Friday, June 24, 2022

India’s cumulative installed solar capacity now stands at 52 GW

The said that tender activity for solar projects in Q1 2022 declined by about 18 percent q-o-q from nearly 6 GW in Q4 2021

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New Delhi: The country has a utility-scale projects development pipeline of over 54 GW. Another 33 GW of projects tendered are awaiting auction. “…A little push from the government can help India surpass the 60 GW large-scale solar installation target set for 2022, which will be a great achievement,” said Raj Prabhu, CEO of Mercom Capital Group.

Rajasthan became the first state to cross 10 GW of cumulative large-scale solar PV installations, with over 10 GW installed as of March 2022, and accounts for 24 per cent of the total installations in the country.

In Q1 2022, Rajasthan and Gujarat were the top states for solar, accounting for 52 per cent and 18 per cent of installations, respectively, followed by Karnataka (6 per cent).

The report further said that tender activity for solar projects in Q1 2022 declined by about 18 percent q-o-q from nearly 6 GW in Q4 2021.

“With BCD (basic customs duty) applicable from April 1, 2022, on solar cells (25 per cent) and modules (40 per cent), the January-March quarter saw a significant increase in imports of the components,” it said.

In Q1 2022, developers procured almost 10 GW of solar modules and stockpiled them ahead of the advent of BCD, which took effect on April 1, as they wanted to avoid paying the additional duty and claim the amount later due to the cumbersome regulatory process.

A subsidiary of US-based Mercom Capital Group, Mercom Communications India is a clean energy research and communications firm with expertise in cleantech markets.

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