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In this edition

REC mechanism — present scenario 02

Quarterly review 04

References 14

Beyond sustainabilityIndia cleantech review

Eleventh editionSeptember 2013

Dear readers,

The Indian economy is currently grappling amid one of the most adverse conditions in a long time. The key impact is the pounding that the Indian currency has endured in the last few weeks. Nevertheless, India continues to be one of the front-runners among emerging economies, as all of the economies are threatened by the market conditions.

All of the sectors are being affected by the economic volatility and particularly those that are more dependent either on foreign funds or imports. Unfortunately, both wind and solar, the key drivers of the Indian renewable energy sector, fall squarely within this segment and are slowing down.

On the policy front, the government finally provided the much-awaited clarity on the Generation Based Incentive (GBI) allocation of wind power that was announced in the union budget in February. However, the ongoing debate over the scheduling of wind power and the introduction of reverse bidding continues to be a drag on the sector. On the solar front, the national solar policy remains muted while the outcome of the anti-dumping is still awaited. The recent move by the Maharashtra Electricity Regulatory Commission to penalize non-compliance of the Renewable Energy Power Purchase Obligation is a silver lining in an otherwise static environment.

Another significant development is the overturning of the petition filed by Gujarat Urja Vikas Nigam by the Gujarat Electricity Regulatory Commission.

The Government seems to be poised to take some strong action to revive economic sentiment. For this, it is prioritizing infrastructure investment.

This issue also covers an article from our Climate Change and Sustainability Services team analyzing the Renewable Energy Certificate (REC) mechanism.

A few prominent business/groups are actively exploring the Indian renewable space, especially solar. This could potentially attract more investment, while giving better exposure to the Indian renewable energy sector.

I hope you enjoy reading this edition. As always, we look forward to your valuable feedback.

Sanjay Chakrabarti Partner & Cleantech Sector Leader Ernst & Young Pvt. Ltd. [email protected]

Renewable Energy Certificate mechanism — present scenario analysis

It has been more than three years since the Central Electricity Regulatory Commission (CERC) notified the Renewable Energy Certificate (REC) regulations. However, to date, a limited number of state electricity regulatory commissions have enforced RPO compliance. As per a Forum of Regulators (FoR) meeting report dated 21 August 2013, for the assessment year 2012-13, national

Renewable Energy Certificate (REC) was conceptualized:

1. to address the mismatch between the availability of renewable energy sources and the renewable purchase obligation (RPO) in the states, and

2. to encourage renewable energy capacity addition where there is potential for renewable energy generation.

2 | Beyond sustainability — quarterly review

The following are some of the key recommendations that were presented in the Forum of Regulators (FoR) meeting report:

1. Invoking model regulations for the enforcement of RPO

2. Imposing penalties for non-compliance with RPO

3. Augmenting demand for RECs through the creation of a fund for purchase of RECs from the market by SERCs or their designated agencies; obligated entities failing to meet RPOs would be mandated to make deposits to this fund, based on their shortfall (in MWh) and the forbearance price for RECs

Conclusion

The enforcement of RPOs has long been viewed as a tipping point for the Indian renewable sector. However, the government needs to focus on execution and put a monitoring mechanism in place. In our view, the effective enforcement of RPOs, as recommended by the FoR, innovative and dynamic REC pricing methodologies, bilateral REC trading and reduction in review period of the RPO compliance will have a cascading effect on the renewable energy sector. This would go a long way in benefitting the Indian economy, as the RE sector continues to be one of the top global investment destinations, despite the current economic downturn.

_____________________________________________

Chaitanya Kalia Partner – Advisory Services Climate Change & Sustainability Ernst & Young LLP

RP Gokul Manager – Advisory Services Climate Change & Sustainability Ernst & Young LLP

average compliance with non-solar and solar RPO was 3.74%1 and 0.08%2 vis-a-vis the target of 5.45% (non-solar) and 0.45% (solar), respectively. In electricity terms, non-compliance accounts for 14.4 million MWh of non-solar RPO and 3 million MWh of solar RPO.

