Académique Documents
Professionnel Documents
Culture Documents
Page 2
Introduction
Twin Hickory Power Private Limited is a newly registered Private Limited
company which has been incorporated with the main object to engage
itself in generation of Non Renewable Energy. The Registered Office of
the Company is situated at Ellutla, Gurramkonda (Mandal), Chittoor
(District), Andhra Pradesh. The Company is set up by a group of people
who are already into various businesses.
Due to the present power crisis in the state of Andhra Pradesh, the
Promoters of the Company has decided to start a business of generating
Non Conventional Energy to meet the power requirements of other
industries in the state along with getting in the incentives offered by the
State and Central Governments. As a part of it the Management has
decided to set up a 5 MW DC Solar Power Plant at Puleru, Gorantla
(Mandal), Ananthapur(District) of Andhra Pradesh. The management
wants to supply power to any industry on long term basis under Open
Access. They have got the feasibility study done at the said location and
identified that there is a good scope of solar power generation.
Page 1
Executive Summary
Company
Director
Director
PPA Holder
Technology Partner
: AU Optronics, Taiwan
Twin Hickory Power will be Independent Power producer who is the PPA
holder of the project on a Build, Own, and Operate basis for the period of
25 years.
Twin Hickory Power Private Limited is an Indian based company with the
Directors having the major shareholding of M/s Sri Bhavani Stone
Crusher and M/s Sri Bhadradri Sponge Iron Pvt. Ltd. Both the companies
are Indian based and operating entities. Networth of both the companies
is estimated to be around USD5Million.
The details of the Business arrangement are following:
All the funds will be utilized for the purpose of EPC and other project cost
of 5MW DC project to be located in the state of Andhra Pradesh, India for
which a PPA has been obtained from M/s Aurobindo Pharma (an Indian
Page 2
with 40%
Page 3
For the safety of financing, Twin Hickory will pledge project revenue and
asset to the lending company / bank until the loan is cleared. A mutually
agreed process can be agreed upon and established through an
agreement. Also Twin Hickory will provide Bank Guarantee or Stand by
Letter of Credit to support part of the loan amount which can be used as
rotational guarantee for the barrowed funds.
Return of funds
This financing principal and interest will be paid back within a10 year
period or earlier. Estimated energy projections do not reflect an increase
in power revenue which is really expected in the future. Estimated
numbers to show a conservative/worst case scenario picture for all parties
involved. Therefore, the lending company will be assured of on-time
payment of agreed installments. Should the project be sold to another
party at any time, the financing company will receive 100% of lending
money with interest.
Solar Project location: Andhra Pradesh, India
Total Size: 5MW DC with 1st year Generation 8.626MWh PV, fixed
angle, ground mount.
Estimated EPC Cost: US$8,000,000.00
Page 4
Solar REC
realization
SREC Years 1 to
3
SREC Years 4 to
10
SREC Years 11
to 15
SREC Years 16
to 20
SREC Years 21
to 25
INR/KWh
US$/KWh
11.00
$
0.204
8.00
$
0.148
6.00
$
0.111
4.00
$
0.074
2.00
$
0.037
Page 5
Page 6
consideration In the last 3 years, concerns over climate change and energy
security have led to more wide spread use of Solar PV. Due to its modular
nature Solar PV can be a de-centralized solution for urban/rural households
and other buildings. It has the potential to bring about a paradigm shift in
power
distribution
as
was
brought
about
by cell
phones
in
the
telecommunication sector.
Page 7
is one of their primary impediments to doing business. In addition, coal shortages are further
straining power generation capabilities.
India has a vast potential for renewable energy sources, especially in areas such as solar
power, biomass and wind power with the current installed capacity of renewable energy
constituting about 7.3% only of the total installed generation capacity. India is already the
fourth largest in the world in terms of wind energy installations and we are seeing significant
investment activity in this area. Technological breakthroughs for cost-effective photovoltaic
technology could generate a quantum leap in the renewable energy sector since India is
well endowed with solar irradiance (average of 6 kWh/ sq.mt./Day).
