thirteenth edition beyond sustainability - ernst & young sustainability india cleantech review...

Beyond sustainabilityIndia cleantech review

In this edition

In conversation with Rajsekhar Budhavarapu CTO- Renewable Investments, IL&FS Energy 2

Enabling project monitoring and reporting through mobile technology 4 Quarterly review 6

References 18

Dear readers,

India seems to have moved rapidly from being a negative zone to a more favourable one with an optimistic outlook, all in the span of the last few weeks. The new Government has set infrastructure as its top priority, and by merging the Power (conventional and renewable) and Coal Ministries, it seems to have made a definitive start. Being part of the mainframe, specifically augurs well for the renewable energy sector. The new Prime Minister, Mr Narendra Modi, has a proven track record in the power sector and is a strong proponent of renewable energy. The new Power Minister,

Mr Piyush Goyal too has long been an advocate of achievement of rural outreach through solar power. The next 6–12 months may well define India’s place under the sun.

On the heels of the election results, the Directorate General of Antidumping and Allied Duties (DGAD)’s recommendation to levy Antidumping Tax on suppliers of solar cells and modules across the US, China, Malaysia and Taiwan has jolted the solar developers. While the levy will only come into force if the recommendations are accepted by the Finance Ministry, records indicate that only in exceptional cases has the recommendation not been accepted.

In this edition, we are pleased to present the views of Rajsekhar Budhavarapu, CTO – Renewable Investments, IL&FS Energy, a strong proponent of introduction of new technologies in India. We have also included an article from my colleague Avishek Banerjee on a new EY IT-enabled project- monitoring solution called RePORT, which has been successfully tested in the real estate and insurance space. I expect it to gain prominence in the renewable sector as well.

Like always, it would be a pleasure to receive your feedback.

Kind regards,

Sanjay Chakrabarti Partner & Cleantech Sector Leader

Thirteenth editionJune 2014

2 | Beyond sustainability — quarterly review

Q1. What are some of the things you feel have worked or not worked for IL&FS doing business in India, considering you were among the first few players to enter the Indian market?

From the outset, we knew that renewable energy is a long-term operating asset play and that returns would only come from serious and continuous commitment. Going beyond the two conventional routes (turnkey and developer) to enter the market, we adopted a hybrid approach. We realized that the turnkey model did not give us control, either on the quality or the timelines of projects. Our hybrid model enabled us to maintain our desired standards of quality and also kept us on track in our quest of achieving our goal of 1000 MW in four years. We only implemented technologies and products that had an excellent operational track record of providing high yields.

We are happy with our progress, although, in hindsight, I can say that we had not actually anticipated the surprise awaiting us in the REC market.

Q2: What is the role of technology in the Independent Power Producer (IPP) business and how do you think it can be a game changer?

In spite of having one of the largest wind turbine production capacities in the world, it is a pity that India lacks the required capabilities for certification of wind turbines. We, as a nation, are still dependent on external sources for dynamic testing of turbine blades and accreditation of turbines by European and American certifying agencies. Additionally, our grid code guidelines for integration of wind power are not well-formulated. Grid codes need to incorporate LVRT models, which help wind farms operate during voltage fluctuations and improve their efficiency.

At present, C-WET is the only organisation that serves as the technical focal point for development of wind power in India. The establishment of more such institutions, possibly by the private sector, is the need of the hour to facilitate technological advancement in the country. Such enabling facilities will reduce the cost per kilowatt-hour, since they will increase the applicability of the right technical know-how in design and correct the operations of poorly performing wind farms. There is currently no organisation (independent of the wind turbine industry) that can consistently and systematically cater to all the technical needs (including design, refurbishment or damage repair) of the industry across the full life-cycle of wind turbines.

In conversation with Rajsekhar BudhavarapuCTO- Renewable Investments, IL&FS Energy

Q3: Re-powering has not taken off in India. What can be done differently?

Re-powering has great potential in India and must be the next big thing, and IL&FS is keen to be a pioneer in this market. However, the segment presents several challenges for power producers. Firstly, land rights for new installations on existent wind farms need to be reworked. Secondly, utility-related barriers are encountered when power evacuation approvals require to be reformulated. Thirdly, upgrading of existing wind plants requires an increase in the prices of power generators. However, utilities do not generally agree to alter power purchase agreements (PPAs) on which they had previously agreed.

Q4: What is the quality of O&M services in India and what can be done to improve them?

O&M services are at high risk due to our dependence on manufacturers for servicing of equipment manufactured by them. A common problem is discontinuation of certain models and components by manufacturers while these are still in use. This makes upkeep of equipment difficult.

Our O&M services industry needs to become more independent in order to enable easy maintenance of wind farms. To achieve this, we should promote local service providers and provide them with the requisite facilities and training. This can be seeded and developed, supported by the National Clean Energy Fund (NCEF) and Ministry of New and Renewable Energy (MNRE), to develop cluster-based skills at all the seven wind states in India in order to achieve high standards and quality through capacity- building and creation of facilities. Our aim should be to replicate practices followed in the auto sector, which has a robust underlying services industry, which enables inexpensive and quick rectification of O&M-related issues.

3Beyond sustainability — quarterly review |

Q5: What are your thoughts on the progress of the solar sector in India?

