Uttang Dutt

🌞 GST 2.0 for Solar EPC – The BOS Cashflow Challenge The 56th GST Council decision in Sept 2025 reduced GST on renewable energy devices & parts to 5% . On paper, this looks like a big win for solar. But when we break down an EPC project costing ₹26,500/kW (₹2.65 Cr per MW), an important anomaly appears. ⸻ ⚖️ Project Split (1 MW) • 70% Modules + Inverters → Purchased @5%, Sold @5% ✅ • 15% Services → Purchased @18%, Sold @18% ✅ • 15% BOS (cables, transformers, SPDs, structures) → Purchased @18%, Sold @5% ❌ ⸻ 📊 GST Calculations • Total Input GST (paid to suppliers): ₹23.59 lakh • Total Output GST (collected from consumer): ₹18.42 lakh • Cashflow Shortage (IDS gap on BOS): ₹5.17 lakh per MW 🚨 ⸻ 🔍 Why This Matters • This is a textbook case of Inverted Duty Structure (IDS) under Section 54(3) of the CGST Act, 2017. • EPCs end up paying higher GST on BOS inputs (18%) but charging only 5% to consumers, blocking working capital until refunds are processed. • At scale, this adds up fast → ₹25.8 lakh for 5 MW, ₹51.7 lakh for 10 MW stuck in ITC. ⸻ ✅ The Way Forward • Either clarify HSN codes so BOS items (cables, transformers, switches) also fall under 5%, • Or revise the composite supply formula (earlier 70:30) to align with today’s 70:15:15 cost reality. ⸻ 📌 Final Thought: GST rationalisation should ease EPC execution, not tighten cashflows. The Council’s intent is positive, but without CBIC’s notification on BOS, solar EPCs risk another round of refund battles. India’s renewable journey needs clarity, speed, and alignment ⚡. ⸻ ✨ References: • Section 54(3), CGST Act 2017 • Notification 24/2018-CTR & Circular 79/2018 (solar composite supply) • PIB Press Note, 56th GST Council Meeting (Sept 2025) Bhavita Shukla , Renewable Energy Association of Rajasthan , Akashsingh Rajput , Samir Patel - BE Mech. MBA, CE , Nisarg Bhavsar , V. Dave , Shraddha Jani, Gujarat Chamber of Commerce and Industry , The Institute of Chartered Accountants of India , CII - Indian Green Building Council (IGBC) , Confederation of Indian Industry , TiE Ahmedabad , Himanshu Shah , FICCI , Mercom India , ET EnergyWorld , The Economic Times , Ministry of New and Renewable Energy (MNRE) , Aalok Chokshi , Mayuri Singh , Vibhuti Garg

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𝗜𝗻𝗱𝗶𝗮 𝗖𝗿𝗼𝘀𝘀𝗲𝘀 𝟭𝟬𝟬 𝗚𝗪 𝗦𝗼𝗹𝗮𝗿 𝗠𝗼𝗱𝘂𝗹𝗲 𝗠𝗮𝗻𝘂𝗳𝗮𝗰𝘁𝘂𝗿𝗶𝗻𝗴 𝗖𝗮𝗽𝗮𝗰𝗶𝘁𝘆! A milestone moment for the Indian Renewable Energy sector — our country has now officially 𝗰𝗿𝗼𝘀𝘀𝗲𝗱 𝟭𝟬𝟬 𝗚𝗪 𝗼𝗳 𝘀𝗼𝗹𝗮𝗿 𝗺𝗼𝗱𝘂𝗹𝗲 𝗺𝗮𝗻𝘂𝗳𝗮𝗰𝘁𝘂𝗿𝗶𝗻𝗴 𝗰𝗮𝗽𝗮𝗰𝗶𝘁𝘆. From being an import-dependent market just a few years back, to now becoming a global hub for solar manufacturing, India’s progress is truly inspiring. ✅ 𝗔𝗟𝗠𝗠 𝗟𝗶𝘀𝘁-𝗜 (𝗠𝗼𝗱𝘂𝗹𝗲𝘀): 𝟵𝟭 𝗚𝗪 ✅ Additional Expansions Underway: Taking us past 𝟭𝟬𝟬 𝗚𝗪 𝗺𝗮𝗿𝗸 ✅ Policy Push & Industry Response: PLI scheme, safeguard measures, and the collective efforts of Indian manufacturers have brought this transformation. But capacity alone is not enough — ⚡ We need 𝗺𝗮𝘁𝗰𝗵𝗶𝗻𝗴 𝘀𝗼𝗹𝗮𝗿 𝗰𝗲𝗹𝗹 𝗰𝗮𝗽𝗮𝗰𝗶𝘁𝘆 to reduce dependency. ⚡ Focus on 𝗾𝘂𝗮𝗹𝗶𝘁𝘆, 𝘀𝗰𝗮𝗹𝗲, 𝗮𝗻𝗱 𝗲𝘅𝗽𝗼𝗿𝘁 competitiveness is essential. ⚡ A balanced ecosystem across 𝗺𝗼𝗱𝘂𝗹𝗲𝘀, 𝗰𝗲𝗹𝗹𝘀, 𝘄𝗮𝗳𝗲𝗿𝘀, 𝗮𝗻𝗱 𝗽𝗼𝗹𝘆𝘀𝗶𝗹𝗶𝗰𝗼𝗻 will define India’s true solar independence. This achievement not only supports India’s 500 GW renewable energy target by 2030, but also places us strongly on the global map as a reliable, large-scale solar manufacturing powerhouse. 🔆 The sun is rising for Indian solar manufacturing. Now, it’s time to shine brighter than ever! #SolarEnergy #MakeInIndia #RenewableEnergy #SolarManufacturing #EnergyTransition

