BRIDGE to INDIA_The India Solar Map_presentation

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    www.bridgetoindia.com

    INDIA SOLAR MAP

    Jasmeet Khurana

    BRIDGE TO INDIA

    September 2013

    Jasmeet.khurana@bridgetoindia.com

    Key highlights

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    BRIDGE TO INDIA, 2013 2

    Disclaimer

    2013 BRIDGE TO INDIA Energy Pvt. Ltd.All rights reservedApril 2013, New Delhi

    All products are owned by BRIDGETO INDIA and are protected by Indian copyright andinternational copyright/intellectual property laws under applicable treaties and/orconventions.

    BRIDGE TO INDIA retains exclusive and sole ownership of each report disseminated under thisagreement. The user cannotengage in any unauthorized use, reproduction, distribution, publication or electronic

    transmission of this product or the information/forecasts therein without the express writtenpermission of BRIDGE TO INDIA. No part of this product may be used or reproduced in anymanner or in any form or by any means without mentioning its original source.

    BRIDGE TO INDIA makes no warranties, expressed or implied, as to the ownership, accuracy,or adequacy of the content of this product. BRIDGE TO INDIA shall not be liable for anyindirect, incidental, consequential, or punitive damages or for lost revenues or profits, whetheror not advised of the possibility of such damages or losses and regardless of the theory of

    liability.For further enquiries, please contact:

    Mr. Jasmeet Khuranajasmeet.khurana@bridgetoindia.com

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    BRIDGE TO INDIA, 2013 3

    THE INDIA SOLAR MAP AN OVERVIEWThe India Solar Map is an all-in-one map that depicts the trends ofthe Indian solar market through simple and well-designedgraphics. We want this map to be a key ready reckoner for the solarindustry in India. We would like companies to retain and refer to

    this map in order to understand the market developments andmake sound strategic decisions based on the insights from thismap.

    BRIDGE TO INDIA interacts with various stakeholders in the marketon a regular basis to maintain a comprehensive project database.We also have in-house market models in place. We have checked

    our numbers with the respective companies in order to avoid anymisrepresentation. Wherever information was incomplete orunavailable we have worked with assumptions that have been speltout in the map itself.

    We would also request companies to help us achieve absolute

    accuracy by cooperating with us and sharing the details of theirprojects. This will help us work towards providing a reliable andtruly representative picture of the industry for all to benefit from.We would continue with the India Solar Map as a part of theportfolio of products we offer.

    B

    RIDGET

    OINDIA,2013

    Source: BRIDGE TO INDIAproject database

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    BRIDGE TO INDIA, 2013 4

    State policies have been the primary drivers

    for projects commissioned till date

    1.8 GW of projectshave been

    commissioned as ofAugust 2013

    Gujarat, Rajasthanand Maharashtra andare the top 3 stateswith the highest

    commissionedprojects

    There are 12 statesolar policies in placeup till date

    With a considerable

    number of LOIssigned, AndhraPradesh, Tamil Naduand Punjab will seethe most number ofprojectscommissioned in thenear future

    Key takeaway

    B

    RIDGETOINDIA,2013

    Source: BRIDGE TO INDIA project database and industry interviews

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    BRIDGE TO INDIA, 2013 5

    Around 42% modules used in India are thin film

    First solar has thehighest market share

    in the module market In crystalline

    modules, Canadiansolar has the highestmarket share

    5 out of top ten

    suppliers are Chinese No Indian

    manufacturer in top 5

    Vikram solar is theonly Indianmanufacturer to

    feature in the top 10 About only 18%

    market is catered bythe domesticmanufacturers

    Key takeaway

    B

    RIDGETOINDIA,2

    013

    Source: BRIDGE TO INDIA project database and industry interviews

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    BRIDGE TO INDIA, 2013 6

    40% of the market share is occupied by the top three

    EPC companies

    Moserbaer has donethe maximum EPC in

    India Several new

    companies haveforayed into the EPCspace and are doingrelatively well. Forexample, Raysexperts, Chemtrolssolar and Cirus solar.

