START-UP INDIAPDF Compressor Free Version‘We want to make investing insolar as simple as investing inmutual funds’Aggregation platforms like Energy Sage, Power Scout and AbundanceInvestment have been instrumental in making solar adoption and investmentaccessible to masses in the USA and Europe, says Rajiv Dinesh co-founder andCEO, Sunfund Renewable, an advisory platform for solar setupsqSunfund works as an consumers? customers and diidence in decision making. advisory fulfilment Our goal is to present right information and platform for solar Sunfund helps customers to discover theirconsumers. Tell us how does solar savings potential, understand long term connections that make investing in solar asit work for the benefit of implications of diferent inancing models and simple as investing in mutual funds. get ofers from India’s leading solar companies for their solar requirement. In other words The company works closely with Sunfund helps customers from every segment the industry. Tell us about your - residential, institutional, industrial and associated with the veterans in commercial - to ‘Go Solar With Conidence’. the industry? In fact I would call solar companies also as Access to neutral and reliable advisory customers of the platform. Solar companies has been a critical and growing gap in the today are inundated with leads of variable industry. Customers today don’t know quality and end up spending a lot of precious where to start their search for solar, where business development time, efort and money to get information whether solar is right for to follow up on these. their speciic needs, or to understand the diferent modalities in going solar. With the We have optimized and technologically ever-growing number of manufacturers and enabled processes like site surveys, technical installers, there is confusion in the minds of analysis, O&M etc. to enable solar companies June 2017 | Energy Next | 51
START-UP INDIAPDF Compressor Free Versionto save time and cost on these activities by The inlux of talent into the clean energyutilizing our services in these domains. ield has been remarkable. This of course has to also do with the massive impetus We also help them save on business and priority given to the sector by thedevelopment costs with access to highly government, personally led by PM Modiqualiied leads on our platform. his isbecause our customers understand exactly that a big threat to the solar industry is loss you are one of its kind platformwhat they want out of solar, we give solar of conidence due to poor workmanship by in the country. where did thecompanies access to decision makers, and novice solar companies. idea come in from?we match customer and companies that are Two years ago, I had my irst exposure to solarrelevant for each other. Solar companies can join the platform when I joined my friend and now co-founder by registering at https://www.sunfund.in/ Ankit Sheoran (a seasoned solar entrepreneur We have been working with veterans in installer/ and clicking on Join Sunfund. Solar with experience across the country) on a tripthe solar industry ranging from the solar companies can create a web based Company for a rootop solar installation in a remotearms of large conglomerates like Hero, Bosch Proile, and Case Studies of their satisied village in Uttarakhand. From then, we wouldand Tata to specialist solar companies like customers. hey can also upload documents, continuously debate the challenges on theCleanmax, Amplus, Sunsource, etc. What images and videos of their work to have a road to comprehensive solar adoption inhas been amazing is the speed with which single window showcase of their company. India, now that the technology had becomethe leaders in these companies understood We have seen that making the efort to create inancially viable. At the same time, wethe beneits of our ofering and acted on it a good quality proile can have a very positive also noticed the way people’s patterns ofby actively participating on the platform. I efect on potential customers. consuming information, online shopping,would deinitely attest to the fact that the solar comparison shopping, review based shoppingindustry is being led by highly ambitious, We are currently on-boarding solar were evolving in the country. With mytactically agile and strategically astute leaders. companies with the following minimum technology and consulting background andhis can only imply good things for India’s qualiications: Ankit’s experience in solar, we felt that wesolar future, as we combine our customer • Should be a MNRE Channel Partner could deinitely be the agents of change forfocused platform with the delivery capability • Should have at least 3 years of experience in jumpstarting solar adoption in India throughof the solar developers and EPC companies. solar rootop installations the unique platform that has come to be • Should have at least 20 running solar known as Sunfund.Is there any criterion for a installationcompany to be able to join your how are platforms like theseplatform? Project opportunities get further iltered helping the cause elsewhereOne of the objectives of our platform is to relevant to the geographies of operation, sizes internationally? how did you feelensure that customers interact with a pre of projects previously installed and customer the need for such a platform inscreened set of quality installers who know mandate. his ensures that solar companies do India?their job and who have the capacities to not end up wasting any time on irrelevant leads. Aggregation platforms like Energysage, Powerservice you today and tomorrow. We believe Scout and Abundance investment have been instrumental in making solar adoption and solar investment accessible to more and more people in the USA and Europe. he brilliant thing about such platforms is that they can not only provide very neutral information to customers but also gather neutral market intelligence from a large number of customers. Just over the last 10 months, we have been closely involved in understanding the solar requirement and uniltered opinions of over a thousand customers. Starting from the last quarter of this year, we will be publishing detailed quarterly customer intelligence reports that can act like a feedback loop for solar companies to52 | Energy Next | June 2017
