Global Concentrated Solar Power Industry Report 2010-2011 HighRes

Market Brief
Asia Pacific Renewable Power Advisory

ID# APRP 825-100810
India Solar: The Dawn of an Emerging Market
10 August 2010
Priya Barua +1 617 551 8587 priya.barua@ihs.com
2010 EMERGING ENERGY RESEARCH, LLC. All rights reserved. Reproduction of this publication in any form without prior written permission is strictly forbidden. The information contained herein is from sources considered reliable but its accuracy and completeness are not warranted, nor are the opinions and analyses which are based upon it. Photo Source: Viajar24h.com
Summary
Indias emergence as an opportunity for the PV and CSP solar markets has largely been driven by incremental national and state regulatory policies to achieve a national target of 20 GW of solar by 2022. However, nearterm activity remains uncertain due to regulatory and financial risk
To build upon the paltry 13 MW of solar installed to date, the National Solar Missions aggressive three-phased schedule has attracted as much as 5.6 GW of planned projects. Phase 1 (2013) 1 GW; Phase 2 (2017) 4 GW to 10 GW; Phase 3 (2022) 20 GW (cumulative)
The Ministry of Renewable Energys (MNRE) 2008 pilot scheme for 50 MW of grid-connected solar sparked a surge of development interest that has transitioned into a more robust program, including a 25-year national feed-in tariff (FIT) through the Central Electricity Regulatory Commission (CERC), a mechanism for bundling solar energy with coal through National Thermal Power Corporation (NTPC), solar-specific Renewable Purchase Obligations (RPOs), and a Renewable Energy Certificate (REC) mechanism
At the state level, Maharashtra, Rajasthan, Gujarat, and Tamil Nadu have implemented FITs that are expected to increase in significance with July 2010 caps on national tariff utilization for PV (<5 MW per project) and local content requirements
At this early stage, project developers are relying heavily on foreign experience in system integration, design, and investment. However, escalating local content requirements and on-the-ground knowledge will be central to growth of the India solar market
MNREs local content requirement for Phase 1 installations is expected to draw upon current module and cell suppliers for PV and structural materials for CSP, but to meet the domestic component requirements, additional PV capacity will be needed to offset the 65% of inventory exported to Europe by existing players. Manufacturing incentives for PV have resulted in a projected domestic manufacturing capacity of over 1,250 MW in PV modules by year-end 2010 Over 70% of pipeline projects hinge on foreign partnerships with German and US solar players, which offer banks and regulatory agencies, demonstrated development experience, financial strength, and technologyparticularly in CSP The India solar project pipeline is highly fragmented among 60 solar companies that have projects totaling approximately 5.6 GW, indicating a high degree of speculation and uncertainty Financing and the high cost of capital (10% to 13%) will continue to challenge the market and attract less risk-averse and experienced developers seeking to break through in a less mature and competitive market
Asia Pacific Renewable Power Advisory APRP 825-100810 Page 2
Summary (continued)
Solar PV technology is expected to dominate the solar industry through 2015 due to its more rapid deployment, size and siting flexibility, and domestic manufacturing presence
Nearly 85% of Indias solar pipeline projects utilize PV technology, but CSPs value is expected to emerge beyond 2015 with cost improvements and technology demonstrations (e.g. dish engine, central receiver, storage). Furthermore, Indias high demand for power, heavy coal usage, and limited gas resources make CSP a potential longer-term option for hybrid plants and industrial steam The impact of Applied Materials decision to discontinue supplying its amorphous silicon (a-Si) Sunfab line has yet to be seen, but Signet Solar (which has filed for bankruptcy), KSK Surya Photovoltaic Venture (KSK), and Moser Baer each have outstanding India manufacturing capacity agreements for 900 MW, 150 MW, and 40 MW, respectively 2010 announcements by ACME Energy Solutions (46 MW) and SunBorne Energy (50 MW) in Gujarat to deploy PV rather than initially planned central receiver (eSolar) and parabolic trough technology, respectively, signal CSP technologys challenge in the cost-driven and riskier India market. Abengoa Solar has adapted its strategy to supply industrial steam CSP technology to local development partner Maharishi Solar
Asia Pacific Renewable Power Advisory APRP 825-100810
Page 3
Contents
Solar Development Forecasts Regulatory Environment Project Development
Manufacturing Landscape
Value Chain Analysis Company Profiles
Page 4
Solar Development Forecasts: India Outlook

