RECPDCL Invites Bids for 223 MW ISTS-Connected Solar Projects

Clean Energy Tech Firm Ecozen Raises $30 Million for Global Expansion

SJVN Green Energy Invites Bids to Source Land for 200 MW Solar Projects in Assam

Avaada Inks ₹45 Billion Refinancing Deal for Four Solar Projects in Rajasthan

Daily News Wrap-Up: Application Process for ALMM Inclusion and Renewal

Australia Adds 5.9 GW of Renewable Capacity to the Grid in 2023

POWERGRID Wins Contracts to Evacuate 18 GW of Renewable Energy

MNRE Seeks Feedback on Guidelines for PM-Surya Ghar Rooftop Solar Program

Apple Partners with CleanMax to Power India Operations with Renewable Energy

Explainer: Application Process for ALMM Inclusion and Renewal


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					</table><p><a href="https://www.mercomindia.com/mnre-pilot-implement-hydrogen-steel" target="_blank" rel="noopener"><strong>The government has launched pilot projects aimed at decarbonizing the steel sector using green hydrogen under the National Green Hydrogen Mission</strong></a>, the Ministry of New and Renewable Energy (MNRE) has said. The steel industry accounts for around 7% of greenhouse gas emissions annually and is one of the most polluting industries worldwide. The program aims to support the deployment of green hydrogen and its derivatives as fuel in the iron and steel-making process. It has an outlay of ₹4.55 billion (~$54.8 million) until the financial year 2029-30.</p>
<p><a href="https://www.mercomindia.com/residential-rooftop-solar-subsidy-increased-60" target="_blank" rel="noopener"><strong>Free electricity will be provided for households with a consumption of less than 300 units a month by installing rooftop solar systems on their homes</strong></a>. Central public sector undertakings (CPSUs) will be availing loans for setting up the systems, which will now carry a subsidy of 60% in place of the earlier 40%</p>
<p><a href="https://www.mercomindia.com/mp-solar-kusum-lowest-tariff-%e2%82%b92-42-kwh" target="_blank" rel="noopener"><strong>Madhya Pradesh Urja Vikas Nigam has discovered the lowest tariff of ₹2.42 (~$0.029) /kWh in the auction for 300 MW grid-connected solar power</strong></a> projects under Component C of the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan program at various locations in the state.</p>
<p><a href="https://www.mercomindia.com/seci-invites-offshore-wind-projects-in-tamil-nadu" target="_blank" rel="noopener"><strong>The Solar Energy Corporation of India, on behalf of the National Institute of Wind Energy, has invited bids for the allocation of sea-bed lease rights</strong></a> for 4 GW offshore wind power projects on a build-own-operate basis. The last date for submitting bids is May 6, 2024. Bids will be opened the next day.</p>
<p><a href="https://www.mercomindia.com/assam-tender-25-mw-solar-thermal-power-plant" target="_blank" rel="noopener"><strong>The Assam Power Generation Corporation (</strong><strong>APGCL</strong><strong>) has floated a tender for a 25 MW ground-mounted solar power project on a turnkey basis at Namrup</strong></a> Thermal Power Station in Dibrugarh district. APGCL, along with Oil India, will form a joint venture and develop the solar project on about 107 acres of land at the Namrup power station.</p>
<p><a href="https://www.mercomindia.com/mnre-designates-cpsu-rooftop-solar-adoption-states" target="_blank" rel="noopener"><strong>MNRE has allotted CPSUs state-wise responsibility for accelerating the implementation of rooftop solar programs across the country</strong></a>. The CPSUs designated under the program include POWERGRID, NTPC, THDC, SJVN, Energy Efficiency Services, Damodar Valley Corporation, North Eastern Electric Power Corporation, and NHPC.</p>
<p><a href="https://www.mercomindia.com/ev-ride-hailing-platform-snap-e-secures-2-5-million-funding" target="_blank" rel="noopener"><strong>Electric Vehicle ride-hailing platform </strong><strong>Snap-E</strong><strong> has raised $2.5 million in a pre-series A funding round led by </strong><strong>Inflection Point Ventures</strong><strong>. The company is expected</strong></a> to allocate these funds for talent acquisition and technology upgrades and introduce tech-enabled capabilities. With a 100% electric fleet that is committed to offering sustainable, efficient, and affordable mobility solutions, the company will also leverage the funds to expand to other geographical locations.</p>
<p><a href="https://www.mercomindia.com/nextracker-q3-revenue-up-higher-deliveries" target="_blank" rel="noopener"><strong>Solar tracker firm </strong><strong>Nextracker</strong><strong> reported a 38% year-over-year jump in its revenue for the third quarter (Q3) of the financial year (FY) 2023-24</strong></a>, helped by higher deliveries in the U.S. and supply chain optimization. The company’s net income, however, fell to $41.3 million in Q3 FY24 from $42.5 million last year when Nextracker was a subsidiary of diversified manufacturing company Flex.</p>
<p><a href="https://www.mercomindia.com/mes-floats-solar-projects-jaipur-military-station" target="_blank" rel="noopener"><strong>Military Engineer Services has invited bids for 1.33 MW solar power projects at various locations at Jaipur Military Station. The last date for submission of bids</strong></a> is March 7, 2024. Bids will be opened on March 9. The planned schedule for the work within the tender scope is formulated using the Critical Path Method.</p>
<p><a href="https://www.mercomindia.com/novel-liquid-crystals-efficiency-perovskite-solar" target="_blank" rel="noopener"><strong>Researchers at </strong><strong>Northwestern University</strong><strong> have found that large-scale perovskite films, commonly used in solar technology, can be protected by liquid crystals</strong></a> that can respond to temperature change to avoid accumulating precipitation. The new protection method achieved a stabilized efficiency of 21% for solar modules with enhanced damp heat stability, that is, 85% relative humidity at 85 degrees Celsius and a size of 31 sq cm.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/mercom-staff/" class="vcard author" rel="author"><span class="fn">Mercom Staff</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

