Norwegian independent power producer Scatec is looking to collaborate with project developers in India as part of efforts to gain a foothold in the country’s burgeoning solar sector.
Solar developers have welcomed clarification on India’s new import duties for modules and cells that will come into effect next year, but questions have been raised about the ability of domestic manufacturers to ramp up production to meet rising demand.
Scatec has unveiled a NOK 100 billion (US$11.7 billion) plan that will see the company expand its renewables portfolio to 15GW over the next four years.
Indian PV developer Adani Green Energy has raised a US$1.35 billion debt package to initially support the construction of a 1.69GW hybrid portfolio of solar and wind projects in the state of Rajasthan.
India will introduce a 40% basic customs duty on solar modules and 25% duty on cells as of April 2022 to cut the reliance on imports and expand the country’s PV manufacturing base.
Details of India’s proposed basic customs duty (BCD) on imported solar modules and cells are expected to be announced this week, according to a report in BusinessLine.
Independent power producer ReNew Power has agreed to go public through a merger with RMG Acquisition Corporation II, a US special purpose acquisition company (SPAC), in a deal that values the combined entity at US$8 billion
