Investing in India’s solar market: recommendations

27-04-2020

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With its high solar irradiation, growing economy and the positive response of its government towards renewable energy, India has managed to position itself as one of the most promising markets in the solar sector. Yet some investors are still reluctant to invest in solar projects in India because of its financial, technical and administrative environment. In an attempt to address this issue, SolarPower Europe‘s Emerging Markets Task Force wrote a report on India’s solar investment opportunities and formulated some recommendations for the stakeholders of the solar industry.

The first part of the report provides an overview of India’s social, economic, political and energy contexts. Energy stakeholders and issues linked to the current system and policies are in the meantime presented and analysed. The second section focusses on India’s electricity market and outlines the current electricity infrastructure, regulatory framework, tariffs and new developments made for solar power. The report concludes with some recommendations towards investors, policymakers, local private stakeholders and development finance institutions, by highlighting several key financial, technical and administrative challenges.

SolarPower Europe’s Emerging Markets Task Force aims to contribute to energy transitions around the world by identifying business and cooperation opportunities in emerging markets outside of Europe. As a member, 3E is proud to have participated in the writing of this report that was published in collaboration with the National Solar Energy Federation of India (NSEFI).

The PDF report can be downloaded HERE.

India: Solar Investment Opportunities was released on the 4th of March at the European Union Pavilion during the Smart Utility Week in New Delhi, in the context of the EU-India Clean Energy and Climate Partnership. As contributor to the report and Country Manager for 3E in India, Kelly Mermuys was of course present at the event where she also shared best practices for Operations & Maintenance of solar parks in India.

Next step: further developing the O&M Best Practice Guidelines adapted to the Indian context, together with SolarPower Europe!

(Picture: Kelly Mermuys with representatives of SolarPower Europe, the Indo-German Energy Forum Support Office and the National Solar Energy Federation of India on 4 March at the India Smart Utility Week in New Delhi)