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🌍 India’s Battery Energy Storage (BESS) Revolution ⚡ 🔹 As of Sept 2025, India has made remarkable strides in large-scale energy storage deployment — paving the way for a more reliable and renewable grid. 📊 Snapshot of India’s BESS Landscape: ✅ Commissioned Projects: ~505 MWh 🏗️ Under Construction: ~16.2 GWh 🧾 Under Tendering: ~56.5 GWh 💡 These projects span across key nodal agencies like SECI, NTPC, NHPC, SJVN, KREDL, GSECL, and GUVNL, reflecting India’s growing commitment to flexible and resilient energy infrastructure. 📍From small-scale pilots to gigawatt-level hybrid tenders — India’s energy storage roadmap is rapidly scaling to meet 24×7 renewable power goals. 🚀 Storage is no longer optional — it’s the backbone of India’s clean energy future. #BESS #EnergyStorage #RenewableEnergy #IndiaEnergy #Solar #HybridProjects #BatteryStorage #CleanEnergy #GridStability #EnergyTransition #MakeInIndia Sampath Kumar |Ajit Bahadur - Solar is my Passion | Amit Suman Thussu - Solar Sales and Marketing | India Energy Storage Alliance (IESA) | Debmalya Sen | Dr. Simon Engelke

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Grateful to have shared space with some of the finest Carbon Market veterans at the enriching workshop organized by FICCI. Discussions like these reaffirm how the next frontier for urban power distribution utilities is not just reliable supply but becoming enablers, aggregators, and innovators in India’s carbon market ecosystem. Traditionally seen as mere service providers, currently #DISCOMs like BSES Delhi are uniquely positioned to: ⚡ Unlock offsets through #griddigitization, #EVcharging, and demand-side management ⚡ Aggregate micro-credits from rooftop #solar, #prosumers, and community-level projects ⚡ Create new consumer models (imagine offset purchases embedded in our monthly electricity bill) ⚡ Build transparency and trust via #AI/ #IoT-enabled monitoring for credible carbon credits With India’s Carbon Market framework gaining momentum, t̳h̳e̳ ̳b̳i̳g̳ ̳q̳u̳e̳s̳t̳i̳o̳n̳ ̳i̳s̳ ?̳ ➡ Should urban DISCOMs be treated as obligated entities or as facilitators linking millions of end-consumers to global carbon markets? 𝑶𝒑𝒑𝒐𝒓𝒕𝒖𝒏𝒊𝒕𝒊𝒆𝒔 𝒂𝒉𝒆𝒂𝒅 𝒂𝒓𝒆 𝒆𝒏𝒐𝒓𝒎𝒐𝒖𝒔: 1) AT&C loss reduction monetization 2) EV integration 3) BESS 4) Investments in #bluecarbon & nature-based solutions. If all the above is done right, #powerdistribution #utilities can evolve into last-mile carbon service intermediaries, driving inclusive participation while safeguarding #equity for vulnerable consumers. The path forward will require collaboration, credibility, and courage. But one thing is clear: the future #carboneconomy cannot bypass India’s DISCOMs, it must flow through them... #CarbonMarkets #EnergyTransition #NetZero #BSES #FICCI #ClimateAction #SustainabilityLeadership Reliance Infrastructure Life at BSES #ESG Afshan Chhina FCCA Aditya Rustagi Paravastu Rambabu Anuradha Singh GC Advisory Nithyanandam Yuvaraj Dinesh Babu Saurabh Diddi Devesh Pimpale

