Solar power prices in India have hit rock bottom, but it is not all good news for the electricity-starved country as the phenomenon has hit investor confidence and threatens the country&#39;s effort to push its green credentials.

Cut-throat competition has driven prices down to unsustainable levels, undermining the booming sector&#39;s viability, according to experts.

After the United States withdrew from the Paris climate deal last week, India said it would stick to its huge renewable energy programme. India is the headquarters of an international solar energy alliance and Prime Minister Narendra Modi is keen to reinforce the notoriously polluted country&#39;s green credentials.&nbsp;

But the price slump could hinder India&#39;s efforts to meet its solar energy goals and limit temperature-raising emissions. Delays in generating more electricity also mean that nearly 250 million Indians without power will remain in darkness, analysts said.

Indian authorities hold regular auctions for power supply companies and the most recent, in May, saw a bid of 2.44 rupees -- less than four US cents -- per kilowatt hour. That was a record low for India at a fifth of the price at the start of the decade and energy minister Piyush Goyal called it a step to a &quot;green future&quot;.

The price is cheaper than for coal-powered electricity, which overwhelmingly dominates the power grid. However, the effect of the falling cost of solar modules, cheaper financing, aggressive competition and a surplus power supply in some states has been to unleash chaos, with companies and state governments clamouring for suppliers to match the new, low prices.

&quot;Prices have come down too much, too soon and that doesn&#39;t bode well for the overall health of the sector,&quot; said Vinay Rustagi, managing director of renewable energy consultancy Bridge to India.

Solar &#39;curse&#39;&nbsp;

&quot;In the past 17 months, tariffs are down nearly 50 percent and this is leading to buyer&#39;s remorse for projects already built and under development,&quot; Vinay Rustagi added. &quot;There&#39;s a reasonable chance that these projects will face some trouble in the future.&quot;

Modi turned to renewable energy to meet the vast needs of an economy that grew by 7.1 percent last year. The government has set an ambitious target of harvesting 100,000 megawatts of solar power by 2022 -- but has installed just 12,500 MW so far.

Of India&#39;s 329,000 MW of installed capacity, 67 per cent comes from coal and gas. The rest is a combination of nuclear and renewables including, hydro, wind and solar.

India is the fastest growing of the world&#39;s major economies and needs uninterrupted electricity to maintain its expansion. It also needs renewable energy to meet its 2015 Paris commitment to reduce emissions relative to gross domestic product by up to 35 percent by 2030 from 2005 levels.

The state governments of Jharkhand, Andhra Pradesh and Haryana have refused to sign purchase agreements to buy power at the rates of 4-5.50 rupees a unit reached at auction over the past year, hoping to secure a cheaper deal. This is &quot;creating uncertainty,&quot; said Rustagi.

&quot;Ethically we shouldn&#39;t do that,&quot; said Sanjay Sharma, general manager at the state-run Solar Energy Corporation of India which conducted the latest auctions. He warned that the government could &quot;lose the confidence of the foreign bidder who is investing in India.&quot;

Critics also question if the new contract winners can provide low price electricity and remain viable. A day after India saw its new cheap solar prices, Amplus Solar founder Sanjeev Aggarwal was bombarded by clients asking him to slash rates to match the new prices.

&quot;People are falling over each other to grab a piece of the pie, but the question is if they can ever deliver at these rates,&quot; Aggarwal told AFP.&nbsp;

Sumant Sinha chief executive of ReNew Power, one of the largest Indian renewable power companies and a losing bidder in the latest auctions, predicted a &#39;winners curse&#39;. &quot;Extremely low tariffs don&#39;t help anyone. Ultimately people have to raise debt financing, banks have to be brought on board, all of that looks very dicey at these levels,&quot; said Sinha.&nbsp;

(AFP)

Cut-throat competition has driven prices down to unsustainable levels raising doubts of delivery at these rates

