologies have resulted in a substantial decrease in capital cost, expanding market growth Therefore, it is the right time to deploy suitable ESS technologies in upcoming large scale solar projects to achieve our energy and economic goals

At the COP 26 UN Climate Change Conference in Glasgow, the Government of India revised its non fossil energy targets for 2030 from 450 GW to 500 GW. To accomplish this, developing India’s solar potential is essential Given the intermittent nature of renewable energy (RE) sources, we require energy storage systems (ESS) to maintain the power grid's security and dependability

Co located ESS can easily adjust frequency deviations caused by the intermittent nature of solar plants. They can help solar generators reduce the deviation settlement penalty caused by the under injection of power into the grid, enabling better frequency regulation

Seasonal mismatches associated with solar radiation can also be reduced by ESS integrated with large scale solar plants Excess solar energy generated during the summer can be stored and used during the monsoon and winter seasons, thereby supporting seasonal storage Various types of ESS can be integrated with large scale solar projects. They are classified into three types based on their discharge duration (see Figure 1) In 2021, a Solar Energy Corporation of India (SECI) tender was won by Tata Power Solar to construct a solar photovoltaic plant with a capacity of 100 MW along with a 40 MW / 120 MWh Battery ESS. Greenko and ReNew Power won the SECI auction in 2020 for 1 2 GW of hybrid solar and wind along with ESS for peak power and round the clock supply The issuance of these grid scale solar and ESS tenders shows that India is on the right track in integrating large scale solar plants with ESS

The synergy between large scale solar plants and ESS helps plant operators provide quality services that are faster and more competitive than conventional power plants Therefore, to boost more investment in the sector, proper compensation schemes and market mechanisms should be implemented in the future.

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RESEARCH SCIENTIST, ENERGY & POWER SECTOR, CSTEP AND ANALYST, ENERGY & POWER SECTOR, CSTEP DR AMMU SUSANNA JACOB SAIRAM THANDRA

How

The Rules nevertheless are a robust and forward looking step towards encouraging greater efficiencies for the adoption of solar power across other RE sources, through the open access mechanism Green Energy Open Access Rules, 2022 will catalyze solar adoption in India?

For a country that boasts of not only a 748GW solar potential but its meaningful translation into its year 2030 target of 280GW solar power, the Rules present a watershed opportunity to unlock the potential of decentralized solar power generation. When looked at in the context of ISTS waiver and postponement of ALMM mandate for open access, the rules seem to be addressing the entire economic chain of availability, affordability, and accessibility of solar power adoption

The baton, however, now rests with the regulators, consumers, implementing agencies, and most importantly the State Governments that own power distribution and state transmission utilities to adopt the rules in the context of a larger ecosystem

The year 2030, in one’s head, immediately translates to the COP26 500GW non fossil fuel capacity installation target, in the Indian context As a developing economy at the cusp of growth across sectors, the clean energy transition is warranted in a non linear manner across sectors alike Recognizing this, the Ministry of Power has brought about the Green Energy Open Access Rules, 2022 The rules notify a reduction in the limit on the minimum contracted demand or sanctioned load to access green energy through open access from 1000kV to 100kV. This democratization of green energy access shall be instrumental for smaller electricity consumers, especially MSMEs, who can choose to avert the brunt of high tariffs by paying lower RE tariffs with predictable cross subsidy charges, thereby catalyzing their growth and contributing to their respective sectoral growth. A host of other enabling provisions of the Rules including a 15 day window for grant of connectivity approvals, a proposed central nodal agency to monitor such implementation, restrictions on o d d d di i f hl e T e

MANAGER INVESTMENTS, AMP ENERGY INDIA HIMANI SABHARWAL

| INDIA

h p in R s im p q m OPINION JUN JUL ISSUE 2022 | PG 33

The implementation of the rules requires a concerted effort by all state governments to avert policy divergence and amend existing regulations, if necessary, to make them consistent with the Rules The implementing agencies shall have to imbibe in their day to day working the proposed democratization of access by timely resolution of submissions And the definition of consumers shall have to span not only the ultimate consumers but also the assisting agencies like financial institutions, tech firms, social organizations, and policy advisors, who at all steps need to innovate for greening value chains

Considering procurement of modules from domestic manufacturers as required under the ALMM notification and use of imported cells by such manufacturers, an increase of 1 cent in cell price would require a 5 6 paise per unit increase in bid tariffs to maintain the same level of returns Further, the INR depreciation against the USD from 75 to 80 over the last 6 month period, is estimated to impact the cumulative debt service coverage metric by about 4 basis points, for a project at a given tariff Given the fixed and single part tariff under the PPAs for solar power projects, the uptrend in interest rates also remains a challenge for the developers and would put upward pressure on the bid tariffs An increase of 150 bps in the interest rate scenario is estimated to lead to an increase of up to ~20 paise increase in the bid tariff, assuming the other factors remain the same Nonetheless, despite the cost headwinds, the tariff rates for solar power projects are likely to remain highly competitive from the perspective of the state distribution utilities in relation to the marginal cost of procurement from thermal stations that are at the bottom 25% of the merit order dispatch, wherein the variable cost of procurement is more than Rs 3 0 per unit across key states CO RATINGS, ICRA LIMITED GIRISHKUMAR KADAM Notwithstanding the near term headwind related to cell and module prices and interest rates, the outlook for the renewable energy sector remains Stable, driven by favorable policy support, superior tariff competitiveness, large untapped potential, and the presence of strong intermediate procurers like the SECI.

One such policy measure is the Green Open Access Rules notified by the Ministry of Power recently to promote the adoption of renewable power by commercial & industrial (C&I) consumers However, the timely implementation of these rules by the state commissions remains to be seen This apart, the sector continues to face challenges on the execution front the inadequacy of transmission infrastructure and distribution utility finances

OPINION JUN JUL ISSUE 2022 | PG 34 SENIOR VICE PRESIDENT &

For Solar Power Developers In The Near Term

GROUP HEAD CORPORATE

| INDIA

While the bid tariffs have increased from the lows of Rs. 1.99 per unit in Dec ’20 to Rs 2 2 2 5 per unit, the extent of the increase in bid tariffs remained lower than our estimates, which is necessary to mitigate the increase in module prices

The cost of solar PV modules (Mono PERC) is up by over 40% to 27 28 US$ cents per watt in the past 18 months This was mainly driven by the disruption in operations across the value chain of the solar PV module manufacturing in China and the spike in the cost of polysilicon, a key input for module producers This elevated trend, along with the imposition of basic customs duty (BCD) on imported cells and modules, is leading to cost pressure for solar power projects awarded over the last 12 18 months

Elevated PV Cell Prices, Hardening Interest Rates, And Re Depreciation Against Dollar Likely Headwinds

The risk of moderation in returns is thus significant for projects aggregating to 4 4 GW awarded over the past 18 months, wherein the tariffs are below Rs 2 2 per unit As modules are required to be sourced from domestic OEMs under the ALMM notification for projects awarded post Apr ’21 and as a majority of the domestic OEMs do not have backward integration beyond cells, the dependence on wafer/cell imports is likely to continue over the medium term. As a result, the pricing trend for polysilicon and wafers/cells internationally would remain a key monitorable for solar power developers in India

JUN JUL ISSUE 2022 | PG 35| INDIA

It is now possible to design a load following a 100% RE based generation profile utilizing the geographically diverse RE sources (solar, wind, etc) complemented with battery storage, hydropower & green power markets, and supply to multiple beneficiaries located in different geographies in the country, thanks to a strong national and regional power grid

Disclaimer: Views expressed are personal to the author and do not attribute to the views of his organizations past or present | INDIA

The uncertainties in the variable cost of thermal fuel (coal and gas) are another major challenge and a burden on ultimate consumers

Prelude A large chunk of the greenhouse gases that cover the earth and trap the Sun’s heat is generated by burning fossil fuels Since energy is at the heart of climate change, it is evident that to avoid the worst impacts, emissions need to be reduced. The solution? Renewable energy sources which are available in abundance all around us, provided by the sun, wind, water, waste, and heat from the Earth are the solution as they are clean, accessible, affordable, sustainable, and reliable India has set an ambitious target of 500 GW of non fossil fuel based installed capacity by 2030 A recent step taken towards achieving this target is the Union Ministry of Power’s decision to replace about 58,000 million units (MU) of power produced from 30,000 MW capacity in central, state, and private thermal power stations, with renewable energy by 2025 26 This is definitely a welcome step and will help in moving toward the set direction. Here is what our experts had to say.

The above characteristics have historically led to problems of surplus sales for Discoms (esp in off peak winter seasons) and more pollution due to the continuous running of generating units at MTL on a daily basis owing to fluctuations in demand

The future of RE lies in designing the firm yet flexible load following RE generation profiles that can replace thermal sources as explained above, without impacting grid stability.

PERSPECTIVE JUN JUL ISSUE 2022 | PG 36

Replacement Of Thermal Power With Renewables By 2025 Ambitious or Achievable?

The above power is very much achievable at a commercially viable tariff much lower than Discoms’ average power purchase price as well as much lower than the thermal generation sources including pit head coal based stations Utilizing the transmission charges waiver available to RE stations commissioned before June 2025, the landed tariff of such load following 100% RE based RTC power at Discom periphery would be very competitive as well

Renewable Energy technologies have traveled a long way over past years to achieve grid parity in the electricity grid This has been achieved due to innovations in the RE space as well as material science Having achieved grid parity, RE is still considered “intermittent” and “variable” which is “not suitable” for stable and reliable grid operations Therefore, the topics of RE integration and grid balancing echo simultaneously with the topic of transition to RE While plain vanilla RE has seen offtake by the Discoms, thanks to the achieved grid parity of RE technology (solar, wind) and the Renewable Purchase Obligations, it was never considered as an alternative to “stable” thermal sources of generation In the year 2020, the guidelines for Round the Clock (RTC) power with at least 51% of RE mix, were published, while the other source would be thermal sources It was subsequently amended in the same year to include RE or RE powered sources like battery storage as the other sources of power (apart from 51% RE), thereby making possible a 100% RE based Round Clock power generation profile This was based on the availability concept (Megawatts) rather than Capacity Utilization Factor (CUF) concept (Energy focused).