IDEASPDF Compressor Free Versionbetter meet the needs of their clientele. We felt that solar in India had crossed We felt that solar in India had crossed the the inlection point from being in the domain of few environmentally-inlection point from being in the domain of focused or government-mandatedfew environmentally-focused or government- organizations to being accessiblemandated organizations to being accessible and inancially viable to almost everyand inancially viable to almost every customer customer segment in the countrysegment in the country. However, our diligentmarket research showed the gaps in trust and • Awareness and access to information - term operations, maintenance and new capacityconidence that was preventing the mainstream various programs of the government and the addition in the renewables sector. he emergingfrom adopting solar more aggressively. Having Sunfund platform have already started making areas of Start-up India, Digital India and Skilllooked at our own capabilities, the track record an impact in this space. However the reach India can work beautifully in parallel withof international aggregation platforms and will need to be broadened the growth of this industry to create a skilled,the emergent scenario in India, we felt that • Access to inance - this is an area that still entrepreneurial and tech-enabled workforce forthe Sunfund platform could be the answer for needs a lot of work. While banks across fulilling the needs of this sector.accelerating solar adoption. India have shown an increasing support for this sector, inancing in this ield needs to Summarize three reasons whyIndia has set an ambitious clean be productized to result in a convenient and renewables hold the promise forenergy target and with more and viable option for customers modi skill India call?more youth joining in, how far do • Greater participation of Discoms - • Growth of renewable entrepreneurs acrossyou think we have reached on Discoms will also need to encourage people the country, and development of skilledthe goal? through their rapid response to net metering workforces within these companies, asIndeed, the inlux of talent into the clean requests, implementation of solar related witnessed by the surge of MNRE channelenergy ield has been remarkable, especially regulations etc. partners over the last yearover the last ive years. his of course has renewables shows tremendous • Massive requirement of skilled distributedto also do with the massive impetus and workforce for operations and maintenance ofpriority given to the sector by the government, promise for jobs creation in lndia multi-billion dollar built infrastructure whichpersonally led by Prime Minister Modi. he will create jobs for the upcoming generation ofrate of solar adoption is staggering and an and venture is a perfect case for employable youths as wellexample for the rest of the world. • Growth of technology and knowledge-based start-up and digital India. your platforms and entrepreneurs (like Sunfund) While the country is making excellent trying to optimize the emerging challengesprogress on the government driven solar farm comments? this very large ecosystem.sector, rootop sector has also been doubling ininstalled capacity over the last couple of years. A positive and highly desirable fallout of thehis however, still falls short of the targets ambitious target of the government in this sectorenvisaged for the rootop sector. he main is the creation of jobs, not just for the currentthings that need to be overcome to enable the exponential growth phase, but also for the longermarket to reach its potential are as follows: June 2017 | Energy Next | 53
INTERVIEW PDF Compressor Free VersionTo meet targets India needs tobundle up against falling tarifsIn order to attract more investment in India, a government-level pricingmodule and inancial support need to be looked at, says Glenn Ensor,Managing Director at Penwell InternationalqPennwell has been is currently going through huge transition Worldwide, not just India, if scalable publishing print and which is creating diiculties for utility – utility scales or industrial scales storage online magazines and players. Africa is a growing market and our –that breakthrough is going to happen andnewsletters, conducting many businesses in South East Asia is very strong. we are moving towards that very quickly.conferences and exhibitions With cheap access to gas, North America is his probably happened more quickly thanacross six continents for years. a very steady power market. people think. he combination of wind andwhat has been the response so certainly solar and storage will have massivefar? how is the Power-Gen implications on the shape of the energySince 1910 PennWell has been known India & Central asia and provision sector going forward. hat momentfor providing comprehensive coverage renewable energy world India is coming and everybody ready for it.of global strategic markets. In 1988 2017 different from previousPennWell launched its first event and now editions? and what is the As the very ability of renewables has beeninternationally the POWER-GEN franchise response from the audience? its weakness and that is why must be backedis the largest, covering six continents. We are in the process of re-strategizing the up by controllable power plants. One doesn’t event and will be announcing new event have to be genius to see what that means in Obviously events in any market are the information soon. terms of India reaching its COP target.parameters of the market in which theyserve. It has been very interesting, in my The event is still the largest gathering what do you have to say about18 years of the company, to see the ebb of thermal power professionals in India uk/uSa Government’s policies,and flow that reflect the markets as they However, we are struggling with the subsidies and incentives for theare. We have been in the Indian market renewables market. We need to find a way renewable industry?since 1996 and we reached an absolute high to get that market more energised. It is interesting because when one thinkspoint in the market in 2011-2012. Since of the US government under the imagethen with the rush in renewables, it has We think that the thermal sector is going projected by the current administration,been a struggle for the conventional