Adani Group wins bid for developing 100MW solar unit in Chhattisgarh
India: In the latest solar
auction conducted by the Solar Energy Corporation of India (SECI), the Adani
Group won the project for setting up a 100MW solar power project in
Chhattisgarh. Three companies like Adani Group, Azure Power and Spectrum Coal
& Power were among the auction, out of which none of the bidders quoted
below the reserve price i.e.., USD0.07 per unit. The winning company is obliged
to supply electricity at the price it bid. The Ministry of New and Renewable
Energy (MNRE) provides VGF, or subsidy, of up to USD0.15 million per MW to
solar developers.
TechSci Research depicts that the growing demand for renewable sources
of energy and favorable government incentives to drive India solar equipment
market through 2020. Rising government investments into solar sector, increasing
technological advancements, growing environmental concerns, government support
in the form of favorable policies, subsidies and tax incentives are expected
have a significant positive impact on the market in the ensuing years. In
addition to this, the government policies that promotes local manufacturing
through subsidies and anti-dumping duties would further support the large scale
production of equipment.
According to released report of TechSci Research “India
Solar Power Equipment Market Forecast &
Opportunities, 2020”, the solar power equipment market in India is
projected to surpass USD4 billion by 2020. Constantly improving solar equipment
technologies, advanced manufacturing processes for production of hi-tech
equipment and anticipated decline in equipment prices is projected to further
drive the solar equipment market over the next five years.