In 2015, Germany and India signed a deal outlining plans by Germany to provide loans amounting to €1 billion for the development of Indian solar PV plans. Loans are provided through development bank, KfW. On the Indian side, REC issues low-interest loan schemes in conjunction with private sector participation to disperse the funds.
In the first big auction, a day after the imposition of a 25% safeguard duty on solar imports, the winning tariff of Rs 2.79 (US$0.041) at the 200 MW Odisha auction took the industry by surprise.
Inspectors from solar risk management company PI Berlin visited six projects and exposed cost-cutting in installation, non-existent warranties, serious safety concerns and improbable performance figures.
Owing to a rapid scaling up of solar capacity, Karnataka has overtaken Tamil Nadu to become India’s top state in terms of installed renewable energy capacity. The state installed 5 GW of new PV capacity in 2017-18 alone—according to a report by the US-based Institute for Energy Economics and Financial Analysis (IEEFA).
Citing high tariff of INR 3.48 ($0.050)/kWh as untenable, the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) has cancelled the recent auction for the development of 1 GW grid-connected solar PV projects across the state.
While overall global investment in clean energy saw a decrease of just 1% YoY in the first half of 2018, solar’s share dropped 19% following changes to China’s PV policy and lower project costs, says Bloomberg NEF (BNEF). It forecasts this trend to continue throughout the year.
More than 80% of India’s solar equipment requirements are met through imports from China. Against this backdrop, industry analysts see the predicted 30% lower module pricing, following China’s revised policy, as a good news for Indian PV projects.
On the sidelines of the Renewable Energy Dialogue 2018, organized by Council on Energy, Environment and Water (CEEW) in New Delhi recently, pv magazine spoke to the Counil’s founder and CEO, Arunabha Ghosh, senior programme lead, Kanika Chawla, and Hero Future Energies CEO, Sunil Jain about the performance of India’s renewable sector over the past year, the reasons for the deferral of solar PV project auctions, and the poor uptake of rooftop solar in India.
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