Solar power prices in India have hit rock bottom, but it is not all good news for the electricity-starved country as the phenomenon has hit investor confidence and threatens the country's effort to push its green credentials. Cut-throat competition has driven prices down to unsustainable levels, undermining the booming sector's viability, according to experts. After the United States withdrew from the Paris climate deal last week, India said it would stick to its huge renewable energy programme. India is the headquarters of an international solar energy alliance and Prime Minister Narendra Modi is keen to reinforce the notoriously polluted country's green credentials. But the price slump could hinder India's efforts to meet its solar energy goals and limit temperature-raising emissions. Delays in generating more electricity also mean that nearly 250 million Indians without power will remain in darkness, analysts said. Indian authorities hold regular auctions for power supply companies and the most recent, in May, saw a bid of 2.44 rupees -- less than four US cents -- per kilowatt hour. That was a record low for India at a fifth of the price at the start of the decade and energy minister Piyush Goyal called it a step to a "green future". The price is cheaper than for coal-powered electricity, which overwhelmingly dominates the power grid. However, the effect of the falling cost of solar modules, cheaper financing, aggressive competition and a surplus power supply in some states has been to unleash chaos, with companies and state governments clamouring for suppliers to match the new, low prices. "Prices have come down too much, too soon and that doesn't bode well for the overall health of the sector," said Vinay Rustagi, managing director of renewable energy consultancy Bridge to India. Solar 'curse' "In the past 17 months, tariffs are down nearly 50 percent and this is leading to buyer's remorse for projects already built and under development," Vinay Rustagi added. "There's a reasonable chance that these projects will face some trouble in the future." Modi turned to renewable energy to meet the vast needs of an economy that grew by 7.1 percent last year. The government has set an ambitious target of harvesting 100,000 megawatts of solar power by 2022 -- but has installed just 12,500 MW so far. Of India's 329,000 MW of installed capacity, 67 per cent comes from coal and gas. The rest is a combination of nuclear and renewables including, hydro, wind and solar. India is the fastest growing of the world's major economies and needs uninterrupted electricity to maintain its expansion. It also needs renewable energy to meet its 2015 Paris commitment to reduce emissions relative to gross domestic product by up to 35 percent by 2030 from 2005 levels. The state governments of Jharkhand, Andhra Pradesh and Haryana have refused to sign purchase agreements to buy power at the rates of 4-5.50 rupees a unit reached at auction over the past year, hoping to secure a cheaper deal. This is "creating uncertainty," said Rustagi. "Ethically we shouldn't do that," said Sanjay Sharma, general manager at the state-run Solar Energy Corporation of India which conducted the latest auctions. He warned that the government could "lose the confidence of the foreign bidder who is investing in India." Critics also question if the new contract winners can provide low price electricity and remain viable. A day after India saw its new cheap solar prices, Amplus Solar founder Sanjeev Aggarwal was bombarded by clients asking him to slash rates to match the new prices. "People are falling over each other to grab a piece of the pie, but the question is if they can ever deliver at these rates," Aggarwal told AFP. Sumant Sinha chief executive of ReNew Power, one of the largest Indian renewable power companies and a losing bidder in the latest auctions, predicted a 'winners curse'. "Extremely low tariffs don't help anyone. Ultimately people have to raise debt financing, banks have to be brought on board, all of that looks very dicey at these levels," said Sinha. (AFP)

Solar power prices slump, raises doubts on India's green future

Imagine one of the largest solar farms ever at the site of the world&#39;s worst man-made nuclear disaster that struck Chernobyl in modern-day Ukraine and sowed panic across Europe. 
 
That is the grand vision of Ukrainian environment minister Ostap Semerak, backed up by big-time investors such as the European Bank for Reconstruction and Development (EBRD). 
 
The Chernobyl catastrophe of April 1986 left thousands dead or dying and created a contaminated no-man&#39;s land in northern Ukraine in which only a few hundred elderly people still cling on to their homes. 
 
The 30-kilometre-wide (19-mile-wide) &quot;exclusion zone&quot; surrounding the stricken station is primarily covered in forests and filled with radiation levels that make most foods produced there unsafe. 
 
But Ukraine believes there are also around 6,000 hectares (15,000 acres) of open land that can be filled with solar panels that may one day produce about as much energy as Chernobyl&#39;s ill-fated reactor number four did in its time. 
 
The EBRD has already said it was willing to support the project as long as Ukraine attracted the $1 billion (1.1 billion euros) needed to fulfil its first stage. 
 
&quot;A fairly large number of various companies across the world are interested,&quot; Semerak said. 
 