Non-enforcement has had an impact on the procurement of RECs by the DISCOMS, captive users and open-access consumers from exchanges operated in India. During the financial year 2011-12, the gap between REC issuance and redemption of non-solar RECs was only 4.05%. Over the years, however, the gap has widened. As of September 2013, nearly 60% of issued solar RECs and more than 45% of the issued non-solar RECs were yet to be redeemed. In absolute terms, 3.3 million RECs have been issued but not redeemed, equivalent to approximately 10% of the overall gap in compliance with RPO.

In addition, the following factors are contributing to under-performance of the REC market:

1. Appropriate monitoring mechanisms are not in place to monitor RPO compliance by captive and open-access users. To resolve this concern, the MNRE has recently announced the empanelment of consultants for evaluating REC. However, no directives have been issued.

2. In the case of solar power, the present floor price and forbearance price is not commensurate with the tariff variation due to technological advancement and capital cost reduction.

3. Individual states are coming up with state-specific RPOs, and renewable purchases are being processed at a cost that is lower than the floor price offered. For example, the solar power procurement tariff in Rajasthan is INR7.31/kWh, INR5.78/kWh in Tamil Nadu and INR5.51/kWh in Karnataka, as opposed to the floor price of INR9.3/kWh set by the Central Electricity Regulatory Commission.

1 http://www.forumofregulators.gov.in/Data/Meetings/Minutes/37.pdf

2 Solar REC trading started in May 2012. https://www.recregistryindia.nic.in

3Beyond sustainability — quarterly review |


Quarterly reviewDomestic cleantech players

Investment-related announcements

Other updates2

Table 1.1. Major investments announcedi

Company Key business activity Investment plans Amount (INR billion)

Investment horizon

Solar

Lanco Solar Private Ltd Photovoltaic solar panel manufacturer

To build a 300 MW photovoltaic (PV) solar manufacturing plant at Rajnandgaon, Chhattisgarh

30.0 2014

Astonfield Renewable Resources Ltd

Renewable IPP To install 250 MW of solar capacity in the next two years 20.0 2014

UPNEDA and NHPC Clean energy development/hydro generation

To set up a 100 MW solar power plant in Kalpi, Jalaun district, Uttar Pradesh.

4.0 2014

Tata Power Company Limited

Power utility To develop 28.8 MW solar power plant 2.3 2013

Welspun Energy Ltd. Renewable IPP To build a 60 MW solar power plant in the state of Tamil Nadu

NA NA

Wind

Mytrah Energy (India) Ltd

Renewable IPP To set up a 100 MW wind farm near Coimbatore, Tamil Nadu and to acquire 59.75 MW of wind farms in Tamil Nadu and Maharashtra

NA 2013

Bioenergy

Essel Pallavapuram and Tambaram MSW Private Ltd (EPTMPL)

Waste-to-energy To set up a 11 MW waste-to-energy project in Tamil Nadu 1.0 2014

Mumbai Metropolitan Region Development Authority (MMRDA)

Waste-to-energy To set up a 30 MW waste-to-energy project 3.0 NA

Other updatesii

SolarSECI planning four pilot solar thermal projects: Solar Energy Corporation of India (SECI), a newly formed public sector company, plans to call for international competitive bidding for four pilot solar thermal power projects in a year’s time. These projects will require an investment of around INR25.55 billion and have been sanctioned viability gap funding (VGF) of INR10.2 billion. Bidders that seek the least funding will be awarded the projects. SECI is targeting a tariff of INR5.83 per kWh, fixed over a 25-year period. The projects will be of varied technologies (within solar thermal) and will be set up in Gujarat (35 MW), Rajasthan (40 MW), Tamil Nadu (25 MW) and Andhra Pradesh (20 MW).

