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Indian solar companies at edge as Chinese vendor companies exit deals

Leading solar module suppliers from China including longi solar and jinkosolar are backing out of signing contracts with Indian power developers citing rising community prices said people aware of the matter. The contracts for solar modules were mostly signed last September with delivery scheduled for March but the vendors have exciting agreements since January. With suppliers seeking revised terms, companies such as Renew power, Adani green, SB energy Avada, Azure, Acme,O2 power and green core among others are staring at disruptions to project timelines. As much as 80% of component supplies come from China. With record low beds any cost-push would make several projects non viable, as stated by industry executives. Solar modules account for around 60% of renewable energy of companies capital expenditure.

Source: Economic Times

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