JSW Energy has said it will put its ambitious expansion plans on hold because of uncertainty in the Indian solar power sector. The company is also facing a slowdown in demand for electricity from India’s expanding middle class, which could lead to higher prices and lower profits. He added the imposition of a safeguard duty, as well as competition from private equity companies, which could bid at lower rates, were also behind the decision.
JSW Energy has said it will put its ambitious expansion plans on hold because of uncertainty in the Indian solar power sector. The COO of the panel manufacturer and installer, Sharad Mahendra, said it was not clear whether projects developed using government support and subsidies would be sustainable long term. He added the imposition of a safeguard duty, as well as competition from private equity companies, which could bid at lower rates, were also behind the decision.