Solar Mission Target 25,000 20,000 15,000 10,000 5,000 Total Announced Solar Pipeline: PV: 4,800 MW CSP: 900 MW EER CSP Forecast (base case scenario) EER PV Forecast (base case scenario)
MW
0
2010
2010 Solar Mission Targets EER CSP Forecast (base-case scenario) EER PV Forecast (base-case scenario)
2011
2011
2012
2012
2013
2013 1,000
2014
2014
2015
2015
2016
2016
2017
2017 10,000
2018
2018
2019
2019
2020
2020
2021
2021
2022
2022 20,000
0 23
0 53
25 93
50 293
75 493
100 993
200 1,493
300 1,993
400 2,793
500 3,593
600 4,393
700 5,393
800 6,393
Note: EER scenario forecasts are sourced from our 26 May 2010 Global Renewable Power Generation Forecasts: 2010-2025 Source: IHS Emerging Energy Research
EERs base-case scenario highlights the significant challenges facing India solar build-out, with only 36% of the 2022 Solar Mission target being achieved under current market conditions
Solar Development Forecasts: India Outlook

Drivers Aggressive solar targets reaching 20 GW by 2022 have attracted global players looking for less saturated markets and domestic players interested in tapping into this market Government desire for India to become an industrial manufacturing base to the CSP and PV solar sectors Attractive national feed-in tariffs and state-level initiatives to entice development activity High-solar-resource availability, accessible solar resource zones Very high domestic power demand and inability to meet these energy needs through other energy resources (coal, limited natural gas) Demand for flexible power generation technology that can operate at utility-scale or in a distributed setting to offset infrastructure challenges Inhibitors Financial risks: Difficulty attaining financing/equity investors; high cost of capital (10% to 13%); inherent market risks associated with operating in India Unpredictable long-term regulatory environment associated with feed-in tariffs and renewable development funding Heavy fragmentation across the value chain indicates the more speculative nature of the Indian market Lack of existing CSP technology knowledge Delays in project allocations and permitting, particularly for projects under the National Solar Mission Inadequate infrastructure for centralized power
To meet the India Solar Missions aggressive targets, regulators, developers, and investors must overcome significant hurdles across the value chain, including technology costs, permitting, grid interconnection, and bankability
Contents
Page 7
Regulatory Environment: National Targets for Solar Generation

National Solar Mission Targets (GW)
25 20 15 GW On grid Off grid
Details
To date, only about 13 MW of total solar generation has been installed in India, highlighting the permitting, financing, and development hurdles The MNREs solar targets, announced in 2009, are broken into three phases that are challenged by financial risks, lack of guarantee mechanisms, and delays in permissions and project allocations On-Grid Targets: Phase 1 (2010 2013): 1 GW (plus 100 MW of rooftop PV and small power plants) Phase 2 (2013 2017): 4 GW 10 GW Phase 3 (2017 2022): 20 GW Key Incentives: FITs, generation-based incentives, and subsidies for rooftop PV Technology: All Off-Grid Targets: Phase 1 (2010 2013): 200 MW Phase 2 (2013 2017): 1 GW Phase 3 (2017 2022): 2 GW Eligibility: <100 kW capacity; up to 250 kW/site for minigrids Key Incentives: Capital subsidies Technology: All
10
5 0 2013 2017 2022
20 15 10 MW 5 0
Installed Capacity (MW)
Installed Capacity of 2013 Target
2007
2008
2009
2010
Installed
Un-installed
Source: IHS Emerging Energy Research
To date, on-grid solar development capacity in India is <14 MW and will be significantly challenged to hit the incremental targets en route to 20 GW by 2022
Regulatory Environment: Solar Generation Policy

India Solar Tariff Rates
Solar PV 30 Concentrated Solar Power
National Grid-Connected Solar Incentive Mechanisms

