Blogs
Bidding frenzy continues in the renewable sector
29 December 2017 | Mudit Jain
Three major auctions were completed last week – two for solar projects by SECI (Bhadla solar park 500 MW and 250 MW respectively) and one for wind projects by Gujarat Urja Vikas Nigam (GUVNL, fully owned by Gujarat government) (500 MW). The solar projects were won by Hero Future (300 MW), Softbank (200 MW), Azure (200 MW) and ReNew (50 MW) at tariffs between INR 2.47-2.49/ kWh (USD 0.04), a...
2017, a year of some ‘highs’ but many ‘lows’
18 December 2017 | BRIDGE TO INDIA
As the year 2017 comes to an end, we take stock of the progress made by the Indian renewable energy sector. It was an eventful year, during which annual capacity addition is estimated to touch record levels of 10.9 GW (+66% over 2016) including utility scale solar (9 GW, +110%), rooftop solar (887 MW, +60%) and wind (4 GW, +11%). Utility scale solar capacity addition actually exceeded our...
ISA makes slow progress
15 December 2017 | Surbhi Singhvi
International Solar Alliance (ISA), launched by India and France at COP 21 summit in November 2015, finally became a recognized organization under United Nations charter on December 6, 2017. It has initiated three programs so far – scaling solar applications such as solar water pumps and lighting systems for agricultural use, ensuring sufficient flow of affordable finance and promoting...
Uttar Pradesh announces a generic solar policy
11 December 2017 | BRIDGE TO INDIA
The UP state government has approved a new solar policy with a target of developing 10,700 MW of total solar capacity in the state by the year 2022. 60% of this target (6,400 MW) is proposed to be developed through utility scale projects and...
Rooftop solar losing steam
04 December 2017 | BRIDGE TO INDIA
BRIDGE TO INDIA has released the latest edition of its India Solar Rooftop Map report. As per the report, India added new rooftop solar capacity of 840 MW in the 12 months ending September 2017. Total installed capacity as of September 2017 stood at 1,861 MW. The sector has grown at a CAGR of 83%...
Public sector investment crowding out private investors
28 November 2017 | Surbhi Singhvi
Since 2014, around 29 GW of utility scale solar tenders have been issued in India. Most of this capacity (81%, 23.5 GW) has been tendered by NTPC, Solar Energy Corporation of India Limited (SECI), distribution companies (DISCOMs) and other public sector entities for project development by private sector. But there is also a sizeable 19% (5.5 GW) tendered in the form of EPC contracts, where...
MNRE announces a dizzying plan for the sector
27 November 2017 | BRIDGE TO INDIA
The Ministry of New and Renewable Energy (MNRE) has announced a new RE rollout plan entailing 91 GW of new solar and wind project tenders by March 2020. It is an ambitious attempt by the new MNRE administration to address private sector concerns about slowing project pipeline and lack of a...
Trade barriers alone unlikely to pole vault domestic manufacturing
23 November 2017 | Jyoti Gulia
The Directorate General of Anti-Dumping and Allied Duty (DGAD) is currently completing an investigation into imports of solar cells and modules from China, Taiwan and Malaysia subsequent to a petition filed by The Indian Solar Manufacturer’s Association (ISMA). The petition is similar to an
Should India reduce the 175 GW target to make it more realistic?
20 November 2017 | BRIDGE TO INDIA
Recently, there was a news report that the Indian government wants to issue a single 20 GW solar tender to boost solar project development and domestic manufacturing. R.K. Singh, the new Minister for Power and New and...
Renewable M&A still stuck in second gear
13 November 2017 | BRIDGE TO INDIA
M&A activity in the Indian renewable sector has been building up for some time but actual deals have been slow to materialize. Last month, Equis announced the sale of its 4.7 GW Asia pacific renewable IPP business to a consortium comprising Global Infrastructure Partners (GIP), China Investment Corporation and Public Sector Pension Investment Board of Canada. The Equis portfolio...
Adoption of new bidding guidelines slowing down tenders
08 November 2017 | Shaurya Bajaj
There has been a significant lull in announcement of utility scale solar tenders from the Solar Energy Corporation of India (SECI). It has announced only one tender – Bhadla 750 MW – this year in comparison to around 5 GW of new tenders in 2016. There have been expectations of new tenders totalling in Odisha, Chhattisgarh, Delhi, Karnataka, Andhra Pradesh and Bihar but none of these have...
Bad habits haunt the RE sector
06 November 2017 | BRIDGE TO INDIA
For more than 2 years, there have been persistent concerns that aggressive bidding in solar auctions is storing up trouble for the sector. Fortunately for the sector and the winning bidders, equipment costs kept falling more sharply than market expectations – 20% and 25% in 2015 and 2016 respectively. Developers have ridden the wave of falling costs and project delays to make handsome...