The scope of solar energy is great. However, I feel we need to be cautious while investing in the sector. The competitive bidding approach adopted by the MNRE is not healthy for the industry. Moreover, although the cost of solar power has come down, efficiency levels continue to be low in the segment, so much so that even our production capacity is insufficient to service the domestic content requirement (DCR) of phase-II of JNNSM. This will inevitably result in increased prices. Moreover, the industry is not yet stable, since it has minimal entry barriers and lax quality standards. The establishment of the solar PV market in the country implies that the future of this sector now depends on the establishment of an enabling policy environment in which full-scale manufacturing capabilities can be developed in the country — right from polysilicon to wafers and from cells to modules.

Contrary to the prevalent practice of establishing solar farms on large tracts of land, a better approach would be to use solar energy for distributed generation. This is the best use of solar PV. In addition, the Government should focus on Concentrated Solar Power (CSP) technology to meet base load requirements in the country in the long run.


Enabling project monitoring and reporting through mobile technology

Concerns of developers Cleantech projects in the wind and solar power segments pose unique project management-related challenges, since they are capital-intensive and geographically dispersed, with various local stakeholders in their project value chains. Developers are always concerned about the progress of project schedules, integration of various supply chain components with actual progress, scope changes and timely delivery. Moreover, management’s bandwidth is strained to effectively manage approvals of sites and overall scope controls. This leads to a scenario in which a project is dependent on an individual, with multiple versions of the “truth.” The actual progress of various components of projects against their planned progress is not tracked in an integrated manner with clear alignment of inter-dependencies.

Different approach to project monitoring Our approach to project monitoring is based on a robust project management office (PMO) framework and has been designed to achieve:

• ► Effective and timely monitoring of projects in an integrated and transparent manner across locations and stakeholders in the project value chain

• ► The health of projects being checked at any given point across components for corrective action in a timely manner

• ► Project monitoring of “business as usual,” making this the way things are done, and it not being a matter of choice or people-dependent

• ► Putting in place simple, adequate and efficient mechanisms to ensure control and monitoring of progress, risks, delays as well as the impact and escalation of issues

Enabling project-monitoring and reporting Currently, project monitoring practices are largely focused on monitoring construction and project updates are provided “on demand.” The frequency of updates varies due to geographic remoteness or the quality of people, technologies and processes within an organization. These issues affect the overall decision-making time as well as the quality of intervention the management can bring into the overall project environment. More often than not, management is faced with the need to take “urgent” decisions on budget increases, scope changes and delayed risks, with very few red flags being raised. Furthermore, project-monitoring frameworks presently depend on “static imagery and delayed, accounting-based cost assessment,” which leads to opaque/delayed information on what is actually happening on site at a given point in time against what was planned.

We have innovated a mobile-enabled application, which is designed to enable real time and transparent monitoring of work progress against schedules and costs, in order to address the concerns of developers and provide them with a robust monitoring framework. The application is user-based and role-driven. It ensures restricted access and focused accountability, is designed to capture the delay logs of tasks/contractors/project managers, along with oversight controls over billing and quality control. The application is supported by a web-based MIS dashboard, which can be hosted on a client or Cloud server. The RepORT application also enables direct access to sites and contractors through chats, alerts and reminders within the application to remind them of milestones/ alert on delays (compared to communication via SMS or email).


How does Report work?

Report is designed as an easy to use application and reduces the need for subsequent training when new projects are added to a company’s portfolio. Its interface and MIS dashboards are easily customizable and are based on the requirement of project owners for projects with multiple and diverse components. It is designed to be managed from the backend through a PMO operations framework, which will ensure data integrity, quality, performance and risk reporting, verify information captured from the sites and enable schedule and cost updates on an almost real time basis.

Report encompasses functionalities such as timing and geo-tagging of photographs (which are to be used as supporting evidence on construction/project activity progress updates). Schedule updates and micro-schedule additions can be tracked through login IDs, providing accountability and ownership of progress reporting.

It can also capture data comprehensively and report a clean tech project’s functionality against planned progress measures (time and cost) for a non-construction component; e.g., development of designs, awarding of contracts, supply chains and logistics, and off-site fabrications. RePORT uses Microsoft projects as the scheduling tool through which all WBS elements are scheduled in a project’s project lifecycle, and are then programmed on .NET to enable mobility on hand-held devices. The application is easy to distribute (through emails), and requires very little drive space on actual hand-held mobiles.

Currently, it is only being designed for Android OS and back-end MIS and dashboard reporting is through a web server, which can be accessed through a simple URL.

To summariseProject governance and control of renewable power projects, which typically tend to be dependent on individuals and are unstructured or standardised, are about to witness innovation. The PMO of one project or a portfolio of many projects is likely to be something in whch management would find value. In this scenario, developers will definitely need enabling tools and technology to support coordinated and integrated project monitoring and reporting. RePORT is one such enabling tool that uses technology to empower project owners and other stakeholders with information that enables proactive assessment of progress made and delivery-related risks.

Avishek Banerjee Associate Director Ernst & Young LLP


Quarterly review

Domestic cleantech/utility players1

Investment–related announcements

Company Key business activity

Investment plans Amount (INR billion)

Investment horizon

SolarBharat Heavy Electricals Ltd. (BHEL)

Power plant equipment manufacturer

To set up a solar silicon cell- manufacturing facility in Rajasthan

30.0 NA

Hindustan Power Projects Private Ltd.

