2018 a sobering year for renewable energy in India
The number of new renewable energy projects and rock-bottom power tariffs impacted India's renewable energy sector in 2018
Mumbai: The renewable energy sector in India has had a sobering year in 2018 with the number of new projects slowing down and investors finding that the sector is generating both lower power and financial returns than they expected. A Crisil report in August projected solar installations in FY19 would fall to 7,400 megawatts (MW) from a decadal high of 9,363MW in FY18. The pipeline of projects has weakened as well, with the Solar Energy Corp. of India Ltd looking to cancel bids of 2,400MW this year as tariffs were above its expectations while aggressive bidding by some firms to build portfolios has started to squeeze returns.