Daily News Wrap-Up: MNRE to Implement Green Hydrogen in Steel Industry


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					</table><p>Solar tracker firm <a href="https://nextracker.com/" target="_blank" rel="noopener">Nextracker</a> reported a 38% year-over-year (YoY) jump in its revenue for the third quarter (Q3) of the financial year (FY) 2023-24, helped by higher deliveries in the U.S. and supply chain optimization.</p>
<p>The company’s net income, however, fell to $41.3 million in Q3 FY24 from $42.5 million last year when Nextracker was a subsidiary of diversified manufacturing company <a href="https://flex.com/" target="_blank" rel="noopener">Flex</a>. In February 2023, Nextracker <a href="https://www.mercomindia.com/solar-tracker-nextracker-raises-638-million-in-ipo" target="_blank" rel="noopener">raised</a> $638 million in an initial public offering by selling 26.6 million shares at $24 per share.</p>
<p>Its revenue rose to $710 million from $513 million last year, while its order backlog now stands at over $3 billion. Given a healthy pace of increase in bookings, the company also raised the midpoint of its previous annual revenue and profit guidance by about $100 million and $73 million, respectively, making it the third consecutive quarter in which it has raised revenue and profit guidance.</p>
<p>“Nextracker achieved a record third quarter, outperforming across revenue, profit, and backlog, which reflects strong execution and spotlights our capability to meet customer requirements,” CEO Dan Shugar said in a statement.</p>
<p>During the quarter, the company also reached a 10 GW milestone in the Middle East, India, and Africa.</p>
<p>The CEO, during a post-earnings call with investors, highlighted that solar module availability in the U.S. has improved significantly over recent quarters and that he sees solar power contributing increasingly to meet the additional demand from data centers and electrification of transportation.</p>
<p>The company’s president, Howard Wenger, however, warned that some shipments are being rerouted due to the Red Sea and Suez Canal conflict, which has an impact on deliveries and costs.</p>
<p><strong>9M FY24</strong></p>
<p>Nextracker posted a profit of $101 million for the nine months (9M) of FY24, up 7.7% from $93.8 million in the same period last year.</p>
<p>The company’s revenue in the same period rose 27% to $1.76 billion from $1.38 billion last year.</p>
<p>Its net cash on hand increased by $130 million to $368 million in the first nine months of FY24, compared to an increase of $71 million to $100 million in the same period last year.</p>
<p>Last year, SB Energy Global, a U.S.-based integrated renewable energy platform, secured $2.4 billion to support the development of renewable energy projects focusing on the domestic content utilization provision under the Inflation Reduction Act. Nextracker was the <a href="https://www.mercomindia.com/sb-energy-2-4-billion-domestic-renewable" target="_blank" rel="noopener">supplier</a> for trackers from its recently expanded component providers in Pennsylvania, Nevada, and Tennessee.</p>
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Nextracker’s Q3 Revenue Up 38% YoY on Higher Deliveries in US


