Only three bidders have come forward for huge manufacturing-linked solar and solar-wind hybrid procurement exercises. The separate auctions – originally intended to drive 12.5 GW of new generation and 5 GW of manufacturing capacity – prompted figures of just 3.05 GW and 600 MW, respectively.
Around US$1 billion is expected to be raised in the sale of up to 30% of Sterling & Wilson’s solar engineering arm. The funds will come from a pre-listing stake sale followed by an initial public offering (IPO), and will be used to reduce the debt of the 153-year-old conglomerate.
Caught in a confusion of canceled auctions, tariff wars, safeguard duties and missed targets, the Indian government is now fast tracking solar power, having asked the Solar Power Corporation of India (SECI) to float 4 GW worth of tenders in four months.
India’s Central Electricity Regulatory Commission (CERC) has ordered government agencies to reimburse nearly US$30 million incurred by solar power developers as additional capital expenditure under the Goods & Services Tax (GST) laws, which came into effect on July 1, 2017.
The Solar Energy Corporation of India (SECI) and Karnataka Electricity Regulatory Commission (KERC) have locked horns over the power pricing of a 970 MW solar project.
Developers gave short shrift to gloomy predictions about depreciation, protectionism and tax headwinds as tendering and auction figures soared, but they shied away from the tough price caps set for SECI’s procurement exercises.
With the Solar Energy Corporation of India having already proposed 10 GW of solar be located on artificial bodies of water over the next three years, Shailesh Mishra has mooted ambitious plans at four more locations.
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