Green power is all the rage; so why are some of them not finding buyers?

livemint.com:

SJVN Ltd. According to one of the three people cited above, older renewable projects, largely solar, have found it harder to find buyers. "For the projects which have come up in the past one year, the agreements have largely been signed," the person said on the condition of anonymity.

The pile-up of unsold power capacity comes at a time India has raised the target for tendering green power projects to 50 GW every year till FY28. On 15 August, Prime Minister Narendra Modi reaffirmed India's ambitious goal to achieve 500 GW of non-fossil-based energy capacity by 2030, up from about 197 GW now. Further delays in signing agreements could make power from older projects unattractive, as newer ones with lower tariffs keep coming online.

Queries sent to the Union ministry of new and renewable energy and SECI remained unanswered till press time. In the case of PPAs, the industry is awaiting to see the impact of uniform renewable energy tariffs on PPAs, which will price power in a standardized manner in a specific region. The new system, announced in October last year, envisages renewable power at uniform rates.

Every month, an implementing agency will set a uniform tariff for power from central pools. An intermediary, say SECI, will sell power from the central pool to all end procurers (discoms) at the uniform tariff. The system is aimed to encourage discoms to sign PSAs.