Emerging solar markets such as Saudi Arabia, Pakistan and Malaysia are set to join the gigawatt (GW) club in the next five years, according to research firm Wood Mackenzie.
It said emerging markets would offer opportunities beyond traditional grid-connected plants, off-grid solar PV-based installations for those currently without power supply will offer a different opportunity set. Managing the risks associated with doing business in emerging power markets will be a key challenge for investors to negotiate,” the research firm said in a statement.
In a major setback to Tangedco and the Tamil Nadu government, the Union ministry for renewable power (MNRE) has cancelled the proposal for a solar park at Kadaladi in Ramanathapuram district. The decision was made at a meeting convened by the MNRE secretary recently to assess the performance of solar parks. The reason for cancellation, sources said, was tardy progress in its implementation.
It was in 2017 that the government announced that a 500 MW solar photovoltaic park would come up at Kadaladi. Former CM J Jayalalithaa had in 2016 announced a 4,000MW thermal power plant at the same site.
Global emerging market fund Actis has acquired solar energy assets of 600 megawatt capacity from Acme Cleantech Solutions in a deal worth Rs 3,000 crore, said two people aware of the development. Actis outbid Canadian fund Brookfield to strike a deal with one of the largest solar power producers in India, they said.
The deal, signed on February 26, 2020, is subject to regulatory approvals, The equity value of the deal is pegged at Rs 900 crore, he added.
India and Myanmar on Thursday exchanged 10 agreements, four of which focus on the construction of water supply systems, distribution of electricity by solar power, as well as construction of roads and schools in Rakhine state, located on the western coast of the South Asian country.
The deals were signed in the presence of Prime Minister Narendra Modi and Myanmar President U Win Myint at the Hyderabad House on February 27, 2020.
Solar Energy Corporation of India has auctioned 1,200 MW solar projects, attracting much better response from developers than other recent auctions at much-lower tariffs, because it allowed developers to pass on any increase in costs due to safeguard or any other duty.
Softbank-backed SB Energy, AMP Energy and French state-run power major EDF won 600 MW, 100 MW and 300 MW, respectively, at a tariff of Rs 2.50 per unit, while Renew Power won 200 MW at Rs 2.51 per unit.
Coal India’s dry fuel supply to the non-power sector had expanded by 4.4% till January of the current fiscal in contrast to a decline of 6.8% to the power sector for the same period. The muted demand from power plants and sufficient stock of coal had resulted in lower demand. To combat the slowdown in sale, CIL was channelising more coal to the non-power sector.