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Belarus Photovoltaic Market: Outlook 2016÷2025 - Single User

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Photovoltaic (Solar PV) Market in Belarus is expected to grow in the period 2016 - 2025. New feed-in tariffs for solar PV power entered into force in 2015 ...

Update: June, 2017
Format: 1 file(s) (PDF report) in English language
Author: Renewable Market WatchTM
Pages: 132
Report production №:
RMWIN3502016158
Delivery:
Up to 24 hours by e-mail

  • This market report offers an incisive and reliable long-term overview of the solar photovoltaic sector of the country for the period 2016 ÷ 2025. In view of recent cuts in FIT’s announced in Germany, Spain, France, UK, Czech Republic, Slovakia, Bulgaria, Greece and Italy, the Republic of Belarus represents an interesting investment destination in CIS region with one of the highest feed-in tariff support levels in the world. Belarus is ranked among top 5 countries by attractiveness for solar PV investments among CIS countries by Renewable Market Watch in their yearly updated "Attractiveness index for solar PV energy investments in CIS countries in 2016".

    Current cumulative installed solar PV capacity in the country is insignificant, but a number of fully permitted and ready to build projects will promptly increase in 2017 and next years. First MW scale photovoltaic power plants have been launched into commercial operation in 2016, whilst pipeline of over 321 MW solar projects are progressing in different stages of permitting process. Feed-in tariff for solar energy has been updated in Belarus in May 2015 combined with 20 years PPA period is expected to pave the way for fast further growth of solar PV market in Belarus.

    The report provides a complete picture of the market situation, dynamics, current issues and future prospects. You will find more than 130 pages of valuable information in this unique in-depth analysis of the Belarus solar PV market. With comprehensive market data this report brings clear and concise insights, to help investors in their decision making process. As 2015 and 2016 were challenging years for world photovoltaic industry, the time for taking right decisions during 2017 and the next few years is limited. Fast changing market environment requires relevant and accurate information. For your convenience we offer opportunity for orders with customized report content Reasons to buy this market report are, but no limited to:

    • Solar resource potential in Belarus
    • Historical market data provided from 2000 to 2016 and forecasts until 2025
    • Financial Model and Analysis of 5 MW Photovoltaic (Solar PV) Power Plant investment in Belarus (IRR, WACC, Payback, NPV, Cash Flow, etc.)
    • Over 55 charts, tables and maps
    • Overview of Belarus photovoltaic (solar PV) market development 2000 ÷ 2025
    • Development scenario of Belarus photovoltaic (solar PV) sector until 2025
    • Major active and upcoming solar PV power plants in Belarus
    • Current market prices of fully permitted and operational photovoltaic projects
    • Attractiveness index for solar photovoltaic investments in Belarus and CIS countries
    • SWOT Analysis (detailed in 5 pages)
    • Overview of Belarus legal and regulatory framework for RES generation
    • Review of most relevant financing and supporting incentives
    • Project developers, EPC providers and Consultants in Belarus
    • Key organizations and stakeholders affecting development of the photovoltaic sector in Belarus
    • Investment potential and opportunities

    At next pages you will see the full table of content of this report. To order this report just click on the button "ADD TO CART". If you have any other questions please do not hesitate to call us on ++44 203 60 80 138 or write an e-mail to orders@renewablemarketwatch.com