power to be steady and continue to provide a bit one thinks that they wish to head back intomarket and we have seen that reflected in of bedrock for the power generation sector. fossil fuels. But that is not going to be thePOWER-GEN as well. We are committed to We will be looking to cover the digitisation case. The US industry has been dominatedIndia and we want to deliver the best events of the power sector and explore the value by the access to cheap shale gas for ain every market in which we operate. chain in terms of the supply of the power long time and the gas market for power and end-consumers. A new beginning for generation is still very strong there because Talking about the response and looking at POWER-GEN is coming. of the economics.the power market around the world, Europe what breakthrough solutions However, the USA has been leading in do you have for the renewable solar and wind energy while Texas and energy market? California for many years have now been It is not our job to provide solutions, our job leading wind supplies – a policy encouraged is to communicate them and relect where by George W Bush-I, when he was the they come from in the market. However, Governor. We seek continuation of that. if you are looking at the problems of the renewable sector per se, in India for instance, We also see the way people in GE are they now expect very low prices for KW/ operating by offering digital solutions in hr for solar units. his I think is going to be the sector and if you are looking at major a break on investment. So, India needs to changes coming, that will be it. One can deal with that question if the booms and the only see the current US government’s targets for old installations are to be met. move to make coal more popular again, somewhat aggressive and we would see54 | Energy Next | June 2017
EVENTPDF Compressor Free Versionhow history judges that. Clean power will on that perspective any more. looking at the entire renewablecontinue to rise in the US and of course Currently we are securing the markets that energy spectrum, what couldwith players like Tesla, they are also be the ways to attract moreleading the battle of storage. There is a lot we have. We will continue to maintain a huge investment here?happening there. interest in energy. Our business also covers I think probably a government-level in ire engineering, coal, advance technology, pricing module and financial support The UK, and I speak as a British person lighting that sort of areas as well. needs to be looked at. The record rate ofmyself, haven’t really had a defined energy 2.44 Kw/hr would be difficult to get returnspolicy. They have been driven largely by As far as our events are concerned, we as far as the private sector investors inclimate commitments. So, the development are going to digitise them as well. So, it’s solar are concerned. It is not a technicalof off-shore wind, nuclear energy, the not just three days of communication, it issue, I think that here in India, it islow-carbon fuels is definitely what the is conversational – an ongoing trend in strategic policy issue. There will be a lotgovernment is pushing for. Gas, we do use digital spheres, the social media and other to talk about it if the Modi governmentand its price in Europe and the UK makes such platforms. wishes to achieve its over 100 GW targetit less attractive option than in the US. We of renewable power. The private playersalso question how sustainable the strike As I hinted earlier, regarding serving the are going to have a huge part to play andprice modules are for things like offshore power market, we are going to broaden our it just has to have the right investmentwind and nuclear which are very high and scope further down into the whole of what conditions. It is a financial policy question.are considered by some of the tax payers we call the electricity value chain ratherand the bill payers to be unsustainable in than separating generation, transmission what are the challenges whichthe long run. I will have to see how that and distribution – certainly in Europe and you faced in organizing Power-plays out and of course we have an election led by Europe. This is also happening in Gen India & Central asia 2017?coming. We will see. other markets as well and happening very The challenges that we faced were not quickly. Those things are melding more logistics really, it was more about howwhat’s new in the kitty of into business models and how people we communicate with the market andPennwell? operate on these models is something we the people within it. India is an advancedAs a company, we are turning ourselves into need to reflect on, we will be doing that. country now, in many ways, with aa digital company. Our information ofering thriving business community that engagesbefore very long will be 100 per cent digital. Seeing the success of the with us. It is important for a thrivingWe will create fully immersive and digital Power-Gen India & Central and growing economy like India to keepcontent and provide big data solutions. asia 2017, what would be your up with time and the renovation of the next move? Pragati Maidan stands testimony to the This is the scenario in which we are It has been surprisingly successful given ongoing modernization. I look forward tomoving the company rapidly into and the state of the generation market in serving people.already have been for many years. Our conventional power. I was very happy to beCEO, even at the ripe age of over 60 years, walking the floor to see it busy. However,had said – ‘Digitize or die.’ Nobody argues we plan to improve and modernize the event concept and the delivery of it too. June 2017 | Energy Next | 55
