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280GW of solar potential lies within India's reservoirs
About 18,000 sqkm can be utilised for floating solar PV development.India's reservoirs have 18,000 sqkm of area with the potential to generate 280GW of solar power through floating solar photovoltaic (PV) plants, according to a report by The Energy and Resources Institute (TERI).The report has calculated the potential for floating solar photovoltaics (FSPVs), or 'floatovoltaics', on the basis of 30% of the water surface area of the country's medium and large reservoirs. The report provides state-wise details of floating solar potential in the form of a web-based interactive tool called India Floating Solar PV-Tool, which has also been developed under this study. Its findings said that the state of Maharashtra has the most potential and can generate 57,891MW of electricity through solar PV installations on 3173 sqkm of water surface area in reservoirs.At present, ground-based installations form 93.1% of India's grid-connected solar PV sector. The installation cost of utility-scale solar PV in the country has reduced by 84% between 2010 and 2018, making India the country with the lowest installation cost for utility scale solar PVs.“However, solar PV deployment is quite land intensive and scaling up projects requires large chunks of contiguous land parcels, which has its own set of challenges. In order to keep the pace of development commensurate with India's national targets for solar capacity additions, alternatives such as floating solar need to be explored and established,” TERI said.
280GW of solar potential lies within India's reservoirs
About 18,000 sqkm can be utilised for floating solar PV development.India's reservoirs have 18,000 sqkm of area with the potential to generate 280GW of solar power through floating solar photovoltaic (PV) plants, according to a report by The Energy and Resources Institute (TERI).The report has calculated the potential for floating solar photovoltaics (FSPVs), or 'floatovoltaics', on the basis of 30% of the water surface area of the country's medium and large reservoirs. The report provides state-wise details of floating solar potential in the form of a web-based interactive tool called India Floating Solar PV-Tool, which has also been developed under this study. Its findings said that the state of Maharashtra has the most potential and can generate 57,891MW of electricity through solar PV installations on 3173 sqkm of water surface area in reservoirs.At present, ground-based installations form 93.1% of India's grid-connected solar PV sector. The installation cost of utility-scale solar PV in the country has reduced by 84% between 2010 and 2018, making India the country with the lowest installation cost for utility scale solar PVs.“However, solar PV deployment is quite land intensive and scaling up projects requires large chunks of contiguous land parcels, which has its own set of challenges. In order to keep the pace of development commensurate with India's national targets for solar capacity additions, alternatives such as floating solar need to be explored and established,” TERI said.
Canadian Solar sells Japanese solar power plant for $205m
It also proceeded to start on two solar PV plants in the Fukuoka and Ibaraki prefectures.Canadian Solar completed the sale of Yamaguchi Shin Mine, a 56.3MWp operational solar power plant in the Yamaguchi Prefecture in Japan, according to an announcement.Hana Financial Investment, a subsidiary of Hana Financial Group, acquired the solar power plant for an enterprise value of approximately $205m (JPY22.3b). The sale was originally planned to close in the fourth quarter of 2019 but was delayed due to regulatory and contractual obligations required to be met prior to closing the transaction.Yamaguchi Shin Mine reached commercial operation in May 2018 and is powered by Canadian Solar high efficiency modules. The electricity generated is being purchased by Chugoku Electric Power Company, Inc. at the rate of $0.32(JPY 36) per kWh for 20 years.Canadian Solar will continue to provide asset management as well as operational and maintenance services for the plant after the transaction. Additionally, a five-year profit sharing agreement is in place, enabling Canadian Solar to secure additional revenue after the sale should the power plant outperform agreed upon metrics.Two new solar plantsIn a separate announcement, Canadian Solar has started the construction of two solar PV power projects in Japan. The first is a 13.6MWp project in the Ibaraki Prefecture which is expected to generate approximately 15,901MWh each year. The electricity will be purchased by Tokyo Electric Power Co., Inc. (TEPCO) under a 20-year feed-in-tariff (FIT) contract at the rate of $0.29 (JPY32) per kWh. The company expects the project to reach commercial operation by mid-2021.The second project is a 13.0 MWp project in Fukuoka Prefecture. The plant is expected to generate approximately 15,250 MWh of solar energy each year, which will be purchased by Kyushu Electric Power Co., Inc. under a 20-year FIT contract at the rate of $0.33 (JPY36) per kWh. The project is also expected to reach commercial operation by mid-2021.
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