Finance

The government should consider offering a 50% capital subsidy for setting up R&D and quality testing infrastructure within the manufacturing units and a 200% super-deduction for the R&D expenditure on new and clean solar technology development. Simultaneously, it should look at implementing tariff barriers on imports for at least four-five years.

Challenges like frequent policy and regulatory changes, high capital costs, low awareness, non-uniformity in approval processes across states, restriction on net metering, and additional charges by DISCOMs need to be addressed for rooftop solar to take off in India.

The financing scheme, available only to Tata Power customers, provides collateral-free loans at an interest rate less than 10% for both off-grid and on-grid rooftop solar connections.

The funds will be used to move about 7,200 km of overhead distribution lines underground. Besides, fibre-optical cables will be installed in parallel to the underground distribution cables to strengthen the communication network for smart metering, distribution automation, etc.

The West Bengal-based solar cell and module manufacturer, which incurred an INR 28.95-crore loss in FY2018-19, has posted an INR 6.56-crore profit for FY2019-20. 

The Solar Energy Corporation of India, NTPC, NHPC and other state-owned organizations have been directed to reduce RE contracts’ performance security from 5-10% to 3% of the contract value under the Finance ministry’s order dated November 12, 2020

An analysis by India Ratings and Research (Ind-Ra) says improvements in PV panel designs and costs, lower financing costs, and state-specific sectors such as the location’s solar potential and certain waivers have driven the decline in Indian solar tariffs.

The solar glass manufacturer plans to utilize the funds to more than double its solar glass production capacity from 450 tonnes per day (TPD) to 950 TPD.

The Indian renewables platform’s promoters have committed additional equity funding of $390 million, taking the total to $721 million. National Investment and Infrastructure Fund (NIIF), accounting for $284 million of the new injection, becomes the majority shareholder now. U.K. government-owned development finance institution CDC Group and UK-India Green Growth Equity Fund (GGEF) have committed $70 million and $36 million, respectively.

A new report looks at the rising dependence of India’s DISCOMs on electricity subsidies, despite concerted bailout efforts by the central government. It assesses various states’ performance in reining in DISCOMs’ financial losses and enhancing their overall efficiency over the last five years. Building on these findings, the study suggests reforms in the distribution and design of subsidies to increase power companies’ revenues as consumption surges.