When your achievement is 8-9% of your target, things are not quite all right. That is the reality of the rooftop solar business in India today. Against a target of 10,000 MW for March 31, 2018, the achievement as of the last day of 2017 was 923 MW.
The Pune Municipal Corporation (PMC) is going to sign an agreement with the Solar Energy Corporation of India to generate 824 KWP (Kilowatt hours at peak capacity) of solar energy on rooftops of civic buildings.
From the look of it, the bureaucracy seems bent on sabotaging Prime Minister Modi’s plan to create jobs, encourage solar and ensure power for all.
The Ministry of New and Renewable Energy has proposed SRISTI — Sustainable Rooftop Implementation for Solar Transfiguration of India – scheme to incentivise the installation of rooftop solar projects in India.
Bloomberg New Energy Finance has produced a new report which indicates the Indian government will need to invest around $23bn over the next five years if it is to achieve its target of 40 GW in rooftop solar photovoltaics.
Tata Power Solar, India’s largest integrated solar company, sets another landmark by commissioning an unprecedented rooftop project in India – a solar carport on the rooftop of the sprawling 70,000 sq.mtr Unity One mall, a Unity Group endeavor in Rohini.
Tata Power Solar has commissioned India’s first rooftop solar car port at Unity One mall in Rohini, in association with Delhi Metro Rail Corporation (DMRC), to offer provide 300KW of solar electricity.
Clean energy companies are increasingly looking abroad to expand business and diversify risks even as some state utilities in the country are now backing out of contracts, threatening the viability of a number of renewable power plants.
State Bank of India (BOM:500112), or SBI, on Monday announced it will extend INR 23.17 billion (USD 357m/EUR 307m) in financing 575 MW of grid-connected rooftop solar projects.
Indian firms Azure Power (NYSE:AZRE) and Fourth Partner Energy have secured contracts to install 30 MW of rooftop solar power facilities for Indian Railways.