The scenario of the renewable energy sector is changing very fast in India, primarily in the solar and wind power segment. The latest trends in the auction of solar power projects are quite encouraging for the future of the renewable energy growth paradigm.
In the last week, the power tariffs plunging to as low as Rs 2.43 per kilowatt-hour (KWh) in an auction that was conducted by the state public sector Gujarat Urja Vikas Nigam, which is the new low compared to Rs. 2.44 per unit, registered in the month of May 2017.
This unique development in the renewable energy sector has attracted lots of potential players in the manufacturing of modules and other equipment industry, which is expecting a mammoth growth in near future and also in the long run.
The central government is aware of this strategic task and already considering the option of capital subsidy, in the tune of 30%, for developers as part the new solar manufacturing policy, which could be helpful for domestic manufacturers of solar power equipment. As a result, this will help the country to counter the aggressive invasion of solar modules from China and other foreign suppliers and extend India’s green energy space.