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					</table><p>Türkiye&#8217;s <a href="https://www.trade.gov.tr/" target="_blank" rel="noopener">Ministry of Commerce</a> has recently issued an order regulating solar panel imports from Vietnam, Malaysia, Thailand, Croatia, and Jordan.</p>
<p>By regulating solar cell and module imports, Türkiye aims to create a level playing field for domestic and international renewable energy stakeholders.</p>
<p>The order is an extension of the measures outlined in last year&#8217;s Communiqué on the Prevention of Unfair Competition in Imports.</p>
<p>&#8220;The application of this measure is a direct response to attempts to circumvent existing surveillance on imports, particularly with re-exports from these countries following surveillance on Chinese-origin panels,&#8221; the government said.</p>
<p>The primary objective of the order is to regulate the import of solar photovoltaic cells, which attract customs tariffs. A guarantee of $25 per square meter has been specified for such imports.</p>
<p>It aims to establish procedures and principles governing the application of guarantees when an investigation is initiated against unfair competition in imports.</p>
<p>The guarantee amount is meant as a safeguard against unfair trade practices. The guarantees will be encashed if the measures are enforced following an investigation. Conversely, the guarantees will be returned to the importers if the investigation concludes without any measures.</p>
<p>Earlier this year, India&#8217;s Directorate General of Trade Remedies initiated an anti-dumping investigation on imported textured, tempered, coated, and uncoated solar glass originating in or exporting from China and Vietnam.</p>
<p>Indian <a href="https://cms.mercomindia.com/ventyr-norway-offshore-wind-auction/" target="_blank" rel="noopener">exports</a> of solar components to Turkiye have so far been negligible.</p>
<p>According to the International Energy Agency&#8217;s (IEA) World Energy Outlook published in November 2023, Türkiye <a href="https://www.mercomindia.com/global-solar-module-manufacturing-by-2030-iea" target="_blank" rel="noopener">accounted</a> for around 1% of the total global solar manufacturing capacity.</p>
<p>Hybrid power projects are <a href="https://www.mercomindia.com/turkiyes-hybrid-projects-help-solar-surpass-wind-capacity" target="_blank" rel="noopener">becoming</a> critical to Türkiye&#8217;s solar energy goals because of their capability to generate electricity from both primary and secondary sources connected to the grid at the same location, according to energy think tank Ember.</p>


Türkiye Imposes Security Deposit on Solar Panel Imports


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					</table><p>China-based photovoltaic module manufacturer <a href="https://www.das-solar.com/en" target="_blank" rel="noopener">DAS Solar</a> plans to raise up to RMB 2.5 billion (~$350 million) by issuing up to 58,789,573 shares through an initial public offering (IPO) at RMB 1 (~$0.140) per share.</p>
<p>The proportion of total equity after the offering is not expected to be less than 10%.</p>
<p>According to the released prospectus accepted by the <a href="https://www.szse.cn/English/" target="_blank" rel="noopener">Shenzhen Stock Exchange</a>, DAS Solar is set to invest approximately RMB 5.813 billion ($811.18 million) in proposed projects. The cornerstone of these initiatives involves the construction of a 14 GW N-type TOPCon high-efficiency monocrystalline solar cell manufacturing facility.</p>
<p>The company also plans to develop a 20 GW high-efficiency monocrystalline solar module manufacturing facility.</p>
<p>A significant portion of the investment, approximately RMB 2.5 billion ($349.65 million), is earmarked for capital injection into these projects.</p>
<p>DAS Solar reported a revenue of RMB736 million ($102.92 million) in 2020, which increased to RMB1.894 billion ($264.58 million) in 2021.</p>
<p>The revenue reached RMB8.606 billion ($1.201 billion). The first half of 2023 saw a continuation of this upward trend, with revenues reaching RMB9.454 billion ($1.319 billion).</p>
<p>In December of 2023, DAS Solar revealed that the open-circuit voltage for its high-efficiency n-type TOPCon cells reached 735 millivolts.</p>
<p>In 2022, JinkoSolar Holding Co’s principal operating subsidiary, Jinko Solar (Jiangxi Jinko), <a href="https://www.mercomindia.com/daily-news-wrap-up-jinko-solar-ipo-shanghai-stock-exchange" target="_blank" rel="noopener">completed</a> its IPO process and started trading on the Shanghai Stock Exchange’s Sci-Tech innovation board. Jiangxi Jinko has issued 2 billion shares, representing approximately 20% of the total 10 billion shares outstanding after the IPO. After the IPO, JinkoSolar owns 58.62% of Jiangxi Jinko.</p>
<p>Recently, the China Securities Regulatory Commission <a href="https://www.mercomindia.com/china-securities-commission-approves-canadian-solars-ipo" target="_blank" rel="noopener">approved</a> the registration of CSI Solar, the engineering, procurement, and construction arm of solar module maker Canadian Solar, to issue an IPO. The company’s CEO Shawn Qu, said CSI expects the completion of the IPO by the second quarter of the current financial year.</p>


