19 Mar '13, 1pm

India Set to Auction More Solar Capacity than Planned this Year

India Set to Auction More Solar Capacity than Planned this Year

The government will tender 750 megawatts of capacity in the first week of May, kicking off the second phase of its National Solar Mission, said Tarun Kapoor, joint secretary at the New and Renewable Energy Ministry. India expects to auction more than the 1,650 megawatts targeted for the year through March 2014. The South Asian nation, where power cuts shave an estimated 1.2 percentage points off annual economic growth, has published draft legislation that would enable the solar industry to get direct grants covering as much as 40 percent of upfront construction costs, a model previously used to build roads, ports, railways and fossil-fuel power plants in India. The ministry plans to auction solar capacity in as many as five lots starting in May, Kapoor said today by telephone. It’s putting together guidelines for the second phase, he said. Some solar ventures in India have...

Full article: http://www.renewableenergyworld.com/rea/news/article/2013...

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