EVENT PDF Compressor Free VersionWith strongerrupee, Indiaset to attractinvestmentAccording to experts, India is a bank-led market and therefore, interest rateschange frequently. his scares foreign investors. But if we run sensitivity testsand then we see that luctuations are not much, Energy Next reportsThe Ministry of New and Renewable day! Many multi-nationals have beneitted from Kingdom. Goyal was visiting the UK for Energy organized one of its kind this demand, and look upto working in India. business events like the India-UK Business event called the Renewable Energy High demand from a populous nation has Roundtable on Energy and UK-India Conclave World India. Held in iconic Pragati reduced cost of technology in expectation of 2017. With this listing, foreign investors haveMaidan of capital Delhi, the symposiums, good returns from initial stages itself. access to the Indian companies while providingplenaries and exhibitions brought together liquidity to them. his is one of the rare eventsstakeholders in RE sector including “If we scale up in India, cost of technology as listing a company for masala bonds – bondsgovernment representatives, industry tycoons, can drop by upto 50%. We found this emotion issues outside India but denominated in theinancers and academics. resonated in a meeting in Austria. Industry Indian rupees – has to have high turnover people from Austria were telling us how and it is expected that it is ambitious for its An important session was on inancing they have beneitted from higher demand in expansion. It also showed that the Indianoptions for RE – “How to Successfully India. he point is policies in India can create government is inclined to help business inFinance Renewable Energy Projects – Real- opportunities for technology and Indian renewable energy.life Examples”. he session deliberated upon entrepreneurs settled abroad or workingconnections between policies on renewable there,” said Narang. “Rupee bond is a game changer. Rupee theseenergy and businesses which are involved days is stronger than before and it is going toin it. It was pointed out that if a country like He said that, however, the country has to help the business,” Narang added. He said thatIndia, which is among the highest populated improve returns and the models of inancing Indian distribution companies (Discoms) delaycountries on the world, designs its policy in have to take this need into account. “India the work which decreases returns.favour of renewable energy then the business is short of both equity and debt and thereacross the globe beneits. are ways to improve the situation. Recently, Taking on from Narang was DaanishVarma National hermal Power Corporation Limited from Yes bank. He brought in perspectives Indicating at the increasing demand of listed its bonds on London Stock Exchange. from banking and informed the audiencerenewable energy products, Devin Narang from his is a huge opportunity,” he said. about the expectations of banks. He agreed thatSindicatum, Singapore, said that till six to seven masala bonds are a good strategy. In 2015, Yesyears ago, India was importing 6,000 LED bulbs Narang was referring to NTPC, government bank had issued masala green bonds in the LSE.per year. Now, India is imports 6,000 bulbs a run power giant, listing itself on LSE during Green bonds are issued to be used in private visit of Power Minister Piyush Goyal to United56 | Energy Next | June 2017
BETTER RETURNSPDF Compressor Free Versionsector investments that address climate change. “India with its renewable He said that cost of borrowing is a concern programme, is short of equity and debt because every bankdue to exchange rates between Indian Rupee has limited exposure to powerand US Dollar. However, he said things are sector and therefore there is a hugeslowly changing positively for the Indian Rupee. opportunity for people to investing in this market.” “In our understanding, international marketsare opening up to Indian Rupee. But as of now, Devin Narang, Managing Director, Sustainable Biomass,they are not taking risks beyond ive years. heyare going for bonds for ive years maximum. Sindicatum Renewable Energy, SingaporeBut renewable energy bonds need 10 years orso. So, there is still a gap there,” Varma said. “Over the past three to four years, we have seen global Referring to equity and debt issue, he said liquidity at all time high andthat both have been available, but have been global interest rates at all timeinsuicient. “Equity is gravitating toward better low. But the most important concern fordevelopers,” he said. here have been many a regulator in India has been the cost ofplayers in the market and all have claimed inancing. And that has essentially to domoney from the banks’ pool. But slowly the with dollar-rupee exchange rate and thecompanies that have delivered better results are foreign exchange rate.”garnering more funds. Daanish Varma, Sustainable Investment Banking, Yes bank He said that India’s bond markets are still innascent stages and need time to settle. “India “Two months back I was inis a bank-led market and therefore, interest Berlin for Energy Transitionrates change frequently. his scares foreign Dialogue. There was a hugeinvestors. But if we run sensitivity tests and attraction from globalthen we see that luctuations are not much,” he investors for coming to India and investadded. Such patterns can be used to convince here. It was very clear that India was aforeign investors. potential market to them.” Meanwhile, long-term projects are typically Rakesh Bohra, Sr Assistant Manager, Green Initiatives, Infosysfunded by the Indian banks. No foreignbank has long-term balance sheet for Indian then the eiciency drops by 50%, afecting out on India’s solar story. With so much of solarcurrency. He said that not even one solar production of electricity to a great extent. energy in the country, every big player wantsproject has been under default in their bank Hence, it was said that external factors also to harness it and make proits. his will keepand hence the future looks bright. have to be looked into while creating goals for bringing costs down,” he added. renewable energy in India. Rakesh Bohra, who works for Green It is said that 600 USD of investment isInitiatives at Infosys shared his experience. Talking about business leaders in the ield, he expected in the next ive years in India. It is“India is a good place for investments because said that world over there is interest in India’s aimed at meeting the target of 100 Giga Watt ofgeography is on her side. Radiation in India is growth in solar energy. “here is fear of missing renewable energy by 2022.among the highest in the world and this energyshould be tapped in,” said Bohra. It was pointed out in the session thatdegradation of Photovoltaic (PV) Solar Panelshas raised concerns in India. On an average,usually the degradation is 1.5%. However, arecent study by Indian Institute of Technology– Bombay found that in India this averageis much higher. hey estimated that thedegradation rate is as much as 2.5-2.8% inthe country. his is due to many reasons. Forexample, pollution is a major reason for fasterdegradation. Dust impacts eiciency of thepanels. In less polluted countries, panels arecleaned once in two to three months. But inIndia, they have to be cleaned every 15 days.If a plant is let without cleaning for a month, June 2017 | Energy Next | 57