Renewable IPP/ project developer

To set up solar farms aggregating 165 MW in Punjab, a 50 MW solar park in Odisha and a 20 MW plant in Uttar Pradesh

20.0 2014-15

Welspun Energy Renewable IPP To set up a 160 MW of solar capacity in Punjab

10.0 NA

Rays Power Infra Pvt Ltd.

Solar EPC provider To set up a 25 MW solar park near Hyderabad in Andhra Pradesh

NA 2014-15

CESC Ltd. Power utility To set up a 10.6 MW solar plant in Tamil Nadu

1.0 2014

WindContinuum Wind Energy

Renewable IPP To set up wind farms with a combined capacity of 170 MW in Madhya Pradesh

11.9 NA

National Hydropower Corporation Ltd. (NHPC)

IPP To set up a 82 MW wind farm in Kerala’s Palakkad district as part of its diversification program

5.0 NA

WaterVA Tech Wabag Water and waste

water management To design and construct a 90 million litre per day (MLD) waste water treatment plant near Bangalore for Bangalore Water Supply and Sewerage Board (BWSSB)

2.5 NA

Waste-to-energy

Nobel Exchange Environment Solutions (NEES)

Waste management To set up a waste-to-energy plant in Bangalore

0.6 2015


Other updates2

SolarJakson Group targets INR6 billion in revenue from solar projects in FY 2017: The Jakson Group, one of India’s leading power solution companies, is looking to increase the revenue share of its solar business. The company is targeting revenue of INR6 billion by March 2017 through expansion of its solar IPP, mobile and containerized solar gensets and EPC portfolio. It also plans to increase its solar business in overseas markets, primarily in the Middle East and Africa.

Source: The Times of India, 12 March 2014

Welspun commissions 130 MW solar power plant in Madhya Pradesh: Welspun Solar Madhya Pradesh Pvt. Ltd., a subsidiary of the Welspun group, has commissioned a 130 MW solar power project at Neemuch in Madhya Pradesh. The plant was set up with an investment of INR11 billion.

Source: The Hindu, 26 February 2014

Indosolar seeks second round of debt restructuring: Indosolar, the largest solar cell manufacturer by capacity in India, has requested lenders to restructure its debt for the second time on grounds that the continuing low selling price of solar cells is harming its bottom line. The company’s creditors reorganised its INR3.6 billion debt for the first time in January 2012.

Source: Metis Energy Insider, 8 March 2014

NTPC increases solar power capacity to 75 MW: National Thermal Power Corporation (NTPC) has more than doubled its solar capacity to 75 MW by beginning commercial operations at its three new 45 MW-capacity solar plants. The plants are located at Faridabad in Haryana, Unchahar in Uttar Pradesh and Rajgarh in Madhya Pradesh.

Source: Bloomberg BusinessWeek, 31 March 2014

WindCLP Wind Farms to raise INR12 billion from PE investers: CLP Wind Farms, India’s largest wind- utility firm, seeks to raise INR12 billion by selling a minority stake to global private equity (PE) investors. The company plans to utilize the funds to expand its wind portfolio. It currently has an installed capacity of 1,000 MW of wind power in India.

Source: The Economic Times, 21 February 2014

Jath Wind Energy secures financing of INR2.79 billion for wind power plant: Jath Wind Energy Pvt. Ltd., a special purpose vehicle (SPV) and a subsidiary of NSL Power Limited, has secured project financing worth INR2.79 billion to construct and develop a 40 MW wind power plant at Vaspet in Maharashtra. International Finance Corporation (IFC) will provide it with up to INR0.97 billion of the total finance for the project. The remaining amount will be arranged from other Indian lenders by the sponsor.

Source: GlobalData Financial Deals Tracker, 16 December 2013

Orient Green Power’s generation capacity crosses 500 MW: Orient Green Power, which is part of the Shriram Group, has reached a generation capacity of 502 MW with 416 MW of wind assets and 86 MW of biomass assets. The company, which recently commissioned biomass plants in Madhya Pradesh, Rajasthan and Andhra Pradesh, is keenly evaluating opportunities for further growth in the country.

Source: The Economic Times, 27 January 2014

Suzlon expediting efforts to raise cash and cut debt: Suzlon Energy has secured INR72.7 billion as a three-year credit line for its German unit, Hamburg-based Senvion SE (previously Repower), from Bayerische Landesbank, Commerzbank and Deutsche Bank. The wind turbine manufacturer is also planning to sell its shares in Senvion SE to raise INR100 billion by listing it on the London Stock Exchange (LSE). Suzlon, which has a debt of INR169.6 billion on its balance sheet, plans to merge its Indian wind and services business with Senvion. The merger, which is expected to cost REpower INR62 billion, will help Suzlon pay off its debt and come out of the corporate debt restructuring process. Suzlon’s other recent efforts to raise cash include the sale of its Big Sky wind farm to EverPower Wind Holdings Inc. for INR5.5 billion.

Powerica to purchase 51.8 MW wind turbines from Vestas: Powerica Ltd., a Mumbai-based power generation company, has signed a contract with Danish wind turbine manufacturer Vestas to deliver, install and commission wind turbines with 51.8 MW capacity. The orders are for its Jangi and Charbara projects in Gujarat.

