Finance

The procurement – for PV capacity at the Dholera Solar Park – attracted bids for just 300 MW as developers shunned a tariff ceiling of Rs2.75/kWh.

India’s leading solar region has been forced to apply the brakes to new solar with its power distribution companies having fulfilled their renewable purchase obligations for the next two years. Projects driven by federal agencies will continue, however.

KKR has also applied to become a co-sponsor of the power infrastructure investment trust and plans to acquire additional 15% stake in it. The deal marks KKR’s first infrastructure investment in Asia.

The company has identified renewables, transmission and distribution, and value-added businesses such as rooftop solar, smart metering, electric vehicle (EV) charging stations and micro grids in rural areas as key growth areas.

Reduction in solar park charges was not enough to attract developers in the same numbers that flocked to a separate 500 MW exercise two months earlier. The Raghanesda Solar Park continues to be a headache after a previous attempt was cancelled because the tariffs were deemed too costly.

Founded in 2006, Bengaluru-based Orb is a rooftop solar provider that manufactures panels and provides finance for SMEs through a collateral-free loan that matches the payback period for its solar systems. Orb has sold more than 160,000 units in India, with cumulative installations of around 65 MW of PV rooftop capacity.

The Beijing authorities have confirmed the payment levels to be made according to type of project and region from July onwards but an auction process will be involved so the figures are for guidance only. No decision has yet been made on the 30 GW of capacity added since the end of May.

By 2050, energy use for cooling is projected to triple. Also by 2050, demand for cooling in countries such as India, China, Brazil, and Indonesia will grow fivefold, putting pressure on already strained energy systems and hampering efforts to curb climate change.

The Department of Science & Technology (DST), Government of India, and Swedish Governmental Agency for Innovation Systems (Vinnova) have created funding mechanisms through which companies may seek support for joint R&D projects. The projects should aim to develop renewable, energy storage and waste management technologies that can be commercialized over two years through joint cooperation between India and Sweden.

The Mumbai-based commercial solar player—which aims to more than double its customer base from 120 corporates to 300 by 2022—will use the amount to support its expansion of renewable energy portfolio from 500 MW to 2 GW in the next three years.