Life at HFEThe Blog
The Green Journey - 2016

Have you heard of ‘Here comes the sun‘ track from the famous 60s rock band, The Beatles? As its lyrics lusciously links the way our life is measured with the sun. Just like the sun graces the earth with its ever so bright light, making a way for the future – the ‘renewable’ way. India just crossed its 10 GW mark this year with an exceptional increase of 101% over 2015 in 2016. The government of India also upped its cumulative renewable energy (RE) target to 175 GW by 2022. It is not only India’s commitment but the world’s, together, to make the ultimate green change. So, its achievement is every one’s responsibility to make it happen.

Hero Future Energies in the recent years have been actively furthering the renewable cause. It is with great joy, we present to you these few token of appreciation that we have been able to accomplish in the recent few years, and even more so in 2016 for solar energy –

2014

  • Rahul Munjal has been awarded the ‘GLOBAL EXCELLENCE AWARD – 2014’ in Renewable Energy by Energy and Environment Foundation (EEF). He has also been awarded the ‘National awards for excellence’ as Renewable Energy Leader & Entrepreneur of the Year 2015 by World CSR Congress

2015

  • HFE won the ‘National awards for excellence’ in the Renewable Energy category for Conventional Rooftop Installation of the year 2015 & Best Wind Farm of the Year 2015 by World CSR Congress

2016

  • Roadmap for Innovation in Solar Energy (RISE 2016) from Mission Energy Foundation for most innovative rooftop solar project which is supported by Ministry of New Renewable Energy (MNRE), India for National Institute of Solar Energy and Powergrid Corporation by Hero Future Energies
  • HFE won the ‘National awards for excellence’ in the Renewable Energy category for one of the Best EPC player- rooftop solar & Best Wind Farm (for Devgarh) of the Year 2016 by ASAPP media
  • HFE won the Best Wind farm project in 2016 of the year by IWEF for our Dhar project

 

The O&M Landscape

  • Commissioned 100 MW wind farm at Badnawar within the project timelines
  • Conducted technical project feasibility study for HFE’s first Wind-Solar Hybrid Project in 2016
  • Attained cumulative (weighted) average WTG Availability of @97% for 164 WTGs amounting to 316.3 MW
  • Attained cumulative (weighted) average Plant Availability of @99 % 40 MW solar plant
    • Forecasting & Scheduling updates
      • Team @HFE has been conducting generation forecasting and scheduling for all the commissioned RE generation site in compliance with CERC guidelines as well respective state guidelines.
      • Maximum average accuracy achieved for solar sites are 94.62% and for wind it is 91.73% for FY16-17 in terms of energy. In terms of time blocks, the maximum average accuracy stands at 85.33% for wind and 82.30% for solar. These are good figures considering the industrial standards.
      • The company is in process of developing a Centralized Monitoring System for better monitoring of operational assets there by increasing the operational efficiency.

 

Within the Law 

  • The team incorporated an SPV in record time of 2 hours!
  • HFE being on its growth trajectory, in the year 2015-16 itself 10 SPVs were incorporated, now the final count of SPVs stands at 28!!
  • HFE has geared up to conduct business in international markets

 

 Economics of investments and financial growth at HFE

  • HFE & its wind holding entity has successfully raised second round of funding through certified climate bonds during 2016 for expansion of its wind and solar portfolio.
  • Early February we had raised India’s first certified climate bond for expansion of the company’s wind portfolio.
  • Secured funding of INR 300 crore during each transaction through issuance of rated and secured non-convertible debentures.
  • The Climate Bonds Initiative, which is an international, investor-focused not-for-profit organisation, issues this certification under robust framework for monitoring, reporting and assurance of conformance with the relevant Climate Bonds Initiative standards. The certificate for conformance with Climate Bonds standard has been issued following an independent third party assurance.

 

Accounting made easy

The In-house SAP project, AARUSH which means “first rays of sun” went live. SAP HANA S4 live is the latest version available. We have also implemented AP Fiori (mobile apps) and simple finance (reporting tool). Through this system our system controls has become one of its kind.

 

Renewable industry in the making 

  • Filed petition in Rajasthan Electricity Regulatory Commission (RERC) for load curtailment issues in Gunga and Dangri and brought it down considerably.
  • Filed petition before Punjab State Electricity Regulatory Commission to resolve the Open Access issue for HFE’s upcoming Solar power project in Punjab, which has been acknowledged.
  • Streamlined payments for our Ratlam & Rajasthan wind projects.
  • Team has been submitting comments/suggestions before MNRE, CERC, SERCs etc. on various draft policy notifications.

 

The shine of Rooftop Solar Gold

The year 2016 offered diverse opportunities to showcase our capabilities in delivering best in class project engineering to install rooftop solar projects this year.  Ranging from educational institutes (Benaras Hindu University – 200 KW, 4 Technical colleges under DU – 1 MW), public facilities (Kochi Metro Rail Limited – 4000 kW, Jaipur Metro Rail Corporation – 986 kW, JNPT, Mumbai – 411 KW), religious institutions (Dera Sacha Sauda- 300 KW) and others apart from our regular industrial & commercial projects. HFE’s in-house team has designed, installed, commissioned the systems, and will be maintaining them for 25 years.

The marquee projects won & commissioned in 2016 goes like this:

Benaras Hindu University – 200 kW

  • Kochi Metro Rail Limited – 4 MW
  • Jaipur Metro Rail Corporation – 986 kW
  • JNPT, Mumbai – 411 KW
  • Dera Sacha Sauda- 300 KW
  • National Textiles Corporation – 780 kW
  • Hero Moto Corp Halol – 1903 kW
  • 2440 kW project under CREST, Chandigarh
  • Subsidy allocation of 15.3 MW under SECI tender of 500 MW
  • Subsidy allocation of 2.5 MW under IPGCL tender of 5 MW

 

We believe and hope that we are heading into a brighter future! Let’s make 2017 a greater and greener world for all of us.

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