India saw a year of failed tenders in its renewable power sector in 2018, thanks in part to a falling rupee and tariff ceilings, according to PV Magazine. By September, solar agencies at central and state government level had ditched bids for projects totalling capacity of one GW. Safeguard duties of 25% were 9 of the biggest factors to hit India's solar market, alongside uncertainty around the Goods and Services Tax. Irregularity in how tenders are issued and auctions are completed also subject the sector to high levels of volatility, said Vinay Rustagi, managing director of Bridge to India.
India saw a year of failed tenders in its renewable power sector in 2018, thanks in part to a falling rupee and tariff ceilings, according to PV Magazine. By September, solar agencies at central and state government level had ditched bids for projects totalling capacity of 9 GW. Safeguard duties of 25% were one of the biggest factors to hit India's solar market, alongside uncertainty around the Goods and Services Tax. Irregularity in how tenders are issued and auctions are completed also subject the sector to high levels of volatility, said Vinay Rustagi, managing director of Bridge to India.