The Chinese manufacturer claims to be the first company in the nation to supply that volume of solar modules. The news is unlikely to be welcomed by a government desperate to foster its own solar manufacturing sector.
Revision in the outlook to ‘stable’—from ‘positive’—stems from resurfacing renegotiation fears and continued delay in payments from some of the offtakers.
With the power minister hinting a new renewable energy tariff policy could be in the works, the federal agency responsible for solar – which has come under fire after the latest delay to a troubled PV manufacturing tender – has boasted of the volume of clean power it has signed deals for recently.
The Solar Energy Corporation of India has extended the deadline yet again for a procurement exercise originally intended to secure 5 GW of PV manufacturing capacity and 10 GW of generation assets 13 months ago. The deadline for bidding for 2 GW of production and 6 GW of generation capacity is now October 11.
The financial failings of India’s electric companies have once again come to the fore as the power minister warned the seven worst offending states the lengthening debts they owe renewables developers could be recovered via the National Company Law Tribunal.
Global bids are invited for RESCO and CAPEX mode grid-connected projects to be set up in different states and union territories of India. The projects shall be eligible for achievement-linked incentives. Bidding closes on September 30.
Bidders interested in competing for a tender which will allocate 6 GW of solar capacity linked, pro rata, with 2 GW of manufacturing output now have until September 11 to register their bid as administrator the Solar Energy Corporation of India will amend the exercise to incorporate developer feedback.
The projects — solar, wind or a combination thereof — are expected to supply power for a minimum of six hours per day during periods of peak demand. The last date for bids is Sept. 17.
Micro and mini grid-connected projects will also be considered. The projects—to be developed on ‘build-own-operate’ basis—can be set up anywhere in India for self-use or use by government entities at maximum fixed tariffs of Rs 3.50/kWh. Bidding will close on August 23.
The NYSE-listed solar developer now has 1.5 GW of interstate transmission system projects with sovereign counterparties—the largest such portfolio in India.
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