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The 1st Solar Today Awards 2016

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The very first Solar Today Awards 2016 was successfully held at the InterSolar Exhibition in Mumbai on October 21, 2016, in the presence of the industry’s best and brightest.

The Solar Today Awards 2016 function began with the lighting of the lamp by G Adhiseshu, Managing Director, Andhra Pradesh Solar Power Corporation Private Ltd; Pratap Padode, Managing Director, ASAPP Info Global Group and Sumit Banerjee, Chairman, Advisory Board, ASAPP Info Global Group.

This was followed up with an introductory address by Padode, wherein he spoke about the business climate in the country and how despite tough times – financially and otherwise – India Inc is now moving forward in the solar sector. He stated confidence in businesses geared towards sustainability, solar energy and energy storage, which can be the game changers that the country needs.

After the address, an expert panel comprising Prafulla Pathak, Secretary General, Solar Energy Society of India; Preetam D’Souza, Partner, Kochhar & Co; Shirish S Garud, Director and Senior Fellow, TERI and Santosh Janakiram, Partner, Cyril Amarchand Mangaldas and moderated by Vinay Rustagi, Managing Director, Bridge to India, discussed ‘Competitive bidding for solar projects in India’.

While coming to a general consensus that competition in the solar field has drastically brought down solar costs, thus making it more financially competitive, they further felt that viability of such projects is now under question and the structure essentially eliminates smaller players from venturing anywhere near the sector.

The main event on the itinerary for the evening – the awards ceremony – was conducted next. Parameters for the basis of selection for companies were considerations on their grid-connected projects above 1 MW, AC capacity numbers where available and capacity commissioned in the last 12 months.

For the first six awards – Utility Scale Solar (Project Developer and EPC Contractor); Rooftop Solar (Project Developer and EPC Contractor); Module Manufacturer and Inverter Manufacturer – winners were decided purely based on the size or capacity. The decision of the top three players has been adjudged on the basis of data collected by Bridge to India.

The latter four awards – Top Manufacturer in India – Quality and Cost Competitiveness; Best Innovation in the Sector; Best Start-up in the Sector and Emerging State – were selected by the Jury, based on discussions conducted and the nominations received. Here, for the Jury’s Choice Award for Manufacturer in India (Composite) – Quality and Competitiveness, the factors considered were strong reputation for quality, ability to compete internationally and whether the company is amongst the Top 10 players in the country, by virtue of size and volume.

The winners of the 1st inaugural Solar Today Awards 2016:

  • Utility Scale Solar- Project Developer – Adani Green Energy Ltd (Largest)
  • Utility Scale Solar- Project Developer – Acme (Second Largest)
  • Utility Scale Solar – EPC contractor: Mahindra Susten Pvt Ltd (Largest)
  • Utility Scale Solar – EPC contractor: Sterling and Wilson Pvt Ltd (Second Largest)
  • Utility Scale Solar – EPC contractor: L&T (Third Largest)
  • Rooftop Solar – Project Developer: CleanMax Solar (Largest)
  • Rooftop Solar – Project Developer: Amplus Energy Solutions Pvt Ltd (Second Largest)
  • Rooftop Solar – EPC: Tata Power Solar System Ltd (Largest)
  • Rooftop Solar – EPC: Su-Kam Power Systems Ltd (Second Largest)
  • Rooftop Solar – EPC: Hero Future Energies Ltd (Third Largest)
  • Top Manufacturer (Module): Vikram Solar Pvt Ltd
  • Top Manufacturer (Inverter): ABB India Ltd
  • Jury’s Choice Award for Best Manufacturer in India (Composite): Vikram Solar Pvt Ltd
  • Jury’s Choice Award for Best Innovation in the solar sector: Su-Kam Power Systems Ltd
  • Jury’s Choice Award for Best Start-up in the solar sector: OMC Power
  • Emerging State in the solar sector: Andhra Pradesh

The ceremony ended on a high note with a keynote address by Adhiseshu, who spoke on the importance of solar and how the Andhra Pradesh government is augmenting its plan to add 4,107 MW of solar power capacity during FY17 to FY22 and has set a target of achieving 2,000 MW of solar rooftop by 2022. He extorted the segment players present at the event to take advantage of this and move forwards confidently.

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Jefferies’ Optimism Fuels Cement Stock Rally

The industry is aiming price hikes of Rs 10-15 per bag in December.

