India to reach 20 GW of installed solar capacity by this fiscal end

BRIDGE TO INDIA, a leading consulting and knowledge services provider in the Indian cleantech market, recently announced that India’s total installed solar capacity has grown by over 84% in the last four quarters, in their September edition of India Solar Map 2017. Out of the 7.5 GW capacity added in this period, 57% has come from three southern states – Telangana, Karnataka and Andhra Pradesh. Telangana now ranks number one for commissioned capacity followed by Rajasthan and Andhra Pradesh.

Speaking on the launch of the map, Vinay Rustagi, Managing Director, BRIDGE TO INDIAsaid“It is a curious time for solar sector in India. We are coming off a period of exceptional growth of over 80% over last 3 years. But the future looks more subdued – demand for solar power is slowing down when tariffs have fallen to a low of INR 2.42/ kWh level making solar power the cheapest new source of power in India. Utility scale solar capacity addition is expected to slow down to about 5 GW per annum. Consequently, we expect investors to shift their attention to the secondary market, where some large M&A transactions are in the pipeline.”

The report highlights that, Greenko and ReNew Power have once again retained the top developers position on the basis of capacity commissioned during last four quarters with Acme moving up to the third position. Seven project developers in India now have a portfolio greater than 1 GW (both commissioned and pipeline projects).

Trina Solar (16.6% market share), JA Solar (9.2%) and Canadian Solar (8.7%) are the top three module suppliers with all of them gaining significant market share over last year. On the domestic manufacturing side, Waaree was the biggest manufacturer last year, followed by Vikram Solar and Tata Power Solar. There has been a marginal increase in the market share of Indian manufacturers but the Chinese suppliers continue to hold over 80% of the total market share.

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