Source: ENP Newswire, 3 January 2014

Tata Power concludes acquisition of a 39.2 MW wind farm in Gujarat: Tata Power Renewable Energy, Tata Power’s green energy arm, has completed its acquisition of US-based AES Corporation’s Indian subsidiary AES Saurashtra Windfarms. Tata Power owns and operates a 39.2 MW wind energy farm in Gujarat.



SEBI seeks clarification on Inox Wind’s INR7 billion IPO: Market regulator Securities and Exchange Board of India (SEBI) has sought clarification from Inox Wind regarding the power solutions provider’s proposed INR7 billion initial public offer (IPO). SEBI had earlier sought clarification from Inox Wind’s lead manager, Axis Capital Ltd., in August 2013.


Infuse Venture secures commitment of INR1.1 billion for cleantech start-ups: Indian Institute of Management — Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship (CIIE) has received commitments of more than INR1.1 billion for its cleantech-focused fund, Infuse Ventures. The fund had its initial closing in May 2013 with committed support from global energy major BP, IFC, MNRE and the Technology Development Board (TDB). Other partners, including Godrej Industries, ICICI Bank, SIDBI, Bank of India and Union Bank, have joined it over the past one year. Infuse Ventures plans to initially support four start-ups in the cleantech segment.

Source: Business Line (The Hindu), 20 March 2014

Other Indian companies

Announcements about investments3 Company Key business

activityInvestment plans Amount

(INR billion)Investment horizon

ACC Ltd. Cement manufacturer To build a waste-heat recovery system at its cement plants in Wadi (Karnataka), Jamul (Chhattisgarh), Kymore (Madhya Pradesh) and Chanda (Maharashtra)

3.6 2017-18

Hindustan Coca cola Beverages (HCB) Pvt. Ltd.

Consumer goods To fund a 1 MLD sewage- treatment plant at Mahim Causeway as a part of its social corporate responsibility (CSR) initiative

NA 2014

Ford India Pvt. Ltd. Automobile manufacturer

To set up a 8 MLD effluent- treatment plant and a 4.5 MLD wastewater-treatment plant at its new vehicle- and engine-assembly plant at Ahmedabad in Gujarat

NA NA


Other updates4

SolarSu-Kam partners with Shriram City Union Finance on solar financing: Su—Kam Power Systems, the power back-up solutions provider, has entered a partnership with non-banking finance company (NBFC) Shriram City Union Finance to finance residential solar installations. The company has launched easy finance schemes for residential customers in Tamil Nadu and Uttar Pradesh.

Source: The Hindu Business Line, 19 February 2014

Energy efficiency

Corporate initiativesCII’s GreenCo Rating eyes 100 companies: The GreenCo Rating System, an initiative of the CII Green Building Centre, which was launched in 2013, plans to bring around 100 companies under its programme by the end of 2015. The rating system assesses the “greenness” of companies and advises them on how they can become greener. Currently, 14 out of the 37 registered companies have been GreenCo rated.


Bangalore MNCs collaborate on solar power project: Four Bangalore multinational companies (MNCs), Infosys, Cognizant, Coke and Philips, as well as the Bangalore International Exhibition Centre, are collaborating on setting up an aggregate solar power project, which is being launched by the World Resources Institute under its Green Power Market Development Group. The project requires the companies to install and use roof-top solar panels for their daily power consumption.

Source: The Times of India, 27 February 2014

Oil firms to set up SPVs for renewable power projects: Oil and Natural Gas Corporation (ONGC), Oil India Ltd. (OIL), Gas Authority of India Ltd. (GAIL), Engineers India Ltd. (EIL), Solar Energy Corporation of India (SECI) and the Indian Renewable Energy Development Agency (IREDA) have agreed to set up a special purpose vehicle (SPV) to establish grid-connected renewable energy projects in the country. A second SPV, to be formed by Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation Ltd. (HPCL), SECI and IREDA will set up off-grid projects using advanced technologies. The SPVs will function independently and utilize various promotional schemes of MNRE and state governments for the purpose.


Vodafone India moves 265 towers to green technology in FY13: Vodafone India, India’s second-largest telecom operator, moved 265 network towers to green technology in FY2012–13, taking their number to 2,700 out of a total of 115,268 towers. Telecom regulator Telecom Regulatory Authority of India’s (TRAI’s) recommendation, which was accepted by the Government, requires telecom companies to move 50% of their mobile towers to rural areas and 33% in urban centres to renewable energy by 2015.

Source: The Business Standard, 16 January 2014


Foreign participation5

Major tie-ups

Foreign player Domestic player Type of partnership/agreementDow Chemical Pacific Pte Ltd. Voltas Ltd. To invest in the growing water- and wastewater treatment

market and distribute packaged water and waste water treatment systems to residential and commercial complexes and industrial markets in India

Algae.Tec Ltd. Reliance Industries Ltd. To build a pilot production facility of algae oils in Gujarat

Simon Fraser University (SFU) IOC To collaborate on hydrogen and fuel cell technology research

Lhotellier Ikos Mailhem Engineers To establish large-scale (up-to 500 tonnes) biogas plants for waste management

Other updates6

SolarBORG Energy India to set up assembly plant in India: BORG Energy India, a subsidiary of US-based BORG Inc., is planning to set up a solar equipment-assembly plant in India, which will cater to the domestic and African markets. The company is considering two sites in Haryana and Andhra Pradesh to set up the plant. The budget for the facility was to be finalized at the beginning of FY14.

