The French oil and gas giant already owns half the stake in the Indian developer’s 2.3 GW operational solar assets in India through a joint venture.
The nation has earned the highest score of 62.7 in terms of attractiveness for solar PV investment and deployment in the latest ranking of top 40 countries by Ernst & Young.
France’s Sunbooster has developed a technology to cool down solar modules when their ambient temperature exceeds 25 degrees Celsius. The solution features a set of pipes that spread a thin film of water onto the glass surface of the panels in rooftop PV systems and ground-mounted plants. The cooling systems collect the water from rainwater tanks and then recycle, filter and store it again. The company claims the technology can facilitate an annual increase in power generation of between 8% and 12%.
While the stake sale in solar portfolio will allow Adani to carry out its contracted pipeline efficiently, it could also mean commercial & industrial (C&I) rooftop as a growth opportunity for both the companies—according to Wood Mackenzie analysts.
The French oil and gas giant—which is already a partner in Adani’s natural gas business—will now invest US$ 510 million to buy 50% stake in 2,148 MWac operating solar power projects owned by Adani Green Energy Limited.
The first Indian power plant, with a capacity of 5.5 MWp, was inaugurated in 2017 in the state of Uttarakhand. With the just commissioned photovoltaic power plant of 27 MWp, the developer claims to offer the lowest price of solar electricity in the Indian state of Maharashtra.
The annual global outlook report for solar published by IHS Markit notes there was no real uptick in the amount of new capacity added last year, compared with the returns seen in 2018. That is likely to kill any hope India has of overtaking the U.S. as the world’s second biggest solar market in 2020.
Market intelligence company Navigant Research has developed a country forecast of the global market. Incentives and pricing will be the main driver of installations, though the market will continue to be concentrated in certain key regions, including India, for now.
TES issued a press release announcing the new facilities that is light on detail but claimed the plants would position it as ‘a leader’ in battery recycling. The company also announced an intent to move into the reuse of spent electric vehicle batteries in commercial and residential applications.
The invention converts energy produced by PV cells directly into mechanical motion without batteries or power electronics. Its developers claim the solar motor can drive irrigation water pumps and ventilation turbines for more than 20 years without maintenance.
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