Mumbai investor Edelweiss Group will gain a controlling stake in the generation assets in a deal which Engie says will allow it to reduce its debt by Rs3,160 crore.
Ratings may be downgraded if there is a persistent delay in resolving the tariff related dispute or any adverse revision in the tariffs by the state regulator and/or continued delays in receipt of payments from DISCOMs.
Norwegian analyst Rystad Energy has predicted the stop on PV tenders in Karnataka will see Rajasthan become India’s leading solar state this year. The market research firm expects India to add only 10 GW new solar in 2020, however, and the same figure in 2021.
Program aims to drive down the cost of solar electricity to a maximum of Rs2.50/kWh in a nation where tariffs vary wildly from state to state.
India may fall around 7 GW short of its ‘60 GW by 2022’ utility-scale solar target if the power purchase agreement revision proposal by the state government is implemented.
Range anxiety continues to be an obstacle to electric vehicle take-up but the nation’s willingness to embrace car-sharing and other workarounds offers plenty of promise to the sector, according a World Economic Forum report.
The latest blow in the political battle between clean energy project developers and an anti-renewables state government has seen the electricity regulator order power distribution companies to honor PPAs signed after a public tender.
Continuing delays in payments from utilities, regulatory uncertainty on tariff matters and tight financing have hit the industry hard.
Plant load factor for thermal power generators ramped up to 70-80% between July 2019 till date while solar power projects were arbitrarily backed down by more than 60-70% of their operational capacity during the same period.
A report by Indian ratings agency CRISIL points to a rising rate of tender failures, an inconsistent policy approach from central and state governments and restrictive solar energy tariff caps and says India could have just 104 GW of renewables capacity by 2022.
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