Apple Partners with CleanMax to Power India Operations with Renewable Energy

Explainer: Application Process for ALMM Inclusion and Renewal

EU Member States Sign Solar Charter to Boost Domestic Manufacturing

Daily News Wrap-Up: NTPC’s 1 GW Wind-Solar Hybrid Auction

Sprng Energy, AMPIN, Juniper, ReNew, Avaada Win NTPC’s 1 GW Hybrid Auction

Biofuels Firm GPS Renewables Raises $50 Million in Debt Financing

Solar Auctions Surge by 229% in Q1 2024, Tender Activity Up 122%

Global Wind Installations Reached 1 TW Milestone in 2023

Funding and M&A Roundup: Nexamp Secures $520 Million

Project Finance Brief: Arevon Secures $352 Million for Posey Solar Project

<p>There was a range of activity from stakeholders in India’s solar sector during the month of March. Here is a quick recap of the important data points and headlines:</p>
<p>The Dispute Settlement Body (<a href="https://mercomindia.com/wto-compliance-panel-india-us-dispute/" target="_blank" rel="noopener">DSB</a>) of the World Trade Organization (WTO) agreed to set up a panel to look into the ongoing trade conflict between the United States and India.</p>
<p>The National Bank for Agricultural and Rural Development (NABARD) was poised to receive a <a href="https://mercomindia.com/nabard-100-million-rooftop-india/" target="_blank" rel="noopener">$100 million</a> loan from the Green Climate Fund (GCF) for the development of rooftop solar in India.</p>
<p>There is an immediate need to establish <a href="https://mercomindia.com/need-for-green-energy-corridors-rises/" target="_blank" rel="noopener">Green Energy Corridors</a> as India scales up installed renewable energy capacity. More than 64 GW of renewable energy capacity have been connected to the grid so far.</p>
<p>The Ministry of New and Renewable Energy (MNRE) charted a course of action for wind turbine generators (WTGs) to follow in order to receive a low voltage ride through (<a href="https://mercomindia.com/mnre-wind-turbine-lvrt-certification/" target="_blank" rel="noopener">LVRT</a>) certification.</p>
<p>In 2017, the Indian solar sector logged over <a href="https://mercomindia.com/indian-solar-financing-2017/" target="_blank" rel="noopener">$10 billion (~₹650 billion)</a> in financing activity, Mercom reported.</p>
<p>Microsoft announced the completion of its first <a href="https://mercomindia.com/microsoft-solar-deal-bengaluru/" target="_blank" rel="noopener">renewable energy deal</a> in India.</p>
<p>The average spot power price recorded in <a href="https://mercomindia.com/shot-power-price-feb-2018/" target="_blank" rel="noopener">February 2018</a> shot up by approximately 27 percent when compared to the price recorded during the same month of 2017.</p>
<p>Tamil Nadu Generation and Distribution Corporation (TANGEDCO) revealed plans to tender <a href="https://mercomindia.com/tamil-nadu-tender-3-gw-renewable/" target="_blank" rel="noopener">3 GW</a> of renewable energy capacity.</p>
<p>Power Minister <a href="https://mercomindia.com/power-minister-says-no-loans-to-discoms-in-loss/" target="_blank" rel="noopener">R.K. Singh</a> directed the Rural Energy Corporation (REC) and the Power Finance Corporation (PFC) to not grant loans to distribution companies (DISCOMs) that are taking heavy losses (above 15 percent) unless they devise a plan to reduce them.</p>
<p>The European Investment Bank (EIB) and the Indian Renewable Energy Development Agency (IREDA) inked an agreement worth <a href="https://mercomindia.com/ireda-eib-agreement-india/" target="_blank" rel="noopener">€150 million (~$184.81 million)</a> to further the growth of renewable energy generation.</p>
<p>A total of <a href="https://mercomindia.com/jawahar-navoday-18-78-mw-pv/" target="_blank" rel="noopener">264</a> Jawahar Navoday Vidyalayas are poised to benefit from the deployment of rooftop solar systems.</p>
