Prime Minister Narendra Modi’s ambitious goal of building 100 gigawatts of solar capacity in India by 2022 is suffering as inconsistent government policies hurt solar developers’ sentiments. Crisil Research expects India to add 48-50 GW of solar power capacity up to financial year 2023.
“The developers’ sentiment has been negatively impacted by the lack of clarity on several policy issues and arbitrary bid cancellations,” it said in a report. Solar capacity installed in India till January was a little over a quarter of Modi’s 100-GW target, that he hopes to achieve in the next three years. “The renewable energy domain is highly dependent on policy support and any uncertainty on that front can have negative consequences,” the report said.
Crisil continues to monitor it and may raise its xpectations once the regulatory risk is mitigated to an extent, according to the report. Read More