Nearly 19 GW of renewable energy capacity tendered by state body the Solar Energy Corporation of India is on hold due to electric distribution companies’ unwillingness to sign the power purchase agreements. Manufacturing-linked solar projects alone account for a 63% share of the capacity in limbo.
Delays in signing power purchase agreements are halting the growth of Indian renewables, jeopardizing the government’s clean power target of reaching 175 GW by next year, and the nuclear option of renegotiating electricity tariffs might be needed to drive clean power deployment.
That potential, last-resort remedy to get projects moving was among the suggestions made in a briefing note issued by U.S. thinktank the Institute for Energy Economics and Financial Analysis and Haryana-based consultancy JMK Research.
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