SolarQuarter- India Apr-May Issue 2023

Accumulative shipments of Trina Sol modules totaled 140GW while 210mm module shipments exceeded 65GW b 2023, ranking first globally

INDIA NEWS

Investments

Goldi Solar Ties Up With Yes Bank to Finance Solar Projects for MSME Customers

YES BANK Launches “YES KIRAN” to Offer Financial Assistance for Solar Panel Installation to MSMEs

NLC India to Raise Up To ₹5,000 Crore Through Debenture Issuance, Approves Subsidiary for Renewable Assets

Solar Ladder Raises ₹11 Crores in Seed Funding for Supply Chain Platform

REC Limited Lists its $750 Million Green Bonds on GIFT IFSC Stock Exchanges

Navitas Solar Raises $5M for Expanding Manufacturing Capacity

KKR to Invest Additional $250 Million in Indian Decarbonisation Platform Serentica Renewables

IFC Invests ₹1,140 Crores in IndiGrid for Sustainable Development and Reliable Power in India

BPCL to Invest ₹600 Crore in 240 MW Renewable Power Capacity Project

RBI Announces Framework for Green Deposits to Foster Sustainable Finance in India

Alchemie Ventures Invests $4 Million in Prozeal Infra for Solar Projects

Vibrant Energy Secures ₹2,200 Crores Financing from PFC for 300 MW (AC) Wind-Solar Hybrid Projects

REC Ltd Raises $750 Million Through Green Bond Issuance

SAEL’s Renewable Energy Projects Get a Boost with $161 Million Bond Issuance

Avaada Group Secures ₹961 Crore PLI Grant For High-Efficiency Solar PV Modules

IndiGrid’s Strong Performance in FY23: Acquires 538 MWp Solar Portfolio and Raises Q4 DPU, Sets FY24 Guidance at ₹13 80/Unit

Goldi Solar Ties Up With Yes Bank to Finance Solar Projects for MSME Customers

IndiGrid Signs Agreement to Acquire Virescent Renewable Energy Trust for up to ₹4,000 Crore

Projects

PTC India Collaborates With Brookfield Renewables For Long-Term Purchase Of 100 MW Solar Power

Avaada Energy Wins 280 MW (DC) Solar Project From RUVNL

Insolare Energy Completes Impressive 70 MWp Solar Park In Maharashtra

SJVN Bags 200 MW Solar Project In Gujarat’s Khavda Solar Park

Dollar Industries Receives TNERC Approval To Install 4 MWh BESS With 2 MW Of Solar Project In Tamil Nadu

NTPC Renewable Energy Bags 500 MW RE-RTC Project By Railways Energy Management Company

HFM Solar Commissions 1 8 MW Rooftop Solar Plants At Delhi Metro Under RESCO Model

KPI Green Energy Commissions 26 1 MW Wind-Solar Hybrid Power Project In Gujarat

Mizoram Leads The Way With The North East’s First 20 MW Vankal Solar Park

INOX Air Products Commissions 21 3 MWp Solar Power Plant In Uttar Pradesh

ems’ Subsidiary SWELECT Taiyo Commissions 7

n Tamil Nadu

Green Hydrogen

Rising Demand for Hydrogen in Transportation Critical for India’s Energy Transition, Says ISA DG

ACME Group and IGL Join Hands to Explore Green Hydrogen Opportunities

Avaada Group Secures $1 Billion Funding for Green Hydrogen and Solar PV Ventures from Brookfield

Gujarat Kick-starts Hydrogen Valley Project to Develop a Localised Clean Hydrogen Value Chain

ReNew Energy’s Diamond II Ltd Raises $400 Million Through Green Bonds

Uneecops Technologies to Set Up World’s First Green Hydrogen Microgrid in Leh for Major Hydro-Power Company

Jakson Green to Develop India’s First Urban-centric Green Hydrogen Refuelling Station in New Delhi

Waaree Renewable Technologies to Execute 1 MW Green Hydrogen Project in Maharashtra

NTPC Ventures into Hydrogen Hub Development in Andhra Pradesh, Expanding Green Energy Solutions

IIT(ISM) Dhanbad Pioneers ‘Hydrogen Valley’ at Nirsa Campus in Collaboration with Prominent Institutes

NTPC Green Energy and HPCL Mittal Energy Collaborate for Renewable Energy and Green Hydrogen Initiatives

Oriana Power Brings 1 MWp Floating Solar Power To Rajasthan’s Dabok Mine

Avaada Energy Bags 200 MW (DC) Solar Project From GUVNL

SJVN Green Energy Awards INR 132 64 Crore Contract For BOS Package To BVG India For 100 MW Solar Project In Punjab

Roofsol Energy Commissions 4 MWp Rooftop Solar Plant At Mirza International Limited

Everrenew Commissions 27 5 MW Solar Project In Karnataka

Amp Energy India Emerges The Lowest Bidder In CESC’s 150 MW

Wind-Solar Hybrid Auction

Amp Energy India Emerges The Lowest Bidder In CESC’s 150 MW Wind-Solar Hybrid Auction

Amp Energy India Commissions 30mwp Solar Open Access Project In Uttar Pradesh, Saving Marquee Customers Up To 45% On Energy Costs

Totalenergies ENEOS Partners With Bedmutha Industries For 3 MWp Rooftop Solar Project In India

Avaada Energy Wins 560 MW Solar Project Bid In E-Reverse Auction Conducted By MSEDCL

KPI Green Energy Charges 61 97 MW Of Solar And Wind-Solar Hybrid Capacity

Jakson Green Secures Over 1 GW Of Renewable EPC Orders Across India, Africa And The Middle East Regions

Enerture Wins Consultancy Contract For 110 MW Solar Power Project In Karnataka For KMF

Leading Textile Manufacturer In Punjab Goes Solar With 10 5 MWp Rooftop Plant By Roofsol Energy

Avaada Energy Wins 421 MW (DC) Solar Project In India

Waaree Renewable Technologies Wins Contract To Develop 221 8

MWp Solar Project For Major Indian Steelmaker

INOX Air Products And TP Saurya Bandita Team Up For 40 MWp Solar Power Plant In Maharashtra

Indigrid Commissions Pilot Solar Panel And Battery Storage Project In Maharashtra

Sunsource Energy Commissions 9 MW Solar Open Access Project For Varun Beverages In Uttar Pradesh

Godrej Secures EPC Projects Worth ₹20 Billion, Including 20 MW Solar Plant Order in West Bengal

TP Saurya Inks PPA with Tata Power Trading Company To Set Up 200 MW Solar Project in Rajasthan

Tender

Meghalaya Tenders for ADB-Funded Grid-Connected Solar and Battery Storage Projects

PEDA Announces 7 MW Ground-Mounted & Rooftop Solar Tender in Chandigarh

Singareni Collieries to Set up 240 MW Solar Plants in Nine Locations

TCMPF Issues Tender for 30 MW Renewable Power Procurement

BHEL Invites Bids for Operation and Maintenance of 65 MW Solar Power Project in Tamil Nadu

JDVVNL Invites Bids for 32 76 MW of Grid-Connected Solar Projects under PM-KUSUM

Mumbai Metro Invites Bids for 7 1 MW Rooftop Solar Project

JDVVNL Invites Bids for 32 76 MW of Grid-Connected Solar Projects under PM-KUSUM

Kerala Invites Bids for 1 25 MW Rooftop Solar Projects in Thiruvananthapuram

Mumbai Metro Invites Bids for 7 1 MW Rooftop Solar Project

NTPC REL Invites Bids for 9000 MWh Energy Storage Solutions in India

Haryana Power Purchase Center Invites Bids for 500 MW Solar Power through Competitive Bidding Process

ICAT Floats Consultancy Tender To Expand 1 2 MW Solar Plant In Haryana

MAHAGENCO Invites Bids for 62 MW Grid-Connected Solar Power Project in Maharashtra

Maharashtra Invites Tenders for 615 MW Solar Projects Across Four Regions

SECI Issues BOS Tender To Develop 300 MW Ground Mounted Solar PV Project in Ramagiri, Andhra Pradesh

Indian Railways Floats Tender To Develop 1 MW Rooftop Solar Facility In Nagpur

NTPC Renewable Energy Invites Bids for 300 MW Solar PV Project in Gujarat

HPCL Issues EPC Tender For 11 MW Solar Projects In UP & Haryana

nder For Developing 300 MW Floating Solar

Amp Energy India Emerges The Lowest Bidder In CESC’s 150MW WindSolar Hybrid Auction

Delhi’s Hauz Khas to Get Solar-Powered EV Carport Soon

Sterlite Copper Joins Forces with Serentica Renewables to Establish 16 MW Captive Hybrid Renewable Energy Project

SJVN Announces Plans for 5 GW Pumped Hydro Storage Projects to Boost Renewable Energy Infrastructure

KPI Green Energy Receives CEIG Approval for 9 40 MW Wind-Solar Hybrid Power Project

PT Pertamina Installs Rooftop Solar Power Plant With a Total Capacity of 326 25 kWp At Gadjah Mada University

Saint-Gobain Signs 189 MW Solar-Wind PPA with Vibrant Energy for Six Local Sites in India

NHPC Receives Letter of Intent for 200 MW Solar Power Project from Gujarat Urja Vikas Nigam

KPI Green Energy Completes 10 18 MWdc Solar Power Projects, Receives Commissioning Certificates

Neyveli Lignite Corporation Invites Bids for 200 MW Solar Power Project on ISTS Grid

WBPDCL Publishes EoI for Consultant Selection for 500 MW Floating Solar PV Project at Bakreswar Dam with ADB Financing

SECI Announces Tender for 2000 MW Solar Projects in India

SECI Invites Bids for Up To 5 MW Rooftop and Ground-mounted Solar Projects

SECI Issues BOS Tender To Develop 300 MW PV Project in AP

Maharashtra Invites Bids for 225 MW of Decentralized Solar Projects Under PM-KUSUM Component-A

GSECL Call for Bids to Select Consultant for 1 5 GW Floating Solar Park in Gujarat

RECPDCL Seeks Solar Project Consultants for Project Management Services

Amritsar’s Solar City Project Commences with 74 Govt Buildings Equipped with Solar Panels in Phase-I

PEDA Announces 7 MW Ground-Mounted & Rooftop Solar Tender in Chandigarh

Meghalaya Tenders for ADB-Funded Grid-Connected Solar and Battery Storage Projects

NTPC Renewable Energy Invites Bids for HT Power Cable Supply Package for 1,255 MW Solar Block in Gujarat’s Khavda RE Park

SJVN Green Energy Seeks Bids for 140 MWp of Solar PV Modules in Punjab

Gujarat Urja Vikas Nigam Ltd Tenders for 800 MW Solar Projects with Greenshoe Option

NTPC Tenders for Operation and Maintenance of Solar Plants up to 50 MWp

RUMSL Invites Bids for 13 8 GW Pumped Hydro Storage Projects in Madhya Pradesh

BPCL Tenders for 7 56 MW Ground-Mounted Solar Project in Maharashtra

Ayana Renewable Power Secures Landmark Tender to Deliver 300MW Round-the-Clock Renewable Energy to REMCL

UPNEDA Invites Bids for Operation and Maintenance of Mini-Grid and DDG Solar Power Plants in Uttar Pradesh

Ministry of Power Introduces Revised Day-Ahead National Merit Order Dispatch Mechanism to Reduce Electricity Prices

The Ministry of Power has finalized a revised structure of Day-Ahead National level Merit Order Despatch Mechanism with a view to lower the overall cost of electricity generation, which will translate into lower electricity prices for consumers As per the revised mechanism, the Merit Order for cheapest generating resources across the country to meet the system demand, would be, finalized a day in advance as against 1 5 hours in the existing system This will result in better planning for generating units and cost optimization Moreover, the revised mechanism will also enlarge the scope of present mechanism by including all the regional entity thermal power plants and subsequently all the intra-state thermal generators In the existing system, only the NTPC thermal stations were part of the merit order despatch

Mukhya Mantri Saur Krishi Vahini Yojana to Lower Power Costs and Support Farmers: MSEB Official

The Maharashtra State Electricity Board Holding Company has launched the ‘Mukhya Mantri Saur (solar) Krishi Vahini Yojana’ to provide uninterrupted day-time supply to farmers and reduce the purchase cost of electricity Under the scheme, land will be leased for 30 years for solar power generation, with the government paying ₹1 25 lakh per hectare as rent The aim is to generate 7,000 MW of electricity, requiring 28,000 acres of land, with plans to start the scheme by December 2025 Independent Director of the MSEB Holding Company, Vishwas Pathak, believes the scheme will bring down power purchase costs from ₹8 per unit to ₹3-3 50 per unit Farmers will receive electricity at the same rate as now, ₹1 5 per unit

Uttar Pradesh Announces 100% Stamp Duty Exemption for Solar Project Land Acquisition

The Uttar Pradesh government has announced a 100% exemption of stamp duty on land purchased or leased for setting up new solar plants and IT and logistics parks The principal secretary with the UP government, Leena Johri, issued the government order The exemption will be applicable on land purchased or leased for at least a 10-year period The exemption is also applicable to the purchase or allotment of land for truckers’ parks and solar energy units by industrial development authorities The government

MNRE Releases REIAs-wise Bidding Calendar for 50 GW Renewable Energy Projects in FY 2023-24

The Ministry of New & Renewable Energy (MNRE) has announced its bidding plan for renewable energy projects, with a target of 50 GW for the fiscal year 2023-24 The Renewable Energy Implementing Agencies (REIAs), including SECI, NTPC, NHPC, and SJVN, have been asked to coordinate with each other to avoid concurrent bids SECI and NTPC Ltd have been assigned the responsibility of issuing tenders for a total of 15 GW renewable energy projects each, out of which 12 5 GW will be for solar/hybrid/Roundthe-Clock (RTC) projects and 2 5 MW for wind projects Similarly, NHPC Ltd and SJVN Ltd have been tasked with issuing tenders for 10 GW each, out of which 7.5 GW will be for solar/hybrid/RTC projects and 2.5 MW for wind projects each The bidding process will follow the standard guidelines issued by the government and the instructions for renewable energy tenders issued by MNRE

MNRE Grants 2 Month Validity Extension to Solar Manufacturers in ALMM List-I

MNRE has extended the validity of solar manufacturers from its Approved List of Models and Manufacturers (ALMM) after their validity expired on March 9, 2023 These manufacturers were the first to be featured in the ALMM list published on March 10, 2021 The ministry received requests from many of these manufacturers to extend their validity, and the ministry has granted extensions to them from March 9, 2023, to May 9, 2025 The list has been revised several times since its first publication in March 2021 The ministry also announced that the requirement of ALMM would be deferred until March 31, 2024, and the orders for using only domestically approved modules in the ALMM would be held in abeyance

