- MSEDCL has launched 2 tenders—for 444 MW AC solar capacity under PM-KUSUM Scheme and another for 1.25 GW solar
- Tata Power will develop 41 MW ground mounted, floating and rooftop solar power capacity for Tata Steel under 25-year PPA
- AGEL’s H1/2022 (period ended September 2021) cash profit increased by 45% to INR 8.59 billion
- CRISIL expects solar tariffs in India going up to around INR 2.6 per kWh to INR 2.7 per kWh over next fiscal year due to a range of factors
MSEDCL solar tenders for 1.7 GW: The Maharashtra State Electricity Distribution Company Limited (MSEDCL) has launched 2 separate solar tenders for a combined capacity of 1.7 GW. The 1st tender is an expression of interest (EOI) cum request for selection (RFS) for 444 MW AC solar capacity to be set up under the Government of India’s Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan‟ (PM-KUSUM) Scheme. It seeks to procure this capacity from ground mounted solar power plants in Maharashtra under component A of the scheme. Power generated will be consumed for agriculture load at local level while providing farmers with an extra income source by encouraging them to use their barren and uncultivable land for solar. Last date to submit bids is November 23, 2021.
The other tender is for 1.25 GW AC ground mounted solar power plants for which MSEDCL will enter 25-year power purchase agreements (PPA) with the winners. Grid connected projects can be located in various districts of Maharashtra. Minimum individual project capacity can be 2 MW and maximum 10 GW (2×5 MW). For this tender, the last date of bid submission is November 25, 2021.
Tata Power & Tata Steel for 41 MW solar: Tata Group companies Tata Power and Tata Steel have joined hands to develop 41 MW grid connected rooftop, floating and ground mounted solar power capacity. These projects will be installed by Tata Power for as 21.97 MW in Jharkhand’s Jamshedpur and 19.22 MW in Odisha’s Kalinganagar under 25-year PPA with Tata Steel. “Under the PPA, at Jamshedpur, Tata Power will develop rooftops PV with 7.57 MW capacity, while floating and ground mounted capacity would be 10.80 MW and 3.6 MW, respectively. The ground mounted PV will be installed at Sonari Airport, Jamshedpur. Kalinganagar will have 9.12 MW rooftop PV capacities, and floating PV will constitute 10.10 MW,” the duo stated.
Adani Green Energy Q2/2022 results out: Adani Green Energy Limited (AGEL) has announced results of its H1/2022 (period ended September 30, 2021) to show its revenues from power supply increased 48% over previous year to INR 16.82 billion ($224 million), while EBITDA from power supply increased by 50% to INR 15.77 billion ($210 million). It sold 54% more energy with 3,954 million units. AGEL said its cash profit increased by 45% to INR 8.59 billion ($115 million). Its total renewable energy portfolio has increased to 20.284 GW with the acquisition of SB Energy India (see India PV News Snippets).
CRISIL expects solar tariff increase: CRISIL has warned that after reaching an all time low of INR 2.00 per kWh, solar power tariffs in India may increase during next fiscal year to INR 2.6 per kWh to INR 2.7 per kWh. The factors it fears may lead to the increase include increase in the Goods and Services Tax (GST) on renewable energy equipment as PV cells and modules from 5% and 12% with effect from October 1, 2021. High polysilicon prices have already increased module prices to $0.023 per W to $0.024 per W in 1st half of current fiscal.
Another factor is the proposed basic customs duty (BCD) on imported solar modules that’s likely to come into effect from April 1, 2022. The Government of India is reportedly considering requests to delay imposition of (BCD) or may extend project commissioning deadlines as developers deal with spiked prices from Chinese suppliers (see Ray Of Light For Solar Developers In India).