SVP STRATEGY & OPERATIONS, UTILITIES & RETAIL ABHISHEK RANJAN

The flexibility of Renewable Energy sources in terms of generation profile with geographical diversity as well as seasonal variations provides unique strength to construct a “load following” RE generation profile matching the net demand curve of the Discoms To elaborate further, the round the clock demand profile of a Discom is never constant/flat and is subject to diurnal and seasonal variations owing to demographic and other natural factors Traditionally, the thermal sources (coal, gas) have been more “inflexible” and non load following owing to non flexible ramping characteristics high lead times (start up & shut down t nical limit (MTL) of thermal units

More so, the backing down of the thermal units below 85% of rated unit capacity leads to deterioration in auxiliary losses and Station heat rate parameters, thereby impacting the generator’s health as well as attracting “compensation payment” from Discoms over and above its total tariff

Fi 1 R l

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According to an analysis in IEA’s India Energy Outlook 2021, coal accounts for about 66% of total energy production in India in 2022, and is projected to reduce to 54% by 2030 Solar energy production, on the other hand, is projected to increase from 6% to 16% in the same time frame

Hence, we may infer that the decreasing proportion of thermal energy and the increasing share of renewables must lead to a situation where renewables provide all the energy that is currently being provided by thermal sources (mainly coal) However, there are at least four important factors that, when considered, indicate that the goal of achieving such complete substitution by 2025 is extremely ambitious for India

Further, the COVID pandemic has slowed down the energy transition journey, which implies that India will be coal dependent for a longer period than anticipated According to the International Energy Agency (IEA), investment in the energy sector fell by an estimated 15% in 2020, in the aftermath of the pandemic, worsening the financial stress across the board, and especially on India’s electricity distribution companies

Talking about “an imminent planetary crisis”, he had said that taking a BAU approach here “can only lead to disaster in the near future ” As we accelerate efforts to combat climate change, we must take cognizance of our overall approach towards it

Firstly, the trends in thermal energy and renewables and their extrapolation by a few years show that a complete substitution by 2025 is unrealistic Secondly, we need to factor in supply side constraints, which will apply in the case of rapid scaling up of renewables For example, the production of photovoltaic panels will have to rise dramatically for the 2025 deadline to be met We also have to consider the supply of associated electronics and storage systems, and the balance of systems required to achieve the substitution.

LATE ADVISOR TO THE CENTER FOR STUDY OF SCIENCE, TECHNOLOGY, AND POLICY (CSTEP) KRISHNA NYAPATI

Our discussion on the possibility and feasibility of replacing thermal energy with renewables in just a few years can start by reviewing the energy mix data at the national level, as indicated in the graph below It is immediately evident from the graph that till as recently as 2019, coal occupied a dominant place among the sources of energy, but is seeing a downward trend thereafter. On the other hand, the share of renewables (solar) has been steadily growing, with rapid increases

If we take these projections at face value and consider them as part of the BAU approach, it is quite clear that aiming for a complete replacement of thermal power with renewables by 2025 is indeed ambitious for India The global situation is not very different. ti t ibutions of coal and solar to power generation in India (2010 2040) in a BAU scenario

tlook 2021 PERSPECTIVE | INDIA

At the UN Climate Change Conference or COP26 last November, Patricia Espinosa, Executive Secretary of the United Nations Framework Convention on Climate Change, urged us to “recognize that business as usual isn’t worth the devastating price we’re paying” Former US Vice President and 2007 Nobel Laureate Al Gore had, way back in 2005, spoken on similar lines in his Commencement Address at Johns Hopkins University.

The push for clean energy transition as an effective climate action strategy is intensifying Since fossil fuels which include coal, lignite, and liquefied natural gas (LNG) are major greenhouse gas producers, they will have to be replaced with cleaner sources of energy production, broadly known as renewables (solar, wind, and hydro) In addition, natural gas, which is significantly less carbon intensive as compared to coal, is being used as a lower emission fuel during the energy transition

Finally, the recent geopolitical shocks caused by the war in Ukraine have increased spot prices for natural gas This will lead to fewer power producers using natural gas turbines to produce electricity, and resorting to coal instead The trend is likely to continue for another two years, due to which coal will probably remain the top source of power generation.

Regardless of quality verification test standards, a number of surface defects were observed Through the robust procedure of Fault Identification and Root Cause Analytics, the development of hot spots was spotted These hotspots impose a surging limitation on the performance of affected cells Moreover, it is believed that if such faults continue to penetrate into the solar panel frame, they can permanently deteriorate the modules

Henceforth, Mitsui Chemicals India carried out a test campaign to detect the EL defects of Tauktae affected cyclone modules." Power generation in India is endowed with abundant solar energy capacity Even so, the energy output of modules depends on external factors such as the intensity of the sun, load demand, environmental changes, etc Maintaining the intermittency of solar cells from unprecedented factors might not be enough And many valuable infrastructures are not ready to face such adversity yet. In this regard, the present study aims to analyze the impact of the persisting occurrence of Cyclones in the western regions of India Given all major atmospheric parameters, it could be noted that cyclones have the extensive capacity to damage a solar module Henceforth, Mitsui Chemicals India carried out a test campaign to detect the EL defects of Tauktae affected cyclone modules

Cyclonic Adversities to Deteriorate Photovoltaics in WEST INDIA

FEATURED INSIGHT JUN JUL ISSUE 2022 | PG 38

| INDIA

Amid the overall rising temperature, there is a high probability of cyclones becoming a regular phenomenon This, in turn, exhibits an unlikely impact on the capability of delivering energy and power losses.

Merely satisfying the highest standard requirements like IEC guarantees product durability or withstanding environmental factors? False IEC standards barely provide indicators for reliability, they simply qualify the production lot with minimum design qualification Question The Embryonic Stage

As observed in the case, climate change may result in performance degradation Thus, it is high time to take special adaptation procedures that are anticipated to be cost effective in long term

As a result, it was ascertained that had solar panels been under regular maintenance and new age infrastructural design, a substantial number of faults can be avoided Although cyclones are not common in the western regions of the country, Tauktae wreaked havoc with the highest intensity This has certainly resulted in an alarming condition not just for human life but the whole solar power industry

In addition, some of the other major EL Defects that were ascertained include:

For further information, please contact us at: https://in mitsuichemicals com/contact/ W chemicals com/index htm

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and

FEATURED INSIGHT | INDIA

The outcome of tests conducted includes a major impact on the frame If only one can increase the thickness of the frame so as to prevent shading, we can prevent potential impacts The main lesson that we can derive is that we should be more proactive in developing infrastructure that is easily adaptable to change Finally, we can replace the modules periodically, as they cross their threshold capacity We hope this case study addresses the concerned case and provides you with some information on the detection and reconstruction of the affected photovoltaics

Partial Dark cells Isolation Area

Mitsui Chemicals India investigated the impact of Tauktae Cyclone on PV performance both through noticeable differences and default detection The group has developed a protocol to emphasize factors that leads to performance degradation and significantly affect reliability Our in house developed and proposed test campaign not only reduces cost pressure from the manufacturer but also improves the quality and lifespan of the modules that are produced The two major diagnostic methods that were undertaken to identify failure prospects include Visual Defects Observation and EL Defects It can be seen from the visual experimental results that most of the solar modules include cracks, corrosion, and micro shading Along with a reduction in the tensile strength of the frame, wind gusts impact the flow of current to the ground Moreover, it reduces the dielectric strength of the material thereby, causes corrosion Since it is extremely difficult to rely on manual detection, the electroluminescence defect detection procedure was adopted While extending our core specialization in technical due diligence, relative intensity is captured and high, medium & low severity is marked. Wind storms have had several mechanical impacts with Poor Ribbon soldering accounting for the maximum intensity

Cracks Fingerline Interruption

Microcracks Shunts Branch

GoodWe’s energy storage inverter achieved another milestone with 60,000 units’ shipment and is continuing high-speed growth."

Recently, GoodWe was awarded the title of Most Efficient Asian Storage Manufacturer by Berlin University of Applied Science through SPI efficiency test, we know technology always comes from investment and accumulation, but few people note that this is the 10th year of GoodWe’s dedication to energy storage industry, experiencing accountable setbacks and honors along the way in order to achieve their mission and commitment. It was an extremely hot summer in 2012, a group of people in a leased plant were under intense discussion, the tickets were raised by local service team, which said some of the home owners and families suffered from hot waves without stable power supply due to the weak grid Solar energy had gradually become a realistic way to daily life but unfortunately incapable of generating enough power at night and under blackout At that time, GoodWe was like an infant just starting out, and had received preliminary recognition in the field of the on grid inverter After awareness of the market pain point, Chairman Daniel Huang was determined to invest in R&D of "PV+ energy storage" inverter products without any hesitation, as his original intention of establishing GoodWe was to contribute to the society and create a sustainable future by supplying cost effective and secure clean energy to different countries and regions

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From 2012 to 2017, the market demand for energy storage systems exploded over twentyfold, from 0.34 GW to 6 GW. In the same period, GoodWe hybrid inverters also realized the function to match with various models of LG, Tesla batteries, which indicated that GoodWe officially moved into the high end market and become one of the most important players in the ESS industry on a Road to

The first breakthrough came soon on May 2014 GoodWe’s first energy storage inverter ES series was installed in a 400 year old villa in Cambridge, UK, which indicated that GoodWe had gradually opened a new chapter in residential energy storage At that time, residential energy storage was still a relatively avant garde concept, and most of the products in the market were off grid, while the energy storage inverter could realize the energy storage function and at the same time, it could also achieve the residual power on grid without wasting any kilowatt of electricity

Miracle The Embryonic Stage Unlock ESS World after Accumulation COMPANY FEATURE JUN JUL ISSUE 2022 | PG 40

Creating Unfailing Energy,

Today the world is witnessing a shift in the way energy is being procured and consumed Some recent incidents to quote is geopolitical risk and economic recovery from Covid 19 have roiled the markets, driving oil and gas prices to their highest levels in nearly a decade and forcing many countries to reconsider their energy supplies According to the research of CICC, it’s estimated that the theoretical scale of global home storage is about 1,300GWh in 2030, and as of 2021, the installed capacity of global home storage is only about 20GWh, thus the development potential is huge It’s believed that factors such as the widening peak to valley price gap, the reduction of energy storage costs, and the expiration of FIT will drive the further improvement of the economy of home storage It’s expected that under the normal situation and the accelerated development of VPP(Virtual Power Plant ) the global installed capacity of home storage will reach 18/35GWh in 2025, corresponding to a CAGR of 29%/52% in 2021 2025, respectively Nowadays, sustainable energy supply has become a trend, the role for a ‘Smart Energy Innovator’ (GoodWe slogan) is the need of the hour as claimed by many world leaders and governments people are eager for comprehensive energy solutions to help them obtain sustainable and stable green energy GoodWe’s pipeline has also successively added photovoltaic building materials (BIPV), EV chargers and other products this year, endeavoring to be an all round solution of “EcoSmart Home”, the one stop solution for green living also debut at Intersolar, stunning the whole Europe

In 2021, GoodWe launched its own Lynx battery series, including low voltage and high voltage batteries in order to provide customers with a more comprehensive solution The matching solution of inverter plus battery do provided convenience for customers The same year, GoodWe’s energy storage inverter achieved another milestone with 60,000 units’ shipment and is continuing high speed growth.