India has 965 MW of grid-connected solar generation capacity. As per National Solar
Mission, the first phase covers setting up of 1,100 MW of grid solar power and 200 MW
capacity of off-grid solar applications utilizing both solar thermal and photovoltaic
technologies, by 2013. In second phase by 2017 the installed base would reach 4000 MW,
and in third phase 20,000 MW by 2022. India has an enormous potential of renewable
energy across the various sources.
Regulatory Policy and Framework
Some of the key legislative, policy and other measures initiated by the various stakeholders
for promoting Renewable Energy Systems (RES) and in particular Solar Energy are:
1. The Electricity Act provides all the State Commissions to fix a minimum %age for
purchase of energy from renewable energy sources.
2. The policy recognizes that renewable energy sources should be offered preferential
tariffs till they can evolve and compete with other conventional sources.
3. Generation and distribution in notified rural areas have been de-licensed.
4. Fiscal benefits and financial support has been extended to interested investors.
5. A number of fiscal benefits in form of duty exemptions, income-tax holidays,
accelerated depreciation norms, etc have been extended.
Company Proprietary & Confidential
Page 8
A Solar PV Project Developer can set up a solar power project in India in one of the
following 3 ways:
National Solar Mission
Solar Policy of the Central Government aimed at setting up 20,000 MW
of Solar Power Plants by 2022
State Policies
Individual states like Andhra Pradesh, Gujarat, Rajasthan,
Karnataka and
Madhya Pradesh have released their own policies to set up
Solar PV Power Plants in the respective states
Renewable Energy Certificates
Any Project Developer can set up any size of project
anywhere in India. Unlike preferential tariff under NSM
and State Policies, REC's offer a variable tariff over the
lifetime of project.
Renewable Energy Certificate Policy
The CERC has issued the Central Electricity Regulatory Commission (Terms and
conditions for recognition and issuance of Renewable Energy Certificate for Renewable
Energy Generation) Regulations, 2010 on 14th January, 2010 referred to as REC
Regulations). Clause (3) of Regulation 3 of the REC Regulations provides as under:
In exercise of the power under section 66 and 178 of the Act, the Commission has
Company Proprietary & Confidential
Page 9
notified the Central Electricity Regulatory Commission (Terms and Conditions for
recognition and issuance of Renewable Energy Certificate for Renewable Energy
Generation) Regulations, 2010 (hereafter REC Regulations).
As per the first proviso to clause (1) of Regulation 9 of the REC Regulations, the
Commission in consultation with the Central Agency and Forum of Regulators shall
provide for the Forbearance and Floor Price separately for solar and Non-solar
Renewable Energy Certificates.
Floor and Forbearance Price of REC
Non-Solar (Rs/MWh)
Solar (Rs/MWh)
Forbearance Price
3300
13400
Floor Price
1500
9300
Pricing of REC
The price of Certificate shall be as discovered in the Power Exchange Provided that the
Commission may, in consultation with the Central Agency and Forum of Regulators from
time to time provide for the floor price and forbearance price separately for solar and nonsolar projects.
Page 10
About REC
Participation
Voluntary
REC Denomination
1 MWh
Validity
Categories
2. Non-Solar REC
Trading Platform
Banking
Not Allowed
Borrowing
Not Allowed
Single
Transfer Type
certificate is not possible
Penalty
compliance
Price Guarantee
Price
Discovery
Closed Double-sided Auction*
Mechanism
Trading Calendar
Trading Period
Market Clearing
Financial Settlement
day)
Page
Page 11
Promoting generation of green and clean power in the state using Solar Energy
To put in place an appropriate investment climate, that could leverage the Clean
Development Mechanism (CDM)
Productive use
transformation
of
the
wastelands,
thereby
engendering
socio-economic
Page
Page 12
Technology
Photovoltaic is a merger of two words: photo, from Greek roots, meaning light, and
voltaic, from volt, which is the unit used to measure electric potential at a given point.