Indian Government Releases Guidelines to Promote Development of Non-polluting Pumped Storage Projects

The Indian government has released final guidelines to encourage the development of Pumped Storage Projects (PSPs) across the country The guidelines state that state governments can allot project sites to developers through competitive bidding tariff-based competitive bidding and on a nomination basis to state PSUs and CPSUs The PSPs have a long service life of over 40-50 years and provide the necessary scale of storage, resulting in a low cost of delivered energy over the life of the project The ministry y e e l

Central Government Introduces Amendments to Promote Renewable Energy Through Green Energy Open Access

According to the amended rules, an “entity” is now defined as a consumer with a contracted demand or sanctioned load of 100 kW or more, either through a single connection or multiple connections totalling 100 kW or more within the same electricity division of a distribution licensee, excluding captive consumers Captive consumers, however, are exempt from load limitations Additionally, the eligibility for Green Energy Open Access is limited to consumers with a contracted demand or sanctioned load of 100 kW or more, either through a single connection or multiple connections totalling 100 kW or more within the same electricity division of a distribution licensee For captive consumers availing power through Green Energy Open Access, there is no limit on the supply of power Furthermore, the amendment states that additional surcharges will not be applicable to electricity produced from offshore wind projects commissioned until December 2032 and supplied to Open Access Consumers

Ministry of Power Prioritises Financially Disciplined States and Clears Discom Dues for Power Allocation from Central Pool

The Ministry of Power has issued an order stating that electricity from the central pool will not be allocated to states and Union Territories (UTs) that impose taxes on clean energy projects, hinder the inter-state flow of power, and have not cleared subsidy dues on electricity tariff. The Ministry of Power allocates power generation capacity to states from its unallocated quota in Central Generating Stations The order further emphasized that priority will be given to the allocation of power to states that maintain financial discipline and refrain from imposing taxes or duties on the flow of power to other states Regulatory assets are acknowledged by power regulators when the tariffs imposed on electricity consumers do not cover the power purchase costs of distribution companies Therefore, the states that have regulatory assets will not receive power allocation from the central pool

Regulation

RERC Proposes Amendments to Boost Renewable Energy Adoption and Green Practices

Kerala State Electricity Board Proposes Green Power Tariff of ₹2 54 Per Unit

Haryana Regulator Rules Against Reliability Charges for Green Open Access Consumers

CERC Adopts Tariff for 1200 MW Wind-Solar Hybrid Power Projects

Haryana Electricity Regulatory Commission Issues Green Energy Open Access Regulations 2023

Ministry of Power Releases Draft Electricity (Amendment) Rules 2023 with Provisions for Subsidy Accounting and Financial Sustainability

CEA Releases Draft Guidelines for Uniform Power Demand Forecasting

MNRE Directs REIAs to Grant Time-extension on Case-to-case Basis for Solar PV and Solar PV-wind Hybrid Power Projects

The Ministry has issued letters to the Renewable Energy Implementing Agencies (REIAs) (SECI/ NTPC/ NHPC) regarding the extension of time for completion of Solar PV and Solar PV-wind hybrid power projects In a letter dated December 29, 2022, the REIAs were instructed to extend the Scheduled Commissioning Date (SCD) until March 31, 2024, for projects where the last date of bid submission was on or after April 10, 2021, and whose SCD (including previous time-extensions) was before March 31, 2024 Similarly, in another letter dated January 25, 2023, it was conveyed that projects for which bids were finalized before March 9, 2021, could be given time for completion until March 2024 However, it has been clarified that these time-extensions are not general blanket extensions, and the REIAs must examine each request for an extension on a case-by-case basis.

MERC Approves 18% Hike in C&I Tariffs for FY24 in Maharashtra to Recover Revenue Gap

The Maharashtra Electricity Regulatory Commission (MERC) has approved an 18% hike in commercial and industrial (C&I) consumer tariffs for the current financial year, FY 2024 The decision was made in response to a petition filed by the Maharashtra State Electricity Distribution Company (MSEDCL) The tariff for high-tension connections will see an increase in FY24, with rates of ₹8 12/kWh for HT I (A) general connections, ₹8 43/kWh for HT I (B) seasonal connections, and ₹12 83/kWh for HT II connections

The new tariffs will be effective from April 1, 2023, and FY25 tariffs will be effective from April 1, 2024. MERC has balanced consumer interest with the distribution licensee’s legitimate expenses and determined a revenue gap of ₹395 67 billion be recovered through a revision in tariffs

CERC Extends Deadline for Submission of Information by Generating and Transmission Companies

CEA Releases Draft Guidelines for Uniform Power Demand Forecasting

India’s CERC Issues Regulations to Ensure Grid Security and Limit Frequency Fluctuations

Central Electricity Regulatory Commission Approves Reduction in Ceiling Prices for Day-Ahead Markets

MERC Sanctions Tariff of ₹3 10/kWh for 117 5 MW Solar Power Procurement, Fulfilling

UnderstandingIndia's

management, water conservation, green building, waste management, renewable energy, and other ecologically beneficial projects. These green projects are funded using the revenues from green bond issuances, and issuers are obligated to provide investors with transparency and accountability by reporting on the project's environmental impact

In India, green bonds have recently experienced tremendous growth With rising interest from both domestic and foreign investors, the nation has emerged as one of the Asia-Pacific region's green bond markets with the quickest rate of growth India's issue of green bonds in 2021 placed it seventh internationally, according to the Climate Bonds Initiative This is a huge increase over prior years, demonstrating India's rising acceptance of green bonds as an effective funding option for sustainable development

The strong dedication of the Indian government to supporting sustainable development and tackling environmental concerns has been one of the main forces behind the issuance of green bonds in India To promote green financing, the Indian government has implemented several incentive programs and legislative changes, including the issue of green bonds For instance, the Securities and Exchange Board of India (SEBI), which oversees the Indian securities market, has published green bond guidelines that offer issuers a framework to adhere to be eligible for the status of green bonds As a result, green bond issuance in India has become more

uniform, giving investors certainty and assurance

In India the issuing of green bonds has also been significantly influenced by financial institutions, such as banks and non-banking financial firms (NBFCs) To fund their renewable energy and green infrastructure projects, some big Indian banks have issued green bonds For instance, the State Bank of India (SBI), the largest bank in the nation, became the first Indian bank to sell green bonds on the London Stock Exchange in 2021 when it issued a $650 million bond To fund renewable energy projects in India, other financial institutions like Yes Bank, Axis Bank, and IDFC First Bank have also released green bonds

ly benefited the environment but also India's rojects supported by green bonds have

gy g p

projects financed by green bonds is one of the difficulties To promote openness and accountability, there must be clear, uniform criteria for calculating and disclosing the environmental advantages of projects financed by green bonds

Another difficulty is the scarcity of green projects that satisfy the requirements for issuing green bonds While green bond proceeds have primarily gone to renewable energy projects in India, there is a need to diversify the projects that qualify for green financing, including water conservation, sustainable agriculture, and green buildings, to address a wider range of environmental issues

It's also important to inform and educate investors about the advantages and hazards of green bonds The potential impact and profits of investing in such securities may require further knowledge and education for many investors who are currently unfamiliar with green bonds. To increase liquidity and draw in additional investors, a strong secondary market for green bonds needs to be developed in India

Green bonds have unquestionably changed the game for sustainable development in India despite these obstacles They have aided in raising money for ecologically friendly initiatives, promoting accountability and transparency, and supporting the nation's efforts to deploy renewable energy sources and protect the environment Additionally, green bonds have enhanced access to clean energy and basic services, which has had a positive socioeconomic impact especially in rural and neglected areas.

As a game-changer for sustainable development in India, green bonds offer a workable funding option to address environmental issues and advance sustainable initiatives. Green bonds have the potential to hasten India's transition to a more resilient and sustainable future with ongoing backing from the government, financial institutions, and investors To realize the full potential of green bonds in India, it will be essential to address issues like standardization of reporting frameworks, diversity of qualifying projects, and investor education

Mr. Sharad

MD CEO, Amplus Solar Exploring the Po between Trader Developers: Imp

CONVERSATION HIGHLIGHTS

Regulatory clarity: Clear guidelines and policies are needed to recognize and treat Contract for Difference (CFD) mechanisms in renewable energy trading

Government support: A serious push from the government is necessary to establish a merchant market, providing unrestricted open access and energy evacuation capabilities for generators and consumers.

Opportunities for developers and traders: Direct contracting enables the development of innovative products and arrangements, benefiting both developers and traders in meeting specific consumer requirements and driving the growth of renewable energy capacities

What is your take on new renewable energy projects being directly contracted between traders and RE project developers?

It is a good incentivisation provision and has proved beneficial in many global markets In this derivative, traders start aggregating power at a fixed strike price For the developer, CFD mechanism hedges the price risk by offering a

stable and guaranteed revenue stream Conversely, the aggregator benefits in multiple ways like getting green attributes in exchange and achieving scale towards net zero commitments A lot of green energy traders in India have also been seeking clarity on the acceptability of CFD in the country Apart from the regulatory clarity on the recognition/treatment of such products, serious push from government will be required to facilitate a merchant market for renewable energy This would require policy support for developing a merchant market primarily extending unrestricted open access / energy evacuation capabilities for both generators and consumers

How will this impact the prices?

We are at a very nascent stage in this sphere, and we don’t see any major impact on the pricing in the near future However, in case of high acceptability of this mechanism in the long run a shift from long-term PPAs to power trading will make the spot markets more competitive for the solar generation hours

How will this impact developers and the industry as a whole?

This is a progressive initiative and will provide opportunities to developers and traders to offer innovative products / arrangements meeting the specific requirements of the end consumer Successful deployment of this model would require deployment of advanced AI and financial engineering Once there is adequate framework and support for free movement of energy, we should see significant RE capacities getting set-up under this mode

Green energy traders in India have been seeking clarity on the acceptability of CFDs in the country. Regulatory frameworks and policies need to be established to provide recognition and define the treatment of such products in the Indian market.

CONVERSATION HIGHLIGHTS

Financial institutions in India play a key role in green financing by providing accessible and affordable capital for green infrastructure, requiring alignment with global institutions to develop suitable financial models for the Indian market.

To fully realize the potential of green finance and achieve net-zero goals in India, a supportive policy framework, favorable taxation policies, and innovative financial instruments tailored for the Indian market are essential

Accessing green financing in India is challenging due to limited funding options, internal exposure limits of financial institutions, and the lack of non-recourse long-term project financing

What role can financial institutions play in promoting green financing in India?

Power generation is a capital-intensive business; accordingly, the availability of accessible and reasonable capital is the primary requirement FI’s might not be involved directly, but as capital providers to the developers, there is no alternative to seamless funding for green infrastructure development In India, the government did formalize policies encouraging banks to align with the country's sustainability goals, but greater momentum is needed to address the massive requirement The industry primarily depends on the banking sector, and low-cost funding is still a concern Indian banks must benchmark the definition of green financing and associate with global institutions to support this structure by developing financial models that are befitting to the needs of the Indian market Even with the available funding, longer tenures and fluid operations are needed A few banks in the country have also started giving green bonds, but the value of these bonds is small compared to the total size of bond issuance in India

Abhishek Goyal

CCO, Amplus Solar

What are the future prospects as well as challenges and opportunities for green financing in India?

Green financing is an ecosystem that cannot be ignored if India wants a global edge in its net-zero goals A huge opportunity lies in green equity and bonds, but first and foremost, we need a supportive policy framework For reference, a favourable taxation policy for green finance can help decrease transaction costs and promote better lending In addition, much thought needs to be put into harnessing technology and green finance instrument innovation that is uniquely suited for the Indian market

What are some of the biggest challenges businesses and investors face in accessing green financing in India, and how does "Company Name" address these challenges?

There are a limited number of financial institutions that are involved in the funding of renewable energy projects in India. These institutions, in turn, also have their internal limits on the amount of exposure they can take on a particular group of companies This leads to a scarcity in financing options available for businesses especially. Another challenge investors face is the difficulty in availing of nonrecourse long-term project financing Due to these constraints, the companies turn to foreign banks and the bonds markets who provide funding for short tenures only, thereby increasing the project risk and at times exposing them to foreign exchange risk as well

At Amplus, fortunately, we have never faced many delays in funding courtesy our track record of delivering excellent quality projects across the spectrum with strong offtake agreements

How does "Company Name" view the role of renewable energy in India's economic and environmental future?

India is undergoing a rapid energy transition to meet 50% of its electricity needs from renewable energy sources by 2030 Not only does this transition mitigate the effect of climate change; it also reduces the country's reliance on imported fossil fuels and its vulnerability to fluctuating global fuel prices Moreover, this shift towards renewable energy opens numerous employment opportunities across its value chain

We are witnessing a global rise in demand for the products which are manufactured using renewable energy; in-fact the developed world is going to the extent of taxing the products which are not manufactured with green energy

India’s ability to provide stable, high quality renewable power to the industries will make it a global industrial hot spot where international companies can setup their manufacturing bases to supply products globally. Additionally, India can possibly become an exporter of energy as well by leveraging its renewable capabilities once the global green ammonia/green hydrogen economy takes shape over the next decades

Green financing presents significant prospects for India's net-zero goals, particularly in areas such as green equity and bonds.

Capital is the lifeblood of the power generation industry, and seamless funding is the key to unlocking the potential of green infrastructure development.

CONVERSATION HIGHLIGHTS

Trina Solar stands out as the sole solar module manufacturer offering an integrated module and tracker solution, securing its leadership position in the industry

With Trina Solar's SuperTrack algorithm, module tilt is optimized for maximum light absorption, resulting in an impressive 3-8% energy gain This restores the advantage of tracking with bifacial modules, reaching 1520% energy gain

Trina Solar's latest innovation, the Elementa Battery Energy Storage Solution, empowers customers to generate and store energy during peak daylight hours for later use during high grid demand

Could you please provide some information about the latest product that Trina Solar is introducing in the Asia Pacific region? What distinguishes them from other market solutions?

