Mundra Solar eyes to become $1 bn company in 2-3 years
Mundra Solar PV, the solar photovoltaic manufacturing arm of diversified Adani Group, looks to become a $1 billion company over the next 2-3 years, a top company official said. The company is also hoping to scale up its manufacturing capacity of modules and cells from the current 1,200 MW to around 3,000 MW in the next 2-3 years. “We are very buoyant on growing our business and we are positive we will expand it depending on the way the government policy comes out which we feel will happen soon,” company’s chief executive Ramesh Nair told PTI over a telephonic interview. He said already actions are on the ground as the government has given the go ahead for pass through of any hike in case of the safeguard duty and the manufacturing policy is in its final stages. “Recently, the government announced that it will amend bidding rules to allow pass through of duty hike on solar. This has come as a major relief for developers as well. We hope we will be able to become a $1 billion company in the next 2-3 years,” he added. Currently, Mundra Solar has a manufacturing facility with a capacity of 1,200 MW in the Special Economic Zone at Mundra in Gujarat. “Manufacturing in India will have to increase as we cannot continue with letting Chinese products being dumped here. With the recent decisions taken and the government’s vision of 100 GW of solar capacity by 2022, manufacturing capacities in India will increase. We will also expand our capacity and depending on the manufacturing policy how it plays out we will also look at growing through backward integration,” Nair added. When asked whether the 100 GW target was achievable given the slow pace of awarding of contracts, he said, “It is indeed an achievable target. What is important is that the government needs to award contracts for almost 20 GW every year. Last year only 8,000 MW capacity was added but if we have to achieve the 100GW target the government will have to increase the pace of capacity addition.” Josh Reddick Womens Jersey
Government on target: All villages to get electricity by month-end
The government is set to meet its ambitious target of providing electricity to all villages by the end of April. Of the 18,452 villages targeted to be electrified in 1,000 days from August 15, 2015, 58 are left and the government expects to complete the task before April 30. Another 1,100 villages that were later identified as lacking electricity will also be covered this month, Union power secretary Ajay Bhalla told ET. Prime Minister Narendra Modi had announced on Independence Day last year that the government would achieve this target by May 1, 2018. Asenior executive with Rural Electrification Corp (REC), the nodal agency for implementation of the Deen Dayal Upadhyaya Gram Jyoti Yojna (DDUGJY), said the Centre handheld the states at all levels, beginning with formulation of the standard bidding documents (SBDs) to award contracts, which helped in saving six to eight months’ time. “We framed the bid documents and allowed and guided the states on portions that can be changed to suit each state,” he said. “Besides, rigorous monitoring was done on the Garv portal. The tendering happened in the shortest possible time. Even the SBDs could be customised easily, as we had told states which clause merits change.” REC employed gram vidyut abhiyantas (GVAs) to monitor on-ground progress of village electrification. The REC official said the implementation schedule was squeezed to 12 months and the process was divided in 12 milestones with defined timelines. “We streamlined the sanctions, disbursements, approvals and clearances. Even the sample designs and drawings of the village and network were made available to the states and contractors, saving at least five-six months,” the executive said. In difficult terrains in states like Manipur, Arunachal Pradesh and Jammu and Kashmir, REC conducted surveys with the help of GVAs and local people before awarding contracts. “This helped the contractors with information about roads, access,” he said. In some snow-bound areas like Leh and Kargil, equipment was airlifted, and for places where there was no access, it was routed through bordering areas like Nepal. In the villages left to be electrified, necessary material has reached the sites and the work will commence soon, the executive said. Ramik Wilson Authentic Jersey
Rajasthan aims 3,780 MW solar capacity by April next
With 20 projects of 1,500 MW capacity in pipeline, Rajasthan is targeting to increase its solar power generation to 3,780 MW by April next year in order to achieve the goal of 7,000 MW clean energy capacity in the next four years. “The current solar power generation is contributing 10 per cent to the total power consumption in the state and we are targeting to increase it to 17 per cent by 2021,” Rajasthan Renewable Energy Corporation Managing Director B K Doshi told . He said that solar power installation capacity in the state has reached to 2,280 MW by March this year and 20 projects of total 1500 MW are under pipeline and will be commissioned and start generating power by April next year. “Work on various projects is in full swing. The second phase of Bhadla solar park near Jodhpur has been commissioned (680 MW) and its third phase (1000 MW) is under progress. Of the 1000 MW capacity under the third phase of Bhadla park, 500 MW will be commissioned in