Finance

The plant—constructed and operated by Germany-headquartered IBC Solar Energy—is NextEnergy’s first investment in India as part of its strategy to acquire ready-to-build or operational solar projects across high-growth international markets.

The country—which meets over 80% of the solar module demand through imports—can turn the present crisis into an opportunity by ramping up domestic manufacturing with measures like fiscal incentives.

Cost savings associated with switching to least-cost energy solutions like wind and solar can be redeployed for economic recovery. At the same time, building resilience on fronts like energy system design and supply-chain management is crucial to deal with unexpected shocks and crises.

The industry body has recommended a series of measures including a continuation of FAME II Scheme to 2025, short-term booster incentives for consumers and support for in-house R&D to boost the electric vehicle sector. 

The renewable energy developer—which owns and operates 172 MW of wind capacity in India—has claimed its first solar tender win in the country with a SECI award for 300 MW power.

The Spanish developer, which will sell solar energy at an Indian record low tariff of Rs2.36/kWh under a 25-year deal has spoken to pv magazine about the specifics of the landmark PV plant.

The winning bid, for 300 MW of generation capacity by Spanish developer Solarpack in a 2 GW auction is 3.3% lower than the previous record of Rs2.44.

A 2 GW tender conducted by the Solar Energy Corporation of India has reportedly concluded with prices of Rs2.36-2.38/kWh, according to a tweet which emerged this afternoon.

The Directorate-General of Trade Remedies has called a meeting of concerned parties as it considers whether to extend the duty on solar cells.

The country—aiming for a renewable power target of 450 GW by 2030—has emerged as the world’s largest and most competitive clean energy auction market.