Blogs
Time for a big-bang financing solution
13 March 2015 | Vinay Rustagi
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...
After much hype, central allocations to take a back seat for a while
10 March 2015 | BRIDGE TO INDIA
Over the past several months, we had the impression that central government-led allocations would be the preference of the new government and that the role of the states would be limited to setting up the infrastructure of solar parks and procuring solar power. The central government would make that power cheaper for the state utilities either through bundling it with coal power or through...
Will the shining solar knight topple “King Coal” in India?
04 March 2015 | Tobias Engelmeier
Around 70% of India’s power comes from coal, less than 1% from solar. Will that change in the next 20 years? Can solar become the new backbone of the Indian electricity system? There is a good possibility that it will. Let’s look at some key drivers. India is just beginning to build the energy infrastructure it needs Solar is practically unlimited and cost trends are strongly in its...
A status quo budget for renewables; nowhere close to expectations
03 March 2015 | Jasmeet Khurana
Most sections of the overall Indian industry have labeled the budget presented on Saturday (28th February 2015) as an incremental progress in the right direction and not a ‘big-bang’ or reformist budget (the yardstick being the 1991 budget). While infrastructure has received its due attention, unfortunately, for the solar industry, incremental progress just doesn’t add up to the new and...
Not a dream budget for solar (a 3 out of 10)
02 March 2015 | Tobias Engelmeier
On the 28th of February, India’s finance minister has presented the widely anticipated first full budget of the new Modi government. After all the fanfare around growing the Indian solar market including at the recent RE-INVEST, the industry was expecting if not real boost to the sector, at least a clear directional step towards creating a sustainable and fast growing solar market. This...
Back to the past: The AAP’s demand for cheap coal power for Delhi is unrealistic and wrong-headed
27 February 2015 | Tobias Engelmeier
This is Arvind Kejriwal’s plan to provide power to Delhi: He has asked the government to supply a coal block for a new ultra mega power plant. This plant would then be operated by a private company and would sell cheap and reliable power to Delhi. What a nice thought! Except, we don’t live in fairyland. Better idea: let power prices be determined by the market and give Delhi a workable...
Mr. Modi, where is India’s solar rocket?
25 February 2015 | Tobias Engelmeier
India can build excellent rockets. Last September, it successfully sent a space mission to Mars – and that, too, at a slim $74 million. Now, India’s government is again reaching for the stars. Actually, it is reaching out for a specific one, the sun. Mr. Modi has announced that India wants to build 100 GW of solar power in five years. That is nothing short of spectacular. Only, we have no...
Punjab opens bids for phase two of the state allocations
24 February 2015 | BRIDGE TO INDIA
Punjab had floated a tender in December 2014 (refer) for the second phase of allocations in the state for 250 MW of solar PV projects. The state received eligible bids for over 300 MW (our estimate 344 MW) but details have not yet been...
How to make money in the Indian solar market
18 February 2015 | Tobias Engelmeier
India has 3+ GW of solar installed. On the basis of that, in the last years, the country has built a broad ecosystem of manufacturers, installers, project developers and financiers. This sounds like a healthy launch pad for a big jump in capacity addition (perhaps even to an incredible 100 GW) – but it isn’t. Very few players in the market so far have made a good return. A common concern in...
Much fanfare and interest, but few specifics at RE INVEST
18 February 2015 | BRIDGE TO INDIA
On Sunday (15th February 2015), India’s first government organised renewable energy investment summit got underway. Prime Minister Narendra Modi inaugurated the event at Vigyan Bhawan, New Delhi, in the presence of Indian and global industry stakeholders. Minister for New and Renewable Energy, Piyush Goyal, called it a ‘historic day’ that will pave the way for making India the...
Default over Design: How India will really grow its solar industry
18 February 2015 | Tobias Engelmeier
Can India achieve 100 GW of solar in five years? Technically: yes – if politicians are willing to put enough support behind it. Realistically: not likely – there is still no strategy in place for achieving this number. Does that matter? No. As solar becomes ever more viable and India’s energy demand rises rapidly, the mountain will come to the prophet. However, it will be a market by...
166 GW of solar investment interest in India in the coming years
10 February 2015 | BRIDGE TO INDIA
In the build-up to the government-sponsored renewable energy investment summit, RE-INVEST 2015 (refer), the organizers asked participating companies to provide non-binding investment indications for the Indian renewable market. The results show a general willingness to set up a whopping 166 GW of solar power generation capacity...