Solar Power Plants (PV: <5 MW; CSP: 5 MW to 100 MW) Central Electricity Regulatory Commission (CERC) Feed-in Tariff: Duration: 25 years, tariff revision on annual basis Tariff Rate: PV: Rs.17.91 (US$0.38)/kWh CSP: Rs.15.31 (US$0.38)/kWh Eligibility: Solar PV projects commissioned by March 2012 and CSP projects commissioned by March 2013 Limited to 1 GW solar production in Phase 1 (by 2013), local content requirement The National Thermal Power Commission Vidyut Vyapar Nigam (NVVN) will establish 25-year PPAs with solar power producers and bundle this power with unallocated coal quota from NTPC power stations for sale to state utilities MNRE Generation-Based Incentive (2008): Designed as a pilot scheme with a 50 MW cap; has been replaced by the Central Energy Regulatory Commission (CERC) FIT Rooftop PV (>100 kW) Duration: 25 years Applicability: <2 MW projects Tariff Rate: Fixed by the State Energy Regulatory Commission (SERC) Target by 2013: 90 MW installed capacity (>100 kW 2 MW); 10 MW (<100 kW) GBI Cap: 20 MW/state (28 states = 560 MW) Mechanism: MOU and PPA with distribution utility at rates determined by SERC; distribution utility in MOU with IREDA for availing GBI
25 Maharashtra Rs. 17.91/kWh if commissioned by March 2012 Minimum project capacity 3 MW Rs.17.91 (US$0.38)/kWh Rajasthan Rs.15.32/kWh if commissioned by 3/2012 Gujarat Rs.15/kWh Rs.5/kWh if commissioned by 12/2011 15
20
Maharashtra Rs. 15.31/kWh if commissioned by March 2013 Rs. 15.31 (US$0.33)/kWh Rajasthan Rs. 12.58/kWh if commissioned by March 2013 Gujarat Rs. 11/kWh and Rs. 4/kWh if commissioned by December 2011
10
Proposed Renewable Purchase Obligations (RPO)
State Tariff National Tariff

Solar-specific RPOs for utilities ranging from 0.25% of total generation by 2013 to 3% by 2022 Provision to meet requirements through solar-specific RECs State utilities allowed to use solar part of bundled power from NVVN to meet RPOs
The national tariff is limited to one PV project (<5 MW) per developer in Phase 1 of the Solar Mission. If the 500 MW targets planned for CSP and PV are surpassed, projects will be awarded based on costcompetitiveness
Regulatory Environment: State Policy for Grid-Connected Solar Generation

State-Level Feed-in Tariffs
# State State Incentive Details

Rajasthan
IPPs 45%
Duration: 25-year levelized feed-in tariff PV: Rs.15.32/kWh if commissioned by March 2012 CSP: Rs. 12.58/kWh if commissioned by March 2013 Target: 60 MW RPO target; projects allocated: 66 MW
Duration: 25-year tariff; split into years112 and years1325 PV: Rs.15/kWh and Rs.5/kWh if commissioned by December 2011 CSP: Rs. 11/kWh and Rs. 4/kWh if commissioned by December 2011 Minimum project capacity: 5 MW Target: 500 MW installed capacity ceiling; to date, state government has allocated 716 MW of solar
Gujarat
6
3 Maharashtra
Duration: 25-year levelized feed-in tariff PV: Rs. 17.91/kWh if commissioned by March 2012; minimum project capacity: 3 MW Rooftop PV: Rs. 18.41/kWh if commissioned by March 2012 CSP: Rs. 15.31/kWh if commissioned by March 2013 Mandated 6% power procurement through renewables (FY 20102011), 1% annual escalation Duration: 25-year PV tariff: Rs. 18.45/kWh Project capacity: 1 MW to 3 MW 80 MW installed capacity cap No CSP incentives have been announced
7
4 Tamil Nadu
4
5 Karnataka
Karnataka Electricity Regulatory Commission is currently determining tariff order for grid-connected solar Karnataka Power Corporation has a target of 100 MW of solar power projects in partnership with the private sector Plans for 110 MW of ground-based and 5 MW of rooftop solar power by 2013 2 GW solar city proposed, but no state-level tariffs announced
State with solar feed-in tariffs

6 7
West Bengal Andhra Pradesh
To date, state-level incentives have been overshadowed by the higher national tariffs, but their importance has been elevated by the recent announcement of restrictions on national PV tariffs
Contents
Page 11
Project Development: Solar Development by State

Breakdown of Proposed Projects By Solar Technology
2,500 Unknown 2,000 PV CSP 1,500
MW
Solar Resource Map and Project Locations
2 MW 66 MW
1 MW Delhi 0.2MW - Haryana 0.85 MW
Solar Target
716 MW
1,000 3 MW; 115 MW proposed 230 MW 0 3 MW; 3 MW under construction
500
1 MW
2,000 MW proposed
3 MW 5 MW Pipeline/proposed projects
Notes: 6 GW Clinton Climate Initiative: 3 GW in Gujarat ; 3 GW in Rajasthan not included Source: The Energy and Resources Institute (TERI), IHS Emerging Energy Research
Installed projects
At this early stage, the 4.8 GW of pipeline projects do not correlate with solar resources, but are rather driven by existing developer networks and increased state government initiatives. Additional Solar City programs have sparked a large pipeline of projects in Andhra Pradesh and Orissa
Project Development: Solar PV Development by Company