China-Based DAS Solar to Raise ~$350 Million via Initial Public Offering


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					</table><p>The supply of power from renewable energy sources must double until 2029 to limit the global temperature rise to 1.5 degrees Celsius under the Paris Climate Accord, the 2022 State of Climate Services report by the World Meteorological Organization (<a href="https://public.wmo.int/en" target="_blank" rel="noopener">WMO</a>) has said.</p>
<p>Since electrification is a strategic lever to monitor the net zero goals, the rising global power requirements will be met with renewable energy in the years ahead, with solar the single largest supply source by 2050.</p>
<p>The report said renewable energy pledges represent less than half of what is needed currently. Going by projections under Sustainable Development Goals 7, at the current pace, the world is set to fall short of achieving the goal of universal access to affordable, reliable, sustainable, and modern energy by 2030 by a wide margin.</p>
<p>The WMO highlights that reaching the Paris Agreement’s long-term global goal on temperature would require 7.1 TW of clean energy capacity to be installed by the end of the current decade. The supply from low-emission sources will also need to double by 2030 for the world to reach net zero by 2050.</p>
<p><strong>Investments must triple</strong></p>
<p>WMO projects that Investments in renewable energy need to triple by 2050 to put the world on a net-zero trajectory. The report projects that by 2050, investments in renewable energy have to triple for the world to get closer to the net zero trajectory.</p>
<p>The global public financial flows supporting clean energy to developing nations decreased for the second time in a row in 2019, dropping to $10.9 billion.</p>
<p>The report highlights that the financial support level was 23% lower than $14.4 billion in 2018 and deteriorated by less than half the peak of $24.7 billion in 2017.</p>
<p>United Nations Secretary-General Antonio Guterres observed, “Climate action could deliver $26 trillion in economic benefits by 2030. And yet, investment in renewable energy is much too low, especially in developing countries and too little attention is paid to the importance of climate services for energy to support both climate adaptation and decisions on how to reduce greenhouse gases.”</p>
<p><strong>Untapped PV potential in Africa </strong></p>
<p>Despite Africa being home to 60% of the world’s best solar resources, the continent has only 1% of installed photovoltaic (PV) capacity.</p>
<p style="text-align: center;"><a href="https://mercomindia.com/wp-content/uploads/2022/10/WMO-1.png"><img loading="lazy" decoding="async" class="alignnone wp-image-43078 size-full" src="https://mercomindia.com/wp-content/uploads/2022/10/WMO-1.png" alt="WMO-1" width="800" height="554" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/WMO-1.png 800w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/WMO-1-300x208.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/WMO-1-768x532.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/WMO-1-650x450.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/WMO-1-624x432.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/WMO-1-600x416.png 600w" sizes="(max-width: 800px) 100vw, 800px" /></a></p>
<p>However, in the past 20 years, only 2% of clean energy investments were made in Africa. Bringing access to modern energy for all Africans calls for an investment of $25 billion annually.</p>
<p>According to a report <a href="https://mercomindia.com/transition-renewable-energy-answer-report/" target="_blank" rel="noopener">published</a> in January by the International Renewable Energy Agency (<a href="https://www.irena.org/" target="_blank" rel="noopener">IRENA</a>), a calibrated policy framework on clean energy can help resolve Africa’s economic, social, health, and environmental challenges while aiding the transition to renewable energy.</p>
<p><strong>Weather forecasting</strong></p>
<p>The WMO report stresses the economic value of short-term, sub-seasonal, and seasonal forecasts for fuel purchasing decisions, demand and generation forecasting, and system planning.</p>
<p>Temperature forecasts predict peak loads more accurately and optimally schedule power generation plants to meet demands at a lower cost.</p>
<p>Hydropower operations, for example, benefit from daily, weekly, and seasonal precipitation and streamflow forecasts, which can help to optimize operations.</p>
<p>Growing global water level stresses could be alleviated with a swift and balanced transition to renewable energy. The report said that the amount of water used to produce power by solar and wind is way lower than for more traditional power plants— fossil-fuel or nuclear-based.</p>
<p style="text-align: center;"><a href="https://mercomindia.com/wp-content/uploads/2022/10/WMO-2.jpg"><img loading="lazy" decoding="async" class="alignnone wp-image-43092 size-full" src="https://mercomindia.com/wp-content/uploads/2022/10/WMO-2.jpg" alt="WMO-2" width="1380" height="793" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/WMO-2.jpg 1380w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/WMO-2-300x172.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/WMO-2-768x441.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/WMO-2-650x374.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/WMO-2-624x359.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/WMO-2-600x345.jpg 600w" sizes="(max-width: 1380px) 100vw, 1380px" /></a></p>
<p>For instance, at least 700,000 people in Buenos Aires and Argentina were deprived of electricity in January 2022 due to massive power outages caused by a heatwave. Similarly, frozen rain-coated transmission lines in Russia left several households without power in 2020.</p>
<p>Such climate-centric aftermaths can be addressed with increased investments in renewable energy in developing nations.</p>
<p>WMO Secretary-General Prof Petteri Taalas said, “The energy sector is the source of around three-quarters of global greenhouse gas emissions. Switching to clean forms of energy generation, such as solar, wind, and hydropower – and improving energy efficiency – is vital if we are to thrive in the 21<sup>st</sup> century. Net zero by 2050 is the aim. But we will only get there if we double the supply of low-emissions electricity within the next eight years.”</p>
<p>Recently, 16 nations <a href="https://mercomindia.com/16-countries-pledge-94-billion-renewable-demonstration-projects/" target="_blank" rel="noopener">committed</a> $94 billion for clean energy demonstration projects globally at the first-ever Global Clean Energy Action Forum held in Pittsburgh.</p>


