Solar Power-Project-Jan 2014

India Infrastructure Research
www.indiainfrastructure.com
NOW AVAILABLE
SOLAR PROJECT PERFORMANCE IN INDIA
Data Analysis, Trends and Insight
RENEWABLE ENERGY FINANCE IN INDIA
Needs and Requirements, Sources and Options
About us
India Infrastructure Research is a division of India Infrastructure Publishing Private Limited, a company dedicated to providing information on the
infrastructure sectors through magazines, conferences, newsletters and research reports. It publishes five magazines – Indian Infrastructure, Renewable
Watch, Power Line, tele.net and Gujarat Infrastructure.
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Table of Contents
Solar Project Performance in India
1. Solar Power Overview
z Introduction
z Size and Growth
z Key Trends and Developments
z Investment Requirements and Opportunities
z Issues and the Way Forward
2. Review of Solar Project Performance
z Introduction
z Generation/Net Exported Power
z Capacity Utilisation Factor
z Seasonality
z Issues and Challenges
3. Project Performance by Location
z Introduction
z Inter-state Comparison
z Intra-state Comparison
z Impact of Location on Project Performance
z Summing Up
4. Project Performance by Size
z Introduction
z Project Size 1-5 MW
z Project Size over 5 MW
z Impact of Project Size on Performance
z Summing Up
5. Project Performance by Technology
z Introduction
z Level of Adoption
z Technology Providers
z Inverter Providers
z Projects using Crystalline Silicon Technology
z Projects using Thin-Film Technology
z Projects using Crystalline and Thin-film Technology
z Impact of Technology on Project Performance
z Summing up
6. Project Performance by Developer Type
z Introduction
z Share of Capacity by Developer Type
z Performance of Projects Developed by Integrated Solar Project
Developers
z Performance of Projects Developed by Independent Power Producers
z Performance of Projects Developed by Power Generation Companies
z Performance of Projects Developed by Diversified Players
z Comparative Performance Analysis
z Summing up
7. Performance of Solar Tracker-b
based Projects
z Introduction
z Level of Adoption of Solar Tracker Technology
z Economics of using Solar Trackers
z Performance Analysis of Tracker-based Projects
z Conclusion
8. Case Studies
z Introduction
z Narmada Canal-top Project
z Azure Solar, Nagaur
z SunEdison, Patan
z Tata Power, Mithapur
z Mahagenco, Sakri Project
z Adani Power, Kutch
z Acme Solar, Khambat
z Reliance Power, Dhursar
z Green Infra, Rajkot
z M and B Switchgears' Rajgarh Project
z C&S Electric's Bhiwani Project
z Mahindra Solar One, Rajasthan
9. Database

List of Tables and Figures
Release Date: January 17, 2013 No. of pages: 147
List of Tables
Installed Capacity of Off-Grid Applications (as of December 2012)
JNNSM Phase I Status
Summary of Key State Solar Policies
Current Status of Solar PV Projects Tendered Recently
Year-wise Trend in Net Levellised Tariff (Rs per kWh)
Lowest and Average Solar Power Tariffs Determined under Various Solar Programmes
Recent Solar Rooftop Initiatives
Investment Estimates in Solar Power Segment (Rs million)
State-wise Classification of Solar Power Projects in the Present Study
Average Generation in Solar Projects of 1 MW Size
Average Generation in Solar Projects of 5 MW Size
Average Generation in Solar Projects of Various Sizes
Average Monthly Generation of Andhra Pradesh's Solar Projects
Comparing the CUF of Solar Projects across Key Districts (per cent)
Technology-wise Key Inverter Providers
Performance of Crystalline Silicon Modules Provided by the Key Players
Performance of Thin-Film Modules Provided by the Key Players
Average Generation, CUF and Module Providers of Projects using both Technologies
Average CUF of all the Projects in Various States
Key Diversified Players having Solar Power Capacity
Average Capacity Utilisation Factor (%) of Projects Developed by Integrated Solar
Power Players
Average CUF of Projects Developed by Key IPPs
Average CUF of Projects Developed by Power Generating Companies
Average CUF of Projects Developed by Diversified Players
Select Solar Projects Equipped with Tracker Systems
Results of Study on Gain in Energy Yield due to Trackers at Select Locations
Technology-wise Variation in Yield and CUF Compared to a Fixed-Tilt System
Comparison of Financial Parameters for Solar PV Projects