&quot;I think that, in case of successful negotiations, this project could be launched in full next year.&quot; 
 
Baby steps 
 
Ukraine is keen to break its dependence on energy giant Russia in the wake of a 2014 pro-EU revolution that was followed by the Kremlin&#39;s annexation of Crimea and the outbreak of a pro-Moscow insurgency in the country&#39;s east that has claimed more than 9,500 lives. 
 
About 50 per cent of the former Soviet republic&#39;s energy is still produced by its remaining nuclear stations. Thermal power generation makes up for much of the rest. 
 
Official statistics show solar panels accounting for less than one per cent of the energy consumed in Ukraine. 
 
The very first stage of the project should see Ukraine partner up with two private foreign firms to build a few small solar plants that generate about six megawatts of power by the end of this year. 
 
That is still just a tiny fraction of the 4,000 megawatts pumped out by Chernobyl in its Soviet-era heydays. 
 
Semerak thinks investors will be drawn by existing electricity lines and a professional personnel that is working on cleaning up the remainders of the Chernobyl station and installing a giant dome around it to keep the atmosphere safe. 
 
Semerak adds that purchasing land required for the solar farm is remarkably cheap because it is unsafe for farming and has little other use. 
 
&quot;The radiation level has dropped immeasurably over the past 30 years,&quot; Semerak said in a telephone interview. 
 
&quot;Of course, this territory still cannot be used for farming,&quot; he said. &quot;But it is suitable for innovative and scientific project.&quot; 
 
Semerak added that the project&#39;s success would create other possibilities for what is considered one of the most unhealthy parts of Europe that would see Chernobyl become an &quot;innovation zone&quot;. 
 
Investment risks 
 
Yet questions remain about whether Semerak&#39;s plan is actually feasible. 
 
Foreign investors view Ukraine with a great deal of caution because of the separatist conflict and its tensions with Russia as well as corruption that has permeated both the government in Kiev and the regions. 
 
&quot;I think this project will require a great deal of money,&quot; Dmytro Lukomsky of the Rentechno solar station construction firm said. 
 
&quot;If we find the investors, the prospects are fairly good. And if we do not - the chances of things working out are small.&quot; 
 
Energy expert Oleksiy Khabatyuk noted that Ukraine only this year crawled out of a two-year recession and the prospects for future growth were minimal because of endless political upheaval and tensions with Russia. 
 
&quot;The instability that we see in our economy, in our political life and the military threat -- none of these things stimulate the attraction of investments,&quot; Khabatyuk said. 
 
&quot;The overall investment climate is not attractive.&quot; 
 
(AFP)

EBRD says it is willing to support the project so long as Ukraine attracts the $1 billion needed to pay for the first stage

