Monday, October 14, 2013: We had earlier reported that Welspun Energy will commission the world’s second-largest solar power plant along with two more projects by December this year. In a related news, the managing director of the firm has shared that it will be investing an additional $1.6 billion in new projects over three years.
Welspun’s 151 MW plant located in the central Indian state of Madhya Pradesh will reportedly help it gain a bigger share of the renewable energy market, which is expected to double by 2017.
Those in the renewable energy sector are still better off than their thermal power peers, who seem to struggle with the coal and gas shortages and fuel transport hassles. But the sector still faces problems including in acquiring land for projects, a creaky transmission network and state distribution companies that are often too broke to buy power, reports Business Spectator.
Vineet Mittal told Reuters, “Banks should create a separate sector lending cap for renewable energy to avoid it being lumped together with lending to thermal power projects. The risk-reward here is totally separate than a conventional power plant, so it has to be looked at differently. I think the government is consciously trying to do something, but it’s still not very effective, so availability of the funding is very, very critical.”
