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2018 – A good year for solar sector !

2018 is off with a good start for the solar power sector in India. The Solar Energy Corporation of India (SECI) run by the central government has plans to execute 1,200 MW projects which include a 200 MW project in Karnataka, 275 MW in Uttar Pradesh and a 750MW project in Andhra Pradesh. The solar sector will see a total of 4,000 MW projects for 2018 and the dry spell faced by the sector in 2017 seems to be ending.

Tendering and auctioning has already begun from last year December and the SECI has gone ahead giving out approximately 3000 MW worth of projects to various contractors till the end of January 2018. Out of the 3000 MW, 1,300 MW belongs to the state of Maharashtra, 860 MW to Karnataka, and around 750 MW by the SECI themselves.

There are plans of a 5000 MW project for February and 6,000 MW project for March 2018 also.

Solar panel manufacturer in India have seen a cut in solar project last year since October. As of December 2017, India has just commissioned only 3000 MW of solar power projects for the year of 2018 as against the yearly target of 15,000 MW.

With the hope of a promising future for the renewal energy sector and the broader goal of commissioning of 60 GW or 1,000 MW by 2022, the ministry of new and renewable energy decided to make amends in November last year.

Solar panel Madules

As a part of our role in manufacturing high quality solar panel modules, Enkay Solar Power follows the developments on the solar sector very religiously and feels delighted to inform our prestigious clients and partners that the ministry has already introduced new norms for procuring solar power from solar farms through auctions. As per the norms the unilateral termination of power purchase was made much more transparent. This is to encourage investments and enhance the prospects of solar power sector with new bankable projects and increase profitability for investors.

Because of such norms, there is a quick rise in the auctions observes Ankur Agarwal, a senior analyst with India Ratings and Research. In addition to this, the analyst adds that the norms have brought clarity on the additional 10 GW project that the government aims to achieve in the next two to three years without proving to be a hurdle for the 60 GW solar project by 2022.

We also like to inform that India has already installed projects of 16.68 GW till 15th December, 2017 and another 6.5 GW were under construction by then. This information was given by RK Singh in the parliament on January 4, 2018. To boost the sales of local solar panel manufacturers in India, the government has come forward with the anti-dumping duty on imported solar panels. This provides new avenues for local solar panel manufacturers to come forward and set the wheels rolling for the Indian economy.

We look forward for the challenges with an open heart and with the promise of high quality products that would complement the future requirements of India.