Skip to content
Subscriber Only

India’s SBI Warns Solar Tariff Cut Will Curtail Funding

State Bank of India, the nation’s biggest lender, is drafting a letter to a state regulator warning that a move to backtrack on contracts by reducing the price of solar power will curb investment.

The state buyer of solar power in Gujarat state is seeking approval to cut the rate paid to plants by 28 percent. The Gujarat Electricity Regulatory Commission is evaluating whether to accept the case. A decision is due next month.