Photovoltaic systems use cells to convert solar radiation into electricity. The cell consists of
one or two layers of a semi-conducting material. When light shines on the cell it creates an
electric field across the layers, causing electricity to flow. The greater the intensity of the
light, the greater the flow of electricity is.
The most common semiconductor material used in photovoltaic cells is silicon, an element
most commonly found in sand. There is no limitation to its availability as a raw material;
silicon is the second most abundant material in the earths mass.
A photovoltaic system therefore does not need bright sunlight in order to operate. It can also
generate electricity on cloudy days. Due to the reflection of sunlight, slightly cloudy days can
even result in higher energy yields than days with a completely cloudless sky.
Advantages of solar photovoltaic electricity
The sun is the only resource needed for solar photovoltaic systems. Also, photovoltaic cells
are made from silicon, and silicon is an abundant and nontoxic element (the second most
abundant material in the earths mass).
Page 13
Burning of natural resources for energy can create smoke, cause acid rain, pollute water
and pollute the air. Carbon dioxide CO2, a leading greenhouse gas, is also produced. Solar
Power
uses only the power of the sun as its fuel. It creates no harmful byproduct and contributes
actively to reduce the global warming.
Materials used in the production process (silicon, glass, aluminum, etc.) can be reused.
Recycling is not only beneficial for the environment but also for helping to reduce the energy
needed to produce those materials and therefore the cost of fabrication.
Unlike thermal systems, solar modules do not have any rotating parts in the modules. Solar
modules are almost maintenance-free and offer an easy installation.
Company Proprietary & Confidential
Page 14
Solar systems give an added value to rural areas (especially in developing countries where
electricity is not available). House lighting, hospital refrigeration systems and water pumping
are some of the many applications for off-grid systems. Telecommunication systems in
remote areas are also well-known users of PV systems.
This means that the time required for a PV module to produce as much energy as it needs
to be manufactured is very short, it varies between 1.5 years to 3 years. A module therefore
produces 6 to 18 times more energy than is needed to manufacture it.
The PV sector, with an average annual growth of 40% during the past few years is
increasingly contributing to the creation of thousands of jobs worldwide.
PV cells and modules
PV cells are generally made either from crystalline silicon, sliced from ingots or castings,
from grown ribbons or thin film, deposited in thin layers on a low-cost backing. The
performance of a solar cell is measured in terms of its efficiency at turning sunlight into
electricity.
A typical commercial solar cell has an efficiency of 15% - about one-sixth of the sunlight
striking the cell generates electricity. Improving solar cell efficiencies while holding down the
cost per cell is an important goal of the PV industry.
In practice
The most important parts of a PV system are the cells which form the basic building blocks
of the unit, collecting the suns light, the modules which bring together large numbers of cell
Page 15
into a unit and in some situations the inverters used to convert the electricity generated into a
form suitable for everyday use.
Thin Film technology
Thin film modules are constructed by depositing extremely thin layers of photosensitive
materials onto a low-cost backing such as glass, stainless steel or plastic. Thin film
manufacturing processes result in lower production costs compared to the more materialintensive crystalline technology, a price advantage which is currently counterbalanced by
substantially lower efficiency rates (from 5% to 13%).
Four types of thin film modules (depending on the active material used) are commercially
available at the moment:
1. Amorphous silicon (a-Si)
2. Cadmium telluride (CdTe)
3. Copper Indium/gallium Diselenide/disulphide (CIS, CIGS)
4. Multi junction cells (a-Si/m-Si)
Crystalline Technology
By far, the most prevalent bulk material for solar cells is crystalline silicon (abbreviated as a
group as c-Si), also known as "solar grade silicon". Bulk silicon is separated into multiple
categories according to crystalline and crystal size in the resulting ingot, ribbon, or wafer.
