In a release, the bank said it made an announcement for “mobilising USD 1 billion till 2023 and USD 5 billion till 2030 towards financing solar energy projects in India”.
The Baynouna Solar Energy Company (BSEC) is a Masdar-led project to develop Jordan’s largest solar power plant on behalf of the state utility National Electric Power Company.
Bloomberg New Energy Finance (BNEF) is forecasting global PV demand in 2018 to be at 107GW, up from its estimate of 98GW in 2017. However, BNEF has given the largest single market China a wide installation range after its massive underestimation last year.
The National Solar Mission may have set a target of 20 million m2 (metre square) solar thermal capacity with ‘Make in India’ panels, but the government’s proposed incentives package has left this segment of the domestic solar industry out in the cold even though it is getting swamped by cheaper Chinese imports.
Most of India’s energy comes from fossil-fuel-powered thermal power plants that rely on freshwater for cooling.