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商品編號: SMU937 出版日期: 2021/04/18 作者姓名: Phang, Sock-Yong;Bhattacharya, Lipika;Joseph, Flocy 商品類別: Other 商品規格: 19p 再版日期: 地域: India 產業: Energy & Natural Resources 個案年度: -
商品敘述:
Set in July 2020, this case talks about a solar park public-private partnership (PPP) project in Madhya Pradesh, India. Manu Srivastava, Chairperson of Rewa Ultra-Mega Solar Limited (RUMSL), and his team had decided to go ahead with the project without the support of viability gap funding (VGF). However, the project faced a setback when the central government lowered the solar VGF tariff by 10%, forcing RUMSL to look for innovative ways of attracting lower bids. After consultations with solar developers and potential financiers, Srivastava and his team introduced many de-risking measures like payment security mechanisms, land availability guarantee, project termination and grid unavailability compensation and tax-change risk coverage clauses in the power purchase agreement. The team also implemented innovative features like an optimum scheduling mechanism (to attract a high credit off-taker) and a data room with updates on land and internal evacuation infrastructure availability before the start of the bidding process. The overall strategy was to avoid the ''Goldilocks syndrome'' and create a perfect balance between risks being transferred and known risks being accommodated. An e-reverse auction was used for the bidding process. The final tariff achieved was 40% less than the VGF tariff. RUMSL''s nuts and bolts approach of process innovation motivated the central government to shift its focus from VGF to scalable market-based financing models. A "Standard Bidding Guidelines" for solar projects was introduced by the government, incorporating many features of the Rewa project.
涵蓋領域:
Environmental sustainability;Implementing strategy;Infrastructure;Negotiation;Public-private partnerships;Risk management
相關資料:
Case Teaching Note, (SMU938), 14p, by Sock-Yong Phang, Lipika Bhattacharya
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