[SMM PV News] Ember: Solar and Storage Could Meet 90% of India's Power Demand

[SMM Silicon-Based PV Morning Meeting Minutes: Polysilicon Order Signing Increased Significantly, Module Prices Rose Slightly] Over the weekend, N-type recharging polysilicon was quoted at 34-36 yuan/kg. Weekend market prices remained temporarily stable. Currently, the market is approaching lows, and frequent meetings are being held, providing some support for prices. However, downstream players are resistant to high-priced resources, and wait-and-see sentiment has re-emerged in the market.

Scatec ASA has commissioned its largest project to date in Egypt – the $590 million Obelisk solar-plus-storage project. The project is financed with over 80% non-recourse debt ($479.1 million) from the European Bank for Reconstruction and Development, African Development Bank and British International Investment. The ownership structure includes Norfund and EDF Power Solutions, with Scatec retaining 60% economic interest and operational control. Phase one includes 561 MW of solar and a 100 MW/200 MWh BESS, backed by a 25-year USD-denominated PPA with Egyptian Electricity Transmission Company. A second 564 MW solar phase is scheduled for operation in summer 2026.

The Department of Energy of Philippines has confirmed that the seventh Green Energy Auction (GEA-7) will launch in 2026, with the terms of reference expected in Q2. The auction will cover rooftop, ground-mounted, and floating solar, with floating solar including unsubscribed capacity from GEA-4. The program will allocate capacity nationwide but significantly increase allocations in Mindanao, potentially around five times larger than previous rounds to stimulate regional investment. Ground-mounted solar projects must include battery energy storage systems to enhance grid stability. Rooftop and ground-mounted projects are targeted to begin operations in 2027, while floating solar projects are expected between 2027 and 2029.