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Madhya Pradesh

SkyPower Signs 150 MW Solar Power Sale Agreement In India

by Saurabh Mahapatra October 12, 2015

SkyPower, one of the leading renewable energy project developers globally, has signed a power sale agreement for the projects it had secured in a competitive auction held June 2015.

SkyPower, through a subsidiary–Mauritius-based SkyPower Southeast Asia Holdings–secured rights to develop 3 projects of 50 MW capacity each at tariffs ranging from Rs 5.051/kWh (7.95¢/kWh) to Rs 5.298/kWh (8.34¢/kWh). The power sale agreement was signed with the Madhya Pradesh Power Management Company Limited.

One of those 3 bids remains the lowest-ever bid in India. The bid placed by SkyPower is 28% lower than the tariff determined by the Central Electricity Regulatory Commission (CERC) for the current financial year. The CERC has determined a tariff of Rs 7.04/kWh as a financially viable rate for solar PV projects.

The projects are likely to be commissioned together at a single site, and the overall project would likely be the largest solar power project in the state developed by a single developer. Welspun Energy currently operates 151 MW (DC) of solar power projects in the state.

Several international companies are working to set up projects in Madhya Pradesh. The June auction saw participation from global leaders like SunEdison and First Solar. SunEdison is setting up a large-scale solar power project, outside the ambit of auctions, in Madhya Pradesh. Earlier this year, SunEdison signed a power sale agreement with Tata Power Delhi Distribution Limited, a Delhi-based utility. The agreement is for 180 MW capacity for 20 years.

SkyPower has set a target to add 9.9 GW solar power capacity in India over the next 5–7 years. The company plans to soon announce the launch of its India Solar Fund, which will provide a platform for investors, partners, and stakeholders to invest alongside SkyPower and participate with SkyPower as it grows throughout India.

October 12, 2015 0 comment

1 GW Of Solar Planned By Indian Coal Mining Firm

by Jake Richardson October 9, 2015

written by Jake Richardson

Coal India Limited (CIL) is reportedly planning to construct solar power projects in a number of areas of India totaling one gigawatt of capacity. CIL wants to reduce its carbon footprint and plans to finish a 250 MW installation in the Madhya Pradesh area within twelve months.

A memorandum of understanding was signed between the Solar Energy Corporation of India and CIL, but one issue that might delay the remaining 750 MW of projects is finding appropriate sites. Orissa, Bihar, and Jharkhand have been suggested as possible locations, as have Chhattisgarh and Maharashtra.

It’s commendable that a coal mining company would seek to reduce its carbon footprint — the thing is, it is basically being forced to. One gigawatt of solar is quite a large amount, but India is a massive country — one of the most populous on Earth. It has ambitious clean energy goals, and surely will achieve many of them, if not more.

Adding new solar capacity is not only about reducing climate change emissions, though. Solar power plants can be built faster than coal plants, so they have a value that coal plants do not, to fill in gaps in electricity supply. They also can help shore up electrical grids that are overburdened and serve somewhat as backups when there are disruptions.

Due to the decline in solar costs, they also simply make sense financially in some cases, where they are more cost-competitive than fossil fuels. They also don’t produce enormous amounts of harmful air pollution, and some urban centers in India have far, far too much of that already. It is very sensible of the government to require that its agencies and government-owned companies use cleaner energy.

Constructing solar power plants also creates a lot of new jobs, and sometimes these new plants are located in areas with high unemployment, so they contribute to local economies by providing clean energy jobs.

Image by Bernard Gagnon, via Wiki Commons

October 9, 2015 0 comment

Solar Projects

SkyPower Awarded 2,850 MW In 1 Week

by Joshua S Hill October 7, 2015

written by Joshua S Hill

In the space of one week, SkyPower, one of the world’s leading solar PV developers, has acquired orders worth 2,850 MW.

