Why solar is suddenly so sexy for Indian companies

In 2014, heavy machinery manufacturer Schwing Stetter put up a rooftop solar power system at its factory near Chennai in southern India. Operating out of a city that experiences frequent power outages, the company wanted to explore other sources of electricity and zeroed in on a 100 kilowatt (KW) rooftop solar system.

“At that time, the payback (time taken to recoup investment) was seven years. Today, our payback has come down to almost five years,” Anand Sundaresan, managing director of...

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