News about the cancellation of renewable energy auctions demands urgent attention. Renewable energy generation and toll roads have primarily driven India’s infrastructure push in the recent past, especially to attract private investors. It is essential to tackle the current issues on an urgent basis to ensure that these two sectors continue to be a template for others to emulate.
The growth seen in India of renewable energy generation over the last five years has been driven to a large extent by a well-designed and transparent reverse-auction mechanism in utility-scale solar. One can gauge the importance of the auction process from the fact that utility-scale solar has contributed more than 90 per cent of total solar energy capacity addition over the last eight years (according to Mercom India). An effective auction mechanism has improved investor confidence and kick-started infrastructure creation. Read More
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