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.
India’s Council on Energy, Environment, and Water (CEEW), which is actively working with the Indian government to update the country’s solar target, says increasing solar pump installations in India requires more than just subsidies.
Clarification on India’s solar domestic content requirement (DCR) under the country’s National Solar Mission has been made by the Ministry of New and Renewable Energy (MNRE), after the U.S. again dragged India to the World Trade Organization (WTO) for non-compliance.
To scale up its mini grids business in Asia and Africa, Indian energy startup Husk Power systems has received sizeable financial backing from international investors.
The European Union as well as Brazil, China and Japan indicate their support for India in the WTO dispute against the U.S. Consensus appears to be that trade retaliatory measures are unjustified. The DSB chair concluded by noting the matter has been referred to arbitration in line.
The power transmission company of the state is planning to purchase 1 GW of solar power this year.
The Indian government has introduced a number of subsidies under various categories of solar projects, from big PV parks to small rooftop and off-grid installations, in order to achieve its 100 GW solar target by 2022. The current status of the subsidies are summarized below.
Azure Power, one of India’s leading independent solar power producers, has commissioned a 100 MW NTPC solar power plant in Telangana.
The Indian state of Maharashtra is considering a floating solar application and is conducting a feasibility study to install solar panels on the Irai dam, located in the Chandrapur region of Maharashtra.