India could benefit from China’s halt on solar
The world’s largest solar power market, China, has announced a halt on new solar energy projects.
India, which has set the target of reaching 100GW of solar capacity by 2022, could reap the benefits of this news, Quartz reported.
The country currently has a total solar capacity of 22GW.
With China to slow its solar industry, this could lead to the global cost of solar panels dropping.
India imports almost 90% of the solar panels it uses, the majority of which are from China.
“If they (China) are holding back, that means their manufacturing capacity would be available for the global market, which will have an impact on reducing cost, commented Cleantech Partner at PwC, Amit Kumar, Quartz noted.
“If the availability (of panels) is increased and costs come down, tariffs will come down and it is a positive sign.”
Last year, solar projects accounted for almost 40% of new energy generation capacity added in India.
The nation has also seen a drop in solar power tariffs, reaching record lows – solar has becomes cheaper than coal-based power.
The recent ReNew Power acquisition of Ostro is also anticipated to make the sector more efficient and increase the speed of operations.
Drax advances biomass strategy with Pinnacle acquisition
The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.
The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).
This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.
In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.
The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.