EVENT PDF Compressor Free VersionSECI to launch ofshore arm toboost demand in ISA memberISA to launch an online platform, titled Infopedia that will provide an e-librarywith videos and reading material on the best practices that can be shared acrossmember countriesThe Solar Energy Corporation of Mr Upendra Tripathy, former secretary was the need of the hour even as pressures build India Ltd (SECI) is planning to - MNRE, interim Director General-ISA up to cut back emissions and use of fossil fuel. launch its ofshore arm, SECI Videsh said, “ISA will be soon launching an online to increase demand and expand the platform, titled Infopedia that will provide an he ISA could play a huge role insolar market in the International Solar Alliance e-library with videos and reading material on addressing these challenges and help push for(ISA) countries. the best practices that can be shared across innovative solutions like hybrid plants that can member countries, furthering the platform for address some issues. SECI, which has till now executed 20 GW the countries to engage and act as a mediumof solar through 34 solar projects across 21 to facilitate replication”. Africa, a large part of the ISA geography,states, now plans to expand its operations newer ofers a developing solar market that standsgeographies giving an opportunity to Indian ISA will be an action-based organization, to beneit immensely through the growth ofcompanies as well other investors to invest in focusing on implementation. IT is already technologies and knowledge sharing.new markets. mobilising inance and facilitating transfer of technology particularly by building networks “African countries are emphasizing on Speaking at the recent “India and the ISA, with networks of centres of excellence and the need to enhance quality of products, asaccelerating global solar deployment” conference capacity building. Finance is a major area where substandard products may lood the market andorganized by CII and WWF in the capital, Mr ISA can help in raising low cost and attractive exploit the low disposable income of consumersSanjay Sharma GM (C&P), SECI said that SECI inance and de-risk it, Mr Tripathy said. by ofering cheap products. We need consistentplans to expand internationally by launching this eforts at strengthening the consumer trust innew company. Highlighting some of the challenges in the solar technologies,” said Mr Philip Odhiambo, solar sector, Mr Shyam Saran, former foreign Programme Coordinator, Energy & Climate ISA was founded in 2015 at the sidelines secretary, Govt. of India and trustee, WWF-India Change, WWF-Kenya.of UNFCCC CoP21 at Paris, when Prime said that paucity of land, variability of power andMinister Narendra Modi announced India’s high cost storage are some of the issues that need He further added that solar technologiesresolve to bring together countries between to be addressed to accelerate growth. need to be deployed for productive uses ratherthe Tropic of Cancer and Capricorn to form than just lighting. his will help acceleratea solar alliance that would seek to deploy Solar plants normally requires large parcels deployment. Connecting energy poverty withafordable solar energy applications across 121 of land and that is a challenge for countries their livelihood will be a win-win situation.prospective solar-rich nations. like India or Bangladesh that are densely Success of ISA will depend on how countries will populated. Variability of the intensity of the come together and create a demand for solar.” he growth of solar energy has gained radiation during the day as well as seasonal Echoing a similar though Mr Sidharth Charkhatraction over the last few years across the world also could pose a challenge warranting quicker of Mahindra Susten said, “Solar is increasinglyand India has been no exception. Recent bids solutions in storage. being looked upon to meet the energy needs offor solar projects has fetched power at record the people of Bangladesh and Indian industrylevels of Rs 2,44 a unit, even challenging coal- Ending energy poverty in developing nations can support addressing this demand.”based power projects. In the deliberations on India’s role in scalingup capacities of solar deployment, Mr Ratul Puri,Chairman, Hindustan Power Projects Ltd said,“here have been consistent eforts at de-riskingsolar market by reducing costs and subsequently,one is seeing that solar tarif is 25 per centcheaper than conventional energy.” he role of ISA in expanding the solar storyassumes signiicance in this context as it seeksto enable afordable power for large developingcountries in this geography.58 | Energy Next | June 2017
POWER TWEETSPDF Compressor Free VersionPiyush Goyal @PiyushGoyal . May 29 Piyush Goyal @PiyushGoyal . May 21 Piyush Goyal @PiyushGoyal . May 14The world’s largest LED lighting Central Govt. is set to light up the Assam welcomes UJALA & PAVAN:initiative, UJALA, is a glowing lives of the people of Tamil Nadu by CM @sarbanandsonwal to providerainbow that lights up India’s path distributing 3 cr LED bulbs, under low-cost LED bulbs, tubelights &to development. UJALA. energy eicient fans.Piyush Goyal @PiyushGoyal . May 23 Piyush Goyal @PiyushGoyal . May 12International Solar Alliance Financing afordable Energy:commissions study on Common Launched NTPC’s Masala bondsRisk Mitigation Mechanism to on the London Stock Exchangereduce cost of solar projects. & initiated the new International Securities Market. Piyush Goyal @PiyushGoyal . May 17 India has zoomed past the US to take the 2nd spot on a list of the world’s most attractive renewable energy markets.Piyush Goyal @PiyushGoyal . May 22India Launches Massive Push forClean Power, Lighting, and Carshttp://on.natgeo.com/2q7Rtgi via@NatGeo
