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November 18, 2013
It has been a quiet year for the Indian solar sector, with installations at 900 MW so far this year and final numbers forecasted to be similar to last year. With 420 MW of CSP projects missing commissioning dates, India is not likely to register any significant year-over-year installation growth for 2013, even as global solar market is forecasted to grow ~20%.
October 22, 2013
Mercom Capital Group, llc, a global clean energy communications and consulting firm, released its report on funding and merger and acquisition (M&A) activity for the wind sector during the third quarter of 2013.
October 07, 2013
Mercom Capital Group, llc, a global clean energy communications and consulting firm, released its report today on third quarter funding and mergers and acquisitions (M&A) activity for the solar sector.
Global venture capital (VC) funding in Q3 2013 totaled $207 million, up slightly from the $189 million raised in Q2 2013. VC funding was distributed across technology groups this quarter with PV companies receiving the most, $57 million.
August 19, 2013
The fundamentals of the solar sector have shifted. After years of panel price drops, module prices have gone up this year by about 10 percent, while the rupee has fallen about nine percent. As this occurs, policy, with all its changes and delays, have not been able to keep up with the rapidly changing solar market environment.
July 23, 2013
Mercom Capital Group, llc, a global clean energy communications and consulting firm, released its report on funding and merger and acquisition (M&A) activity for the wind sector during the second quarter of 2013.
July 08, 2013
Mercom Capital Group, llc, a global clean energy communications and consulting firm, released its report on funding and mergers and acquisitions (M&A) activity for the solar sector during the second quarter of 2013.
June 17, 2013
Amid all the bad news, bankruptcies and trade cases, global solar installations in 2012 totaled about 31 GW, a 13 percent year-over-year growth in a tough year. Demand for solar in 2013 looks promising despite the uncertainty surrounding the China-European Union (EU) trade case. A big reason for the improved outlook is due to the rise of Japan’s solar market, which is on pace to install in excess of 7 GW, compensating for the pullback in demand from Germany and Italy.
May 20, 2013
Current cumulative solar installations in India stand at 1,761 MW with about 557 MW installed so far in 2013. With most of the CSP projects that were due to be commissioned in May 2013 delayed, the forecast for installations in 2013 looks flat compared to 2012. Only about 60 percent of the targeted installation goal has been achieved so far despite the commissioning deadline of Phase 1 of JNNSM ending in May. Considering India is an emerging solar market where the growth rate is expected to be much higher than other parts of the world, installations in 2013 will likely end up disappointing the markets. The current solar policy environment looks more like an experiment than a serious policy that will help solve the current power crisis in India.
March 04, 2013
Before examining the reasons surrounding India’s solar manufacturing anti-dumping investigation, one overarching point must be made clear: India needs power. It is estimated that there are roughly 400 million Indians without access to power – roughly a third of the country, according to World Bank.
February 17, 2013
India installed -980 MW in 2012, slightly lower than our forecast of 1,090 MW. This was largely due to delays in Gujarat to commission 144.5 MW of PV projects; most states missed their renewable portfolio obligations (RPO) goals as enforcement is almost non-existent. Cumulative installations to date in India now stand at over 1.2 GW. In addition, there are 340 MW of PV projects due to be connected to the grid in March 2013 under the Jawaharlal Nehru National Solar Mission (JNNSM) Phase I, Batch 2 policy. We are forecasting India to install another 1.3 to 1.4 GW in 2013.
November 15, 2012
There was not a lot of movement in terms of solar installations in India in Q3 2012. Cumulative solar installations stood at 1,045 MW as of November 1, 2012, but there are about 1.1 GW of solar projects that are due to be installed in the next six months, including approximately 275 MW of PV projects in Gujarat with a deadline of December 31, 2012 and 340 MW of PV projects under the Jawaharlal Nehru National Solar Mission (JNNSM), due by March 2013. Another 27.5 MW of CSP projects, which were part of the JNNSM Migration scheme, are due by February 2013 along with 470 MW of JNNSM Batch II CSP projects are due by May 2013.
September 16, 2012
Solar demand continues to defy odds so far in 2012, which may result in another year of growth contrary to pessimistic views early in the year. Module prices continue to fall spurring demand. Tier 1 modules are now in the ~$0.70 range, after falling about 20 percent this year, and about 60 percent since the beginning of 2011. Negative forecasts have turned positive.
September 07, 2012
India has crossed the symbolic milestone of 1 GW in installations this year; at the time of this update, cumulative solar installations in India stood at approximately 1,040 MW. India can proudly boast that it has overcome the uncertainties and growing pains to establish itself as one of the top solar markets going forward. The Indian solar market is driven by Jawaharlal Nehru National Solar Mission (JNNSM) with a goal to install 20 GW of solar power by 2022, however state solar policies, state level RPOs and off grid projects are quickly catching up.
August 06, 2012
The massive grid failure in India last week affected over 600 million people. With speculations abound as to the reasons for the failure, we decided to talk to engineers working at the load despatch centers on the ground to get a firsthand understanding of what really happened.
July 26, 2012
Mercom Capital Group, llc, a global communications and consulting firm, today released its report on funding and merger and acquisition (M&A) activity for the wind sector during the second quarter of 2012.
July 11, 2012
Mercom Capital Group, llc, a global clean energy communications and consulting firm, today released its report on funding and mergers and acquisition (M&A) activity for the solar sector during the second quarter of 2012.
