As Panchabuta has often mentioned and believes, Solar in India is at a very interesting stage.
Panchabuta was the first to report that the Solar PV and thermal developers were shortlisted for the first phase of the Solar Mission the day after the developers had to submit their revised bid to the government (NTPC Vidyut Vyapar Nigam Ltd. (NVVN) ) for the first phase of the Jawaharlal Nehru National Solar Mission (JNNSM).
The planned capacity of SolarPV is about 150MW and Solar Thermal about 470 MW for the first state of the phase and 37 developers shortlisted in the first phase of National Solar Mission sign PPA totalling 620 MW. Also as Panchabuta had reported earlier this month all of the shortlisted developers have signed their PPA’s and this leaves us an interesting stage where the projects need to achieve financial closure and complete execution within stipulated timelines.
Apart from this the Indian state of Gujarat that has been in the forefront of Solar energy development has released a state specific solar policy.Gujarat government has set the ambitious target of installing 1,000 Mw solar power capacity by the end of 2012 and 3,000 Mw in next five years. In this regard, the state has already signed PPAs for about 934MW.
There have been international reports that have started saying that “India the top target for being the new Germany for Solar“.
With about 1500MW of Solar projects that are currently in various stages of implementation post signing of the power purchase agreement, there has been a lot of activity going on in the solar space. The auction for the second batch of the first phase of the Jawaharlal Nehru National Solar Mission is also expected to take place this year. The first round witnessed a total of 344 bids for solar projects in 14 states, 300 bids were for photovoltaic and 44 for solar thermal renewable energy. Out of this 30 developers have been shortlisted for solar PV and 7 have been shortlisted for solar thermal.
Offgrid Solar applications, not much talked about in the mainstream media but highlighted often by Panchabuta has witnessed enormous growth. D.Light whose list of investors is long and strong — Draper Fisher Jurvetson, Acumen, Omidyar Network, Nexus and Garage Technology Ventures, the Mahindra Group and others is one such company. It will be worthy to note that companies like D.Light design have scaled rapidly in this area and as Panchabuta had noted, have impacted their second million lives in less than 8 months. They have recently been rated as one of the 5 hot startups to watch by Forbes India.