WindSuzlon finishes INR97.45b debt- restructuring with share issue: Suzlon Energy Ltd., after failing to repay its convertible debt in 2012, has implemented its INR97.45 billion debt reorganization plan and issued new shares to lenders. Suzlon completed an issue of 302.4 million shares at INR18.95 to lenders on a preferential basis.

DLF sells wind assets in Gujarat and Karnataka for INR3.55b: Realty major DLF, continuing with its strategy of exiting its non-core businesses, has sold wind assets worth INR3.55 billion — 150 MW wind mills in Gujarat for INR3.25 billion and 11.2 MW wind turbines in Karnataka for nearly INR300 million.


Other Indian companies

Announcements about investments

Table 1.2. Major investments announcediii

Company Key business activities

Investment plans Amount (INR billion)

Investment horizon

Praj Industries Biofuels To set up an integrated second generation (2G) cellulosic ethanol plant 15.2 NA

Piramal Enterprises Healthcare company Investing over INR10b in renewable energy projects in two separate structured transactions including INR5b via convertible debentures in Green Infra, a renewable-energy IPP

10.0 NA

Bharat Heavy Electricals Ltd (BHEL)

Power plant equipment manufacturer

To expand existing production capacity to 480 MW from 26 MW presently at its Bengaluru solar PV panel facility and develop a backward integration project for its solar photovoltaic panel business in its electronics unit in Bengaluru, Karnataka

8.0 NA

Jakson Power Solutions

Power generation and distribution

To increase generation capacity of its solar business to 100 MW from 20 MW at present

7.5 2016

Oil India Ltd Oil & Gas To add 50 MW wind power-generation capacity to its portfolio 4.0 2014

ITC Multi-business conglomerate

To set up 63 MW wind farms, including a 46 MW farm at Bhadrachalam in Andhra Pradesh

3.0 2016

IDFC Ltd. Financial services To increase its investment in New Delhi-based Green Infra, a renewable-energy IPP

2.5 2013

Sardar Sarovar Narmada Nigam Limited (SSNNL)

Water supply To build a 10 MW canal-top solar power project on Sardar Sarovar canal in Gujarat

1.2 NA

MM Forgings, Rane Group, Super Auto Forge, Natesan Industries, IM Gears and Swelect

Automotive components

To set up a joint 10 MW solar farm near Madurai in Tamil Nadu 0.8 2013

Ramoji Group Pubication group To set up a captive solar power plant with capacity of 6.5 MW in Andhra Pradesh

0.5 2013

Jawaharlal Nehru Port Trust (JNPT)

Container port To install 7 MW of wind capacity 0.5 2014

Mahindra group Diversified group To develop 500 MW solar power projects implemented by its solar EPC and solar project development arms

NA 2016

Neyveli Lignite Corporation Ltd (NLC)

Mining and power generation company

To develop 50 MW of wind power in the Tirunelveli district of Tamil Nadu and 30 MW solar power (10 MW in Neyveli , Tamil Nadu and 20 MW in Rajasthan) projects

NA 2014

Ushdev International Trading in ferrous and non-ferrous metals

To raise its portfolio of wind power from 90 MW to 350 MW through acquisitions

NA 2014


Foreign participation

Major tie-ups

Table 1.3: Major tie-ups and agreements announcediv

Foreign player Domestic player Type of partnership/agreement

Jusung Engineering Kerala State Industrial Development Corp

To build a solar cell and module plant in the state with an initial capacity of 100 MW and an investment of INR5 billion

Solea AG Heidelberg Solar Private Limited (HSPL), an Indian subsidiary of Pinpoint Ventures Holding

Partnership for Solea to enter the Indian market, which will initially concentrate on the south Indian states and will develop projects of between 1 MW and 50 MW

Hubei Surpass Sun Electric Company Limited

Solar Energy Association of Tamil Nadu

To set up a model 5 MW solar power plant in the hinterlands of Tirupur

BP Plc and International Finance Corp. (IFC)

MNRE and Technology Development Board and Indian Institute of Management, Ahmedabad (IIM-A)

To create Infuse Ventures, an India-centric investment fund to support start-ups in the sustainable energy and clean technology sector (Infuse Ventures is raising an INR1.25b fund, had its first closing at INR750m and has already made its maiden investment.)

