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Latest record-low bids underscore solar's vast commercial viability: IEEFA India
by Debapriya Mondal
Economic Times - ET EnergyWorld Translate This Article
11 February 2017
On 11 February 2017 Economic Times - ET EnergyWorld reported:
The record low bids for solar power projects in India may not be a threat to the sector after all. According to a report by Institute of Energy Economics and Financial Analysis (IEEFA), these bids are not only commercially viable, they are replicable and sustainable as well. 'This trend is not occurring in a policy vacuum. India's new draft National Electricity Plan, released in December, calls for a fivefold expansion to 258 Gigawatt of renewable capacity by 2027, an expansion that would reduce thermal power capacity share to 43 per cent of India's total from 66 per cent today,' the report said. It added that the solar-auction results mean this target just got substantially easier and more cost effective to implement. 'Costs per unit of power to purchase are tumbling, and - of critical importance - it can now be shown that these prices are not only commercially viable but are likely to be beaten again in 2018, and again in 2019 as total solar costs continue to decline globally at a rate of 10 percent annually,' IEEFA said.
Global Good News service views this news as a sign of rising positivity in the field of business, documenting the growth of life-supporting, evolutionary trends.
The clear conclusion in the government's electricity-development plan is that India need not build any new coal-fired power capacity over the next decade.
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