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According to an internal note sent by the Ministry of New and Renewable Energy MNRE to the Indian solar company SECI, the Ministry of New and Renewable Energy will set a cap on the price of Indian solar electricity for developers using domestic and imported solar cells and modules, namely 2.
5-2.
68 rupees/kWh (about 0.
24-0.
26 yuan/kWh)
respectively.
In the August 24 letter, Dilip Nigam, an adviser to the National Solar Energy Scheme, suggested that the Solar Energy Corporation of India (SECI) must comply with "the maximum allowable tax rate, including safeguard duty, with a fixed cap of Rs 2.
68
.
" ”
The internal note also mentions that solar electricity prices will be reduced by Rs 0.
18 if
importers are found not paying import safeguard duty.
At the same time, all future solar tenders will need to reach 1,200 MW (uncapped), while the minimum offer size is 50 MW
.
The report comes after MNRE Minister Raj Kumar Singh reviewed India's state power company's tender for 2 GW of solar this month
.
In this round of tendering, the winning bidder was taxed between Rs 2.
59-2.
6 per kWh, inclusive of safeguard duty
.
Recently, some solar tenders in India have been cancelled
due to high tariffs.
In fact, earlier this month, SECI also cancelled the 300-megawatt solar tender granted to Adani Green Energy because of the relatively high
tax rate.
The recent 1 GW auction by the New Energy Development Agency (UPNEDA), Uttar Pradesh, India, was also cancelled as the lowest bids reached Rs 3.
48 per kWh, forcing SECI to cancel another 950 MW tender in July
.
In July, India's solar electricity price hit a record low of 2.
44 rupees/kWh on the Bhadla project
in Rajasthan.
On July 30, the government ordered a 25% safeguard duty on solar panels and modules imported from China and Malaysia to protect domestic manufacturers and encourage solar project developers to buy
locally.
However, in the face of increasing pressure from solar developers, the Indian government temporarily lifted this tariff policy
.
According to industry estimates, about 90% of the solar cells and modules used in India are imported from China and Malaysia
.
India, the world's third-largest energy consumer after the United States and China, has set an ambitious target of 100 GW of solar power by 2022, with a current capacity of around 24 GW
.
IN ITS LATEST REPORT, RATING AGENCIES, CRISIL, AN INDIAN CREDIT RATING INFORMATION SERVICE, PREDICTS THAT INDIA COULD ADD 56-58 GW OF SOLAR CAPACITY
OVER THE NEXT FOUR YEARS.
This article uses the real-time exchange rate of 1 RMB = 10.
3486 Indian rupees
According to an internal note sent by the Ministry of New and Renewable Energy MNRE to the Indian solar company SECI, the Ministry of New and Renewable Energy will set a cap on the price of Indian solar electricity for developers using domestic and imported solar cells and modules, namely 2.
5-2.
68 rupees/kWh (about 0.
24-0.
26 yuan/kWh)
respectively.
In the August 24 letter, Dilip Nigam, an adviser to the National Solar Energy Scheme, suggested that the Solar Energy Corporation of India (SECI) must comply with "the maximum allowable tax rate, including safeguard duty, with a fixed cap of Rs 2.
68
.
" ”
The internal note also mentions that solar electricity prices will be reduced by Rs 0.
18 if
importers are found not paying import safeguard duty.
At the same time, all future solar tenders will need to reach 1,200 MW (uncapped), while the minimum offer size is 50 MW
.
The report comes after MNRE Minister Raj Kumar Singh reviewed India's state power company's tender for 2 GW of solar this month
.
In this round of tendering, the winning bidder was taxed between Rs 2.
59-2.
6 per kWh, inclusive of safeguard duty
.
Recently, some solar tenders in India have been cancelled
due to high tariffs.
In fact, earlier this month, SECI also cancelled the 300-megawatt solar tender granted to Adani Green Energy because of the relatively high
tax rate.
The recent 1 GW auction by the New Energy Development Agency (UPNEDA), Uttar Pradesh, India, was also cancelled as the lowest bids reached Rs 3.
48 per kWh, forcing SECI to cancel another 950 MW tender in July
.
In July, India's solar electricity price hit a record low of 2.
44 rupees/kWh on the Bhadla project
in Rajasthan.
On July 30, the government ordered a 25% safeguard duty on solar panels and modules imported from China and Malaysia to protect domestic manufacturers and encourage solar project developers to buy
locally.
However, in the face of increasing pressure from solar developers, the Indian government temporarily lifted this tariff policy
.
According to industry estimates, about 90% of the solar cells and modules used in India are imported from China and Malaysia
.
India, the world's third-largest energy consumer after the United States and China, has set an ambitious target of 100 GW of solar power by 2022, with a current capacity of around 24 GW
.
IN ITS LATEST REPORT, RATING AGENCIES, CRISIL, AN INDIAN CREDIT RATING INFORMATION SERVICE, PREDICTS THAT INDIA COULD ADD 56-58 GW OF SOLAR CAPACITY
OVER THE NEXT FOUR YEARS.
This article uses the real-time exchange rate of 1 RMB = 10.
3486 Indian rupees
