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<p>Mercom India forecasts cumulative installations in the calendar year 2017 to reach <a href="http://mercomcapital.com/a-record-year-for-india-forecasted-with-approximately-10-gw-of-solar-installations-in-2017" target="_blank" rel="noopener noreferrer">10 GW</a>.</p>
<p>The European Investment Bank (EIB) approved a <a href="https://mercomindia.com/european-investment-bank-provide-eur-200-million-213-million-loan-state-bank-india-large-scale-solar/" target="_blank" rel="noopener noreferrer">EUR 200 million (~Rs.13.8 billion)</a>, 20-year loan to State Bank of India (SBI) to help develop solar projects in India.</p>
<p>The World Bank approved <a href="https://mercomindia.com/world-bank-provide-100-million-develop-solar-parks-india/" target="_blank" rel="noopener noreferrer">$100 million (~Rs.6.5 billion)</a> in funds to develop solar parks in India.</p>
<p>In the financial year (FY) 2016-17, wind projects aggregating <a href="https://mercomindia.com/5400-mw-wind-power-installed-india-fy2016-17/">5,400 MW</a> were installed across India.</p>
<p>Oriano Solar, a solar focused EPC firm, raised <a href="https://mercomindia.com/oriano-solar-raises-rs-200-million-series-funding/" target="_blank" rel="noopener noreferrer">Series A funding of Rs.200 million ($3 million)</a> from Samridhi Fund managed by SIDBI Venture Capital Ltd.</p>
<p>Tender and auction activity in the solar sector in India has been <a href="https://mercomindia.com/mercom-exclusive-solar-tenders-auctions-slowed-india/" target="_blank" rel="noopener noreferrer">slowing down</a> over the last couple of quarters.</p>
<p>The Asian Development Bank (ADB) will provide a <a href="https://mercomindia.com/adb-provide-200-million-loan-finance-energy-efficient-lights-pumps-india/" target="_blank" rel="noopener noreferrer">$200 million (~Rs.13 billion)</a>, 20 year, loan to finance energy efficient lights and water pumps in India.</p>
<p>The entire <a href="https://mercomindia.com/india-add-1-gw-solar-end-april-kurnool-solar-park-andhra-pradesh/" target="_blank" rel="noopener noreferrer">Kurnool Ultra Mega Solar Park</a> of 1,000 MW capacity is expected to be connected to the grid by the end of April 2017.</p>
<p>Cumulative solar installations in India surpassed <a href="https://mercomindia.com/cumulative-solar-installations-india-surpassed-12-gw-5-5-gw-installed-financial-year-2016-2017/" target="_blank" rel="noopener noreferrer">12 GW</a>; 5.5 GW installed during FY2016-17, according to MNRE.</p>
<p>India generated <a href="https://mercomindia.com/india-generated-10-6-billion-units-of-solar-power-in-the-10-month-period-from-april-to-january-fy-2016-17-an-85-percent-increase-year-over-year/" target="_blank" rel="noopener noreferrer">10.6 billion units of solar power</a> in the 10-month period from April to January (FY2016-17), an 85 percent increase year-over-year.</p>
<p>In the 10 months from April to January in FY2016-17, the Indian solar sector registered export and import activity totaling <a href="https://mercomindia.com/solar-imports-grow-39-percent-exports-decline-56-percent-first-ten-months-financial-year-2016-17/" target="_blank" rel="noopener noreferrer">$2.2 billion (~Rs.150.3 billion)</a>.</p>
<p>Solar tariff in India touched a new low with Solairedirect’s winning bid of <a href="https://mercomindia.com/breaking-ntpcs-250-mw-kadapa-solar-auction-india-sees-record-low-winning-bid-rs-3-15kwh/" target="_blank" rel="noopener noreferrer">Rs.3.15 (~$0.0486)/kWh</a> in the Kadapa Solar Park auction.</p>
<p>Indian solar sector saw approximately <a href="https://mercomindia.com/indian-solar-sector-sees-1-6-billion-funding-ma-transactions-q1-2017/" target="_blank" rel="noopener noreferrer">$1.6 billion (~Rs.106 billion)</a> in announced corporate, project funding and M&amp;A deals in the first quarter of 2017.</p>
<p>The Solar Energy Corporation of India (SECI) reduced tendered capacity of rooftop solar from <a href="https://mercomindia.com/seci-cuts-solar-rooftop-tender-1000-mw-500-mw/" target="_blank" rel="noopener noreferrer">1,000 MW to 500 MW</a>.</p>
