The first round of the first phase of the Jawaharlal Nehru National Mission was announced and bids invited for 620MW of projects, 470MW in Solar Thermal and 150MW in Solar PV last year.
Panchabuta was the first to report on the Solar PV and thermal developers shortlisted for the first phase of the Solar Mission. 37 developers for a aggregated capacity of 620MW have been shortlisted and PPA’s signed.
Subsequently early this year, all but one of the developers have signed their PPA’s and the time line set for financial closure is the middle of thus year.
Gujarat has released a state specific solar policy with an ambitious target of installing 1,000 Mw solar power capacity by the end of 2012 and 3,000 Mw in next five years. The state has already signed PPAs for about 934MW.
Last month , Panchabuta has mentioned that the next round of bidding for 296 MW of solar photovoltaic projects is likely to start in April, according to Anil Agarwal, CEO of NTPC Vidyut Vyapar Nigam, the nodal agency for the first phase of the mission.
In spite of a number of projects being signed, the developments have been rather slow and only one of the 5 developers who were supposed to finish the projects by 2010 December has done so successfully.
Bloomberg was the first to point this out and has reported earlier this month that delayed solar-power plants face fines as Gujarat sets precedent. A common complaint among various players in the ecosystem including EPC players, vendors, inverter manufacturers etc., is that developers are waiting and watching and in discussions all the time without making the commitments as deadlines have been rather flexible so far.
However since this story by Bloomberg and the announcement of penalties by the Gujarat government there have been a number of announcements regarding project developments.
It seems like the organizers of the Global Solar Investment: India 2011 have understood the exact situation on the ground and have organized a much-needed conference that focuses on the issues at hand that face developers instead of just having knowledge sessions as conferences that many of the international conference holders often do without adding any real value to the Indian project proponents.
The organizers Global Solar Investment: India 2011 – April 15’th and 16’th, Mumbai have planned the sessions meticulously and have consulted with Panchabuta on various topics and the feedback from the community.
It is based on this feedback, that they have organized excellent sessions including those dedicated exclusively to financing of solar projects. As a must in any Solar conference, the event starts off with the opening session on the policy framework going forward with speakers from CERC, Rajasthan among others.
Rajasthan is a state keenly watched for, as the next round of biddings is expected there.
The second panel with a bankers perspective on solar panel with all the leading Indian and international institutions including IREDA, State Bank of India , Bank of Baroda, IFC and ADB participating will give a much-needed local perspective apart from the often heard views of IFC and ADB in all the conferences around town.
There are other panel discussions including those on Land and Project Infrastructure which is often so critical but overlooked.
It is also refreshing to see that the organizers have taken pains in covering the entire spectrum of finance including exclusive panels with perspective from Project Developers, Private Equity participants and Financial Market experts.
It is good that the organizers have meticulously planned the sessions keeping in mind the feedback from the project developers and their requirements currently. With a lot of projects due for financial closure by June, the conference is happening at an apt time and Panchabuta highly recommends serious developers to participate in the same.
Panchabuta will be at the event and would be available to meet with members of the Solar project development community that will be at the event.
Global Solar Investment: India 2011 – April 15’th and 16’th,2011, Mumbai