Month in a Minute India Solar Update July

Several hydropower projects in India are witnessing significant overruns in both time and costs. Only 28 percent of the total hydropower potential in India – out of 148 GW has been developed so far, according to a report by PwC-Associated Chambers of Commerce and Industry of India (ASSOCHAM).

India can integrate the entire targeted 175 GW of renewable energy into the national electricity grid based on projected power system plans and regulations according to a study “GREENING THE GRID: Pathways to Integrate 175 GW of Renewable Energy into India’s Electricity Grid” which confirms the technical and economic viability of integrating 175 GW of renewable energy into India’s power grid by 2022, and identifies future course of actions that are favorable for such integration.

Tamil Nadu Electricity Regulatory Commission (TNERC) rejected petitions from three Adani subsidiaries regarding implementation of must-run status of solar projects in Tamil Nadu.

Piramal Finance, a subsidiary of Piramal Enterprises, approved additional funding of Rs.7 billion (~$107.8 million) to ACME Solar Holdings. The funds were approved under a Flexi Line of Credit.

Rural Electrification Corporation of India raised $450 million through the sale of green bonds on the London Stock Exchange (LSE).

Power Grid Corporation of India (PGCIL) filed a petition with the Central Electricity Regulatory Commission (CERC) seeking regulatory intervention on an urgent basis to ensure efficient utilization of bays for connectivity by wind and solar generation projects.

IFC, a member of the World Bank Group, invested $103 million in L&T Infrastructure Finance Company, a wholly-owned subsidiary of L&T Finance Holdings, by subscribing to the first market-approved Green Bond issued by L&T Infrastructure Finance.

Tamil Nadu Generation and Distribution Corporation (TANGEDCO) is set to sign power purchase agreements (PPAs) for 1,500 MW of solar at a rate of Rs.3.47 (~$0.054)/kWh.

CleanMax Solar, an Indian rooftop solar developer, raised $100 million (Rs.6.5 billion) in equity financing from Warburg Pincus, a New York-based private equity firm.

Hindustan Power, an Indian Renewable Energy firm, acquired 15 solar power generation projects in Japan.

Supreme Court of India issued an order allowing the trade in Wind Renewable Energy Certificates (RECs).

In the three-month period April to June 2017, India recorded a power supply deficit of 0.6 percent.

Solar Energy Corporation of India (SECI) cancelled solar tenders aggregating 950 MW.

Power Purchase Agreements (PPAs) for wind projects aggregating 1,049.9 MW were signed.

Rs.2.20 (~$0.034)/kWh is the lowest quoted tariff to develop a solar rooftop project under the RESCO mode.

The introduction of reverse auctions has spurred activity in the wind sector, making it lucrative again.

The office of the Directorate General of Anti-dumping & Allied Duties (DGAD) India, has started the investigation into the anti-dumping petition – filed by the Indian Solar Manufacturers Association (ISMA) – against solar imports from China, Taiwan, and Malaysia.

A separate solar and non-solar renewable purchase obligations (RPO) system should be reviewedaccording to Mr. Piyush Goyal, Minister of Power.

As of July 12, 2017, 250.1 million smart and energy efficient LED bulbs distributed under the Unnat Jyoti by Affordable LEDs for All (UJALA) program.

National Thermal Power Corporation (NTPC) is on the lookout for an off-taker to procure solar power from the 250 MW Kadapa solar park in Andhra Pradesh.