Blogs
Changes afoot to improve investor risk profile
01 November 2019 | BRIDGE TO INDIA
MNRE has announced various changes to the competitive bidding guidelines for utility scale solar projects. There are broadly two...
Developers rushing to issue green bonds
22 October 2019 | BRIDGE TO INDIA
Indian developers have been rushing out to issue green bonds as liquidity in the Indian financial markets continues to stay stretched. An aggregate amount of USD 2.9 billion has been raised by Greenko (USD 1.3 billion), Adani (USD 862 million), ReNew (375) and Azure (350) in the last seven months. The spurt in issuance comes after a lull 2018 when no bonds were issued. Prior to that, a total of...
Sector reform essential to build growth momentum
15 October 2019 | BRIDGE TO INDIA
A mini-controversy broke out last week with Indian credit rating and advisory company CRISIL issuing a report claiming that India would under-achieve the 175 GW renewable capacity target for March 2022 by 42%. MNRE immediately issued a
Improving prospects of residential rooftop solar market
11 October 2019 | BRIDGE TO INDIA
Last week, Amplus Solar announced a foray into the residential rooftop solar market. The company, so far focused only on C&I consumers, plans to offer standard rooftop solar solutions backed by a long-term warranty and...
Project execution slowdown to continue
01 October 2019 | BRIDGE TO INDIA
Utility scale renewable capacity addition has been in a slow mode for the past eighteen months. We estimate Q3 2019 capacity addition at only 2,549 MW (solar 2,114, wind 435), about two-thirds of scheduled capacity addition. Since touching a record high of 5,111 MW in Q1 2018, quarterly capacity addition has averaged at less than 2,000 MW, substantially behind the implementation schedule and...
Rooftop solar O&M needs urgent policy intervention
26 September 2019 | BRIDGE TO INDIA
Indian rooftop solar market grew at an estimated CAGR of 83% over past three years. While the market grows rapidly, operation and maintenance (O&M) provision is often ignored. Specialist rooftop solar O&M business segment has not taken off yet in India and remains a disorganized, underdeveloped market. Key reasons include low consumer awareness, tendency to
Customs duty bazooka for module manufacturing
24 September 2019 | BRIDGE TO INDIA
After failure of all previous and ongoing policy initiatives to kickstart domestic manufacturing of solar modules, MNRE has recommended imposition of
Slowdown bites hard
20 September 2019 | BRIDGE TO INDIA
India’s total installed solar capacity touched 34,154 MW on 30 June 2019. This capacity is split between utility scale, rooftop solar and off-grid solar as 27,934 MW, 4,960 MW and 1,260 MW respectively. Total project pipeline – projects allocated to project developers and at various stages of development – stood at 19,698 MW as on 30 June 2019. Figure: Total installed and pipeline...
Forecasting regulations a tough proposition for developers
18 September 2019 | BRIDGE TO INDIA
In response to a petition filed by the Indian Wind Power Association (IWPA), the Rajasthan High Court has recently upheld validity of the forecasting and scheduling regulations. The IWPA had challenged validity of these regulations on the grounds of high penalty charges and poor forecasting ability of the...
The renewable energy bull run is over
10 September 2019 | BRIDGE TO INDIA
Last week, we stated that investor interest in the RE sector has fallen sharply in the last 12 months. In the wake of increasing costs and execution risks, difficulties in getting debt financing and
Undersubscription becoming a norm
03 September 2019 | BRIDGE TO INDIA
Two auctions were completed last week by SECI for a 1,800 MW wind tender and a 1,200 MW solar tender respectively. Both were heavily undersubscribed and received only two responses each: wind – CLP (250 MW) and Enel (300); solar – SB Energy (450) and GRT Jewellers (150). Final project allocations were made only for 441 MW (INR 2.83-2.84/ kWh) and 480 MW (INR 2.53-2.65/ kWh) respectively,...
C&I energy storage has a bright future
30 August 2019 | Surbhi Singhvi
Energy storage is slated to play a critical role in supporting rapid expansion of variable RE in the grid while ensuring its stability and security. While a number of grid-scale solar-storage hybrid tenders have been issued recently, activity in behind-the-meter market is yet to pick up pace in India. The residential...