  • TABLE OF CONTENTS    3
    FOREWORD    8
    1    METHODOLOGY AND LIMITATIONS    10
    1.1    Research Methodology    10
    1.2    Limitations    11
    2    EXECUTIVE SUMMARY    12
    2.1    Historical and Current Development Overview of Photovoltaic (Solar PV) Power Market in Belarus    12
    2.2    Belarus Solar Resource Potential    12
    2.3    Key Stakeholders Affecting Photovoltaic (Solar PV) Power Market Development in Belarus    13
    2.4    Market Drivers and Constraints    14
    2.5    Recent and Pending Changes in Renewable Energy Law in Belarus    14
    2.6    Market Forecast Summary    15
    3    BELARUS POLITICAL AND ECONOMIC ENVIRONMENT. PEST ANALYSIS    17
    3.1    Basic Country Data    17
    3.2    Political Climate and Ruling Party    20
    3.3    GDP and Economic Growth    22
    3.4    Taxes    26
    3.4.1    VAT    26
    3.4.2    Income and Corporate Taxes    27
    4    COMMONWEALTH INDEPENDENT STATES (CIS) AND CENTRAL-EAST EUROPE (CEE) POWER MARKET    28
    4.1    General Electricity Market Information    28
    4.2    Photovoltaics (Solar PV) in Energy Sector    35
    4.3    Single Electricity Market of European Union    38
    4.4    CIS States Common Electricity Market (CIS CEM)    41
    4.5    Electricity Market Concept of Eurasian Economic Union    41
    5    COMMONWEALTH INDEPENDENT STATES (CIS)  PHOTOVOLTAIC (SOLAR PV) POWER MARKET    42
    5.1    Market Overview    42
    5.2    Cumulative (CAGR) Installed Photovoltaic (Solar PV) Capacity and Revenue    43
    5.3    Annual Installed Photovoltaic (Solar PV) Capacity and Revenue    44
    5.4    Future Development Trends    45
    6    BELARUS POWER MARKET    46
    6.1    Electricity Transmission and Distribution    46
    6.2    Wholesale Power Market Structure in Belarus    48
    6.3    Tariff Regulation in Power Sector in Belarus    50
    6.4    Electricity Consumption and Generation    50
    6.5    Electricity Imports and Exports    52
    6.6    Electricity Prices for Business and Households    54
    6.7    Renewable Energy Sources (RES) Targets    55
    7    BELARUS PHOTOVOLTAIC (SOLAR PV) POWER MARKET    57
    7.1    Why Invest in Photovoltaic (Solar PV) Power in Belarus?    58
    7.2    Belarus Solar Resource Potential    60
    7.3    Licensing Period Duration    61
    7.4    Regional Substation Capacities for Solar PV Power Projects in Belarus    61
    7.5    Overview of Photovoltaic (Solar PV) Power Market in Belarus    61
    7.6    Market Structure Analysis    65
    7.7    Investment Trends and Development Roadmap    65
    7.8    Competitive Environment in Photovoltaic (Solar PV) Power Market    66
    7.9    Profiles of Key Players and Investors in Photovoltaic (Solar PV) Power Market    68
    7.10    Cumulative (CAGR) Installed Photovoltaic (Solar PV) Capacity and Revenue    68
    7.11    Annual Installed Photovoltaic (Solar PV) Capacity and Revenue    70
    7.12    Market Prices for Photovoltaic (Solar PV) Power Projects in Belarus in Development, Ready to Build and Operational (Grid Connected) Condition    71