Clean Energy Supply Must Double Until 2029 to Limit Temperature Rise to 1.5 Degrees: WMO

<p>The Asian Development Bank (<a href="https://www.adb.org/" target="_blank" rel="noopener noreferrer">ADB</a>) approved a $6 million grant for the Government of Tuvalu (located in the south Pacific) to help it shift away from fossil fuels and to bolster their existing energy sector while making power more affordable.</p>
<p>The Increasing Access to Renewable Energy Project aims to increase renewable energy output to contribute 32% of all power, up from 15% previously in the Funafuti region and from 70% to 90% in the outer islands of Tuvalu.</p>
<p>This grant will aid the installation of rooftop solar and battery energy storage systems in Funafuti as well as climate-resilient, ground-mounted, solar PV systems in the outer islands of Nukufetau, Nukulaelae, and Nui.</p>
<p>This project also aims to help the Tuvalu Electricity Corporation (TEC) to train its staff in inclusive renewable energy project development and implementation. It will enable 35% of electricity delivered during daylight hours to come from renewable energy sources upon completion.</p>
<p>This Increasing Access to Renewable Energy Project comes under the ADB’s Pacific Renewable Energy Investment Facility – a program to address the growing demand for energy finance in the region.</p>
<p>The facility also supports sector reform in ten other Pacific island countries consisting of the Cook Islands, the Federated States of Micronesia, Kiribati, Nauru, Palau, the Marshall Islands, Samoa, Solomon Islands, Tonga, and Vanuatu.</p>
<p>The bank has supported Tuvalu since 1993, with $7.9 million sanctioned in loans, $42.3 million in grants, and $8.6 million in technical assistance, according to the ADB.</p>
<p>“The project is the first ADB-supported energy sector project in Tuvalu. It will increase the utilization of renewable energy in the country and reduce greenhouse gas emissions in the country’s power subsector,” said the Director of ADB’s Pacific Energy Division, Olly Norojono.</p>
<p>Previously, Mercom <a href="https://mercomindia.com/adb-grants-floating-solar-project-vietnam/" target="_blank" rel="noopener noreferrer">reported</a> that the Asian Development Bank signed a $37 million loan agreement that would finance the installation of a 47.5 MW floating solar project in Vietnam.</p>
<p>Earlier this year, the bank <a href="https://mercomindia.com/adb-support-100-mw-solar-park-cambodia/" target="_blank" rel="noopener noreferrer">approved</a> a $7.64 million loan to support the construction of a 100 MW solar park in Cambodia. This loan is in support of the ‘National Solar Park Project’, which will help the country develop renewable energy resources, diversify its energy mix, and improve the competitiveness of its economy.</p>


ADB Approves $6 Million Grant to Tuvalu to Increase its Renewable Energy Generation

<p>The Asian Development Bank (ADB) will provide $1.1 billion in loan to Indonesia to diversify and strengthen its energy sector.</p>
<p>According to an ADB release, “The Board of Directors today approved two loans totaling up to $1.1 billion to strengthen and diversify Indonesia’s energy sector &#8211; considered key to promoting inclusive growth and sustainable development in the country.”</p>
<p>The first loan is a $500 million policy-based loan (including $100 million from the ASEAN Infrastructure Fund) for the Sustainable and Inclusive Energy Program, Subprogram 2.</p>
<p>The second loan is a $600 million results-based loan to the State Electricity Corporation (PLN), guaranteed by the Republic of Indonesia, which will boost access to sustainable and modern energy services in eastern Indonesia. This is part of a series of investment programs to enhance people’s access to sustainable and modern energy services, with a focus on developing the eastern part of the country as a new growth hub.</p>
<p>Indonesia’s energy sector faces far-reaching and interrelated problems throughout the value chain, from the supply of primary energy to the distribution of electricity, leaving some 23 million people lacking access to power. Energy subsidies over many years have led to underinvestment due to which the electricity industry is dependent on coal, which accounted for more than half of energy generation in 2016.</p>
<p>With help from this policy-based support, the Indonesian government will build on various reforms to improve fiscal sustainability, such as further rationalizing tariffs, introduce measures to improve private investment in electricity and gas, and support the scale-up of renewable energy and energy efficiency measures.</p>
<p>“Increased access to affordable and sustainable sources of energy is a pre-requisite for the government to meet its economic growth aspirations,” said Winfried Wicklein, ADB Country Director in Indonesia.</p>
<p>“The two loans approved today will, respectively, improve the enabling policy environment to increase public and private investment in Indonesia’s energy sector, and support and develop the power distribution network in Eastern Indonesia,” added Mr. Wicklein.</p>


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