Cheap Chinese solar and wind power equipment a threat to Indian missions
Domestic solar and wind power players want government’s intervention and control over large unregulated influx of Chinese solar and wind power equipment. They feel most of these are manufactured with sub-standard materials and could potentially endanger Indian solar and wind missions. The PHD Chamber of Commerce on behalf of domestic players issued a statement with the intention of forewarning Indian banks against excessive funding of such sub-standard imports. Banks funding such projects face a higher risk of misappropriation it said. Chairman and managing director, Indian Renewable Energy Development Agency ( IREDA) K S Popli said, “Large banks in India are perhaps reluctant to fund solar and wind projects due to large scale usage of Chinese products though no developers in these two segments have defaulted on re-payment. Some have, however, delayed their pay-off schedule.” Chief executive at Punjab Energy Development Agency, Amarpal Singh demanded intervention of the centre to check rapid rising Chinese imports of solar and wind panels including various other equipment because their quality is suspect and cannot sustain solar and wind power generation beyond five years. Banks especially, the public sector ones are to have 70 per cent exposure in solar and wind panels. Chinese products put their investment at risk. Therefore, banks should use their prowess and pressurize the government for restricting Chinese so that the Indian solar and wind mission takes off without any possible disruption”, said Singh.