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NEXTracker partners with to APL Apollo Tubes to expand domestic manufacturing

According to reports, global solar tracker manufacturer, NEXTracker has partnered with APL Apollo Tubes for manufacturing a bulk of its products in India. According to a press statement, NEXTracker will be increasing its local steel content percentage to over 80 per cent by volume and weight of its final product. NEXTracker also assess that the association with new Indian steel manufacturer reduces shipment time by up to 50 per cent. Shares of APL Apollo closed 4.91 per cent higher in ... Read More »

Delhi solar plan to meet 8% energy demand?

According to reports, the national capital has been struggling to meet its power demand even as it has been witnessing power struggle between the governments – the Centre and the Delhi government led by Chief Minister Arvind Kejriwal. While the endless conflict in the corridors of powers may hinder many real issues, there could be a ray of hope for the citizens troubled by power outage. The Delhi government solar power policy targets 2,000 MW solar power generation by 2022, ... Read More »

New renewable energy company formed

According to reports, Pashupathy Shankar Gopalan, who used to head the Indian operations of the renewable energy company, SunEdison, till the company collapsed in April last year, has now formed a new company. According to papers filed with the Registrar of Companies, Avyan Renewable Solar Pvt Ltd is into “steam and hot water supply”. No further details are available; Pashu himself was not available for comment. The company has been formed with an authorised capital of Rs. 10 lakh and ... Read More »

Solar module maker Waaree Energies looks to raise $100m

According to reports, Waaree Energies Ltd, one of India’s largest solar module manufacturers, has appointed consulting firm EY to raise around $100 million. The fundraising effort comes in the backdrop of falling solar power tariffs because of plunging prices of solar modules. Module prices are expected to extend their drop in 2017 as global supply exceeds demand. “Waaree Energies has been looking to raise funds. EY is running the process,” said a person aware of the development, requesting anonymity. According ... Read More »

Solar park tenders, power purchase on hold as Rewa bids disrupt market

According to reports, the low bid received for the Rewa solar park in Madhya Pradesh has jolted the market in many ways. While most states are rethinking their tenders, many have gone slow on buying solar power contracted at higher rates. Solar Energy Corporation of India (SECI) has extended the deadline for three solar parks, Charanka in Gujarat, Bhadla in Rajasthan and Kadapa in Andhra Pradesh. Sources said the tenders had been put on hold after solar tariffs declined to ... Read More »

Low bids hurt IRR of solar power developers, aggressive bids to continue

According to reports, the falling bid spiral for solar power in this fiscal is likely to spill over to coming year. However, it will hurt the Internal Rate of Returns (IRR) of the solar power developers. Clean energy sector experts have pointed out low bids have been possible due to declining input price of solar modules. In an estimate by Bridge to India, at average harmonised tariff of Rs 4.31 (¢ 6.3)/ kWh gives us an equity IRR of 14.20 per ... Read More »

Indian solar power producers may get module prices relief

According to reports, global prices of solar modules, a key component in setting up solar power plants, could fall by as much as one-fifth this year, companies and analysts say. That will come as a shot in the arm for Indian producers of solar power and could increase the financial viability of projects. India has a target of setting up 100 gigawatts (GW) of solar and 60GW of wind energy capacity by 2022. Installed solar power had crossed 9GW as ... Read More »

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