This is not the first time that the Rupee’s free fall has imperiled solar projects. In June 2013, when it dropped 9% to a low of Rs. 59.68 to the Dollar, it impacted Rs. 4,000 crore worth of solar power projects in India.
Image: Flickr/Gopal Vijayaraghavan
The rupee’s weakness is driven by the fact India is a net importer, and needs more dollars every year to import. The fall does not bode well for the import-driven Indian solar sector which, in 2017, imported solar PV modules and cells totaling nearly $4.12 billion, a 43% increase from the $2.88 billion recorded the previous year.
Read the full article on pv magazine India.
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