National Space Society (NSS), USA International Space Society (ISS)

To collaborate on building clean space-based solar power satellites to harness solar power in space

Smart Hydro Power GmbH (SHP) meeco Group To promote and develop small hydroelectric power projects

EMCORE Corp. Indian Space Research Organization (ISRO)

To manufacture, test and deliver high-efficiency multi-junction solar cell assemblies for ISRO‘s satellite missions — deal valued at INR1.34 billion

LanzaTech IOC-DBT Centre for Advanced Bio-Energy Research

To further develop IOC-DBT's micro-algae technology

Schneider Electric BSES Rajdhani Power Ltd. (BRPL)

To offer energy-efficient solutions to consumers including industries, hotels, malls, hospitals and commercial buildings

Other updatesv

Solar CLP India plans solar sector entry with 5 MW -10 MW project: CLP India Pvt. Ltd., a wholly owned unit of Hong Kong-based utility CLP Holdings, intends to enter the Indian solar segment with a 5 MW to 10 MW project.

Bonfiglioli to launch PV inverters in India: Italian power equipment major Bonfiglioli plans to launch solar photovoltaic

inverters at its new plant near Bengaluru on a pilot basis. The company will manufacture inverters of 10 kV and above and plans to sell them in Indian and other Asian markets.

Finnish Vacon begins production of solar inverters in India: Finnish alternating current (AC) drives maker Vacon Oyj has begun making inverters for solar power generation at its plant in Bangalore. Vacon’s cabinet-installed solar inverters range from 10 kW to 1,200 kW and are based on the company’s AC drive technology.


Table 1.4: Major investments announcedvi

Investor company/group Target/ Investee company

Amount (INR billion)

Mode of investment

Investment details/background

Solar

FJS Energy LLC, USA None 13.0 Equity To create a portfolio of 200 MW solar projects at famed Buddhist sites in Bihar, with the first phase to focus on 20 MW to 25 MW projects ( envisaging an investment of INR1.6b upwards).

International Finance Corporation (IFC)

Acme Solar 2.7 Debt Debt funding of US$50 million to be used over the next few years for various projects that ACME Solar is developing, with the first tranche of financing to be provided to a 25 MW solar PV plant being developed in Madhya Pradesh

Financial institution (Details not disclosed)

Welspun Energy 0.49 Debt Debt funding for 7 MW solar power plant in Chitradurga district of Karnataka being developed by the company's subsidiary Welspun Solar Kannada Pvt. Ltd. and expected to become operational by March 2014.

Consortium of financial institutions (Details not disclosed)

Welspun Energy 1.35 Debt Funding of 20 MW solar power plant in Solapur in Maharashtra being developed by the company's subsidiary Welspun Energy Maharashtra Pvt. Ltd .

WInd

Goldman Sachs Group Inc. ReNew Wind Power Pvt. Ltd.

7.8 Equity The New York-based bank to triple its investment in ReNew, taking its stake in the company to INR22.2b out of a possible INR28.9b earmarked for it

Government of Singapore Investment Corp. (GIC)

Greenko Group Plc

8.2 Equity To support Greenko in achieving 2,000 MW of operating capacity by 2018

Asian Development Bank NSL Renewable Power Private Ltd.

