Solar Project Financing
19-12-2013, DLF City Club, Gurgaon: The Workshop on Solar Project Financing organized by Firstgreen Consulting Pvt Ltd got overwhelming response from the participants from financial institutions, Project Developers, Private Equity firms, Manufacturers, EPCs, SECI, REC and MNRE.
The workshop started at 10:00 am with welcoming address by Dr. Sanjay Vashishtha, CEO Firstgreen briefing about the workshop, later the workshop inauguration was done by Shri Tarun Kapoor, Joint Secretary MNRE, He addressed the various financing issues related to JNNSM and bottlenecks related to financing solar PV projects with past policy schemes and the upcoming policy of viability gap funding (VGF). He also explained how solar PV can play a dominant role in future in terms of India’s Energy security. He ended his presentation with positive note that there will be complete support to developers from MNRE through SECI, IREDA and various financial institutions. He also highlighted the efforts of MNRE in arranging low cost funding through clean energy fund for solar projects.
Mr. Ramesh Kumar, GM, SECI addressed the various initiatives of SECI in ground mounted and rooftop solar projects and also highlighted the recent initiatives of SECI for 750 MW VGF scheme. He also addressed the various issues related to transmission infrastructure in various states and their role in achieving the targets for large scale deployment in solar PV projects. He also addressed the various bottlenecks related to Net-Metering schemes in India and the support from the grid for net metering policies for rooftop segment in India.
Dr. Sanjay Vashishtha, CEO Firstgreen, spoke on “Bankability of Solar Projects” , how to make your solar project Bankable. He highlighted five key factors which needs to be considered by the project developers in making their solar projects bankable. These factors include the resource assessment, technology selection, EPC selection, Installation and commissioning, and O&M. He shared few case studies where in technology, solar resource assessment had played a vital role in bankability of solar projects. He highlighted how the delays in financial closure can affect the financial viability of a solar project.
Mr. Raffi Garbadeain, CTO-First Solar discussed about the thin film technology and how their product can be well suited to Indian environment. He also shared various case studies of existing plants of CdTe and about their corporate sustainability to make the solar projects bankable. He highlighted the First Solar’s efforts in technology development and cost reduction.