Four types of crystalline modules (depending on the active material used) are commercially
available at the moment:
1. Monocrystalline Silicon(c-Si)
2. Polycrystalline Silicon(poly-Si)
3. Ribbon Silicon
4. Mono like Multi Silicon
Company Proprietary & Confidential
Page 16
Land Co-Ordinates
Longitude
77 77 min 94 sec - E
Rainfall
200 -300mm
0
Ambient temperature in C
Summer/ winter
Relative Humidity
Location Details
Site
Puleru
District
Ananthapur
State
Andhra Pradesh
Country
India
Page 17
Andhra Pradesh
India receives solar radiation of 4.6 to 6.4 kWh/m for 300 to 330 days in a year: Most part of
the Andhra Pradesh receive solar radiation daily in the range of 5.6 to 6.0 kWh/m 2.
The power generation potential for India using solar PV technology is estimated to be about
20 MW/km and that using solar thermal generation about 35 MW/km. Further, this estimated
potential is at current levels of technology efficiency. Solar energy systems do not require any
fuel and, therefore, the running costs are lower. The other advantage of solar energy systems
is that the systems are modular, long-lasting, and reliable and require less maintenance.
The proposed site receives solar radiation of 5.5 kWh/m2.
Page 18
Site Layout
Page 19
Page 20
A
TECHNICAL PROPOSAL
FOR
AUO
Revision: 1
Submitted By
INTRODUCTION
(a) Project Site
: 14.1 N, 77.8 E
: 33 kV
Page 22
Design
Engineering
Installation
Commissioning
Acceptance test
SCOPE OF OWNER
Approvals for Execution
Power purchase agreement with the relevant distribution licensee in the state.
Any approvals / conversion order from any local / statutory authorities with respect to Site and use
of the same for the construction & installation of solar power plant as envisaged in the Contract.
Registrations under Service tax, VAT law and Central Excise and Customs Acts.
Declaration of Project Site for the purposes of IHS code required for material procurement (both
imported and indigenous)
Submission of any bond/ undertaking / declaration to customs / central excise / any other tax
authorities / MNRE etc. required in connection with the procurement of material (both imported and
indigenous)
Page 23
S.No.
Activity
UoM
Qty
Location
--
--
Brief Scope
Remarks
Coordinates
--
--
14.1 N, 77.8 E
DC Capacity
MWp
--
5.532
AC Capacity (Inverter
capacity)
MW
--
4.76
Page 24
S.No.
Activity
UoM
Qty
Brief Scope
Remarks
Type of System
--
--
--
Power Evacuation
kV
--
33 kV
Battery Limits
--
--
WEATHER PARAMETERS
Global Horizontal
Irradiance
kWh/
m2
2034.9
Based on Meteonorm 6
data
Global Irradiance on
Inclined Plane of Array
kWh/
m2
2100.3
At a fixed tilt of 12
C1
PR
75.2 %
--
Gross Generation
MillionKWh/annum
8.733
--
1.578
--
18.01 %
--
Specific Generation
Million-KWh/
MWp/annum
(for first year of
operation)
CUF
Note:
Page 25
S.No.
Activity
UoM
DC COMPONENTS
Monitoring feature
Brief Scope
Remarks
plant premises after the design of the project has not been considered
All auxiliary power consumption including night time losses (no load losses of
all equipment) and power consumption for operation of RO plant (if provided)
are not included. ( Refer to Annexure 3 )
3.
Qty
Lot
Weidmuller, Germany/
Cooper BussMann
--
--
DC Cables- Module to
Combiner Box
Lot
Prysmian/ Lapp/UL
(Imported from Germany)
DC Cables*-Combiner
Box to inverters
Lot
*Note: Cable route markers shall be used. Cables shall be buried directly in the ground with suitable protection of
sand bed/bricks.
5
DC Sizing
AC SIDE EQUIPMENT
--
--
1. No of Modules in series: 24
2. Power in each string: 6.12kW
3. Total No of strings: 904
( Refer to Annexure 4 )
1
Lot
KEI/Ravin/ Uniflex
3 Winding
Transformer
No.
VoltAMP/ RPG
Raychem/Tesla/Schneider
Page 26
S.No.
