Foreign and domestic investment in India's renewable energy sector has fallen, with 200 bidders for solar projects in 2015 dropping to around 30 during H1 2019, according to energy consultancy Bridge to India. It also revealed subscription multiples in concluded auctions had slumped to 1.09 from 2.24 last year. Developers blamed the dwindling interest on recent events in Andhra Pradesh, where the Seci government cancelled power purchase agreements signed under the previous administration, as well as payment delays by state-owned power distribution companies.
Foreign and domestic investment in India's renewable energy sector has fallen, with 200 bidders for solar projects in 2015 dropping to around 30 during H1 2019, according to energy consultancy Bridge to India. It also revealed subscription multiples in concluded auctions had slumped to 1.09 from 2.24 last year. Developers blamed the dwindling interest on recent events in Andhra Pradesh, where the YS Jaganmohan Reddy government cancelled power purchase agreements signed under the previous administration, as well as payment delays by state-owned power distribution companies.