Government has set a target of achieving installed capacity of 100 GW of solar power by 2022
Of this , by end June
2017 , we have reached 15 GW , leaving a balance of 85 GW to be achieved by 2022
In simple terms , this would amount to installing 85 GW in next 60
months ( 1.4 GW / month
)
During second
quarter ( June / July / Aug ) , only 2,505 MW of capacity was auctioned ( against tenders for 3,408 MW )
During third
quarter ( Sept / Oct / Nov ) , only 1,232 MW of capacity was auctioned ( against tenders for 1,456 MW )
{ Source : Mercom
Capital / Times of India / 14
Dec }
So , in past 6
months , we auctioned 3,737 MW ( 3.7 GW ) of solar power capacity ( against tenders
for 4,864 MW - no idea how much got “ installed / commissioned ! )
Whereas , to reach that 85 GW in 60 months , we
should have “ installed “ , 8.5
GW in 6 months !
This trend is ominous !
But I believe , worst is in store !
Installing 1.5
GW per month requires a capital of $ 1.5 Billion ( Rs 10,000
Crore ) per month
Private sector just does not have, either that kind of funds , or that kind of “ Risk Appetite “
And with all the accumulated NPAs , banks are unlikely to fund ANY business
venture , where its “ Selling Prices “ are dropping at 19 % per year !
And where , State Discoms are renegading on already signed
Power Purchase Agreements , and demanding renegotiation on lower prices !
( Read :
To know , what is the ONLY WAY OUT , read :
I hope it is not
too late to copy the Indonesian
Experiment !
14 Dec 2017
www.hemenparekh.in
/ blogs
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