Estimated Solar Power Generation from Select Tracker-Based Projects (kWh)
List of Figures
Year-wise Growth of Grid-connected Solar Power Capacity in India
Average Monthly Generation of 1 MW Projects
Average Monthly Generation of 5 MW Projects
Generation per MW in Solar Projects
Deviation in Average Monthly Generation against Designed Levels
Average Capacity Utilisation Factor in Solar Projects
Distribution of Projects by Capacity Utilisation Factor
Deviation in Average CUF against Designed Levels
20-Month Generation Trend in 25-MW Projects
Inter-state Comparison of Solar Power Projects' Generation
Inter-state Comparison of Capacity Utilisation Factor in Solar Power Projects
Average Monthly Generation of Gujarat' Solar Projects
Average Monthly Generation per MW in Gujarat's Solar Power Projects
Capacity Utilisation Factor in Gujarat's Solar Projects
Average Monthly Generation of Rajasthan's Solar Projects
Average Monthly Generation per MW for Rajasthan's Solar Power Projects
Capacity Utilisation Factor in Rajasthan's Solar Power Projects
Average Monthly Generation per MW for Andhra Pradesh's Solar Power Projects
Capacity Utilisation Factor in Andhra Pradesh's Solar Power Projects
Average Monthly Generation of Madhya Pradesh's Solar Projects
Average Monthly Generation per MW in Madhya Pradesh Solar Power Projects
Capacity Utilisation Factor of Madhya Pradesh's Solar Power Projects
Average Monthly Generation of 1 MW Solar Projects
Average CUF of 1 MW Solar Projects
Average CUF of Solar Projects Over 10 MW
Average Monthly Generation of Solar Projects Over 10 MW
Capacity Utilisation Factor in Major Project Sizes
Share of various Technologies in Total Installed Capacity (%)
Scheme-wise Technology Share (MW and %)
State-wise Share of Technologies (MW)
Market Share of various Solar Module Providers in India
Market Share of Key c-Si Modules Providers (%)
Market Share of Key Thin-Film Modules Providers (%)
Market Share of Key Thin-Film and c-Si Modules Providers (%)
Market Share of various Inverter Providers in India
Average Net Monthly Generation of Crystalline Technology-based Solar Projects
Average CUF of Crystalline Silicon Technology Projects
Average Net Monthly Generation (KWh) of Thin-Film Technology based Projects
Average CUF of Thin-Film Technology Based Solar Projects
Average Net Generation per MW
Project CUF across Technologies (%)
Share of Various Players in the Solar Power Capacity (%)
Market Share of Key Integrated Solar Power Project Developers(%)
Market Share of Key Independent Power Producers having Solar Power Capacities(%)
Market Share of Key Power Generating Companies having Solar Power Capacities (%)
Scheme-wise Share of various Developers in Installed Solar Capacity
State-wise Presence of Various Developers in different States
Average Monthly Net Generation of Projects Developed by Integrated Solar Project
Developers
Monthly Net Average Generation of Projects Developed by IPPs
Monthly Net Average Generation of Projects Developed by Diversified Players
Comparison of Generation across Players (kWh/MW)
Comparison of Average CUF across Players
Monthly Generation per MW of Capacity for Select Solar Tracker-Based Projects
Monthly CUF for Select Solar Tracker-Based Projects
Comparison of Tracker-based Projects with the Country Average (for 5 MW projects)
Power Generation at the Narmada Canal-top Project
Power Generation at Azure Solar's Nagaur Project
Net Exported Power at SunEdison's Patan Project
Capacity Utilisation Factor at SunEdison's Patan Project
Net Exported Power at Tata Power's Mithapur Project
Capacity Utilisation Factor Tata Power's Mithapur Project
Net Generation at Mahagenco's Sakri Project
Capacity Utilisation Factor at Mahagenco's Sakri Project
Net Generation at Adani Power's Kutch Project
Capacity Utilisation Factor at Adani Power's Kutch Project
Net Generation and Capacity Utilisation at Acme Solar's Khambat Project
Net Generation and Capacity Utilisation at Reliance Power's Dhursar Project
Net Generation at Green Infra's Rajkot Project
Capacity Utilisation at Green Infra's Rajkot Project
Monthly Generation Performance of M and B Switchgears' Rajgarh Project
Monthly Generation Performance of C&S Electric's Bhiwani Project
Power Generation at the Mahindra Solar One Project
Capacity Utlisation Factor of Mahindra Solar One Project (%)
The reports will be available along with a presentation in PDF format.