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					</table><p>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-cirba-solutions-raises/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Cirba Solutions, a provider of end-to-end battery recycling management solutions, </strong><a href="https://mercomcapital.com/cirba-solutions-raises-50-million-for-battery-recycling/" target="_blank" rel="noopener"><strong>received</strong></a><strong> a $50 million minority investment from Tokyo-based Marubeni Corporation</strong>. Cirba says this investment supports its ongoing efforts to rapidly expand its operational footprint, addressing the market’s needs to create a sustainable closed-loop battery materials supply chain.</p>
<p><strong>Integrated solar tracker and software solutions firm NEXtracker, a subsidiary of diversified manufacturing company Flex, has </strong><a href="https://mercomindia.com/solar-tracker-nextracker-raises-638-million-in-ipo/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $638 million in an initial public offering (IPO</strong>) by selling 26.6 million shares at $24 per share. The shares started trading on the National Global Select Market on February 9, 2023. NEXtracker has also granted the underwriters a 30-day window to buy up to an additional 3.99 million shares at the IPO prices.</p>
<p><strong>Ionblox, a developer of high-energy density lithium-ion batteries, </strong><a href="https://mercomcapital.com/high-density-lithium-ion-battery-developer-ionblox-raises-funding/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the second close of its Series B funding round, totaling $32 million.</strong> Lilium and Applied Ventures led the additional funding round, with participation from Temasek and Catalus Capital. The additional funds will be used to advance the company’s technology, develop high-power batteries for electric aviation, and prototype fast-charging batteries for electric vehicles.</p>
<p><strong>Turno, a commercial electric vehicle (EV) distribution and financing platform, has </strong><a href="https://mercomindia.com/ev-firm-turno-raises-13-8-million-in-a-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $13.8 million in series A funding</strong> which would be used to build proprietary battery technology and scale across the country. The funding round was co-led by global venture capital firms B Capital and Quona Capital. The company plans to use the funding for a proprietary battery tech platform to address issues around end-of-life battery value amid concerns around EV batteries and e-waste globally.</p>
<p><strong>VFlowTech, a manufacturer of vanadium-based redox flow batteries, has </strong><a href="https://mercomcapital.com/flow-battery-manufacturer-vflowtech-raises-10-million/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $10 million in a Series A funding round</strong>. Japan-based venture capital firm Real Tech Holdings led the investment round. VFlowTech plans to use the new funds to set up a 200 MWh production line capacity, scale up the manufacturing of its 250 kWh modular vanadium-based long-duration energy storage solutions and expand into new markets such as Türkiye, the U.S., Japan, and India.</p>
<p><strong>Quino Energy, a startup focusing on organic flow battery technology, <a href="https://mercomcapital.com/flow-battery-startup-quino-energy-secures-1-25-million/" target="_blank" rel="noopener">raised </a></strong><strong>an additional $1.25 million in funding</strong> to supplement its Series Seed financing round. The round brings the total raised in the financing round to $4.55 million. The funding was provided by Energy Revolution Ventures and Doral Energy Tech Ventures, while TechEnergy Ventures increased the size of their earlier investment.</p>
<p><strong>Solaria, a solar technology, services, and installation company, has </strong><a href="https://www.businesswire.com/news/home/20230213005216/en/Complete-Solaria-Announces-Strategic-Investment-from-Kleiner-Perkins-Chairman-John-Doerr" target="_blank" rel="noopener"><strong>received</strong></a><strong> a $10 million strategic investment from Foris Ventures, an entity affiliated with John Doerr, Chairman of Kleiner Perkins.</strong> The investment is part of a $30 million bridge round in support of Complete Solaria’s previously announced business combination with Freedom Acquisition I Corp. This $10 million strategic investment is in addition to progress on the bridge funding, which included a $14.2 million investment from T.J. Rodgers, $3.5 million from Freedom’s sponsors, and $2 million from other investors.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors.</p>
<p>Read last week&#8217;s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-ev-battery-maker-one-raises-300-million-in-series-b-funding/" target="_blank" rel="noopener">roundup</a>.</p>
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Funding and M&A Roundup: Cirba Solutions Raises $50 Million for Battery Recycling


