An infrastructure company owned by billionaire Enrique Razon is planning to build a solar-plus-storage plant in the Philippines that will feature 2.5 – 3.5GW of PV.
The Indian solar sector looks set for significant levels of disruptions over the next two years, with the government’s drive to establish a domestic manufacturing base risking deployment and investments needing to double if it is to meet its climate targets, according to industry analysts.
US conglomerate General Electric (GE) is looking to triple its solar and battery energy storage manufacturing capacity at its newly launched Renewable Hybrids factory in India by the end of 2022 to 9GW per annum.
REC Group is on track to reach 1.2GW of heterojunction (HJT) module production capacity in Singapore as it also progresses with the construction of a solar manufacturing plant in India.
With President Biden declaring a two-year freeze on new tariffs on solar imports from Southeast Asia, questions have been raised about the legality of the move as industry stakeholders assess the risk of it being challenged in court.
India has relaxed its rules surrounding the purchase of renewable power, with commercial and industrial consumers allowed to purchase clean power on voluntarily basis, while state distribution company (Discom) customers can demand to be supplied with renewable electricity.
India’s renewable capacity now stands at 109.9GW as of the end of March, with solar accounting for 53.4GW (47%), while another 72GW of solar is either in the pipeline or at bidding phase, according to JMK Research.
India’s solar sector is in a tricky place at the moment, with module price inflation, manufacturing incentives and geopolitical events causing disruption to the industry, pushing up average tariffs and lowering returns on solar investments. PV Tech Premium picks apart what is going on behind the scenes.
Module price increases, higher raw material costs and logistical challenges will pull down the return on equity (ROE) for 25GW of India solar projects, with 5GW of those at high risk given when they submitted their bids.
