India

It was not a pretty year for solar finance, but some sectors remained unscathed.

U.S. tracker manufacturer NexTracker announced this week that it will partner with project developers CleanMax Solar to supply 30 MW of its NX Horizon single axis trackers to a project in Tamil Nadu, India.

With India’s rooftop market set to boom in 2017, the Faridabad Industries Association (FIA), which represents businesses in the Faridabad region of India, has requested an extension to the December 31st 2016 deadline to install rooftop solar on commercial and industrial units.

The yieldco’s first statement regarding its 2016 financials shows plenty of cash, but Global is remaining in the red overall.

IFC is picking up an equity stake in Hero Group’s renewable energy division, which it says will enable it to build 1 GW of solar and wind plants in India.

The Solar Energy Corporation of India (SECI) announced today that 2.3 GW of new solar projects will be tendered by the corporation shortly, while the Tamil Nadu Generation and Distribution Corporation (TENGEDCO) has just begun the tendering process for 500 MW of solar PV within the state.

A standout year for solar installation in India has seen solar PV increase its share of total electricity generated in the country and its share of the renewable energy generated in the country, which now stands at 13%, with this expected to dramatically rise again in 2017.

Project comprises three 50 MW solar plants commissioned with an average weighted tariff of US 8.5 cents/kWh.

The Solar Energy Corporation of India (SECI) has released a list of the winners for projects within the eagerly observed 500 MW rooftop auction, with prices falling to record lows, although full capacity details of the projects have not been included within the list.

Pace of Indian solar growth to accelerate this year as the nation is set to more than double 2016’s 4 GW capacity; however, headwinds regarding transmission and evacuation issues could slow expansion, Mercom says.