Source: The Economic Times, 1 March 2014

Solea AG and Heidelberg Solar form JV to develop solar power projects producing 200 MW of solar power: Solea AG, the German PV manufacturer, and Heidelberg Solar, a subsidiary of the Germany-based Pinpoint Ventures Holding Group, have formed a strategic partnership to enter the Indian market. The companies plan to develop solar power projects producing 200 MW of solar energy in India by 2017. They have already signed a PPA with Bangalore Electricity Supply Company (BESCOM) for a 5 MW project.

Source: Mena Report, 11 February 2014

SunEdison sets up R&D facility in Bangalore: SunEdison LLC, leading solar technology manufacturer and solar energy services provider, has set up an R&D facility in Bangalore in collaboration with the Global Academy of Technology (GAT) at Bangalore and will work to improve technology for solar water pumps, energy storage solutions, hybrid energy systems, and solar power plant monitoring and mounting structures.

Source: PR Newswire, 3 March 2014

SunEdison drops 20 MW solar project: SunEdison has decided to drop its plan to build the 20 MW project it won in the phase II auction of the National Solar Mission (NSM) in February 2014. The company has concerns that local cell-makers will not be able to meet the demand for equipment in time. However, the company still plans to build a separate 30 MW project it won at the auction.

Source: Bloomberg New Energy Finance, 7 April 2014

WindGamesa to supply wind turbines with 100 MW generation capacity to Greenko: Gamesa Wind Turbines Pvt. Ltd., the Indian subsidiary of Gamesa in Spain, has secured an order for supply of 100 MW capacity wind turbines from independent power producer Greenko. The order is part of a business agreement that Gamesa has with Greenko for supply of 300 MW capacity wind turbines for the power producer’s various wind farms in the country.

Source: The Hindu, 28 April 2014

BiodieselAemetis commissions 189 MLPA biodiesel distillation plant: Aemetis, Inc., a California-based advanced fuel and renewable chemicals company, has commissioned a 189 million litre per annum (MLPA) distilled biodiesel unit at Kakinada in Andhra Pradesh. The Aemetis plant is the only distilled biodiesel producer in India that is capable of producing large quantities of biodiesel, which meet the European Union’s ISCC standards.

Source: Business Newswire, 4 February 2014


Investments including VC/PE

Announcements of investments7

Investor company/ Key business activity

Investment plans Amount (INR billion)

Investment horizon

Sarus Solar Inc. None 61.3 Equity To set up a 500 MW solar park and a PV panel-production facility in Odisha

Fortum Oyj None 21.0 Equity To fund solar acquisitions and set up new projects in India

European Investment Bank (EIB)

IREDA 17.6 Debt To finance renewable energy and energy- efficiency projects in India

Satarem AG None 3.0 Equity To build a 14.5 MW waste-to-energy facility at Nelamangala in Bengaluru

Borg Energy None 2.8 Equity To invest in a rural electrification scheme and solar EPC projects in Rajasthan, Haryana and Andhra Pradesh (The company also plans to set up an R&D plant in India in the future.)

General Electric None 1.45 Equity To fund Welspun Energy’s 151 MW solar power plant at Neemuch in Madhya Pradesh as part of the two companies’ plan to partner in expanding solar energy generation in the country

EAS consultants None 0.5 Equity To set up a 3 MW waste-to-power plant at Ponda in Goa

KfW National Thermal Power Corporation (NTPC)

0.4 Debt To set up a solar thermal and photovoltaic lab at NTPC Energy Technology Research Alliance (NETRA)

United States Agency for International Aid (USAID)

Orb Energy 0.2 Debt To set up clean energy plants in Karnataka, Tamil Nadu, Kerala and Maharashtra by 2016

Toshiba Mitsubishi-Electric Industrial Systems (TMEIC)

AEG Power Solutions Pvt. Ltd.

NA Equity To expand in the Indian solar inverter market


Other updates8

World Bank to incentivize energy efficiency with INR2.5 billion investment: The World Bank is planning to invest INR2.5 billion in addition to an investment of around INR1 billion made by the Government of India to incentivize manufacturers of energy-efficient electrical appliances. The initiative, called the Bureau of Energy Efficiency’s (BEE) Super-Efficient Equipment Program (SEEP), plans to give manufacturers a sum of money per unit of appliance sold.

Source: The Hindu, 7 January 2014

GWEC to give INR338 million grant for development of off-shore wind energy: The Global Wind Energy Council (GWEC) will provide a grant of INR338 million from the European Union’s Indo-European Cooperation on Renewable Energy Program for development of offshore wind energy in India. GWEC has identified Gujarat and Tamil Nadu for development of offshore wind projects. It will also work with the MNRE to prepare a road map for development of offshore wind energy in the country.

Source: The Hindu Business line, 27 January 2014

IBC Solar to build first MW scale plant in India: IBC Solar, the Germany based photovoltaic specialist, is building a 5.5 MW solar plant at Bhadla in Rajasthan. This is the company’s first MW-scale PV plant in India as an EPC contractor (in collaboration with its local subsidiary). IBC has already built five projects with a total capacity of 18 MW in India.

