The State Energy and Water Regulatory Commission lowered tariffs for large roof installations by 35% and for ground-mounted solar parks by 28%, reported Reuters. The government had earlier brought down rates by 50% in June 2012.
The recent announcement has drawn sharp criticism from investors who believe that the declining rates will discourage any future investment; the investors are looking to lodge an appeal against the cut.
Several investors including US-based AES Corp, Russian Lukoil, South Korea-based SDN, and Saudi Arabia’s ACWA Power besides several others had invested in the Balkan country’s solar industry to take advantage of the country’s 20-year guaranteed tariffs legislation.
According to industry sources, the total installed capacity has surged to 700MW at the end of August 2012, compared to 134MW at the beginning of the year.
