Solar tariffs readjust to market uncertainty
The latest solar power auction for 750MW in Rajasthan saw solar tariffs readjust to Rs. 2.47/kWh and Rs. 2.48/kWh, up slightly from the record low of Rs. 2.44/kWh in May. The upward adjustment is likely influenced by power developers factoring in costlier module prices in China, India’s possible imposition of anti-dumping duty on Chinese and other countries’ modules and the imposition of a 7.5% customs duty on imported modules at Chennai and other ports.
Govt’s 20 GW invite to boost domestic manufacturing
Solar Energy Corporation of India (SECI) has called for Expression of Interest (EOI) from solar PV module manufacturers to set up manufacturing units in India that would together be worth 20GW of manufacturing capacity. The invite is part of the Centre’s plan to boost domestic module manufacturing, and its 175 GW target by 2022, which will include 77GW of solar power plants worth Rs 3,50,000 crore by 2020.
Replacing coal plants with renewables will help save Rs 54,000 cr: Greenpeace
Greenpeace India’s study has claimed that India can lower air pollution and save up to Rs 54,000 crore by replacing expensive coal plants with renewables. The study sourced CEA tariff data of 2015-2016 and compared it with an “assumed” renewable tariff of Rs 3/kWh.
Maharashtra to generate 25,000 MW power through solar
Maharashtra plans to generate around 25,000 MW of solar power as part of its renewable energy plan for 2021-2030, a part of which will be provided to the state’s farmers.
‘World’s largest’ solar power plant in MP
Work will soon commence on the Rs. 45,000 crore, 750MW ultra mega solar project plant at Gurh in Madhya Pradesh. 24% of the plant’s power output will be provided to Delhi Metro. The plant is set in around 1,600 hectares of land.
Yes bank, EIB to back India renewable projects
The European Investment bank (EIB) and Yes bank will together provide India $400 million in finance to help it meet its renewable power targets. EIB will fund $200 million of the 15-year loan, while the other half will come from Yes Bank and other financial institutions.
EU’s 2030 renewable energy targets announced
EU environment ministries have agreed to produce 27% of EU’s power from renewables by 2030, which is up 7% from its 2020 target of 20%. The European Parliament wanted to hike this target to 35% earlier in October.
1/3rd of UK’s energy from renewables
Nearly a third of UK’s power now comes from renewables, as its share in UK’s power generation grew to 30% in 2017’s third quarter.