Recent news :
Giriraj Renewables, part of Avaada Energy, emerged as the biggest
winner getting 300 Mw at Rs 2.44 per unit.
====================
Wondering what is going on ?
I will tell you . It is a mess !
* Coal based power projects of approx 40,000 MW are "
stressed " with total NPA of Rs
2 lakh*crores . Those which are struggling to
survive , are likely to close down soon .
They are uneconomical
since operating at PLF of under 50 %
* Those which are efficient / profitable , are starved
of coal
* Safeguard Duty ( 25 % ) has made solar producers to
keep away from recent tenders
Between march and July ,
some 3900 MW of solar capacity auctions got cancelled – of
these 1,000 MW have been re-tendered
* Safeguard Duty is unlikely to help the local (
domestic ) Solar Panel Industry because
Chinese manufacturers ( exporters ) are
expected to drop their prices by 30 % by Dec
2018 , since their local ( Chinese ) demand
has dropped dramatically and they have
huge capacities which are idling ! They are
desperate to sell to India
* On top of this , Chinese manufacturers are making
significant improvement in the
efficiencies of their Solar PV modules /
Panels , so price per Kw is dropping
* Recent Solar tenders stipulated " Max Price per
Kw " - which is keeping our solar
producers away from
quoting
* State DISCOMS are backing out of already signed PPA with
the Solar producers and
demanding re-negotiation of tariff !
* Many solar projects are ready to deliver power but the
Transmission Lines are just not
there !
* In all of this confusion , no banker wants to advance loans
to projects which may turn
into NPA even before going on stream !
* Even for viable Solar projects , bankers are afraid to make
commitment for fear of
being hounded by CBI - RBI
- SEBI – etc
As a result of all of these , it seems highly unlikely that we
would manage to meet our Solar Power target of 100 GW by 2022 , with current installations
of just 23 GW ( - leaving a balance of 77 GW to be achieved in next 51 months !
Nearly 4.5 GW / Qtr )
What is the way out ?
·
Shift focus to Roof Top Solar ( of course ,
continue with Utility Scale )
·
Why Roof Top ?
No
Govt tendering / No transmission lines / No PPA with DISCOMs / No metering
/ No
land cost / Hundreds of small suppliers who will compete / quote / install /
commission / maintain / service / 30 % Govt
subsidy
·
What is holding back the roof top ?
# Local permissions / Subsidy procedures / Balance
70 % of Capital Cost to be
borrowed from banks @ 15 % interest (
tedious procedures / guarantees /
collaterals ) . Individuals stand no chance.
Only Coop Hsg Societies benefit
# Bribing of electricity suppliers’ officers
for “ reverse metering “
# Non availability to store the power for use
at night ( lack of Storage Batteries )
·
What is required to be done ?
# Amend Electricity Act ( Anyone can generate
solar power , anywhere , any time
and
sell to any one at any price )
# Create SOLAR BANK ( SPV ) , where BLACK
MONEY can be deposited ( Fixed
Deposits of 5 year maturity which cannot
be terminated midway but can be gifted
to
anyone )
# For depositing BLACK MONEY in SOLAR BANK ,
no questions by Income Tax Dept
as
to the source / no tax / no penalty / no prosecution ( $ 400 Billion
assured )
# FD will earn 1 % interest
# Solar Bank will finance Roof Top projects at
2 % interest rate ( to replace 70 %
Bank
funding of 15 % interest rate ) .
This will accelerate installations to exceed
the
targets .
Solar Bank to tie up with India Post Payment Bank to extend such
loans through its network of 145,000 post
offices
Solar Bank will extend such loans
to EV
Battery Charging Stations which do not
draw power from the grid but generate their
own solar power
# It should be made mandatory for all those 22
million Affordable Houses ( also
targeted for 2022 ) to have pre-installed Roof
Top Solar plants , before handing
over
to the occupants
References :
Roof
Top Solar : Better Alternative
Clean
Power ?
Solar
Roofs ? Why not ?
Solar
Power : Internal Rate of Return
Unsustainable
SRISTI ?
Sahaj
Bijli Har Ghar Yojana
Roof
Top Solar : Stuck at Plinth Level ?
Green
Buildings ? Put Greed to Work !
Solar
Power at Rs 1 per Kwh ?
I urge Minister for New and Renewable Energy , Shri R K
Sighji , to consider my suggestions
20 Sept 2018
www.hemenparekh.in
/ blogs
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