MVV Energie Acquired 50.1% Stake in Juwi, the leading renewable energy company

According to recent reports, German utility MVV Energie has acquired a  total of 50.1% stake in the prominent renewable energy project developer and engineering procurement and construction company Juwi Renewables in Germany, for an undisclosed amount.

This acquisition hints at strategic shift that many utility majors are making to embrace solar energy.

Press release can be found here

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SunEdison Signs 5000 MW MoU with Rajasthan State Government

Mr. Pashupathy Gopalan, president of Asia Pacific Operations for SunEdison, has signed a memorandum of understanding with Rajasthan state for 5000 MW of solar capacity in the state. SunEdison plans to develop this capacity in stages, primarily through the solar park model. The solar projects will mostly sell power to NTPC, state discoms, SECI or other government bodies.

News link can be found here.

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Andhra Pradesh Attracts Bids of 1291 MW Capacity for 500 MW Solar Target

Andhra Pradesh has released the detailed list of qualified bidders for 500 MW solar projects. 63 bids qualified the selection criteria, totalling up to 1291 MW. While the lowest bid tariff for the first year after commercial operation date was INR 5.25/kWh (by First Solar), the highest qualified bid tariff was INR 8.08/kWh (this is not the successful bid tariff though).

The bid tariffs will increase @ 3% per annum for the first ten years. To understand more about the Andhra Pradesh policy, please visit this link.

To see the official release by APSPDCL, please click on the following:

Andhra Pradesh solar 500MW final bidders list

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INR 500 Crore Grant by Centre for Andhra Solar Parks

The central government has agreed to provide INR 500 crore grant for development of Andhra Pradesh Solar Parks. The Ministry of New and Renewable Energy has already released draft guidelines for an upcoming policy which targets 1000 MW in Andhra Solar Park.

News link can be found here.

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Indian Ministry Releases Draft Guidelines for 3000 MW of Solar PV Capacity

The Ministry of New and Renewable Energy of India has released draft guidelines for 3000 MW of solar PV projects to be developed under the National Solar Mission’s Phase 2 Batch 2 Tranche 1.

  1. MNRE has revised the solar capacity target under the phase 2 of National Solar Mission from 9000 MW to 15000 MW of grid connected PV capacity.
  2. Phase 2 will be further segmented into 3 tranches. First tranche (starting from 2014-2015) targets 3000 MW, second tranche (starting from 2015-2016) targets 5000 MW and the third tranche (starting from 2016-2017) targets 7000 MW.
  3. Under the tranche 1, competitive reverse bidding will be held, and solar-generated power will be bundled with 1500 MW of unallocated coal-generated power.
  4. Solar Park mechanism will be used by NVVN to implement this tranche. Part 1 of this tranche will be a 1000MW Solar Park in Kurnool District, Andhra Pradesh.
  5. Out of 1000 MW, 250 MW is reserved under domestic content requirement (DCR). In case of crystalline Silicon technology, cells must have been manufactured in India, not just modules. Thin film technology has also been brought under the ambit of DCR – thin film modules must be assembled in India.
  6. Solar Park will be developed by Joint Venture of SECI (seci.gov.in), NEDCAP (http://nedcap.gov.in/) and APGENCO (http://www.apgenco.gov.in/).
  7. Selected solar project developers will enter into an implementation support agreement with the JV firm and transmission agreement with STU (APTRANSCO or Power Grid Corporation of India).
  8. Each project will have a capacity of 50 MW, evacuated at 132 kV or above rated substations. Maximum capacity allocated to a company (including sub or super organisations) will be 250 MW.
  9. Minimum required net worth of a bidder for meeting the financial criteria will be INR 2 crore/MW.
  10. During ranking of bid tariff rates, tariff rates with and without accelerated depreciation (AD) benefit claim shall be treated at par.
  11. Power Purchase Agreement (PPA) signing authority will be NVVN. PPA will be signed for 25 year time period with possibility of extension for additional 15 years, @ INR 3/kWh (to be determined after 20 years of operation).
  12. Earnest money deposit(EMD) of INR 20 lakh/MW has to be provided as bank guarantee at the outset. Performance guarantee of total INR 50 lakhs/MW (EMD + additional INR 20 lakhs/MW) has to be provided during PPA signing.
  13. No change in the shareholding in the Company developing the Project shall be permitted from the date of submitting the RfS till the execution of the PPA (except when the company is a listed one). Control (more than 50% of the paid up capital) can be transferred after 1 year post commissioning of the project. If the control  of the project changes hands, INR 5 lakhs/MW has to be paid to NVVN by the developer.
  14. There is a provision for part commissioning of the project – minimum 50% of the total project capacity for first commissioning, multiples of 5MW thereafter.
  15. Project has to be commissioned  within 13 months of PPA signing. Financial closure has to be achieved within 210 days of PPA signing.
  16. Penalty for delay beyond total 18 months of PPA signing will be INR 1 lakh/MW.
  17. NVVN will purchase non-solar RECs and club them along with the bundled solar-coal generated power (1 non-solar REC for every 40,000 units of bundled power), so as to promote the REC market. (NVVN may charge additional INR 0.05/kWh from the discom to compensate for the additional cost).
  18. Payment Security Fund with a corpus to cover for 3 months of payments will be maintained. Source of this fund will be mainly National Clean Energy Fund.

 

Review meeting with developers and stakeholders will be held on 17 October 2014, at 10:30 a.m. in Mirza Ghalib Hall, Scope Convention Centre, Scope Complex, Lodhi Road, New Delhi. General public can send comments by 30 October 2014.

Click on the link below to download draft guidelines:

MNRE NSM Draft-Guidelines-for-Batch-II-Phase-II-Tranche-I

 

 

 

 

 

 

 

 

 

 

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