The power minister’s proposed move is a step in the right direction towards meeting the 40 GW rooftop solar target as it removes the financing hurdle for small and medium enterprises (SMEs).
The government is considering financial incentives such as import and export duty waivers to woo battery manufacturers to set up a globally competitive manufacturing base in India.
Easy access to finance topped the agenda of the minister’s meeting with various stakeholders, wherein issues related to land acquisition and Goods and Services Tax (GST) were also discussed.
Following the Indian government’s 40 GW plan for the states, Telangana has pitched for setting up a 5 GW lithium ion plant by announcing the ready availability of 200 acres of land and power and water for the fab at a concessional rate.
With continuous decline in costs of solar power generation, the chorus for shortening the 25-year power purchase agreement (PPA) period is growing louder.
Solar installations picked up significantly in the January-March period, with 1.89 GW of utility-scale PV projects providing 76% of the quarterly total. Rooftop PV accounted for the remaining 590 MW of new capacity additions. Looking ahead, Bridge to India expects the uptrend to continue, as the first quarter ended with a record amount of capacity in the national pipeline.
The Mahindra Group cleantech firm will continue to have majority 51% stake in its subsidiary Marvel Solren, with Mitsui owning the balance. Currently, Marvel operates four distributed solar projects in India with a combined capacity of 16 MW, which the two partners aim to expand to 150 MW by 2023.
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