India delays solar auction for second time

India has pushed back its national auction for 750MW of solar power for the second time, reports claim. The deadline for the submission of solar project proposals has now been […]

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By Priyanka Shrestha

India has pushed back its national auction for 750MW of solar power for the second time, reports claim.

The deadline for the submission of solar project proposals has now been moved from 28th December to 20th January. It had been delayed previously amid fears the nation’s utility companies lack the funds to pay for it.

The Ministry of New and Renewable Energy offered around Rs 18.75 billion (£190m) in grants for the projects in October last year.

The auction is part of the second phase of India’s National Solar Mission, which aims to install 20GW of solar power by 2022. Developers will submit bids specifying the funds they need and the lowest bidders will win.