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Spoke at the launch of the Global Clean Energy Talent Initiative (G-CETI), representing ReNew Foundation alongside Joanna Messing, Vikas Mehta, and Roshan Paul.   ReNew Foundation is proud to join G-CETI as an allied funder, committing USD 3 million to skill nearly 10,000 people over three years. Through Project ReNew Surya, we’ve trained women from salt farming communities in western India as solar technicians - boosting incomes nearly tenfold and creating pathways to economic independence.   We see the energy transition not just in megawatts, but in lives changed. Our programs focus on skilling, livelihood diversification, and economic empowerment - especially for women - so they become active participants, not bystanders. Through initiatives like school electrification and climate literacy, we’re preparing the next generation to understand climate risks and seize opportunities in a clean economy. Growald Climate Fund Sustainability, Equity and Diversity Fund (SED) Ministry of New and Renewable Energy (MNRE) Ministry of Women & Child Development UN Women #ReNewTheFuture #ReNewFoundation #ClimateWeekNewYork #CleanEnergy #GreenJobs

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5 MMTPA. Endless opportunities. The magic of #NGHM India’s National Green Hydrogen Mission aims for 5 million ton per annum (MMTPA) of green hydrogen by 2030, backed by over Rs 8 lakh crore investments. I tried to break down what this really means in terms of resources, infrastructure, and impact and this is the result 1 Renewable Energy Requirement 125 GW new renewable energy capacity-equivalent to nearly India’s current solar capacity, to be added just for hydrogen Technology mix: Solar 75–85 GW, Onshore wind 35–45 GW, Offshore wind 5–10 GW Annual electricity required: 300–350 TWh (15% of India’s total current power generation) Basis: 50–53 kWh per kg H₂, adjusted for grid losses, intermittency, and BoP 2 Water Requirement Direct water: 0.125 bcm (125 million cubic meters) With treatment & cooling losses: 200–400 MCM annually Sources: 60–70% seawater desalination, 20–25% treated wastewater, rest freshwater Example: Gujarat alone may need 80–100 MCM raw water 3 Electrolyzer Capacity Required: 100–125 GW electrolyzer capacity Mix: Alkaline (60–70 GW), PEM (25–35 GW), SOEC (10–15 GW) Logic: A 1 GW electrolyzer 40,000–45,000 t H₂/year →110-125 GW needed for 5 MMTPA India must build 15–20 GW electrolyzer mfg./year to meet this 4 Balance of Plant (BoP) Total BoP Investment: Rs 3.5–4.5 lakh crore ($42–54B) Per MW: Rs 28–36 lakh/MW (vs global $3–4.5M/MW) Major heads Electrical systems–up to 1.8 lakh crore Civil & structural–up to 1.2 lakh crore Mechanical/utilities –0.9 lakh crore Instrumentation & safety–0.8 lakh crore 5 Manpower Construction phase: 2.5–3 lakh workers at peak Operations phase: 75,000–1,00,000 steady jobs Skill demand: engineers, technicians, welders, safety, O&M–plus a 8,000–12,000 crore training push Where Should This Hydrogen Go? For maximum carbon reduction+export value, allocation matters 1 Green Ammonia (60–65%) 15–17 Mt/year NH₃ 45–50 Mt CO₂ savings $12–15B exports–shipping fuel+fertilizers 2 Green Steel (15–20%) 15–20 Mt steel/year 30–40 Mt CO₂ cut $8–12B exports 3 Green Methanol (8–12%) 2–3 Mt/year 6–9 Mt CO₂ cut $1.5–2.5B exports 4 Refinery H₂ replacement (8–10%) 20–25 Mt CO₂ reduction $2–3B domestic value 5 Synthetic Aviation Fuels (SAF) (3–5%) 0.8–1.2 Mt/year 3–4 Mt CO₂ cut $2–3B exports In Crux CO₂ reduction potential:100–125 Mt annually (10% of India’s industrial emissions) Export earnings: $25–35B/year GDP impact: $15–20B/year Employment: 1–1.2 lakh direct+3–4 lakh indirect jobs Energy security: $10–15B import savings In short, India’s 5 MMTPA target is massive–25 GW RE, 125 GW electrolyzers, 0.2–0.4 bcm water, Rs 8 lakh crore investment–but it positions India as a global export leader in green fuels, steel, and chemicals 5 MMTPA of green H2 isn’t just a number-it’s India’s ticket to decarbonise, to lead global exports, and to secure energy independence for generations, an economic and geopolitical opportunity #GreenHydrogen #GreenAmmonia #EnergyTransition #sanjeevsharmagh2 #India2030

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