    7.13    Key Cost Structure Elements of Photovoltaic (Solar PV) Power Plant in Belarus    71
    7.14    Levelized Cost of Energy (LCOE) for Photovoltaic (Solar PV) Power in Belarus    72
    7.15    Key Photovoltaic (Solar PV) Power Projects in Belarus Under Development    72
    7.16    Mergers and Acquisitions    77
    8    DRIVERS AND CONSTRAINTS OF PHOTOVOLTAIC (SOLAR PV) MARKET IN BELARUS. SWOT ANALYSIS    78
    8.1    Market Drivers    78
    8.2    Market Drivers Explained    79
    8.3    Market Constraints    79
    8.4    Market Constraints Explained    79
    8.5    SWOT Analysis    79
    9    FINANCIAL ANALYSIS OF PHOTOVOLTAIC (SOLAR PV) MARKET IN BELARUS    82
    9.1    Financing Options of Photovoltaic (Solar PV) Power Projects in Belarus    82
    9.2    Financial Model and Analysis of 5 MW Photovoltaic (Solar PV) Power Plant investment in Belarus (IRR, WACC, Payback, NPV, Cash Flow, etc.)    87
    10    TECHNOLOGY ANALYSIS    90
    10.1    Photovoltaic (Solar PV) Technology Overview    90
    10.2    Technology Trends    91
    11    CIS COUNTRIES RENEWABLE ENERGY POLICY LANDSCAPE    93
    11.1    RES Regulations and Directives of European Union (EU) affecting CIS countries    93
    11.1.1    Precedent Regulations    94
    11.1.2    EU 2030 Framework for Climate and Energy Policies    95
    11.1.3    EU Energy Roadmap 2050    98
    11.2    RES Strategy for CIS Countries Developed by UN ECE    101
    11.2.1    Development of Educational Activity and Personnel Training    102
    11.3    Renewable Energy Sources (RES) Mandatory Targets for CIS Countries    102
    12    BELARUS RENEWABLE ENERGY SOURCES (RES) LEGAL AND REGULATORY FRAMEWORK    104
    12.1    Main Laws and Regulations    105
    12.2    Support Schemes    107
    12.3    Recent and Pending Changes in Renewable Energy Law in Belarus    108
    12.4    Zoning, Planning and Construction Related Authorizations    109
    12.5    Environmental Related Authorizations    111
    12.5.1    Environment Protected Areas    112
    12.5.2    Clean Development Mechanism (CDM) and Joint Implementation (JI)    113
    12.6    Energy Law Authorizations    114
    12.6.1    Power Generation Licensing    114
    12.6.2    Grid Interconnection and Quota Limitations    116
    12.6.3    Power Off-Take    116
    12.6.4    Feed-in tariff (FIT)    116
    12.6.5    RES Certificates (Guarantees of Origin)    118
    12.7    Additional Incentives for Photovoltaic (Solar PV) Power Projects in Belarus    118
    12.8    Future Market Pricing Mechanisms    118
    13    KEY STAKEHOLDERS AFFECTING PHOTOVOLTAIC (SOLAR PV) POWER MARKET DEVELOPMENT IN BELARUS    119
    13.1    Government Stakeholders    119
    13.2    Non-Government Stakeholders    122
    13.3    Electricity Generation, Transmission System Operator (TSO) and Distribution System Operators (DSO’s)    122
    14    CONCLUSIONS AND RECOMMENDATIONS    124
    15    LIST OF ABBREVIATIONS    127
    16    REFERENCES    129
    17    DISCLAIMER    132
    APPENDIX I. SOLAR MAPS OF CIS COUNTRIES AND BELARUS    133

