In April SoftBank teamed up with China's GCL System Integration Technology Co Ltd on a $930 million Indian solar energy venture.
CLP India, the Indian arm of Hong Kong-based China Light & Power, wants more than a footprint in India's thermal energy and wind energy space. That's why it has decided to buy a 49 percent stake in Suzlon's 100 megawatt (MW) solar power assets.
Coal & Power Minister Piyush Goyal says the ministry has been been able to kick-start a lot of stalled power projects over the last 2 years resulting in nearly 46,000 megawatt of additional power capacity coming on board.
In an interview with CNBC-TV18, Anurag Mundra, Joint MD and CFO of Ujaas Energy said that this move will create business opportunity of Rs 16000 core over the next five years for solar power companies.
Sumant Sinha, chairman and CEO of Renew Power, a company which delivers solar and wind power solutions, says while solar power costs are coming down in general, it is nowhere close to Rs 4.63. "I would think that the proper pricing of solar power is still there, in excess of Rs 5," he says.
KPMG expects solar power to disrupt the traditional power generation ecosystem as early as 2017 and expects India to emerge as a hot spot for investors as long as the government puts in a fair framework for risks and rewards
Wind turbine manufacturer Gamesa has announced a foray into the solar business. The company's Indian subsidiary, Gamesa India, will start by setting up a 10-megawatt project in Tamil Nadu even as it plans to expand operations nationally.
SoftBank's founder chairman and CEO Masayoshi Son believes the solar power project will help plug India's power deficit. Additionally, he is also seeking to support Prime Minister Narendra Modi's 'Make In India' vision.
Pawan Singh, director and chief financial officer, PTC India Financial Services told CNBC-TV18 that though wind energy is beneficial, the company will focus on solar power, which is seeing tremendous traction currently.
State Bank of India (SBI) has committed Rs 20,000 crore worth projects over the next five years. SBI is the largest contributor to the Renewable Energy Mission 2022.
In last year‘s Budget, the government had allotted around Rs 1000 crore for solar power projects
The states interested for this solar power will have to identify land and power requirement and power developers will have to bid for the projects.
The Tamil Nadu government's solar policy isn't working out as per plan. According to the policy, heavy power consumers were to meet 6 percent of their total power consumption from solar energy by January 2014.
M&B Switchgears Ltd has been in the business of putting out solar power plants , and this has performed in the last financial year, says Vikalp Mundra, director, M&B Switchgears Ltd. The company's 12 MW solar plant will start generating power by July 15.
With thermal power plants engulfed in myriad problems - from coal supplies, to PPAs going sour, can solar power bridge the gap?