Trina Solar has been in business for more than 25 years and is synonymous with solar modules But in response to market demand – especially for integrated solar solutions – it decided a few years ago to expand its product offering, to take a unique leadership position in the industry and become the only solar module manufacturer that can provide an integrative module and tracker solution Besides solar modules and trackers, Trina Solar has expanded its solution offering to include energy storage, namely “Elementa”

In terms of latest products, it has launched the second-generation Vanguard 2P tracker The first-generation Vanguard 2P tracker was powered by a single electric motor which operated multiple drivepoints through a mechanical drivetrain

The second-generation tracker achieves the perfect angle alignment through the mechanical action of three actuators powered by individual motors, significantly reducing the number of mechanical parts, making the tracker quicker and easier to install, and reducing maintenance costs over the product’s lifecycle.

Andrew Gilhooly

Head of Utility, Commercial and Industrial Solutions, Trina Solar, Asia-Pacific Region

Powering the Future: Trina Solar's Latest Products Transforming the Asia Pacific Solar Market

The Vanguard 2P tracker and modules also come with TrinaTracker’s SmartCloud SCADA system so operations and maintenance diagnostics can be performed remotely in real time

How do you see these new solutions addressing the region's specific energy challenges and opportunities, such as rising demand for Solar energy, grid integration, and energy storage?

While the cost of solar energy has declined significantly over the past decade, for the industry to continue to grow at the same pace and truly displace conventional forms of power generation, it is important the cost of solar energy continues to reduce

Trina Solar’s SuperTrack intelligent algorithm that optimizes the module tilt - to maximize light absorption and electricity generation, using topographical and machine learning from real time data on weather and inter row shading –can achieve a further 3-8% energy gain This restores the overall advantage of tracking, with bifacial modules, back to 15-20%.

For sites with excessive wind or requiring the very highest installation capacity -such as those connected to batteries that require high power density to improve the charge discharge cycling of the batteries- Trina Solar provides its FixOrigin, a ground fixed tilt system It can also be orientated east/west to maximise installation capacity per unit area Unlike many fixed solutions it, like the tracker, has been designed for optimal bifacial performance and long-term reliability

Finally, Trina recently launched its vertically integrated Elementa Battery Energy Storage Solution, enabling customers to generate more energy from modules and tracker solutions in peak daylight hours, store and discharge at times of higher grid demand.

Trina Solar recently launched its vertically integrated Elementa Battery Energy Storage Solution, enabling customers to generate more energy from modules and tracker solutions in peak daylight hours, store and discharge at times of higher grid demand.

Can you explain the key features, technical specifications, and superior performance of these new solutions, as well as how they cater to the diverse needs of customers in the Asia Pacific region?

Offering an integrated solution - that includes the modules, trackers and energy storage - is important to customers in many markets in Asia Pacific For example, some customers require advanced solutions to unlock ever increasingly challenging sites such as those that: are spatially constrained, have high or cyclonic wind, are rocky or have uneven terrain, are prone to flooding, etc Customers take a long-term view, so they appreciate the latest technology from Trina Solar and its ‘one stop shop’ solutions backed by the industry’s most bankable brand

The new generation Vanguard 2P tracker has undergone extensive wind tunnel tests from the world’s leading wind tunnel consultancies It has the same industry-leading low pile count – as low as seven – per tracker or one hundred piles per megawatt peak as the earlier tracker This contributes to typically one to two US cents per watt peak lower balance of system (BOS) costs This is especially the case with sites that have challenging geotechnical properties, like rocky sites requiring concrete or cohesive-less soils requiring deeper embedment This helps EPCs and installers reduce construction risk and importantly cost, which can then be passed on to the developer and independent power providers.

Trina Solar’s patented spherical bearings are fully articulated and can rotate in all three rotational degrees of freedom This enables clients to deploy trackers on sites with highly uneven terrain without incurring excessive civil cut and grade costs This provides long term stability, even on unstable sites with high subsidence

The Vanguard 2P was selected for the 875WM Qatar Energy project which is in a harsh operating environment:

arid desert with high UV, large temperature cycles and high propensity of airborne abrasives and dust;

high salt spray near the sea;

near a large petroleum refinery in a high corrosion, heavy industry environment

Trina Solar’s Elementa BESS solution utilises a vertically integrated approach back to the raw lithium material This enables Trina Solar to give clients greater certainty on availability and allocation as compared to competitor solutions that rely on battery cells supplied by third-party original equipment makers It means competitors have more exposure to upstream supply chain shortages and price volatility Meanwhile, Trina Solar has invested heavily in developing proprietary lithium-ion phosphate battery cells and rack solutions The unique enclosure design, for the energy storage solution, provides integrated fire suppression and water cooling to enable a high energy density, while minimizing land required for the energy storage system

What strategies or initiatives does Trina Solar have in place to support customers in the Asia Pacific region with these new solutions, such as training, technical support, and aftersales services?

Trina Solar has invested heavily in its solutions business, a core differentiation and a business model that unlocks more customer value. Accordingly, Trina Solar continues to build its APAC team including pre-sales and project management That said, Trina Solar already has a big regional presence because of modules

To partner with a solution provider requires more value-add support That is why Trina Solar provides deep and close support at every step of

the clients’ projects From optimizing layout design and supporting geotech testing at presales, to project execution where it sends technicians to train installers and lead the commissioning process

Tina Solar has also launched a tracker training facility in Sydney for clients, EPCs and installers to familiarize themselves with tracker assembly

What are Trina Solar's plans for the Asia Pacific market, particularly in the utility and C&I segments, in terms of product development, market expansion, and customer engagement?

Trina Solar will continue to improve its trackers and BESS offerings, including developing increasingly longer trackers to continue to optimize cost Later this year Trina Solar will launch its productized C&I module/tracker solution where clients can enjoy the benefits of integrated one stop shop solutions, not just on large utility projects but also on smaller behind the meter projects of a few megawatts

Trina Solar will also launch its FixOrigin solution to address high wind markets like the Philippines, Taiwan and Bangladesh Expect continued uptake of TrinaTracker in markets like Malaysia, Japan and Korea

Finally, Trina Solar sees tremendous growth and positive sentiment for its trackers in Central Asia, especially in Uzbekistan, where the proven performance of Trina Solar modules and trackers has contributed to the success of some large projects

On March 24 and 26, Trina Solar published its full year 2022 and Q1 2023 financial results, saying it had annual revenue of $12 645 billion (RMB 85 052 billion), an increase of 83 41% on 2021 The company’s main businesses, including PV products, PV system and smart energy all registered strong growth

Module shipments continue to power ahead

Trina Solar’s module shipments in 2022 totaled 43 09GW and cumulative module shipments exceeded 140GW by the end of March 2023, the company said

In cumulative shipments of 210mm modules, the independent new-energy research agency TrendForce said the number had exceeded 120GW by the first quarter this year, of which Trina Solar accounted for 65GW+, ranking first in 210mm module shipments globally, with a market share of more than 50%

Trina Solar’s high-performance 600W+ Vertex modules based on the 210mm product technology platform have become the preferred choice worldwide. By virtue of the advanced i-TOPCon cell technology and 210mm technology, Trina Solar has built a robust n-type ecosystem that can be applied in numerous settings, helping its customers reap great benefits

Module capacity reaches 95GW, speeding up n-type product development

From the end of last year, Trina Solar’s 210mm n-type i-TOPCon ingots, cells and modules came into mass production By the end of this year, cell capacity will be 75GW and module capacity will be 95GW, including 40GW of n-type cells, the company said

Leading technology: Delivering more benefits to customers

Trina Solar continues to invest heavily in technological innovation It obtained 173 few patents last year and now owns 1,159 patents Trina Solar also continues to be a global pacemaker and record setter and last year broke world record for three times by setting PERC cell efficiency and industrial large-area n-type i-TOPCon cell and module efficiency

A model global citizen in reducing carbon emissions

Trina Solar is deeply committed to delivering low-carbon products to customers worldwide and adheres to low-carbon practices in every aspect of product development, production and use. With its industry-leading carbon emissions reductions, Trina Solar’s Vertex modules have been received LCA certification and a Carbon Footprint Certificate in 2022 In this April Ti Group awarded Trina Solar’s factory in Yiwu, Zhejiang province, a Zero Carbon Factory certificate, the first such certificate to be awarded to a photovoltaic company

Trust from global influential institutions

Trina Solar has won recognition from respected international institutions It has scored 100% in the BNEF Bankability Survey for the past seven years and was given the highest ranking, AAA, for four consecutive quarters in the PV Tech Module Tech Bankability Ratings report, as of first quarter 2023

Since Trina Solar was founded 25 years ago it has supplied the world with more than 140GW of solar modules and has a presence in more than 150 countries and regions The company is committed to making more contributions with its outstanding products technological innovation and stable financial performance

Accumulative shipments of Trina Solar’s modules totaled 140GW while 210mm module shipments exceeded 65GW by Q1 2023, ranking first globally

Trina Solar’s Yifeng Chen honored with IEEE Stuart R. Wenham Young Professional Award

The 50th IEEE (The Institute of Electrical and Electronics Engineers) Photovoltaic Specialists Conference (IEEE PVSC) recently announced that Dr Yifeng Chen, technical leader and associate vice president of technology in Trina Solar, will receive the 2023 IEEE Stuart R. Wenham Young Professional Award for his outstanding achievements in the science and technology of photovoltaic energy conversion

As technical leader in Trina Solar, Dr Chen leads the R&D team to encourage technological innovation and transfer to mass production To date, Trina Solar has set 25 world records in terms of solar cell conversion efficiency and module power output. The 210mm n-type i-TOPCon cell efficiency has reached 25 3% in mass production, which benefits the customers and PV industry

The 50th IEEE PVSC will be held on June 11 in San Juan, Puerto Rico, USA

Dr Chen will receive the award and give an extended oral presentation on high-performance of 210mm n-type i-TOPCon cells and modules Dr Chen said: “This award is also a recognition of Trina Solar, and particularly, every researcher in R&D team In the future, we will further accelerate the industrialization of high-efficiency technologies, promote the application of high efficiency and reliable Vertex modules ”

Dr Chen was also the winner of the “SiliconPV Award” (2013 SiliconPV conference, Hameln, Germany), and the “Young Researcher Award” at the World Conference on Photovoltaic Energy Conversion (2014 WCPEC, Kyoto, Japan)

This award fully recognizes the achievements of Dr. Chen and his team in high efficiency solar cell and modules R&D, and underscores Trina Solar’s position as a global leader in the field of PV technology Trina Solar will enhance its R&D in advanced high efficiency 210/210R products with ntype i-TOPCon technology, to develop products with better performance and higher value to global customers.

Headquartered in New York, USA, the Institute is one of the world’s largest professional technical organizations It was founded in 1963 In 2014, the Institute established the Young Professional Award, which was later renamed as the IEEE Stuart R Wenham Young Professional Award in honor of Prof Stuart Wenham The award is given annually to an individual who has made significant contributions to the science and technology of photovoltaic energy conversion, including work on PV materials, devices, modules, and/or systems

Trina Solar has set 25 world records in terms of solar cell conversion efficiency and module power output."

Dr. Yifeng Chen

This award is also a recognition of Trina Solar, and particularly, every researcher in R&D team. In the future, we will further accelerate the industrialization of high-efficiency technologies, promote the application of high efficiency and reliable Vertex modules.”

CONVERSATION HIGHLIGHTS

With backward integration through Navitas Alpha Renewables and forward integration in project execution and EPC services, Navitas Solar maintains control over the supply chain, ensuring quality and efficiency

Despite challenges in the Indian market, Navitas Solar's young and adaptable team, coupled with their focus on spreading awareness and maintaining superior quality, positions them for a bright future in the solar industry

Navitas Solar's strategic focus on international markets, such as the USA, Africa, and Europe, demonstrates their ambition to establish longterm relationships and significantly increase their export share, aiming for a remarkable 10 GW expansion in the next decade.

Can you describe any recent developments or innovations in solar module technology that your business has made or is pursuing?

Navitas Solar is expanding its capacity to add another 1 2 GW p a in our portfolio Recently, we have raised 5M USD for the new expansion We have already purchased land and started construction for the same In the new expansion, advanced technology like TOPCon technology will be also incorporated

What distinguishes your solar modules from those made by other market players? What distinguishing qualities or innovations do you provide?

We are amongst the few module manufacturing companies in India having backward and forward integration. Backward integration is provided by our subsidiary company called Navitas Alpha Renewables Pvt Ltd (NARPL), which manufactures EVA Sheets with the production capacity of 1 5 GW p a and expanding to add another 1 5 GW p a and it is already listed in the top 5 EVA manufacturers of India Forward integration is provided by project execution & full-fledged EPC services for residential, commercial and industrial clients on rooftop as well as open access solar parks Having forward and b k d e have the control on

Ankit Singhania

We also have in house labs to maintain the quality of modules due to which we’re benefited a lot We also have technically sound QA & QC team as well as R&D team that are continuously dedicated towards improving the quality

What obstacles must you overcome to succeed in the Indian market as a market of solar modules? What tactics do you use to maintain your position as a market leader?

There are many challenges in the Indian market like delayed disbursal of subsidy, dynamic policies of Indian Government, lack of awareness regarding solar industry etc While talking about dynamic policies, recently ALMM implementation is extended till March, 2024 which may affect adversely to domestic module manufacturers. It may affect job losses in the industry as well as investments of domestic manufacturers

We try to cope up with the advanced technologies in the solar market and try to adapt the same to maintain our position Our USP is a young team who can quickly understand the changes of solar industry and adapt the same We try to spread awareness regarding solar through various campaigns

What are your top priorities going forward and what do you see as the future of your Indian company that manufactures solar modules?

Our top priority is maintaining our quality and strengthening our position in the solar market We see bright future of solar module manufacturers at Nationally as well as in the global market Indian government has taken massive target of installing 500 GW of renewable energy by 2030 out of which 125 GW is already installed including 66 GW of solar If everything takes place perfectly with the time, it’s just a matter of time for India to become a global leader.

What are your future plans?

We are aggressively exploring markets of USA, Africa and Europe and we’re looking forward to have a long-term relationship with overseas customers We’re expecting to increase the share of exports in our portfolio significantly We’re going to expand to 10 GW in next 10 years.

Director & Co-Founder, Navitas Solar

"Navitas Solar's ambitious expansion plans and incorporation of advanced technologies showcase their commitment to lead the Indian solar market and make a significant impact globally."

Navitas Solar: Leading the Charge in India's Solar Market and Expanding Globally with Advanced Technology and Integration."

