SMM News: March 19 news, Indian renewable energy developer Hero Future Energies 300MW photovoltaic project officially put into operation, Bhadla solar park installed to 2.245GW, promoted to the world's largest solar industry park. At present, the project in the park has been put into full operation.
It is reported that the Bhadla Solar Park, covering more than 14000 acres, is located in the village of Bhadla in the Jotpur region of Rajasthan and is jointly developed by a number of entities. Among them, Rajasthan Renewable Energy Co., Ltd. (RRECL) has built the 745MW project through its subsidiary RSPDCL; Saurya Urja, a joint venture between the Rajasthan Government and IL&FS Energy Development Corporation, has developed 1GW; and Adani Renewable Energy Park Rajasthan, a joint venture between the Rajasthan Government and a subsidiary of Adani Renewable Energy Park (Adani Enterprises, has developed the 500MW solar project.
The first phase of the Bhadla solar park project was put into production at 65MW with an installed capacity of 5MW-25MW; the second phase of the project completed six 70MW projects in 2017. NTPC, India's largest energy group, launched the 260MW project in March 2017.
On November 20, 2016, (SECI), an Indian solar energy company, invited tenders for the 750MW project to be developed in two phases, 500MW and 250MW.
In May 2017, the auction price of the 500MW project hit an all-time low of 2.44 rupees per kilowatt hour (RMB0.24), which has not yet been broken. Renewable energy developer ACME won Rs2.44 / kWh to win 200MW, while SoftBank's SB Energy bid Rs2.45 / kWh (about $0.038 / kWh) to develop 300MW.
In the 250MW auction, the minimum electricity price is 2.62 euros (about $0.0405 / kWh), winners include Phelan Energy Group (50MW), Avada Power (100MW) and SB Energy (100MW).
In June 2017, SECI invited bids for the 750MW solar project, Bhadla III for 500MW and Bhadla IV for 250MW. The items were auctioned in December 2019, of which the minimum bid for the 500MW auction was 2.47 euros (about $0.0380 / kWh), 250MW). The minimum electricity price for the auction is 2.48 euros (about $0.0388 / kWh). In the 500MW auction, the winning bidders included Hero Future Energy (300MW) and SB Energy (200MW). Azure and ReNew Power won the project development rights of 200MW and 50MW respectively at the 250MW auction.
In December 2019, Mercom reported that the then largest solar park, which was fully operational in Pawagada, Karnataka, had a capacity of 2.05 MW and was now surpassed by Bhadla's 2.2GW.
India is one of the most attractive markets for solar investment in the world
India has 750 gigawatts of solar energy potential and is one of the countries with the highest power transmission and distribution losses in the world. Thus, despite the wide range of solar energy deployments, greater investment in grid-related projects is needed to help the country make better use of its renewable energy potential, and the European SolarPower and the Indian National Solar Federation (NSEFI) have also made a number of recommendations to help accelerate investment in the solar sector.
The report, recently released in New Delhi by (ISA) Director-General Upendra Tripathy of the International Solar Union, is entitled "India: solar Investment opportunities". While Indian subsidy schemes have played an important role in solar adoption, investment in India's solar sector fell 15 per cent in 2018 from a year earlier, the report found. In addition to encouraging development financial institutions and private stakeholders, the report provides a number of recommendations for policy makers to encourage investment in India's solar energy sector.
Following the presentation of the report, the European Solar Task Force also highlighted new and different subsidy schemes, which are key to balancing the decline in annual investment in solar energy and expanding the energy customer base (agricultural and rooftop solar energy), it is essential to improve the financial situation of the state-owned DISCOM system and reduce the risk of investors.
In addition standardized electricity purchase agreement contracts should be introduced and short-term and innovative contract models should be provided.
In order to accelerate subsidies and incentives to end-users, the Government could consider developing and testing a multi-governance approach, in which a specific entity (such as an energy supplier / distribution network company) pays investment subsidies for solar roof installation to customers and enterprises. It will then be reimbursed again by the government or municipal authorities.
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