<p>Mercom reported that top four states made up almost <a href="https://mercomindia.com/states-accounted-75-percent-indias-installations-2017/" target="_blank" rel="noopener">75 percent</a> of total utility-scale solar installations in India in 2017.</p>
<p>The Indian Renewable Energy Development Agency (IREDA)’s gross non-performing assets (NPAs) rose to <a href="https://mercomindia.com/ireda-gross-npas-6-percent-2016-17/" target="_blank" rel="noopener">6.01 percent</a> of its total assets in the financial year (FY) 2016-17.</p>
<p>Mahindra Renewables achieved financial closure on a <a href="https://mercomindia.com/mahindra-financial-closure-rewa-solar/" target="_blank" rel="noopener">250 MW</a> grid-connected solar photovoltaic (PV) project being developed in the Rewa Solar Park in Madhya Pradesh.</p>
<p>Bharat Heavy Electricals Limited (BHEL) sought to enter into a <a href="https://mercomindia.com/bhel-partners-bid-nlc-bess-tender/" target="_blank" rel="noopener">consortium agreement</a> with Battery Energy Storage System (BESS) manufacturers and suppliers.</p>
<p>A recently announced <a href="https://mercomindia.com/lab-policy-solar-project-delays/" target="_blank" rel="noopener">National Lab Policy</a> is set to add a new wrinkle that could slow down project commissioning, various solar project developers and manufacturers told Mercom.</p>
<p>The Ministry of New and Renewable Energy (MNRE) further postponed the second edition of the Global Renewable Energy Investors Meet &amp; Expo, <a href="https://mercomindia.com/mnre-postpones-re-invest/" target="_blank" rel="noopener">RE-INVEST 2018</a>.</p>
<p>In calendar year (CY) 2017, the Indian solar sector imported solar modules and cells totaling nearly $4.12 billion (~₹269 billion), a <a href="https://mercomindia.com/indian-solar-import-export-2017/" target="_blank" rel="noopener">43 percent increase</a> from the $2.88 billion (~₹194 billion) recorded during the preceding year.</p>
<p>The lowest-ever L1 tariff of <a href="https://mercomindia.com/lowest-tariff-kredl-pavagada-solar-auction/" target="_blank" rel="noopener">₹2.91 (~$0.044)/kWh</a> was quoted in an auction to develop 550 MW of grid-connected solar photovoltaic (PV) projects conducted by Karnataka Renewable Energy Development Limited (KREDL).</p>
<p>The National Hydroelectric Power Corporation (NHPC) commissioned a <a href="https://mercomindia.com/nhpc-commissions-50mw-solar-tamil-nadu/" target="_blank" rel="noopener">50 MW</a> grid-connected solar photovoltaic (PV) project in the Theni and Dindigul districts of Tamil Nadu.</p>
<p>Solar tariffs hovered round the <a href="https://mercomindia.com/guvnl-auction-solar-tariff-3/" target="_blank" rel="noopener">₹3 (0.0462)/kWh mark</a> in a 500 MW grid-connected solar photovoltaic (PV) auction held by Gujarat Urja Vikas Nigam Limited (GUVNL).</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/saumy/" class="vcard author" rel="author"><span class="fn">Saumy Prateek</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/2023/12/saumy-edited-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Saumy Prateek</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/saumy/" target="_blank" rel="noopener">More articles from Saumy Prateek</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="79" height="102" /><a href="https://mercomindia.com/author/saumy/" rel="noopener"><strong>Saumy Prateek, </strong> </a>is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism &amp; Mass Communication from the Manipal Institute of Communication at Manipal University.<a href="https://mercomindia.com/author/saumy/">More articles from Saumy Prateek.</a></div>
</div></div><div class="clearfix"></div></div></div>

News Highlights from March 2018: Key Developments in India’s Renewable Sector

march-2018

Get the most relevant India solar and clean energy news.

RECENT POSTS