With pass through of any hike in duties, solar power developers will be allowed to increase the tariffs based on which they have bagged the projects, so as to recover the extra cost.
New & Renewable Energy Secretary Anand Kumar, stressed that the country would achieve its target of 175 GW of installed renewable energy capacity well before 2022 adding that ISA shall help mobilise sufficient funds for solar energy projects.
ReNew Power has signed a Memorandum of Understanding (MOU) with the Government of Uttar Pradesh today to facilitate the development of 1200 MW of renewable energy installed capacity in the state.
Using clean, renewable energy to operate the Asangaon station not only helped the environment but will also save the railways Rs 11 lakhs annually, on electricity and power bills.
Tariff for wind power, discovered through auctions, has fallen to a historic low level of Rs 2.64/KWh, much lower than the lowest feed-in tariff for wind at Rs. 4.16/KWh
The Management believes that the future growth for the segment would come from a mix of Government and Private Tenders apart from the M&A route
The system will serve electric grid operated by Tata Power Delhi Distribution Ltd and facilitate grid balancing and stability.
To put the amount in context, global corporate funding for the solar industry - the world's fastest-growing electricity source – was a tenth of that amount in 2017 at $12.8 billion, research firm Mercom says.
Not just Germany, several European countries including Belgium, Britain, France, the Netherlands and Switzerland too experience negative pricing
The researchers said that their technologies could provide short-term environment friendly options till renewable energy come into their own
In a separate reply to the House, Power and New & Renewable Energy Minister RK Singh said that tidal energy cannot be presently harnessed on commercial basis due to high capital cost ranging from Rs 30 crore to 60 crore per MW.
The biofuel is being added to the bus fuel supply chain where it can be used without the need for any modification
The country's renewable energy installed capacity is 58.30 GW as per the recent government data. The government has an ambitious target of raising it to 175 GW by 2022 including 100 GW of solar and 60 GW of wind energy.
Indian Oil Corp is planning to set up battery charging stations for electric vehicles at its petrol pumps, BPCL is looking into rooftop solar plants and HPCL is looking to make a mark in the natural gas and renewable energy segments.
The company has planned to add 1 GW capacity this fiscal, ReNew Power Venture Chairman and CEO Sumant Sinha told PTI. It has installed generation capacity of 2.4 GW, at present. "We are aiming at 5 GW power generation capacity in the next two years time. We have planned to add 1 GW during this fiscal," Sinha said.
The planned norms instruct the destruction of the equipment which does not carry the “Standard Mark” of BIS, according to the renewable energy ministry’s Solar Photovoltaics, Systems, Devices and Components Goods (Requirements for Compulsory Registration) Order, 2017.
The project requires diversion of 55.73 hectares of forest land in Andhra Pradesh's Ramagiri in order to establish a 40MW wind power project.
The minister also said it was time for the government to have a look at whether there was really a need to have separate Renewable Purchase Obligations.
"Power Ministry had finalised the policy last month and sent to the Finance Ministry for vetting before placing it for the Cabinet approval," a source said.
The Bengaluru-based firm has also been working on reducing its per capita electricity consumption. It said the per capita electricity consumption has been reduced by 2.88 per cent in 2016-17.
At present, a hydro power project up to 25 MW is classified under renewable energy and is entitled to various incentives provided by the government.
India is considering electrifying all its vehicles over the next 15 years, a plan that could boost SoftBank's solar ambitions in the country if the government adopts renewable energy to charge the vehicles.
A combination of lower tariffs, muddled policy, and lowered incentives are threatening to cripple the wind power industry.
"India is moving quite quickly in a number of areas as well, again, on renewable energy, which is kind of a golden thread running through this hearing. India is thinking big and moving big," Robert Orr, professor and dean, University of Maryland, School of Public Policy, told lawmakers during a Congressional hearing.
The bonds will be raised by the Ministry of New & Renewable Energy through the Indian Renewable Energy Development Agency during the 2017-18.