The trend of direct agreements with private sector project developers and state governments in India to set up large-scale solar power projects continues as Adani Enterprises has been selected to set up India’s largest solar energy park.

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Indian conglomerate Adani Enterprises has signed a memorandum of understanding (MoU) with the state government of Rajasthan to set up a 10 GW solar power park over the next 10 years. The first phase of the project will see 5 GW power capacity added during the next 5 years.

US steel plate dropped to $709.00 per short ton making it the biggest mover on the weekly Renewables MMI® this week, after drifting 4.1%. Korean steel plate prices held steady from the previous week at KRW 550,000 ($500.50) per metric ton. At JPY 80,000 ($675.13) per metric ton, the week finished with no movement for Japanese steel plate.

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Chinese renewables prices were flat for the week. Closing at CNY 224,000 ($35,834) per metric ton, Chinese cobalt cathodes remained unchanged for the week. Silicon remained essentially flat from the previous week at CNY 15,000 ($2,400) per metric ton. At CNY 395,000 ($63,189) per metric ton, the price of neodymium did not change since the previous week. Chinese steel plate traded sideways last week, hovering around CNY 2,660 ($425.53) per metric ton.

US grain-oriented electrical steel (GOES) held steady at $2,670 per metric ton.

The Renewables MMI® collects and weights 8 metal price points used extensively within the renewable energy industry to provide a unique view into renewable energy metal price trends. For more information on the Renewables MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.