Published Date | 2019 January 16

Bharat Heavy Electricals Ltd (BHEL) wins its largest order worth Rs 565 crore from Singareni Collieries Company Limited for setting up solar photovoltaic (SPV) power plants in Telangana, expected to promulgate the Solar Power Plant & Equipment market in India.
India: State-owned power equipment maker Bharat Heavy Electricals Limited (BHEL) has won an order for setting up 129 MW Solar Photovoltaic (SPV) power plants in Telangana from Singareni Collieries Company Limited. It is the largest SPV power plant order worth Rs 565 crores won by BHEL till date. The plants are to be set up at four locations in Telangana - Ramagundam (50 MW), Yellandu (39 MW), Manuguru (30 MW) and Pegadapally (10 MW), on engineering, procurement, and construction (EPC) basis. With this order, BHEL has increase its solar portfolio to more than 710 MW. Solar Power Plant & EquipmentAccording to BlueWeave Consulting, solar energy is an ideal long-term source of clean energy that can be used as a viable alternative to currently prevalent nonrenewable sources such as coal, gas, and oil. The growth of the solar energy market is driven by increase in environmental pollution and provision of government incentives & tax rebates to install solar panels. In addition, decrease in water footprint associated with solar energy systems has fueled demand in power generation sectors. Electricity demand in India has increased rapidly and is expected to rise further in the years to come and clean energy from the sun solar panels reduces the amount of electricity generating from fossil fuel. The demand for solar cells has gained major traction owing to surge in rooftop installations, followed by increase in applications in the architectural sector. Furthermore, the demand for parabolic troughs and solar power towers in electricity generation is expected to boost the demand for concentrated solar power systems. According to BlueWeave consulting’s upcoming report, Titled-“ India Solar Energy Market by Technology (Photovoltaic Cells and Concentrated Solar Power Systems), Solar Module (Monocrystalline, Polycrystalline, Cadmium Telluride, Amorphous Silicon Cells, and Others), Generation (First, Second, and Third), and Application (Agriculture & Horticulture, Architecture, Transportation, and Others),By Region (North, West, East & South); Size and Forecast, 2014-2025, the India solar energy market is estimated to have high growth over a forecasted period due to rising focus of the government towards sustainable energy generation, availability of abundant sunshine throughout the year makes the country an ideal location for solar power generation. Rapid population growth and increasing urbanization and industrialization is driving demand for energy, traditionally met by coal and crude oil. According to BlueWeave consulting’s upcoming report, Titled-“India Solar Power Equipment Market, By Equipment (Solar Panels, Mounting, Racking, & Tracking System, Storage System, and Others) and By Application (Residential, Nonresidential, and Utility), By Region (North, West, East & South); Size and Forecast, 2014-2025, the India solar equipment market witness robust growth over a forecasted period due to technology advancements and improvements in manufacturing processes. However, rising government investments in the sector, increasing technological advancements and growing environmental concerns are expected to boost solar equipment market over the forecasted years.