1.6 Equity To support construction of 75 MW Chilarewadi wind plant in Maharashtra

Renewable energy

International Finance Corporation (IFC)

NSL Renewable Power

0.3 Compulsorily convertible debentures

To support development of wind and hydropower projects in the country

Water

Asian Development Bank (ADB)

Kolkata Municipal Corporation (KMC)

30.0 Debt To pave the way for the second phase of KMC's Kolkata Environment Improvement Project (KEIP), which aims to modernize the city's water supply system

Capvent AG Morf India Ltd NA Equity Acquired 51% stake, which will help company’s pan-India expansion plans and to develop products

Sandi Group Aquakraft Projects Pvt. Ltd.

0.4 Equity Group to fund Mumbai-based Aquakraft’s research on developing water-purification solutions in India

CLSA Capital Partners Luminous Water Technologies Pvt. Ltd.

0.6 Equity Funds, received through CLSA Capital’s unit Aria Investments Partners IV to help Luminous Water expand its Livpure brand of reverse osmosis water purifier

Bioenergy

InterGen Energy KK Plastic Waste Management (KKPWM)

0.6 Equity Acquired a 50% stake to help KKPWN scale up its operations and bring professional systems, processes and functioning into its business

Investments (including PE/VC)

Announcement of investments


SolarGujarat regulator rejects proposed retroactive solar tariff cut: Gujarat Electricity Regulatory Commission has dismissed a petition by the state government to lower rates agreed under 25-year contracts signed from 2010 onwards. The state’s power purchaser Gujarat Urja Vikas Nigam Ltd. had asked for a 28% reduction in tariffs to recoup what it called windfall gains. The purchaser had signed 88 contracts for a total of 971.5 megawatts of solar capacity with developers since 2010, making Gujarat the largest solar power market in India with almost half of the national solar capacity. “The parties to the contract are not at liberty to amend or alter the terms of contract saying that the terms of contract may not be beneficial to them at a subsequent stage,” the state commission said in its order.

Solar Mission-II projects to have 75% local content: The Government of India intends to have 75% local content in projects awarded under the second phase of the Jawaharlal Nehru National Solar Mission (JNNSM). The Government is planning to start the bidding process for solar projects (of 750 MW) soon. This put to rest all uncertainties pertaining to the use of local content in the Mission due to US pressure. The US has dragged India to the World Trade Organisation (WTO) over its mandating domestic sourcing in the first phase of the Mission.

MNRE extends deadline for Rajasthan solar thermal projects: The MNRE has decided to defer the penalty of INR0.1million/MW/day and extend the deadline for commissioning solar thermal projects in Rajasthan by 10 months, considering that these projects are being built for the first time in India. Four of the five CSP projects in Rajasthan, with a combined capacity of 470 MW, have missed the scheduled commissioning deadline, citing lack of accurate and ground measured Direct Natural Irradiance (DNI) data.

WindIndian Cabinet approves Generation Based Incentive (GBI) scheme for wind: The GBI incentive scheme was approved by the Union Cabinet of Ministers on 1 August 2013. GBI provides an incentive of INR0.50 per KWh of electricity generated by wind projects registered under the scheme. The incentive will stop once the pay-out reaches INR10 million per MW of capacity. The incentive (of INR10 million) can be drawn in not fewer than four years and not more than 10 years.

Wind farms asked to forecast their generation or face penalties: A directive from India’s Central Electricity Regulatory Commission took effect from 15 July, mandating wind farms with a capacity of 10 MW or more to forecast their generation in 15 minute blocks for the following day. Missing estimates by more than 30% will incur penalties. Fines will be paid to state utilities through a new Renewable Regulatory Fund. Developers have said that forecasting at 15-minute intervals is very challenging and expensive, and penalties may jeopardize the industry’s growth. The Wind Independent Power Producers Association (WIPPA) has filed a petition with the Delhi High Court against the power regulator, the Central Electricity Regulatory Commission (CERC), over the order.