Installed PV Capacity, Systems >100 kW
7 6 5 4 MW 3 2 1 0 Titan Photon Energy Energy Systems Systems Azure Power Moser Baer Reliance Industries Others 500
2 GW 1 GW
Proposed PV Pipeline by Developer

Domestic Player Foreign Player Foreign Domestic JV
Lakshwadeep
Uttar Pradesh West Bengal Delhi Karnataka
MW
450
500 MW
Total Capacity: 4,828MW Includes 29 players (domestic and foreign) with combined project capacities <20MW
400 350
300
250 200 150 100 50 0
Maharashtra Haryana Punjab
Total installed solar capacity to date is comprised of only PV, and stands at about 1% of the 1 GW target for 2013 Installed capacity includes Moser Baer 1 MW thin film project in Maharashtra, and Reliance Industries 1 MW of rooftop PV in Delhi
Over 60% of pipeline PV capacity is being developed by Belgiumbased Enfinity and its Indian partners Videocon Industries and Titan Energy Systems While more than 50 players (domestic and foreign) have pipeline PV projects, bank requirements for demonstrated experience in PV installation have attracted European companies
Page 13
Project Development: CSP Development by Company

Proposed CSP Pipeline by Developer
Domestic Foreign Foreign - Domestic JV
Foreign CSP Players Active in India

Company (Technology) Development Details 40 MW proposed solar thermal power plant in Gujarat. Project allocated by Gujarat Energy Development Agency Partnered with Maharishi Solar to expand their product offerings from PV to solar thermal technologies for industrial steam applications Negotiating with developers to set up 50 MW solar thermal power plants using Linear Fresnel technology acquired from Ausra Exclusive license with ACME Energy Solutions to construct 1 GW of CSP capacity by 2020 ACME has 5% stake in eSolar However, ACME has replaced its originally planned 46 MW plant in Gujarat with PV Partnered with Suryachakra Power to develop 300 MW of solar thermal power plants 10 MW feasibility study to supply Dalmia Cement with solar system to be located Jodhpur, Rajasthan Dalmia Group plans to develop 400 MW of installed capacity in the next five years
300
Cancelled 46 MW (not included): Converted to PV
250
Total Capacity: 840 MW
Abengoa Solar (Parabolic Trough)
200 MW Areva Renewables (Linear Fresnel)

Cancelled: Converted to PV
150
Includes 5 domestic players with 10 MW and 15 MW project capacities
100
eSolar (Central Receiver) 50 MAN Solar Millennium (Parabolic Trough)
Infinia (Dish Engine)
Note: Capacity includes specific project announcements; 6 GW proposal from Clinton Climate Initiative has not been included; NTPC: National Thermal Power Commission Source: IHS Emerging Energy Research
Due to the lack of local CSP experience, poor transmission infrastructure, and bankability, centralized CSP generation will be slow to scale. However, hybrid plants in conjunction with domestic industrial manufacturing and supply chains (e.g. steel, turbines) offer longer-term opportunity beyond 2015
Contents
Page 15
Manufacturing Landscape: Solar PV

Operating Facilities Annual Production Capacity of Top Five Domestic PV Component Manufacturers
Indosolar
Titan Energy Systems

Modules Module Expansion plans
TATA BP Solar
Cells Cell Expansion plans
Manufacturing facility Planned facility Companies Planned Solar PV Manufacturing Facilities

Company Technology/Products
Polysilicon, Ingots, Wafers, Cells, Modules
**Moser Baer Photo Voltaic
XL Energy
Annual Capacity
1 GW 3 facilities of 300 MW each
Solar Semiconductor
* **
Thin film (a-Si) modules Thin film (a-Si) cells
0
150 MW
100
200 MW
300
400
500
Note: *Filed for bankruptcy; **Signet Solar, Moser Baer, and KSK planned to use Applied Materials Sunfab a-Si line, which has been discontinued Source: IHS Emerging Energy Research
The manufacturing landscape is 70% dominated by large players with sufficient module manufacturing capacities to meet the initial 500 MW PV target. However, there is currently no domestic manufacturing presence in upstream components
Manufacturing Landscape: India Domestic Content Requirements

