Covid-19 hits to demand and bill payment collection have worsened the plight of the nation’s already debt-crippled power distribution companies, prompting the government to order an exceptional relaxation of lending limits.
Capacity additions for the current fiscal year are set to exceed the previous accounting period’s 8,532 MW. With Rs405 billion invested in clean energy in the last fiscal year, spending in the first nine months of 2019-20 has been estimated at Rs367 billion.
The state with power deficit of up to 20% provides the opportunity to scale up the solar capacity to 2 GW by 2022, which would require an investment of Rs11,000 crore.
With Narendra Modi’s government stunning pollsters with another huge victory, the solar industry expects renewable power momentum to be maintained with steps including anti-dumping duty on solar module imports, a national policy for rooftop solar and an emphasis on easing private-sector participation in the power sector.
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