AfDB Approves Multinational Financing Program for 45 MW of Distributed Solar Projects

AfDB Approves Multinational Financing Program for 45 MW of Distributed Solar Projects

The Board of Directors of the African Development Bank (AfDB) has approved a multinational financing program for distributed energy service companies (DESCOs). The program will contribute to the installation of an ...
/ / Off-grid, Solar
China’s National Energy Administration (NEA) has approved 22.78 GW of feed-in tariff (FiT) based solar projects. These solar PV projects are expected to be grid-connected by December 2019. They have been approved under China’s first national unified bidding for solar projects seeking feed-in-tariffs. A total of 4,338 solar PV projects with a combined capacity of 24.55 GW were proposed to be developed, but only 3,921 projects totaling 22.78 GW have received the official approval. Apart from these, 417 proposed solar projects with a capacity of approximately 1.77 GW have not been approved. Out of the approved projects, 366 are ground-mounted utility-scale solar projects with a total capacity of 18.12 GW. Moreover, 473 of them are distributed generation solar projects totaling 0.56 GW while 3,082 are self-generation or excess capacity solar projects totaling 4.10 GW. The feed-in-tariffs approved range from RMB 0.2795 ($0.0406)/kWh to RMB 0.55 ($0.08)/kWh. The average submitted tariff was RMB 0.3281 ($0.0478)/kWh, and the official deadline of the approved 22.78 GW is set for December 31, 2019. If the grid connection takes place in 2020, the approved tariffs will be reduced by RMB 0.01 ($0.001)/kWh each quarter up to the second quarter of 2020. If solar PV projects are connected after June 30, 2020, the approved feed-in-tariff will be revoked, and the projects would stand canceled. In May 2019, the Price Bureau of China’s National Development and Reform Commission had announced the level of solar FiT payments for large-scale projects. For the ease of implementation, the country had been broadly categorized into three regions: Region 1, 2, and 3. In the 2019 bidding process, 23 provinces had participated. The most favored destination is Guizhou Province with more than 3.6 GW, followed by Shaanxi Province with more than 3 GW, and 13 other provinces, each with more than 1 GW to be installed. Gansu Province and Xinjiang Autonomous Region were not allowed to participate due to the prevailing grid curtailment issues. Heilongjiang, Jilin, Yunnan, and Hainan did not join this bidding process, mainly due to limited grid capacities. According to Frank Haugwitz of Asia Europe Clean Energy (Solar) Advisory (AECEA), larger projects were allowed to submit competitive tariffs with the lowest at RMB 0.2795. “Given the 2019 results, it appears that the single most important evaluation criterion was the feed-in-tariff submitted by the developers. It is possible that during the 2020 bidding, other factors might be taken into account when evaluating submitted bids in an attempt to increase the share of distributed projects,” he added. According to Frank’s communique, “In light of the 22.78 GW of feed-in-tariff supported projects approved, AECEA has increased its 2019 full-year guidance from 32-34 GW to 38-42 GW, thus still representing a decline of approximately 5-14% year-over-year. AECEA’s forecast takes into account the feed-in-tariff, grid-parity, residential, poverty alleviation, top-runner, and demonstration projects along ultra-high voltage long-distance transmission lines. According to China’s National Renewable Energy Centre (CNREC) data, between January and May 2019, a total of 7.61 GW of solar PV projects were installed, representing a decrease of 44% year-over-year (YoY). Ground-mounted utility-scale projects amounted to 3.83 GW (+9% YoY), and distributed projects totaled 3.27 GW (-61% YoY). In May, only 1.43 GW of solar capacity was installed, a decline of 42% YoY. The CNREC estimates that in June, possibly 5 GW could be installed, leading to approximately 12.6 GW during the first half of 2019. Compared with the 24.30 GW capacity installed during the same period in 2018, this will represent a decrease of approximately 52% YoY. At the end of May 2019, China was home to 182.07 GW of total installed solar power generation capacity comprising 127.68 GW (70.2%) of ground-mounted utility-scale projects and 54.39 GW (29.8%) of distributed generation. Mercom recently reported that China installed 5.2 GW of solar PV capacity in the first quarter of 2019. When compared to Q1 2018, this was nearly a 40% decline in the installation numbers in which China had installed 9.65 GW of solar PV capacity.