Source: PV Magazine, 15 April 2014

Sectoral update9

SolarGrid-connected solar capacity reaches 2.6 GW: Total grid-connected solar capacity, commissioned under the Jawaharlal Nehru National Solar Mission (JNNSM), reached 2,632 MW on 31 March 2014. According to the MNRE, a total capacity of 947 MW was commissioned during fiscal 2013–14. Madhya Pradesh added the highest capacity (of 310 MW) in the country during the year.

State policy-driven projects contributed the highest (1,322 MW) to the total commissioned capacity, followed by MNRE projects (688 MW), the REC Scheme (491 MW) and the rest of the 131 MW was contributed by renewable purchase obligation (RPO), private sector rooftop and central government organizations.

Source: The Hindu, 5 April 2014

SEI, Azure Power and ACME win maximum capacity in Phase-II auction: SEI, Azure Power India and ACME have bagged most of the solar projects under the first Phase-II batch of JNNSM. While SEI and Azure Power each won 100 MW of the auctioned capacity, ACME secured nearly 80 MW of new projects. Tata Power Renewable Energy (35 MW), IL&FS Energy Development (40 MW), Solairedirect Energy India (30 MW), Gujarat Power Corporation (10 MW), Hero Solar Energy (20 MW) and Today Homes and Infrastructure (40 MW) are the other companies that were allotted capacities.

The Government has signed PPAs with companies producing 700 MW of capacity awarded in the national auction. The agreements, which lock in rates for power generated for 25 years, bind developers to complete the plants within 13 months.


Source: Bloomberg New Energy Finance, 16 April 2014

India and the US in talks over trade dispute; India claims compliance with the World Trade Organization’s (WTO’s) norms: India has firmly countered the US’ challenge relating to its solar export restrictions and claimed that JNNSM is fully compliant with WTO’s norms. While raising significant concerns over import of thin-film technology from the US, the Indian Government also pointed to the US providing export credits to some of its solar products and the US’ prevalent preferential treatment for purchase of power produced from US-made solar products in 13 US states.

In the latest development, the two countries could not reach an understanding in a formal consultation held at the WTO in the last week of March 2013. The US has not yet disclosed whether it will ask the WTO to set up a dispute-settlement panel for a full-fledged dispute with India on the issue.

Source: The Times of India, 11 February 2014


SECI to invest INR100 billion for a 1000 MW solar park: SECI is going to set up a 1000 MW solar PV power generation park at Mahboobnagar in Andhra Pradesh. Japan International Cooperation Agency (JICA) will finance initial development at the proposed site. A total investment of INR100 billion will be required for the plant, which is expected to begin operations in 2016.

Source: The Hindu Business Line, 28 February 2014


SECI secures electricity trading licence: SECI has secured the “Category III” inter-state power trading licence from the Central Electricity Regulatory Commission (CERC). SECI can now trade solar power on the exchange and also sell it as a trading licensee. SECI was awarded the licence because it met the criterion of having a net worth of INR50 million among other criteria.

Source: The Business Standard, 3 April 2014

Government to install solar water pumps and save INR374 billion per year: The Government of India is planning to replace 26 million groundwater pumps for more efficient irrigation models powered by solar energy. The project is expected to save around INR374 billion a year in power and diesel subsidies. Under the plan, the Government plans to invest INR100 billion from 2014 to 2019 when the first 200,000 most easily replaceable pumps are changed to solar energy-powered ones. Companies including BlackRock Inc., Jain Irrigation Systems Ltd., Claro Energy Pvt. Ltd. and the Tata Group’s solar unit are targeting this market.

Source: Bloomberg New Energy Finance, 7 February 2014

Government reviews subsidy plan for off-grid solar applications: The Government is reviewing the off-grid solar applications subsidy scheme after its dues to solar equipment-makers swelled to INR10 billion due to an unanticipated rise in the demand for solar equipment. It is covering 30% of the price of the product under its current subsidy scheme. The MNRE is redesigning the subsidy- disbursement format, benchmarking the performance of off grid-products and introducing an efficient monitoring system to make the program more effective.

Source: The Economic Times, 10 March 2013

Possibility of Government introducing separate policy to help PSUs in solar sector: The MNRE is planning a separate scheme or policy to help public sector units (PSUs) to invest in solar energy. This decision was taken to cater to the increased interest among PSUs to set up renewable energy projects. Given the strong balance sheets and cash adequacy of most PSUs, the Government expects them to set up large-capacity plants. Six PSUs — BHEL, SECI, Sambhar Salt Ltd. (SSL), Power Grid Corporation of India (PGCIL), Satluj Jal Vidyut Nigam (SJVNL) and Rajasthan Electronics & Instruments Limited (REIL) — have already announced a 4,000 MW project in Rajasthan.

Source: The Times of India, 25 March 2014

Government to award 1 GW solar permits by 2015: The Government is planning to award licenses for an additional 1 GW solar power plants in 2015. This is around 30% more than originally targeted and equivalent to around half the capacity built so far. However, in its December 2012 policy document, the Government indicated that it will only set up 100 MW of solar-thermal capacity during this period, down from the 1,080 MW planned by it.

Source: Bloomberg News, 2 April 2014

WindIndia adds 2,126 MW of wind capacity in FY14: The cumulative wind capacity added in India in FY2013–14 was 2,126 MW. Around 800 MW of capacity was added in March 2014. The main reason for this jump in capacity addition was implementation of the generation-based incentive (GBI) from December 2013. Between December 2013 and March 2014, the Government disbursed around ►INR3 billion through the GBI scheme.