Imagine one of the largest solar farms ever at the site of the world's worst man-made nuclear disaster that struck Chernobyl in modern-day Ukraine and sowed panic across Europe. That is the grand vision of Ukrainian environment minister Ostap Semerak, backed up by big-time investors such as the European Bank for Reconstruction and Development (EBRD). The Chernobyl catastrophe of April 1986 left thousands dead or dying and created a contaminated no-man's land in northern Ukraine in which only a few hundred elderly people still cling on to their homes. The 30-kilometre-wide (19-mile-wide) "exclusion zone" surrounding the stricken station is primarily covered in forests and filled with radiation levels that make most foods produced there unsafe. But Ukraine believes there are also around 6,000 hectares (15,000 acres) of open land that can be filled with solar panels that may one day produce about as much energy as Chernobyl's ill-fated reactor number four did in its time. The EBRD has already said it was willing to support the project as long as Ukraine attracted the $1 billion (1.1 billion euros) needed to fulfil its first stage. "A fairly large number of various companies across the world are interested," Semerak said. "I think that, in case of successful negotiations, this project could be launched in full next year." Baby steps Ukraine is keen to break its dependence on energy giant Russia in the wake of a 2014 pro-EU revolution that was followed by the Kremlin's annexation of Crimea and the outbreak of a pro-Moscow insurgency in the country's east that has claimed more than 9,500 lives. About 50 per cent of the former Soviet republic's energy is still produced by its remaining nuclear stations. Thermal power generation makes up for much of the rest. Official statistics show solar panels accounting for less than one per cent of the energy consumed in Ukraine. The very first stage of the project should see Ukraine partner up with two private foreign firms to build a few small solar plants that generate about six megawatts of power by the end of this year. That is still just a tiny fraction of the 4,000 megawatts pumped out by Chernobyl in its Soviet-era heydays. Semerak thinks investors will be drawn by existing electricity lines and a professional personnel that is working on cleaning up the remainders of the Chernobyl station and installing a giant dome around it to keep the atmosphere safe. Semerak adds that purchasing land required for the solar farm is remarkably cheap because it is unsafe for farming and has little other use. "The radiation level has dropped immeasurably over the past 30 years," Semerak said in a telephone interview. "Of course, this territory still cannot be used for farming," he said. "But it is suitable for innovative and scientific project." Semerak added that the project's success would create other possibilities for what is considered one of the most unhealthy parts of Europe that would see Chernobyl become an "innovation zone". Investment risks Yet questions remain about whether Semerak's plan is actually feasible. Foreign investors view Ukraine with a great deal of caution because of the separatist conflict and its tensions with Russia as well as corruption that has permeated both the government in Kiev and the regions. "I think this project will require a great deal of money," Dmytro Lukomsky of the Rentechno solar station construction firm said. "If we find the investors, the prospects are fairly good. And if we do not - the chances of things working out are small." Energy expert Oleksiy Khabatyuk noted that Ukraine only this year crawled out of a two-year recession and the prospects for future growth were minimal because of endless political upheaval and tensions with Russia. "The instability that we see in our economy, in our political life and the military threat -- none of these things stimulate the attraction of investments," Khabatyuk said. "The overall investment climate is not attractive." (AFP)

Ukraine looking to turn Chernobyl into one of the largest solar farms ever

The first solar-powered plane to circle the world took off from Cairo today for Abu Dhabi, in the final leg of its journey. 
 
Swiss pilot Bertrand Piccard was behind the controls of Solar Impulse 2, which can fly for days on only energy from the sun. 
 
&quot;It&#39;s a project for energy, for a better world,&quot; Piccard told journalists before taking off. 
 
Pilots Piccard and Swiss entrepreneur Andre Borschberg have taken turns flying the plane on its 22,000-mile (35,000-kilometre) trip around the world. 
 
Borschberg piloted the flight&#39;s Pacific stage, a 4,000-mile flight between Nagoya, Japan, and Hawaii. 
 
Solar Impulse 2 arrived in Cairo after a two-day flight from Spain, finishing the 3,745 kilometre journey with an average speed of 76.7 kilometres an hour. 
 
It had earlier landed in Seville after completing the first solo transatlantic flight powered only by the sun. 
 
The carbon fibre plane, with a wingspan exceeding that of a Boeing 747 and the weight of a family car can climb to about 8,500 metres (28,000 feet) and cruise at 55-100 kph (34-62 mph). 
 
&quot;The project is a big promotion of clean technologies around the world and the legacy of Solar Impulse is the created international community,&quot; Piccard said. 
 
The single-seat aircraft, no heavier than a car but with the wingspan of a Boeing 747, is clad in 17,000 solar cells. During night-time flights it runs on battery-stored power. 
 
It typically travels at a mere 30 miles (48 kilometres) per hour, although its flight speed can double when exposed to full sunlight. 
 
(AFP) 
&nbsp;

Solar Impulse 2 is headed to its final destination, Abu Dhabi, with the flight expected to take between 48 and 72 hours

The first solar-powered plane to circle the world took off from Cairo today for Abu Dhabi, in the final leg of its journey. Swiss pilot Bertrand Piccard was behind the controls of Solar Impulse 2, which can fly for days on only energy from the sun. "It's a project for energy, for a better world," Piccard told journalists before taking off. Pilots Piccard and Swiss entrepreneur Andre Borschberg have taken turns flying the plane on its 22,000-mile (35,000-kilometre) trip around the world. Borschberg piloted the flight's Pacific stage, a 4,000-mile flight between Nagoya, Japan, and Hawaii. Solar Impulse 2 arrived in Cairo after a two-day flight from Spain, finishing the 3,745 kilometre journey with an average speed of 76.7 kilometres an hour. It had earlier landed in Seville after completing the first solo transatlantic flight powered only by the sun. The carbon fibre plane, with a wingspan exceeding that of a Boeing 747 and the weight of a family car can climb to about 8,500 metres (28,000 feet) and cruise at 55-100 kph (34-62 mph). "The project is a big promotion of clean technologies around the world and the legacy of Solar Impulse is the created international community," Piccard said. The single-seat aircraft, no heavier than a car but with the wingspan of a Boeing 747, is clad in 17,000 solar cells. During night-time flights it runs on battery-stored power. It typically travels at a mere 30 miles (48 kilometres) per hour, although its flight speed can double when exposed to full sunlight. (AFP)