Navitas Green Solutions Pvt. Ltd. raises 5 MN USD

27th April 2023, Surat: Navitas Green Solutions Pvt Ltd (Navitas Solar), a leading solar module manufacturing company that produces solar panels has raised 5 MN USD at an undisclosed valuation

With able guidance and advisory from expert team of RSM-Lemon Consultech, a group of HNI investors participated in the funding round Lead investors include promoters of Parishi Diamond Group (as anchor investor leading the round with more than 50%), Lemon Emerging Ventures LLP, and other HNI investors The leading module manufacturing company will use the funds for expanding manufacturing capacity by another 1 2 GW p a

“We are thrilled by the successful completion of our funding round as we embark on the next phase of growth The faith shown by the investors upon us is a vindication of the strong foundation we have laid for Navitas Solar in the last ten years The funding will allow us to expand our manufacturing capacities and meet the growing demand for solar power projects It also gives a big boost to our ambitions to develop the most efficient and reliable solar modules and emerge as a global player,” said Vineet Mittal, Director & Co-Founder, Navitas Solar

“We have studied the business model of Navitas in detail and found it highly scalable The enterprising nature combined with relevant expertise and enthusiasm of their young team of founders gave us the confidence to invest and participate in their growth story ” Said Nirav Jogani, ViceChairman of Lemon Consultech.

Aaryan Shah from Parishi Diamond Group, the lead investor in this round says “Navitas is the perfect partner for our investment in renewable energy The team has proven itself and we are excited to partner them in their next phase of growth As socially conscious investors we are glad to participate in our Prime Minister’s vision for becoming a Net zero country by 2070 ”

About Navitas Green Solutions

Founded in 2013 by young entrepreneurs Vineet Mittal, Sunay Shah, Ankit Singhania, Aditya Singhania and Saurabh Aggarwal, Navitas Solar aims to set a new benchmark in the solar space The company has achieved a CAGR of 30% from 2015 to 2023

With a total manufacturing capacity of 500 MW p a , Navitas Solar is one of the leading solar module manufacturers in the country. Navitas Solar is specialized in the production of polycrystalline and Mono PERC solar modules ranging from 5 watts to 600 watts per panel Notably, Navitas Solar is amongst the few solar module-manufacturing companies in the country to have backward and forward integration, distinguishing it from its competitors. Backward integration is provided by its subsidiary company called Navitas Alpha Renewables Pvt Ltd (NARPL), which manufactures EVA Sheets, while forward integration is provided by project execution & full-fledged EPC services for residential, commercial and industrial clients on rooftop as well as open access solar parks Navitas Solar is ranked amongst the top 10 Indian solar manufacturers by JMK Research & Analytics. The next phase of expansion will take Navitas Solar to 3 GW per annum shortly

Navitas Solar has more than 800 customers pan India, including governments, semi-government bodies, and commercial enterprises, and has catered to some of the largest Indian brands, including customers from USA

Leading in the solar module manufacturing, Navitas Solar has successfully established its footprints in nooks and corners of the country The company is actively spreading its reach in the global market as well in the USA, EU and Africa. Their credibility is supported by distinguished certifications like IEC, ISO, ERDA, BIS & MNRE The company is working hard to contribute towards the worldwide clean energy movement through realistic solutions

Featuring Hi-MO 7 Module, LONGi Shows Up at the SNEC with Full Scenario Product Portfolio

On May 24, the annual SNEC officially kicked off in Shanghai As the "record-holder" of the highest efficiency in the solar industry, LONGi globally releases Hi-MO 7, a new product based on HPDC technology The product maintains the standard M10 module size, with a mass production power of 580 W and a conversion efficiency of 22 5% It is an ultra-high-value modular product created by LONGi for large ground power stations around the world, ushering in the "Terawatt Era" again with integrated innovations So far, LONGi has formed a multidimensional product matrix with "Hi-MO 5+Hi-MO 7" focusing on the utility market and Hi-MO 6 focusing on the distributed generation market, bringing global users the best value experience of efficient and steady gains throughout the life cycle of power stations

At the site of the release, Li Shaotang, Product Marketing Director of LONGi, explained in depth the core advantages of the HPDC-based HiMO 7 He emphasized that LONGi Hi-MO 7 has been evaluated, developed and tested for a long time In addition to high efficiency, it has world-leading product quality and long-term reliability, which significantly reduces the LCOE of large-scale photovoltaic projects in gobi-desert by improving the energy generation output throughout the whole life cycle.

The Hi-MO 7 module launched this time is a new generation of products developed by LONGi based on high-efficiency HPDC cell technology, which is essentially another innovative practice of the "first principle thinking".

The acronym HPDC stands for High Performance and Hybrid Passivated Dual-Junction Cell, which is another improved iteration of the HPC cell technology The backside of the cell features high and low junctions, optimized film design, and advanced deposition techniques to achieve remarkable full-area passivation with minimal parasitic absorption On the front side, the cell is applied with a local low-resistance contact layer that enhances cell efficiency Additionally, both the front and back sides incorporate upgraded anti reflection and low-recombination films, as well as metallization solutions, for superior performance In general, the upgraded HPDC cell has better conversion efficiency, power temperature coefficient, and higher reliability, which can significantly improve power generation gains

According to reports, LONGi's prototype products based on HPDC cell technology won the TÜV Rheinland Energy Yield Simulation AQM Award 2022; In the power generation demonstration project conducted by China National Electric Apparatus Research Institute Co , Ltd in Qionghai, Hainan (on a high-albedo cement surface), Hi-MO 7 modules achieved a power generation gain of 2 9% compared with other mainstream bifacial modules This further verifies that Hi-MO 7 is ahead of similar products in terms of temperature coefficient, low-irradiation and IAM performance and product stability, making the modules more valuable to customers in the market of ground power generation terminals

New advancement in the HPDC cell technology, and the power generation efficiency is "beyond imagination"

LONGi's industry-leading product life cycle standards also guarantee the reliability of Hi-MO 7 Hi-MO 7 effectively ensures its reliability throughout its life cycle with optimized designs such as high-quality monocrystalline silicon wafers, customized cell paste, optimized module encapsulation film system, SMBB high-precision interconnection, and high-reliability automatic welding of junction boxes The application of digitalized manufacturing and quality control platforms, especially intelligent AI detection technology, further guarantees the product quality of Hi-MO 7. Therefore, Hi-MO 7 provides a linear power warranty of not more than 0 38%, bringing customers robust value and efficient returns beyond expectations

It is worth noting that the Hi-MO 7 modules released by LONGi is sticking to the standardized M10 module size of 2278×1134 mm each being a large-sized high-efficiency bifacial module Thanks to the efforts of LONGi and other companies in promoting M10, the comprehensive value and advantages of a reasonable module size have been fully understood by the upstream and downstream of the solar industry Since its first introduction three years ago, M10 has accounted for more than 70% of the market share Such industry-wide standardization achievements are hard-won They can reduce the application risks of products in extreme weather, promote the coordination between upstream and downstream of the industry chain, facilitate the replacement and upgrading of existing photovoltaic power plants, and contribute to the healthy and sustainable development of the industry.

The success of the M10 specification is not accidental It effectively balances manufacturing, product reliability, application convenience and compatibility Hi-MO 7, based on M10 specification, has excellent compatibility with manual installation of large racks, cables and inverters The significant improvements in module efficiency can increase installed capacity of the power station by more than 4 5% in a limited area This module also decreases the balance of system (BOS) costs in the photovoltaic field and lowers the costs of AC terminal equipment, resulting in a reduction of operation and maintenance costs throughout the power station's lifecycle.

With the official release of Hi-MO 7 module, LONGi has formed an excellent product portfolio of "Hi-MO 5+Hi-MO 7" in the market of utility power stations Hi-MO 5 series, with its mature and reliable power generation performance that consistently exceeds customer expectations, will remain the main product in the utility market for some time to come, while Hi-MO 7 series is preferred for scenarios that require modules with high ground surface reflectivity, elevated ambient temperatures, and limited land availability Hi-MO 6 series another star product released last year, is a high-quality product designed by LONGi for the distributed generation market worldwide In addition to its high efficiency and outstanding power generation performance, it can also provide users with an unparalleled visual experience

Undoubtedly, the advent of the "Terawatt Era" and the global consensus on carbon reduction have brought infinite possibilities for the development of the photovoltaic industry. Under more diversified photovoltaic application scenarios, the market demand for products with higher efficiency, higher returns and higher reliability throughout their life cycle has become more urgent This time, LONGi, who specializes in green energy technologies, will accelerate the arrival of a zero-carbon future once again with Hi-MO 7 and its more valuable Hi-MO series full-scenario products and solutions.

As Dennis She, Vice President of LONGi, said at the site of the release: "Continuous and steady innovation is the key to LONGi's consistent creation of higher value on the market end From promoting the technological revolution of monocrystalline industry to leading the largescale application of PERC cell technology and bifacial dual-glass module technology, from striving to promote the standardization and rationalization of product size in the industry to the game-changing HPBC technology that reshapes value, and now to the efficient empowerment of today's HPDC technology, LONGi has driven the high-quality development of the solar industry with technological innovations and efficiency records one after another, leading the global energy transition "

Chasing the dream of a world of green energy, leading the future with innovation For many years, LONGi has led the rapid development of the industry through continuous and high-quality technological innovation The delivery of more than 100 GW Hi-MO modules has effectively promoted the transition and upgrading of the global energy structure According to LONGi's latest annual report, LONGi delivered adequate solar modules in 2022 to generate power about 46 76 GW, gaining "three consecutive championships" in global module delivery and market share For 2023, LONGi targets to deliver 85 GW of cells and modules (including self-use) The newly released Hi-MO 7, is expected to achieve mass production in the second half of the year, with a capacity of 30 GW+ by the end of the year On the road to carbon reduction, more valuable series of Hi-MO modules will become an important source for human to accelerate the realization of a zero-carbon future

About LONGi

Founded in 2000, LONGi is committed to being the world’s leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation

For every innovation and upgrade of photovoltaic technology and products, LONGi has always been cautious, adhering to the principle of "no recklessness, no gambling" Only after careful calculation and full verification, and ensuring that the product has reliable long-term value for customers, will it be pushed to the market end

Under its mission of 'making the best of solar energy to build a green world', LONGi has dedicated itself to technology innovation and established five business sectors, covering mono silicon wafers cells and modules, commercial & industrial distributed solar solutions, green energy solutions and hydrogen equipment The company has honed its capabilities to provide green energy and has more recently also embraced green hydrogen products and solutions to support global zero carbon development www longi com/en

The multi-dimensional design provides a steady and "more comprehensive" longterm value guarantee

TOP lineup of Hi-MO modules in all scenarios, unlocking the best experience of terminal applications

Solis Cumulative Shipment Crosses 3GW in India, Solidifying Its Position as the Leading Inverter Brand in the Country

Solis, the global leader in photovoltaic (PV) inverter solutions, has announced that its cumulative shipments in India have surpassed 3GW, solidifying its position as the leading inverter brand in the country

Solis has continuously achieved the No 1 position and highest market share in India for the past three years, with its innovative and reliable products that cater to the diverse needs of the Indian solar market The company's commitment to providing high-quality products, excellent customer service, and competitive pricing has helped it build a loyal customer base and establish itself as a trusted brand in the Indian solar industry

Solis, a global leader in photovoltaic (PV) inverter solutions, has been recognized for its innovative and reliable products with multiple industry awards Last year, IHS Markit (now part of S&P Global), an international authoritative research institution, announced the top 10 global solar inverter shipments, 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 ranked in the top 10 in the global shipments of utility power stations.

Speaking about the achievement, Mr Idrish Khan- CTO of Ginlong Technologies (Solis India), said, "We are thrilled to have crossed the 3GW milestone in India This achievement is a testament to our commitment to providing world-class PV inverter solutions and excellent customer service. India is an important market for us and we are committed to supporting the country’s ambitious renewable energy goals by providing innovative and reliable products that meet the needs of the Indian solar market "

Solis has ambitious plans for India and aims to continue its leadership position in the Indian solar industry by introducing new and innovative products and solutions The company has received positive feedback from its customers in India, who have praised the quality and reliability of its products and its excellent customer service

The company’s commitment to providing excellent service has helped it build a loyal customer base and establish itself as a trusted brand in the Indian solar industry

The Indian government's policies towards renewable energy have played a crucial role in creating a conducive environment for Solis to establish itself as a leading inverter brand in the country The government has implemented the Bureau of Indian Standards (BIS) regulations for inverters and other solar equipment to ensure that the products meet the required quality standards The BIS regulations have positively impacted Solis, which has established itself as a leading inverter brand in India The regulations have helped Solis build a loyal customer base by providing high-quality, reliable products that meet the required BIS standards

Solis has come a long way since its inception in 2005, and its journey has been marked by several milestones and achievements The company's latest inverter, the Solis 255kW, is a testament to its commitment to innovation and excellence

About Solis

Established in 2005, Ginlong Technology Corporation (Stock Code: 300763 SZ), under the brand name Solis, is one of the world’s largest and most experienced solar inverter manufacturers The company provides cost-effective solutions for homes, businesses, and large-scale power plants delivering value at every level of the solar supply chain and appealing to both homeowners and businesses as well as electricity producers and renewable energy investors globally Combining a global supply chain with world-class R&D and manufacturing capabilities, Solis optimizes inverters for each regional market, serving and supporting its customers with a team of local experts The company aims to work with stakeholders to accelerate the world’s journey towards a more sustainable future

For more information visit: https://www solisinverters com/global/companyprofile html

How to use Peak Shaving to Save on Electricity Costs

Background

A "capacity tariff" is going to be introduced on residential properties where you will have to pay for the electrical capacity that you need This tariff is expected in many European countries, such as Belgium and Italy, and may increase electricity bills for many families.

What is a “Capacity Tariff”?

For consumers, including businesses and homes, electricity consumption varies throughout the day depending on whether there is a high or low demand. To manage such fluctuations electricity suppliers can change their rates throughout the day; therefore, you need to pay more for electricity during peak demand hours The traditional "peak power" pricing is only the amount of energy consumed during that period The new "capacity tariff" is to calculate the "peak power" during the full cycle For example, if you have a peak of more than 12kW for 15 minutes per month, you need to pay the electricity bill for the whole time according to the unit price of 12kW

Strategies for Implementing Peak Shaving

Use local sources to replace grid power, such as generators, photovoltaic power, wind power, etc

Control your power consumption by using power settings to prevent any overconsumption problems You can control things by using less indoor lighting, fans instead of air conditioners, or lowering the maximum temperature of your water heater

Use an energy storage system to achieve power transfer This can solve the peak power problem, especially if you combine battery storage with strategy A

Use the Solis S6 hybrid inverter to cut costs

For areas where peak power consumption limits exist, the use of a photovoltaic (PV) system and energy storage power is necessary

The Solis hybrid inverter is a perfect match for this scenario With Solis' residential solutions, you can achieve 100% green electricity use, electricity independence, all while reducing your electricity bills.

