SunEdison signs PPA with Karnataka Discoms for 150MW Solar Plant

Karnataka discoms and SunEdison signed power purchase agreement for its 150MW solar power plant which is projected to be completed in 18 months and would have the investment of INR 1500 crores (USD 250 million).

Bengaluru Electricity Supply Company(BESC) and Hubli Electricity Supply Company(HESC) had separate power purchase agreement. According to this both discoms will buy power at an average of INR 7 (USD 0.113) per unit. The project would require 750 acres of land but it is still need to be finalize. The project was earlier won by SunEdison in a tender which was floated by Karnataka Renewable Energy Development Ltd.(KREDL). Total auctioned capacity by KREDL is 500MW. This project by SunEdison will be the biggest one.

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Tamil Nadu Electricity Regulatory Commission Revises Power Tariff

The Tamil Nadu Electricity Regulatory Commission(TNERC) announced the hike of around 15% for the consumers. Although the government has proposed to provide the subsidy for escalating the entire burden from the consumers. New tariff are effective from 12 Dec.

As per the new tariff domestic consumers have to pay INR 4 per unit for typical consumption of 300 units for which earlier INR 3 per unit was charged. The hike also increased the tariff to INR 7.79 per unit which earlier was around INR 6.8 per Unit.

 For Official Notification Click Here

 

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India Will Fund 21GW New Solar Projects Through Viability Gap Funding

Government of India recently announced the approval for 21GW solar projects of USD 800 million.

The new projects approved will be funded using Viability Gap Funding(VGF). This VGF will be through National Clean Energy Fund which is generated by the tax collected from the coal companies which pays INR50(USD 0.80) per tone of the coal consumed.

Currently Indian Government is providing INR 5050 crore(USD 809 million) in total various solar projects to be executed during the year 2014 to 2019.

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Defence and Paramilitary Establishments To Get Solar Plants.

The Union Cabinet approves the solar projects of over 300MW by Defence and Paramilitary forces under National Solar Mission

The projects will be setup by Defence Establishments under Defence Ministry and Paramilitary Forces under Home Ministry. The projects will be funded with Viability Gap Funding(VGF) under Jawaharlal Nehru National Solar Mission(JNNSM) in Five Years i.e. 2014 to 2019. The Government also approved INR 750 Crore(USD 125 million) to Ministry Of New and Renewable Energy(MNRE) for this purpose from National Clean Energy Fund(NCEF).

The projects could be owned by the Defence organizations or can get the developer for the investment and supply the power at fixed tariff of INR 5.50 per Unit(kWh). Government keen on domestic manufacturing has made it mandatory to use of indigenous solar cells and modules in the projects.

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Indian Cabinet Approves 1.38GW Solar Projects Through PSUs and Defence

Indian government’s plans to promote solar energy were boosted by Cabinet’s approval of Solar Parks and other projects, according to an official press release.

The schemes approved are as under:

  1.  1000MW grid-connected solar PV projects would be developed by Public Sector Undertakings (PSU) during the years 2015 – 2018. Viability Gap Funding of INR 1000 crore (USD 160 million) will make the projects a reality. For these projects, use of domestic PV cells and modules is mandatory.
  2. 25 Solar Parks, each of 500MW capacity, will be developed with Central government’s financial support of INR 4050 crore (USD 650 million).
  3. During 2014-2019, defense and paramilitary forces are expected to add 300MW solar capacity with VGF support by Central government. Cabinet approved INR 750 crore for Ministry of New and Renewable Energy(MNRE) from the National Clean Energy Fund(NCEF), for this purpose.

Indian government plans to reach its ambitious solar targets at a rapid pace by involving PSUs and other semi-government bodies rather than relying completely on public-private partnership (PPP) model. This channel is also expected to boost domestic cell and module manufacturing.

Link to the press release.

 

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