Solar Impulse 2 embarks on final leg of world tour

A solar-powered airplane left the United States today, taking off from New York City to fly across Atlantic for its historic bid to circle the globe. 
 
The spindly, single-seat experimental aircraft, dubbed as Solar Impulse 2, left New York&#39;s John F. Kennedy International Airport at about 2:30 am local time (0630 GMT) &nbsp;today. 
 
The flight is expected to take approximately 90 to 110 hours before landing in Seville Airport, Spain, said&nbsp;the project team. 
 
The Swiss team flying the aircraft in a campaign to build support for clean energy technologies hopes eventually to complete its circumnavigation in Abu Dhabi, where the journey began in March 2015. 
 
The solar craft&#39;s cruising speed, akin to that of a car, required pilots to take up meditation and hypnosis in training to stay alert for long periods. 
 
Andre Borschberg alternates with fellow pilot Bertrand Piccard at the controls for each segment of what they hope will be the first round-the-world solar-powered flight. 
 
On April 24, Piccard landed in San Francisco, completing a trans-Pacific crossing after a nearly three-day trip that began in Hawaii. The flight took more than three times the 18 hours for Amelia Earhart to fly solo from Hawaii to California in the 1930s. 
 
The propeller-driven Solar Impulse flies without a drop of fuel and its four engines are powered solely by energy collected from more than 17,000 solar cells built into its wings. 
 
Surplus power is stored in four batteries during the day, to keep the plane aloft on extreme long-distance flights. 
 
The carbon-fiber plane, with a wingspan exceeding that of a Boeing 747 and the weight of a family car, is unlikely to set speed or altitude records. It can climb to 28,000 feet (8,500 m), and cruise at 34 to 62 mph (55 to 100 kph). 
 
In a precursor of their globe-circling quest, the two men completed a multi-flight crossing of the United States with an earlier version of the solar plane in 2013. 
(Reuters)

The solar craft's cruising speed, akin to that of a car, required pilots to take up meditation and hypnosis in training to stay alert

A solar-powered airplane left the United States today, taking off from New York City to fly across Atlantic for its historic bid to circle the globe. The spindly, single-seat experimental aircraft, dubbed as Solar Impulse 2, left New York's John F. Kennedy International Airport at about 2:30 am local time (0630 GMT) today. The flight is expected to take approximately 90 to 110 hours before landing in Seville Airport, Spain, said the project team. The Swiss team flying the aircraft in a campaign to build support for clean energy technologies hopes eventually to complete its circumnavigation in Abu Dhabi, where the journey began in March 2015. The solar craft's cruising speed, akin to that of a car, required pilots to take up meditation and hypnosis in training to stay alert for long periods. Andre Borschberg alternates with fellow pilot Bertrand Piccard at the controls for each segment of what they hope will be the first round-the-world solar-powered flight. On April 24, Piccard landed in San Francisco, completing a trans-Pacific crossing after a nearly three-day trip that began in Hawaii. The flight took more than three times the 18 hours for Amelia Earhart to fly solo from Hawaii to California in the 1930s. The propeller-driven Solar Impulse flies without a drop of fuel and its four engines are powered solely by energy collected from more than 17,000 solar cells built into its wings. Surplus power is stored in four batteries during the day, to keep the plane aloft on extreme long-distance flights. The carbon-fiber plane, with a wingspan exceeding that of a Boeing 747 and the weight of a family car, is unlikely to set speed or altitude records. It can climb to 28,000 feet (8,500 m), and cruise at 34 to 62 mph (55 to 100 kph). In a precursor of their globe-circling quest, the two men completed a multi-flight crossing of the United States with an earlier version of the solar plane in 2013. (Reuters)

Solar-powered plane takes on Atlantic as part of round-the-world bid

A solar-powered airplane finished crossing the United States on Saturday, landing in New York City after flying over the Statue of Liberty during its historic bid to circle the globe, the project team said. 
 
