The Ministry of New and Renewable Energy (MNRE) has postponed the 3rd Global Renewable Energy Investors’ Meet & Expo (3rd RE-INVEST), citing “some unavoidable reasons”. The meet was to be held in New Delhi between October 30 and November 2.
MNRE Secretary Anand Kumar said in a letter that “fresh dates are being worked out in consultation with all stakeholders and (they) shall be informed shortly.”
‘RE-INVEST’ is a global renewable energy investor meet organised by the government of India. It may be remembered that the second edition of the meet, originally scheduled to be held on February 2016, finally happened in October 2018, after getting postponed not less than five times.
To watchers of the Indian renewable energy sector, this postponement comes as no surprise — in fact, it was more or less expected, given the poor performance of the sector in recent times. Due to a host of reasons, not the least of which is the tariff cap above which energy companies cannot quote in their bids, wind and solar tenders floated by the government-owned SECI have been consistently under-subscribed, showing poor investor interest in the sector.
Wind and solar companies are facing a host of problems such as tariff caps set at unviable levels, land issues (especially in the wind-rich Gujarat), re-negotiation of signed-and-sealed agreements in Andhra Pradesh that raises a fear that other States could follow and issues in linking up their projects to the grid to evacuate power.
The most recent was a SECI tender of last month for 1,800 MW of wind power projects, which attracted bids for 551 MW. Earlier that month, a SECI solar tender for
News Source: The Hindu Business Line