Between October 1 and October 6, SkyPower, the self-proclaimed “largest and one of the most successful developers and owners of utility-scale solar photovoltaic (PV) energy projects in the world,” announced that it had been awarded four separate contracts in four countries on three continents totaling an impressive 2,850 MW.

2 GW in Bangladesh

Announced during the 70th United Nations General Assembly in New York, SkyPower unveiled its historic agreement with Bangladeshi Prime Minister Hasina to build a whopping 2 GW of utility-scale solar energy over the next five years.

The agreement, which is worth an investment of $4.3 billion, also sees SkyPower gifting 1.5 million SkyPower Home solar kits to Bangladeshi residents over the next five years. In addition, then, to utility-scale solar projects which will be able to provide energy to the masses, SkyPower is also making energy available to those in rural areas who may otherwise be forced to rely on older, and more expensive, fossil-fuel based energy sources.

“SkyPower is proud to help Bangladesh achieve its sustainable development goals,” said SkyPower President and Chief Executive Officer Kerry Adler. “The investment in Bangladesh will help increase grid connectivity, ease energy poverty and create new green energy jobs.”

“The new development agenda makes it clear that all our actions need to be underpinned by our strong commitment to protect and preserve our planet, our biodiversity and our climate. We have only a small window of opportunity and we must succeed to set the world on a safer, greener, and more prosperous path,” said Prime Minister Sheikh Hasina at the 70th UN General Assembly.

“SkyPower’s $4.3 billion USD investment will create more than 42,000 total job years in Bangladesh and will include 500 MW of fabrication and assembly facilities,” said SkyPower Chief Commercial Officer, Charles Cohen.

200 MW in Djibouti

Also announced on October 1, SkyPower revealed that it has signed “a landmark agreement” with the North African Republic of Djibouti for the development of 200 MW of solar projects, set to be built out in four phases over the next four years.

SkyPower will make an investment of $440 million, including corporate social responsibility investments of $11 million toward education, training, research, and development in Djibouti.

“Africa has become a global hub for the growth of clean, renewable energy, and many visionary leaders of African countries are making the decision to harness the power of the sun to create a brighter future for the citizens of their countries,” said Kerry Adler. “Through this agreement, SkyPower will work hand in hand with the Republic of Djibouti to support the development of the country’s renewable energy industry and achieve the goal of developing a stronger economy and opportunities for the citizens of Djibouti.”

150 MW in India

The third announcement made on October 1 was news of a 150 MW utility-scale solar agreement with the Government of Madhya Pradesh, India.

“SkyPower is committed to making a powerful contribution to India’s goal of generating 100 gigawatts of solar power by 2022,” said Kerry Adler. “India is leading the world in deploying solar, not only with its significant targets but by its very actions, and the people of Madhya Pradesh will benefit from clean, reliable and affordable energy as a result of the vision and leadership of this great state.”

“Renewable energy is a big focus for the State of Madhya Pradesh and signing this power purchase agreement with SkyPower highlights our commitment,” said Mr. Sanjay Kumar Shukla, IAS, Managing Director, M.P. Power Management Company Limited (MPPMCL). “SkyPower is a globally renowned company and we are sure that our partnership will pave the way for a wave of solar energy projects to support India’s renewable energy mission.”

500 MW in Panama

Kerry Adler, SkyPower President and Chief Executive Officer, and Panamanian President Juan Carlos Varela shake hands at the breakfast announcement in New York. (PRNewsFoto/SkyPower)

Finally, in a press release published on the 6th of October, SkyPower revealed that it had signed a second agreement during the 70th United Nations General Assembly in New York, this time with Panama’s President Juan Carlos Varela, to build 500 MW of utility-scale solar energy over the next five years.

The agreement represents an investment of $1 billion, and in addition to the agreed-upon 500 MW, SkyPower will also construct a $50 million world-class solar and environmental research center in Panama, which will be dedicated to the advancement of solar PV in the country, as well as advanced research and innovation in environmental sciences.