JUN JUL ISSUE 2022 | PG 41

The Future of Endless Possibilities #CREATE #TOGETHER, CREATE TOGETHER, WIN WTOGETHER IN TOGETHER Mission

Opportunity always comes to those who are prepared Since 2018, GoodWe’s energy storage inverters were steadily being exported to Australia, Africa and European countries and received high recognition. After achieving a stable supply grade of annual shipments over 20,000 units, GoodWe finally became a major global manufacturer of ESS and was also ranked No 1 in the world for residential hybrid inverter shipments according to WoodMackenzie in 2020 Thriving

Growing &

COMPANY FEATURE | INDIA

Connect with

Last but not least, we have to pay tribute to all the pioneers and devotees on the road of developing energy storage and PV system GoodWe firmly believe that this is the correct direction which will insist on the mission of becoming a major driving force in the global e g benefits and value to the world A vast world, full of clean e sales@goodwe com | service@goodwe com https://en goodwe com/ of GoodWe us With the gradual reduction of FIT subsidies in major markets and the declining cost of energy storage system from 2019 self consumption was gradually becoming a trend The development of GoodWe's energy storage machines was even more momentous in order to meet the huge requirement and ensure the electricity supply in otherwise inhospitable areas

International market research company EUPD Research has awarded Growatt 19 ‘Top Brand PV Inverter’ seals, recognizing its preeminent brand position across global markets Growatt receives 19 ‘Top Brand PV Inverter’ awards from EUPD Research for achieving outstanding performance in terms of reliability, market penetration, brand awareness and satisfaction across global solar markets According to EUPD Research’s surveys and analyses, Growatt establishes itself as a best rated brand among solar installers across Europe, Latin America, Asia and South Africa. In particular, the company strengthens its leading position in top solar markets including Germany, Netherlands, Hungary, Italy, Poland, Scandinavia, Australia, Mexico, Colombia, Brazil, India, Vietnam and more “We are very much honored to be chosen and recognized by millions of customers around the world Thanks to our robust global distribution and service network, we are able to provide clear and convenient access to our advanced and reliable PV solutions for global customers, helping millions of customers transition to clean power supply and cut their electricity bills,” said Lisa Zhang, global marketing director at Growatt Against the background of increasing global demand for solar energy in recent years, Growatt has quickly expanded its network across the world Today, the company is already the world’s No 1 residential inverter supplier and also ranks among the global top 5 commercial inverter suppliers according to IHS Markit By the year 2021, Growatt has shipped over 3 8 million inverters and accumulated more than 40 GW installations across more than 150 countries and regions “With over a decade of experience, our R&D team has brought new upgrades and innovations in the energy efficiency, functional safety and intelligent solutions of our new generation inverters,” Zhang added Growatt’s new generation inverter X series features a sleek design, high yields, and easy yet powerful O&M functions Its battery ready inverter MIN 2500 6000TL XH has carried off ‘PV magazine award’, and the commercial inverter MAX series has won ‘All Quality Matters’ award by TÜV Rheinland for achieving first rate performance in numerous safety and reliability tests “Our commitment to high product quality and technological innovations is one of the reasons why global customers favor our PV solutions,” Zhang concluded a new record with

19 ‘Top Brand PV Inverter’ seals awarded by EUPD Research COMPANY FEATURE JUN JUL ISSUE 2022 | PG 42

| INDIA

Growatt sets

Thanks to our robust global distribution and service network, we are able to provide clear and convenient access to our advanced and reliable PV solutions for global customers, helping millions of customers transition to clean power supply and cut their electricity bills,” said Lisa Zhang, global marketing director at Growatt."

COMPANY FEATURE JUN JUL ISSUE 2022 | PG 43

Adapting to India’s diverse climatic scenarios

In the current scenario of unprecedented uncertainty, safeguarding developer’s investment, and futureproofing it has emerged as a top priority for investments in solar. LONGi’s Lifecycle Quality address an important gap by securing the customer value and providing a safety net

Beyond Sales: Adding true customer value

LONGi Lifecycle Quality- the best bet against the uncertainty and guarantee of quality.

Reliable technology: multiple assurances in innovation, management and customer values

Based on the company’s brand concept of 'customer value first', 'LONGi Lifecycle Quality' was established to guarantee that its products perform reliably and efficiently throughout their lifespan, allowing clients to achieve a high return on investment throughout the entire lifecycle of a PV plant To protect the rights and interests of its customers, LONGi adopts digital methods to handle the anti counterfeiting validation of each module and has also set up post sales services To solve global customers’ problems in a timely fashion, LONGi has set up over 10 marketing and service centers in its global core markets to provide a local service 24/7. LONGi not only responds to its customers’ needs in a timely manner during the after sales phase but, at the very beginning of business communication, the company also provides efficient and professional advice in terms of product selection, cooperation planning, business support, logistics and transportation

The LONGi Lifecycle Quality concept was created from a blank canvas. Adhering to an innovative concept based on reliability, LONGi aims to rapidly transform its technological innovations into large scale production capacity, further reducing LCOE With this objective in mind, the company’s R&D team has re doubled the efforts which have enabled LONGi to consecutively break industry world records, with a view to the company’s lifecycle quality concept becoming the benchmark for the PV industry India is an especially challenging geographical domain with heat and dust along with strong coastal winds and frequent cyclones, the monsoons also give great challenge to installations

Operating globally, PV modules find themselves confronted with various climatic challenges, such as hail, storms, heavy snow and high temperatures LONGi products are designed to withstand challenges of this type, due to the company adopting different testing methods to simulate a comprehensive set of application scenarios at its Reliability Testing Center

Looking closely at diverse climatic conditions, LONGi has for some time used comprehensive aging testing, simulating application scenarios such as low latitude monsoon tropical rain forest mountains and deserts to better verify product reliability under real world scenarios

To solve global customers’ problems in a timely fashion, LONGi has set up over 10 marketing and service centers in its global core markets to provide a local service 24/7." LONGi aims to rapidly transform its technological innovations into large scale production capacity, further reducing LCOE." | INDIA

The energy storage market is also gradually maturing, costs continue to decline and the growth of storage across all major sectors is beginning to show Solis has increased its own manufacturing capacity to easily adapt to this growth and the shift towards energy storage products

Solis Takes No. 3 Position in Global Inverter Rankings COMPANY FEATURE JUN JUL ISSUE 2022 | PG 44

The move towards carbon neutrality is being super charged by the unprecedented increase in global energy prices 2022 is showing a continued upward trend in the demand for solar PV especially in the European market where the forecasted installed capacity is constantly revised up The compound growth rate of installed capacity in Europe is expected to increase by more than 40% from 2022 to 2025

Ginlong (Solis) was the first publicly owned and stock listed company with a primary focus on solar string inverters During 2021, facing multiple challenges such as the spread of COVID 19, increasing supply chain costs and the shortage of IGBT's, the company maintained rapid development. Operating revenue in 2021 reached 512 90 million USD, up 58 92% YoY and net profit increased to 73 36 million USD Q1 2022 sees growth of 48 96% v's the same period the previous year with sales exceeding 173 billion USD, a new record high!

International authoritative research institution IHS Markit (part of S&P Global) announces the top 10 global solar inverter shipments for 2021 with Ginlong (Solis) taking the No 3 position

According to the research, Solis not only leads the distributed inverter shipments in relevant regions around the world, but also for the first time ranks top 10 in the global shipments of utility power stations According to TF Securities, in the bidding of utility power stations of central/state owned enterprises in China, string inverters accounted for as much as 81% in 2021 Globally, string inverters accounted for more than 70% of utility scale projects 10% higher than 2020

The share of string inverters for utility scale projects globally has been as high as 80% 90% in Poland, Germany, Vietnam, Thailand and many more String inverter technology has gradually narrowed the cost gap to centralized inverters, accelerating the penetration into the utility power station sector Other factors such as its wider MPPT working voltage range, simpler maintenance, large scale power of a single inverter etc have also helped drive this growth

The newly built automated and highly digitalized factory has a capacity of 40GW+ Solis is committed to a global vision built on product centered engineering, developing the global strategic pathway of "Ginlong" and "Solis" independent brands As markets develop there will always be a focus on strengthening the localized sales network, technical support and after sales service The company's mission of "Developing technology to power the world with clean energy" underpins this Globally, string inverters accounted for more than 70% of utility scale projects10% higher than 2020."

