Markets

The government has signed Memorandum of Understanding with Bhutan, Bangladesh, Nepal, and Myanmar to inter-alia improve power connectivity and enhance energy trading in the region.

U.S.-owned analyst Wood Mackenzie expects solar demand to decline but predicts the market will recover, with the prospects for the energy transition remaining intact.

The renewables business of the conglomerate will undertake its first project across the border by providing engineering, procurement and construction services on a Rs12.6 crore, 3.1 MW array for a German-Bangladeshi knitwear company which will buy the power generated for Rs5.71518/kWh.

The Climate Investment Platform launched by three multilateral bodies in September is now open for business and renewables companies in developing nations across 14 regions including south Asia could qualify for help with clean energy facilities, renewables-related grid improvements and energy efficiency schemes.

An application seeking continued imposition of the safeguard duty for a further period of four years was filed by Mundra Solar PV, Jupiter Solar Power and Jupiter International, through the Indian Solar Manufacturers Association (ISMA).

Developers are also expected to drag their heels over project completion during the first half of the year as the safeguarding duty applied to imported Chinese and Malaysian solar products is due to expire at the end of July.

While China continues to be the top solar module exporter to India, Thailand doubled its module exports to India from $55.05 million in 2018-19 to $110.39 million during the first nine months (April-December) of the current fiscal. Vietnam’s module exports to India also rose sharply from $91.97 million to $127.21 million.

Contracted revenue, minimal volume risk and moderate-to-strong counterparties mitigate cash flow concerns in solar assets.

Following a 20 MW floating solar project in Uttar Pradesh last month, Larsen & Toubro has won an order to design and construct a 50 MW solar plant in Tamil Nadu.

As the contagion continues to spread, its impact is beginning to be felt on the solar industry outside China with the cancellation or postponement of major trade shows and conferences that were set to take place over the next few weeks.