Table of Contents
Renewable Energy Finance in India
SECTION I: OVERALL ANALYSIS
1. Overview
z Introduction
z Cross-segment Comparison
z Investment Trends
z Financing Trends
z Growth Drivers
z Risks and Mitigation Strategies
z Conclusion
2. Government Initiatives
z Introduction
z Preferential Tariffs
z Capital Subsidies
z AD and GBI
z Viability Gap Funding
z Renewable Energy Certificates
z Renewable Purchase Obligations
z Conclusion and the Way Forward
3. Debt Finance
z Introduction
z Types of Debt Finance
z Sources of Debt Finance
z Renewable Energy Portfolio of Select Domestic Financial Institutions
z Renewable Energy Portfolio of Select International Funding Institutions
z Risks and Challenges
z Conclusion
4. Private Equity and Venture Capital
z Introduction
z Size and Growth
z Recent Deals
z Key Players
z Risk Factors
z The Way Forward
5. Emerging Financing Instruments
z Introduction
z Bridge Financing
z Mezzanine Financing
z Takeout Financing
z Pooled Financing
z Other Financing Instruments
z Conclusion
6. Future Outlook
z Introduction
z Segment-wise Financing Requirement
z Emerging Financing Trends
z Financing Transmission Infrastructure
z Conclusion
SECTION II: SEGMENT ANALYSIS
7. Wind Power
z Introduction
z Size and Growth
z Rates of Return
z Recent Financings
z The Way Forward
8. Solar Power
z Introduction
z Size and Growth
z Rates of Return
z Recent Financings
9. Small Hydro
z Introduction
z Size and Growth
z Key Players
z Recent Financings
10. Biomass
z Introduction
z Size and Growth
z Rates of Return
z Recent Financings
z The Way Forward
11. Appendix

List of Tables and Figures
List of Tables
Estimated Potential and Plan-wise Capacity Addition in Grid-Interactive Renewable
Power in India (MW)
Trends in Renewable Energy Investment
Segment-wise Renewable Capacity Addition and Corresponding Investments in 2012
and 2013
Key Debt Funding Deals Signed by Domestic Financial Institutions in the Renewable
Energy Sector
Key Debt Funding Deals Signed by International Financial Institutions in the Past One
Year
Key PE Deals in the Indian Renewable Energy Sector
Tax Incentives for Renewable Energy Projects
Change in Wind Power Tariff in Key States
Tender-wise Lowest and Average Solar Photovoltaic (PV) Tariffs Achieved (Rs per kWh)
Biomass Power Tariffs across Key States
Bagasse-based Cogeneration Power Tariffs Across Key States
Capital Subsidies for Biomass Projects
Capital Subsidies for SHP Projects
Comparison of AD and GBI Schemes (Re per unit of electricity)
Benefits from AD from April 1, 2012 onwards (Rs per unit of electricity)
Project Implementation Schedule for JNNSM Batch I Phase II
CERC-determined Floor and Forbearance Prices for RECs till March 2017
State-wise Non-Solar RPO Targets (%)
State-wise SPO targets (%)
Key Convertible Debentures Deals in the Renewable Energy Sector
Key Features of Debt from Foreign Sources
IREDA'S Sanctions between 2007-08 and 2012-2013 (Rs billion)
IREDA's Disbursements between 2007-08 and 2012-2013 (Rs billion)
Key Debt Transactions Undertaken by PFS
Key Debt Transactions by SBI in the Renewable Energy Sector
Key Debt Deals by Axis Bank in the Renewable Energy Sector
Key Debt Transactions by IFC in the Indian Renewable Energy Space
Key Debt Funding by ADB in the Indian Renewable Energy Sector
Key Debt Funding by OPIC in the Indian Renewable Energy Sector