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					</table><p>Integrated solar tracker and software solutions firm <a href="https://www.nextracker.com/" target="_blank" rel="noopener">NEXtracker</a>, a subsidiary of diversified manufacturing company <a href="https://flex.com/" target="_blank" rel="noopener">Flex</a>, has raised $638 million in an initial public offering (IPO) by selling 26.6 million shares at $24 per share.</p>
<p>The shares started trading on the National Global Select Market on February 9, 2023. The offering is expected to close on February 13, 2023.</p>
<p>NEXtracker has also granted the underwriters a 30-day window to buy up to an additional 3.99 million shares at the IPO prices.</p>
<p>Most utility-scale projects installed in mature markets such as the United States, Latin America, and Australia use solar trackers. Their adoption is growing in developing solar markets such as the Middle East and Africa.</p>
<p>NEXtracker shipped approximately 70 GW of solar tracker systems as of September 30, 2022, to projects on six continents for use in utility-scale and ground-mounted distributed generation solar applications worth over $67 billion.</p>
<p>In the registration statement filed with the United States Securities and Exchange Commission (<u><a href="https://www.sec.gov/" target="_blank" rel="noopener">SEC</a></u>), NEXtracker said, “Our customers include engineering, procurement, and construction firms, as well as solar project developers and owners. We are a qualified, preferred provider to some of the largest solar EPC firms and solar project developers and owners in the world.”</p>
<p>“We have firm orders representing executed contracts, purchase orders, and volume commitment agreements for projects that total approximately $2 billion in aggregate as of September 30, 2022. These firm orders do not include our pipeline for projects that are currently in various stages of negotiations and contract execution,” it added.</p>
<p>The solar tracker firm referred to a report by global research and consultancy firm Wood Mackenzie, which estimated the global solar tracking market to be a $71 billion cumulative opportunity from 2020 to 2030, representing approximately 682 GW of solar capacity installed during the period.</p>
<p>Four solar companies went public in 2022, raising a combined $1.6 billion compared to $5.4 billion raised by ten companies in 2021, according to Mercom’s <a href="https://mercomcapital.com/product/annual-q4-2022-solar-funding-ma-report/" target="_blank" rel="noopener">2022 Fourth Quarter and Annual Solar Funding and M&amp;A Report</a>.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gourav-mishra/" class="vcard author" rel="author"><span class="fn">Gourav Mishra</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="50" /></p>
<p><strong style="text-decoration: underline">Gourav,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav.</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="89" height="102" /><a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">Gourav</a> is a staff reporter with Mercom India with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India, and U.S., Republic, and Analytics India Magazine. Gourav has a Master&#8217;s in journalism from Jain University, Bengaluru. <a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav Mishra</a></div>
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Solar Tracker Firm NEXtracker Raises $638 Million in IPO


