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Financing India’s Solar Revolution:
Opportunities and Challenges
DV Satya Kumar
MD, Shri Shakti Alternative Energy Ltd
Webinar Hosted by SolarPlaza
17th June, 2015
The Big Questions
“India will develop
100GW of solar by 2022!”
Can India do it?
“I want to kill 10 birds
with one stone!”
Can Piyush Goyal do it?
Think Solar, Think Germany
World’s top solar PV
capacity of 38 GW (2014),
starting with 2MW in 1990.
Germany’s goal is to
produce 35% of electricity
from renewable sources by
2020 and 100% by 2050.
Global Solar PV Capacities in 2015
Data: IEA-PVPS Snapshot of Global PV Report,
March 2015
How to beat the Leader?
Imagination is more important
Imagination is more
important than knowledge,
because knowledge is
limited …
Germany Vs India
Area – Germany 357,168 km2 - Rajasthan 342,239 km2
Average Annual Solar Radiation –
Germany 1200 KWh/SqM- Rajasthan 2000 KWh/SqM
Global Solar PV Roadmap, 2014
by IEA
IEA’s Roadmap for Solar PV
• The 210 GW of cumulative capacity expected by
2020 is being achieved five years earlier
• Capacity expected for 2020 has been revised to
420GW, ie double of what was foreseen in the
2010 roadmap.
• IEA, in 2014, has forecasted 142GW by 2030 and
575GW by 2050 for India (Hi Ren scenario)
• India’s new target of 100GW under JNNSM can be
seen against this background
Cumulative Growth of PV Capacity
Maximum Growth in PV post
2008 financial crisis
Global Electricity Mix in 2050 –
IEA’s 3 Scenarios
Generation Mix by 2050
(Hi-Ren Scenario)
IEA Solar Roadmap 2014
IEA’s analysis is based on a bottom-up TIMES* model that uses cost optimization
to identify least-cost mixes of energy technologies and fuels to meet energy
demand, given availability constraints of natural resources.
* The Integrated MARKAL (Market Allocation)- EFOM (energy flow optimization model)
System.
The New Indian Roadmap – JNNSM 2.0
State Wise Solar Potential in India
India Solar Pipeline 2015 > 10,000MW
Developing & Financing Solar
Projects in India
Project Cost per MW, PLFs ,
D/E Ratios, Interest Costs and Tariffs
PPA Tariffs (levelized) in Andhra Pradesh
Share of cost of capital in LCOE
of PV Systems
Target 100GW - Steps taken by MNRE
• NTPC takes on 25GW target
• SECI is developing 25GW Solar Parks
• Cess duty on Coal doubled, adds to the National
Clean Energy Fund
• RPO being increased from 3% to 10% by 2022
• Make in India launched – TrinaSolar, SunEdison, JA
Solar confirmed
• Investing in RE is reckoned as CSR
• Green Bonds,Tax free bonds, $ denominated PPAs
and other measures to lower interest costs
So, Mr Piyush Goyal may be able
to kill 10 birds with one stone?
The one stone being the target of
100GW Solar by 2022!
Not convinced? Imagine ..
• If the Government cuts ime consumed for competitive
bidding through direct PPAs at FiT (price discovery)
• The agricultural water pumping market in India is more
than 100,000MW of connected load.
• Solar charging for Electric Vehicles (EVs), with Rooftop
Solar FiTs, is cheaper than gas/petrol/diesel by nearly 80%.
• A Study done by our Company in Rajasthan, reveals a
potential of 20,000MW of Solar to displace just 5% of the
gas / petrol used for cars and two wheelers!
Thank You
D V Satya Kumar
+91 98491 29629
dvsk@ssael.co.in

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India solar finance webinar 2015

  • 1. Financing India’s Solar Revolution: Opportunities and Challenges DV Satya Kumar MD, Shri Shakti Alternative Energy Ltd Webinar Hosted by SolarPlaza 17th June, 2015
  • 2. The Big Questions “India will develop 100GW of solar by 2022!” Can India do it? “I want to kill 10 birds with one stone!” Can Piyush Goyal do it?
  • 3. Think Solar, Think Germany World’s top solar PV capacity of 38 GW (2014), starting with 2MW in 1990. Germany’s goal is to produce 35% of electricity from renewable sources by 2020 and 100% by 2050.
  • 4. Global Solar PV Capacities in 2015 Data: IEA-PVPS Snapshot of Global PV Report, March 2015
  • 5. How to beat the Leader?
  • 6. Imagination is more important Imagination is more important than knowledge, because knowledge is limited …
  • 7. Germany Vs India Area – Germany 357,168 km2 - Rajasthan 342,239 km2 Average Annual Solar Radiation – Germany 1200 KWh/SqM- Rajasthan 2000 KWh/SqM
  • 8. Global Solar PV Roadmap, 2014 by IEA
  • 9. IEA’s Roadmap for Solar PV • The 210 GW of cumulative capacity expected by 2020 is being achieved five years earlier • Capacity expected for 2020 has been revised to 420GW, ie double of what was foreseen in the 2010 roadmap. • IEA, in 2014, has forecasted 142GW by 2030 and 575GW by 2050 for India (Hi Ren scenario) • India’s new target of 100GW under JNNSM can be seen against this background
  • 10. Cumulative Growth of PV Capacity
  • 11. Maximum Growth in PV post 2008 financial crisis
  • 12. Global Electricity Mix in 2050 – IEA’s 3 Scenarios
  • 13. Generation Mix by 2050 (Hi-Ren Scenario)
  • 14. IEA Solar Roadmap 2014 IEA’s analysis is based on a bottom-up TIMES* model that uses cost optimization to identify least-cost mixes of energy technologies and fuels to meet energy demand, given availability constraints of natural resources. * The Integrated MARKAL (Market Allocation)- EFOM (energy flow optimization model) System.
  • 15. The New Indian Roadmap – JNNSM 2.0
  • 16. State Wise Solar Potential in India
  • 17. India Solar Pipeline 2015 > 10,000MW
  • 18. Developing & Financing Solar Projects in India Project Cost per MW, PLFs , D/E Ratios, Interest Costs and Tariffs
  • 19. PPA Tariffs (levelized) in Andhra Pradesh
  • 20.
  • 21. Share of cost of capital in LCOE of PV Systems
  • 22. Target 100GW - Steps taken by MNRE • NTPC takes on 25GW target • SECI is developing 25GW Solar Parks • Cess duty on Coal doubled, adds to the National Clean Energy Fund • RPO being increased from 3% to 10% by 2022 • Make in India launched – TrinaSolar, SunEdison, JA Solar confirmed • Investing in RE is reckoned as CSR • Green Bonds,Tax free bonds, $ denominated PPAs and other measures to lower interest costs
  • 23. So, Mr Piyush Goyal may be able to kill 10 birds with one stone? The one stone being the target of 100GW Solar by 2022!
  • 24. Not convinced? Imagine .. • If the Government cuts ime consumed for competitive bidding through direct PPAs at FiT (price discovery) • The agricultural water pumping market in India is more than 100,000MW of connected load. • Solar charging for Electric Vehicles (EVs), with Rooftop Solar FiTs, is cheaper than gas/petrol/diesel by nearly 80%. • A Study done by our Company in Rajasthan, reveals a potential of 20,000MW of Solar to displace just 5% of the gas / petrol used for cars and two wheelers!
  • 25. Thank You D V Satya Kumar +91 98491 29629 dvsk@ssael.co.in