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Photo Credit: Polavarapu Venkata Kiran

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Reduced emissions from deforestation and forest degradation (REDD/REDD+)

Nature-based

Solution @ EKI Energy Services Ltd. PRODUCT FEATURE JUN JUL ISSUE 2022 | PG 45

Afforestation/Reforestation/Forest

Conservation Blue Carbon Ecosystem Conservation

Nature based Solutions (NBS) are powerful sustainable and locally appropriate solutions that harness the power of nature to address a whole range of environmental, social and economic challenges, including climate change. A well designed NBS can play a pivotal role in not only reaching net zero emissions but also mitigating the adverse climate change with the protection, restoration and management of natural and semi natural ecosystems, economic recovery and biodiversity conservation whilst supporting other sustainable development goals. NBS is also cost effective, collaborative and easier to implement At EKI, we champion the implementation of nature based solutions to offset carbon emissions We are one of the leading companies in climate change the industry with the finest technical experts in the NBS domain thus enabling greater conservation of nature and green financing We have also joined hands with Shell Overseas Investments B V to reduce carbon emissions through Nature based Solutions through the sustainable management, conservation and restoration of ecosystems to build resilience to adapt to the adverse effects of climate change Our service offerings under Nature based Solutions include: We carry out a site specific study to understand key factors affecting the natural ecosystem Post completion of the feasibility study, we work together through the carbon project cycle We also help our partners in devising a case to case basis action plan to mitigate climate change and build resilience amongst communities through improving the ecosystems around them Additionally, we organize awareness generation and capacity building programs for stakeholders to address these challenges and to build the institutional capacities to demonstrate NBS We carry out a site specific study to understand key factors affecting the natural ecosystem Post completion of the feasibility study, we work together through the carbon project cycle We also help our partners in devising a case to case basis action plan to mitigate climate change and build resilience amongst communities through improving the ecosystems around them Additionally, we organize awareness generation and capacity building programs for stakeholders to address these challenges and to build the institutional capacities to demonstrate NBS Climate Change Mitigation & Resilience Improved Agriculture and Land Management

Limited funding has restricted the adoption of these solutions We are determined to bring innovation and strategic solutions to stakeholders through financial support to catalyze the conservation efforts and restoration of forest resources We assist in developing a robust mechanism for the development of interventions and provide technological support for monitoring, reporting, and verification (MRV) for the long term sustainability of the projects We provide end to end project management services to protect, restore and manage coastal ecosystems including mangroves, marshes, coral reefs, etc for their role in reducing the impacts of global climate change We identify stressed ecosystems and prepare an in depth revival plan Our interventions follow a bottom up approach, where the overall decision making lies in the hands of communities, with us being facilitators. This is critically important to ensure the success of the projects, we give emphasis on standards established by Verified Carbon Standard, Gold Standard, Clean Development Mechanism, whose guidelines outline the best practices that help in a revival of the ecosystem services We provide a robust monitoring system to halt the degradation of forest land parcels We have a team of highly experienced professionals The team is responsible for scoping, designing, and Conceptualizing REDD/REDD+ interventions. We offer end to end project management services to ensure the synergy between livelihood enhancement of c onservation, and climate mitigation

“LONGi Lifecycle Quality” standard establishes a system that is in line with a real world outdoor environment, effectively evaluating the outdoor risks for modules, and maximizing customer value based on product reliability, and safety of investments

LONGi products are designed to withstand challenges of this type, due to the company adopting different testing methods to simulate a comprehensive set of application scenarios at its Reliability Testing Center In India, global warming has caused multiple and frequent bouts of cyclonic activities, droughts, heavy rainfalls and long spells of intense summer, all these factors combined make India one of the most challenging regions globally for operating solar panels, and the need for reliability of solar equipment is much higher here PV products and technologies should be based on LCOE and take into account cost, energy yield, reliability and feasibility, with system value analysis performed in tandem with application scenarios After considering all boundary conditions, the M10 module is the best size for a utility scale power plant and future technological innovation should be centered on increasing efficiency and not just the wafer size

Adapting to Indian Climatic Conditions

LONGI’s focus is on cell innovation not on increasing the wafer size

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India Needs $223 Billion To Meet 2030 Renewable Energy Target: Report (bqprime.com)

182mm size module is a standard that LONGi has introduced to the industry after an in depth analysis of the whole industry chain, incorporating manufacturing, transportation, installation, power generation performance and system matching, also taking into account the boundary conditions of module design and application

The glass performance in larger modules is impacted by the influence of the process, with frame stress increasing, the margin of junction box diodes decreasing, and the packaging method during transportation making it difficult to ensure the reliability of the modules Based on the double glass structure and under the premise of controlling the cost of the frame, module size should not exceed a certain limit, otherwise, the ability to withstand static and dynamic loads will be significantly compromised, increasing the potential for frame damage, glass bursts and higher quantities of cracks leading to excessive module attenuation under laboratory testing and outdoor application conditions

The value proposition of 182mm M10 module in larger solar applications As cell efficiency becomes higher and module size larger, product power continues to increase, and reliability risks are also potentially increasing As a product that will be used for 25 years and possibly more, a PV module can bring sustainable value to global customers only on the premise of reliability As a product that will be used for 25 years and possibly more, a PV module can bring sustainable value to global customers only on the premise of reliability

PRODUCT FEATURE JUN JUL ISSUE 2022 | PG 46

LONGi’s approach is to consider LCOE as the foundation for product value, incorporating economy and reliability

There is no sustainability without reliability How LONGi’s value proposition of 182mm M10 module in larger solar applications is critical for safeguarding and future proofing investments in solar In a recent report from Bloomberg New Energy Finance (BNEF), solar equipment is considered one of the top three important criteria for lending to the IPPs and is also one of the top ten risks mentioned by the IPPs from the Indian perspective 1 Operating globally, PV modules find themselves confronted with various climatic challenges, such as hail, storms, heavy snow and high temperatures

PRODUCT FEATURE JUN JUL ISSUE 2022 | PG 47

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Sungrow “1+X” Modular Inverter Sungrow, the global leading inverter solution supplier for renewables, officially launches the brand new central inverter “1+X” Modular Inverter earlier this year. “1+X” Modular Inverter is the most innovative central inverter solution that Sungrow is promoting worldwide, and it is expected to lead the next generation central inverter designation for large scale utility solar plants The cutting edge technologies of this product center on one keyword “Modularization”. “1+X” inverter solution boasts modularization at the inverter level, the system level and the component level Three level modularization makes power plant design more flexible and post O&M more convenient in the future Firstly, the “1+X” modular inverter features a 1 1 MW single unit as the minimum, but the block capacity can be expanded to the max 8 8 MW by combining 8 units just like building blocks. Customers can choose from 1.1MW to 8.8 MW to meet their best demands Secondly, the system modularization makes PV module configuration more flexible to extend The inverter supports maximum of 2 times DC/AC ratio 1+X modular inverter has 42% more MPPT than the traditional central inverters, and it realizes the string level management by the new wireless DC combiner. Increased MPPT and more refined management lead to higher electricity generation The DC/ESS interface built in this solution also supports connecting to the energy storage system, enabling customers to enjoy the storage function for future energy usage Thirdly, the component modularization realizes the plug and play function, reducing the maintenance from 6h to 2h Moreover, since each inverter also works in an individual unit, it can be directly replaced by an onsite backup inverter if a failure occurred Hence, the three level modularization, once again, sets this gigantic product apart from others

The cutting-edge technologies of this product center on one keyword “Modularization”. “1+X” inverter solution boasts modularization at the inverter level, the system level and the component level."

Ultra-high Power Module for the Ultimate 600W+ Era

210mm silicon wafer brings the highest power output: The 500W+ Vertex module employs cells based on 210mm silicon wafers, which is the largest possible wafer size provided by the semiconductor industry and brings the highest power output

Technology Specifications Based on Trina Solar’s leading multi busbar technology, Vertex modules incorporate 210mm silicon wafers, non destructive cutting and high density interconnect technologies, allowing over 600W power output and 21.4% module efficiency. By virtue of low voltage and higher module string power output, the new Vertex series unlocks huge potential for further reducing balance of system costs

MBB technology leads to a 0.4% 0.6% increase in module effi ciency: Multi busbar, with the capability to increase light absorption, perfectly matches the large area cell Technology integration enables the Vertex series modules to achieve higher power and power generation capacity per watt High density interconnection technology optimizes module efficiency: By flattening cell connection areas of welding tape, the cell spacing is reduced to 0 5mm to optimize power output and efficiency, which will leave a certain gap to reduce yield risk, micro cracks and damage to the modules

Ultra-high Power Module for the Ultimate 600W + Era | INDIA

PRODUCT FEATURE JUN JUL ISSUE 2022 | PG 48

As a global leading provider for photovoltaic (PV) modules and smart energy solutions, Trina Solar delivers PV products, applications, and services to promote global sustainable development Since its establishment in 1997, Trina Solar has been driven by innovative, reliable quality and customer value With its top notch research and development of ultra high power modules, Trina Solar has led the industry into the 600W+ era, with a host of high power, high efficiency, high yield, and highly reliable products, offering new opportunities to further save the system costs of projects and ensure the interests of customers. Trina Solar Vertex series modules, with a module conversion efficiency of over 21 4%, boasts of a power output of over 600 W Incorporating 210mm cells, the new Vertex series modules are designed for utility and rooftop installation in large commercial & industrial projects and come in two versions the bifacial double glass modules and mono facial back sheet modules

NDC technology brings the best cell performance at chip level: Non destructive cutting technology is adopted to achieve the best cell bending strength and section appearance, resulting in the best performance for the minimum cell unit

Fraunhofer ISE, the world’s leading applied research third party organization, has conducted research on the LCOE advantage and value of 210mm Vertex modules in all scenarios It is found that the CAPEX and LCOE of the new generation of 210mm (G12) Vertex modules are lower than those of the 182mm (M10) modules and the traditional 166mm modules In the mode of 210mm mono facial module + fixed tracker, the LCOE of the G12 Vertex 670W modules is 4 5% lower than the M10 585W modules and is 7 4% lower than the M6 455W modules In the era of grid parity, the advanced Vertex 210mm series of modules have a prominent edge in BOS and LCOE costs It sets a new cost saving standard, ultimately ensuring the project’s earnings and maximizing customer value, making PV solar energy more cost competitive

