Difficulties in financing Indian solar projects with extremely low tariffs and the wobbling of major solar player SunEdison will not impact the long-term prospects of India’s PV market, according to two senior banking and finance representatives.
Domestic developers triumphed in Karnataka’s 500MW solar auction, maintaining the market’s fiercely competitive tariff levels with winning bids between INR4.78-4.8/kWh (US$0.072) for capacity in the Pavagada Solar Park in Tumkur District.
Canadian PV company SkyPower is searching for partners for its projects in India and will begin constructing them in Fall 2016 and has denied a report suggesting it could exit the country, according to Reuters.
Indian developer Mytrah energy has received a direct loan facility of up to US$175 million from the Asian Development Bank (ADB) to help fund the development of solar and wind projects in Mytrah’s pipeline.
