Indian government has tendered 26 GW of renewable energy says K S Popli, Chairman, Indian Renewable Energy Development Agency (IREDA). IREDA official further added that India is on the trail to attain 50 GW of energy production from renewable sources of energy.
“Efficiency of solar cell is going up and we will witness commercial production in the next few years and policies are being relooked,” added Popli.
Popli while underlining on the need for a payment security system recommended that there should be a tie-up between the financial institutions and the state governments to assist this payment security mechanism.
Upendra Tripathy, Director General of the International Solar Alliance (ISA) informed the audience that on November 26, representatives of 29 nations will gather in Uttar Pradesh and present their individual views on some vital issues related to solar panels and it’s pricing.Tripathy also highlighted that finance will continue to be a key barrier in the advancement and acceptance of renewable energy projects.
President of the India Energy Forum, Anil Razdan said that the current tendered bids have initiated a demand of up to 15-20 of low cost financing which will linger to be challenge for banks or financial institutions.
With the consolidation in the renewable energy market, interest margins of banks are shrinking at a rapid pace. That coupled with the risk linked with such projects make keeping the price low a challenge.
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