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					</table><p>Here are some noteworthy cleantech announcements of the day from around the world:</p>
<p><strong>Solar module manufacturer <a href="https://www.waaree.com/" target="_blank" rel="noopener">Waaree Energies</a> plans to ramp up its module production line to 12 GW by March 2023. This will be the largest module manufacturing capacity in the world outside of China. </strong>Waaree currently has a 9 GW module manufacturing capacity. Waaree&#8217;s 600 Wp and 650 Wp modules are registered in the Ministry of New and Renewable Energy&#8217;s Approved List of Models and Manufacturers. Waaree Energies had earlier this year received approval from the National Company Law Tribunal to acquire solar cell manufacturer Indosolar.</p>
<p><strong>NTPC </strong><a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/890bd74e-0edd-443c-8f06-8ed65f4e5fcf.pdf" target="_blank" rel="noopener"><strong>commissioned</strong></a><strong> the first part capacity of 100 MW out of the 300 MW Nokhra solar power project in Rajasthan. </strong>NTPC&#8217;s standalone installed and commercial capacity is now 58, 209 MW, while group installed and commercial capacity will become 70,824 MW.</p>
<p><strong>TML Smart City Mobility Solutions, a subsidiary of Tata Motors, </strong><a href="https://www.bseindia.com/xml-data/corpfiling/AttachHis/1ce422eb-2318-44b2-be3b-05b7c129e7fd.pdf" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a definitive agreement with Bengaluru Metropolitan Transport Corporation (BMTC) to supply</strong>, operate, and maintain 921 electric buses for 12 years. TML will supply BMTC with its 12-meter-long Tata Starbus Electric, an indigenously developed vehicle with superior design and best-in-class features for a sustainable and comfortable commute. Tata Motors has supplied more than 730 electric buses across multiple cities in India, cumulatively clocking more than 55 million kilometers, with an uptime of over 95%.</p>
<p><strong>Solar tracker and software solutions provider Nextracker </strong><a href="https://www.prnewswire.com/news-releases/amara-raja-power-systems-selects-nextracker-to-supply-solar-trackers-for-ntpcs-306-mwp-nokh-power-plant-301706810.html" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a master supply agreement with Amara Raja Power Systems to deliver solar trackers for NTPC&#8217;s 306 MW Nokh solar project </strong>in Rajasthan. Nextracker will supply its bifacial tracker to help Amara Raja achieve a lower levelized cost of energy over the lifetime of the project due to its optimized design. The Nokh project is expected to be operational by October 2023. NTPC has increased its renewable energy investments in recent years and aims to achieve over 60 GW of renewable energy capacity by 2032, accounting for 50% of its overall generation capacity.</p>
<p><strong>Filtration membranes system manufacturer Permionics </strong><a href="https://www.prnewswire.com/in/news-releases/india-based-company-permionics-to-service-solar-wafer-orders-of-over-10-gw-capacity-301705897.html" target="_blank" rel="noopener"><strong>bagged</strong></a><strong> an order to supply water management systems to help produce 10 GW of solar wafers.</strong> <strong> </strong>Roughly 1 million liters of purified water is required daily to produce just one gigawatt of wafer capacity. The company claims it has the technology and process integration necessary for total water and waste management in the solar wafer manufacturing process.</p>
<p><strong>North Seas Energy Cooperation (NSEC) and the United Kingdom </strong><a href="https://www.gov.ie/en/press-release/e8135-members-of-the-north-seas-energy-cooperation-and-the-uk-establish-new-cooperation-agreement-to-increase-offshore-renewables-deployment/#:~:text=The%20North%20Seas%20Energy%20Cooperation%20(NSEC)%20is%20a%20regional%20non,the%20Irish%20and%20Celtic%20Seas" target="_blank" rel="noopener"><strong>inked</strong></a><strong> a new memorandum of understanding on increased cooperation to develop offshore renewable energy. </strong>The collaboration aims to facilitate the planning and development of specific offshore renewable projects, including offshore grids. NSEC comprises Belgium, Denmark, France, Germany, Ireland, Luxembourg, the Netherlands, Norway, Sweden, and the European Commission. The countries agreed to a target of at least 260 GW of offshore wind energy by 2050 last year, representing more than 85% of the EU-wide ambition of reaching at least 300 GW by 2050.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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Daily News Wrap-Up: Waaree to Expand its Solar Module Production Line to 12 GW