September this year and 500 MW by April next year. Fourth phase of 500 MW will also be commissioned by April,” he said. Of the total 1,500 MW projects, which are scheduled to be commissioned by April next year, 10 are of the capacity of 100 Mw each and 10 of 50 MW each, he said. Other projects which are under the pipeline are Pokran-Phalodi solar park (750 MW), Fatehgarh phase 1B (1500 MW) and Nokh – Jaisalmer (1000 MW). The state having huge potential for the solar power generation could add just 496 MW in the last financial year, which is less than the fiscal year of 2016-17 where the state had added 500.55 MW. Doshi informed that the capital cost of setting up a solar plant in present is approximately 4 crore per MW which was quite higher earlier therefore the tariff at which the power is being purchased from companies is different depending upon their cost of production. Potential of the solar power generation is higher in Rajasthan as compared to other states but still the state lags behind Karnataka and Telangana. The solar power installed capacity in Karnataka and Telangana is 4,884.56 MW and 3,336.42 MW respectively while Andhra Pradesh is generating 2,148 MW solar power, according to official concerned of the respective states. Besides solar, Rajasthan is also generating 4,292.54 MW from wind and 120.45 MW from biomass (up to December 2017). As per a study by the union ministry of new and renewable energy, estimated potential of the desert state in wind energy is 18,770 mw. However, the state could not add any generation of power from wind in 2017-18 as no company opted Rajasthan to set up plan in the state in Solar Energy Corporation of India (SECI) biddings. Another official informed that various industries in the state put in place energy efficiency methods and have saved almost 222.3 million units of electricity and 2,73,660 MT coal in the last two years. “Industries are being encouraged to use energy efficient so that they can reduce power consumption,” the official said. Jim Brown Authentic Jersey
Hero Future Energies sets up country’s first hybrid renewable power plant
Hero Future Energies has commissioned the country’s first large-scale hybrid renewable energy project — a combination of sun and wind power — in Karnataka’s Raichur district. The company has added a 28.8 MW solar project to an existing 50 MW wind project set up two years ago. A hybrid project has several advantages over a standalone solar or wind project, including saving on land, company insiders. “Many of the solar panels have been installed in the spaces between the turbines,” Rahul Munjal, chairman at Hero Future Energies, said while inaugurating the project. Solar projects need about five to seven acres of land per megawatt depending on the technology used, and though Hero did acquire some additional land for the solar project, it was far less than it would have had to for a standalone project of similar size, officials said. Also, both wind and solar are ‘infirm’ sources of power in that their supply varies according to the speed of the wind or the intensity of solar radiation. By combining the two the project can supply steady power for a longer period in a day than standalone wind or solar plants, and improve its overall plant load factor (PLF). Wind speeds are usually highest early in the morning and at night, while sunshine is available only during the day. “It helps to smoothen out the supply to the grid,” Munjal said. “It also optimises transmission cost. We have a single 24 km long line that goes from here to the substation. If we had two separate projects, we would need two separate lines, run by two separate teams. A hybrid project also helps in forecasting and scheduling, making forecasting more accurate,” he said. The project is a group captive one, with a number of private companies buying power from it directly at mutually agreed tariffs. Siemens Gamesa was contractor for both the solar and wind projects, and also provided wind turbines for the plant. Though the combined plant has a total capacity of 78.8 MW, the transmission line so far is capable of evacuating only up to 50 MW. If hybrid projects make more sense, why has it taken so long since India began its renewable energy programme for the first hybrid project to come up? It is because the government has no policy for such projects yet. Draft guidelines for hybrid projects were circulated in mid-2016, but it was not finalised. There is no clarity yet on the tariff such projects can charge, and no state-owned discom will buy their power. “I wish we could sell to discoms, but we can’t since they don’t have a price,” said Munjal. “Everyone is waiting for a government policy, for a tender or a document or a price, which has not happened. Hybrid plants cannot sell to the government yet. You can build one if it is a group captive project.” Nor can those interested in hybrid projects participate in either solar or wind auctions, because the terms have not been set. The main challenge for hybrid projects is finding locations that have both strong winds and good solar radiation. “If you want to optimise on both, there are very few places,” said Munjal. “Wind power is available in only eight states in the country. Solar is everywhere. It is possible to get a great wind site with decent solar, but it will be rare to get a great wind site with great solar as well.” Hero Future Energies currently has around 1,200 MW of installed wind and solar projects, with another 500 MW being built and 300 MW more in the pipeline. Corey Clement Jersey
