Following multiple postponements for the bid submission dates for the forthcoming 10,000 MW manufacturing-linked solar auctions, the Solar Energy Corporation of India (SECI) has eased a few norms for firms potentially participating in the bids.
As per the new amendments, the amount of bank guarantee to be submitted by developers has been reduced by almost 25% to Rs 466 crore. The ceiling tariff for auctions has also been cut to Rs 2.75/unit, instead of the Rs 2.93/unit set earlier.
To boost solar manufacturing, the government had introduced the manufacturing-linked solar scheme, where developers would be provided with assured power purchase agreements (PPA) against the capacity of solar module manufacturing plant they set up in the country. As much as 3 GW of cumulative annual solar manufacturing units are seen to be set up over three years, resulting in 10 GW of new generating capacities.
The last date for accepting these bids is September 27.
Growth was currently at "a very high level", she said, but current risks, in particular protectionism, could erode the ongoing expansion.
Global GDP growth "remained solid" in the first half of 2018, at around 3.75 per cent, the OECD said, "but there are signs that the expansion may have now peaked".
The Paris-based body said it expected growth to settle at 3.7 per cent in 2018 and 2019 -- down 0.1 and 0.2 points respectively from its May projections.
Among the factors hurting growth are slowing trade expansion, which slipped from 5 per cent in 2017 to around 3 percent in the first half of 2018, the report said.
The drop comes as Trump's "America First" approach has brought trade conflicts with China, the world's second largest economy, while also raising the pressure on trading partners in Europe and North America.
Trump this week announced another USD 200 billion worth of goods for his latest volley in the stand-off with Beijing, threatening even more tariffs could be in the pipeline if China doesn't play ball.
The new measures add to the USD 50 billion worth of goods already targeted, taking the total to about half of China's exports to the US.
The OECD report warned that the trade tensions are leading to a rise in uncertainty that is hurting both advanced and emerging market economies.
"A further rise in trade tensions would have significant adverse effects on global investment, jobs and living standards," the report said.
The OECD pointed to strong job growth particularly in advanced economies, but also noted that "wage growth... remains moderate" -- leaving low-income households particularly vulnerable.
It also said that the tariffs are already having a palpable impact in some sectors.
In the US, "imports of washing machines, solar panels and steel and aluminium all began to decline in value terms in the first half of the year", the report said, adding that "US domestic prices have risen sharply in the affected sectors".
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Sembcorp Industries (Sembcorp) said Tuesday it has signed a long-term solar energy deal with US-based social media company Facebook. Under this deal, Sembcorp will provide renewable power to support Facebook’s recently announced 1,70,000 square metre Singapore data centre, as well as its other Singapore operations, over the next 20 years, a company statement said.
Sembcorp will serve Facebook’s renewable energy needs through offsite solar panels totalling 50 MWp in capacity. These panels will be installed on close to 900 rooftops in the island state, between the end of this year and 2020, it said. “Our deal with Facebook is an example of how Sembcorp is aligning its business to the future.
As our world moves towards renewables and lower-carbon energy, there is an increasing demand for solutions that enable businesses to achieve growth while managing their impact on the environment. “Sembcorp is actively working with companies in this, and supporting their efforts towards this dual objective,” Neil McGregor, Group President & CEO of Sembcorp Industries, said in a statement.
The company has been steadily growing its renewable energy business, and now has over 2,500 megawatt of wind and solar power projects across Singapore, China and India. Earlier this year, the Singapore-based company announced ambitious targets to double its renewables portfolio and reduce carbon intensity by around 25 per cent by 2022.