CORPORATE BUzz NAuTLraLReemtnroisiitnLtrEoDdbuuclebs Pharox Na“bpPinTintudsrhhoLonhleabatcoodLahrteoeul(vwea4iarmcxrlrre0itteoniiApnWnvpgouulienasomrsa&otcparhehpttesvrhdafe5eRp,aomosen0rceltidmliniecaciWotvltuoordhnlaemavooc.)ntdetal”tiTispmgoermotutcihriosdnoofrleaLiaiessuaftdurEiner.tcnsusiDasaTsieocdapghlfltileoteaaspimfocmpbrienoaeuerscadnel-blelutriliskecnitpgehttarahcuonarratesvdndisntideadeaognniettlothshhssfo(aeeherlunreaoiprcmdhpclciauinsegpiscegs&htininctg PDF Compressor Free Version failure). RSus.z8l3o9ncproosrtessninetFpYr1o7fit of Suzlon recorded an all-time high commissioning, by ssefS“cc1poiiIvnunt7haeceszslgaauGrittlniyiaokasrvWgmlslnesllhaitsfngaaadtgoirgmnskoelreoelbn1aiaeibthv,estns7aeeoieemd7tlrrlolln9edyfmhm.d.eooMeWTraevnyiaWgnaneeelrhnakrstecigetid1annssoi1tn.gnptn”oFooGgltYaerditiWnb1andha7usogieyruieuer,tntratcthpethkIotternioehtondowcreigpioaTatoeciaunntrraobsklfinnsmolcdeiotdrouTepmuyoawmnanenavcncaauneteyrerilrcd.,asotOestahfiviuadert,CmeolaenncstuurfilacNictteyuorgwirnaigdttutnoitssestaunps iMtsYcSoU-fNoundaemres Ashit Maru asbeuexpxseaaMipsnscrasoatYteoepnlMisSsydfnpeusU,Yitcrortha“SssNeeAinhenU.fsadoiithNphsanmutsiedesttnhet’xrasriicdanpsbnaarsitatundoa,penatdgfspgbepdoseoismrp-ucpioiniownnnteuignidtdamhnrmsetuittfcbeserofsehoierdt&gonmrrrnywttmMsCpsi.aieirnrEiCsonicnsOnAofagaitesgnbmchGsaehottogidmtartits-gonhgMt.fertnoaoTeesnagnuchsrstrnsinoucesvniatavdspegrateeleaeriesomoltrayaeoonn.aran”gneautntdilerchi e SimnuChfvinaooasapelbcnwsonnlnlrtiaiietugeashlraoeeindnutfdhnilwryaistdelestnsecoiiifNrsonnnoaaatgfugewlgcruyatSrrohtenoriaremostweaecfthtrraloqaeoyioaftrcuard,typauatchti.,ertgthtieIhMrnoteeeamaelrhateictyssihaeocas,sinattnepnphrrtstctsiaasectuilviisouninwcpethfdytgcratsaiirbegmsnuoasomrgpplsiawaodforaCrmuthywnchplNelaosuyoearConfnerwscauuenmoctwefdrehatcmrauececbepcltrptyliieulohonlaaensrifgnnsnoittnpestielrgaodwesrw,.itAehtr. Adani Green Energy to raise $200 million Adani Group’s renewable energy arm is seeking to raise external equity capital to build a pipeline of projects worth over 2 GW, according to some oicials. “They have been holding talks with various investment banks over the last couple of months for the same. So far, the group has self-funded the renewable business and has invested approximately Rs1,800-1,900 crore (close to $300 million) into the business,” an oicial said.60 | Energy Next | FJuenberu2a0ry172017
Orange RPeDnFeCwoambplereasdsodrsF1r0e0e Version NExTcPhCanlisgtes’sosneLcounridtioens StockMW Capacity to Its Wind marketPortfolio NbSAtaoSTthaopPoenPvnepficcaydCeasikiuuwltrroaahrseEsibnhttatnIxeiSlsecbtetGMlhfshyolofioe,saoMn(rtyinIrtdLnpaaigtohtstlrosreekanuatwreosdd(nnLteoibf)faSnur.oent,EgTrirccol)ahe.ooonyednmaaolNtlIehnaSTenMPdrCutrhlemeisnbaewoswaeoaleakbkbll.aeMosentinndweiseirstgeekyr.Orange Renewable hasrecently partnered withGamesa India to add acapacity of 100 MW to its existing operationalwind portfolio with the commissioning of 40MW in the district of Rajkot, Gujarat and 60 MWin Yadgir, karnataka. Gamesa India has supplied50 turbines (G114 and G97) of 2000 kW to theseprojects. Orange Renewable has added windcapacity of 210 MW to its leet during the inancialyear 2016-17 MW to reach a mark of 567 MW ofoperational wind power.RcaapysaEcxitpyeirnts9a0dddasy3s0MW (MPBVWh)EpsLoocwlaoermrpmphloiastnsoitovonlst3aicsionolCtafDeporerMararpirdonpsscilDnaroajotMeEanisulBarvcPatataWgdehetrsCtnurriwPEsoai,drSnsoLvaNnaooaNltvsahnaplelLaauarraeddlirreamtgsPxiionnPNobaevciutdvrtyncaoepswrhugtpmdafoholtaaaoo,eMwermrsvawcdehbetPoraielesoorvraitdsrciinPvtpemoii.hepoeollnauTanelnlowasingh.ttenflutiaTeeydnst-rmrhnigaaInDen.knr3iidTeddsyihtarhae.binbaacsdusotsigismeorftnipoduarpny RaysExperts has scptuAhooMarM3crmoa1mcoRWc1v0Wjheu,aeeam0iwcxnesy–a%citsisvdmhssafewtsuSitpo9tcuidaohloha9lthxmyaalniic%anclbeteirhtaincejnydouPconaRdfswacbenatisrveelikoyt3eilrdsrtselideab,muriEnrsautcaxiohtEttltopeuehenPpmdeadetCophrtdmtearrissctoendr.,fiospojsAieaantmsrllcidteilyooatptdekchndoraaiioateaeernfiltoradviliipeoteenyesrbssnafoleoeosetiljbnafffepit.oneht3ceIrnnao0tBressnedfiMkMiiitsna3aootWa0sntrrrhetaecsirnash,. dp30TInatdaiaPbouwieldr vSeorltairc,aDleslollar RamayosnPgotwheertIonpfr1a0raEnPkCsCosRrcaUaE–onIycSPncmksAoQCdoePmpinda1aaoant’pn2saiwnndad0mgiueen1CrOresooi7mehcsoInw&wnsbioawtngMfoyiotrmrnaokiatrnI,ghblehPpdtgaheethrPaSwsaostenvtcsophTviodioEeeiebadpdtenPscrhreee,ec1hCehtemor0shennaTumsenaoosEretntaflsSaPsrcodciIahroCdntgkktorlaedeeayeurtdi.rtrnta’trs.h’kasToocfihrvtuovseegemrmchaloalot6lrmhrgg3eere%bomsinwttoeaEtdrhP4k.C6et%, farm TSIaSnoltiaetalDbaerrragsrePvrersnetnielonta-clddaa’snoewseutttidifesinBecvo-tmsIreeeDinntournseaepdtfl-ganilloicpklatatwaiirlnohsouledanasrdriu,ovduo4cel.ccafo5ijartno-nhmfmgisaenuprstembmulutyursspeeoitlptadsfsiriotitno1anrn2avbug,0bi”lc,dilstTteekuhhasWrgueteatdrs.heb“PheIeTnuoenhddiwllpeutieaeiaonn’rslnegSrogylar June 2017 | Energy Next | 61
MNRE NEWSPDF Compressor Free VersionPower Minister promotes indigenous ISA can helpsolar equipment manufacturing achieve universal energy accessWith India betting big on manufacturing of high quality solar target before 2030 renewables, the government equipment.focuses on promoting indigenous Power minister Piyush Goyal “Wind - we are manufacturing in India; talks about the possibilities of hydro equipment is largely indigenous, International Solar Alliance as a and coal based thermal plans are mostly medium to promote energy security indigenous. The missing link in the which can help achieve universal entire valley chain is solar manufacturing energy access target set up in SDGs and the government is very seriously before 2030, at the launch of ‘Scaling looking at ways and means to promote Solar Mini Grids’ by France and Indian manufacture of high quality solar India on the sidelines of 52nd Annual equipments,” power minister Piyush Meeting of the African Development Goyal said. Bank (AfDB) in Ahmedabad. “So, effectively, we will already be 40 He added that Indian renewable percent of our install capacity roughly by energy sector offers lessons such as 2022, coming from its renewable sources. innovative financing models, risk This will significantly up the ante on reduction and setting up large scale availability of low cost power for several solar projects through energy parks. years to come,” he added. Goyal said that Scaling SolarGovernment launches Energy MiniGrids will work as perEicient Buildings Programme ISA’s objectives and existing two