Banks categorize renewable energy projects as risky and believe they offer lower rates of return than fossil fuel schemes, making them reluctant lenders.

The stay on the newly-proposed duty imposed by the Odisha High Court will offer relief to developers waiting to collect shipments from port. But companies must agree to pay the tariff at a later date if it is upheld by the judicial system.

As per the court order, Shapoorji Pallonji can retrieve its solar PV panel consignment at Chennai port, which has been cleared by customs, provided it pays the safeguard duty in case the related notification is upheld.

The Government of India will also consider changes to the 25% safeguard duty imposed on solar cell imports from China and Malaysia only after the next hearing in the Odisha High Court, which stayed the levy.

As of July, Acme Solar had about 2.8 GW solar projects at different stages of development across India. Recently, it won another 600 MW of SECI’s 3 GW interstate transmission system (ISTS) tender, at a tariff of INR 2.44/unit (USD 0.036/unit).

The 10% reduction in GST is an example to the UK government, which is seeking suggestions on how to drive solar take-up, but manufacturers are already calling for further reductions to fire battery storage in the nation.

Greenko Energies will set up India’s largest Integrated Renewable Energy Project (IREP) in Andhra Pradesh at an investment of INR 150 billion (US$2.2 billion). Recently approved by the Andhra Pradesh government, the project will comprise 1,000 MW of solar energy, 550 MW of wind energy and 1,200 MW of standalone pumped storage capacities. It is expected to provide employment to 15,000 people during construction and 3,000 people after construction.

While Africa has emerged as a dynamic, fast-moving hub, Asia leads in capacity deployment with its total capacity more than tripling to nearly 4.3 GW in 2017 from 1.3 GW in 2008, finds IRENA. Particularly, in India, a strong policy has pushed deployment of off-grid solar for agriculture and public end-uses.

The two-year period of the recommended safeguard duty is very short, discouraging any investment in setting up new solar manufacturing capacity, say analysts and companies pv magazine spoke to. At the same time, for solar project developers, the duty will impact tariffs to the tune of 12-15%, posing an immediate threat to viability of projects under execution, they add.

Dr Rashi Gupta, Director at Vision Mechatronics discusses the EV landscape in India, particularly focusing on the potential for battery manufacturing. While there are currently many challenges, like a lack of raw materials and infrastructure, the opportunities are immense.