Indian solar sector remained buoyant even amid Covid pandemic as 15.3 GW of solar capacity (including solar-wind hybrid) was sanctioned in the current year’s first half itself. However, returns expectations from equity investments rose from around 14% in the first half of 2019 to 16-17%, indicating heightened risk perceptions among investors.
With this, the NYSE-listed developer has been awarded 4 GW in total as part of an auction won in December, which is one of the largest solar projects ever awarded globally.
Private-sector utility Adani Electricity Mumbai Limited has invited global bids to set up 350 MW of grid-connected wind-solar hybrid power projects. There is also the Greenshoe option to add another 350 MW. The projects—to be developed on build-own-operate basis—can be set up anywhere in India. Bidding closes on August 9.
In a recent auction of 500 MW solar PV in the state of Gujarat, solar tariffs have increased to INR 2.98 ($0.046)/kWh, as quoted by state-owned Gujarat State Electricity Corporation (GSEC) Ltd. The reason for the increased tariff rate is cited as pertaining to the uncertainties created by upcoming duties.
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