India’s cumulative installed solar capacity now sits at 81.8GW. Image: Gensol Solar Group
India’s energy sector is at a pivotal crossroads, reflective of a global narrative that pits the urgency of climate action against the inertia of established systems. The country’s pursuit of self-sufficiency in solar faces the headwinds of entrenched coal dependency and the fluctuating waves of international market forces. This juxtaposition forms the core of India’s energy paradox – the need for rapid industrial growth fuelled by coal, contrasted with the aspiration to lead in the renewables domain.
The plot thickens with the tale of solar auctions, where the number of bidders has remained relatively unchanged in recent years, signalling a steady, if cautious, interest from foreign investors. These developers, while enthusiastic about India’s solar potential, bid intermittently, indicative of a guarded strategy amidst the changing currents of international policies and market dynamics. The pattern of bidding tells a story of global players weighing the benefits of India’s solar market against the risks inherent in any transition of such scale.
(The above content is reproduced from pv-tech，By Ali Imran Naqvi, CEO of Gensol Group）
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