India's push for solar power hits obstacles
Local developers say that foreign investors are undercutting them with unrealistically low rates
New Delhi
INDIA's solar developers are voicing concern that foreign investors are promising to supply clean power at rates that are unrealistically low, threatening to destabilise the industry.
Companies such as SkyPower Global of Toronto have undercut Indian companies in recent auctions for contracts to build solar power plants. Local rivals including Azure Power and CLP India Pvt said that their competitors may never be able to build the capacity that they promise.
The dispute is a test for Prime Minister Narendra Modi's effort to draw in as much as US$100 billion for solar power, reducing emissions from plants fired by fossil fuels and the greenhou…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Oil falls over US$1 as demand worries outweigh Middle East supply risks
Liberalise South-east Asia’s energy sector to attract more private finance: BlackRock official
First Resources denies allegations of links to firms clearing forests in Indonesia
Asian gas prices surge near highest this year amid conflict risk
Gold steady as geopolitical risks counter higher Treasury yields
Oil prices flat as economic headwinds counter Mideast supply fears