Defining pre-construction (including pre-bid) design, yield and financial parameters for grid-connected solar projects
Student name: Ms Avantika Mishra
Guide: Mr Sapan Thapar
Year of completion: 2016
Host Organisation: SunEdison Energy India Pvt Ltd
Supervisor (Host Organisation): Mr Gaurav Kawatra
Abstract: 2015 was the first year in which the announcement of the 100GW target by 2022 started having an impact. While the target was formally passed by the parliament in 2014, it started taking pace in 2015. Solar sector has got great momentum in year 2015 with capacity addition more than doubling up over last year and over 15GW of projects pipelined. Encouraged by falling prices of solar state government have also taken lead over central schemes, states like Punjab, Madhya Pradesh, Karnataka, Telangana, Andhra Pradesh and Tamil Nadu have announced substantial policy initiatives. Having a solar portfolio of 23GW, Indian photovoltaic market may take Japans 3rd spot in global scene in 2017, Bridge to India estimates. This year will be seen as the transition year for solar market as the total capacity addition may increase to 6GW annually.
Solar Installations are faster to build as compared to hydro and fossil fuels, giving quick returns and hence a major incentive in rapidly growing, emerging markets with high demands and urgent need of power. This report focusses on all the key aspects that are specific to project development of solar PV plants:
• Optimum power plant design: key challenge in designing is to design a PV power plant that is optimally balanced in terms of cost and performance.
• Project implementation: Completion of efficiently working and reliable project on time and within budget is another major challenge.
The key aspects include
• Permitting and licensing
• Selection and contracting of EPC company
• Power plant construction
• O&M
Permitting and licensing comes into the region of this report.
• Commercial and financial aspect: PV specific government subsidies, incentive mechanisms such as preferential tariffs and other direct and indirect supports have important impact on financial viability of project, as they affect the revenue stream. Ower purchase agreement is another key aspect, this is the most important document to obtain in financing and defines the terms under which off taker purchases power from PV plant.
Thus, the development of a solar PV project involves technical, commercial and regulatory experts working in parallel on distinct yet interdependent activities.