Domestic Content Requirements
1,000 1 GW 2014 Target for Phase 1 ~500 MW of PV ~500 MW of CSP
Analysis
Domestic content requirements will force leading suppliers Moser Baer and Tata BP to expand their manufacturing capacity, as both companies export as much as 70% of current CZECH supply to Europe REPUBLIC
The requirements will likely attract foreign players, particularly with more transparent demand-side incentives
If no local content is available (e.g. inverters), foreign imports are allowed AUSTRIA To bolster local content, the national government has set a target of 5 GW of installed capacity by 2020, including dedicated manufacturing capacities for 2 GW of poly-silicon The 30% requirement for CSP will draw upon Indias low-cost steel, cement, and construction sectors rather than in-country technology that will likely be imported from Europe and the US Manufacturing Incentives: Special Incentive Package Scheme BULGARIA (SIPS) for solar PV cell and module manufacturing Special Economic Zones: Income tax exemption for 15 years; allows 100% FDI investment in manufacturing Taxes/duties: Zero import duty for capital equipment and raw material and excise duty exemption Makes importing solar cells more economical for Indian module manufacturers than buying from Indian cell producers 12.8% duty on manufacturing component imports for cells/modules vs. zero duty on completely built modules
800
PV: Domestic modules mandatory for 150 MW awarded by March 2011 and commissioned by March 2012
600 MW
Use of domestic cells and modules mandatory for 350 MW awarded by March 2012 and commissioned by March 2013
400
CSP: 30% local content requirement for 500 MW of capacity awarded by March 2012 and commissioned by March 2013
200 Modules Cells Domestic
0 PV
CSP
While there is currently sufficient domestic manufacturing capacity to meet market demands, the export market has thus far proved to be a more lucrative market until India demand scales
Contents
Page 18
Value Chain Analysis: Solar PV

Cells Modules Development EPC/O&M Financing/Ownership
Indosolar Maharishi Solar Technology Webel SL Energy Systems XL Telecom Solar Semiconductor Central Electronics Ltd. (CEL) Lanco Solar Bharat Heavy Electricals Ltd. (BHEL) Moser Baer TATA BP Solar Photon Energy Systems Suniva Lanco Solar BHEL/Suniva BHEL Titan Energy Systems Karnataka Power (KPCL) Moser Baer, IFC, Mahagenco, Tamil Nadu Energy Development Agency, Omax Autos TATA BP Solar, North Delhi Power Karnataka Power KPCL, West Bengal Green Energy Development Corporation, Power Finance Corporation
Solar Semiconductor CEL
Moser Baer, SunEnergy Europe TATA BP Solar Photon Energy Systems , Conergy Reliance Industries Titan Energy Systems, Suniva, Enfinity Resun Energy/Juwi Solar
Suniva
Suniva/Titan Energy Systems
Titan Energy Systems
IBC, Suntech Power, Yingli, Sulfercell, Kaneka
Refex Energy/IBC Solar
Refex Energy Punjab Energy Development Agency Empres Voss Capital Azure Power, Helion Venture Partners, Foundation Capital, IFC Astonfield Renewable Resources
Videocon Industries/Enfinity SunPower/Enterprise Business Solutions Fidelis Energy/Esar solar Suntech, EY Solar Group
Masdar PV
Fidelis Energy
Azure Power (also has partnership with SunEdison)

Astonfield Renewable Resources Belectric ICE Solar (American Capital Energy and MSM Energy
Domestic Player Domestic-Foreign Partnership Foreign Player

IREDA, Power Finance Corporation, State Bank of India, Punjab National Bank, ICICI, World Bank, Asian Development Bank, Kfw Page 19
Value Chain Analysis: CSP

Technology Provider Technology Integrator Development Abengoa Solar EPC/O&M Financing/Ownership
NTPC
Adani Power Ltd. Electrotherm Ltd. Welspun Urja Ltd. Cargo Motors GRD Power Private Ltd. eSolar MAN Solar Millenium ACME Energy Solutions Suryachakra Power/MAN Solar Millennium SunBorne Energy Technologies Andhra Pradesh Central Power Distribution Company General Catalyst Partners IREDA, Power Finance Corporation, State Bank of India, Punjab National Bank, ICICI, Asian Development Bank, Kfw, World Bank
Domestic Player Domestic-Foreign Partnership Foreign Player

With the exception of Abengoa Solar, no solar players have capabilities across the entire value chain. Indias complex permitting and project development demands will bolster partnerships between local developers and foreign technology players
Contents
Page 21
Company Profiles: Moser Baer Photo Voltaic Limited