China Approves Nearly 23 GW of Solar Projects Based on Feed-in Tariff Mechanism

China’s National Energy Administration (NEA) has approved 22.78 GW of the Feed-in Tariff (FiT) based solar projects. These solar PV projects are expected to be grid-connected by December 2019. They ...
/ / Markets & Policy, Solar
Chhattisgarh Issues Draft Copy of Regulations for Distributed Solar

Chhattisgarh Issues Draft Copy of Regulations for Distributed Solar

To facilitate the growth of distributed renewable energy generation systems in the state, the Chhattisgarh State Electricity Regulatory Commission (CSERC) has issued draft regulations for grid-interactive distributed renewable sources. The ...
/ / Markets & Policy, Solar
Renesola Announces Gross Profits of $8.6 Million in Q3 2018

Renesola Announces Gross Profits of $8.6 Million in Q3 2018

ReneSola Ltd, a fully integrated solar project developer and operator, has announced its unaudited financial results for the third quarter (Q3), ending September 2018. The gross profit was $8.6 million, compared ...
/ / Markets & Policy, Solar
Mongolia Gets $60.6 Million for Solar-Wind Hybrid Project with Battery Energy Storage

Mongolia Gets $60.6 Million for Solar-Wind Hybrid Project with Battery Energy Storage

The Asian Development Bank (ADB) has signed a loan agreement with the Government of Mongolia under which it will be providing $60.6 million for distributed renewable energy projects in the ...
/ / Other, Renewable Energy
Jharkhand Announces Additional 20 Percent Subsidy for Schools Opting for Rooftop Solar

Residential Segment Made Up 60% of the 1,000 Solar Rooftop Installations by BSES Delhi

BSES, Delhi’s major distribution company (DISCOM), announced that it has installed more than 1,000 solar rooftop connections with a sanctioned solar load of over 40 MW. According to BSES, the ...
/ / Rooftop, Solar
Solar Developer Renesola’s Gross Profit Dips to $8.2 Million in Q2 2018

Solar Developer Renesola’s Gross Profit Dips to $8.2 Million in Q2 2018

ReneSola Ltd, a fully integrated solar project developer and operator, has announced its unaudited financial results for the second quarter which ended June 30, 2018. The gross profit was $8.2 million, ...
/ / Markets & Policy, Solar
Brookfield Negotiates with ReneSola for its Distributed Solar Assets in China

Brookfield Negotiates with ReneSola for its Distributed Solar Assets in China

ReneSola Ltd, a fully integrated solar project developer and operator, has signed an exclusivity agreement with an affiliate of Brookfield Asset Management. Under the agreement, ReneSola has agreed to negotiate ...
/ / Markets & Policy, Solar
Fourth Partner Energy Raises $70 Million from TPG Growth’s Rise Fund

Fourth Partner Energy Raises $70 Million from TPG Growth’s Rise Fund

Fourth Partner Energy, a distributed energy management company, raised a $70 million investment from The Rise Fund, a global impact investment fund managed by TPG Growth. Investec acted as the ...
/ / Finance and M&A, Solar
With Over 3 GW Installed, Indian Solar Installations Surpass the US in Q1 2018

With Over 3 GW Installed, Indian Solar Installations Surpass the US in Q1 2018

The Indian solar market had its best quarter in which it surpassed the United States during the first quarter (Q1) of calendar year (CY) 2018. According to the recently released ...
/ / Markets & Policy, Solar
Mercom Capital Group Projects Strong Finish to 2014 with Global Solar Installations Forecast at Approximately 48 GW

Mercom Capital Group Projects Strong Finish to 2014 with Global Solar Installations Forecast at Approximately 48 GW

The first half of 2014 was not spectacular for solar installations globally, but with recent policy adjustments being implemented, especially in China, another strong year is forecasted  with installations of ...
/ / Markets & Policy, Solar