  • Map 1: Where is Belarus on the CIS Countries Map    16
    MAP 2: Major Transport Corridors Passing Through Belarus    17
    MAP 3: Belarus Administrative Regions Map    19
    MAP 4: The Synchronous Grids of Europe and CIS States     28
    MAP 5: Interconnection Grid Map of Central-East Europe and CIS States, ENTSO-E    29
    Map 6: Electricity Grid Map of Belarus (750-330-220-110 kV)    47
    Map 7: Solar Resource Map of Belarus    59
    MAP 8: Environment Protected Areas in Belarus    113
    MAP 9: Solar Irradiation and Solar Electricity Potential for Horizontally Mounted Photovoltaic Modules in Europe and CIS countries    133
    Map 10: Solar Irradiation and Solar Electricity Potential for Optimally Inclined Photovoltaic Modules in Europe and CIS Countries 134

    Chart 1: Belarus Real GDP Growth for the Period 2000 ÷ 2025 (including forecast)    24
    Chart 2: Belarus GDP Growth Compared to EU-27 for the Period 2000 ÷ 2025 (including forecast)    25
    Chart 3: Corporate Tax Income in Selected Central-East Europe (CEE) and Commonwealth Independent States (CIS)     26
    Chart 4: Physical Energy Flows Values in GW in Central-East Europe (CEE) and Commonwealth Independent States (CIS) in 2016    29
    Chart 5: Share of Renewables in Electricity Generation in Selected Central-East Europe (CEE) Countries and Commonwealth Independent States (CIS), 2016 (in %), EuroStat    31
    Chart 6: Average Base Load Electricity Price in Selected European Countries (EUR/MWh): 2008 - 2016    32
    Chart 7: Forecast for RES Generation Capacity by Source Type in the EU to 2020 and 2030 (in GW), ENTSO-E    33
    Chart 8: Net Power Generation Added Capacities in the EU 28 in 2016 (MW), WindEurope, SolarPower Europe    34
    Chart 9: Age of Power Plants in Europe in 2016; SolarPower Europe    35
    Chart 10: Share of New Power Generation Capacities Added in the EU 28 in 2016 (MW), WindEurope    36
    Chart 11: Installed Power Generating Capacity per Year (MW) and Renewable Share (in %) 2000 – 2016, WindEurope    36
    Chart 12: New Installed and Decommissioned Power Generation Capacity in the EU 27 for 2016 (GW), WindEurope    37
    Chart 13: Cumulative (CAGR) Installed Capacity of Photovoltaic (Solar PV) Power Plants (in MW) in Commonwealth Independent States (CIS) 2000 ÷ 2025, including forecast    42
    Chart 14: Cumulative (CAGR)  Revenue of Photovoltaic (Solar PV) Power Plants (in Millions USD) in Commonwealth Independent States (CIS) 2000 ÷ 2025, including forecast    43
    Chart 15: Annual Installed Capacity of Photovoltaic (Solar PV) Power Plants (in MW) in Commonwealth Independent States (CIS)  2000 ÷ 2025, including forecast    43
    Chart 16: Annual Revenue of Photovoltaic (Solar PV) Power Plants (in Millions USD) Commonwealth Independent States (CIS)  2000 ÷ 2025, including forecast    44
    Chart 17: Synchronous High Voltage Grids Operation of Power Systems of Belarus, Russia, Estonia, Latvia and Lithuania (BRELL)    45
    Chart 18: Structure of the Power Market in Belarus    47
    Chart 19: Wholesale Power Market Structure in Belarus    48
    Chart 20: Tariff Regulation in Power Sector of Belarus    49
    Chart 21: Share of RES electricity from Total Installed Power Capacity in Belarus in 2016    49
    Chart 22: Belarus Total Annual Electricity Consumption (in TWh) 2000 ÷ 2016    50
    Chart 23: Belarus Power Generation Capacity Breakdown by Source (Fuel) Type in 2016    51
    Chart 24: Electricity Imports and Exports in Belarus 2000 ÷ 2025 (in TWh) including forecast    52
    Chart 25: Belarus Targets for Renewable Energy Sources (RES) by 2050 (in %)    55
    Chart 26: Cumulative (CAGR) Installed Capacity of Photovoltaic (Solar PV) Power  Plants in Belarus (in MW) 2000 ÷ 2025, including forecast     68
    Chart 27: Cumulative (CAGR) Revenue of Photovoltaic (Solar PV) Power  Plants in Belarus (in Millions USD) 2000 ÷ 2025, including forecast    68
    Chart 28: Annual Installed Capacity of Photovoltaic (Solar PV) Power Plants in Belarus (in MW) 2000 ÷ 2025, including forecast    69
    Chart 29: Annual Revenue of Photovoltaic (Solar PV) Power Plants in Belarus (in Millions USD) 2000 ÷ 2025, including forecast    69
    Chart 30: Levelized Cost of Energy (LCOE) for Photovoltaic (Solar PV) Power in Belarus    71
    Chart 31: BelSEFF Structure    83
    Chart 32: Cumulative Cash Flows and Break-Even Point of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Belarus    88
    Chart 33: Photovoltaic (Solar PV) System Price Evolution (€/Wp) 1990 ÷ 2016 (BNEF, PV news, EU Commission – DG JRC, Roland Berger)    90
    Chart 34: Corporate Governance Structure of Belenergo    122

    Table 1: Electricity Prices for Business and Households    53
    Table 2: Support Schemes for Renewable Energy Sources (RES) Generation in the EU Countries and CIS Countries    57
    Table 4: Market Prices for Photovoltaic (Solar PV) Projects in Belarus for 2016 ÷ 2025 in Development, Ready to Build and Operational (Grid Connected) Condition     70
    Table 5: Key Cost Structure Elements of Photovoltaic (Solar PV) Power Plant in Belarus    71
    Table 6: Database with Major Operational (Grid Connected), Under Construction and Planned Photovoltaic (Solar PV) Projects in Belarus    73
    Table 7: Key Financial Parameters of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Belarus    87
    Table 8: Key Financial Viability Indicators of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Belarus (IRR, NPV, Payback, Benefit-Cost)    87
    Table 9: Project Costs and Savings (Income) Summary of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Belarus    87
    Table 10: Yearly Cash Flows of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Belarus (Pre-tax, After-tax, Cumulative)    88
    Table 11: Crystalline Module Price Trend in April 2017   91
    Table 12: Feed-in-tariffs (FiT) for Electricity from Renewable Energy Sources (RES) in Belarus    116