What is “Peak Shaving”?

This pertains to any household that consumes more than the utility provider's power limits at a certain time as seen below on the electricity curve in Figure 1 Peak shaving is when you use your own power to avoid the new tariff on your electricity bills during the biggest energy consumption times

During the day, a PV system generates more electricity than the load needs It first supplies power to the local load while also charging the battery If there is any excess power, it can be sold to the main grid At night, the battery banks discharge to supply the load required by the household If the grid is interrupted, the system can operate independently to provide continuous power for residential applications

In addition, the Solis S6 energy storage inverter supports peak shaving control in both "self-use" and "generator" modes It allows users to set the maximum grid power consumed by the loads, and the surplus power can be supplemented by PV, battery banks, or diesel generators The S6 was designed with reducing the grid electricity price and saving electricity costs in mind

Solis is helping to redefine the energy future with multiple solutions for your energy issues.

For more information please go to www solisinverters com

"Peak Shaving" Strategy to Reduce Electricity Bills

Maximizing Energy Yield: Unleashing the Power of N-Type TOPCon Technology and Bifacial Solar Modules

TigerNeoN-TypeTOPConModule

ProductWhitepaper

30 Years

Long warranty for power production

22%-23.23% Highestefficiency

0.4% Lowyearlydegradation

80±5% Bestbifaciality

-0.29 %/°C

Lowesttemperature coefficient

Highest Average Cell Efficiency of Jinkosolar’s N-type TOPCon Cell:

> 25 1%

N-type TOPCon cell can achieve even 28 2-28 7% thematically while Jinkosolar mass-produced N-type TOPCon cell with 25 1% efficiency

Highest Average Module Efficiency of Jinkosolar’s N-type TOPCon

Panel: >22%

koolar N-type TOPCon Tiger Neo panels have the best efficiency in al production, scoping between 22%-23 23% N-type Tiger Neo dule has the best generation performance and reliable characteristic stance for common fail from all over solar technology

Best Advantage of N-Type Solar Panels

Tiger Neo’s Low Degradation:

Higher power, bifaciality, efficient production under extreme conditions, combined with the lower degradation, no LID and LeTID effects and a glass-glass structure of Jinkosolar’s N-type Tiger Neo allows you to generate significantly more power per watt (kWh/kW) over 30 years of use compared to PERC panels

Jinkosolar’s N-type TOPCon Tiger Neo panels demonstrate better power generation characteristics than conventional P-type modules under low light condition. Therefore, the effective power generation time of Tiger Neo is 11 07% more than that of conventional solar modules

Jinkosolar’s Tiger Neo with N-type TOPCon technology solar panels with 144 cells(182’ wafer) have a scope of power between 575W-610W and for 156 cells 605W – 630W. Residential standard 108 cells has standard 430W-450W

The temperature coefficient in PV refers to the change in the output power of a photovoltaic (PV) module or cell as the temperature changes It is usually expressed as a percentage change in power output per degree Celsius For example, a PV module with a temperature coefficient of -0 5%/ °C will have a 0 5% decrease in power output for every 1°C increase in temperature The temperature coefficient can vary depending on the type of PV technology used and the materials used in the module or cell

The temperature coefficient is important because it affects the performance and efficiency of a PV system. As temperature increases, the output power of a PV module decreases, which can result in a significant reduction in the overall performance of a PV system

This can be especially significant in hot climates where PV systems are exposed to high temperatures for long periods of time Additionally, temperature coefficient is also important in the design and optimization of PV systems By understanding the temperature coefficient of a PV module, engineers can design a PV system that will perform well even in high temperature environments They can also use this information to estimate the energy output of a PV system under different temperature conditions In summary, temperature coefficient is important in PV systems because it affects the performance and efficiency of the system, it's a key parameter in the design and optimization of PV systems, and it's useful in estimating the energy output of a PV system under different temperature conditions

Low temperature coefficient of Tiger Neo -0.29%/°C (othe producers provide -0 3%/°C ） panel allows it to bring more ene particularly in hot climates conditions which account for 80% demonstrates unique advantages in high temperature/high ir areas Compared to the PERC module, Tiger Neo features a low temperature coefficient and higher output power It is about 4 efficient in power output than the PERC module under 60℃ o temperature which is not unusual in tropic and desert regions

cells 605W – 630W Residential stan 50W

Maximizing Energy Yield: Unleashing the Power of N-Type TOPCon Technology and Bifacial Solar Modules"

Tiger Neo’s Low Degradation:

Tiger Neo modules works with TOPCon cells, which have m degradation than PERC panels, more stable and long-lasti generation N-type promises to provide the best quality ass ensure maximum customer value Degradation is only 1% in the and after 0 4% yearly in 30 years, allowing 87 4% of rated powe years

Why Higher Bifacility of Tiger Neo Matters?

N-type TOPCon is considered one of the top cell technologies with higher bifaciality Higher bifaciality allows more energy yield on the back Jinkosolar’s N-type Tiger Neo bifacial solar modules with bifacility of up to 85% can catch and convert solar light fully, generating 15-30% more power

Jinkosolar’s N-Type Tiger Neo Panels Warranty?

Long Warranty for Jinkosolar’s N-Type Tiger Neo Panels 30 years for linear power loss and at least 15 years for product (other N-type producers provide 12 years for o modules Top positions in the PV market

Due to the technical production and properties of N-type TOPCon cells as well as the optical dual glass design, the bifaciality of Jinkosolar’s Tiger Neo N-type panel is the highest commercialized available today at 75%-85% compared to PERC average of 65%-70% Glass-glass structure is the best solutio module since it maximize the advantage of N-t r reinforce and protect the cells externally

2%-5% 10-20% 22-25% 30- 80-85%

Accelerating the Solar Sector in India through Green Financing

POOJA CHATTERJEE

PARTNER, DESAI & DIWANJI

India's commitment to combat climate change and achieve its Nationally Determined Contributions (NDCs) requires significant financial investments With ambitious goals to reduce emissions, boost renewable energy capacity, and enhance carbon sinks, India recognizes the strategic role of green financing in achieving its climate objectives This article explores the progress and challenges in India's solar sector and highlights the importance of green financing in driving its clean energy transition

India has made remarkable strides in its solar sector, becoming one of the world's largest solar energy markets Abundant solar resources and supportive policies have fueled the growth of solar installations, contributing to job creation, greenhouse gas emission reduction, and improved energy security However, challenges such as land acquisition, financing, frequent regulatory changes, and disruptions in the supply chain persist

Green financing plays a crucial role in mobilizing funds for the development and deployment of solar power projects It encompasses various mechanisms such as green bonds, loans, venture capital, and public-private partnerships Financial institutions, government agencies, and international organizations have collaborated to promote green financing and facilitate the transition to a low-carbon economy

Governments, foundations, banks, and private investors have access to different instruments to finance green projects These include grants, riskmitigation products, equity investments, and debt instruments Grants are typically provided by global foundations and NGOs for specific projects like decentralized solar mini-grids. Risk-mitigation products, such as credit enhancement guarantees and green insurance, protect lenders against defaults and environmental risks Equity investments can be made by development financial institutions, venture capitalists, private equity funds, or through public offerings Debt instruments, such as green loans and green bonds, have gained significant traction in recent years

India has witnessed notable green financing deals in its renewable energy sector The Rewa Ultra Mega Solar Park received support from the World Bank and IFC, while Hero Future Energies secured a loan from the Asian Development Bank Greenko Energy Holdings and Azure Power raised funds through green bond issuances and an initial public offering, respectively The National Investment and Infrastructure Fund partnered with global investors to finance renewable energy projects These deals demonstrate growing interest and investment in India's renewable sector, mobilizing funds and supporting sustainable projects

Green bonds offer several advantages They attract capital from diverse sources, including institutional investors seeking responsible and sustainable investment opportunities By channeling funds toward environmentally sustainable projects green bonds contribute to the transition to renewable energy Additionally, green bonds reduce the cost of capital for solar projects, making clean energy investments more attractive with favorable terms like lower interest rates and extended repayment periods This, in turn, decreases the overall cost of solar energy, enhancing its competitiveness in the energy market

The impact of green bond financing extends beyond financial considerations It acts as a catalyst for market development in the solar sector by funding utility-scale solar projects, rooftop installations, and decentralized solar solutions This market expansion drives the transition to a low-carbon economy, creates employment opportunities, and promotes sustainable economic growth

To maximize the impact of green bonds, certain challenges must be addressed Enhanced awareness and education among investors and the general public are crucial Initiatives aimed at educating stakeholders about the benefits and opportunities of green financing are essential to attract more investors Standardization and transparency are also critical Establishing consistent guidelines and reporting frameworks for green bond issuances ensures transparency and accountability, boosting investor confidence and facilitating informed decision-making Collaboration among regulators, issuers, and investors is vital to promote best practices and maintain the integrity of the green bond market

To accelerate the solar sector in India through green financing, continued policy support from the government is essential This includes regulatory frameworks that encourage renewable energy investments, tax incentives, and clear project eligibility guidelines. Collaboration and knowledge sharing among stakeholders are equally important By sharing experiences, best practices, and lessons learned, the solar and financial sectors can address challenges, foster innovation, and drive sustainable growth

Efforts should also be made to enhance market awareness Engaging investors, financial institutions, and the public through educational campaigns, workshops, and conferences will help increase understanding and participation in green financing By highlighting the positive impact of green bonds and the importance of sustainable investments, more stakeholders can be encouraged to support and invest in the solar sector. In conclusion, green bond financing has emerged as a game-changer for India's solar sector, accelerating renewable energy deployment and supporting sustainable development These financing instruments attract capital, reduce costs, and facilitate market development, playing a crucial role in India's transition towards a greener future However, incorporating climate risk and ESG considerations into lending and investment decisions while balancing credit expansion, economic growth, and social development requires collective engagement By embracing green financing, India can accelerate its clean energy transition and contribute to global climate change mitigation efforts

GoodWe Receives an MSCI ESG Rating of “BBB” in Recognition of its Commitment to Creating a Sustainable Future

Morgan Stanley Capital International (MSCI), one of the world's leading investment research firms, recently published the Environmental, Social, and Governance (ESG) rating results. In recognition of its excellence in ESG performance, GoodWe Technologies Co , Ltd (hereinafter referred to as “GoodWe” or the “Company”, Stock Code: 688390 SH), has been upgraded to BBB from BB, which demonstrates the Company’s continuous improvement and commitment to ESG practices and shows its deep-rooted sustainability mindset.

MSCI ESG Research provides ESG Ratings to measure a company’s resilience to long-term, financially relevant ESG risks and opportunities, according to exposure to industry-specific ESG risks and the ability to manage those risks relative to peers MSCI’s ESG ratings reports may offer insights to institutional investors to mitigate risks and enhance long-term value creation

GoodWe receives this recognition thanks to its strategic perspective of vision and foresight in sustainability and the Company’s good management practices in cutting carbon footprint to better fulfill the goal of carbon neutrality Notably, GoodWe’s commitment to sustainability has been continuously embedded into its operations as well as its product offering, which speaks volumes about the Company’s advance in ESG management

As a world-leading smart energy solution provider, GoodWe not only provides quality products and services that facilitate its customers to lower their energy costs while reducing carbon emissions, but also ensures that its products follows eco-friendly and green processes The Company has also adopted green building concepts at the Company’s various facilities through solar carports and versatile building-integrated photovoltaics (BIPV) materials that are integrated with its solar-storagecharging system

Beyond this, GoodWe has joined the United Nations Global Compact (UN Global Compact) and pledged to support the ten principles of the UN Global Compact in human rights, labor, environment, and anti-corruption, to actively contribute to the realization of the UN Sustainable Development Goals

In 2022, GoodWe released its inaugural Corporate Social Responsibility (CSR) report Developed in collaboration with EY, this report chronicles the various practices the Company has undertaken to achieve sustainable development and further helps GoodWe identify any aspects and sectors that need more efforts and investment to improve its overall ESG performance In the same year, GoodWe was awarded a Silver Medal by EcoVadis, in recognition of its continued commitment to improving sustainability across its global business operations.

“We are really delighted to receive this triple B assessment from MSCI’S ESG rating, which justifies our confidence and motivates us to further improve ESG-related practices and continue to focus on sustainable development strategies,” said Daniel Huang, CEO & founder of GoodWe “Going forward we will remain our commitment to harnessing smart tech to drive the global energy transition, thus creating more value for our customers, employees, shareholders, and society ”

About GoodWe

GoodWe is a world-leading PV inverter and energy storage solutions manufacturer and is listed as a public limited company on the Shanghai Stock Exchange (Stock Code: 688390) With an accumulative delivery of more than two million inverters and installation of 35 GW in more than 100 countries and regions GoodWe solar inverters have been used in residential and commercial rooftops, industrial and utility scale systems and range from 0 7kW to 250kW GoodWe has more than 4,000 employees situated in over 20 different countries and is regarded as the Global Top 3 storage inverter supplier by Wood Mackenzie in 2021

For more information visit: https://en goodwe com/

Empowering the Future: Exploring Green Money Special in the Indian Solar Industry for Sustainable Investment & Finance

NEERAJ TIWARI

The global shift towards renewable energy sources is gaining momentum as countries strive to mitigate the effects of climate change In this transition the Indian solar industry has emerged as a significant player harnessing the power of the sun to generate clean and sustainable energy As the demand for solar power grows, so does the need for sustainable investment and finance

India is one of the 10 countries in the world utterly passionate about solar energy The increasing innovation and commercialization have resulted in a rising carbon footprint, and the country is working hard to transition to alternative energy sources such as wind and solar, with a goal of generating 500 GW of renewable energy by the year 2030

The growth however is mainly propelled by corporate enterprises and start-up endeavours that forecast a sustainable and healthy future for our country PIXON Energy is a popular name in this pantheon which is managed and promoted under the banner of ‘The Marwadi Group’, PIXON Energy is a one-stop shop for all kinds of solar solutions, including solar modules, EVA films and associated EPC solutions

PIXON is equipped with a state-of-the-art turnkey manufacturing facility of 1 GW with exclusive range of Multi-Busbar modules PIXON also houses a cleanroom environment facility to 1GW manufacturing line for EVA film

Green money refers to funds that are specifically allocated for investment in environmentally friendly and sustainable projects It aims to redirect capital flows from conventional sectors to clean and renewable energy projects, such as solar energy The main objective of green money is to promote sustainable development and combat climate change by supporting industries that have minimal impact on the environment

The Indian solar industry requires significant financial support for the development and expansion of solar power projects Green money provides a dedicated channel for investors to finance solar initiatives and facilitates the transition to a low-carbon economy Solar projects often face unique financial risks, such as technology obsolescence, regulatory uncertainty, and long payback periods Green money investments can help mitigate these risks by providing favorable financial terms, incentives, and guarantees to attract more investors to the sector

The influx of green money into the Indian solar sector encourages innovation and research in solar technology. The financial support enables the development of advanced solar modules, storage systems, and grid integration solutions, fostering the growth and competitiveness of the industry

India has set ambitious renewable energy targets, including a massive expansion of solar capacity. Green money investments play an important role in mobilizing the necessary capital to achieve these goals and support the country's transition to a sustainable and clean energy future

To encourage investment in the solar sector, the Indian government has adopted various initiatives and policies. These include tax incentives, subsidies, feed-in tariffs, and regulatory frameworks to promote renewable energy projects The government's commitment to renewable energy has attracted both domestic and international investors, further strengthening the sector's financial prospects

As India continues its transition to a greener economy collaboration between investors, policymakers, and stakeholders will be key to unlocking the full potential of green money in the solar sector

MARKETING MANAGER, PIXON GREEN ENERGY PVT LTD

The radiant sun illuminates India's path to a sustainable future, as the gentle touch of green money kindles the flames of growth within the solar industry, forging a powerful alliance that lights the way towards a cleaner, greener, and brighter tomorrow.