Company Profile Moser Baer Photo Voltaic Limited (MBPV) and PV Technologies India Limited (PVTIL) are subsidiaries of Moser Baer India Ltd. The companies were launched between 2005 and 2007. Moser Baer India has leveraged its core competencies in high volume manufacturing of optical media products to create a world-class photovoltaic manufacturing facility in India. Moser Baer PV has a current production capacity of 90 MW (crystalline cells), 90 MW (crystalline modules), and 50 MW (thin films). As part of its expansion plans, Moser Baer plans to increase the crystalline silicon capacity of its PV business from 140 MW to 240 MW in a two-phase process: crystalline silicon capacity additions and then a combination of crystalline silicon and thin film (a-Si). Moser Baer planned to use Applied Materials Sunfab line, which has been discontinued for new clients. The company also has an initial capacity of a few megawatts in concentrated PV Moser Baer has a significant equity stake in Solaria, a minority stake in Stion Corporation, an agreement with Solfocus for exclusive distribution rights of Solfocus CPV panels in South Asia, and an alliance with Skyline Solar PV Strategy Key Points
Year Established 20052007 Greater Noida, Uttar Pradesh, with plans for expansion in Tamil Nadu and Andhra Pradesh Cells Modules Concentrated PV c-Si a-Si
Presence Across PV Value Chain Supply Silicon Wafers Development Development Ownership
Cells
Modules
Plans to invest US$125 million in manufacturing facilities for solar PV cells in FY 20102011 Commissioned first 1 MW a-Si thin film solar plant in Chandrapur, Maharashtra in April 2009 as an EPC provider Announced further plans to commission a 5 MW solar farm in Tamil Nadu and Rajasthan
Manufacturing Facility
Products Manufactured
PV Technologies
Manufacturing facility
Installations Ground-mounted Rooftop
Page 22
Company Profiles: Solar Semiconductor

Company Profile
Solar Semiconductor is a vertically-integrated, full-service systems provider. The company also manufactures PV modules and cells. The company offers PV solutions, products, and services to worldwide markets including the Americas, Europe, Asia, and Africa. Solar Semiconductor specializes in turn-key, grid-connected solar power and caters to off-grid applications. The company was established in Sunnyvale, California, US, and has offices in the US, Canada, and Dubai, with manufacturing operations in Hyderabad, India Solar Semiconductor has an overall annual module manufacturing capacity of 195 MW. It has orders to supply PV modules to large players in the global solar market including Q Cells AG, IBC Solar, ersol Solar Energy, and Motech Industries
Presence Across PV Value Chain Supply Silicon Development Development Ownership
Wafers
Cells
Year Established 2006
Modules
PV Strategy Key Points

Manufacturing Facility Fabcity in Hyderabad and Kompally, Andhra Pradesh
Motech Industries (Taiwan) recently signed a cell supply deal with Solar Semiconductors Announced plans to develop 300 MW power projects in California and Ontaria, Canada in partnership with Conex Energy PV manufacturing facility planned in Ontario, Canada
Modules
PV Technologies
c-Si (mono and multi)
Installations
Ground-mounted and rooftop
Page 23
Company Profiles: TATA BP Solar

Company Profile TATA BP Solar, a joint-venture between BP Solar (51%) and TATA Power Company Limited (49%), has been in the Indian solar industry since 1989. The company manufactures solar PV cells (mono- and multi-crystalline), modules, products, and turnkey systems. TATA BP Solars manufacturing facilities for solar PV and solar thermal (hot water) products are in Bangalore, Karnataka, India. The company exports more than 70% of its products to Germany, Spain, and the US TATA BP Solar has added a new production line of 32 MW of solar PV cells at its plant in Bangalore, which brings the total cell manufacturing capacity to 84 MW. It also has a module capacity of 125 MW. It has an expansion plan to realize a manufacturing capacity of 300 MW by 2012. Domestically, the company has primarily served the off-grid solar market, but wants to position itself to service the new market opening up in the context of the National Solar Mission with additional cell capacity
Cells
Modules

Company targets a cumulative manufacturing capacity of 300 MW by 2010 Entered into a development partnership with NXP Semiconductors, the independent company founded by Philips, to develop various electronics controls to be released in the market in 2010
Bangalore, Karnataka
Cells Modules PV products Turnkey systems
Installations
Ground-mounted Rooftop
PV Technologies
c-Si (mono and multi)
Page 24
Company Profiles: Titan Energy Systems

