Installations

An Ieefa report has suggested the cost of generating electricity from solar will be near zero in the world’s sunniest regions by 2030-40 – despite what the naysayers at the International Energy Agency might think.

The hydropower producer—which recently diversified into solar power projects—has invited global applications as it seeks to empanel EPC agencies and module manufacturers for its solar projects. June 22 is the last date to lodge the interest.

The developer is reported to have exercised an option to double the 4 GW of solar generation capacity and 1 GW of cell and module production facilities it secured in the manufacturing-linked solar tender carried out by the Solar Energy Corporation of India in November.

Researchers from the Solar Energy Research Institute of Singapore have concluded that utility-scale PV projects relying on bifacial panels and single-axis trackers deliver the lowest levelized cost of energy in most of the world. They found that the combination of bifacial products with dual-axis trackers is still too expensive, despite the higher yield. The second-lowest LCOE is offered by monofacial single-axis tracker plants.

With this, the carmaker’s total solar power capacity has increased to 6.3 MW. The plant—developed in ‘carport’ style—will cover an area of 32,985 square metres and work as a roof for the cars parked underneath in addition to meeting internal energy requirements of the Gurugram facility.

The projects—to be developed in three phases of 1 GW each—are expected to be completed by year 2022-23. While the first and the third phases will be developed under public-private partnership basis, the second phase will be on the ownership model of REMCL and eligible for capital subsidy under the CPSE scheme.

The levelized cost of energy generated by large scale solar plants is around $0.068/kWh, compared to $0.378 ten years ago and the price fell 13.1% between 2018 and last year alone, according to figures released by the International Renewable Energy Agency.

The Indian renewable energy market is poised for a significant contraction during the five-year period due to weakening power demand growth, deteriorating financial condition of Discoms and further constraints in debt financing.

The new rooftop solar project will be the EPC provider’s third project for Indian Oil Corporation. It will cover ten buildings across the state-owned fossil fuel giant’s flagship Gujarat Refinery and its residential township.

The plant—Oman’s first renewables-based independent power project—is also the world’s biggest single-unit solar park to use bifacial modules.