Headlines and Data Points from the Indian Renewable Sector in March 2017
The Asian Development Bank approved
million (~Rs.11.35 billion) loan to the Power Grid Corporation (PGCIL) to
expand its solar power transmission network across the country.
delays by distribution companies are inhibiting the growth of renewable
energy sector in India.
NTPC commissioned the 260
MW Bhadla Solar Project being developed under its self-owned projects
Greenko Energy Holdings, a
renewable energy company, raised $155
million (~Rs.10.14 billion) in equity funding by signing definitive
agreements with an affiliate of GIC and an entity that is wholly-owned
subsidiary of Abu Dhabi Investment Authority.
The National Thermal Power
Corporation raised Rs.20
billion (~$305.47 million) through the issuance of Green Masala Bonds in
the overseas market. The proceeds will be utilized to develop renewable energy
In the 10-month period from April
2016 to January 2017, in the current fiscal, 70.13
billion units of electricity were generated from renewable energy sources.
In the first nine months of financial
year (FY) 2016-2017, the interest costs of states and union territory DISCOMs (distribution company)
that have joined the Ujwal DISCOM Assurance Yojana
(UDAY) program have been reduced by Rs.119.89
billion (~$1.83 billion) compared to the same period in FY2015-16.
The government has approved the
increase of solar park capacity from 20,000
MW to 40,000 MW to develop a minimum of 50 solar parks of 500 MW each by
financial year 2019-20.
The Tamil Nadu Energy Development
Agency invited expression of interest to develop a 500
MW solar park in Tamil Nadu.
The Ministry of New and Renewable
Energy will receive ~Rs.53.41
billion (~$817 million) from the National Clean Energy Fund (NCEF) for
financial year 2017-2018.
Purchase Obligation (RPO) compliance needs to increase in states and union
territories if India is to achieve its renewable energy targets by 2022.
Amid low interest from solar
project developers, the Tamil Nadu Energy Development Agency has bid for 50
MW of solar in the 500 MW tender floated by the Tamil Nadu Generation and
Distribution Corporation (TANGEDCO).
So far, standalone solar projects
MW have been installed in India under the off-grid program.
The Indian Oil Corporation is
planning to tender 15
MW of rooftop solar.
In Karnataka, solar projects
MW have been commissioned so far, under farmers’ program. These projects have been constructed on land
owned by farmers.
The World Bank Group is providing
$25 million (~Rs.1.65 billion) loan to develop transmission infrastructure
at the Rewa Solar Park.
Canadian Solar and the Solar
Energy Corporation of India have signed 25-year power purchase agreement (PPA)
for solar projects aggregating 80
MW in the state of Maharashtra.
In India, average solar tariffs
have fallen by about 73
percent since 2010.
Fifty-seven inter-regional power
transmission projects costing Rs.72.68
billion (~$1.09 billion) have been approved under the Power System
Development Fund program.
A total of ~Rs.2.07
trillion (~$30.99 billion) DISCOM debt has been restructured under the
Ujwal DISCOM Assurance Yojana (UDAY) program in India.
So far, solar canal bank and
canal top projects aggregating 24
MW have been commissioned in India.
Solar in India accounted for ~9,378
million units of electricity produced in the country during the nine-month
period from April to December, 2016, an 81 percent increase over the same
period in 2015.
Renewable energy, now accounts
percent of India’s
energy mix. India’s installed renewable energy
capacity now stands at 50,745 MW.
In the nine months from April to
December in financial year 2016-2017, export and import activity totaling $1.9
billion (~Rs.127 billion) was registered in the Indian solar sector.
The Solar Energy Corporation of
India has cancelled solar projects aggregating 150
MW, tendered under the domestic content requirement (DCR) category in Bhadla
Solar Park, Rajasthan, under National Solar Mission Phase II, Batch 4.
companies across the country were paid a total of Rs.28.75
billion (~$430.21 million) against pending electricity bill payments during