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Alleged Increase in imported photovoltaic solar module price will moderate the returns for projects awarded over the last six to nine-month period, rating agency ICRA. The recent surge in metal prices is also leading to upward pressure on the overall capital cost for solar power projects.
Hardening of imported photovoltaic solar module price will moderate the returns for projects awarded over the last six to nine-month period, rating agency ICRA. The recent surge in metal prices is also leading to upward pressure on the overall capital cost for solar power projects.
Given the import dependency for PV modules for a majority of the solar power installations in India, such hardening in the price of PV modules, if sustained, remains a near-term headwind, the agency noted.
This risk is especially significant for the capacity won by developers through the bidding route over the last six to nine months (amounting to 4-GW at tariffs ranging largely between Rs 2.00 per unit and 2.25 per unit and scheduled to be commissioned over the next 12-15-month period, it stated.
This apart, the recent surge in metal prices is also leading to upward pressure on the overall capital cost for solar power projects.
The impact of the basic customs duty (BCD) on imported PV modules, is likely to result in the overall bid tariff increasing by about 55-60 paise/unit for the forthcoming auctions. Nonetheless, the solar bid tariff, after factoring in this dual impact, is still likely to remain below Rs 3/unit.
As the BCD notification for cells and modules is effective from April 2022 onwards, there remains a possibility for the surge in demand for imported modules, particularly in the fourth quarter of the current fiscal in turn, supporting the elevated price levels for PV modules.
