The imposition of a 25% safeguard duty on import of solar cells and modules from China and Malaysia has the industry in a tizzy, with developers holding that the average tariff hike of 40 paise/kWh the move would necessitate jeopardises the future of projects bagged aggressively. The record tariff of Rs 2.44/kWh touched in May, 2017 was replicated as recently as July this year.
Ravi Verma, member, Governing Council, Solar Power Developers Association, says, “since the module cost is around 60% of the costs, any increase on account of the duty would impact project costs. The government should at least exempt projects for which PPAs have been signed, as past orders are being redeemed with extra duty at ports.” Banks had already begun asking for revised project costs and hinted at delaying fresh disbursal of loans, he adds. Read More
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