Page 10 - AsiaElec Week 32

AsiaElec
NEWS IN BRIEF
AsiaElec
TNB. e proposed internal restructuring is aimed at preparing TNB to meet upcoming reforms in Malaysia’s electricity supply industry.
As part of the Malaysia Electricity Supply Industry 2.0, the Ministry of Energy, Science, Technology, Environment and Climate Change (MESTECC) aims to reform the country’s electricity supply industry into a more competitive and robust sector.
COAL
Adani Power acquires GCEL
Adani Power Limited (APL), India’s largest private sector thermal power producer,
has completed the acquisition of GMR Chhattisgarh Energy Ltd. (GCEL), which owns and operates a 1,370MW supercritical power plant in Raipur District of Chhattisgarh.
52.38% of the equity stake in GCEL was acquired from its consortium of lenders, following the approval of APL’s resolution plan to acquire a controlling equity stake and restructure its debt.
e balance 47.62% equity stake was acquired from the GMR Group.
e Raikheda power plant, which utilises boiler and turbine generator equipment supplied by Doosan Heavy Industries, is situated close to the coal bearing areas of Chhattisgarh.
is locational advantage will allow GCEL to source domestic coal with lower logistics cost, and make it more competitive while bidding for long-term power purchase agreements (PPAs).
GCEL presently supplies power to Gujarat under a short-term, 1,000MW Case 4 PPA with the Gujarat Urja Vikas Nigam Ltd.
e addition of 1,370MW capacity, along with the recently concluded acquisition of the 600MW Korba West Power Co. Ltd., solidi es APL’s position as India’s largest private sector thermal power producer. It has aggregate operating capacities of 12,450MW and gives
it a strong presence in India’s leading power generating as well as power consuming regions. With these developments, APL is now uniquely poised to contribute to the forthcoming growth phase of India’s electricity sector, driven by a robust economic growth,
as well as an increase in the market size led by reforms under the government’s ambitious ‘power for all’ vision.
APL now has a healthy mix of open capacities as well as capacities tied up in long-term PPAs, which provide it long-term visibility while allowing it to tap into real growth opportunities.
RENEWABLES
Senvion India to gain operational control for better local market positioning
German turbine maker Senvion is to unbundle its Indian unit transform Senvion India into an standalone business unit.
e new arrangement means that Senvion India can operate independently to o er all services to its clients including in-country turbine supply agreements, engineering, manufacturing, local R&D support and service provision.
e arrangement will help the company serve local clients in a growing market in the best possible way by improving e ciency and streamlining operations. Senvion India will continue to remain a wholly owned subsidiary of Senvion GmbH.
Senvion India will be furnished with
all licences to the extend necessary, R&D knowhow and technical support in order to strengthen local capabilities.
e Senvion 2.3M series is the rst fully modular platform that can be customized throughout India and other global markets to deliver business case certainty associated with
lowest Levelized Cost of Energy (LCoE) to customers.
e rst 2.3M130 was recently installed
in Gujarat and is one of the largest turbines installed in India, generating su cient electricity to provide over 1,500 Indian homes with clean energy. e turbine is scheduled to receive full certi cation before the end of this year.
Yves Rannou, CEO of Senvion, says: “Senvion India is in a unique position within our business as it o ers the full scope of supply, service and manufacturing. Combined with the signi cant potential for growth within the Indian market, this opportunity means that we can o er our customers
even greater local support and full turnkey EPC provision while ensuring full access
to localised R&D support for turbines. Simultaneously, we continue to focus on our accelerated M&A process to potentially sell Senvion as a whole.”
SENVION
Chinese solar approaches grid parity
e price of solar power has become lower than grid-supplied electricity in hundreds of cities across China, according to a new study, marking an important in ection point in the country’s deployment of renewable energy.
e paper, written by researchers in both China and Sweden and published Monday
in the British peer-reviewed journal Nature Energy, concludes that 344 prefecture-
level Chinese cities can now deliver lower electricity prices from solar photovoltaics than from the grid, without relying on government subsidies.
Solar prices in nearly a quarter of those cities can also compete with coal-generated power, according to the study.
e ndings suggest that solar generation across China is approaching grid parity, the critical point at which a new energy resource costs the same or less than grid-supplied conventional energy forms like fossil fuels.
Previous studies suggested that grid parity for solar power in China might be years away from becoming a reality.
A er years of rapid growth, China’s solar industry has been consolidating since June last year, when the government pulled the plug
on its generous subsidies program in a bid to curb excess capacity and wasted investment.
Nonetheless, China remains the world’s largest generator of solar power and installer of solar panels.
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Week 32 13 •August•2019