<p>According to module shipment data for 2017, <a href="http://www.trinasolar.com/" target="_blank" rel="noopener">Trina Solar</a> was the single largest supplier of modules to India in 2017. The newly released report by Mercom India Research <em><u><a href="https://mercomindia.com/product/mercoms-india-solar-market-share-report/" target="_blank" rel="noopener">India Solar Market Leaderboard 2018</a></u></em> covers market share and shipment rankings across the Indian solar supply chain in 2017.</p>
<p><a href="https://mercomindia.com/wp-content/uploads/2018/07/Leading-Solar-Module-Suppliers-in-India-2017.png"><img decoding="async" loading="lazy" class="aligncenter size-full wp-image-10507" src="https://mercomindia.com/wp-content/uploads/2018/07/Leading-Solar-Module-Suppliers-in-India-2017.png" alt="Leading Solar Module Suppliers in India, 2017" width="333" height="252" srcset="https://cms.mercomindia.com/wp-content/uploads/2018/07/Leading-Solar-Module-Suppliers-in-India-2017.png 333w, https://cms.mercomindia.com/wp-content/uploads/2018/07/Leading-Solar-Module-Suppliers-in-India-2017-300x227.png 300w" sizes="(max-width: 333px) 100vw, 333px" /></a></p>
<p>The top 5 module suppliers made up over 45 percent of market share in 2017. <a href="https://www.canadiansolar.com/" target="_blank" rel="noopener">Canadian Solar</a> was the second largest module supplier to India followed by <a href="http://www.jasolar.com/html/en/" target="_blank" rel="noopener">JA solar</a> in 2017. The same three companies were also the top three suppliers to India in the same order in terms of cumulative installations.</p>
<p>Cumulatively, top 10 companies have supplied over 1 GW of solar modules to the Indian market.</p>
<p>A lot of the module supply dynamics could change based on how the <a href="https://mercomindia.com/domestic-manufacturers-safeguard-duty-imported-panels/" target="_blank" rel="noopener">safeguard duty case</a> plays out. There is also a good chance that many international companies could open manufacturing facilities in India especially if the SECI tender for <a href="https://mercomindia.com/seci-tenders-5gw-solar-manufacturing-capacity/" target="_blank" rel="noopener">5 GW</a> manufacturing capacity becomes a reality.</p>
<p><a href="https://www.nextracker.com/" target="_blank" rel="noopener">NEXTracker</a> was the top tracker supplier to the Indian solar sector in terms of cumulative shipments at the end of 2017, followed by <a href="http://www.arctechsolar.in/" target="_blank" rel="noopener">Arctec Solar</a>. As of 2017, there were over 30 tracker suppliers to the Indian solar market. NEXTracker has over 1 GW in tracker sales to India. Top 3 tracker suppliers account for almost 70 percent of the market share in India.</p>
<p>In India, most solar large-scale projects do not have trackers. Cost plays a big part in using trackers in India. With most major Indian solar states enacting <a href="https://mercomindia.com/telangana-deviation-regulations-solar-wind-generation/" target="_blank" rel="noopener">deviation charges</a> for over or under production, trackers are not on the priority list of many developers in India.</p>
<p>“As the demand in China decreases, international companies are looking more and more towards India as one of the most important markets to expand into. An India market entry/expansion strategy has become a must for international companies if they are not already supplying to the country,” said Raj Prabhu, CEO of Mercom Capital Group.</p>
<p><a href="https://mercomindia.com/wp-content/uploads/2018/07/Leading-Solar-Tracker-Companies-in-India-as-of-2017.png"><img decoding="async" loading="lazy" class="aligncenter size-full wp-image-10508" src="https://mercomindia.com/wp-content/uploads/2018/07/Leading-Solar-Tracker-Companies-in-India-as-of-2017.png" alt="Leading Solar Tracker Companies in India, as of 2017" width="332" height="250" srcset="https://cms.mercomindia.com/wp-content/uploads/2018/07/Leading-Solar-Tracker-Companies-in-India-as-of-2017.png 332w, https://cms.mercomindia.com/wp-content/uploads/2018/07/Leading-Solar-Tracker-Companies-in-India-as-of-2017-300x226.png 300w" sizes="(max-width: 332px) 100vw, 332px" /></a></p>
<p><em>To learn more about the report and get a full list of market leaders, click</em><em> <strong><a href="https://mercomindia.com/product/mercoms-india-solar-market-share-report/" target="_blank" rel="noopener">here</a></strong></em></p>
<p><em>For a complete Market Share Tracker, click</em><em> <strong><a href="https://mercomindia.com/product/mercoms-india-solar-market-share-tracker/" target="_blank" rel="noopener">here</a></strong></em></p>
<p><em>Download Executive Summary <strong><a href="https://mercomindia.com/india-solar-market-leaderboard-2018-executive-summary-form/" target="_blank" rel="noopener">here</a></strong></em></p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/sampath/" class="vcard author" rel="author"><span class="fn">Sampath Krishna</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.com/wp-content/uploads/2018/03/sampath-edited-1.png" alt="Sampath Krishna" />Sampath has been part of the Mercom India research and news team since the company’s inception. He currently oversees all data and research relating to news published on the MercomIndia.com platform. Sampath received his Bachelor’s of Commerce Degree from Kuvempu University and Post Graduate Diploma in Management, from Indira Gandhi National Open University. <a href="https://mercomindia.com/author/sampath/">More articles from Sampath Krishna.</a></p>
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Trina Was Top Solar Module Supplier in 2017, NEXTracker the Top Tracker Supplier to India

