BHEL wins 200 MW solar energy orders worth Rs 800 crores, crossed 1 Gigawatt mark
- Published | 17 June 2019
Bharat Heavy Electricals Ltd (BHEL) bags
order worth Rs 800 crore for setting up two solar power plants secured from
NTPC Ltd. and Gujarat State Electricity Corporation Ltd., expected to
promulgate the Solar Power Plant & Equipment market in India.
India: Bharat Heavy Electricals Ltd (BHEL),
the country’s largest power equipment manufacturer, has bagged two orders worth
Rs 800 crore for setting up solar power plants of 200 Megawatt (Mw) capacity
for NTPC and Gujarat State Electricity Corporation (GSECL). The NTPC order
envisages setting up India’s largest floating SPV plant of 100 MW capacity at
NTPC Ramagundam in Telangana while the GSECL order involves setting up a 100 MW
ground-mounted SPV plant at Raghanesda Ultra Mega Solar Park at Banaskantha in
Gujarat. BHEL is currently offering Engineering, Procurement and Construction
(EPC) solutions for both off-grid and grid-interactive solar photovoltaic plants
at multiple locations in India. It has a current portfolio of over 1 Gigawatt
of solar photovoltaic plants including 500 Mw capacity that is already
commissioned. Besides, space-grade solar panels using high-efficiency cells and
space-grade battery are being manufactured at its Electronics Systems Division,
Bengaluru.
According to BlueWeave Consulting, the global
solar energy industry is boosting on accounts of a rising population coupled
with increasing non-conventional energy prices. The key factors which are
positively driving the solar energy market include growing environmental
concerns such as greenhouse gas emission accompanied by increasing energy
consumption. 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. Moreover, the rate of adoption is increasing due to
natural resource depletion and increasing awareness of Solar PV's potential to
alleviate pollution. Furthermore, multiple subsidies and tax benefits were
offered by governments for effectively utilizing barren land for solar power
plants are propelling the growth of the market.
A decrease in
water footprint associated with solar energy systems has fueled demand in power
generation sectors. Electricity demand in Asia has increased rapidly and is
expected to rise further in the years to come and clean energy from the wind
and sun solar panels reduce the amount of electricity generating from fossil
fuel. Building solar projects over water are becoming more common in Asia due
to population density and competition for available land. Also, Floating solar
projects also have logistical advantages. They can be placed near existing
electricity transmission infrastructure at hydropower sites, and close to
demand centers. Floating solar project could result in improvement in fishing
yields because elevated panels provide optimal room for fish while also
providing them with shade. The demand for solar cells has gained major traction
owing to a surge in floating solar projects, followed by an increase in
applications in the architectural sector. The technological innovations,
advancement coupled with growing awareness of energy security and
self-sufficiency along with favorable government legislation is expected to
fuel solar power plant and equipment market growth over the forecast period.
According to BlueWeave consulting’s
upcoming report, Titled-“ Global Solar Energy Market, by Technology(Photovoltaic Cells, 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), ByRegion (North America, Europe, Asia Pacific, Latin America, Middle East AndAfrica); Size and Forecast, 2019-2025” – For many years solar was considered as the main pillar of
a future renewable energy based system. Demand for a solar panel is increasing
prominently all over the world. North America market for solar panels has been
growing rapidly especially due to the growth of residential solar applications
in the U.S. Global solar panels market is characterized by improving conversion
efficiency by key market participants. Key companies operating in this market
include Suntech, Sharp Solar, First Solar, Trina Solar, Yingli, Hanwha
Solarone, Canadian Solar, SunPower, SolarWorld, and Renewable Energy
Corporation.
According to the upcoming report by
BlueWeave Consulting on “India Solar Photovoltaic (PV) Market By Type (Utility
Scale, Rooftop), By Technology (Fixed Tilt, Single-axis Tracker), By Region
(North, West, East & South); Size and Forecast, 2014-2025” The Indian solar photovoltaic market
has seen tremendous growth over the projected period. Various subsidies and
incentives provided by the government have created a good amount of awareness
and agreeableness among the end users for adopting solar power as an
alternative source of energy over conventional sources. With an increasing
focus of the government on the development of the renewable energy sector,
technical improvements, solar power cost, and the price will drive the solar
photovoltaic market in India.
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
witnessed robust growth over a forecast 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.
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