programmes, Scaling SolarGGovernment of India launches Energy by Energy Eiciency Services Limited Applications for Agricultural Use and Eicient Buildings Programme (EESL). An MoU was signed with PWD Affordable Finance at Scale launchedto invest Rs 1,000 crore by 2020 under Maharashtra to retroit 1500 buildings on April 22, 2016.buildings programme. Power Minister under PWD in Maharashtra with energyPiyush Goyal launched the Energy Eicient eicient appliances. Under the Energy Comoros Vice President AhmedBuildings programme in a function jointly Eicient Building’s programme EESL Said Hassaini Djaffar welcomed theorganized by FICCI and EESL in Mumbai in intends to bring investment to the tune of ISA initiative in his address and addedthe presence of Maharashtra PWD Minister Rs 1000 crore covering more than 10,000 that Africa is a solar resource richShri Chandrakant Dada Patil. large government/private buildings in next region and can achieve solar energy 2-3 years targets. he scheme will be implemented62 | Energy Next | June 2017
PDF Compressor Free Version MNRE NEWSPower minister announces 1,000 Piyush Goyal setsMW wind energy auction scheme Rs 3 per unit as benchmark pricePower minister Piyush Goyal has install another 1,000 MW wind bidding for power recently announced a scheme for by the end of the month,” he said.auction of wind power projects of 1,000 The government is looking at Rs 3MW capacity that will start soon. “A The scheme is open for all obligated per unit as the benchmark price formajor decision we came up with is to entities purchasing wind power for power from all both conventional and non- compliance of their non-solar Renewable conventional sources in the medium term, Purchase Obligation (RPO). Solar Energy conirms Piyush Goyal said at the annual Corporation of India (SECI) will sign session of the Confederation of Indian Power Purchase Agreements with wind Industry (CII). developers and Power Sale Agreements with buying utilities. Goyal said that policy reforms and resource mobilisation has revived 100GW Another provision of 10 percent of stranded and stressed assets. Power additional capacity for Central Public demand has increased by 6.5 percent last Sector Entities (CPSEs) has been kept iscal. he DDU Gram Jyoti Yojana has under the scheme without participation in reached 75 per cent target to generate the bidding, however, they have to supply electricity 18452 villages. wind power at lowest discovered tariff through bidding process, the statement Energy security noted. key to eliminate poverty in Africa:Wind power has seen steady growth Piyush Goyalin India: Rajeev kapoor, Secy, MNRE Power minister Piyush Goyal recentlyWind energy has experienced a gradual state transfer of renewable energy to deicient launched the third ‘Scaling Up development in the last 7-8 years as states,” he said, adding that his ministry had Minigrids and Microgrids’ programme,the government plans a major ‘green corridor’ held a successful tender for inter-state sale of 1 under International Solar Alliance (ISA)project to transport excess renewable energy GW wind power. at the ongoing annual meetings of Africanto states that need it the most. Development Bank in Gandhinagar. “he next auction of 1 GW for inter-state “In fact, wind has had a faster sale is going to take place very soon. One He encouraged African nationsdevelopment. One may call it steady massive green corridor project is being to participate more actively in thedevelopment over the last 7-8 years. Many planned to ensure that surplus renewable international solar alliance and gainglobal leaders in the ield have set up base in energy is transported to deicient states. he from the partnership of solar energy richIndia,” New and Renewable Energy Secretary National Institute of Wind Energy (NIWE) countries as Africa is rich in solar energy.Rajeev Kapoor told media. has worked with Tamil Nadu government to Arun Jaitley-led inance ministry has develop a wind forecasting model to forecast inalized extending a $10 billion line of “Of course, wind generation is concentrated on a day-in-advance and intra-day basis,” credit at the Indian African summit.only in a few states like Rajasthan, Tamil Nadu, Kapoor conirmed.Karnataka... and it is our aim to facilitate inter- June 2017 | Energy Next | 63
IREDA CORNER PDF Compressor Free VersionIREDA to issue green masala bondI REDA will soon be launching programme under which the Bonds The offering circular for the EMTN its USD 300 mn green masala (which will be denominated in Indian Programme has been filed by on the offshore bonds issue under the Rupees) will be listed/drawn down on SGX-ST/LSE (International SecuritiesEuro Medium Term Notes (EMTN) Singapore (SGX) and/or London (LSE). Market) in May, and the Issue is expected to be successfully completed by the end of June, depending upon the market conditions. This will be the first overseas bonds issue by IREDA. IREDA currently holds international credit rating from two international credit rating agencies, viz., Moody’s and Fitch Ratings which are ‘Baa3’ and ‘BBB’ respectively, and equivalent to the sovereign rating of India. The Bonds Issue have received the green bonds certification from the London- based Climate Bonds Initiative which ensures that the use of proceeds would be in accordance with IREDA’s Green Bonds framework, and thereby, further enhances the Issue’s credibility in the eyes of the global investors’ community. The Issue is expected to be over-subscribed given the high degree of interest globally in the Indian Renewable Energy Sector and IREDA’s dominant position therein.Director(Finance)attendedVienna EnergyForumDirector (Finance) S K Bhargava, SDG 7 ‘ensure access to affordable, in India and use their innovation and visited Vienna as a part of FICCI reliable, sustainable and modern energy ideas in the platform set by Make-in-Indiadelegation led by Power Minister Piyush for all’ and related SDGs. Program of the government to achieveGoyal to participate in the Vienna Energy benefits of scale of operations. ThisForum during May 10-11, 2017. The The minister also interacted during the Investors’ meet was participated by severalprogram aimed at providing a platform Investors’ Meet attracting investors from representatives of various industries.for discussing and highlighting the Austria to set up manufacturing facilityimportance of the linkages betweenclimate and development as well assynergies among the SDGs. The forumtried to explore the role of innovation inopening up new avenues for achieving64 | Energy Next | June 2017
