The state-owned hydropower producer has issued an Expression of Interest (EoI) to select potential engineering, procurement and construction (EPC) service partners for building solar capacity of at least 100 MW (AC) anywhere in India on a turnkey basis.
The minimum solar tariffs discovered fell by 131.5% over the last five years, with an 18% drop achieved in the last five months alone.
The regulator has sought a detailed study after it received requests for reconsidering the useful life and capacity utilization factor (CUF) of solar projects as notified in draft regulations 2020.
“Efficient and economically viable energy storage, and optimal hybridization, are crucial for ensuring the expansion of renewable power generation both at the grid and micro-grid scale,” says Deepak Thakur, chief executive officer for the hybrid and energy storage business of Sterling and Wilson. He has spoken to pv magazine about the accelerated proliferation of renewables-plus-storage across markets.
The Solar Energy Corporation of India has issued amendments to the procurement and extended the bidding deadline a second time.
The nation has earned the highest score of 62.7 in terms of attractiveness for solar PV investment and deployment in the latest ranking of top 40 countries by Ernst & Young.
The analyst said currently, India and Australia are the only Asia Pacific countries where renewable power already costs lower than new-build coal. It predicted the trend would spread to the entire region by the end of the decade, while India and Australia would see renewables becoming further cheaper than coal.
The solar installation in India is making a slower-than-expected recovery as Covid-related disruption continues to hurt construction progress. Safeguard duty extension and module price increase have added to the pain.