Flouting norms led to higher bad loans of REC, PFC: CAG
Government auditor CAG today slammed state-owned REC and PFC for not following internal guidelines and RBI rules in sanctioning loans to independent power producers that led to surge in bad loans. “REC and PFC did not conduct appropriate due diligence during credit appraisal and in the process assumed higher risks on the loan accounts,” the comptroller and auditor general said in its report tabled in Parliament. It noted that both the Rural Electrification Corporation (REC) and the Power Finance Corporation (PFC) deviated from their internal guidelines and also did not conform to the Reserve Bank of India guidelines in this regard. It also said experience and ability of promoters to develop projects was not assessed objectively as it was done based on individual judgement. The auditor took note of many projects where the promoter had poor experience not completing within schedule. The REC and the PFC disbursed loans of Rs 47,706.88 crore to independent power producers (IPPs) during 2013-14 and 2015 -16, which were audited by the CAG. During the same period, non-performing assets (NPAs) went up to 13.90 per cent from 2.32 per cent in the case of REC and 19.86 per cent from 4.28 per cent at PFC. In the sample selected for audit, nine projects had to be restructured multiple times, which increased interest by Rs 13,312.78 crore in six loan cases and resulted in NPAs of Rs 3,038.44 crore in three accounts. TThe CAG observed that both entities estimated a higher tariff at the time of appraisal of loan proposals, which resulted in sanction of loans of Rs 8,662 crore in six cases. In all these cases, the levelised generation cost was higher than the actual levelised tariff, and thus the viability of the project was doubtful, ab-initio, it added. The official auditor further observed that the pre- disbursements conditions were relaxed by REC and PFC from time to time. As per RBI guidelines (July 2013), financing agencies should not depend entirely on certificates issued by chartered accountants, but strengthen their internal controls and credit risk management system to enhance the quality of their loan portfolio. However, the CAG said no policy was in place at the REC and the PFC to ensure end utilisation of funds by the borrower. It noted diversion of Rs 2,457.60 crore by the borrowers and promoters in the sample reviewed. The CAG recommended that the process of appraisal of loan proposals, sanction and disbursement be strengthened. It also suggested that compliance with internal guidelines and RBI norms may be ensured at every stage of the loan appraisal, sanction and disbursement. Jack Ham Womens Jersey
After Uttar Pradesh, Jharkhand manages to renegotiate solar tariffs
Solar power developers who won the mega auction of 1,200 MW of projects in Jharkhand 16 months ago have agreed to reduce tariffs, which will help them sign power purchase agreements. Jharkhand is the second state after Uttar Pradesh to renegotiate solar tariffs arrived at through an auction. But while UP went back on signed PPAs, Jharkhand has not actually signed any because the state distribution company found it too costly. Developers had offered a tariff of Rs 4.99 per unit of power to the Jharkhand Renewable Energy Development Agency (JREDA) at a recent meeting. Among projects offered at 45 different locations in the state, winning bids ranged from Rs 5.08 to Rs 7.95, depending on size and location of the project. The agency has not yet taken a decision and the matter may even be discussed by Jharkhand cabinet at its next meeting likely later this week. The biggest winner in March 2016 Jharkhand auction was ReNew Power with 522 MW. Other notable winners included Suzlon Energy with 175 MW, OPG Power Generation with 124 MW, Acme Solar with 75 MW, Adani Green Energy with 50 MW and the now defunct SunEdison with 150 MW. Most of the developers declined comment, given the delicate stage of the negotiations. A solitary exception was ACME Solar Holdings, which won 75 MW, and indicated its willingness to discuss a reasonable tariff revision. “PPAs were not signed because it was not beneficial for the state to get power at the arrived tariff,” said Nikhil Dhingra, CEO at ACME Solar Holdings, which won 75 MW. “We remain committed to the state for future bids. It will really help both parties if the gap between the bidding and the PPA tariff adoption is minimised for it to make sense for the state.” Letters of intent were sent out to the winners in May 2016, but thereafter the state power distribution company Jharkhand Bijli Vitaran Nigam (JBVN) refused to actually sign PPAs with the winning developers. The developers claim they were told the rates were too high as the state bought conventional power at about Rs 4.30 per kwH. JREDA officials were unwilling to comment on why, despite letters of intent having been issued, PPAs had not been signed more than 16 months after auction was held. Nor would they confirm or deny fresh offers from developers. But in an interaction with ET in October last year, a Jharkhand official had hinted that the delay was due to both JREDA not having enough funds and its apprehension that the winning tariffs at the auction were too high Ten months later, the matter has still not been