Explore India's sizable solar potential with the July issue of the India Solar Compass
The India Solar Compass is BRIDGE TO INDIA’s quarterly market report on the Indian solar market. The current issue of the report analyzes the latest trends on financing in the market, the opportunity for developing solar projects with state utilities looking to meet their RPO obligations and the business models prevailing in the off-grid, rural electrification market.
The grid-connected capacity in India now stands at 37MW (all PV), which is only 13MW more than the installed capacity at the beginning of the year. The pace of projects moving towards construction in the country has remained slow. At the same time, the market has seen some significant developments in the area of financing, with banks looking at the industry more seriously. More state governments have formalized their solar policies, reaffirming a broader confidence in the sector. In order to reduce the payment default risks inherent in the PPAs with financially weak State Electricity Boards (SEBs), the federal government has approved a Payment Security Scheme worth INR4.86 billion (€81m) for projects under Phase 1 of the NSM. Very recently, a project under the Migration Scheme of the NSM secured non-recourse financing for 14 years, a landmark for the entire South Asian market.
In the latest issue of the India Solar Compass, we analyze these trends as developers and bankers work out solutions to improve the bankability of the solar projects in India.
The grid-connected capacity in India now stands at 37MW (all PV), which is only 13MW more than the installed capacity at the beginning of the year. The pace of projects moving towards construction in the country has remained slow. At the same time, the market has seen some significant developments in the area of financing, with banks looking at the industry more seriously. More state governments have formalized their solar policies, reaffirming a broader confidence in the sector. In order to reduce the payment default risks inherent in the PPAs with financially weak State Electricity Boards (SEBs), the federal government has approved a Payment Security Scheme worth INR4.86 billion (€81m) for projects under Phase 1 of the NSM. Very recently, a project under the Migration Scheme of the NSM secured non-recourse financing for 14 years, a landmark for the entire South Asian market.
In the latest issue of the India Solar Compass, we analyze these trends as developers and bankers work out solutions to improve the bankability of the solar projects in India.
