India has been a bright spot for solar and wind growth, driven by government policies and ambitious targets. But new projects have stalled.
The background: India had aimed to install 175 gigawatts of renewable generation by 2022. But the Mumbai rating agency CRISIL now predicts the country is going to miss those goals, coming up more than 40% short.
What’s happening? One state simply stopped paying developers in a strong-arm effort to force them to slash rates. Meanwhile, state-owned distribution companies have pushed down prices for proposed projects to the point where they’re often not financially viable. These have chilled investment, and stalled projects.
—James Temple
No comments:
Post a Comment