MNRE drafts offshore wind policy and plans competitive bidding: MNRE has drafted an offshore wind energy policy, which proposes to tap wind power off the coasts of Gujarat, Karnataka, Kerala, Goa and Tamil Nadu. The draft policy proposes to offer fiscal incentives such as a 10-year tax holiday once power generation begins, as well as a concession in customs duty and exemption in excise duty for purchase of equipment and technology. Services such as resource assessment, environmental impact assessment, and oceanographic studies by third parties, as well as use of survey and installation vessels, may also be eligible for exemption from Service Tax. Offshore wind energy blocks will be offered through an open international competitive bidding process, and bidders can be companies, consortiums or joint ventures.

KERC hikes wind average pooled purchase cost to INR3.07/kWh: The Karnataka Electricity Regulatory Commission (KERC) has decided to raise the average pooled purchase cost (APPC) to INR 3.07/kWh from INR 2.60/kWh. The new rate will result in higher tariffs for wind power producers who prefer to sell their electricity to the state’s distribution companies at a non-preferential tariff and avail themselves of renewable energy certificates (RECs). The new APPC rate will apply for the period 1 April 2013 to 31 March 2014.

RECIndia’s solar credits drop to floor price for the first time: India’s solar-energy credits fell by as much as 19% from the previous month, sinking to their floor price for the first time since trading began last year as new solar plants came on line. Bids from solar utilities seeking to sell credits were four times higher than buy bids.

Sectoral updatesvii


Energy efficiencyWorld Bank provides INR2.98 billion to BEE to produce energy-efficient fans: The World Bank is providing INR2.98 billion to the Indian Government’s Bureau of Energy Efficiency (BEE) to produce five million super-energy efficient fans that will help India save 100 MW power every day. The pilot aims to provide financial incentives to fan manufacturers to be selected by BEE to adopt energy-efficient technologies. With this project, the Government will try to give fillip to its National Mission on Enhanced Energy Efficiency (NMEEE), which has not taken off as desired. The mission aims to save 19 GW of power by introducing energy-efficient appliances to reduce carbon emissions by 98 million tons by 2014−15.

MSME ministry launches INR216 million projects to promote energy efficiency and renewable energy: The Ministry of Micro, Small and Medium Enterprises has launched an INR216 million project in association with Global Environment Facility (GEF) to promote energy efficiency and renewable energy among small and medium enterprises. Out of the total funding, the Ministry will provide INR162 million and GEF a grant of INR54 million of three years to help small units use clean energy and become energy efficient.

BiofuelsOil companies miss deadline for 5% ethanol blending: State-owned oil companies have missed the 30 June 2013 deadline for mandatory blending of 5% ethanol in gasoline. Oil companies have so far finalized procurement of 400 million liters of ethanol (against a total requirement of around 1 billion liters) for the next 12 months and are planning to issue another tender in 2013 to meet the shortfall.

Transmission and distributionIndia to roll out INR430 billion “green energy corridor” for transmitting renewable electricity: The green energy corridor will facilitate integration of renewable energy into the national grid. The blueprint for the project has been submitted to the Ministry of Power (MOP) by the Power Grid Corporation of India. During its implementation, the project will be split into intra- and inter-state levels. Intra-state upgrading of the grid will be handled by PowerGrid and the inter-state network by state utilities. According to a power ministry official, Germany has committed technical and developmental assistance worth €1 billion for this project. The German development bank, KfW, will provide the funding.

PowerGrid seeks permission from CERC to implement smart grid plan: PowerGrid Corporation of India Limited (PowerGrid) has sought permission from the Central Electricity Regulatory Commission (CERC) to upgrade its 1,700 stations in an initiative to implement the smart-grid mechanism. The project would cost around INR6.55 billion and would be completed in three years.

Financing and investmentRenewable energy PE investment falls by 35%: Private equity (PE) investment in the renewable energy segment fell by 35% to INR18.2 billion during January−June 2013, as compared to the same period in 2012. The fall in investment was led by the wind energy segment, which attracted only INR8.5 billion, as compared to INR21.2 billion in 2012. PE funds infused INR1.74 billion in the solar industry in 2012, but not a single investment was made in it in 2013.