April 02, 2012
After over two years of policy deliberations and growing pains, India is finally seeing solar installations in meaningful numbers. India’s solar market is primarily driven by the national government’s Jawaharlal Nehru National Solar Mission (JNNSM) with a goal to install 20 GW of solar power by 2022, in addition to other state policies. The state of Gujarat has already installed 655 MW of its 968.5 MW goal. At the time of this update, cumulative Indian PV installations stood at 964 MW of which 745 MW has been commissioned so far in 2012.
January 11, 2012
Mercom Capital Group, llc, a global clean energy communications and consulting firm, today released its annual and fourth quarter funding and merger and acquisition (M&A) activity report for the solar sector in 2011.
“As the nation’s solar policies take shape, India is finally on the world’s solar funding map. Most investors that participated in Indian large-scale solar projects were export banks, government or state-owned banks. For India’s solar industry to truly thrive there needs to be a conducive environment to attract more robust participation from private financial institutions,” said Raj Prabhu, managing partner of Mercom.
January 03, 2012
There has been a flurry of activity in the Indian solar sector in the fourth quarter, as 350 MW of Phase 1 Batch II photovoltaic (PV) projects were announced under the Jawaharlal Nehru National Solar Mission (JNNSM). In addition, the industry anxiously waits to see how many projects were successfully completed as Gujarat projects were due for completion at the end of December 2011, and JNNSM Phase 1 Batch II projects were due for completion on January 10, 2012.
October 11, 2011
The Ministry of New and Renewable Energy (MNRE) announced in August that 35 of the 37 photovoltaic (PV) projects amounting to 140MW were able to submit evidence of funding and all of the seven concentrated solar power (CSP) projects amounting to 470MW were able to secure funding under Phase 1, Batch 1 of JNNSM. This is a very optimistic sign for the JNNSM solar program as there were doubts about the ability to secure funding on most of the projects due to the low bids submitted. What is not clear is if these projects were mostly funded by banks and financial institutions as project funding or if they were primarily funded through balance sheet funding. All PV projects in Batch 1 are due to be commissioned around the second week of January 2012 and Batch 1 CSP projects are due to be commissioned in May of 2013.
September 22, 2011
According to a first-of-its-kind survey conducted by Mercom Capital Group titled 'India Renewable Energy Awareness Survey,' only 56% of Indian consumers have heard of 'renewable energy' or 'clean energy', and only 27% of consumers have heard of 'energy efficiency'. Although awareness was low, 71% of Indian consumers surveyed are willing to pay higher rates for electricity from renewable energy sources.
August 29, 2011
New guidelines were issued by Ministry of New and Renewable Energy and the present set of guidelines is applicable to the Second Batch of the photovoltaic projects to be selected during 2011-12. These guidelines will have no bearing on the projects which were selected in the First Batch in 2010-11. There are several changes in the guidelines for batch 2 compared to the guidelines of batch 1.
July 12, 2011
By the end of the second quarter 2011, the whole of India’s solar sector was waiting anxiously for the looming deadline of July 9th - the date that project developers were to have secured funding for JNNSM Phase 1 (Batch 1) projects. This date has gained even more significance after the Secretary of Ministry of New and Renewable Energy (MNRE) publicly stated that projects that did not receive funding by this date would not get an extension, with outright project cancellations to follow. Companies were given six months from the PPA signing date to secure their financing.
April 06, 2011
After the launch of India’s Jawaharlal Nehru National Solar Mission (JNNSM), the world’s solar markets have been closely monitoring its progress. Particular interest is focused on the program’s movement from the policy stage into execution. In its first quarterly report on the region, Mercom Capital Group discuses its progress.
November 08, 2010
With more than 9,000 delegates, over 250 speakers and 600 exhibitors from 50 countries, DIREC 2010 turned out to be the most significant event for renewable energy held in India this year.
August 16, 2010
India's Jawaharlal Nehru National Solar Mission (JNNSM), a major initiative of the government of India, has set itself a goal of creating an enabling policy framework for deploying 20GW of solar power by 2022. India's objectives and intentions are commendable. Yet, as we have seen globally, once governments announce their intentions to develop a solar incentive program - a variety of interest groups, each with their own agenda, get involved to put their stamp on the policy. The final output of the recently released policy guidelines reflects both the overarching objectives of developing clean solar power, addressing power shortages and stakeholder concessions.
July 31, 2010
Mercom Communications India, Pvt. Ltd., a subsidiary of Mercom Capital Group, a clean energy communications and consulting firm attended the SOLARCON India 2010 conference held in Hyderabad last week. Having also attended 2009 SOLARCON, the difference in the mood was evident, with a rush of participant interest and enthusiasm. In 2009 participants were unsure of what the future of the sector had in store for them and relied on speculation about the future of the industry, whereas this year the conversation centered on achieving targets set by the ambitious Jawaharlal Nehru National Solar Mission (JNNSM).
August 14, 2009
The 3rd Renewable Energy India 2009 Expo held in New Delhi, India on Aug 10-12, 2009, had an impressive turnout from around the world. The event echoed the mood of the renewable energy industry in India, upbeat, yet uncertain. The participants were very excited about the future of renewable energies but were unsure about the effects of the global recession and the support the renewable energy sectors will receive from the Government of India.