IREDA CORNERPDF Compressor Free VersionCabinet approves raising of bonds of Rs. 2360crores for RET he Union Cabinet chaired by the would result in generation of additional to IREDA to raise “GOI fully serviced Prime Minister Shri Narendra employment. taxable Bonds” on behalf of the MNRE Modi has given its approval to during the FY 2016-17. Out of thisRaising of Bonds of Rs. 2360 crores for The Government had declared allocation, IREDA had raised Rs. 1640Renewable Energy. additional finance mobilization of Rs. crores as per the requirement of MNRE. 31,300 crore bonds through NHAI, PFC, The MNRE subsequently approached the The Bonds will be raised by the Ministry REC, IREDA and IWAI in the budget Cabinet, to approve raising of the balanceof New & Renewable Energy (MNRE) for FYT 2016-17. As a part of this, the Rs. 2360 crores in the year 2016-17.through the Indian Renewable Energy Government had allocated Rs. 4000 croresDevelopment Agency (IREDA) duringthe 2017-18. These funds will be usedby MNRE in the approved programmes/schemes for solar park, green energycorridor, generation-based incentives forwind projects, CPSU and defence solarprojects, viability gap funding for solarprojects, roof-top solar, off-grid/grid-distributed and decentralized renewablepower, investment in corporations andautonomous bodies etc. Such timelyinvestment would boost infrastructure inrenewable sector and facilitate achievementof ambitious targets for the renewableenergy sector. The resources raisedwould be used for developing additionalcapacity in renewable energy sector whichIREDA showcasesachievements ateventsIREDA had the opportunity to showcase its IREDA showcased its CSR activates in the ‘POWER-GEN INDIAN & CENTRAL ASIA achievements, activities and contribution ‘CSR Fair 2017’. he event was held at Pragati 2017’ held on May 17 to 19, 2017 at Pragati in the ield of renewable energy in four Maidan, New Delhi from May 4 to 6, 2017. Maidan, New Delhi.exhibitions during in the month of May. Prime Shri Anant Geete, Union Minister of HeavyMinister Narendra Modi, Chief Minister of Industries & Public Enterprises inaugurated A huge number of people who participatedGujarat Vijay Rupani and Recado Andrews, the CSR Fair. IREDA also participated in in these events visited the IREDA pavilionMinister Counsellor (Economic), South Africa during these exhibitions.visited the IREDA pavilion to be a part ofthe event – ‘Opportunities and Technologiesfor Collaboration’ exhibition held at GandhiNagar Gujarat. he event was held from May22 to 26, 2017. In addition to this IREDA also participatedin ‘Bundelkhand Srajan 2017’ held on May 6and 7 at Tikamgarh, Madhya Pradesh. ChiefMinister of Madhya Pradesh Shri ShivrajSingh Chouhan inaugurated the exhibition. June 2017 | Energy Next | 65
EVENTS PDF Compressor Free VersionJun Solar Power Texas Jun National Jun INDIA SOLAR WEEk ANNUAL 13-14 17-19 Advanced Biofuels 21-22 EVENT Conference & Texas is one of the hottest new Expo Holiday Inn, he conference program brings markets in solar, and Solar Aerocity, New Delhi together technology leaders,Sheraton Austin Hotel Power Texas, is an opportunity Minneapolis, MN, Produced by BBI project developers, industry at the Capitol, to get in at the ground level. United States International, this national advisories, inancial experts, Austin, TX he event provides an intimate event will feature the world government representatives, atmosphere to learn about the of advanced biofuels and bio- policy makers and biggest challenges impacting based chemicals—technology entrepreneurs to debate the key Texas market and start making scale-up, project inance, challenges and opportunities powerful connections. policy, national markets and in construction, engineering, more—with a core focus on technology and commercial the industrial, petroleum space. and agribusiness alliances deining the national advanced biofuels industry. www.sepapower.org advancedbiofuelsconference.com solarquarter.comOJucnt Solar PV 23-25Jun NREC SUMMIT 27-30Jun hydroVision ModuleTech India 2017 International 21 2017 Bengaluru, India NREC Summit will see Colorado HydroVision International Holiday Inn New This event will discuss participation of governments Convention Centre, highlights perspectives on Delhi International various market trends, oicials, national and the role of hydropower, drivers, and challenges international organizations; Denver, Colorado explores issues afecting Airport with respect to the global global RE consultants; USA hydro resources, and helps photovoltaics market and solution providers, research participants develop a vision to its impact on India. The scholars and subject matter meet challenges and ensure the event will also focus on experts. he Summit will be future sustainability of hydro. forecasts the market till solutions oriented, address Hundreds of professionals, 2020, based on components, concerns of the relevant 3000+ attendees, 320+ types, applications, and parties. exhibiting companies will geography. participate from around the world solarquarter.com solarquarter.com www.hydroevent.com 11-13Jul International Renewable 17-20Jul International Energy and Environment Conference on Energy Conference and Environment ResearchJULY 2017 Hotel Royal, Kuala he conference, organized by science he event will focus on state-of-art Lumpur, Malaysia conferences international will cover technologies pertaining to Energy and areas like energy from biomass; Environment Research and applications green energy technology; economic Porto, Portugal of Energy and Environment Research modelling of energy technologies; role, to domains like astronomy, biology, potential and impact of renewable education, geosciences, security and energy and eicient use of alternative healthcare. It is a technical congregation systems, integrated or hybrid cleaner where the latest theoretical and renewable energy systems besides technological advances will be presented many other related topics. and discussed. warponline.org [email protected] | Energy Next | June 2017
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