Battery maker CATL ramps up investment in German gigafab to €1.8 billion
Previously, a mere €240 million (Rs1,870 crore) was set to flow into the giga-factory. The corporation’s management reasoned new demand for its battery cells made more investment necessary.
Andhra Pradesh government to reduce payments negotiated under existing power deals
The state government will defy a ministerial order not to renegotiate signed deals after leadership of the legislative assembly changed hands in May’s elections. Consultancy Bridge to India says the contracts are legally binding but the move will shake investor confidence nevertheless.
US investor Encourage Capital raises $40 million to fund rooftop solar for Indian MSMEs
The US-based impact investor will invest in specialized financial institutions in India that can develop and scale commercial rooftop solar finance solutions, serving an estimated US$ 9 billion market opportunity.
What solar manufacturers want from Budget 2019
Indian solar manufacturers are facing a double whammy with USA removing preferential trade status for India and safeguard duty imposed by India nearing fall to 20% from July 2019. Struggling to find domestic as well as export markets, they expect the government to focus on policy direction, not just expenditure.
Karnataka sets benchmark capital cost for solar
The reference capital cost for developing solar projects in Karnataka has risen this year despite continuing falls in component prices.
Government prepares new payment security mechanism for developers — four months after the last one
Solar Energy Corporation of India was given a Rs 500 crore cash pot to help developers in February, but that clearly wasn’t enough, as a second newly announced scheme underscores just how much financial distress the country’s state power companies are in.
Removal of priority-sector lending cap – solar industry reaction
The power minister’s proposal would be a step in the right direction towards meeting the 40 GW rooftop solar target, as it removes a financing hurdle for small and medium enterprises.
Europe announces plans for battery gigafactories
In news that will add urgency to Indian government efforts to establish a domestic storage industry, funding has apparently been secured for 16 GWh-plus production lines in Sweden and Germany. Is India at risk of being left in the starting blocks?
Bifacial beats Trump’s tariffs
Federal trade authorities in the U.S. have ruled bifacial solar modules will no longer be subject to the Section 201 ruling which applies a 25% tariff to solar panel imports.
Azure Power turns a profit
The NYSE-listed developer appears to have turned the corner after reporting a full year profit of Rs138,493 after a Rs10 lakh loss a year ago. Borrowings are on the rise though, as the company plans to drum up an ever larger project portfolio.
