Page 7 - AsiaElec Week 08 2021

AsiaElec RENEWABLES AsiaElec

PV addition could rise to

209 GW in 2021: BNEF

GLOBAL SOLAR PV capacity additions could be as high In China, Beijing’s efforts to meet its declared
as 209 GW in 2021, compared with 141 GW 2060 net zero target should ensure that growth
in 2020, new research from Bloomberg New continues.
Energy Finance forecasts. The report also said that massive expansions
BNEF’s first-quarter 2021 Global PV Market of polysilicon and wafer capacity are planned,
Outlook said that 2021 additions could range along with expected new glass capacity, in a bid
from a minimum of 160 GW to a maximum of to meet demand for new PV panels.
209 GW. Pricewise, the report anticipates prices drop-
Looking further ahead, 2022 installations ping to about $0.19 per Watt for standard mod-
could reach 221 GW, rising further to 240 GW ules based on 166mm wafers, with larger-format
in 2023. modules featuring 210mm wafers commanding
The ceiling of 209 GW is greater than BNEF’s a premium in markets without trade tariffs.
previous 2021 forecast of 194 GW, made in Jan- Price could drop further in future, falling to
uary, suggesting healthy confidence that mar- $0.18 per Watt in 2022 and $0.15 per Watt in
kets such as China will continue to show rising 2025. All this should drive cost reductions right
growth rates. across the solar value chain.
In China alone, BNEF forecast that 2020 In terms of silicon supply, there is enough
installations will reach 52 GW, while 2021 addi- silicon from outside Xinjiang Province to meet
tions will increase to 65-75 GW. demand even if the US and Europe set effective
Further out, the analyst is predicting 221 GW sanctions on products from the province, BNEF
of new capacity installations in 2022 and 240 found.
GW in 2023. Sanctions on silicon from Xinjiang may
The report found that India and China would require ingot suppliers to keep some product
show the fastest growth in 2021, although across unblended to supply the US and European
the world most countries’ solar markets are set markets, which may increase prices slightly and
for expansion in 2021. favour First Solar, the main non-silicon-based
India is set to benefit as the large number of module supplier, BNEF said. ™
projects delayed from 2020 because of the coro-
navirus (COVID-19) pandemic come online.

Scatec, Nizam Energy close financing for

Pakistan’s 150-MW Sukkur solar project

PAKISTAN NORWEGIAN renewable developer Scatec Scatec CEO Raymond Carlsen said: “We
and local partner Nizam Energy have secured a are proud to complete the financing of our first
$100mn financial closure for the 150-MW Suk- project in Pakistan together with our partners.
kur solar project in Pakistan’s Sindh Province. The government plans to increase the share of
The closure comes after the Dutch develop- renewable energy to 30% by 2030 and we look
ment bank FMO, Faysal Bank, Bank of Pun- forward to supporting this growth by delivering
jab and PAK Kuwait Investment signed credit 305 GWh of clean power annually.”
agreements for the non-recourse debt financing Located in Sindh Province, in the south-east
agreement. of Pakistan, the Sukkur project portfolio was
FMO is providing half of the debt with a awarded a ‘costs plus tariff’ agreement by the
$39mn credit facility, while the three local National Energy Power Regulatory Authority
commercial lenders have contributed PKR-de- (NEPRA) early last year.
nominated credit facilities worth a combined For this project, Scatec will provide engi-
PKR2.2bn ($13.8mn). neering, procurement and construction (EPC)
The credit facilities will cover up to 75% of the services, as well as operations, maintenance
total cost of the 150-MW Sukkur project. Scatec (O&M) and asset management services to the
and Nizam Energy intend to start construction power plants. The company will hold 75% of
within the first half of this year. the equity, while Nizam Energy will own the

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