Markets & Policy

The New Delhi based lender—which has funded over 45 MW of distributed solar energy assets—will use the new investment to catalyze the growth of residential and commercial solar systems, solar pumps, floating solar and solar cold chains in India.

These solar plants—installed for eleven nagarpalikas (municipalities) in the State—would generate approximately 2,835 KW power, saving Rs 2.94 crore in the electricity bills.

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.

Lobby group the National Solar Energy Federation of India has welcomed the move and asked the Ministry of New and Renewable Energy to extend any such measures to existing contracts to help developers meet working capital requirements.

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.

India, with 750 GW of solar potential, has also one of the highest transmission and distribution losses in the world. So, while there is immense scope in PV deployment, there is a need for greater investment in grid related projects also to help the country best utilise its renewable energy potential, says the latest report by SolarPower Europe and National Solar Energy Federation of India (NSEFI) which also makes recommendations to help accelerate investments in the solar sector.

Tata Power will install a range of AC and DC chargers, starting from 7 kW to 50 kW capacity, for Jaguar Land Rover’s electric vehicles to be launched in India.