However, PEs invested INR18.2 billion in companies that generate power through multiple sources, as compared to INR2.9 billion a year ago. Similarly, not a single deal was reported in hydel in 2011 and 2012, but there was one deal worth INR514 million in 2013.

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Figure 1: Solar REC – Price and volume trend

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Note: Cleared Price refers to the weighted average price of IEX and PXIL combined.Source: IEX and PXIL, EY analysis

Cleared Volume (REC)Cleared Price(Rs/REC)

IREDA to raise INR72.9 billion for renewable projects: The Indian Renewable Energy Development Agency (IREDA) is planning to raise around INR72.9 billion through debt for its renewable project funding activities during the Twelfth Five Year Plan period. The company will borrow funds from different entities including the Asian Development Bank (ADB). The MNRE has requested ADB to provide a loan of around INR28.05 billion for IREDA’s operations over the next five years. The agency has recently unveiled a medium-term business plan for FY 2013−17, under which it anticipates new loan approval of INR24.77billion and disbursements of INR15.71billion for its renewable energy and energy-efficiency projects over the five-year period.

Green energy to get special loans from PSU banks: The Government of India plans to ask banks to carve out a special window to provide loans for renewable energy projects. The Reserve Bank of India (RBI) has decided that banks will provide direct funding to individuals to set up off-grid solar and other renewable energy solutions for households as priority sector lending and banks are being asked to step up their loans to individuals.

Nereus Capital raises as much as US$100 million for India fund: Northern Lights will contribute US$100 million to Nereus Capital’s India Alternative Energy Fund, which will include a US$40 million credit guarantee from the U.S. Agency for International Development (USAID). The funds will be used to construct around 400 MW of clean-energy capacity in India. Investments are likely to be made in wind, hydropower and solar utilities, as well as in large-scale energy efficiency projects.

State level initiatives

Table 1.5. Major state-level initiativesviii

State Measures/initiatives

Andhra Pradesh • New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) will encourage installation of solar panels by offering a 20% subsidy in addition to the 30% offered by the Union Government.

Chhattisgarh • The Chhattisgarh State Renewable Energy Development Agency (CREDA), an agency constituted under the Department of Energy, Government of Chhattisgarh, has signed an MoU with NTPC for the implementation of a geothermal-based power project in the state.

Kerala • The Kerala Government has decided to set up a drinking water project with capacity to provide 109 MLD of water at the cost of INR8.05b. The project will supply water to the residents of Kochi and its suburbs.

• Kerala State Electricity Board plans to create solar energy capacity of 350 MW in four years.

Punjab • The Punjab Energy Development Agency (PEDA) has finalized its allocation of 250 MW Solar PV power projects to 26 private players through reverse tariff-based bidding — tariffs range from INR7.20 to INR8.71 for the smaller category of 1 MW to 4 MW capacity projects and INR7.56 to INR8.74 for higher projects of capacity ranging from 5.3 MW and above.

• The Government of Punjab is planning to invite bids for 300 MW biomass power plants to be set up in the state.

Uttar Pradesh • The Government of Uttar Pradesh has selected seven solar energy projects with a combined capacity of 130 MW according to the single quoted tariff received from bidders on the basis of competitive tariff-based bidding.

Tamil Nadu • The Government of Tamil Nadu has allocated INR12.6 billion to the Chief Minister’s solar-powered greenhouse scheme for construction of 60,000 houses in 2013−14.

• Tirunelveli’s district administration is to set up a drinking water supply project from Tamiraparani to more than 100 habitats around the Kudankulam Nuclear Power Project (KKNPP) site, with an investment of INR680 million.

Uttarakhand • The Uttarakhand State Planning Commission has prepared plans to develop an INR3.51 billion drinking water network from the Lakhwar dam project, which will provide 330 million cubic meters (MCM) of drinking water to Delhi and other northern states including Rajasthan, Haryana and Uttar Pradesh.

