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India will touch 78-80GW solar power capacity against 21.65GW now by fiscal 2023, says a Crisil report

Mumbai, August 14 2018: India will not be able to achieve its ambitious target of generating 100GW solar power by 2022 , ratings agency Crisil said. In a report, Crisil’s industry research arm said that in the best-case scenario, the country will touch 78-80 GW, against the current capacity of 21.65 GW.

Crisil expects an additional 56-58GW of solar capacity addition between fiscals 2019 and 2023. While this is a vast improvement from the 20GW added during 2014-18, it still falls short of the National Solar Mission target by a fifth. (See chart) A safeguard duty on solar modules from China and Malaysia, which took effect this month and will continue for two years, is expected to slow capacity addition.

“We are more confident that projects with the Solar Energy Corp. of India (SECI) will be executed faster; their projects are better able to deal with evacuation concerns (i.e. connection to the national grid),” said Rahul Prithiani, director, Crisil Research in an interview.

According to rports published in www.livemint.com Individual states have also set aggressive targets under their respective solar policies. While 7.3 GW is under construction, based on already allocated schemes, another 1.7 GW is expected to be tendered and allocated over fiscal 2019 based on upcoming tenders under various state policies as on July, the report shared exclusively with Mint said. “However, state government projects are not as well-funded and they have less access to cheap financing,” Prithiani added.

A key area of concern is the rooftop solar segment. The solar mission’s target for the rooftop segment—using the rooftops of commercial and industrial units to generate their own power and depend less on the grid—is 40 GW by 2022. Crisil expects this figure to be not more than 8 GW by 2023, because the cost of power here is expected to be far higher than from the grid.

“There are execution and counter-party risks to the rooftop segment, and that’s why we’re expecting the big shortfall here,” Prithani said. “Unless the rooftop solar segment is supported with a firm battery market and the legal enforcement of contracts because developers run the risk of the host establishment not honouring a contract when tariffs change, the rooftop market will struggle.”

Industry experts believe that the safeguard duty will raise capital costs by 15-20%, adding 30-40 paise per unit to bid tariffs so developers can maintain the same rates of return on their investments.

India achieved a record low solar power tariff of ₹ 2.44 per unit in May 2017 . In July, tariffs again touched ₹ 2.44 per unit in an auction conducted by SECI.

However, uncertainty regarding the duty is making developers wary. Acme Solar, which had quoted the lowest tariff of ₹ 2.44 a unit, has about 2000 MW of projects where construction is either underway or yet to begin. On 7 August, Acme told Mint that it would pull out of these projects if it has to bear the additional burden of the safeguard duty.

States are also seeing tariffs rise. At a July auction by Uttar Pradesh for 1,000MW, the lowest bid came in at ₹ 3.48 a unit. The state cancelled these auctions. SECI also cancelled 950 MW of solar tenders in July, unhappy with the tariffs that developers were bidding according to www.livemint.com

“The government must be live with the outcome of bid price; it should go ahead with these projects even if tariffs are higher than what they like,” Prithani said. “It’s hard to say which tariff is unreasonable; it’s hard to predict whether module prices will go up or down in the future. If bids are scrapped, you’ll further delay the overall programme.” India is the world’s third-largest energy consumer after the US and China. Its renewable energy programme is ambitious where as it stands now.

 
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Mumbai, August 11, 2018: Kissht, one of India's promising fintech EMI payment and digital lending platform today announced their tie-up with Luminous Power Technologies Pvt Ltd, to provide easy finance and EMI offers to its online customers. Luminous Power Technologies is India's leading power & home electrical specialist with a vast portfolio comprising of Power back up solutions such as Home UPS, Batteries and Solar Applications to Electrical offerings such as Fans, Wires, Switches and LED lighting.

Customers can now purchase Luminous Products using the convenience of Kissht's easy finance and EMI offers.

Speaking on this partnership, Krishnan Vishwanathan, CEO and Founder, Kissht said, "Our partnership with Luminous Power Technologies will help customers across the country to purchase home power and electrical solutions at easy, convenient finance options. More importantly, as we are stepping into the onset of the summer season, frequent power-cuts will be at large across the country – our affordable finance options will definitely enable customers to purchase power- back up systems at ease! "

Commenting on the partnership with Kissht, Sachin Bhalla, SVP-Marketing, Luminous India said, "We are betting big on increasing our online sales contribution across our portfolio. This partnership with Kissht is aimed towards enhancing consumer experience in the buying process and helping them choose the best products suitable for their needs without worrying about financing the same."