Source: The Hindu Business Line, 5 April 2014

CERC suspends penalties on wind farms for unfavourable forecasts: The Central Electricity Regulatory Commission (CERC) has temporarily suspended the rule that requires wind farms to predict their day-ahead generation within a 30% band, since the regulator is reconsidering the best way of ensuring the stability of the grid.

Source: Bloomberg News, 7 March 2014

First national wind energy mission to be launched by mid-2014: The Government of India will launch the National Wind Energy Mission (NWEM) by mid-2014 to boost wind power development in the country and bring it at par with the NSM. The wind mission will give incentives to investments in wind energy, speed up land clearances and regulate tariffs. However, unlike its flagship NSM, it will not put up projects for bidding, but will act as a facilitator.

Source: The Economic Times, 8 January 2014

Electric vehiclesGovernment planning subsidies for electric/hybrid vehicles: The Government is planning to provide subsidies ranging from INR8,000 up to INR1.2 million for electric/hybrid cars (XeVs) and two-wheelers. It plans to create a manufacturing and research base for vehicles running on alternative/eco-friendly fuels through such subsidies.

Source: The Financial Express, 18 April 2014


Financing and investmentMNRE to infuse INR50 billion in IREDA: The MNRE proposes to raise the IREDA’s authorized share from INR10 billion at present to INR60 billion to utilize India’s green energy capacity. The proposal envisages the government pumping in INR25 billion, while the remaining funds will be raised through rights issues and IPOs of the IREDA’s shares. The Government’s funding will be concurrent with the IPO and rights issue. The IREDA plans to provide loans for around 4,800 MW renewable energy projects during the 2012–2017 plan period.

Source: The Times of India, 24 January 2014

Japan to provide INR18 billion as part of second phase of financing in India’s power sector: The Government of Japan has agreed to extend an official development assistance (ODA) loan of INR18 billion to power producers in India to develop new and renewable energy phase II projects, including solar and wind power projects. This is part of the total INR150 million loan agreed on by the two countries to set up five renewable energy and mass transportation projects in India.

Source: Business Today, 1 April 2014

RECREC market records highest ever trading in March 2014; falls to seven-month low in April 2014: The renewable energy certificates (RECs) trading in March 2014 saw the market surpass all figures since its inception. The session featured trade of 361,842 non-solar and 7,211 solar RECs, registering a 100% growth over the 183,923 RECs traded in February 2014. Buy bids, however, constituted a minimal fraction of sell bids, resulting in continued trading at floor prices. In April 2014, the demand for clean energy credits fell to a seven-month low, since companies that have until 2015 to comply with renewable targets did not participate in large numbers in the last trading session.

Smart gridNational smart grid mission: The Government is planning to launch a national smart grid mission, which will enable it to monitor implementation of policies and programs envisioned in the smart grid road map for the power sector. The mission is expected to guide planning and investments for future power projects and T&D activities.

Source: Business Standard, 10 January 2014


Solar-RECs buy and sell bids and average clearing price (INR/REC)

13,40012,206

11,490

9,3009,3009,3009,3009,3009,3009,3009,3009,3009,300

9,300

0

25,000

50,000

75,000

1,00,000

1,25,000

1,50,000

Buy bids Sell bids Cleared price

Non-solar RECs buy and sell bids and average clearing price (INR/REC)

1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500

0

5,00,000

10,00,000

15,00,000

20,00,000

25,00,000

30,00,000

35,00,000

Buy bids Sell bids Cleared price


State-level initiatives10

Maharashtra • Maharashtra State Power Generation Company Limited (Mahagenco) has entered an agreement with Welspun Energy to set up a 50 MW grid interactive solar project in Baramati. German bank KfW will provide INR1.5 billion for the project, while the balance amount will be invested by Welspun.

• The Government of Maharashtra has approved INR2.7 billion for water supply works on the Surya and Masvan rivers

• Nagpur Municipal Corporation (NMC) is planning to provide a 50% subsidy on 3,450 solar water heaters to residents of Nagpur as part of the Model Solar City project

• Thane Municipal Corporation (TMC) plans to install around 1,100 LED lights in wards that are mainly populated by backward class people

• Brihanmumbai Municipal Corporation (BMC) has the commissioned Suez Environnement India project under a five-year contract, worth INR2.59 billion, to improve drinking water distribution to Mumbai’s 12.5 million inhabitants.

• BMC has also set up a 1.5 MLD waste water treatment plant at the Banganga waste water pumping station.

• Pune Municipal Corporation (PMC) is investing INR1.6 billion to set up a drinking water plant for 2.5 million people in Mumbai.

Tamil Nadu • The Government of Tamil Nadu has prepared a Energy Conservation Building Code (ECBC) draft for commercial buildings.

• The Government is investing around INR494 million to install LED lights on the streets as part of its sustainable development program.

• It has launched a solid- and resource-management project in 14 panchayats in the Coimbatore district with an investment of INR123 million.

• Salem City Municipal Corporation (SCMC) and Tiruchirapalli City Corporation (TCC) are planning to build a bio-methanation plant each, with a total investment of INR9 million.

• The Thrissur Municipal Corporation has commissioned an organic waste plant at a cost of INR9.8 million at the Sakthan market under its Decentralised Waste Management project.