resolved. With LoIs already issued, cancelling the bids is not an easy option either for the state. In the meantime, solar tariffs have fallen even further across the country, thanks to a drop in input costs, with the lowest tariff reached being Rs 2.44 per kwH at an auction held for projects at the Bhadla Solar Park in Rajasthan in May. Developers say Jharkhand tariffs were higher because of many factors. One winner, who did not want to be named, recently pointed out five of them in a letter to JREDA: low solar irradiation, relatively more expensive land, the security threat posed by Naxalites, insufficient power evacuation infrastructure and lack of any sovereign guarantee from the state government that it would step in if the discom JBVNL were to default. “As compared to Rajasthan, Andhra Pradesh, Karnataka and Gujarat, solar irradiation in Jharkhand is 7-9 % less, thus resulting in low plant load factor (PLF) for similar plant design,” the letter noted. “Jharkhand has large forest cover and large contiguous land without vegetation is scarcely available. Land prices in other states are Rs 3-5 per acre, whereas In Jharkhand they are double and vary between Rs 8 lakh and Rs 10 lakh per acre.” ET View: Fresh bidding is sensible Things seem to be in a state of flux, and it would make sense to opt for fresh bidding. Looking ahead, the auction needs to reflect current state of affairs and future prices in the offing. Also, we need to differentiate supply-side policy from the demand side in renewable power. While upfront supply-side subventions can be phased out, given falling costs of hardware, we do need to encourage and step-up demand for renewables with dedicated line capacity and the like. It would be for the greater good. Tanner Glass Authentic Jersey
GST implementation may hit solar capacity addition in 2018: Report
India has already installed more solar capacity in the first six months of 2017 than in the entire 2016, according to a report by Mercom Capital Group, which tracks the Indian solar sector. Around 4,800 MW has already been commissioned in calendar year 2017, against 4,038 MW in 2016. The report expected an addition of 10,500 MW through the year, which will be another record, almost twice the 5,525 MW added in financial year 2016-17. But 2018 is likely to be a different story because of confusion over applicability of the goods and services tax (GST) on solar products, the report warned. “We have reduced the 2018 forecast by approximately 15% due to uncertainty surrounding GST rates, which has resulted in a slowdown in tenders and auctions.” TAX BUMP Initially, the government had maintained that all solar components would invite 5% GST, as reported by ET in its July 4 edition. Later, however, it clarified that only solar modules would be taxed at 5%; the other components would face 18% or 28%. “Government agencies have created an environment of chaos and uncertainty surrounding these rates. It has brought auction and PPA signing activities to a standstill as nobody wants to move forward without knowing what the GST rates are going to be,” Mercom added. The ministry of new and renewable energy is urging the finance ministry to stick to the earlier 5% for all solar equipment, but a decision has yet to be announced. SLIDING TARIFFS The sharp fall in solar tariffs at the last auctions held in May this year has also become a dampener, according to the report. “States are postponing tenders and auctions as they angle for the lowest possible tariff, especially after the recent winning bid of Rs 2.44 per kwH in the Bhadla Solar Park auction. States are renegotiating power purchase agreements and want to re-tender to get closer to the lowest possible tariff.” Mercom said around 1,000 MW of tenders were cancelled in April-June. The report said the sharp fall in prices of Chinese solar cells and modules has brought down the cost of solar installation to Rs 4 crore per MW. It used to be over Rs 6 crore per MW even a year ago. Erik Condra Womens Jersey
Haryana waives wheeling charges on power generated from solar plants
The Haryana government has waived intra-state wheeling charges, cross subsidy charges, transmission and distribution charges on the electricity generated from solar power plants in the state. Any investor, who installs a solar power plant at any place in the state, can sell this power to any private entity within the state at mutually agreed tariff without paying these charges, an official release said here today. It said that state government has notified the Haryana Solar Power Policy-2016 with the objective of ensuring a high trajectory of growth in the solar power sector. Five acres of land is required for setting up of 1 MW ground mounted solar power project with an investment of about Rs five crore. The solar power produced may be purchased by the Haryana Power Purchase Centre on the tariff finalized by inviting the tenders on competitive bids. “Now the developers can enter into power purchase agreement with third party without paying any wheeling and transmission charges which makes investment in solar power projects in that state more attractive,” it said. The Union Ministry of New and Renewable Energy had raised the solar renewable purchase obligation targets for the obligated entities including distribution companies to 8 per cent from the current level of 3 per cent of power consumption, it further said. “This target would translate into installing 4030 MW capacity solar power plants including 1600 MW rooftop solar power projects by year 2021-22 in Haryana. The Solar Power Policy would immensely help to achieve the set goals in a defined time period,” it added. Donald Trump Womens Jersey
