SunEdison planssolar parks for commercial & industrial establishments in Tamil Nadu

 

SunEdison is planning to establish a solar park of 18 MW capacity in Tiruneveli, Tamilnadu. It is also looking at more such parks in the State as more numbers of commercial establishments and industries are expected to go in for solar power systems.

With the option of open access, there is opportunity for more number of commercial and industrial electricity consumers to go in for solar power.

The company has installed over 12 MW solar energy systems in the State and solar pumpsets are a focus area. Farmers will be able to use the land during dry months too with solar power systems.

Regarding market for solar energy across the country, company said that Gujarat and Rajasthan lend more to solar energy because of the geographical advantages. Maharashtra, Karnataka, Andhra Pradesh and Telangana have favourable solar policies.

The company sees opportunities in rural electrification scheme. Off grid installations reduce grid power consumption in rural areas and these are small panels with battery. It has done these projects in about 100 sites in different States.

 

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2,66,000 MW Renewable Energy Projects commitment given by 293 companies

 

During the first Renewable Energy Global Investors Meet (RE-Invest), commitment to develop as much as 2,66,000 MW of Renewable Energy Projects has been given by around 293 companies. 

Some of them have also assured to put up equipment manufacturing plants as well.

 

• Renewable energy companies including Suzlon and Gamesa have committed to manufacture equipment to help generate 11,000 MW and 7,500 MW of power respectively to be used in the non conventional energy side.
• Country's largest power producer NTPC has also said it would generate 10,000 MW of power through green sources in the next five years.
• Among others are Welspun Energy with a target to generate 11,000 MW renewable energy, followed by ReNew Power 11,500 MW capacity, Reliance Power 6,000 MW, Hindustan Powerprojects 10,000 MW and Sun Edison 15,000 MW.

Country's biggest lender SBI has said it will finance 15,000 mw renewable energy over the next five years.

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SunEdison Rural Energy Fund Recognized As 501(c)(3)...

 

California-based solar energy services firm SunEdison says its SunEdison Rural Energy Fund (SREF) nonprofit has received Internal Revenue Service recognition as a 501(c)(3) public charity.

SREF focuses on providing solar energy to hospitals, schools and other institutions in rural and remote areas that cannot afford the upfront costs of a photovoltaic installation.

"We are combining our efforts to help provide electricity to rural populations with not-for-profit organizations," says Ahmad Chatila, president and CEO of SunEdison, citing one program to install solar-powerd water pumps to villages in India. “Supporting SREF allows us to extend our reach to other geographies where there are people in need."

SREF's SunFarmer provides long-term financing and technical assistance to health clinics and schools that can benefit from solar, but can't afford the upfront cost.

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Tata Cleantech to fund Rs.2,500 crore for renewable energy projects in India...

 

Tata Cleantech Capital Ltd may fund as much as Rs.2,500 crore ($401 million) of renewable and energy-efficiency projects in India as costs for coal-based power prompt companies to turn to alternatives.

“The combined cost of grid power and diesel generators that many companies use today is higher than solar,” Avijit Bhattacharya, chief executive officer (CEO) of the lender set up jointly by Tata Capital Ltd andInternational Finance Corp., said in an interview in Mumbai.

“That’s creating an opportunity to fund clean-technology projects that help companies reduce their power bills without relying on subsidies,” he said. Solar power can be produced for as low as Rs.8 per kilowatt-hour compared to the Rs.11that some commercial buildings outside Mumbai pay for electricity, he said.

India’s 29 gigawatts of renewable capacity was mostly built with the help of government subsidies and tax breaks. In the past year, falling renewable costs and rising fossil-fuel prices have made it possible in some cases for wind and solar to compete in the power market without support.

The average tariff for electricity sales in Maharashtra state, home to the financial hub of Mumbai, has risen by 71% in two years, according to data from the government’s Planning Commission and the Maharashtra Electricity Regulatory Commission.

SunEdison Model

Solar installations and energy-efficiency projects require large, initial investments and generate savings over time. Tata Cleantech, which began operations in April, plans to fund energy-services companies that will allow customers to reap those rewards without the capital outlay.

Many companies are interested in the benefits, but they’re not keen to invest upfront, Bhattacharya said in the interview on 29 November. It’s the emergence of energy-services companies that will drive this sector in India. It won’t happen without them.

Such companies could invest in a solar installation, run it, and sell the output under a long-term contract to a consumer at a competitive rate, he said. That model is similar to the one developed by St. Peters, Missouri-based SunEdison Inc., which has raised more than $3 billion in project financing from investors including Goldman Sachs Group Inc. to build 883 MW globally.