Trina Solar’s bifacial dual glass Vertex 600W module DEG20C 20

This rooftop installation is expected to generate 2.6 million kWh in the first year, reduce 2,160 tons of carbon dioxide emissions, and save about RMB 1 4 million in electricity costs In the 25 year service life of the PV power station, the total power generation is expected to reach 62 53 million kWh, reducing carbon emissions by approximately 52,000 tons and saving the factory nearly RMB 33 76 million in electricity costs! In addition, Trina Solar provides a 25 year power warranty and a 12 year product warranty for the Vertex 600W+ ultra high power mono facial modules, ensuring the long term successful operation of the project The project is expected to be connected to the grid by the year end temperature

The 210mm Vertex 600W+ modules guarantee power generation for 25 years, saving the Linyi factory’s electricity costs and contributing to the target of carbon emission reduction

Trina Solar’s Vertex series modules are designed for utility and rooftop installation in large commercial & industrial projects Over the past year, the 600W+ Vertex modules have proven to be highly reliable and adaptable. Plants equipped with 600W+ modules can be found worldwide, including in the 850 MW super large project in Brazil and the 112MW PV agricultural project in Da Chaidan in Qinghai, northwestern China Trina Solar’s 2MW commercial project was successfully completed on the roofs of a large scale factory building in Linyi, Shandong Province In the first phase, around 40,000 m2 roofs were installed with PV modules, with an installed capacity of 2MW The project uses Trina Solar’s 210mm Vertex ultra high power modules, including 1 5MW of 600W mono facial modules and 0 5MW of 670W mono facial modules. The installation of the modules took only around 20 days from the beginning to the end of last October The construction period has been greatly shortened compared to the past which indicates the truly convenient installation of ultra high power modules!

Product Warranty Additional Power Gain Power WarrantyYears FROM THE REAR SIDE IN DIFFERENT INSTALLATION ENVIRONMENTS LOWER WORKING TEMPERATURE RESULT IN MORE GENERATED POWER Better

coefficient (INCIDENT ANGLE MODIFIER) AND LOW LIGHT PERFORMANCE, Excellent IAM Mechanical performance 5400 Pa 2400 Pa So far, more than 50% of industrial and commercial projects globally have selected and applied 600W+ modules The reason for choosing Trina Solar Vertex 600W+ modules is that the ultra high power modules are designed to reduce the cost of the distributed power stations and significantly increase their revenue The 210mm ultra high power modules are getting inevitably popular in the era of grid parity when distributed scenarios have been fully upgraded Products with a higher power range and high energy yield represented by the 210mm Vertex modules will fully guarantee the investment income of distributed projects by virtue of their outstanding advantages Conclusion Benefitted Customer Segment The 210mm Vertex 600W+ modules guarantee power generation for 25 years, saving the Linyi factory’s electricity costs and contributing to the target of carbon emission reduction Didyouknow? Technology Advancements JUN JUL ISSUE 2022 | PG 49 PRODUCT FEATURE | INDIA

Trina Tracker Vanguard 2P Trina Solar, founded in 1997, is the world leading PV and smart energy total solutions provider The company engages in PV products R&D, manufacture and sales; PV projects development, EPC, O&M, smart micro grid, and multi energy complementary systems development and sales, as well as energy cloud platform operation By 11 April 2022, Trina Solar has delivered more than 100 GW of solar modules worldwide and ranked on the list of “Top 500 Private Enterprises in China” In addition, Trina’s downstream business includes solar PV project development, financing, design, construction, operations and management, and one stop system integration solutions for customers. Trina Solar has connected over 5.5GW of solar power plants to the grid worldwide TrinaTracker specializes in the design, manufacturing, installation, and maintenance of fixed tilts and solar trackers With more than 5 GW developed worldwide, the company has offices on the five continents and has more than 300 projects carried out TrinaTracker is thus the perfect partner for large scale solar projects Trina trackers offer flexible solutions adapted to the client’s needs We offer customized services and the widest portfolio of products across the entire value chain. The highly qualified team and state of the art R&D department offer responsive support to our clients’ needs TrinaTracker has a worldwide reputation for delivering high quality and reliable solutions TrinaTracker’s in house production facility and worldwide supply chain network offer the highest quality with reduced lead times ensuring the best client support. Trina Tracker’s Vanguard 2P is a 2 in portrait independent tracker with very high flexibility to suit different complex terrains It reduces piles by 45% thus remarkably diminishing construction costs and difficulty Vanguard 2P is equipped with a wireless communicator for the effective implementation of extreme weather protection SCADA system enables Vanguard 2P to perform system monitoring, early warning, smart diagnosis, and troubleshooting facilitating cost reduction and increase in the energy output Vanguard 2P thus increases reliability and reduces O&M costs significantly

Optimized Bearing Design: The global patented spherical bearings offer up to 30% angle adjustability They alleviate the damage caused by uneven foundation settlement during operation They also release the extra stress caused by the deformation of the tracker system, which leads to a significant reduction in the load and failure rate of each component Wind tunnel tested by RWDI: TrinaTracker collaborated with prestigious agency RWDI to conduct a series of wind tunnel tests for continuous tracker design improvement The optimized components and reinforced structure guarantee lower failure risk and better system stability.

Innovative SuperTrack Technology: The smart algorithm of the tracking system optimizes tracking angle (up to 30% angle adjustability) according to the real time weather and actual terrain conditions (Optimized terrain adaptability up to 15% N/S) This leads to an increase in receiving radiation and a reduction in shading loss A total tracking yield gain of up to 8% can be derived! Vanguard 2P is thus the best for challenging sites such as irregular layout, undulated terrain, and high wind regions

Trina Tracker’s Vanguard 2P is an ultra advanced tracker which delivers optimized performance for large scale solar projects

The extraordinary features of Vanguard 2P are: Extremely Compatible with Larger Modules: Vanguard 2P is compatible with modules up to 670W+ The tracker is designed such that it helps to reduce LCOE by 2 4% 4 5% with larger modules

Fewer Piles Per MW: The standard configuration is 7 piles per row (standard configuration), the number of piles per MW has thus been optimized in Vanguard 2P Up to 45% fewer piles!

Vanguard 2P Technology Specifications

Introduction About TrinaTracker

Upgraded Multidrive System: Vanguard 2P is equipped with an upgraded multidrive system that helps in better wind tolerance, high adaptability, and synchronization This system is adopted to effectively reduce torsional loads from buffeting. Therefore, the upgraded multidrive system greatly improves the stability of the system

More Modules Per Tracker: Vanguard 2P is designed with a two in portrait configuration (2P), with up to 4 strings of 1500V system per row. A total of up to 120 modules per tracker can be accommodated

PRODUCT FEATURE JUN JUL ISSUE 2022 | PG 50| INDIA

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Technology Advancements Vanguard

TrinaTracker has achieved a considerable reduction in the failure rates by upgrading its previous 2P model with a new tracker design in Vanguard 2P that incorporates a smaller number of components This means that the upgraded Vanguard 2P requires fewer maintenance activities, lower O&M expenditure, and lower power loss!

Hence, Vanguard 2P leads to a remarkable increase in reliability and reduction in the O&M costs The estimated O&M cost reduction achieved with TrinaTracker Vanguard 2P with regard to the previous 2P tracker model, is 33%!

17 Vanguard 2P trackers are enough to complete 1 MW ( 50%), compared with 33 previous model 2P trackers required to complete the same capacity Tracker weight was reduced ( 16%) per MW, from the previous 2P model (≈ 59.60 ton) to Vanguard 2P (≈ 49 60 ton)

Vanguard 2P can withstand extreme weather conditions like severe wind and heavy Bearings ( 49%) Motors ( 50%)

The reduction of critical tracker components per MW is: There is a 26% decrease in the bolted joints per MW (which are potential failure points) in the new Vanguard 2P Vanguard 2P design is compatible with large format modules 670+W. Therefore, less number of modules are needed for the same installed capacity. 2P Suits Any & Every Terrain And Weather

Each Vanguard 2P tracker can handle 0.062 MW (+101%) compared to 0.031 MW installed in the previous 2P series.

Conditions PRODUCT FEATURE

Tata BlueScope Steel is an equal joint venture between Tata Steel and BlueScope Steel in the field of coated steel, steel building solutions and related building products The Company operates in the Asia Pacific region. Tata BlueScope Steel maintains high standards in Safety, Health and Environment and has been certified by SGS, for ISO 9001, ISO 14001 & ISO 45001 certifications Tata BlueScope Steel’s core values are Safety, Trust, Human Dignity and Excellence The company consistently works towards “Creating Your New World in Steel Tata BlueScope Steel Pvt. Ltd

ILIOS is available pan India through manufacturing facilities at four different locations. This enables an on time delivery with faster project completion."

ILIOS® offers a wide variety/ option of structural section range; making it suitable for every requirement. These customized mounting structures are manufactured from cold rolled Zn Al/Zn coated steel with high corrosion resistance, weight optimization and quick installation The high strength steel ensures better load bearing capacity and longer spans ILIOS® is one step forward in consolidating Tata BlueScope Steel offerings for the solar segment under a single Brand These specialized solutions enable an integrated approach, in terms of design detailing, engineering support, installation and material supply So far ILIOS® has been associated with major projects across India, amounting to 1.4+ GW capacity. To fulfill the challenging needs of the industry, Tata BlueScope Steel’s R&D team of experts has constantly strived in improvising the product offerings with Innovation and Quality at its core A team of design engineers helps in optimizing the weight of the mounting structures thereby reducing the overall cost of the structure and in turn the cost of the Project ILIOS® is available pan India through manufacturing facilities at four different locations This enables an on time delivery with faster project completion. The solar segment is poised for exponential growth in the near future It is essential for us to provide optimised and high quality solutions for bridging the demand supply gap With ILIOS®, Tata BlueScope Steel aims to offer customised solutions suitable for every customer’s requirement.”