Tough time for coastal power companies on higher Indonesian coal prices
Costal power plants will have a higher fuel bill in August as prices of Indonesian steam coal have risen 44% to a seven-month high. International coal prices have risen 6.4% since June as China cut production and increased import. S&P Global Platts said US export prices of premium coal increased from $68 a tonne in January to $75.5 a tonne in August. The consequent increase in power cost will make it difficult for coastal plants to compete, say experts. Robert Alford Womens Jersey
Jets’ Sheldon Richardson likes Marcus Mariota
Titans quarterback Marcus Mariota is enjoying a productive rookie year, And justifying Tennessee drafting him second overall. Though the Titans are 3 9, Including 3 7 in games he played, Mariota has 19 touchdown passes and nine interceptions. He ranks 12th in the NFL with 95.1 quarterback rating. Over his past five games, He has 10 touchdown passes and four picks. In last week’s win over the Jaguars, He threw for three touchdowns and ran for another an 87 yard scramble. He has run for 249 yards this season (8 yards per rush). Jets defensive end Sheldon Richardson noticed all of this on film, As he prepares for Sunday’s meeting with Mariota. Richardson admires Mariota’s potential, But knows the Jets have a chance to exploit his inexperience. “You still see rookie tendencies, [like] Holding the ball too long, Richardson told NJ Advance Media. “But that also comes with his young receiving corps, too. So they pretty much hurt him a little bit right there. “He’s hitting open receivers, So he’s still a threat. Very few overthrown balls from short to medium [range]. If they’re not open early, Then he’s holding the ball until someone is open. He’s not always on target, Especially with his deep ball. From medium to short range passes, He’s on point, RELATED: The road back for Revis The Jets’ pass rushers especially Richardson and Muhammad Wilkerson love to see a quarterback hold onto the ball. Mariota’s top target is tight end Delanie Walker, Whose 67 catches are more than double the next closest Titans player. Tennessee’s wide receiver leaders this season, By catch total, Are Kendall Wright (33), Harry Douglas (23), Justin Hunter (22), And Dorial Green Beckham (21), Though Hunter is on injured reserve. Douglas is an eighth year pro, But Wright, Hunter, And Green Beckham are in their fourth, third, And first season, Respectively. Richardson, A third year pro, Takes all that into account when he assesses Mariota’s potential. “He’s going to be in the league for a long time, Richardson said. “Rookie struggles like any other rookie quarterback, But the help around him has got to improve, too. You can’t just blame everything on the quarterback, Like everybody wants to. But hey, He’s managing with what he’s got, And he’s doing his thing, For Mariota, That means using his absurd athleticism to run. Sometimes, That has involved read option plays the Titans installed, To take advantage of his skills. Sometimes, It’s just Mariota taking off when a lane opens. “That’s always something to worry about, Richardson said. “You can’t let that slow your rush down. If you get to worrying about that, too, It plays some mind games with yourself, The message from Jets defensive coordinator Kacy Rodgers and coach Todd Bowles this week revolves around pass rushers staying in their lanes, And not straying from those areas. If they stray, Mariota might have an opening. This is particularly important for the Jets, Because they play a lot of man to man pass coverage in the secondary. In man coverage, Defensive backs typically have their backs turned to the quarterback, As they run with receivers. Rodgers said that on Mariota’s 87 yard touchdown run last week against the Jaguars, They were playing man coverage. “Guys were running with their backs turned, And they don’t see him until it’s too late, Rodgers said. “They were in a six man rush, And he broke contain and he was out the gate. So that’s something we’re definitely stressing this week, Middle linebacker David Harris said that any time the Jets play man coverage, “It’s the job of the front to keep him in the pocket. If you’re the edge rusher, You’ve got to keep him inside. He’s probably the fastest running back we’ll face this year. You’ve just got to be mindful of it when you’re blitzing, Or the edge [Rusher] Gets behind the line of scrimmage, Richardson and Wilkerson still want to rush Mariota hard and fast, But they must do it smartly, Within the confines of their rush lanes. “Just making sure we’ve got guys in front of him and we’re closing the pocket down on him [From the sides], Wilkerson said. “You never slow down as a rusher just because he’s a running quarterback, Jets report card, As they move closer to playoffs with comeback win at Giants Sometimes, Though, A player with Mariota’s elusiveness manages to get loose regardless of a defense’s best intentions. “You can try as hard as you can, To try to contain him, Said nose tackle Damon Harrison. “But when you’ve got a guy that athletic, He’s bound to break contain on a play or two, Marvin Williams Womens Jersey