Mercom Capital

Total corporate funding across the global solar industry reached $3.2bn in the first quarter of the year, which is a 100% increase on Q4 2016. This rise is largely due to increased debt financing activity, said Mercom Capital Group CEO Raj Prabhu.

The Indian independent power producer takes a giant step in building up its presence in the Indian state of Karnataka with a 130 MW project.

National Thermal Power Corporation addresses concerns regarding infrastructure issues at the Pavagada Solar Park in the retendering of five, 50 MW blocks of capacity.

Price of INR 3.30/kWh recorded at Rewa Solar Park auction in Madhya Pradesh among lowest in the world, and marks continuation of downward trend. Many factors played a role in bringing down the price in this particular auction, says Mercom Capital Group.

Government enterprise Central Electronics Limited (CEL) is tendering the new rooftop capacity using the RESCO model for projects nationwide, with bidders given until March to apply, according to market analyst Mercom Capital.

Mercom Capital says the fall in rates is now making projects with lower prices viable, and that demonetization could further bring down rates.

The nation saw substantial debt, public markets and project funding during the final quarter of 2016, including the first Indian solar developer to go public.

The PV Market Alliance has released its official solar installation figures for 2016, which, with a total of 75 GW installed, show a 50% growth from 2015, mainly driven by a mammoth year of installations in China, although the future would seem less auspicious as the two biggest markets show signs of retraction.

With 25 of India’s states falling behind on Renewable Purchase Obligation targets, the country’s Ministry of New and Renewable Energy (MNRE) is now requesting that the individual states take action to ensure compliance.

The Indian group’s solar portfolio has swelled by roughly 930 MW over the past 10 months, largely on the back of its $1.45 billion acquisition of Welspun Group’s 1.15 GW clean energy business last spring.