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LYSAGHT® by Tata BlueScope Steel manufactures and markets roll formed roof and wall cladding profiles and caters to the ongoing demands of the B2B industry For over 150 years the brand has been providing high quality cladding solutions, structural products and accessories to the industrial, infrastructure and commercial segments the world over Additionally, it has also established itself as an expert in re roofing and retrofitting jobs With expertise in construction & engineering, so far and has given cladding solutions to more than 30 million square meters in the span of over 10 years LYSAGHT® Engineering and Construction services are well known for implementing world class safety practices for all its sites, globally ILIOS® from Tata BlueScope Steel offers solar module mounting solutions for ground mount and rooftop applications ILIOS® comes with Zn Al/Zn alloy coated high strength structural steel that ensures corrosion resistance and longer life ILIOS® Solar Module mounting structures are available through established LYSAGHT® network

Tata BlueScope Steel launched its indigenous brand ILIOS® a Solar Module Mounting Solution to cater, to the increasing demand of the renewable energy sector in India With ILIOS®, Tata BlueScope Steel has addressed the demands for quality products under its flagship brand, for both roof and ground mounting solutions

Weaving Perfect Synergy for Solar Energy About LYSAGHT® About

ILIOS a High Strength Light Weight Solar Module Mounting Solution ® Highlights PRODUCT FEATURE JUN JUL ISSUE 2022 | PG 52

Fimer commissioned a unique 100kW floating solar+Storage plant for the prestigious CESC in Kolkata

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Established in 1942, FIMER is an Italian company, one of the world's largest, tier one, renewable energy equipment suppliers Specializing in solar inverters, energy storage solutions and electric mobility systems, FIMER offers a comprehensive solar solutions portfolio across all applications: residential, commercial & industrial and Utility scale

JUN JUL ISSUE 2022 | PG 53

FIMER MGS100 microgrid system can supply power to connected loads by utilizing PV power utility power DG and battery power. Depending on different power conditions, this microgrid system is designed to continuously support loads from PV solar panels, batteries, and utilities If the PV module's MPP input voltage is within acceptable limits, this inverter can generate power to feed the loads and charge the battery FIMER recently commissioned a unique 100kW floating solar plant with a storage facility for the prestigious CESC in Kolkata CESC, the local power utility service provider in Kolkata tries out microgrids to manage critical supplies They recently commissioned a floating solar plant of 100kWp with a 218kWhr battery energy storage facility to ensure a stable power supply to critical operations in case of grid failure caused by a technical snag or an extreme event such as a cyclone The project was commissioned at its Chakmir substation near Maheshtala. The microgrid can continue to provide power from the 100kW power generated at the floating solar plant during the day while the 218kWH battery energy storage system can keep the system running for two hours after sunset Microgrid helps maintain uninterrupted and quality power supply for essential services, improving the overall resilience of the grid It will supply the local load of the substation, sourcing green power from the floating solar plant. The BESS system will ensure an uninterrupted power supply in case of the failure of grid power the entire system can be operated in both on grid and off grid modes

FIMER MGS100 microgrid system can supply power to connected loads by utilizing PV power, utility power, DG and battery power.

PROJECT FEATURE

Plantdetails:100kW Storage:218kWHr Sourceofpower:solar+grid+ battery Product:#fimerspaMGS100 80/100microgridinverter

Recently, FIMER has supplied its PVS800 1MW X 4 nos to IOCL Rawara, Jodhpur, Rajasthan through Zodiac energy FIMER PVS800 central inverters are ideal for large PV power plants but are also suitable for large sized power plants installed in commercial or industrial buildings High efficiency, proven components, compact and modular design and a host of life cycle services ensure FIMER central inverters provide a rapid return on investment

KN Sreevatsa, FIMER India’s Country Managing Director said: “FIMER’s inverters represent the ideal solution for solar applications, as demonstrated in the successful installation of Zodiac’s many rooftops and ground mount projects Our wide range of best in class products along with fantastic service and support provided by our channel partners is boosting the quick adoption of solar energy in the country We intend to bring in more innovative technologies in the future to h its vision of being a self reliant and self s p with 500 kWp of Solar PV plant, avg annual generation will be 9,00,000 units (kWh) and CO 2 emissions reduced approx. 730 tons per year."

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PROJECT FEATURE

FIMER powers maximum petrol pumps in the state of Gujarat & Maharashtra in India

FIMER installed over 500 kWp Rooftop Solar System power plants at various petrol pumps in Gujarat, Rajasthan & Maharashtra in partnership with Zodiac energy system one of India’s top EPC players in the C&I segment

JUN JUL ISSUE 2022 | PG 54

Shri Kunj Shah, Managing Director of Zodiac Energy, said: “As FIMER’s authorized channel partner in Gujarat, we are pleased to bring their European inverter technology to our state Gujarat Gujarat tops all other states by accounting for 25 percent of solar rooftops in the country It is always rewarding to help our customers progress in their sustainability journey, helping them to achieve carbon savings and optimized energy yields ”

Zodiac Energy has installed over 500KWp Rooftop solar plants in various petrol pumps belonging to IOCL Most of the inverters installed in these pumps have been supplied by FIMER, an Italian inverter manufacturer. Some of these installations are at Ahmedabad, Palanpur, Gandhinagar etc with 500 kWp of Solar PV plant, avg annual generation will be 9,00,000 units (kWh) and CO 2 emissions reduced approx 730 tons per year

India has over sixty thousand* petrol pumps spread across the length and the breadth of the country Indian Oil Corporation Ltd (IOCL) is an Indian government owned leading oil and gas explorer & producer All these petrol pumps typically have empty rooftop space which can be converted to rooftop plants In some petrol pumps located far from the city, even ground mounted solar plants are installed Installing a solar plant enables savings on electricity costs along with providing clean green energy. In India, many attractive schemes are also propagated through government state agencies to encourage the adoption of solar energy From an operational point of view as well, a reliable power supply is critical for the smooth functioning of fuel pumps In the event of a power cut, the dispenser instantly shuts down, resulting in a loss of fuel, money and time for the pump operators Most fuel pumps run on a 24x7 operations format, therefore, efficient and reliable power management is of paramount importance With ever rising electricity and fuel costs, all businesses including fuel pumps are always under pressure to control operating costs To combat growing operating costs, adopting renewable energy like solar power has proven to be cheaper than grid electricity and a reliable source of power, helping with higher efficiencies and reduced downtimes.

30MW PV+Agricultural hybrid project, located in Wanghu Town, Wulian County, Rizhao City, Shandong Province, officially started construction in July 2020, and was successfully connected to the grid on December 12, 2021 Kehua configured 10% 2 hours, i e 3MW/6MWh energy storage system solution for the project

Website: www.kehua.com Mail: marketing@kehua.com With 30MW PV+Agriculture Solution, Kehua Helps Economic and Ecological Double Harvest PROJECT FEATURE

After the completion of the project, the average annual electricity revenue reaches 15,5126 million yuan. The project can save 15,700 tons of standard coal, reduce 0,12 million tons of sulfur dioxide, 0,06 million tons of nitrogen oxides, reduce carbon dioxide emissions by about 39,200 tons, and reduce 10,700 tons of carbon dust

JUN JUL ISSUE 2022 | PG 55

As more and more PV projects came up, PV and agriculture are gradually finding more and better combination points

On a field of medicine in Houniniu Village, Shandong Province, photovoltaic and herbs have become "close friends". This is a 30MW PV+Agricultural hybrid project in Wanghu Town, Wulian County It is a typical PV+Agriculture power station Traditional Chinese medicinal materials are planted under the board, while power generation is generated on the board. It realizes multiple uses in one place and greatly increases the efficiency of land resource utilization

30MW PV+Agricultural hybrid project in Wanghu Town, Wulian County Project Information

The project manager of Kehua said, "We have carried out more than ten PV supporting energy storage projects in Shandong, and we know a lot about the local energy storage configuration requirements and grid connection regulations We have the strength to help our customers' PV projects to be connected to the grid quickly. The solution we configured for this project has a high degree of system integration, using a 3MW energy storage unit with safety and stability and high integration " With over 34 years of experience for renewable energy, Kehua began to implement the concept of PV + ESS for the Future For now, Kehua has received the TOP 10 solar inverter brands used in term loan financed projects from Bloomberg and No 5 world storage inverter supplier from IHS Markit In the future, Kehua will continue to accelerate and increase the layout of the energy storage market, provide customers with higher quality and more valuable products and system s e the development of the global g

Project Houniniu Village, Wanghu Town, Wulian County, Rizhao City, Shandong Province, China Location 30MW Project Scale: 3MW/6MWh Energy Storage Scale: | INDIA

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It is a well known fact that China has built and led the global solar push in the past decade “China has more solar energy capacity than any other country in the world, at a gargantuan 130 gigawatts It is no wonder that the vast, sun drenched plains of north and north western China have become home to huge solar farms,” quoted from BBC All this comes even as China is actively pushing its decarbonization agenda to become a carbon neutral economy by 2060 According to Wood Mackenzie, the energy consultancy, the global solar powerhouse is set to add another 619 GW of solar energy by 2030 Reaching that goal will require innovation in the application of green technologies and business models. Keeping up with this vision new & innovative solar projects are being adopted as a reliable & clean source of energy GoodWe, the world leading PV inverter supplier, has greatly empowered the recent 80MW PV project in northwest China's Gansu province