Corporate Comm India(CCI Newswire) 

 
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New Delhi, August 11, 2018: India is recognized globally as a nation with advanced nuclear technologies. India has developed comprehensive capabilities in all aspects of nuclear power viz. Siting, Design, Construction, Commissioning, Operation & Maintenance and waste management of nuclear power plants.

Presently, nuclear power plants are set up in cooperation with Russian Federation in the country. Two power plants viz. Kudankulam Nuclear Power Project (KKNPP) 1&2 are already commercially operating. Inter Governmental Agreement (IGA) for co-operation in peaceful uses of nuclear energy have been signed with 17 countries.

Our atomic energy policy strengthenes our relations with foreign countries.

This information was provided by the Union Minister of State (Independent Charge) Development of North-Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr Jitendra Singh in written reply to a question in Rajya Sabha today.

 
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New Delhi, August 11, 2018: In February 2018, an Expert Committee under the chairpersonship of Secretary, Ministry of New and Renewable Energy, with representatives from relevant Ministries, industry associations, research institutions and experts was constituted by the Ministry of New & Renewable Energy to propose draft for setting up National Energy Storage Mission (NESM) for India. The Expert Committee referred has proposed a draft NESM with objective to strive for leadership in energy storage sector by creating an enabling policy and regulatory framework that encourages manufacturing, deployment, innovation and further cost reduction.

NITI Aayog and Rocky Mountain Institute’s joint report on India’s Energy Storage Mission has proposed three stage solution approach i.e. creating an environment for battery manufacturing growth; scaling supply chain strategies; and scaling of battery cell manufacturing.

The report is available at (http://www.niti.gov.in/writereaddata/files/document_publication/India-Energy-StorageMission.pdf).

Energy Storage is one of the most crucial & critical components of India's energy infrastructure strategy and also for supporting India's sustained thrust to renewables.

Key areas for energy storage application include:

  1. integrating renewable energy with distribution and transmission grids;
  2. setting Rural micro grids with diversified loads or stand-alone systems; and
  3. developing Storage component of electric mobility plans.

This was informed by Shri R. K Singh Minister of State (I/C) for New and Renewable Energy and Power in a written reply in the Lok Sabha today.

 
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New Delhi, August 11, 2018: solar tariffs in India saw the lowest ever level of Rs.2.44 per unit in reverse auctions carried out by Solar Energy Corporation of India (SECI) in May 2017 for 200 MW and again twice in July, 2018, for 600 MW in each instance.

As per the final findings dated 16th July, 2018, in the investigations concerning imposition of Safeguard duty on import of solar cells and modules, Directorate General of Trade Remedies (DGTR) has concluded that: “The domestic industry has suffered serious injury, considering overall performance, on the basis of listed economic parameters such as market share and profitability, which have sharply declined over the injury period 2014-2015 to 2017-2018 (Annualised) whereas market share of imports have increased during the same period. This has caused significant overall impairment to the domestic industry. Based on the final findings of DGTR, the Government, through notification no. 01/2018- Customs (SG) dated 30th July, 2018, have imposed Safeguard duty on import of solar cells whether or not assembled in modules or panels, as follows:

  1. Twenty- five percent. ad valorem minus anti-dumping duty payable, if any, when imported during the period from 30th July, 2018 to 29th July, 2019 (both days inclusive);
  2. Twenty- percent. ad valorem minus anti-dumping duty payable, if any, when imported during the period from 30th July, 2019 to 29th January, 2020 (both days inclusive);
  3. Fifteen- percent. ad valorem minus anti-dumping duty payable, if any, when imported during the period from 30th January, 2020 to 29th July, 2020 (both days inclusive);

Nothing contained in the notification dated 30th July, 2018, mentioned above shall apply to imports of subject goods from countries notified as developing countries vide notification no. 19/2016-Customs (N.T.) dated 5th February, 2016, except China PR, and Malaysia.