<p>The more than 15 GW of solar capacity installed in India will require quality operation and maintenance (O&amp;M) services, paving way for large global players to enter the market.</p>
<p><em>The following is from a conversation Mercom India had with Kristan Kirsh, senior director of marketing communications for NEXTracker, at the Renewable Energy India Expo 2017 in Greater Noida, India. NEXTracker is a leading solar tracking company in North America looking to expand aggressively into the Indian market.</em></p>
<p><strong>Why is India a good destination for solar system component manufacturers?</strong></p>
<p>We believe in the Indian solar story. India is the second-largest market for us after the United States. We have a massive investment plan for India and this is based on the growth that we have seen in India. In the past two years, we have captured 1 GW of the market.</p>
<p><strong>There are over 200 developers and engineering, procurement, and construction (EPC) companies in India, which ones are your preferred partners?</strong></p>
<p>In India, we are working in collaboration with the Adani Group, ReNew Power, Azure Power, Greenko, Sterling &amp; Wilson, Skypower, and Cleanmax Solar among other key EPC and developer partners involved in India’s massive solar growth.</p>
<p><strong>You mentioned a massive investment plan, how do you plan on expanding in the Indian market?</strong></p>
<p>We are already collaborating with the top players in the Indian solar market. Apart from that, we are investing in developing customized products for the Indian market so that we can bring down the cost without compromising quality. Another factor that is shaping our expansion plan is the growing need for O&amp;M in India. We’ve also instituted an installer training program to help shore up some of the skilled labor required for large-scale solar installations across the Indian geography. It’s called the <a href="https://www.nextracker.com/2017/01/nextracker-heeds-indias-need-to-expand-solar-workforce-training/" target="_blank" rel="noopener">PowerworX Academy</a> and we’ve trained over 200 solar installers so far in the country.</p>
<p>We find that this program empowers the solar workforce that will be needed to help India reach its target of 100 GW of solar installed by 2022. This local installer training program is developing a future workforce with the skills required to enhance the durability and quality of these long-term assets – which ultimately lowers O&amp;M if the installation and electrical works are done properly.</p>
<p><strong>Could you elaborate on how O&amp;M is shaping your expansion plan?</strong></p>
<p>We are focusing on O&amp;M planning in India. In India, there’s over 13 GW of solar installed, not by NEXTracker, but think about it &#8211; what’s going to happen now that the 13 GW is installed. The money has been laid out [invested], projects have come up, how is India going to service these massive projects? That’s where we come in, we design products with ease of O&amp;M.</p>
<p>We recently downsized a tracker that could move 120º to 100º. In India, 120º is not necessarily required, and we do not believe in compromising on quality to make products affordable. We innovated and came up with a quality product at an affordable price with our Indian EPC partners.</p>
<p><strong>As you said, NEXTracker is working in collaboration with players in the Indian market, how do you think the anti-dumping case is affecting them and the market?</strong></p>
<p>Everyone’s concerned; there’s been a general slowdown in the sector after over two years of continuous activity.</p>
<p><strong>What are your thoughts on the Make in India initiative?</strong></p>
<p>That’s a great initiative and we wholeheartedly support it. In fact, we have already set up manufacturing in India in collaboration with <a href="https://www.nextracker.com/2017/03/nextracker-to-expand-manufacturing-in-india/" target="_blank" rel="noopener">Apollo</a>, a steel supplier, among other supplier partners. Our trackers are 80 percent steel and it’s a smart route to go with local supply chain, wherever possible.</p>
<p><strong>What do you think the government can do to make it easier to conduct business in India?</strong></p>
<p>There are some states that have more solar potential than others, and efforts should focus on developing the major portion of solar projects in those states as they would be more profitable and financially feasible.</p>
<p>Best practices should be introduced and enforced. States should work in collaboration with the central government for smoother implementation of policies and programs.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/saumy/" class="vcard author" rel="author"><span class="fn">Saumy Prateek</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Saumy Prateek</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/saumy/" target="_blank" rel="noopener">More articles from Saumy Prateek</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="79" height="102" /><a href="https://mercomindia.com/author/saumy/" rel="noopener"><strong>Saumy Prateek, </strong> </a>is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism &amp; Mass Communication from the Manipal Institute of Communication at Manipal University.<a href="https://mercomindia.com/author/saumy/">More articles from Saumy Prateek.</a></div>
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