“We’re in advanced talks with a couple of them for potential funding”, he said, referring to energy-service companies that he declined to name. “We should see some action in the next four to six months.”

Tata Cleantech has participated in group loans to companies building about 350 MW of mostly wind projects. In the next five years, it expects to help fund 2,000 MW of renewable projects.

Source: Livemint & Bloomberg

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SunEdison Launches Solar Water Pumps in India...

 

SunEdison , a leading solar technology manufacturer and provider of solar technology and solar energy services, today launched the SunEdison Solar Water Pump, a high performance solar PV-based water pump specially designed for agriculture. The Solar Water Pump will address a significant market, and help increase crop yield by delivering reliable irrigation without dependence on expensive diesel fuel or intermittent electrical power supply.

Commenting on the launch, Mr. Pashupathy Gopalan, President, SunEdison, Asia Pacific, GCC and South Africa said, "SunEdison is committed to transforming lives through innovation. Our solar water pumps empower farmers to grow cash crops that require predictable irrigation and enables them to utilize land that they previously could not irrigate."

The SunEdison solar water pump, designed by R&D teams in California, USA and Bangalore, India, is an attractive solution for farmers who need year-round cultivation and predictable daytime irrigation.  According to a study by IIT Bombay, effective irrigation can lead to a significant increase in yield. Thus, solar water pumps can result in improved yields and can even provide an additional crop each year, enhancing food security. Solar pumps also benefit electricity supply companies and surrounding communities by reducing strain on the grid. Intended for use in rural environments, these innovative pumps feature rugged structural design, and are available in 3HP (horsepower), 5HP, 7.5HP and 10HP variants.

"SunEdison's solar water pump solution addresses and enables a large and growing market," said Ahmad Chatila, President and CEO of SunEdison. "It is a tremendous opportunity for us to grow our business and help people transform their lives."

SunEdison aims to bring the best in technology and quality to our customers. The solar pumping systems are designed with state of the art features and provide best-in-class performance. An intelligent pump controller continuously monitors power available from solar PV modules and drives a high-efficiency 3-phase AC pump at variable speeds to use every watt of power available and provide water through the day. Rugged industrial design ensures reliable performance in the most adverse operating conditions and ensures reliable and safe operation for over 15 years, while allowing for easy maintenance.

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IFC to finance Rs. 750 Million equity to SunEdison…

Power India found that International Finance Corporation (IFC), is planning to invest around Rs. 750 Million equity to SunEdison along with possible funding of Rs. 2.9 Billion depending upon certain future conditions. 

 

The funds are intended to support the growth,development and construction of SunEdison’s PV power projects in South Asia, South East Asia and sub-Saharan Africa.

 

The above transaction will take place in a way that, IFC will acquire a 15% stake in SunEdison Energy Holding (Singapore) and Sun Edison Energy Holdings B.V., two holding companies incorporated by SunEdison LLC, in Singapore and the Netherlands, respectively.

 

As said by Pashupathy Gopalan, SunEdison’s Managing Director, South Asia and sub-Saharan Operations:

“SunEdison recognizes the potential of the South Asian and Sub-Saharan regions for solar power generation and is one of the leading solar energy platforms across the region. Driven by economic growth and an emerging focus on energy security in these regions, countries in the region are assessing and supporting alternative energy sources.

 

Anita George, IFC Director for Infrastructure in Asia also said:

“IFC is engaging across the entire solar PV supply chain to improve its economics. We are doing this by enabling pioneering projects under new regulatory support schemes and increasing economies of scale in downstream installations.”

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Narmada canal network has potential to produce 2,200 MW of solar power, to save 11000 acres of land…

If even 10 per cent of the 19,000 km-long Narmada canal network in Gujarat is used for setting up canal-top solar panels, it has the potential to produce 2,200 MW of solar power, save 11,000 acres of land that would otherwise be used and prevent 2,000 crore of precious water from evaporation annually, the Chief Minister, Mr Narendra Modi, said.

Also, canal-top solar power equipment produces 15 per cent more power than the plant set up on land as the water flowing underneath keeps the solar panels relatively cool and helps generate more power, he said. He was inaugurating India's first 1 MW canal-based solar power project, commissioned on the Sanand branch canal near Chandrasan village of Kadi taluka, Mehsana district.

The State Government was compelled to take up this project through Gujarat State Electricity Corporation Ltd (GSECL), as no developer was ready to take the challenge at that time, he said.

The 1 MW plant, set up over a 750 meter-long stretch of the canal, commissioned in February, will generate 16 lakh units of clean electricity and prevent evaporation of 90 lakh litres of water from the canal annually.

