Blogs
India’s first wind power auction to upend traditional business model
28 February 2017 | BRIDGE TO INDIA
India’s first ever wind power auction has resulted in a record low wind power tariff of INR 3.46 (US¢ 5.2)/kWh, just marginally higher than the record low levelized tariff of INR 3.29 (US¢ 4.9)/kWh in the recent Rewa solar auction (refer). Mytrah, Sembcorp, Inox and Ostro are...
India’s problems with coal sector continue
20 February 2017 | BRIDGE TO INDIA
In January 2017, India’s coal imports declined by 22 percent to 14 million tonnes (refer) because of lukewarm demand from power generating stations. Coal India Limited, which accounts for 80% of domestic coal production, has posted its worst ever...
Rewa project is a glimpse into future of the power sector
20 February 2017 | Vinay Rustagi
The 750 MW Rewa solar project has seen tariffs fall to a record low of Rs 2.97/ kWh. Levellized tariff works out to Rs 3.29/ kWh, 24% below the previous low of Rs 4.34 seen in an NTPC tender in January 2016. Most of this fall can be attributed to lower equipment cost. Solar module prices, constituting about 60% of capital costs, have fallen by 26% in the last year. The Rewa auction makes...
Lacklustre budget
15 February 2017 | Mudit Jain
The Union Budget of India for financial year 2017-18 was presented last week. The Indian budget making exercise is somewhat unique as it is seen as setting the tone for major government policy and reform agenda rather than merely a record of financial book-keeping. From that perspective, the budget was a disappointment as it didn’t break any new ground for the renewable sector. It included a...
Record low tariff in Rewa improves growth prospects for solar in India
13 February 2017 | BRIDGE TO INDIA
Madhya Pradesh government completed auction process for the 750 MW Rewa solar project last week (see our previous blogs – link 1 and link2), where tariffs fell to a record low of INR 2.97 (US¢...
SECI gets a significant boost to its credit rating
06 February 2017 | BRIDGE TO INDIA
In a very pleasing development for renewable IPPs, Solar Energy Corporation of India (SECI) has been included as a beneficiary in a tripartite agreement between the Government of India, state governments and the Reserve Bank of India (RBI). The tripartite agreement serves as a payment security mechanism for central government undertakings whereby, in the event of a payment default by any state...
Jharkhand shows the perils of participating in state government tenders
30 January 2017 | BRIDGE TO INDIA
In the second half of 2015, Jharkhand Renewable Energy Department (JREDA) had announced India’s then largest tender for allocation of 1,200 MW of ground mounted, grid connected solar projects. The tender size was so large as to meet over 90% of the state’s peak power consumption and over 20% of its overall power requirement. Despite this and the state being power surplus, the tender was...
International developers in a wait and watch mode
25 January 2017 | Vinay Rustagi
India is expected to add new solar capacity of over 9 GW this year as against less than 1 GW just three years ago. The country should join the exclusive top three solar countries club alongside China and USA. There are an estimated 15 GW of projects already allocated and in different stages of development. Growing market has led to a burgeoning investment interest from Indian and...
India’s first wind tender oversubscribed despite offtake uncertainties
23 January 2017 | BRIDGE TO INDIA
Earlier this month, Solar Energy Corporation of India (SECI) received bids for India’s first wind power tender (
750 MW Rewa solar project to break new ground
18 January 2017 | BRIDGE TO INDIA
Bids for the proposed and much delayed 750 MW solar power tender in the Rewa district of Madhya Pradesh are expected to be submitted early next week (refer our previous blog) although another extension still seems likely. The project is being tendered by Rewa Ultra Mega Solar (RUMS), a...
MNRE announces financial incentives for DISCOMs to support rooftop solar
09 January 2017 | BRIDGE TO INDIA
In a new policy move, the Ministry of New and Renewable Energy (MNRE) has announced financial incentives for DISCOMs to support rooftop solar installations (refer). The notification proposes a financial support of up to INR 3.75m (USD 55,000)/MW for up to 1,350 MW of rooftop solar...
India’s solar market expected to grow by 90% in 2017
02 January 2017 | BRIDGE TO INDIA
In our last bulletin in 2016, we presented our summary of key sector developments in India in 2016 (refer). Here, we look at key anticipated themes and developments for 2017. We start the year with a pipeline of around 14 GW of utility scale projects, out of which 7.7 GW is expected to be...
