SMA SOLAR TECHNOLOGY AG CONCLUDES SALE OF SMA RAILWAY TECHNOLOGY GMBHSMA Solar Technology AG (SMA/FWB: S92) concluded sale of its subsidiary SMA Railway Technology GmbH today. The buyer is the leading Chinese railway technology group Beijing Dinghan Technology Co., Ltd. The buyer and the seller have agreed not to disclose the purchase price. The transaction will contribute positively to the SMA Group’s earnings in the first quarter of 2017. Against this backdrop, the SMA Managing Board forecasts sales of €165 million to €175 million and earnings before interest, taxes, depreciation and amortization (EBITDA) of €15 million to €18 million for the first quarter of this year. The SMA Managing Board is confirming its sales and earnings guidance for fiscal year 2017 as published on January 26, 2017, which forecasts sales of between €830 million and €900 million and EBITDA of between €70 million and €90 million.
Solar Energy Corporation of India (SECI) will float tenders for setting up wind projects with cumulative capacity of 1,000 mw to supply power to non-windy states. “SECI will float tenders for total wind power capacity of 1,000 mw. This will be tariff based competitive bidding and will be awarded to bidders quoting lowest price (power tariff) bid,” a senior official said. The official said: “At present the rate of wind power ranges between Rs 3.9 per unit (lowest in Tamil Nadu) and Rs 5.5 per unit in other states.
This bidding may result in drop in prices of wind power as happened in case of solar power.” The New and Renewable Energy Ministry has planned to set up grid-connected 1,000 mw wind energy projects, which will supply power at price discovered through competitive bidding. According to the scheme approved by the ministry for setting up this 1000 mw wind power capacity, the project capacity will be determined by SECI for each tender, but will not be less than 25 mw for a single project developer at one site. The scheme for setting up of 1000 mw wind power projects connected to transmission network of Central transmission Utility (CTU), through SECI will be implemented to supply power to discoms of non-windy state, the ministry had said earlier in June. SECI is the nodal agency for implementation of this scheme.
It is working on e-bidding process followed by e-reverse auction for eligible bidders. The body will also develop a suitable mechanism for monitoring the performance of the projects. The scheme provides that no separate funding shall be provided by the ministry to SECI for implementing this scheme for setting up 1000 mw wind power capacity. The objectives of the scheme is to facilitate supply of wind power to the non-windy states at a price discovered through transparent bidding process. Besides it will encourage competitiveness through scaling up of project sizes and introduction of efficient and transparent e-bidding and e-auctioning processes. It will also facilitate fulfillment of Non Solar Renewable Purchase Obligation (RPO) requirement of non-windy states.
The wind power deployment in the country started in early 90s. The present wind power installed capacity in the country is nearly 26.7 GW sharing around 9 percent of total installed capacity. Globally India is at 4th position in terms of wind power installed capacity after China, USA and Germany. Centre has set an ambitious target of target of achieving 175 GW power capacity from renewable energy resources by 2022 and out of this 60 GW to come from wind power.