The length of the Narmada Main Canal, constructed under the Sardar Sarovar Project (SSP), is 458 km. The Sardar Sarovar Narmada Nigam Ltd (SSNNL) has so far constructed about 19,000 km long canal network, out of the 75,000 km planned for the entire project.

Sun Edison’s new technology proposal

Meanwhile, SunEdison India, which developed the canal-top project for GSECL, is promoting a new, sun-tracking solar panel technology in which the panels, like sunflower, follow the sun's movement across the sky.

As said by Mr. Pashupathy Gopalan, MD, SunEdison India:

“It costs about Rs 2 crore a MW more than the traditional technology. Our 10 MW plant in Surendranagar district has demonstrated that it produces more power,”

Interestingly, SunEdison has also installed a 15 kW solar power plant in Minwada village of Guna district in Madhya Pradesh, which is the only power provider to 75 families of the remote village.

At present, SunEdison is producing 50 MW of solar power at various sites in India, including 45 MW in Gujarat alone, he added.

 

 

 

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SunEdison puts seven India projects on the block…

According to reports, SunEdison, a solar power developer and a subsidiary of the US poly-silicon major MEMC, is looking to sell 49 per cent stake – the most allowed under the power purchase agreements – in seven of its solar projects in India. (Each project is under a company and SunEdison wants to sell 49 per cent in each.)

Sources close to the development say that a US-based company is in talks with SunEdison for this.

Sources among investment bankers have told Business Line that these seven projects total to a capacity of 52 MW. The biggest of the seven is the 25-MW project in Patan, Gujarat. The others are: three in Surendranagar (Gujarat), Sirohi and Jodhpur in Rajasthan and Jhansi in Uttar Pradesh.

SunEdison estimates that over the lives of these projects, they would earn $140.69 million net cash, i.e., tariff and carbon credit revenues minus development costs, maintenance costs and taxes. Forty-nine per cent of this works out to $68.94 million.

Projects other than Patan (25 MW), Sirohi (1 MW) and Jhansi (1 MW) are jointly-owned. While IDFC is the co-owner of the Jodhpur project (5 MW), OPIC, a part of the US government and L&T Infra Finance are the co-investors of the Surendranagar projects.

Incidentally, only last week did SunEdison announce raising $110 million in debt from OPIC, L&T Infra and IDFC.

These seven projects are in various stages of completion. All of them will be generating solar electricity by January 2012.

How the stake-sale pans out is a matter of great interest to the solar industry globally. This is because India is a very recent entrant in the solar power generation sector but is a big and growing market.

With sunshine all through the year, India is a promising solar nation, where the panels are expected to produce more than in, say, Europe or the US.

However, there are other issues such as difficulties in project implementation, and the absence of solar irradiance data. SunEdison’s success in putting through the stake-sale deal will kind of become a benchmark for others

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Floating Solar power plant on Narmada branch canal near Sanand…

Earlier this year, Tata power partnered with Sunengy, Australia to build the first floating solar plant in India. The construction of the pilot plant in India is expected to commence in August 2011.

The Punjab government in June this year approved the setting up of a project which will generate solar power by utilizing the space over irrigation canals in the state.

 

According to reports, Sanad is now gearing up to house yet another first-of-its-kind project – a solar power plant to be built on Narmada branch canal passing through the town.

As part of a novel concept mooted by the Gujarat chief minister Narendra Modi, the Gujarat government has decided to install solar power panels on one km stretch of Narmada branch canal near Sanand.

“To be developed on public private partnership (PPP) model, the solar plant on Narmada branch canal would generate one Mw of power, once fully operational,” said a top government official.

Interestingly, the solar project is expected to save 100,000 litres of water a year by reducing evaporation of canal water in that particular stretch of one km. The entire stretch would be covered by solar panels, thereby reducing evaporation of water.

As per the industry estimates, a 1 Mw solar power project roughly requires five acres of land. “Installation of solar panels on river canals would also take care of land issue for solar power project,” the government official added. The state government has already roped in one of the leading companies in solar energy space. SunEdison, a subsidiary of US-based global solar energy player MEMC, will be executing the project near Sanand. “This is for the first time such a project is being developed in India,” said a senior official of SunEdison.

The state government has already cleared the project and a new company is being floated to develop the project. “There are different concepts being developed for solar power generation. Developing a solar power generation facility on the water canals is one of such concepts. But for any such effort, first of all a feasibility study needs to be carried out as it is entirely a different ball-game than the existing projects being developed in India,” says Pranav Mehta, founder chairman of Solar Energy Association.

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