Finance

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.

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.

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.

The reference capital cost for developing solar projects in Karnataka has risen this year despite continuing falls in component prices.

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.

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.

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?

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.

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.

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.