Jammu and Kashmir

• The Jammu and Kashmir Energy Development Agency (JAKEDA) has started the process of allocating six mini hydle power (MHPs) projects, with a combined capacity of 9.5 MW, through competitive bidding.



Gujarat government announces new wind energy policy: The Gujarat Government has approved a new wind energy policy under which developers of wind power plants will be able to sell electricity to Gujarat Urja Vikas Nigam Limited (GUVNL) at INR4.15/unit, which is higher than INR3.56/unit mandated in the outgoing policy. The new policy also provides for wind power to be consumed for captive consumption on payment of wheeling and transmission charges. INR0.05/unit additional will need to be paid for captive consumption in more than one unit. After captive consumption, surplus units can be sold to government transmission companies at INR3.52/unit. Power producers will also have the option of selling wind energy to third parties after paying the requisite wheeling and transmission charges.

Madhya Pradesh formulates wind policy, targets 1.8 GW by 2014: The Government of Madhya Pradesh has formulated its Wind Energy Policy-2012. It wants to expedite implementation of around 5500 MW capacity projects through the private sector through this policy, and is expecting to reach 800 MW by 2013 and 1800 MW by 2014.

Thirty-five solar power bidders accept INR 6.49/unit offer from Andhra Pradesh: The state has received offers from 35 solar power bidders to set up projects in the state at INR6.49/unit price finalized by the Government. The total capacity of these offers is 418 MW, against the Government’s proposal to attract around 1000 MW.

Himachal Pradesh to roll out with new power policy to promote solar energy: The Himachal Pradesh Government has decided to initiate with a new power policy to harness solar energy in the state to preserve its depleting conventional resources and meet the increasing demand for electricity. The state is also exploring the possibility of tapping more hydro power and other non-conventional power sources.

Uttarakhand Government to initiate new renewable energy policy: Uttarakhand is planning to develop its renewable energy policy to promote generation of electricity from alternative sources. The draft policy emphasizes on increasing dependence on alternative power sources, including on the use of pine needles to generate electricity in areas where these are available in abundance.

Meghalaya to implement hi-tech renewable energy policy: The Meghalaya Government is contemplating a hi-tech, environment-friendly approach to counter power deficiency in the state. The policy is expected to facilitate electrification of remote villages through solar plants. The Government will also take steps to identify areas in the state that have potential for use of biomass to set up off-grid plants.

Sectoral updatesix


Notes:

• ►► The Quarterly review section covers some significant developments in India’s cleantech sector between 15 March 2013 and 21 August 2013.

• ► Exchange rates used from www.xe.com/ucc/ as on the day of reporting

• ► The figures have been rounded off to one decimal place.

Table 1.6: Major tie-ups announced with countriesx

Country Type of collaboration

Germany • ► The MNRE has signed an MoU with the Fraunhofer Institute for Solar Energy Systems (ISE) in Germany. The agreement covers research, demonstration and pilot projects with photovoltaic (PV) equipment, solar thermal power and hydrogen.

Table 1.7: State solar targetsxi

State Solar target (MW) Target year Capacity as on 31 March 2013 (MW)

Capacity awarded / under process

Total capacity tied up as on 9 March 2013 (MW)

Andhra Pradesh NA NA 23 418 78

Chhattisgarh 500 - 1000 2017 4 100 29

Gujarat 500 2014 858 959 969

Karnataka 200 2016 14 80 159

Kerala 500 2017 0 0 0

Madhya Pradesh 800 NA 37 200 212

Odisha 50 2013 13 50 78

Punjab 1000 2022 9 251 52

Rajasthan 10,000 - 12,000 2021−2023 553 75 331

Tamil Nadu 3000 2015 17 690 20

UP 500 2017 17 200 93


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xi. MNRE and news reports

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