Yinson will pay Rs 554 million (RM32 million) for the stake, and additional funding of Rs 600 million (RM35 million) to repay certain outstanding liabilities of the Indian independent power producer which has two plants in the massive Bhadla Solar Park.
This article talks about the areas the government needs to address both immediately and in the long run to help the ailing solar industry in the country.
Planning ahead is crucial to ensure the Indian solar industry bounces back quickly and the slowdown is not carried forward to 2021-22, say BloombergNEF analysts even as they estimate 75% fall in PV imports in the first quarter of year 2020 over the previous quarter and revise annual capacity addition forecasts.
Sliding electricity demand and declining commercial and industrial activity could prompt distribution companies to block or delay payments to solar power producers.
The project—East North Interconnection Company Limited (ENICL)—provides critical inter-state connectivity for evacuation of power from generation plants in the north-eastern region. It also aims to end power shortfall in Assam during non-monsoon months.
For one of India’s largest foreign investors, it’s time to invest in renewables.
Proposals must reach the Department of Science & Technology (DST), Government of India, and Ministry of Science and ICT (MSIT) of the Republic of Korea by May 8. Each selected project will be funded for a period of three years.
A report by Norwegian energy consultant DNV GL has considered the opportunity for long-term energy storage to play a role in balancing annual supply and demand fluctuations in a renewables-led grid. Using 58 years of Dutch weather and energy consumption data, the study found long-term solutions such as green hydrogen could make a valuable contribution – but perhaps not as much as some analysts believe.
The New Delhi based lender—which has funded over 45 MW of distributed solar energy assets—will use the new investment to catalyze the growth of residential and commercial solar systems, solar pumps, floating solar and solar cold chains in India.
These solar plants—installed for eleven nagarpalikas (municipalities) in the State—would generate approximately 2,835 KW power, saving Rs 2.94 crore in the electricity bills.
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