VINAY RUSTAGI | 18 July 2018

The Directorate General of Trade Remedies (DGTR), Ministry of Commerce and Industry, has issued its final decision on the safeguard duty petition by domestic cell and module manufacturers. It has recommended a safeguard duty on imports of all cells a...

VINAY RUSTAGI | 02 July 2018

India has made tremendous progress in renewable energy in the last four years. Solar sector, in particular, has grown rapidly with India becoming the third largest international solar market after China and the USA. Both by total installed capacity a...

VINAY RUSTAGI | 12 January 2018

India’s Director General of Safeguards (DGS) has proposed a provisional duty of 70% for a period of 200 days on solar cells and modules. It has issued its recommendations in a preliminary report, completed within just a month of submission of the petition by five Indian manufacturers including Mundra Solar, Indosolar, Jupiter Solar, Websol Energy and Helios (formerly, Moser Baer). The duty is pr...

VINAY RUSTAGI | 30 August 2017

InvITs are infrastructure investment trusts set up pursuant to SEBI Regulations 2014 for investment in infrastructure projects. Money raised from InvITs is used to repay external debt and buy back equity investments in underlying project companies. Recently, IRB and Sterlite power successfully launched the first two InvITs for road and power transmission projects by raising INR 50.3 Bn (USD 775 mi...

VINAY RUSTAGI | 20 February 2017

The 750 MW Rewa solar project has seen tariffs fall to a record low of Rs 2.97/ kWh. Levellized tariff works out to Rs 3.29/ kWh, 24% below the previous low of Rs 4.34 seen in an NTPC tender in January 2016. Most of this fall can be attributed to lower equipment cost. Solar module prices, constituting about 60% of capital costs, have fallen by 26% in the last year. The Rewa auction makes solar PV...

VINAY RUSTAGI | 25 January 2017

India is expected to add new solar capacity of over 9 GW this year as against less than 1 GW just three years ago. The country should join the exclusive top three solar countries club alongside China and USA. There are an estimated 15 GW of projects already allocated and in different stages of development. Growing market has led to a burgeoning investment interest from Indian and international de...

VINAY RUSTAGI | 14 April 2015

A green bond is a green bond is a green bond – is that true?  Unfortunately, "green bond" is not a standard, well defined term.  Green bonds come in all shades of green, from the lightest tea green to the darkest ocean green, if you like.  A good way to evaluate the “greenness” of a bond is to see, if it makes a material difference to investment decision of the investor...

VINAY RUSTAGI | 13 March 2015

In view of the BJP government’s strong commitment to the solar sector and the much trumpeted 100 GW target, there was mighty anticipation about what the budget would bring by way of cheaper financing, tax incentives and other promotional measures to grow the sector. But the budget turned out to be bit of a damp squib and it is not clear how the government hopes to realise its solar vision with t...

VINAY RUSTAGI | 09 July 2014

The Ministry of Commerce has recommended anti-dumping duties (ADD) for solar cells and modules from the leading supplier countries. The final decision on their imposition is now awaited. Since then, the solar market in India has come to a standstill, with many projects and policies on hold. For more details, please download the latest edition of the India Solar Compass (July 2014) here. The impo...

VINAY RUSTAGI | 07 May 2014

I attended the GSES training programme on Standalone power supply systems in Delhi last week. The five-day training program was focused on technical and operational aspects of off-grid solar PV projects with a guided site visit to a standalone solar plant to give participants an informative tour of a typical PV with batteries installation. Participants included system integrators, MNRE channel p...

VINAY RUSTAGI | 31 December 2013

Weekly Update: Solar makes more sense than nuclear for India Recent reports indicated that India’s Department of Atomic Energy (DAE) is in an uncomfortable situation as the cost of power from its new nuclear power projects appears to be too high (refer). It has been reported that the cost per unit at the 9,900 MW Jaitapur Nuclear Power Plant is around INR 9 (EUR 0.11/ USD 0.15) per kWh. At the ...