Introducing MGS100: Revolutionizing Sustainable Microgrids with All-in-One Power Solution

Microgrid solutions MGS100

MGS100 brings together all of the components required fora sustainable microgrid in a single device. Drawing on FIMER’s electrical design experience, the product is optimized to provide reliable power in the most efficient way

The system is formed from an integrated solar PV and battery energy storage converter with an additional AC input. This can incorporate either biofuel or diesel generation, or even an existing grid connection, into the microgrid’s energy mix

MGS100-40/30withPVS30

MGS100-40/33withPVS33

MGS100-40/50withPVS50

MGS100-40/100(With1xPVS100)

MGS100-80/100(With1xPVS100)

MGS100-80/100(With2xPVS50)

MGS100-80/150(With1xPVS100,1xPVS50)

MGS100-120/100(With1xPVS100)

MGS100-120/150(With1xPVS100and 1xPVS50)

MGS100-120/200(With2xPVS100)

MGS100-160/100(With1xPVS100)

MGS100-160/150(With1xPVS100 1xPVS50)

MGS100-160/200(With2xPVS100)

MGS100-160/250(With2xPVS100,1xPVS50)

MGS100-240/250(With2xPVS100,1xPVS50)

CESC Kolkata 100 KW Solar Floating Plant

Major USP’s of MGS100

Faster commissioning: All necessary protection on the input & output side are incorporated resulting in Smaller installation and commissioning time

Modular and scalable solutions: Capacity of Solar/Load can be increased by adding more inverters in parallel

True 3 phase solution (No paralleling of 3 x 1 Phase inverters)

Integrated, customizable “Plug & Play” solution

Delivers quality power to the loads

a Loads will not be interrupted for source variations

b Input voltage and frequency variations will not affect output V & f

c Operates with 100% phase to phase imbalance continuously

Support sources of capacity lesser rated than load (DG rating < Load rating)

Operates with large voltage and frequency variation : Requisite for Biomass/wind generator

Seamlessly can operate with multiple sources simultaneously

a DG-Solar-Grid-Battery

b Biomass-Solar-Grid-Battery

SLNo Modelspecification Load(kVA) SolarInverter(kW)

INSIGHT ON GREEN FINANCING IN INDIA

identified eight major missions including the National Solar Mission the National Mission for Enhanced Energy Efficiency, and the Green India Mission, among others These missions aim to promote sustainable development in various sectors of the economy, including energy, transport, agriculture, and forestry To support these missions, the Indian government has set up several funds and institutions to provide green finance

Union Budget 2023, presented by Hon’ble Finance Minister Smt Nirmala Sitharaman has also defines India’s firm stance on Green Growth by articulating the Government’s strategy for economic development with a focus on sustainable development. The Indian government has implemented several initiatives to promote green financing and sustainable development The issuance of sovereign green bonds by government entities and public sector companies has gained traction, providing a reliable investment avenue for green investors Green bonds are the bonds issued by a sovereign entity, inter-governmental groups, or corporates with the aim that the proceeds of the bonds are utilized for environmentally sustainable growth The Reserve Bank of India (RBI) has also introduced guidelines and incentives to encourage banks to prioritize green financing and recently auctioned its maiden sovereign green bonds worth ₹8,000 crore under its Sovereign green bond framework

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presents substantial economic opportunities It attracts domestic and international investors, stimulating the growth of clean energy sectors and related industries The renewable energy sector has already generated significant employment with the potential for further job creation as investment in green projects expands Green financing, therefore, acts as a catalyst for sustainable economic growth

The Reserve Bank of India (RBI) recently released a report for the fiscal year 2022-23, with a focus on sustainable growth and reducing carbon emissions The report addresses the four critical aspects of climate change, including its macroeconomic impacts, financial stability implications, and strategies to mitigate climate risks Recently RBI issued a framework for banks to accept and promote green deposits. A green deposit is an interestbearing instrument received by banks for a fixed period, the proceeds of which are earmarked for green-financing, such as funding of renewable energy projects Corporates looking for inclusion of a sustainability agenda into their treasury activities or those that have limited opportunities for investment in environmentally beneficial projects can invest in these green deposits

As per RBI reports on currency and finance (RCF) for the year 2022-23, India's green financing requirement is estimated to be at least 2 5 per cent of GDP annually till 2030 According to the report, a balanced policy intervention with progress ensured across all policy levers will enable India to achieve its green transition targets by 2030, making the net zero goal by 2070 attainable

Government Initiatives Towards Green Financing Conclusion

The energy sector of any economy holds critical importance for realizing its developmental goals India's commitment to sustainability is evident in its ambitious renewable energy targets and policy frameworks Although, India’s green finance sector is in a nascent stage, its G20 presidency in 2023 signals a clear drive towards sustainability in the form of its slogan ‘One Earth, One Family, One Future’ However, a large amount of capital inflow and a regulatory framework is required to achieve these objectives

One of the most significant steps taken by the Indian government was the ction Plan on Climate Change in 2008 The plan

India has made significant progress in its green funding efforts, but there is still a long way to go India is spearheading one of the world’s most ambitious clean energy transitions and remains steadfast in its commitment to combating climate change. Thus Green finance is truly paving the way for India’s sustainable future by providing the necessary financial support for environmentally sustainable projects The adoption of green finance has several benefits for India, including promoting sustainable development, reducing the carbon footprint, and improving energy security It is expected that India will continue to prioritize green finance and accelerate its efforts in unfurling a sustainable and greener future

Sineng Electric Powers the 320MW PV Project In Rajasthan with Its Inverter Solutions

The 320MW solar power plant in Rajasthan, India, equipped with 1657 units of Sineng’s string inverters SP-250K-INH, is running stably with performance outstripping initial expectations As part of Bhadla Solar Park, one of the world’s largest solar farms, the project generates about 2,200,000 kWh of electricity per day and is anticipated to generate 803 000 000 KWh of electricity annually equivalent to eliminating approximately 800,591 tons of carbon dioxide emissions each year

About Sineng

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

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

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

By pledging to reach the net-zero target by 2070, India’s prime minister, Narendra Modi, not only set the tone for the nation’s climate action trajectory, but also called for more businesses to take prompt actions –operating in smarter, more efficient and sustainable ways To embrace the long-term decarbonization, Sineng works to improve people’s access to clean energy and turn the vision into reality

With extensive experience gained in diverse projects and continuous innovation in technologies, Sineng’s industry-leading PV inverter solutions shine in the Indian market for their quality, efficiency, and safety. Located in Bhadla Solar Park the “almost unlivable” environment places greater emphasis on the inverters’ reliability, for normal temperatures hovering between 46 °C and 48 °C (115 and 118 °F) and sandstorms occurring frequently Sineng’s 250kW string inverters, given their IP66 and C5 anti-corrosion protection standards, can adapt to climate extremes while ensuring the PV plant’s stable operation Featuring maximum efficiency up to 99 0%, 12 MPPTs, I/V curve scan and diagnosis technology, the inverters optimize the LCOE and increase the return on investment

Having shipped over 9GW inverters in India and establishing a manufacturing facility in Bangalore of 10GW production capacity, Sineng consolidates its dominant position in the local market by delivering trustworthy solutions and localization services In the future, Sineng will continue to foster prosperity in the solar industry, fuel the energy transition, and uncover more opportunities for a greener future

Sineng stands at the forefront of India's clean energy revolution, driving the transition to a sustainable future. With industry-leading PV inverter solutions that withstand extreme climates and maximize efficiency, we empower businesses to embrace renewable energy and unlock the true potential of their solar projects. Together, we can turn Prime Minister Modi's vision of a net-zero India into a reality, creating a greener and brighter tomorrow for all."

Unlocking the Potential of Solar Energy: Power n Sun's Extensive Product Range

We at Power n Sun are a One-Stop Solar Solution, Supplies & System Company and have a wide range of products and services that are tailored to meet the needs of our customers We provide a comprehensive range of solar products, including solar PV modules, inverters, batteries, structures, connectors, and accessories We, Our team of experienced engineers and technicians is available to provide technical support and advice on all aspects of solar energy systems.

With a Legacy of 10+ years in solarizing Middle East, South East Asia, Africa & Europe, Power n Sun continues to challenge itself to exceed customers expectations and its true potential

Power n Sun has aggregated supplies of more than 1200 MW of solar components and footprints in 50 countries, with more countries being added consistently We are one of the largest and biggest distributors of solar components, and as an integrated solar project supplier, we ensure a complete BOQ in the shortest possible time and at the lowest cost

We have developed a unique approach to solar energy solutions that are based on our core values of quality, reliability, and affordability We strive to provide the highest quality products and services at the most competitive prices We are committed to providing our customers with the best possible service and support, with the best possible experience when it comes to solar energy solutions We strive to provide the highest quality products and services at the most competitive prices We provide our customers with the best possible service and support Our team is committed to providing the highest level of customer service and satisfaction

We understand that solar energy is a long-term investment, and we want to make sure that our customers get the most out of their investment That’s why we offer a wide range of services, including system design, installation, maintenance, monitoring, and repair We also provide financing options for our customers, so they can get the most out of their solar energy systems.

At Powernsun, we believe in creating a sustainable future for everyone by making solar energy accessible for all We strive to make solar energy more affordable, reliable, and efficient for everyone by leveraging technology, innovation, and expertise to create a better future for all. We are committed to helping our customers achieve their goals by providing them with the best possible solar energy solutions at an affordable price We are proud to be part of the global effort to reduce carbon emissions and create a more sustainable future We believe that solar energy is the key to a brighter future, and we are committed to helping our customers make the most out of their solar investments.

We take pride in our role as contributors to the global effort to reduce carbon emissions and foster sustainability. With unwavering conviction, we believe that solar energy holds the key to a brighter future. Together, we pave the way towards a cleaner, greener, and more sustainable world, one solar investment at a time.

Revolutionizing Solar Solutions in India: Introducing Power n Sun's New Products and Installer Program

Solar energy is becoming increasingly popular in India, and with the government’s push for renewable energy, the demand for solar products is growing We are committed to providing our customers with the best quality products at competitive prices Our products are designed to meet the highest standards of quality and performance and are backed by a comprehensive warranty.

Power n Sun's solar PV modules are designed to provide maximum efficiency and reliability We use only the best components and materials, and our modules are tested to ensure they meet the highest standards of performance. Our solar inverters are designed to be reliable and efficient and come with a comprehensive warranty We also offer a range of BOS components, including cables, connectors, junction boxes, and other accessories

We understand that our customers have different needs and requirements which change with time and market needs so we keep on adding new products as per the requirement of the market This is done by our team of qualified Engineers who does all the required quality checks, so you don’t have to By this we ensure the world-class products are supplied to our esteemed clients at the least available cost and available in a minimum time

We are committed to providing our customers with the best quality products at competitive prices We strive to provide excellent customer service and support so that our customers can get the most out of their solar systems We believe in providing our customers with the best possible experience when it comes to solar energy solutions.

Power n Sun is proud to announce the launch of our new products for the Indian market: solar inverters from INVT and SINENG, and a whole new product on an exclusive basis for the Indian market, which is SOLPLANET We also provide technical support and advice on the installation and maintenance of our products In addition we also provide training courses for installers and technicians, so they can get the most out of their solar systems

We take this opportunity to announce the launch of its Installer and Reseller Program in India This program has been successfully running in other countries and we are now bringing it to India We have already begun making new sub-distributors and dealers for India, state-wise, for our complete product range

The Installer and Reseller Program is designed to benefit both our resellers (both dealers and sub-distributors) and EPC companies Our resellers will be able to purchase our products at discounted prices, allowing them to offer competitive prices to their customers They will also benefit from our technical support, which will help them to install and maintain our products

EPC companies will benefit from our program as well We will provide them with the necessary training and support to ensure that they are able to install and maintain our products correctly We will also provide them with access to our technical support team, who can help them with any issues they may have

We are confident that our Installer and Reseller Program will be a great success in India We are committed to providing our resellers and EPC companies with the best possible service and support so that they can offer their customers the highest quality products at competitive prices.

If you would like more information on our reseller and installer programs, Please get in touch at info@powernsun.in, or contact us at +919560203011 We look forward to hearing from you soon!

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Harnessing the boundless energy

the sun, Power n Sun is driving a solar revolution

India. Our innovative products and dedicated installer program are empowering individuals and businesses to embrace renewable energy and shape a sustainable tomorrow.