On top of that, and to really put the icing on the top of this week-long parade of announcements, SkyPower will also fund 250 scholarships for Panamanian students who are studying in the field of solar technology and environmental sustainability. The scholarships will be doled out 10 per year, over the next 25 years.

“SkyPower invests in countries that uphold environmental sustainability and preservation while advancing their economies and industries,” said Kerry Adler. “The future of Panama looks bright, as the leadership of Panama is clearly focused on the need for clean renewable energy and has embraced solar as a cost-effective means of addressing Panama’s energy needs today, and as a critical part of its generation mix for its bright future.”

October 7, 2015 0 comment

Solar Policy

Indian State Madhya Pradesh To Add 3 GW Solar Power Capacity In 2 Years

by Saurabh Mahapatra August 29, 2015

written by Saurabh Mahapatra

According to an announcement made by senior government officials, the Indian state of Madhya Pradesh plans to enhance its solar power generation capacity to about 3 GW in the next two years.

Domestic as well as international developers are bidding aggressively for new projects in the state due to availability of vast barren land, high solar irradiation, and favourable solar policy in the state. The government of Madhya Pradesh has introduced single-window clearance for solar projects that is helping the developers in speedy implementation of the projects — the approval process was once considered to be the major reason for the project delays in the state.

The state government plans to build one of the largest solar power parks in the world, one with 750 MW of capacity, in the Rewa district. The project will be built on 1,500 acres of land and is expected to be operational by 2017. The state’s energy Minister, Rajendra Shukla announced that global tenders for the solar project will be sent out shortly.

Madhya Pradesh has always been on the forefront of the development of solar power. The current installed capacity stands at 650 MW, and 1,500 MW of projects are under implementation. The state’s installed solar capacity is currently placed third after Rajasthan and Gujarat. The state is also home to the largest solar power project in India developed by a single company.

Recently, Madhya Pradesh offered a capacity of 300 MW to prospective project developers. The tender was oversubscribed over 12 times with project developers offering to develop over 3.7 GW of capacity. The action yielded the lowest-ever solar power tariff in India.

Mauritius-based SkyPower Southeast Asia Holdings secured rights to develop 3 projects of 50 MW capacity each at tariffs ranging from Rs 5.051/kWh (7.95¢/kWh) to Rs 5.298/kWh (8.34¢/kWh).

August 29, 2015 0 comment

PV Solar $Solar Policy Solar Projects Solar Records

SkyPower Wins 150 MW India Solar Bid At Record Tariff Of 7.95¢/kWh

by Saurabh Mahapatra July 18, 2015

written by Saurabh Mahapatra

India’s solar power market has a new lowest tariff as a subsidiary of SkyPower won rights to develop 150 MW of solar power photovoltaic capacity in the state of Madhya Pradesh.

Madhya Pradesh had offered a capacity of 300 MW to prospective project developers. The tender was oversubscribed over 12 times with project developers offering to develop over 3.7 GW of capacity.

Mauritius-based SkyPower Southeast Asia Holdings secured rights to develop 3 projects of 50 MW capacity each at tariffs ranging from Rs 5.051/kWh (7.95¢/kWh) to Rs 5.298/kWh (8.34¢/kWh). The previous lowest bid in India were placed by First Solar at Rs 5.25/kWh (8.27¢/kWh) for a 40 MW project in Andhra Pradesh.

The bid placed by SkyPower is 28% lower than the tariff determined by the Central Electricity Regulatory Commission (CERC) for the current financial year. The CERC has determined a tariff of Rs 7.04/kWh as a financially viable rate for solar PV projects.

The record low tariff bids have put in question the requirement of subsidies for solar power projects. Later this year, the central government plans to auction solar PV projects with a component of viability gap funding in the tariff.

SkyPower won bids for the projects by beating some of the leading Indian and international project developers, including Suzlon Energy, Reliance, Adani Power, ACME Solar, Welspun Energy, First Solar, and SunEdison.

July 18, 2015 0 comment