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About IREDA

Solar Market in India, 2012 “ K ey risks and challenges associated with solar projects” 29 th August, 2012. About IREDA. Established in 1987 as a Public limited Government Company under the Companies Act, 1956

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About IREDA

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  1. Solar Market in India, 2012“Keyrisks and challenges associated with solar projects”29th August, 2012

  2. About IREDA • Established in 1987 as a Public limited Government Company under the Companies Act, 1956 • Promotes, develops and extends financial assistance for RE and Energy Efficiency/Conservation Projects. • Mission : “Be a pioneering, participant friendly and competitive institution for financing and promoting self-sustaining investment in energy generation from Renewable Sources, Energy Efficiency and Environmental Technologies for sustainable development.” • Motto is “Energy for Ever.”

  3. IREDA’s Role • As a financing institution • Financed 15 projects - JNNSM, Gujarat Policy, RPSSGP & GBI scheme of MNRE of a total capacity of 60 MW out of which 13 have been commissioned. • Acted as Programme Administrator for RPSSGP projects. • Out of the total 78 projects (98.05 MW) under RPSSGP, 65 (81.55 MW) commissioned • PLF 17-20% • GBI routed through IREDA for various schemes like RPSSGP/GBI Scheme of MNRE

  4. Key Growth Drivers for Solar in India Electricity shortage estimated at 25-35 GW, likely to increase to 100 TWh by 2017 In next 12 years India’s electricity requirement to grow 2.5 times 400 Million people still without access to electricity Climate Change is also an important issue High radiation available 4-6kWh per sq. m per day India is dependent on oil imports for 80% of its demand, increase in conventional energy prices by 8-10% in last 6 months

  5. Enabling Policies/Schemes • The Electricity Act, 2003 – SERCs to specify RPOs • The Tariff Policy, 2006 – setting solar specific RPOs for states • Amendment in Tariff Policy, January 2011 – SERCs to specify a min. percentage of solar power to be purchased by discoms – upto 0.25% by end 2012-13 and up to 3% by 2022 • National Action Plan on Climate Change (NAPCC) – RE electricity injection into grid to be 5% starting from 2009-10 and to increase 1% every year to achieve 15% at the end of 2019-20 • Jawaharlal Nehru National Solar Mission (JNNSM) – Migration Scheme, New projects scheme, RPSSGP etc. • State Solar Policies – Gujarat, Rajasthan, Karnataka etc., Gujarat being the 1st one to notify solar policy in 2009 i.e. before launch of JNNSM • Solar Specific Renewable Purchase Obligation (RPO) – 26 states have their RPOs in place • Solar specific RECs – 1st solar REC already issued to M&B Switchgear

  6. Contd./- • Various states gearing up and introducing their solar policies • CERC - comprehensive tariff regulations for RE based power • CERC has waived interstate transmission charges and losses for entire life of solar projects commissioned in 2012-13. For under or over-generation, the developer is not liable to pay or receive any unscheduled interchange charges

  7. JNNSM Road Map 7

  8. Growth in Solar Installations, Manufacturing

  9. Current status of JNNSM Phase-I

  10. State Scenario Gujarat • 1st to notify solar policy in 2009 i.e. before the launch of JNNSM • Allocated 1200 MW of solar PV & thermal projects • Signed PPAs for 968.50 MW of which 680 MW is commissioned Rajasthan • Plans to set up 12 GW by 2022 Karnataka • Targets solar capacity addition of 350 MW by 2016 under its policy notified in July, 2011 • In mid April, 2012, 80 MW allotted Maharashtra • To set up 125 MW PV plant at Dhule Madhya Pradesh • Targets setting up of 800 MW (4 solar parks of 200 MW each) • Clearance awarded for setting up 297 MW. Orissa • Targets 50 MW by 2012-13 UP • Draft released, target of 1 GW by 2017

  11. RPOs of various states

  12. Tariff for Batch I & Batch II projects

  13. Recent developments • Melt down in the US Economy and Eurozone Effect • Disproportionate Supply & Demand scenario resulting in unexpected cost reduction • Major solar manufacturers from all over the world showing interest in India • Immense investors’ interest • Reduction in Tariffs • Abrupt increase in installed capacity from 3 MW to approx. 1 GW in 3 years

  14. Issues & Barriers • Technology • Financing • Policy

  15. Technology related issues • Solar grid power projects new to India - Lackof adequate technical expertise • Compromise in quality for cost cutting • Lack of sufficient authentic irradiation data – Data from Meteonorm, NASA etc. being used which is quite different from actual data • Delay in Evacuation / Transmission facility • Lack of skilled Project Management staff • Non- availability of stable grid • Lack of best practices for Operation & Maintenance • Lack of availability of quality water for cleaning purposes

  16. Finance related Challenges • Financial closure not achieved on time • Uncertainty of payment by utilities for long period i.e. 25 years • Non-availability of ground data at site and excessive variation in satellite data from various sources • Many developers not opting for external EPC Contracts and implementing projects in their own capacity without adequate experience thus increasing risk • Wide variations in costs using similar components & technology • Contract clauses not adequate w.r.t. • LDs, penalties, Performance guarantees, insurance • Inadequate specifications • Improper selection of inexperienced / quality vendors for BOS • More time taken for obtaining clearances, Usual time taken for N/a use is 6 months • No planning forsupply of water during construction and O&M • Unreasonable time lines at various stages like financial closure, COD etc. with substantial financial implications

  17. Contd./- • Critical Financial health of utilities • Delay in Landallotment / possession before financial closure • High project costs, not commensurate with low tariffs, viability is an issue • Unrealistic generation projections for the projects

  18. Policy related Barriers • RPO yet to enforce fulfillment • REC mechanism– yet to be fully realized for Solar • Not adequate support available for indigenous module manufacturers

  19. Suggestions/Challenges • Single window Clearances to be encouraged • Techno-commercial viability of projects to be critically examined before bidding • PLFto be realistic considering de-rating and heat & dust losses • Condition of substation (downtime) to be critically examined • Experienced EPC Contractors to be selected • EPC Contractors to give back to back guarantees/warranties

  20. Contd./- • Realistic radiation data to be used (ground data). CWET has set up 51 solar radiation monitoring systems to measure on-ground data. • Domestic Solar PV Manufacturing sector needs additional support • State transmission companies to ramp up their transmission infrastructure • To ensure timely implementation of CSP projects allotted and performance evaluation • Strict compliance of RPO will ensure more projects under REC

  21. Thank you

  22. Analysis of generation data

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