    40% of the marketshare is occupied bythe top 3 EPCproviders

    Lanco has providedEPC to 75 MWMahagenco project

    Key takeaway

    B

    RIDGETOINDIA,2013

    Source: BRIDGE TO INDIA project database and industry interviews

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    BRIDGE TO INDIA, 2013 7

    Many project developers in India are doing EPC in-house

    Welspun Urja, as aproject developer, has

    the maximum numberof projects in India

    Moserbaer and Lancoare ranked in top 3under own EPC aswell

    Key takeaway

    B

    RIDGETOINDIA,2013

    Source: BRIDGE TO INDIA project database and industry interviews

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    BRIDGE TO INDIA, 2013 8

    Around 50% of the market share is distributed between

    SMA and Bonfiglioli

    SMA continues tooccupy the largest

    market share in Indiawhile Bonfiglioli iscatching up fast.

    ABB has managed togain a significantmarket share in thelast couple of years

    Schneider startedoperations recentlyand has managed tobuild a 6% share.

    Key takeaway

    B

    RIDGETOINDIA,20

    13

    Source: BRIDGE TO INDIA project database and industry interviews

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    BRIDGE TO INDIA, 2013 9

    In the next one year more than 700MW will be developed

    under state policies other than that of Gujarat

    1.1 GW of solar PVcapacity addition is

    expected in the nextone year

    Most of this capacityaddition would beunder state policiesand projects based onRPOs

    Going forward, nomajor installationsare expected underthe National SolarMission and Gujaratsolar policy

    Many new projects areexpected to come upin the states of TamilNadu and AndhraPradesh

    Key takeaway

    BRIDGETOINDIA,2013

    Source: BRIDGE TO INDIA project database

    B

    RIDGETOINDIA,20

    13

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    BRIDGE TO INDIA, 2013 10

    Tariffs have fallen by 63% in the last 3 years

    *Leveliz

    edtariffofferedinTamilNaduhasbeencalculat

    edconsidering5%escalati

    onfor10years.

    Discoun

    trateof15%has beenassume

    d

    TariffsofferedinTamilNadumightchange

    basedontheconsulta

    tionpaperrelease

    dbyTERC

    Averag

    etariff

    offeredundervariouspoliciesarenot weighte

    daverage

    s

    TariffsofferedinGujaratare

    levelize

    d

    *Leveliz

    edtariffofferedinTamilNaduhasbeencalculat

    edconsidering5%escalati

    onfor10years.

    Discoun

    trateof15%has beenassume

    d

    TariffsofferedinTamilNadumightchange

    basedontheconsulta

    tionpaperrelease

    dbyTERC

    Averag

    etariff

    offeredundervariouspoliciesarenot weighte

    daverage

    s

    TariffsofferedinGujaratare

    levelize

    d

    The lowest bid wasreported in

    Rajasthan andAndhra Pradesh forabout INR 6.5

    Gujarat is stilloffering the highestlevelized tariff inthe country

    Average tariff forprojects in the year2013 has been INR7.7

    Key takeaway

    B

    RIDGETOIN

    DIA,2013

    Source: BRIDGE TO INDIA project database

    * Levelized tariff has been calculated considering 5% escalation for 10 years.

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    BRIDGE TO INDIA, 2013 11

    Average project sizes in India have been increasing overtime

    The average projectsize has been

    increasing steadily More projects are

    being developed in the20-25 MW range aswell as some in the 50MW range

    Some PV projects of100 MW have alsobeen announcedrecently

    Key takeaway

    B

    RID

    GETOINDIA,2013

    Source: BRIDGE TO INDIA project database

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    BRIDGE TO INDIA, 2013 12

    2.3GW solar installations are expected in the commercial

    parity space in the next 4 years

    The RPO drivenmarket is expected to

    steadily increase The grid parity

    commercial marketwill also increase asparity is reached inmore states

    The telecom marketand the diesel paritymarket are bothdependent on theprice of diesel and theadoption of solar isexpected to increase

    considerably in thecoming years

    Key takeaway

    B

    RIDGETOINDIA,2013

    Source: BRIDGE TO INDIA market model

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    BRIDGE TO INDIA, 2013

    Contact

    www.bridgetoindia.comFollow us on facebook.com/bridgetoindia

    Jasmeet.khurana@bridgetoindia.com

    We are happy to supportyou in all further queries.

    Thank you for your attention