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In recent years, India is in full swing to develop solar energy. As a result, the industry has kept lowering the guaranteed electricity price in order to win the bidding, resulting in the price falling to the bottom. The industry is concerned about this, India's solar industry has been facing a bubble warning.
Rajasthan, northern India intends to build a large-scale solar farm, bidding in May attracted more than 20 developers bidding, reflecting the fierce competition. However, after up to 30 hours of fatigue bidding, the final result surprised the industry as the price finally hit the lowest level of global solar power generation.
The successful bidder is Acme Solar, a Indian solar developer, and SBG Cleantech, a joint venture shareholder including Softbank. They said they will build the 500MW solar farm and guarantee a final price of Rs 2.44 (about Rmb0.25) per kWh.
Despite India's ambitious goal of developing solar energy, are people in the industry worried about the success of building solar energy programs at such a low cost?
Market participants warned that overly optimistic expectations have flooded India's solar developers so they do not see any potential risk. If the Indian solar plan financial tight or even closed down, the global solar energy industry will continue to increase the confidence hit.