Special Story

IMPORTANCE OF ACCELERATING THE GREEN HYDROGEN PROGRAM FOR ENHANCING RENEWABLE ENERGY ADOPTION IN INDIA

India is at a turning point in its pursuit of a sustainable future The country understands how crucial the Green Hydrogen Programme may be in accelerating this transformation as part of its lofty goal to boost the use of renewable energy. Green hydrogen, created by electrolyzing water with renewable energy, has enormous potential to increase India's adoption of renewable energy This emphasizes how critical it is to get the Green Hydrogen Programme forward and how it might completely alter the nation's renewable energy environment

Green hydrogen has distinguished itself among the alternatives as a promising route that can greatly aid in the country's pursuit of renewable energy goals The significance of advancing India's Green Hydrogen Programme and its potential to increase the penetration of renewable energy sources are discussed

The Importance of Green Hydrogen: Water is electrolyzed to create green hydrogen using electricity provided by sustainable resources like solar and wind energy Given that it may be stored, moved, and used as fuel for a variety of industries and power generation systems, it has enormous potential as a clean energy carrier India can overcome the issues of intermittent ness and grid stability in renewable energy systems by utilizing green hydrogen, allowing for higher penetration of renewables into the energy mix

Unlocking Energy Storage and Grid Flexibility: Green hydrogen's capacity to store surplus renewable energy during times of low demand is one of its main advantages India can successfully convert sporadic renewable energy into a steady and dispatchable energy resource by using excess electricity generated from renewable sources to manufacture hydrogen Even during times of high demand or when the amount of renewable energy production is insufficient, this energy storage capability can increase grid flexibility and guarantee a steady supply of electricity.

Diversifying the Energy Landscape: India could diversify its energy mix and lessen its reliance on fossil fuels by accelerating the Green Hydrogen Programme The nation currently relies significantly on imported fossil fuels and coal for both transportation and power production India can forge a sustainable path that lessens climate change, lowers air pollution, and improves energy security by embracing green hydrogen In addition, green hydrogen can support India's ambitious goals for renewable energy, accelerating the shift to a low-carbon economy

Enhancing Economic Growth and Job Opportunities: The development of the green hydrogen industry has the potential to significantly enhance the nation's economy and open new job opportunities Investments would be needed to build infrastructure for hydrogen storage and distribution,

research and development facilities, and hydrogen production facilities Along with attracting both domestic and foreign investment, this would also create a many skilled employees along the entire value chain, from production to operations and maintenance. Thus accelerating the Green Hydrogen Programme can help to address urgent environmental issues while also acting as a catalyst for economic growth

Technological Advancements and International Cooperation: Promoting India's Green Hydrogen Programme would also promote international cooperation Numerous nations worldwide are actively funding research and development for green hydrogen, and collaborations with leaders in the field can promote knowledge transfer, technology transfer, and joint initiatives Through such partnerships, technological development and cost reduction can proceed more quickly, increasing the viability of green hydrogen from an economic standpoint and enabling its wide adoption.

For India's transition to renewable energy, the Green Hydrogen Programme must move forward faster than ever India can increase the penetration of renewable energy, develop energy storage capacity, diversify its energy mix, promote economic growth, and support global efforts to address climate change by taking advantage of the enormous potential of green hydrogen

A route to energy storage, grid stability, and the integration of renewables across many sectors is provided through the Green Hydrogen Programme Accelerating the Green Hydrogen Programme is crucial as India works to achieve its goals for renewable energy and tackle climate change It is a pivotal step towards an India that is cleaner, greener, and more sustainable Prioritizing and advancing the Green Hydrogen Programme will pave the way for a greener, cleaner, and more resilient future for India and the globe as a whole as the country pursues its sustainable development goals

Pioneering Renewable Energy Solutions for a Sustainable Future with SOFAR

SOFAR is a global leading supplier of solar PV and energy storage solutions and committed to be the leader of digital energy solutions

SOFAR supports the transition to renewable energy through a comprehensive portfolio including PV inverters range from 1kW to 255kW, hybrid inverters range from 3kW to 20kW, battery storage system, utility ESS and smart energy management solutions for residential, C&I, and utility-scale applications

Founded in 2013, SOFAR has always insisted on independent innovation, established a global R&D network with three R&D centers and over 400 of its workforces assigned to R&D, thus gradually establishing the holistic technology and product R&D system

SOFAR has implemented a globalization strategy since its establishment and now has two global manufacturing bases with an annual production capacity of 10GW PV & storage inverters & 1GWh batteries and an extensive service network of over 20 branch offices worldwide SOFAR offices can now be found in the UK, Poland, Germany, South Korea, UAE, Pakistan, Australia, etc By the end of 2022, SOFAR had shipped over 18GW inverters to more than 100 countries and regions around the world

As the world's fastest-growing solar energy brand, SOFAR stands firmly among the mainstream solar energy brands with a compound annual growth rate of over 100% from 2020 till 2022 Due to the abilities in cutting-edge solar technologies, SOFAR has achieved China "CQC" certification, Chinese Top 5 String Inverter Brand, TOP5 Global Hybrid Inverter Manufacturer and entitled by EuPD as TOP Brand PV Inverter in India, Poland, the U K , Italy and Brazil

Looking forward, SOFAR will adhere to its mission of “Technology Drives Green Energy” and its value of Virtue & Integrity, Collaboration & Effectiveness to build its core competitiveness in independent innovation in a net-zero era, expecting to accelerate the global clean energy transition, leveraging its leading solar and energy storage products and solutions

Learn more about SOFAR by visiting: https://www.sofarsolar.com/

SOFAR: Harnessing the power of the sun, illuminating a greener world. With innovative solar and energy storage solutions, we lead the way. From residential rooftops to vast utilityscale projects, Our commitment to sustainability grows, our impact forever stays. Together, we accelerate the clean energy transition, shaping a brighter future every day.

Tech Story

TECHNOLOGY ADVANCEMENT IN INDIA'S SOLAR INDUSTRY IS FUELED BY GREEN FINANCING

With solar energy playing a crucial role in the nation's clean energy transition, India has become a global pioneer in the field of renewable energy Recent technological developments in the Indian solar business have been greatly aided by green funding, opening up new prospects for expansion and innovation

Green funding is the use of funds for initiatives that benefit the environment such as solar power plants and other renewable energy projects Various financial tools, such as loans, bonds, and other kinds of investments, are used in it since they are intended to assist ecologically sustainable efforts Due to supportive government policies, rules, and financial incentives that have sparked investments in the solar industry and hastened technology breakthroughs, green financing has gained traction in India

The deployment of larger-scale and more powerful solar power plants is one of the main ways that green financings have helped the Indian solar industry progress technologically Green financing has made it possible for project developers to acquire long-term, low-cost funding, making utilityscale solar projects financially viable Large-scale solar power facilities require considerable upfront capital inputs Due to this, large solar power projects and solar parks with capacities ranging from tens to hundreds of megawatts (MW) have been built, which has helped India's solar power capacity increase

Research and development (R&D) investments made using green finance have also helped enhance technology Solar energy companies can now access finance for R&D projects aimed at increasing the effectiveness, dependability, and affordability of solar panels, inverters, and other solar power system components thanks to green financing. As a result of these R&D efforts, cutting-edge solar technologies have been created, including high-efficiency solar cells, cutting-edge tracking systems, and energy storage options, which have improved the performance and competitiveness of solar power systems in India

Furthermore through promoting investments in start-ups and novel business models, green financing has promoted innovation in the Indian solar industry Many green finance programs, including venture capital

funds, angel investments, and impact investment funds, are especially focused on assisting young businesses in the solar industry that are creating ground-breaking goods, services, or technologies These investments have aided in the incubation and expansion of creative start-ups that are advancing technology in fields including solar energy analytics, Internet of Things (IoT)-based solar monitoring and maintenance, and solar-powered household products and rural electrification solutions

Furthermore, green finance has made it more feasible for commercial and industrial consumers to invest in solar power, which has aided the adoption of distributed solar energy systems like rooftop solar installations Solar loans and power purchase agreements (PPAs) have made rooftop solar panel installation accessible for businesses, which has led to a significant increase in the use of solar energy among commercial and industrial consumers. In addition to lowering businesses' carbon footprints, this has encouraged the deployment of cutting-edge solar technologies to maximize solar power generation, consumption, and grid interaction, such as smart inverters, remote monitoring systems, and energy management software

In addition to the immediate advantages of technology, green funding has helped the Indian solar industry grow economically and create jobs Demand for specialized workers in fields including project planning, engineering, construction, operations, and maintenance has increased due to the expansion of solar power plants Employment opportunities in research, product development, and manufacturing of solar technology have also been created by the emergence of solar start-ups. The solar business has sparked economic growth that has benefited local communities and helped India meet its targets for renewable energy

It is important to note that there are still certain difficulties with green finance in the Indian solar business, including the lack of accessible longterm financing ambiguities concerning regulations and policies and market risks For the successful deployment of solar projects across the nation, efforts must be made to further increase the availability of green funding

Skyfri: Revolutionizing PV Solar Asset Management for Optimum Efficiency

The growth in PV solar sector is tremendous, with trillions of dollars invested The growth makes it challenging to manage solar power assets with optimum efficiency The biggest problems are acquiring the data from the site processing the data remote monitoring and control and analysis of data Skyfri offers end-to-end digital asset management solution for PV solar plants

Skyfri is a Norwegian clean-tech company having headquarters in Oslo, Norway and having offices in US, Singapore, London, South Africa and India Skyfri is a one stop solution to cater to all the needs of the solar PV plants- right from SCADA to analytics platform and Operations and Maintenance

Skyfri’s IoT device fetches the plant data from the site at remote location and transfers the data from the site devices to the cloud under strong security protocol It is device agnostic and easy to install Data is then stored and monitored by our cloud platform for analysis of plant performance and optimization of loss Integrated CMM (Computerised Maintenance Management) system dynamically creates incidents and assigns priority tickets to site team and/or OEMs Various modular functions enable efficient day-to-day management, and we break down silos with easy integration with third party software Enabling one single source of truth for asset managers and –operators and maximizing performance - in real time

The below picture describes different products by Skyfri.

Skyfri Intelligence:

Monitoring:

The Monitoring module provides real-time as well as historic analysis of the important KPIs It also provides visualisation of different KPI graphs for different time intervals SCADA alarms can also be integrated to this module

Analytics:

This module has advanced analytics like loss bucketing, soiling analysis, equipment efficiency loss and other controllable and uncontrollable losses Insights are directly provided as to where the O&M team should concentrate to bring back the plant to its optimal efficiency

CMMS:

The CMMS (Computerised Maintenance Management System) provides the complete solution to manage Preventive maintenance, Breakdown maintenance, Ticketing, Material Management and Permitto-work

Billing:

The billing module of Skyfri Intelligence provides Tariff billing solution This is a customised module which can tailor-made according to the requirements of the customers.

The Skyfri intelligence is device agnostic and can be used for both rooftop and ground-mount plants This system is available globally

For any sales related queries, please drop your requirements to sales@skyfri com

SolarSCADA:

The hardware solution of Skyfri is pre-configured, including Pyranometer and module temperature sensors By bundling the hardware and software, Skyfri offers a solution that delivers control, data analytics, insights and control

It is ideal for scaling distributed solar assets as it is an all-in-one package designed to reduce installation time, cost and where all the risks of configuration, compatibility and installation errors are taken out of the equation This is also a proven alternative for retrofitting on existing assets where data collection is a challenge

This solution is available in US, Europe now and will soon be launched in other markets

SolaX 40 KW to 150 KW Grid-tied Inverter - The Ultimate Solution for C&I Applications

SolaX, a market-leading provider of solar solutions, offers a selection of on-grid options to meet the growing needs of commercial and industrial (C&I) clients Notably, X3-MEGA G2 and X3-FORTH are among the most popular and highly recommended three-phase inverters for C&I solar systems due to their optimal performance and capacity to generate maximum profits.

More Energy Harvest

X3-MEGA G2 and X3-FORTH offer exceptional efficiency, reaching up to 98 4% and 99%, respectively With a maximum MPPT current of 32A, they can support 150% PV oversizing input and 110% overloading output, compatible with high-power PV modules in the current market Besides, they can work in parallel with up to 60 units of on-grid inverters via Datahub for higher solar energy yields and more profits

Superior Intelligence

X3-MEGA G2 and X3-FORTH come equipped with advanced features that provide superior intelligence These include smart I-V curve diagnosis for detecting and diagnosing solar panel issues and a builtin export power control function Moreover, night-time reactive power compensation ensures stable system operation They also offer 24hour operation monitoring and remote setting and upgrading, giving users complete control over their systems

Reliable Safety

SolaX X3-MEGA G2 and X3-FORTH are aimed at meeting the growing energy demands of businesses and industries while reducing their carbon footprint From SolaX you can expect not only advanced solar solutions but also comprehensive technical support and attentive after-sales service. As such, SolaX is well-positioned to help C&I clients worldwide to achieve their sustainability goals

For more details please write us on info@solaxpower com

Four X3-FORTH (80kW-150kW) in Parallel

X3-MEGA G2 40kW/50kW/60kW

Business Insights

INDIAN SOLAR INDUSTRY: GREEN FINANCING-CURRENT TRENDS AND PROSPECTS

With ambitious goals to reach 500 GW of renewable energy capacity by 2030, including 280 GW of solar power, India is one of the world's markets for solar energy that is expanding the fastest India's solar business has expanded significantly in recent years thanks to supportive government regulations, falling solar costs, and rising environmental sustainability awareness However, the development and deployment of solar projects involve large investments, and the industry's expansion depends on having access to inexpensive and sustainable finance Green financing, which is the term for financial services and goods that support environmentally friendly initiatives, has emerged as a crucial enabler for the Indian solar industry, providing the money required to create and maintain solar projects

India is one of the markets for solar energy that is growing the fastest in the world, with ambitious objectives to reach 500 GW of renewable energy capacity by 2030, including 280 GW of solar power The solar industry in India has grown dramatically over the past few years as a result of favorable government policies, declining solar costs, and growing environmental sustainability awareness However, the creation and implementation of solar projects need significant financial outlays, and the growth of the sector depends on having access to affordable, environmentally friendly financing The term "green financing," which refers to financial products and services that promote environmentally friendly efforts, has come to be seen as a critical enabler for the development of the Indian solar sector by providing the funding needed to develop and operate solar projects

In recent years, there has been a substantial influx of green financing into the Indian solar business According to industry statistics, the Indian solar industry received $10 3 billion in total green finance in 2020, with the majority of investments coming from loan financing The Indian government has also taken several steps to encourage green funding in the solar sector including the creation of funds with a specific purpose such as the National Clean Energy Fund, the Green Energy Corridor Development Programme, and the Indian Renewable Energy Development Agency (IREDA) Commercial banks, non-banking financial organizations (NBFCs), and specialized green banks have all contributed significantly to the green financing of the solar industry.

