Solar project companies queue up to cash in on pre-duty benefits

For a project bid in March, import of panels would take place between June and July 2021

The Centre’s decision to impose basic Customs duty on imported solar cells and modules from April 2022 has put developers of solar power projects in a spot. Most of them are now lining up for tenders in order to import and start construction before the duty kicks in next year.

The latest tender by Gujarat Urja Vikas Nigam (GUVNL) for constructing 500 Mw of solar power project generated good response with leading players participating in it. This included state-owned NTPC and Coal India. The bidding closed on Monday at a tariff of Rs 2.20 per unit. This is the first auction