Odisha • The Government of Odisha is planning to set up solar power capacity of 48 MW to fulfil the renewable purchase obligation (RPO) of its bulk power purchaser Grid Corporation of Orissa Limited (GRIDCO).

• GRIDCO seeks to set up India’s first net-zero energy building in Bhubaneswar.

• Odisha’s State Crime Records Bureau (SCRB) has entered an agreement with the Odisha Renewal Energy Development Agency (OREDA) to install solar systems in 161 police stations.

Karnataka • The Government of Karnataka has approved the Energy Conservation Building Code (ECBC) for new commercial buildings with floor area of more than 500 square meters.

• Bangalore Electricity Supply Company Limited (BESCOM) is planning to implement the net metering system in the city. The company has invited bids from companies that manufacture bidirectional meters.

• The Water Supply & Sewage Board of Bangalore (WSSBB) is investing INR918 million to build two waste water-treatment plants in the city.


Goa • The Goa Energy Development Agency (GEDA) is planning to install 50 hybrid solar power plants and wind turbines across the state to produce 1 MW to 1.5 MW of power by 2017.

Jammu & Kashmir • The Government of Jammu and Kashmir has signed a Memorandum of Understanding (MoU) with the MNRE to set up 5 GW and 2.5 GW capacity solar power projects in Ladakh and Kargil, respectively.

Uttar Pradesh • UP Power Corporation Limited (UPPCL) has entered an agreement with solar power developers to buy 110 MW of power — 10 MW from Azure Surya, 50 MW from Essel Infra, 20 MW from Moser Baer, 10 MW from Refex Energy, 10 MW from Jackson Power and 10 MW from DK Infracon..

Andhra Pradesh • The Government of Andhra Pradesh has issued letters of intent (LOIs) to developers of PV projects for signing PPAs under the state’s solar power policy.

Meghalaya • The Government of Meghalaya has sanctioned INR0.25 billion for installation of solar street lights under its Green City Project (GCP).

Kerala • The Municipality of Attingal plans to set up seven high-capacity biogas plants in public places as part of its effort to treat biodegradable waste at source.

Punjab • The Punjab Energy Development Agency (PEDA) is planning to make the Energy Conservation Building Code (ECBC) mandatory for commercial and major buildings.

New Delhi • The New Delhi Municipal Council (NDMC) is planning to set up small-scale waste-to-energy plants in select localities in the city. The first plant, with a capacity of 40 MW, will be set up near Safdarjung Hospital.

Sectoral update11

SolarKarnataka to introduce new solar power policy: The Government of Karnataka is planning to introduce a new solar power policy in the state. The policy will aim to set up and make operational 2,000 MW of installed solar capacity by 2020.

Source: The New Indian Express, 24 February 2014

Odisha to draft policy for promotion of solar energy: Odisha’s Energy Department has set up a committee to prepare a draft solar policy to promote the use of solar energy to address the issue of energy security. The other objectives of the policy include productive use of wastelands, provision of incentives provided for “solar” manufacturing and creation of an R&D hub for solar power technologies.

Source: The New Indian Express, 25 December 2013

Early signing of solar PPAs unlikely in Tamil Nadu: Tamil Nadu’s electricity generation and distribution utility Tamil Nadu Generation and Distribution Corporation Ltd. (TANGEDCO) has sought the approval of the state electricity regulator for signing PPAs with solar power developers for a total capacity of 226 MW. However, an early approval seems unlikely because of unresolved legal issues, the elections and the model code of conduct.

In January this year, the Appellate Tribunal for Electricity (APTEL) put on hold the Tamil Nadu Electricity Regulatory Commission’s (TNERC’s) solar purchase obligation (SPO) order. Following the APTEL’s decision, the TNERC had made TANGEDCO responsible for meeting mandatory renewable purchase obligation (RPO) targets instead of high-tension customers, according to the initial draft of the solar roadmap.

Source: Business Line (The Hindu), 19 March 2014

MERC allows Tata Power to postpone solar target until 2016: The Maharashtra Electricity Regulatory Commission (MERC) has allowed Tata Power to postpone its compliance with the former’s annual solar-power procurement targets by five years. Tata Power has not been able to procure adequate solar power to meet the Government’s renewable power-related mandates due to shortage of solar power generation in the country.

Source: Live Mint & Wall Street Journal, 23 December 2013


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5th Floor, Block B-2Nirlon Knowledge ParkOff. Western Express HighwayGoregaon (E)Mumbai - 400 063Tel: + 91 22 6192 0000Fax: + 91 22 6192 3000

NCRGolf View Corporate Tower BNear DLF Golf CourseSector 42Gurgaon - 122002Tel: + 91 124 464 4000Fax: + 91 124 464 4050

10th Floor, Tower D&E Cyber Green, DLF Phase-3, Gurgaon 12202 HaryanaTel: + 91 124 671 4400

6th floor, HT House18-20 Kasturba Gandhi Marg New Delhi - 110 001Tel: + 91 11 4363 3000 Fax: + 91 11 4363 3200

4th & 5th Floor, Plot No 2B, Tower 2, Sector 126, NOIDA 201 304 Gautam Budh Nagar, U.P. IndiaTel: + 91 120 671 7000 Fax: + 91 120 671 7171

PuneC-401, 4th floor Panchshil Tech ParkYerwada (Near Don Bosco School)Pune - 411 006Tel: + 91 20 6603 6000Fax: + 91 20 6601 5900

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