Company Profile Titan Energy Systems (TITAN) was established in 1991 as one of Indias earliest solar system integration companies catering to the off-grid systems market. In 1995, TITAN established PV solar module manufacturing with an annual capacity of 3 MW. In 1999, TITAN began exporting crystalline solar modules to Schott Solar in Germany. The company later expanded its production capacity and established itself as the only Indian manufacturer to offer modules that use crystalline, amorphous silicon, and CIGs technologies
TITAN sources mono- and multi-crystalline solar cells from Schott, Motech, Suniva, Q-Cells, Ulbrich, STR, Krempel, and Madico. Today, TITAN has a 100 MW manufacturing facility in Hyderabad, India. Its global customers include Scatec Solar, Enfinity, Schott Solar, and Genyal
TITAN also undertakes design, construction, operation, and maintenance of grid-connected and off-grid solar systems on a turnkey basis for end customers in India. In 2009, TITAN was the EPC contractor for Indias first MW-scale, grid-connected solar power plant in West Bengal and currently has over 1 GW in pipeline projects
Cells
Modules

TITAN is planning to expand its module production to achieve a manufacturing capacity of 500 MW Titan Energy Systems and Enfinity have partnered to construct 1 GW of PV installations on 3,000 acres of land in Andhra Pradesh in the next five years
Hyderabad, Andhra Pradesh
Modules
Installations
Ground-mounted Rooftop
PV Technologies
c-Si (mono and multi) a-Si, CIGs
Page 25
Company Profiles: XL Energy

Company Profile XL Telecom and Energy, established in 1992, has decided to be a core player in the energy sector and has recently dropped Telecom from its focus and name. The company has partnerships with Kyocera and Corning XL Energy has an annual module production capacity of 192 MW, with plans for expansion. The company signed a five-year contract with Mola Solaire Produktions GmbH for the supply of 125 MW of multi-crystalline and monocrystalline solar wafers, which expires in 2013. XL Energy exports most of its modules to Europe. Major clients in Europe include Isolux, Epifanio, Digrun Solar, LT Trade Intl., and Mandik Corporation. Clients in India include government agencies and private sector companies Presence Across PV Value Chain Supply Silicon Wafers Development Development Ownership
XL Energy has decided to focus on grid-connected solar, and entered into a joint venture with EPC player SDEM TEGA S.A. (Spain) in May 2010 to target solar project development in emerging markets, including 500 MW of capacity in India
Cells
Modules

Installing 120 MW/year crystalline cell manufacturing capacity. Facility expected to be operational in 2010 Expanding overall annual module manufacturing capacity by 40 MW for total capacity of 232 MW
Hyderabad, Andhra Pradesh
Modules
Installations
Ground-mounted and rooftop
PV Technologies c-Si
Page 26
Company Profiles: Other PV Players

Company Technology Current Capabilities Supplies solar PV and solar thermal products. Bharat Heavy Electricals Ltd (BHEL) develops solar PV stand-alone, grid-connected, and hybrid power plants on a turnkey basis CEL is a public sector enterprise under the Ministry of Science & Technology, with an objective to commercially exploit indigenous technologies developed in India. CEL installed and commissioned Indias first 200 kW SPV roof top power plant in Manesar, Haryana Manufactures poly-crystalline solar PV cells. Was formerly known as Robin Solar Private Limited. Has two fully operational lines, each producing 80 MW annually with an average efficiency rating of 16+%, peaking at 17.2%. SCHMID GMbh provides technology on a turnkey basis Lanco Solar operates as a subsidiary of Lanco Infratech Limited, one of Indias top business conglomerates and among the fastest growing Has a vertically-integrated manufacturing facility and is the only Indian company to make multi-crystalline wafers. The company plans to expand its manufacturing capacity to 15 MW by 2010 Currently provides solar products, systems, and solutions Expansion Plans
Cells, Modules
To be announced
Cells, Modules, PV Systems
Plans to achieve full PV production capacity of 12 MW annually through better production management and to expand capacity further. Plans to develop BIPV modules (particularly rooftop) for domestic and export markets
Cells
Plans to increase its production capacity to 260 MW by 2011
Cells, Wafers, Modules
Lanco has plans to build a 120 TPA poly-silicon, ingot, and wafer manufacturing facility in a Special Economic Zone (SEZ) in Orissa, India Maharishi Solar has partnered with Abengoa to extend its portfolio to steam and power generation for industrial applications through parabolic concentrators RIL plans to set up a manufacturing facility for polysilicon, ingots, wafers, cells, and modules with a cumulative capacity of 1GW Planned manufacturing capacity expansion to 120 MW by 2012. Companys focus has been on mono-crystalline cells, but it is expanding to multi-crystalline
Cells, Wafers, Modules
Cells, Modules
One of the fastest growing companies in Indian solar PV industry, with 30% annual growth. Manufacturing capacity of 42 MW cells and 40 MW modules
Page 27
IHS Emerging Energy Research

