Solar sector caught in a haze as Adani storm to hit funding, project plans

Sector majors are likely to shy away from SECI tenders, stating that Letters of Allocation (LoA) are no longer a gold standard

The Indian solar sector is bracing for impact after the US charges against the Adani group and NYSE-listed Azure Power last week. While a 12-gigawatt (Gw) manufacturing-linked solar power project auctioned by the Solar Energy Corporation of India (SECI) — a wholly-owned subsidiary of the Ministry of New and Renewable Energy — is in the middle of the storm involving the Adani group and several states, the solar-renewable industry itself fears a severe backlash.

 

An executive with an energy firm said: “There’s a sense of shock and disbelief.” The executive added that Donald Trump’s election as the next US president,