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<p align="center"><em>Important Headlines and Data Points from the Indian Renewable Sector in February 2017</em></p>
<p>The <strong>2017-18 budget</strong> proved to be a dampener for the Indian renewable energy sector. Manufacturing sector did not get the required boost. Accelerated depreciation was reduced from 80 percent to 40 percent and 10-year income tax holiday under section 80-IA was not reinstated. (<a href="https://mercomindia.wpengine.com/2017-18-budget-disappointment-indian-renewable-energy-sector/" target="_blank" rel="noopener noreferrer">read more</a>)</p>
<p>New Record Low Solar Tariff of <strong>Rs.3.30 (~$0.049)/kWh</strong> was logged at <strong>REWA Solar Park Auction</strong> in Madhya Pradesh, India. (<a href="https://mercomindia.wpengine.com/new-record-low-solar-tariff-rs-3-30kwh-logged-rewa-solar-park-auction-madhya-pradesh-india/" target="_blank" rel="noopener noreferrer">read more</a>)</p>
<p>It has been challenging for <strong>Rooftop solar</strong> with the elimination of key subsidies. Installation numbers are way behind the targets set by Ministry of New and Renewable Energy. (<a href="https://mercomindia.wpengine.com/mercom-exclusive-elimination-key-subsidies-adds-challenges-faced-rooftop-solar-india/" target="_blank" rel="noopener noreferrer">read more</a>)</p>
<p>Cumulative renewable energy installed capacity in India crossed <strong>50 GW</strong>. (<a href="https://mercomindia.wpengine.com/cumulative-renewable-energy-installations-cross-50-gw-india/" target="_blank" rel="noopener noreferrer">read more</a>)</p>
<p>Japanese company, JERA, invested <strong>$200 million (~Rs.13.36 billion)</strong> for a <strong>10 percent</strong> stake in India’s ReNew Power. (<a href="https://mercomindia.wpengine.com/japans-jera-invests-200-million-renew-power/" target="_blank" rel="noopener noreferrer">read more</a>)</p>
<p>Can <strong>Domestic manufacturers</strong> capture a piece of the growing piece of the India solar market amid record low Chinese module prices? (<a href="https://mercomindia.wpengine.com/mercom-exclusive-can-domestic-manufacturers-capture-larger-piece-growing-indian-solar-market/" target="_blank" rel="noopener noreferrer">read more</a>)</p>
<p>Another <strong>TANGEDCO</strong> tender fizzles. In its most recent tender, the TANGEDCO received bids aggregating <strong>300 MW</strong> against the tendered capacity of <strong>500 MW</strong>. (<a href="https://mercomindia.wpengine.com/another-tangedco-tender-sees-tepid-response-bids-300-mw-received-500-mw-tender/" target="_blank" rel="noopener noreferrer">read more</a>)</p>
<p>Rural Electrification Corporation signs MoU worth <strong>Rs.151.5 billion (~$2.25 billion)</strong> with the state government of Jharkhand to develop transmission lines across the state and connect the entire state to the grid. (<a href="https://mercomindia.wpengine.com/rural-electrification-corporation-signs-mou-worth-rs-151-5-billion-2-25-billion-jharkhand-connect-state-grid/" target="_blank" rel="noopener noreferrer">read more</a>)</p>
<p>The SECI successfully auctioned <strong>1,000 MW</strong> of wind at record low tariff of <strong>Rs.3.46 (~$0.051)/kWh</strong> in the first reverse auction for wind in India. (<a href="https://mercomindia.wpengine.com/seci-auctions-1000-mw-wind/" target="_blank" rel="noopener noreferrer">read more</a>)</p>
<p>To utilize acquired land in <strong>Karnataka</strong>, ArcelorMittal is planning to construct a <strong>600 MW</strong> solar farm. (<a href="https://mercomindia.wpengine.com/arcelormittal-proposes-600-mw-solar-farm-karnataka/" target="_blank" rel="noopener noreferrer">read more</a>)</p>
<p>It has been a year since the UDAY Program was launched. To date, <strong>22</strong> states and union territories have joined the program but the power industry is still waiting for positive results. (<a href="https://mercomindia.wpengine.com/mercom-exclusive-one-year-launch-uday-yet-make-big-impact/" target="_blank" rel="noopener noreferrer">read more</a>)</p>
<p>The PGCIL has secured a <strong>$500 million (~Rs.33.41 billion)</strong> loan from Asian Development Bank for the construction of green energy transmission corridor. (<a href="https://mercomindia.wpengine.com/pgcil-secures-500-million-adb-develop-green-energy-transmission-corridor/" target="_blank" rel="noopener noreferrer">read more</a>)</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/priya-sanjay/" class="vcard author" rel="author"><span class="fn">Priya Sanjay</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Priya-Sanjay-Managing-Director-Mercom-India-1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Priya Sanjay,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/priya-sanjay/" target="_blank" rel="noopener">More articles from Priya Sanjay.</a></p>
</div>
<div class="authorboxn">
<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Priya-Sanjay-Managing-Director-Mercom-India-1.jpg" alt="Wendy Prabhu" />Priya currently serves as the Publisher for MercomIndia.com. With more than a decade of experience working in corporate communications, research, and policy, Priya has deep roots in the Indian energy markets and is regularly in touch with policy makers and industry leaders. Priya received her bachelor’s degree from Vidya Vardhaka College of Arts in Bangalore, India for Political Science and Economics and completed her MBA from Bangalore University. <a href="https://mercomindia.com/author/priya-sanjay/">More articles from Priya Sanjay.</a></div>
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Month in a Minute: February 2017

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