Month in a Minute

The Asian Development Bank (ADB) approved a $100 million (~Rs.6.46 billion) loan to the Punjab National Bank (PNB) to finance large solar rooftop systems on industrial and commercial buildings across India.

All solar equipment and its parts will attract 5 percent GST.

Solar in India accounted for ~13.5 billion units of electricity produced in the country during the financial year (FY) 2016-17, up from ~7.4 billion units in FY2015-16.

In April 2017, India recorded a power supply deficit of 0.5 percent, 100,801 million units (MU) of energy was supplied against the requirement of 101,329 MU.

Hitachi, a Japanese electronics conglomerate, signed a Memorandum of Understanding (MoU) with CleanMax Solar to enter the Indian solar market.

India will raise Rs.23.6 billion (~$364 million) from green masala bonds for renewable energy development in the country.

To fulfill energy demands the government of Uttar Pradesh is considering setting up 750 MW of solar at Bhadla.

The Appellate Tribunal for Electricity (APTEL) directed the Chairperson of the Tamil Nadu Electricity Regulatory Commission (TNERC) to hear Adani Group’s plea over solar power curtailment issues faced by the company in Tamil Nadu.

The National Thermal Power Corporation (NTPC) is planning to meet its entire auxiliary power requirement through domestically manufactured solar equipment.

Some Indian utilities are showing improvement while others are not, out of the 41 DISCOMs rated, five received a rating of A+ (up from three), six were rated A (no change), eight utilities were rated B+ (down from 10), 10 received a rating of B (up from eight), five utilities received C+ ratings (down from eight), and seven DISCOMs were rated C (up from five).

The top 5 companies accounted for 39 percent of rooftop market share and the top 20 companies accounted for almost 80 percent of all rooftop installations as of Q1 2017.

In the 11 months from April to February in financial year (FY) 2016-17, export and import activity totaling $2.61 billion (~Rs.175.7 billion) was registered in the Indian solar sector..

In the 500 MW Bhadla Phase-III Solar Park auction, ACME quoted a record low tariff of Rs.2.44 (~$0.037)/kWh to win bid to develop 200 MW of solar.

The top 20 developers account for almost 60 percent of all operating utility-scale solar projects in the country as of Q1 2017.

The Ministry of New and Renewable Energy (MNRE) approved a tender of another 1,000 MW under its Wind program on May 4, 2017.

Even though all solar parks come under the same policy (solar parks are being developed in collaboration with state governments with Solar Energy Corporation of India (SECI) as the implementing agency), each solar park has a different fee structure which is leading to the varying in tariffs and project costs.

The Andhra Pradesh Southern Power Distribution Company (APSPDCL), a state distribution company, has decided to renegotiate power purchase agreements (PPAs) it had signed with wind project developers.

Memorandum of Agreements for the sale of power from 1,000 MW wind capacity auctioned by Solar Energy Corporation of India, has been signed.

In the financial year (FY) 2016-17, renewable energy projects totaling 11,319.71 MW were installed in India, this was 5,340 MW less than the targeted capacity.

The Solar Energy Corporation of India (SECI) has reduced the levelized ceiling tariff for the amended 500 MW rooftop solar tender; the new tariff for general category states and union territories is Rs.5.97 (~$0.092)/kWh and Rs.4.42 (~$0.068)/kWh for special category states and union territories.