Although the Indian solar industry has made great development, there are still several issues with green funding The regulatory and policy ambiguity, which can affect the financial feasibility of solar projects and cause confusion for investors, is one problem This includes changes in feed-in tariffs subsidies and other incentives. Another issue is the lack of knowledge and skills among stakeholders, such as solar developers, investors, and financial institutions, concerning green financing choices and their advantages This may limit the amount of money available for solar project funding and impede the adoption of green financing The availability and cost of green financing may also be impacted by changing s changes in interest rates, currency exchange or solar energy

Green financing has benefited the expansion of the Indian solar industry despite these obstacles The ability to obtain the money required for project development, equipment acquisition, and operating capital requirements has encouraged increased investment in solar projects. Solar project development and operation demand trained labor, therefore green funding has also helped to create jobs in the sector Green funding has also accelerated technological advancement, promoted solar technology innovation, and lowered the cost of solar energy production Additionally, green funding has aided in the development of renewable energy projects, the reduction of greenhouse gas emissions, and the mitigation of the negative effects of climate change

The Indian solar business has bright prospects for green funding in the future It is anticipated that favorable policy and regulatory frameworks for green financing will be developed as a result of the Indian government's sustained emphasis on renewable energy and environmental sustainability, as well as worldwide pledges to battle climate change Stakeholders are becoming more aware of the advantages of green financing, and initiatives are being taken to increase capacity and encourage information sharing in this sector Financial institutions are creating specialized products and services to meet the needs of the solar industry as they increasingly recognize the potential of green finance A major driver of green financing in the Indian solar industry is anticipated to be the emergence of creative financing methods including green bonds, green funds, and other impact investment models

Policymakers, financial institutions, and other stakeholders should take into account several proposals to further boost green finance in the Indian solar industry This includes risk mitigation strategies like insurance and guarantees to address perceived risks, collaboration among stakeholders to facilitate knowledge sharing and best practices, and stable and advantageous policy and regulatory frameworks that offer clarity and certainty to investors Additionally, to meet the particular issues of the solar business, financial institutions might create creative financing models, such as blended finance, which combines several funding sources, such as concessional finance, philanthropic funding, and commercial investments

The Indian solar industry has found a big enabler in green financing, which provides the money needed for solar project development and deployment Increased investment, the creation of jobs, the advancement of technology, and environmental sustainability have all benefited from it Despite obstacles, there are bright prospects for green financing in the Indian solar business. Favorable policies raising awareness and creative financing methods are anticipated to spur this trend's wider adoption Policymakers, financial institutions, solar producers, and investors working together may further advance green financing and hasten India's transition to a greener energy future

Advancing Solar Energy with State-of-the-Art Manufacturing and Sustainable Solutions

PIXON is a leading solar module manufacturer that specializes in manufacturing high-quality solar modules and EVA Film. The company has established itself as a reliable and efficient manufacturer of solar panels and has built a solid reputation among its customers

One of the key features of PIXON is its State-of-the-art European technology manufacturing capacity Earlier, the company had 400 MW capacity which expanded to 1 GW to manufacture higher WP Multibusbar modules with European technology This highly advanced manufacturing line works with minimal human intervention to ensure the quality and reliability of the solar panels

PIXON’s new manufacturing line will be capable of manufacturing M6 M10, and M12 modules, offering power output of up to 600 Wp and an efficiency rate of upto 21 20% These advanced modules offer customers the opportunity to optimize their energy production, as they provide greater efficiency and power output

Another notable feature of PIXON is its focus on backend integration, initiating with 1 GW clean room environment facility for EVA Film, this facility is designed to provide a sterile environment for the production of EVA film, a key component of solar panels The clean room environment ensures that the EVA film is free from contaminants and other impurities that could affect the quality and performance of the solar panels.

Overall, the combination of advanced manufacturing technologies, a commitment to quality, and a focus on innovation makes PIXON a standout player in the solar panel industry With its existing manufacturing capacity and plans for further expansion, the company is well-positioned to meet the growing demand for clean energy solutions and help drive the transition to a more sustainable future

PIXON envisions to globally providing efficient solar energy products and solutions. Thus, contributing and enhancing Global Climate Sustainability.

Deye's High-Voltage Lithium Battery Solutions for Reliable Energy Storage

Deye provides reliable and high-performance energy storage systems with lithium chemistry (LiFePO4) These rechargeable energy storage systems can be integrated with renewable energy systems to store the surplus energy generated and supply smooth energy during energy demand The lithium batteries ensure timely dispatch of energy to cater the peak load demand by peak shaving and load levelling.

To provide stable and reliable power in large scale applications, the stability of the voltage and frequency should be considered Thus, Deye energy storage systems can maintain the voltage and frequency of power supply. Thus, Deye energy storage systems helps in frequency regulations, peak shaving and power management

Deye, the industrial-advanced energy storage system solution provider has launched the BOS-G series “High Voltage Lithium Battery” The high voltage batteries are becoming increasingly popular for commercial energy storage demands and also for home backup applications. In recent development, high voltage batteries have observed beneficial for peak shaving applications BOS-G series provide increased energy output to support heavy loads such as pumps, machines etc High voltage battery systems are less likely to overheat making them safe to use for different applications

Deye’s high voltage batteries can be used in large scale industrial or commercial applications such as schools, colleges, banks, farms, resorts, data centres, malls, factories etc and in residential areas and is expanding

in areas where there is no access to grid power or frequent power outages is experienced Deye ensures flicker free and stable power output without any blackout and helps in achieving economic benefits by integrating the lithium batteries with renewable energy systems

BOS-G series comprises of lithium batteries which has a capacity of 5 12kWh with nominal voltage 51 2V and module capacity of 100Ah The BOS-G series features 19inch standard embedded design module The battery has a capacity ranging from 20 48kWh to 61 44kWh composed of 4-12 battery modules respectively The intelligent BMS in each rack manages the charge and discharge and automatically balances the current and voltage of each cells The BMS protects the battery from over discharging, over charging, over current, and temperature These are plug and play solutions and has aerosol fire extinguishing ensuring battery safety It can operate for more than 6000 cycles This energy storage solution allows future expansion and flexibility in connection which enables to connect more batteries in parallel for high backup. The smart monitoring system enables remote upgradation and it also supports USB upgradation The energy storage module is non-toxic, non-polluting, nonexplosive and is environmentally friendly These cobalt free batteries improves the electrical performance and increase the life of the batteries There is no effect on the memory of the batteries when not in use The high voltage lithium battery observes very less self-discharge The modular arrangements consume less time in installation and needs no maintenance The batteries are compact and easy to handle These batteries satisfy CB or UL standards

Market Research

INDIA INSTALLED 12.8 GW OF SOLAR PV CAPACITIES IN THE FINANCIAL YEAR 2022-2023

With around 12,783 MW of total Solar PV capacity installed in the financial year (FY) 2022-23, an improvement over roughly 13,911 MW built in the financial year 2021-22, solar capacity additions decreased by 8% year-overyear in FY 2022-23. The total installed capacity in the FY year 2021-23 inclusive of utility-scale, rooftop, and off-grid system account for 13,911 MW

Large-scale installations reached a total of around 9 72 GW in FY 2022-23, as opposed to around 10 147 GW, installed the year before in FY 2021-22 In comparison to installed capacity in FY 2022-23 large-scale installations have declined by 4 25% year over year The market opened after the partial restriction in 2021, and as a result, many projects were unable to get commissioned during the lockdown period due to COVID-19 restrictions, commissioned mostly in 2022-23 Additionally, there was a duty-free window in Q1 2022, which allowed the developers to commission their

projects during this period The large-scale Solar PV project installation figures were the highest since the announcement of the JNNSM target for Solar in FY 2021-22

In comparison to the staggering 2 78 GW deployed in the entire FY year of 2022-23, rooftop solar installations accounted for about 2 205 GW in FY 2021-22, an increase of 3 29%

Solar PV Installations were exponentially on the higher side than usual compared to the previous year because the country is no longer subject to COVID-19 restrictions, 2022 was the final year for the JNNSM target, but supply chain disruptions occurred in the second half of 2022 as a result of the implementation of BCD and the upgrading of Chinese manufacturing facilities

Since India's installed capacity in 2021-22 was 13 91 GW during the entire Financial year (CY) 2021-22 the growth rate of solar PV installations is expected to be extremely favorable in 2023

Between 2016 and 2019, Indian solar PV installations grew exponentially, however, COVID-19 has caused a slowdown in new installations The installations in FY 2019-20 dropped from 6 45 GW in FY 2018-19 to 5 457 GW. The installations were fairly favorable in those two calendar years compared to the prior years, but since 2021, they have reversed course India requires more projects to be completed in the upcoming year to meet the ambitious 280 GW target set by the government for 2030

Thanks to government initiatives and declining solar technology costs, India has seen tremendous growth in recent years in both utilityscale and rooftop solar installations

Through a number of programmes and programmes, including the National Solar Mission, the Solar Park plan, and the Rooftop Solar programme, India has been actively supporting solar energy To promote investment in the industry the government has also adopted a number of financial incentives, including subsidies, tax exemptions, and soft loans

Overall, favourable government regulations, declining solar technology costs, and growing public knowledge of the advantages of clean energy are projected to fuel the expansion of solar rooftop and utility-scale installations in India over the next few years

India has been seeing significant growth in both solar rooftop and utility-scale solar installations in recent years, driven by government policies and falling costs of solar technology

India has been actively promoting solar energy through various policies and initiatives such as the National Solar Mission, the Solar Park scheme, and the Rooftop Solar program The government has also implemented several financial incentives such as subsidies, tax exemptions, and soft loans to encourage investments in the sector

Overall, the growth of solar rooftop and utilityscale solar installations in India is expected to continue in the coming years, driven by supportive government policies, falling costs of solar technology, and increasing awareness of the benefits of clean energy.

MARKET STATISTICS

TOTAL SOLAR PV INSTALLATIONS AS OF MARCH, 2023

In the above pie chart, Renewable capacity additions continue to increase at a rapid pace in India, accounting for approximately 30 1% of total India’s power capacity at the end of March 2023 India’s total installed power capacity stood at over 416 GW at the end of the first quarter of the calendar year 2023 from all the sources, with renewables accounting for 125.159 GW making up 30.1%, compared to cumulative renewable energy installations of 109 885 GW at the end of March 2022, which represented a growth of 13 9% year-over-year Solar power accounted for approximately 66 78 GW of installations, which represents 16 1 % of the total installed power capacity. The share of Solar power in the installation mix grew by 23 67 % in March 2023 compared to March 2022 Among the renewable, Wind and Solar constitute around 87 4% of the total renewable, Wind Power installed capacity at the end of March in the Calendar Year 2023 was around 42.63 GW, which represents 10 2% of the total power capacity installed

SOLARQUARTERRESEARCH

India installed around 3.477 GW of Solar PV projects in the first quarter of calendar year 2023 from January to March 2023 The country's total Solar PV installations crossed 66 78 GW by the end of March 2023 Rajasthan installed over 17 055 GW, there is a growth of 4 38% quarter over quarter with the installation of over 714 95 MW in the first quarter of calendar 2023 Among the Top Solar States such as Gujarat, and Maharashtra stepped one position ahead compared to their position in the same period in 2022 except Karnataka, Telangana, Andhra Pradesh, and Madhya Pradesh while Tamil Nadu, Uttar Pradesh, and Punjab maintain their previous position in the same period There was a growth of over 27% year over year compared to the total Solar PV installation of 53 996 GW by the end of March 2022.

INDIA RENEWABLE MIX

SOURCE:MNRE

SOURCE:CEA,MARCH2023,SOLARQUARTERRESEARCH

INDIA POWER MIX

Total renewable energy generations in March 2023 reach 17,164 72 million units, there is a growth of RE generations by around 9 73% over March 2022, where the RE generations were 15,643 06 million units Solar Power generation has been increasing by over 22 8% year-over-year from March 2023 (10,244 34 million units) to March 2022 (8,338 23 million units), Wind Power generation has increased by almost 3 4% in the same period and reached 4,141 07million units in March 2023

IEX

ELELCTRICITY MONTHLY TRADED VOLUME 2022-23

I n M i l l i o n U n i t ( M U )

SOURCE:IEX

SOLARQUARTERRESEARCH 8652 8760 9605 7574 7596 8267 7151 7805 8160 7972 7764 8452 8200

SECI MONTHLY PURCHASE OF SOLAR/WIND POWER IN 2022-23

Solar Energy Corporation of India (SECI) paid ₹17 2 billion ( $209 75 million) to Solar and Wind developers for power purchased in the first two months of the calendar 2023 The disbursed amount was highest in the mid of 2022 which was June & July There were many ups and down in the payment to generators in the full year of 202223 as shown in the above chart The highest and lowest payments were made in July and January 2022 (lower due to lower wind speeds, and winter months across India) While SECI paid ₹17 2 billion for the purchase of Solar & Wind in the first two months of the first quarter of the calendar year 2023 The payment made to the power generators such as wind and solar were quite high in the second half compared to the first half of the financial year 2022-23

TREND OF SOLAR TARIFF, 2022-23

In the first quarter of 2023, 26,051 million units (MU) of total volume were traded in IEX (Indian Energy Exchange) which shows a yearover-year decline of 3.6 percent compared to the 27 017 million units of volume traded in the first three-month of the calendar year 2022 The monthly traded volume shows the highest in March 2023

The Indian Energy Exchange, India’s premier energy exchange, achieved a 7,928 million units’ total volume in the first month (April 2023) of the financial year 2023-24, including green market trade of 280 MU, 1 99 lac RECs (equivalent to 199 MU) and 1 23 lac ESCerts (equivalent to 123 MU) The overall volume during the month was higher by 6% on a YoY basis The price during April 2023 was ₹5 41/unit, declining 46 % YoY, from ₹10/unit in April 2022 due to an improving supply-side scenario leading to increased liquidity, as well as cooler weather conditions Sell-side liquidity improved on the Exchange due to Government initiatives to ensure adequate power supply during this summer season, including gas-based thermal power that was made available on the Exchange

While an increase in power demand is expected in the coming months, supply-side liquidity is likely to be maintained due to improved coal supply This will lead to competitive prices and higher clearance for Discoms & Open Access consumers

SOURCE:SECI JAN-22 MAY-22 SEP-22 MAR-22 JUL-22 NOV-22 DEC-22 JAN-23 FEB-23 FEB-22 JUN-22 OCT-22 APR-22 AUG-22

lowestTariff(INR/Kwh)

SOURCE:SOLARQUARTERRESEARCH

After the imposition of BCD on Solar PV modules and Cells, the tariff rate of Solar auctions has increased, also the pace of Solar auctions is increasing after the end of the financial ctions are happenings these days Other factors for the increase in tariff rate are the exchange rate fluctuation along with the ongoing war between ief for the developers is that the government is extending the commissioning due date, due to ongoing disruption in the solar supply chain