“Draft National Wind-Solar Hybrid Policy has been prepared and being placed for comments/suggestions/views of the stakeholders. The same will be submitted by June 30, 2016” Ministry of New & Renewable Energy said.
The goal of the policy is to reach wind-solar hybrid capacity of 10 GW by 2022, it said, adding that the “policy aims to encourage new technologies, methods and way-outs involving combined operation of wind and solar PV plants.
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Solar and wind power being infirm in nature impose certain challenges on grid security and stability.
Studies have revealed that solar and winds are almost complementary to each other and hybdridation of two technologies would help in minimising the variability apart from optimally utilising the infrastructure, including land and transmission system.
Superimposition of wind and solar resource maps show that there are large areas where both wind and solar have high to moderate potential. The existing wind farms have scope of adding solar PV capacity and similarly there may be wind potential in the vicinity of existing solar PV plant.
Under the category of wind-solar hybrid power plants, wind and solar PV systems will be configured to operate at the same point of grid connection.
There can be different approaches towards integrating wind and solar depending upon the size of each of the source integrated and the technology type.
India has set an ambitious target of reaching 175 GW of installed capacity from renewable energy sources including 100 GW from solar and 60 GW from wind by 2022. Various policy initiatives have been taken to achieve this target. The country has already crossed a mark 26.8 GW of wind and 7.6 GW of solar power installed capacity during May 2016.
"We believe Tata Power will share further details on its capital structure in due course.
"Tata Power's operating performance in the fiscal year ended March 2016 was above our expectations. Cash flows were stronger due to stable earnings from the company's regulated distribution business and lower losses in the unregulated Mundra project," it said.
A sharp reduction in coal prices led to lower losses for the Mundra project, where the sale price for the PPA is fixed.
"The company's ratio of funds from operations to debt was stronger at about 12 per cent for the fiscal ended March 2016, against our expectation of about 9 per cent," it said.
The company will likely emerge as one of the larger renewable energy players in India but overall, renewable energy accounts for less than 30 per cent of the country's power generation.
"We believe Tata Power will need to manage its liquidity appropriately as the planned short-term bridge facility could accentuate the pressure from high short-term debt and continuing covenant breach at the Mundra project. However, Tata Power has satisfactory banking relationships and access to support from its promoters if required," it said.