IHS Emerging Energy Research provides analyst-directed advisory services on an annual subscription basis, providing market intelligence, competitive analysis and strategy advice in response to the specific needs of our clients. These services provide value-added support of clients competitive and market strategies, and are intended to be interactive, offering clients direct access to EER experts. Advisory service clients receive a stream of market and company briefs, ongoing market data and forecast support, telephone inquiry privileges, and regular analyst briefings. While much of the content is syndicated, clients also receive ongoing individual support of market assessment and strategy development needs. For more information on EERs advisory services, please contact: US Office
700 Technology Square Cambridge, Massachusetts, US 02139 Whitney Van Horne Regional Sales Manager Email: whitney.vanhorne@ihs.com Phone: +1 617 551 8580 Fax: +1 617 551 8481
Spain Office
Paseo de Gracia 47, Planta 2 Barcelona, Spain 08007 Paola Alcala Sales Support Manager Email: paola.alcalamartin@ihs.com Phone: +34 932 726 777 Fax: +34 93 467 6754
2010 EMERGING ENERGY RESEARCH, LLC. All rights reserved. Reproduction of this publication in any form without prior written permission is strictly forbidden. The information contained herein is from sources considered reliable but its accuracy and completeness are not warranted, nor are the opinions and analyses which are based upon it.
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Market Brief

Asia Pacific Renewable Power Advisory

India Solar: The Dawn of an Emerging Market

Priya Barua +1 617 551 8587 priya.barua@ihs.com

India Solar: The Dawn of an Emerging Market

India Solar: The Dawn of an Emerging Market

Asia Pacific Renewable Power Advisory APRP 825-100810

India Solar: The Dawn of an Emerging Market

Asia Pacific Renewable Power Advisory APRP 825-100810

India Solar: The Dawn of an Emerging Market

Solar Development Forecasts: India Outlook

India Solar: The Dawn of an Emerging Market

Solar Development Forecasts: India Outlook

India Solar: The Dawn of an Emerging Market

Asia Pacific Renewable Power Advisory APRP 825-100810

India Solar: The Dawn of an Emerging Market

Regulatory Environment: National Targets for Solar Generation

Installed Capacity (MW)

Installed Capacity of 2013 Target

Source: IHS Emerging Energy Research

India Solar: The Dawn of an Emerging Market

Regulatory Environment: Solar Generation Policy

National Grid-Connected Solar Incentive Mechanisms

Proposed Renewable Purchase Obligations (RPO)

State Tariff National Tariff

India Solar: The Dawn of an Emerging Market

Regulatory Environment: State Policy for Grid-Connected Solar Generation

State with solar feed-in tariffs

West Bengal Andhra Pradesh

India Solar: The Dawn of an Emerging Market

Asia Pacific Renewable Power Advisory APRP 825-100810

India Solar: The Dawn of an Emerging Market

Project Development: Solar Development by State

Solar Resource Map and Project Locations

1 MW Delhi 0.2MW - Haryana 0.85 MW

1,000 3 MW; 115 MW proposed 230 MW 0 3 MW; 3 MW under construction

India Solar: The Dawn of an Emerging Market

Project Development: Solar PV Development by Company

Proposed PV Pipeline by Developer

Maharashtra Haryana Punjab

Source: IHS Emerging Energy Research

Asia Pacific Renewable Power Advisory APRP 825-100810

India Solar: The Dawn of an Emerging Market

Project Development: CSP Development by Company

Foreign CSP Players Active in India

Cancelled 46 MW (not included): Converted to PV

Total Capacity: 840 MW

Abengoa Solar (Parabolic Trough)

200 MW Areva Renewables (Linear Fresnel)

eSolar (Central Receiver) 50 MAN Solar Millennium (Parabolic Trough)

Infinia (Dish Engine)

India Solar: The Dawn of an Emerging Market

Asia Pacific Renewable Power Advisory APRP 825-100810

India Solar: The Dawn of an Emerging Market

Manufacturing Landscape: Solar PV

Titan Energy Systems

Cells Cell Expansion plans

Manufacturing facility Planned facility Companies Planned Solar PV Manufacturing Facilities

**Moser Baer Photo Voltaic

Thin film (a-Si) modules Thin film (a-Si) cells

India Solar: The Dawn of an Emerging Market

Manufacturing Landscape: India Domestic Content Requirements