<p>On April 17, 2017, project developers signed power purchase agreements (PPAs) with the Madhya Pradesh Power Management Corporation Ltd. (MPPMCL) and the Delhi Metro Rail Corporation (DMRC) for the <a href="https://mercomindia.com/government-madhya-pradesh-signs-project-agreements-750-mw-rewa-solar-park/" target="_blank" rel="noopener noreferrer">750 MW</a> of solar to be developed at Rewa Solar Park.</p>
<p>India recorded a low power supply deficit of <a href="https://mercomindia.com/indias-power-supply-deficit-0-7-percent-fy2016-17/" target="_blank" rel="noopener noreferrer">0.7 percent</a> in the financial year (FY) 2016-17.</p>
<p>The National Thermal Power Corporation(NTPC) <a href="https://mercomindia.com/ntpc-upsizes-medium-term-note-program-6-billion/" target="_blank" rel="noopener noreferrer">upsized its medium-term note (MTN) program</a> to $6 billion.</p>
<p>The Central Electronics Limited (CEL) is planning to expand manufacturing capacity. The CEL invited an expression of interest (EoI) for a <a href="https://mercomindia.com/central-electronics-limited-invites-expression-interest-form-strategic-alliance-module-manufacturing-india/" target="_blank" rel="noopener noreferrer">strategic alliance</a> to manufacture flexible solar PV modules.</p>
<p>The Indian Space Research Organization (ISRO) developed an android application called the ‘<a href="https://mercomindia.com/indian-space-research-organization-develops-solar-calculator-app/" target="_blank" rel="noopener noreferrer">Solar Calculator</a>’, to calculate solar energy potential.</p>
<p>Domestic Content Requirement (DCR) tenders are on a <a href="https://mercomindia.com/mercom-exclusive-domestic-content-requirement-tenders-disappearing/" target="_blank" rel="noopener noreferrer">downward spiral</a>.</p>
<p>In Jharkhand, power purchase agreements (PPAs) for <a href="https://mercomindia.com/jharkhand-yet-sign-ppas-1-1-gw-solar/" target="_blank" rel="noopener noreferrer">1.1 GW</a> of solar projects that were auctioned in March of 2016 (LoIs signed May 2016) are yet to be signed.</p>
<p>The Tamil Nadu Generation and Distribution Corporation (TANGEDCO) will soon tender <a href="http://mercomcapital.com/tangedco-to-tender-1500-mw-of-solar-to-meet-rpo" target="_blank" rel="noopener noreferrer">1,500 MW</a> of solar to meet its renewable purchase obligation (RPO).</p>
<p>Fotowatio Renewable Ventures (FRV), raised <a href="http://mercomcapital.com/fotowatio-renewable-ventures-raises-$29-million-from-ifc-to-fund-100-mw-solar-projects-in-andhra-pradesh" target="_blank" rel="noopener noreferrer">$29 million (~Rs.1.86 billion)</a> in non-convertible debentures (NCDs) from the International Finance Corporation (IFC) to fund 100 MW of solar projects in India.</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/priya-sanjay/" class="vcard author" rel="author"><span class="fn">Priya Sanjay</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/Priya-Sanjay-Managing-Director-Mercom-India-1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Priya Sanjay,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/priya-sanjay/" target="_blank" rel="noopener">More articles from Priya Sanjay.</a></p>
</div>
<div class="authorboxn">
<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Priya-Sanjay-Managing-Director-Mercom-India-1.jpg" alt="Wendy Prabhu" />Priya currently serves as the Publisher for MercomIndia.com. With more than a decade of experience working in corporate communications, research, and policy, Priya has deep roots in the Indian energy markets and is regularly in touch with policy makers and industry leaders. Priya received her bachelor’s degree from Vidya Vardhaka College of Arts in Bangalore, India for Political Science and Economics and completed her MBA from Bangalore University. <a href="https://mercomindia.com/author/priya-sanjay/">More articles from Priya Sanjay.</a></div>
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Month in a Minute: Important Headlines and Data Points from the Indian Renewable Sector in April 2017

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