Markets

WFES: ISA signs letters of intent for $5bn financing, MNRE announces $350 million for solar

This week’s World Future Energy Summit (WFES) saw a letter of intent inked at the International Solar Alliance’s (ISA’s) pavilion to secure financing of up to US$5 billion with India’s YES Bank by 2030. MNRE head, R.K. Singh also announced a $350 million solar development fund by the Indian Government for solar projects.

ReNew Power raises $352 million to repay loans

ReNew Power Ventures Pvt. Ltd has raised $ 352 million via Non-Convertible Debentures to repay loans.

Orb Energy raises over $15 million for rooftop solar

The investments from Netherlands-based FMO and the U.S.’s OPIC will help to grow the company’s platform in India, which finances rooftop solar for SMEs. Orb Energy will also expand its Kenyan operations.

India mulls 70% safeguard duty against imported solar cells and modules

India has proposed to impose safeguard duty at the rate of 70% for a period of 200 days on imported cells and modules coming from China PR and Malaysia.

1

India rejects U.S. solar claim at WTO

India hit back on Monday at Washington’s latest legal assault on its solar power policies at the World Trade Organization, rejecting a US legal claim and exploring possible new protection of India’s own solar industry.

Interview: Indian solar import duties explained

Gyanesh Chaudhary, General Secretary of All India Solar Industries Association, speaks to pv magazine ahead of an ongoing tax hearing regarding imported solar cells and modules. On behalf of AISIA, he recommended solutions that should be considered for the benefit of local manufacturers.

AISIA opposes safeguard duty on imported solar panels and cells

The All India Solar Industries Association (AISIA) says the proposed safeguard duty will be counterproductive for the solar industry, and has called for differential anti-dumping duties for specific countries to be imposed, including China.

India’s impressive solar achievements in 2017

2017 was a busy year for India’s solar industry. As of the end of November, the country had installed around 5.5 GW of PV. With its ambitious renewable energy goals, it is paving the way to becoming a world leader in the industry. Overall, the country saw a rapid increase in renewable energy activity, with solar dominating almost 48% share of total capacity installed.

1

GST leads to 12% increase in solar project costs – AISIA

All India Solar Industries Association (AISIA) has urged the government to remove the Goods and Services Tax (GST) from the balance of systems for solar equipment. The association said that components like inverters, cables and transformers under GST are charged at 5-8%. Previously, they were charged 2% central sales tax and no excise duty.

Indian solar policy roundup 2017

MNRE head RK Singh delivers a lowdown on India’s current solar installations, recent policies that the government has initiated, and the customs issues with imported solar modules.