India Risks Spain’s Solar Slump With Move to Cut Tariff
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India’s biggest solar power-producing state is seeking to cut the subsidized rate it pays to plants by 28 percent, joining governments from Spain to Greece backtracking on clean-energy support to lower costs.
Gujarat Urja Vikas Nigam Ltd. is asking for permission to lower the average megawatt-hour price to 9,000 rupees ($150) from 12,540 rupees, according to a petition copy obtained by Bloomberg News and confirmed by Gujarat Electricity Regulatory Commission Chairman P.K. Mishra. The government-run bulk buyer of solar power in the western state signed 25-year contracts with 80 projects, comprising 857 megawatts of capacity, since 2010.