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Cement stocks surged over 5% on Monday, driven by Jefferies’ positive outlook on demand recovery, supported by increased government capital expenditure and favourable price trends.

JK Cement led the rally with a 5.3% jump, while UltraTech Cement rose 3.82%, making it the top performer on the Nifty 50. Dalmia Bharat and Grasim Industries gained over 3% each, with Shree Cement and Ambuja Cement adding 2.77% and 1.32%, respectively.

“Cement stocks have been consolidating without significant upward movement for over a year,” noted Vikas Jain, head of research at Reliance Securities. “The Jefferies report with positive price feedback prompted a revaluation of these stocks today.”

According to Jefferies, cement prices were stable in November, with earlier declines bottoming out. The industry is now targeting price hikes of Rs 10-15 per bag in December.

The brokerage highlighted moderate demand growth in October and November, with recovery expected to strengthen in the fourth quarter, supported by a revival in government infrastructure spending.
Analysts are optimistic about a stronger recovery in the latter half of FY25, driven by anticipated increases in government investments in infrastructure projects.
(ET)

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Steel Ministry Proposes 25% Safeguard Duty on Steel Imports

The duty aims to counter the impact of rising low-cost steel imports.

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The Ministry of Steel has proposed a 25% safeguard duty on certain steel imports to address concerns raised by domestic producers. The proposal emerged during a meeting between Union Steel Minister H.D. Kumaraswamy and Commerce and Industry Minister Piyush Goyal in New Delhi, attended by senior officials and executives from leading steel companies like SAIL, Tata Steel, JSW Steel, and AMNS India.

Following the meeting, Goyal highlighted on X the importance of steel and metallurgical coke industries in India’s development, emphasising discussions on boosting production, improving quality, and enhancing global competitiveness. Kumaraswamy echoed the sentiment, pledging collaboration between ministries to create a business-friendly environment for domestic steelmakers.

The safeguard duty proposal aims to counter the impact of rising low-cost steel imports, particularly from free trade agreement (FTA) nations. Steel Secretary Sandeep Poundrik noted that 62% of steel imports currently enter at zero duty under FTAs, with imports rising to 5.51 million tonnes (MT) during April-September 2024-25, compared to 3.66 MT in the same period last year. Imports from China surged significantly, reaching 1.85 MT, up from 1.02 MT a year ago.

Industry experts, including think tank GTRI, have raised concerns about FTAs, highlighting cases where foreign producers partner with Indian firms to re-import steel at concessional rates. GTRI founder Ajay Srivastava also pointed to challenges like port delays and regulatory hurdles, which strain over 10,000 steel user units in India.

The government’s proposal reflects its commitment to supporting the domestic steel industry while addressing trade imbalances and promoting a self-reliant manufacturing sector.

(ET)

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India Imposes Anti-Dumping Duty on Solar Panel Aluminium Frames

Move boosts domestic aluminium industry, curbs low-cost imports

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The Indian government has introduced anti-dumping duties on anodized aluminium frames for solar panels and modules imported from China, a move hailed by the Aluminium Association of India (AAI) as a significant step toward fostering a self-reliant aluminium sector.

The duties, effective for five years, aim to counter the influx of low-cost imports that have hindered domestic manufacturing. According to the Ministry of Finance, Chinese dumping has limited India’s ability to develop local production capabilities.

Ahead of Budget 2025, the aluminium industry has urged the government to introduce stronger trade protections. Key demands include raising import duties on primary and downstream aluminium products from 7.5% to 10% and imposing a uniform 7.5% duty on aluminium scrap to curb the influx of low-quality imports.

India’s heavy reliance on aluminium imports, which now account for 54% of the country’s demand, has resulted in an annual foreign exchange outflow of Rupees 562.91 billion. Scrap imports, doubling over the last decade, have surged to 1,825 KT in FY25, primarily sourced from China, the Middle East, the US, and the UK.

The AAI noted that while advanced economies like the US and China impose strict tariffs and restrictions to protect their aluminium industries, India has become the largest importer of aluminium scrap globally. This trend undermines local producers, who are urging robust measures to enhance the domestic aluminium ecosystem.

With India’s aluminium demand projected to reach 10 million tonnes by 2030, industry leaders emphasize the need for stronger policies to support local production and drive investments in capacity expansion. The anti-dumping duties on solar panel components, they say, are a vital first step in building a sustainable and competitive aluminium sector.

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