Key Debt Funding by the US Ex-Im Bank in the Indian Renewable Energy Sector
Growth in PE Investments in the Renewable Energy Sector
Key PE and VC Deals in Diversified Renewables Segment (April 2011-November
2013)
Key PE and VC Deals in Wind Power Segment (April 2011-November 2013)
Key PE and VC Deals in the Solar Power Segment (April 2011-November 2013)
Key PE and VC Deals in the Biomass and SHP Segment (April 2011-November 2013)
Annual Renewable Energy Targets during the Twelfth Five-Year Plan (MW
Investments Made during the Twelfth Five-Year Plan (on capacity added up to October
2013)
Investment Requirement during the Twelfth Five-Year Plan (for capacity addition post
October 2013)
Indicative Financing Requirement for JNNSM Phase II (Central Scheme)
State Programme-wise Investment Requirements in Solar Power Segment
State-wise Wind Power Capacity Addition Targets
Future Plans of Select IPPs in Wind Power Segment
Year-wise Wind Capacity Addition in the Country
State-wise Wind Capacity Addition during 2013
State-wise Break-Up of the Available Potential for Repowering
State-wise Wind Power Tariffs
Future Plans of Select IPPs
Fixed Cost Components Considered for Analysis of Project Returns
Project Returns at Various PLF Points (per cent)
Net Benefits Realised under the REC Mechanism
Recent Equity Deals in the Wind Power Segment
Installed Capacity of Off-Grid Applications (as of December 2012)
JNNSM Phase I Status
Summary of Key State Solar Policies
Status of Solar PV Projects Tendered Recently
Year-wise Trend in Net Levellised Tariff (Rs per kWh)
Lowest and Average Solar Power Tariffs Determined under Various Solar Programmes
Recent Solar Rooftop Initiatives
Investment Estimates in Solar Power Segment (Rs million)
State-wise Investment Requirement in the Next Five Years
Levellised Tariff for PV Projects for Various Scenarios
Unviable JNNSM Phase I Batch II Bids under Various Scenarios
Summary of Recent Financial Deals in Solar Power
MNRE's Classification of SHP Projects
Private Sector SHP Capacity in Selected States (As of October 2013)
Capital Cost and Tariff Norms for SHP Projects
Investment Estimates in Renewable Energy (Rs million)
Incentives for SHP Projects under MNRE Schemes
Year-wise Investment in SHP segment
Year-wise Sanctions and Disbursements by IREDA for SHP Projects
Capacity Addition in the Biomass Energy Segment
Investment in Grid-Connected Biomass Energy Segment (Rs million)
State-wise Potential and Installed Biomass Power Capacity (as of February 2012)
Project Portfolio of Key Biomass Developers
Estimated Investment Requirements in the Biomass Segment in the Twelfth Five-Year
Plan
Expected Benefits from APPC+REC Model for Biomass Projects
Key PE Deals in the Biomass Power Segment
List of Figures
Sources of Finance in India
Volume of Solar RECs Traded
Price of Solar RECs Traded
Volume of Non-Solar RECs Traded
Price of Non-Solar RECs Traded
Sources of Debt Funding in India
Segment-wise Break-up of PE Deals (by value) during April 2011-November 2013
Year-wise Growth of Grid-connected Solar Power Capacity in India
SHP Installed Capacity Growth
Year-wise SHP Capacity Addition: Targets vs Achievement
The reports will be available along with a presentation in PDF format.
Release Date: January 6, 2013 No. of pages: 165

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