Activity
UoM
Qty
Brief Scope
Remarks
2 Winding
Transformer
No.
VoltAMP/ RPG
Raychem/Tesla/Schneider
Aux Transformer
No.
VoltAMP/ RPG
Raychem/Tesla
HT Power Cable-
Lot
33 kV (Earth), 1C:300sqmm,
Aluminium conductor, XLPE
insulated, armoured, PVC outer
sheath cables
Set
Yamuna/ Raychem/ 3M
No.
Popular/Kiron/ Vidyut
1. 1.4/0.7 MVA
Transformer to
Local isolation
2. Transformer
Local isolation to
HT panel
3. HT Panel to DP
Structure
Cable Accessories for
HT cables
Page 27
S.No.
8
Activity
HT Panel
UoM
No.
Qty
1
Brief Scope
33 kV, 630 A, 26.3 kA for 1 sec, IP
20, metal clad switchboard with
following configuration:
4 incomers from 4 transformers +
1 outgoing to grid + 1 outgoing for
Auxiliary Transformer + 1 line PT
with over current and earth fault
protection
Remarks
Siemens (Channel PartnersSymatic/Expel), ABB
(Channel Partners - Popular
Switchgear), Schneider
(Channel Partners Adlec
/Prestine)
LT Switchgear
Lot
10
UPS
LS
Delta
11
Control Cable
LS
12
Lighting
LS
Page 28
S.No.
Activity
UoM
Qty
Brief Scope
Remarks
Set
Set
SCADA Earthing
Set
EVACUATION ARRANGEMENT
Isolator near DP
structure
Set
DP Structure
Set
Tariff Metering
(Standby) as per CEA
norms
No.
Weather Station
Set
--
--
Page 29
S.No.
Activity
UoM
Qty
Brief Scope
Remarks
CIVIL
Foundations
No.
3209
(appro
x.)
Module Mounting
Structure
LS
Page 30
S.No.
Activity
UoM
Qty
Brief Scope
Remarks
condition)
3) Rafter, purlins, rails shall be of pre-galvanized cold form
sections with thickness of 550 GSM (including both
surfaces) and as per ASTM A653 std.
4) All Nuts, bolts, washers for module mounting shall be of
SS304
5) All Nuts, bolts, washers for rest of structure shall be of
MS with electro galvanised
6) Yield Strength for all sections shall be 340 Mpa
3
Inverter, Main HT
Panel , SCADA/Admin
room
No.
For Inverters, HT Panel, SCADA/Admin, battery purpose - 1 preengineered room shall be constructed.
Inverter Room
No.
Site Grading
--
--
--
--
Job
Boundary Wall/Chain
Link Fence
Job
Chain Link Fence with barbed GI wire with a total height of 2.5
m, spacing of 3 m between adjacent posts
Security cabins
No.
Pre-fabricated cabins
10
Bore Well
No.
Page 31
S.No.
Activity
UoM
Qty
Brief Scope
Remarks
Approach Road /
Job
--
--
Internal pathway
12
Construction Power
and construction
water
Page 32
Annexure 1
Page 33
Annexure 1
Page 34
age 20
Company Proprietary & Confidential
Page 35
Annexure 2
Page 36
Annexure 3
Page 37
Annexure 3
Page 38
Annexure 3
Company Proprietary & Confidential
Page 39
Annexure 3
Company Proprietary & Confidential
Page 40
Annexure 4
Page 41
Financials
Page 42
Summary:
Twin Hickory Power is a renowned and experienced Energy company with an ability to
execute successfully with its partners AU Optronics and local EPC Mahindra EPC.
Proposed project has the PPA from a highly rated Indian company which is catering its
generated power to its own consumption for industrial purpose.
Twin Hickory also takes fully advantage of REC credit scheme to maximize revenues.
Twin Hickory Power is confident and capable of executing the proposed project with its
strong technical and project management skills in a timely manner with a high degree of
quality to sustain consistent revenues from the estimated energy generation.
Page 43