Solar Power :
GigaWatt or GigaFlop ?
=========================
Government has set a target of achieving
installed capacity of 100 GW of solar
power by 2022
Of this , by end June 2017 , we have reached 15
GW , leaving a balance of 85 GW
to be achieved by 2022
In simple terms , this would amount to
installing 85 GW in next 60 months ( 1.4 GW /
month )
During second
quarter ( June / July / Aug ) , only 2,505
MW of capacity was auctioned (
against tenders for 3,408 MW )
During third
quarter ( Sept / Oct / Nov ) , only 1,232
MW of capacity was auctioned (
against tenders for 1,456 MW )
{ Source : Mercom Capital /
Times of India / 14 Dec }
So , in past 6 months , we auctioned 3,737 MW ( 3.7
GW ) of solar power capacity ( against tenders for 4,864 MW - no idea
how much got “ installed / commissioned ! )
Whereas , to reach that 85 GW in 60 months , we should have “
installed “ , 8.5 GW in 6 months !
This trend is ominous !
But I believe , worst is in store !
Installing 1.5
GW per month requires a capital of $ 1.5
Billion ( Rs 10,000 Crore ) per month
Private sector just does not have,
either that kind of funds , or that kind
of “ Risk Appetite “
And with all the accumulated NPAs , banks are unlikely to fund ANY business
venture , where its “ Selling Prices “ are dropping at 19 %
per year !
And where , State Discoms are renegading on already signed Power Purchase
Agreements , and demanding renegotiation on lower
prices !
To know , what is the ONLY WAY OUT , read :
I hope it is not too late to copy the Indonesian Experiment !
14 Dec 2017
www.hemenparekh.in
/ blogs
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