The spindly, single-seat experimental aircraft, dubbed Solar Impulse 2, arrived at New York&#39;s John F. Kennedy International Airport at about 4 a.m. local time after it took off about five hours beforehand at Lehigh Valley International Airport in Pennsylvania, the team reported on the airplane&#39;s website. 
 
&quot;Such a pleasure to land in #NYC! For the 14th time we celebrate sustainability,&quot; said the project&#39;s co-founder Andre Borschberg on Twitter after flying over the city and the Statue of Liberty during the 14th leg of the trip around the globe. 
 
The Swiss team flying the aircraft in a campaign to build support for clean energy technologies hopes eventually to complete its circumnavigation in Abu Dhabi, where the journey began in March 2015. 
 
The solar craft&#39;s cruising speed, akin to that of a car, required pilots to take up meditation and hypnosis in training to stay alert for long periods. 
 
Borschberg alternates with fellow pilot Bertrand Piccard at the controls for each segment of what they hope will be the first round-the-world solar-powered flight. 
 
On April 24, Piccard landed in San Francisco, completing a trans-Pacific crossing after a nearly three-day trip that began in Hawaii. The flight took more than three times the 18 hours Amelia Earhart took to fly solo from Hawaii to California in the 1930s. 
 
The propeller-driven Solar Impulse flies without a drop of fuel and its four engines are powered solely by energy collected from more than 17,000 solar cells built into its wings. 
 
Surplus power is stored in four batteries during the day, to keep the plane aloft on extreme long-distance flights. 
 
The carbon-fiber plane, with a wingspan exceeding that of a Boeing 747 and the weight of a family car, is unlikely to set speed or altitude records. It can climb to 28,000 feet (8,500 m), and cruise at 34 to 62 mph (55 to 100 kph). 
 
In a precursor of their globe-circling quest, the two men completed a multi-flight crossing of the United States with an earlier version of the solar plane in 2013.

The plane collects energy from more than 17,000 solar cells built into its wings. It can climb to 28,000 feet and cruise at 34 to 62 mph

A solar-powered airplane finished crossing the United States on Saturday, landing in New York City after flying over the Statue of Liberty during its historic bid to circle the globe, the project team said. The spindly, single-seat experimental aircraft, dubbed Solar Impulse 2, arrived at New York's John F. Kennedy International Airport at about 4 a.m. local time after it took off about five hours beforehand at Lehigh Valley International Airport in Pennsylvania, the team reported on the airplane's website. "Such a pleasure to land in #NYC! For the 14th time we celebrate sustainability," said the project's co-founder Andre Borschberg on Twitter after flying over the city and the Statue of Liberty during the 14th leg of the trip around the globe. The Swiss team flying the aircraft in a campaign to build support for clean energy technologies hopes eventually to complete its circumnavigation in Abu Dhabi, where the journey began in March 2015. The solar craft's cruising speed, akin to that of a car, required pilots to take up meditation and hypnosis in training to stay alert for long periods. Borschberg alternates with fellow pilot Bertrand Piccard at the controls for each segment of what they hope will be the first round-the-world solar-powered flight. On April 24, Piccard landed in San Francisco, completing a trans-Pacific crossing after a nearly three-day trip that began in Hawaii. The flight took more than three times the 18 hours Amelia Earhart took to fly solo from Hawaii to California in the 1930s. The propeller-driven Solar Impulse flies without a drop of fuel and its four engines are powered solely by energy collected from more than 17,000 solar cells built into its wings. Surplus power is stored in four batteries during the day, to keep the plane aloft on extreme long-distance flights. The carbon-fiber plane, with a wingspan exceeding that of a Boeing 747 and the weight of a family car, is unlikely to set speed or altitude records. It can climb to 28,000 feet (8,500 m), and cruise at 34 to 62 mph (55 to 100 kph). In a precursor of their globe-circling quest, the two men completed a multi-flight crossing of the United States with an earlier version of the solar plane in 2013.

Solar plane lands in New York City during bid to circle the globe

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