The Guidelines for Tariff Based Competitive Bidding Process for Procurement of Power from Grid Connected Solar PV Power Projects‟ notified on 3rd August, 2017, provides under the clause 5.7, Change in Law‟, that “In the event a Change in Law results in any adverse financial loss/ gain to the Solar Power Generator then, in order to ensure that the Solar Power Generator is placed in the same financial position as it would have been had it not been for the occurrence of the Change in Law, the Solar Power Generator/ Procurer shall be entitled to compensation by the other party …………” The Government, through a clarification dated 2nd April, 2018, to the above referred Guidelines, has clarified that the term 'change in the rates of any taxes' as mentioned in clause pertaining to, Change in Law of the said Guidelines includes "change in rates of taxes, duties and cess."

Domestic manufacturing of solar cells and modules in India is being supported by the Government of India through Modified Special Incentive Package Scheme (M-SIPS) of the Ministry of Electronics & Information Technology. The scheme, inter alia, provides for:

  1. 20-25% subsidy for investments in capital expenditure for setting up of the manufacturing facility.
  2. Reimbursement of counter vailing Duty (CVD)/ Excise Duty for capital equipment for the units outside Special Economic Zone (SEZ).

Further, the solar power projects being implemented by the Central Public Sector Undertakings (CPSUs) with financial support from the Government and those rooftop solar projects which are implemented with central financial assistance are mandated to source their requirement of solar cells & modules from domestic sources as per extant Guidelines, in a World Trade Organization (WTO) compliant manner.

This was informed by Shri R. K Singh Minister of State (I/C) for New and Renewable Energy and Power in a written reply in the Lok Sabha today.

 
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New Delhi, August 11, 2018: Award presented by Mr. Ratan Tata, Chairman Emeritus, Tata Sons and Mr. N. Chandrasekaran, Chairman, Tata Sons at Mumbai

Tata Power Delhi Distribution (Tata Power-DDL) has been adjudged as the 'Industry Leader' for crossing landmark score of 650+ in its Tata Business Excellence Model (TBEM) assessment 2017. The award was presented by Mr. Ratan Tata, Chairman Emeritus, Tata Sons and Mr. N. Chandrasekaran, Chairman, Tata Sons to Mr. Praveer Sinha, Chairman, Tata Power-DDL and CEO & MD, Tata Power and Mr. Sanjay Banga, CEO, Tata Power-DDL at the JRD QV Award function held recently at the National Centre for Performing Arts (NCPA) in Mumbai.

The Tata Business Excellence Model (TBEM) matrix has been conceived to deliver strategic direction and drive business improvements at the Tata Group. Aimed at enabling Tata Group companies capture the best global business processes and practices, the model invests Tata Group companies with the inherent dynamism to evolve and keep pace with ever-changing business performance parameters. The main objectives of the TBEM assessment methodology is to enhance value for all stakeholders and contribute to marketplace success, maximise enterprise-wide effectiveness and capabilities, and deliver organisational and personal learning. TBEM's core values and concepts are embodied in Leadership, Strategic Planning, Customer Focus, Measurement, Analysis and Knowledge Management, Workforce Focus, Operations Focus and Business Results.

With this recognition, Tata Power-DDL has now joined the elite club of Tata Group Companies with 650+ score, the others being Tata Steel and TCS.

The recognition for 'Industry Leader' demonstrates Tata Power-DDL's exemplary work towards the reduction in AT&C losses, adoption of technological breakthroughs for improving customer services and reliability of power to world class levels and empowerment of the community it serves through its focused Social Innovation initiatives.

Speaking at the felicitation ceremony, Mr. Praveer Sinha, Chairman, Tata Power-DDL said, " We are extremely honoured to receive the 'Industry Leader' Award. Tata Power-DDL is a pioneer in the distribution reforms in the country and a shining example of the Public Private Partnership in the distribution space. The company is committed to the vision and mission of the Govt. of India to provide Power to All and is helping improve the power distribution scenario through consultancy services to other state utilities."

Speaking on the occasion, Mr. Sanjay Banga, CEO, Tata Power-DDL said, "Over the years TBEM assessment process has led to significant improvements in the quality of service across verticals in the company through seamless integration and alignment among functions and processes and catapulted us to the 'Industry Leader' position. The award inspires us to perform even better and move from a company which is Best in India to one of the Best in the World and transform ourselves into a Global Leader."
Corporate Comm India(CCI Newswire)  

 

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