Once an important hub along the original Silk Road, Gansu province has seen commercial and cultural exchanges between the East and West since ancient times Because of China’s new Belt and Road initiative, the past “pearl” of the trade route has once again caught the world's attention and is glowing again Against such a backdrop, the recent PV project in Gansu’s Dunhuang and Zhangye cities undoubtedly gives additional force to the rebirth of this area The project has not only ensured the effective use of the local solar energy but also optimized the local economic and industrial structure, significantly contributing to its environmental protection and economic development Situated at the edge of the vast Gobi Desert, Dunhuang city boasts long hours of strong sunshine throughout the year, but it is thus characterised by dry air, high temperatures and widespread dust Harsh environmental conditions like these make for high demands for advanced & powerful solar technologies. Inverters installed outside are required to be subjected to high temperature fluctuations and sandstorms Because of the proven cutting edge technology and reliable performance in projects worldwide, 356 sets of GoodWe GW225K HT inverters are used in this project, ensuring an annual average power generation of 186 84 million kWh There is also a significant reduction in carbon dioxide emission by 142,800 tons This is a huge driving factor for us to partner with more innovators and continues #ReshapingSmartEnergy GoodWe’s 225kW string inverter features IP66 water and dust protection with IP68 external cooling fans while providing excellent corrosion resistance It can be operated under a wide temperature range of 40 ℃ to 60 ℃ and is adapted to various complicated cases Meanwhile, in such arid and outskirt areas, the inverters offer a Remote Monitoring System which not only saves time & cost but also makes O&M much simpler and hassle free

PROJECT FEATURE JUN JUL ISSUE 2022 | PG 56

80MW PV Project in Gansu, China

Making the “Pearl” on the Old Silk Road Shining Again – GoodWe Demonstrates Prowess in the 80MW PV Project in Gansu, China

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GoodWe is a world leading PV inverter and energy storage systems manufacturer listed on the Shanghai Stock Exchange (Stock Code: 688390). The company has more than 3 000 employees located in 20 different countries and a team of over 500 engineers working at its R&D centers to continuously optimize and advance energy storage technology GoodWe storage inverters were ranked No 1 globally by Wood Mackenzie in 2020, with over 20% market share, and the company was ranked one of the world’s Top 10 inverter suppliers by IHS Markit Having achieved over six consecutive TÜV Rheinland "All Quality Matters'' awards and consistently being ranked at the top in terms of overall product quality, GoodWe’s comprehensive portfolio of products and solutions for residential commercial and utility scale PV systems is guaranteed to deliver high performance and reliable quality across the board About GoodWe About GoodWe HT series

The new HT Series seamlessly incorporates different sets of technical strengths intended to achieve higher savings in the installation, enhancing productivity and diversifying the monitoring options available, taking safety to the maximum possible level in accordance with the most demanding national standards. This utility scale solar inverter also introduces innovations and technological flexibilities that make it highly compelling as a viable utility option The result of this extensive list of advantages is a well conceived, harmonious, technologically advanced and asset owner centered inverter that is also aesthetical

Desert in Dunhuang city, Gansu province, China

Danxia Landform in Zhangye City Gansu Province, China

The GoodWe team aspires that the HT Series can be considered as a supply option for new utility and C&I projects all over the world and not only meets but exceeds our customers’ expectations https://en goodwe com/ht series three phase utility scale solar inverter

sales@goodwe com | service@goodwe com https://en goodwe com/ Connect with us PROJECT FEATURE | INDIA

As a world leading PV inverter and energy storage systems manufacturer, GoodWe has never stopped seeking technological innovation With its continuous investment in ground mounted power plants and large scale energy bases, GoodWe has been recognized by more and more customers and can definitely play a key role in developing global solar markets and helping more cities and areas take advantage of renewable clean energy

GoodWe storage inverters were ranked No. 1 globally by Wood Mackenzie in 2020, with over 20% market share, and the company was ranked one of the world’s Top 10 inverter suppliers by IHS Markit."

Saatvik’s product roadmap includes Poly Modules /MONOPERC module /Half cut MBB 530 Wp and higher Modules utilising M10 Cell technology About Saatvik About BHEL Bharat Heavy Electricals Limited is an Indian government owned engineering and manufacturing enterprise based in New Delhi, India BHEL directly operates under the ownership of the Indian Ministry of Heavy Industries and Public Enterprises, Government of India |

Saatvik secures solar modules supply order for Solar project in Mauritius 2022 | PG 58 Saatvik is the leading Indian PV Module Manufacturer with a 1 GW annual production capacity in Ambala, Haryana, and delivered more than 1 GW modules across India Saatvik is expanding its capacity to 3 GW by 2023 with the new plan set up in Gandhidham (Gujarat).

PROJECT FEATURE JUN JUL ISSUE

Saatvik Solar secured an order for manufacturing and supply of 9 3 MW Mono Perc Half cut MBB modules in a reverse bidding auction through BHEL Supply of these modules to be made at 8 MW solar project at Tamarind Falls, Henrietta (Phase II), Mauritius. Bharat Heavy Electricals Limited (BHEL) has signed an agreement to set up a grid connected 8 MW Solar Photovoltaic (PV) power plant in Mauritius to help the island nation in its efforts to fight climate change The project is funded under the Government of India’s Line of Credit (LOC). BHEL will set up the solar farm at Tamarind Falls, Henrietta (Phase II), Mauritius and was awarded to BHEL by CEB (Green Energy) Co Ltd, Mauritius, a wholly owned subsidiary of the Central Electricity Board (CEB). The contract agreement for the project was exchanged between the Mauritian and Indian sides, during the visit of the Minister of External Affairs of India, S Jaishankar to Mauritius Mr Prashant Mathur, Chief Executive Officer, Saatvik Green Energy said, “We are honored to have won this momentous order from BHEL. It underlines the industry’s confidence in our ability to develop and deliver world class solar modules using a state of the art manufacturing facility ”

INDIA

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This year the ‘SolarQuarter Leadership Awards 2022’ became grander with the presence of the industry leaders and contributors to the Solar Sector in Rajasthan and Madhya Pradesh. Making these events grander we were glad to welcome our Guests of Honor Shri. N.S. Nirwan, Managing Director, Ajmer Vidyut Vitran Nigam Limited and Mr. Ajay Yadav, President, REAR Renewable Energy Association for Rajasthan’s award ceremony, and Mr. Ajay Shukla, ExecutiveEngineer,MadhyaPradeshUrjaVikasNigamLimitedandMr.Mridul Khare, Founder, Latent Renewable Energies for our Madhya Pradesh’s award ceremony.

Shri N.S. Nirwan, Managing Director, Ajmer Vidyut Vitran Nigam Limited

Atmanirbhar India State Business Leader Solar91 Cleantech Pvt Ltd State Market Leader Award: Modules Saatvik Green Energy Pvt Ltd

Solar System Integrator Of The Year ANS Solar Energy Innovation of the Year Solar Bees Pvt. Ltd State Distributor of the Year Wattkraft State Distributor of the Year: Rising Star (Inverter) Oneindig Technologies Pvt Ltd Solar EPC Company Of The Year: Gold Solar91 Cleantech Pvt Ltd

Atmanirbhar India State Business Leader: Modules Waaree Energies Limited State Market Leader Award: Inverter Havells India Limited State Market Leader Award: Structures Purshotam Profiles Private Limited Waaree is one of the major players in the solar energy industry in India focused on PV module manufacturing. The company currently operates four manufacturing facilities comprising five factories in India with a track record of manufacturing high quality and technologically advanced PV modules Havells offers end to end solar solutions to every segment of Rooftop customers Its operations include thirteen state of the art manufacturing plants in India and have more than 300 MW of grid tie inverters commissioned to date Purshotam is India's leading manufacturer of Module Mounting Structure with a manufacturing capacity of more than 7200 MT per month for tubing and more than 25,000 ule Mounting Structure AWARDS2022

INDIA

RECOGNIZING & HONORING STATE BUSINESSMEET RAJASTHAN

Honorary Awards: Unveiling the proud winners: The company is a passion project by 4 engineers cum environment enthusiasts with dreams of Energizing India It envisages every household and industry with available roof space to use cleaner and greener sources to reduce pollution Saatvik manufactures solar PV modules in Bifacial, Mono Perc, and Polycrystalline formats It is the 1st Indian Company to introduce 545wp Bifacial in the Indian market which is BIS/ALMM certified by the Ministry of New & Renewable Energy ANS has been a pioneering leader in the Solar space of Rajasthan With installed Residential Capacity of 10 MW and Commercial of 20MW, they are great promoters of clean energy solutions

SolarQuarter State Leadership Awards: ||

Solar Bees has developed India’s first IoT device with Machine Learning and Artificial Intelligence capability with a mobile/web portal to give access to solar generation, net export/import, consumption, and battery storage on a single platform Wattkraft is a leading distributor of photovoltaic inverters and solar modules, guaranteeing their customers high quality components, professional advice, and support The company had a portfolio of 700 MW in Rajasthan in the last fiscal year The company provides complete EPC solutions as well as Hybrid On grid and OFF Grid Inverters The company has a portfolio of 20MW and has served 100+ satisfied customers Solar91 has over the last 6 years, worked with over 80+ clients across 11 states and successfully completed 180+ residential, commercial, and industrial projects In Rajasthan, the company has installed 75 C&I Projects of 30 MW and 50 Residential Projects of 300 330KW.

JUN JUL ISSUE 2022

State Channel Partner Award: Modules Orbit Solar System State Customer's Choice Award: EPC Ecomitram Sustainable Solutions Pvt. Ltd. Orbit is into renewable energy since 2019 and associated with Waaree energies since its incorporation. It is an exclusive Waaree Partner with all product ranges They are techno friendly organizations and try to enhance technology in their daily work Ecomitram till now has done 10,000+ KW rooftop & ground mount solar projects in 10+ different sectors with over 30% of repeated orders They have a team of young and expert engineers with an in house team for sales, projects, design, INC, and O&M

AWARDS JUN JUL ISSUE 2022 | PG 60| INDIA

Rama Reflection has developed, financed, engineered, constructed, and currently operates many of India’s largest grid connected PV power plants in existence In Rajasthan, it has installed 4 MW Rooftop and 20 MW Utility scale projects in the last fiscal year. SNS Corporation is an authorized distributor for Huawei Grid Tie Inverters and has a highly qualified service engineers network across Northern & Western India, that helps its customers with after sales issues like commissioning support and Onsite/Remote service LONGi is a leading solar module manufacturer. In the last 5 years, they have done a supply of over 7 5 GW in India The winning technology is their module HiMo5 Bifacial which has smart soldering, Bifacial, MONO PERC, and over 21 4 cell efficiency and standardization of M10 wafer size which is 180mm globally.

State Customer's Saatvik Green Ene gy Saatvik is recognized as one of the fastest growing and leading brands engaged in the manufacturing of Solar PV modules With technology enabled integrations, it has supplied more than 1 GW capacity module across the country for rooftop, utility, floating, and other govt. marquee projects

The Initial turnover of 3 4 Lakhs has reached 10 Crores in 2021 22 and further 2022 23 is estimated to close around 20 Crores under his leadership Mr Agrawal started EverSolar in 2013 and aspired to grow this company with a vision to establish it as one of India's most Trusted Solar EPC brands Under his leadership, the company is emerging as one of Jaipur's most Trusted Solar EPC companies with the main focus on residential Rooftop space With his constant endeavor of believing in Growth Marketing, our leaders and his team thrive to run the business which emphasizes its clients by making responsible choices in their investment of energy consumption.

Mr Sharma is a co founder team member and an IIT graduate, possessing a deep technical knowledge in the field of solar which provides him an edge to lead project execution teams by example The technocrat turned businessman spends enough time with the team on the ground for exemplary engineering & design His commercial skills are unmatched and his authentic approach and high levels of customer centricity are hugely appreciated by clients Mr Jain’s leadership provides direction, encouragement, inspiration, and motivation to his team to achieve organizational success Having a rich experience of 7 years in the sector, he has initiated RESCO projects in the company

Solar EPC Company Of The Year: Silver Rama Reflection India State After Sales Service Award: Inverter - SNS Corporation State Technology Leadership Award LONGi Visionary of the Year Pawan Sharma, Co Founder & Director, Rays Power Infra Pvt Ltd Business Leader of the Year Shashank Jain, Director, Ecomitram Sustainable Solutions Pvt Ltd Emerging Leader of the Year Prateek Agrawal, Managing Director, EverSolar.

For over a decade AutoSys has built successful, reputable businesses that make a positive impact in India They have developed a unique place to have a single window for all solar related products, materials, accessories, and services at a single place. The company has developed around 180 solar projects in Madhya Pradesh in the last fiscal year Sungrow is the world’s most bankable inverter brand It is a global player and leader in the research and development of solar inverters with the largest dedicated R&D team in the industry and a broad product portfolio offering PV inverter solutions and energy storage systems for utility scale projects

The company has been a pioneer in the Utility Scale segment in the state of Madhya Pradesh. The company provides a full range of high quality inverters and turnkey solutions that provides customers with the reliability and efficiency desired for utility scale installations Sungrow as a leader of innovation in the solar industry possesses a dynamic technical R&D team Offering a wide range of solutions and services, the company is committed to providing clean power for all and is steadfast in its efforts to become the global leader in clean power conversion technology. It provides a complete portfolio of system solutions tailored to the needs of C&I customers, minimizing their daytime energy costs Havells is India’s major power distribution equipment manufacturer with a strong global presence. Its operations include thirteen state of the art manufacturing plants in India

STATE LEADERSHIP MADHYAPRADESH AWARDS2022 JUN JUL ISSUE 2022 | PG 61

Solar Developer of the Year AutoSys Indore

Startling is a leading solar system integrator In Madhya Pradesh, the company has done a total installation of 719 KW in the last fiscal year They have installed multiple solar plants in the commercial and Residential segment winning rders from their highly satisfied Solar System Integrator Of The Year - Startling Solar Pvt Ltd State Market Leadership Award: Inverter (Utility Scale) - Sungrow India Pvt. Ltd State Market Leadership Award: Inverter (C&I)Sungrow India Pvt Ltd State Market Leadership Award: Inverter (Residential) Havells India Limited

Solar EPC Company Of The Year: ResidentialAnant Energy Solar EPC Company Of The Year: IndustrialEnergyGreen TechnoPower Pvt Ltd Best After Sales Service Provider of the Year: Distributor Shridhar Renewable Energy Pvt. Ltd

Anant is a Renewable Energy Company headquartered in Bhopal with experience of 200+ Solar Installation and a presence in 7 states. The company has installed more than 230 residential projects in Madhya Pradesh in the last fiscal year It is one of the reputed EPC players in this segment EnergyGreen is one of the most experienced Solar EPC players in Madhya Pradesh and is one of the fastest growing companies in the field of solar and energy efficiency spread in 21 states of India Being a leading EPC player in the Industrial segment they have done an installation of 4 5MW in Madhya Pradesh in the last fiscal year Shridhar has done a total capacity distribution of 4MW in Madhya Pradesh in the last fiscal year. With their expertise in After sales services, they have won many repeated satisfied customers, The company has a base of 150+ clients.

Shri N.S. Nirwan, Managing Director, Ajmer Vidyut Vitran Nigam Limited

State Leadership Awards: Unveiling the proud winners

The project innovation by URON is one of the "first & the Largest Solar PV Bifacial Plant '' installed on an Industrial Roof & one of the first of its kind in the state of Madhya Pradesh The entire project is deployed with completely automatic ROBOTIC DRY Cleaning. It is the 1st and the only company across India to use P605 which is a 1:1 ratio power optimizer for this unique project The entire project is executed with a completely non penetrative structure on the roof Not a single puncture on the roof was done for the installation of the solar project Best Project Innovation of the Year URON Energy INDIA

The company offers end to end solar solutions to Rooftop customers and is one of the leading brands in Madhya Pradesh’s solar industry It is a one stop solution provider, from designing to execution, and being a frontrunner in driving the latest technologies

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AWARDS JUN JUL ISSUE 2022 | PG 62

State Distributor of the Year: Platinum Celestial Renewexperts LLP

Business Leader of the Year Sharad Lathi, Director, Trade Plus Resources And Solutions Pvt Ltd Emerging Leader of the Year Rajan Munjal, Leader Channel Sales, Sungrow India Pvt. Ltd.

Solar Acumen of the Year Ravindra Sharma, Director, AutoSys Indore To know more about our awards visit us at:https://solarquarter.com/studio/

State Distributor of the Year: Gold Trade Plus Resources And Solutions Pvt Ltd State Distributor of the Year: Rising Star Spinkraft Venture Private Limited State Market Leader Award : EPC (C&I) Pickrenew Energy Pvt Ltd State Technology Leadership Award

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LONGi Trade Plus offers customized solar energy solutions for homes, businesses, farms, townships, hotels, hospitals, and educational institutes They work for On Grid Solar & Off Grid Solar Systems and are unique to have complete solar solutions under the same roof, including Solar PV Modules, Structure, inverter, and BOS. Spinkraft has a wide ranging in house experience and a network of trusted collaborators to facilitate sustainable energy systems. With their focus on customer satisfaction and timely delivery, they have grown to be one of India’s Largest Solar Distributors in a short span of 1 year The company has already started its distribution in Madhya Pradesh as well Pickrenew within a span of 2,5 years has bagged 32 orders from various Industries of Madhya Pradesh The company specializes in the installation of industrial rooftop projects and has installed about 21 MW of projects in Madhya Pradesh The company strongly promotes the Make in India campaign and has used Indian make Solar modules in various of its projects. LONGi is a leading solar module manufacturer In the last 5 years, they have done a supply of over 7.5 GW in India. The winning technology is their module HiMo5 Bifacial which has smart soldering, Bifacial, MONO PERC, and over 21 4 cell efficiency and standardization of M10 wafer size which is 180mm globally CEO of the Year Narendra Thakre, Director (Projects) & CEO, EnergyGreen TechnoPower Pvt Ltd Mr Thakre is a hardcore rural development professional having worked on various Renewable Energy projects for the last 15 years Under his leadership since its inception, the organization today spread its operational area in 21 states, having many Maharatna and NavRatna companies on its client list Narendra believes in a 0% credit policy and therefore has 0 market credit. He believes in maximizing employment generation and doubling business growth every year By doing this they have achieved an apex level in the

Celestial is India’s leading organization, delivering a premium range of Solar products They also provide support for electrical infrastructural development and provide services for coordination with government agencies for solar net metering and all other approvals They deal in premium solar products from top brands. Mr Somani has a rich professional experience of 20+ years in the Renewable Energy sector. He has worked on PAN India projects on more than 1000 MW of wind & solar industries He has been handling all levels of business planning, development & execution, sales, and marketing, finance, liasioning, policy making, dealing with regulators, P&L, and asset management Under his leadership, within a span of 2 5 years the company has bagged 32 orders from various Industries of Madhya Pradesh totaling 21 MW and total order values of more than INR 70 Crores. Mr Lathi is an aggressive leader and successful businessman with 15 years of industrial experience. He has an extensive portfolio of overhauling business processes and systems while prioritizing customer and business objectives In addition, he has a passion for leading teams to surpass strategic goals while investing in their personal and professional growth With his enterprising spirit and skills, he has crossed the 10 crores target of last year and is now targeting 35+ crores in the current financial year Mr. Munjal is a self motivated leader, always seeking opportunities with total dedication His concept of life is to put in the work today to better tomorrow With 12+ years of rich professional experience, he drives the sales for the organization Leading the national sales for one of the top brands of inverter companies he has achieved many milestones Mr Sharma has been in the solar industry for 5+ Years Under his leadership, the company has grown twofold. They have achieved the title of the best installer in the last MP discom Tender Time management, customer satisfaction, problem resolution, transparency in payments, employee welfare, and technological advancements are some of the key areas of his expertise.

Entrepreneur of the Year Sumit Kumar Somani, Founder & Director, Pickrenew Energy Pvt Ltd

GUJARAT STATE BUSINESSMEET 20 22 STATE BUSINESSMEET KARNATAKA 20 22 NETWORKING KNOWLEDGE For Speaking & Sponsorship Opportunities, contact: events@firstviewgroup.com INISGHTS INDUSTRY AUG 26 OPPORTUNITY SHARING SEP 09 Bengaluru Ahmedabad 2:30 PM 4:30 PM (IST) Time SEP 08 SOLAR MARKET OUTLOOK: RAJASTHAN WEBINAR CONFERNCE & AWARDS WEBINAR WEBINAR GRANDMASTERS INDIA AWARDS2022 SEP 09 New Delhi

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