Schedule a Call Back
A recent report from Mercom Capital Group has observed India
added 205 megawatts (MW) of solar capacity in Q2 2020, an 81 per cent decline
compared to 1090 MW installed in Q1 2020.
Solar installations were down by 86 per cent year-over-year when compared to 1,510 MW added in Q2 2019. Q2 2020 recorded the lowest number in terms of quarterly solar installations since Q3 2014, which saw 197 MW of capacity additions.
Solar installations in the first half of 2020 were 1.3
gigawatts (GW), a 59 per cent decrease compared to 3.2 GW of capacity added in
1H of 2019.
Large-scale installations during the quarter were 120 MW
compared to 896 MW installed in Q1 2020. Compared to the same quarter in 2019,
large-scale installations decreased by about 90 per cent. However, there are
currently 41.7 GW of large-scale projects under development, giving the
industry a glimmer of hope for recovery. There are also another 32.4 GW of
projects tendered and awaiting auction.
There were about 85 MW of rooftop solar installations, a
decline of 56 per cent compared to 194 MW installed in the last quarter.
Rooftop installations declined by 71 per cent compared to Q2 2019.
Mercom India Research
is forecasting approximately 4 GW of solar to be added in 2020, which was the
worst-case scenario laid out in out the previous report.
Overall power
capacity additions across power generation sources in the first half of 2020
stood at 2.3 GW. Renewable-based sources accounted for nearly 85 per cent of
these installations.
Even during the downturn, almost 70 per cent of the new power capacity additions came from solar and wind in the first half of the year, which is a positive takeaway from the report.
Key Highlights:
-
Solar
installations in India in Q2 2020 are 205 MW, a decline of 81 per cent compared
to 1,090 MW installed in Q1 2020.
-
In
Q2 2020, large-scale solar installations added up to 120 MW, while rooftop
installations accounted for 85 MW
-
Cumulative
solar installed capacity in India was approximately 37 GW at the end of Q2 2020
-
The
large-scale solar project pipeline in India stands at 42 GW, with another 34 GW
of tendered capacity pending auction at the end of Q2 2020
-
In
Q2 2020, investments in the India solar sector equalled $100 million (~Rs 7.5
billion), 90 per cent lower compared to Q1 2020
-
Solar
accounted for 56 per cent of the new power capacity added in 1H 2020
The hub will be a crucial element in Kenya’s grid for ensuring stable, efficient and reliable operations in view of variable renewable energy sources getting added and the high-voltage regional in..
Read moreThe United Grinding Group intends to acquire the GF Machining Solutions Division (GFMS) of Georg Fischer AG (GF), Schaffhausen (Switzerland).
Read moreAequs Infra is excited about the potential of the FMCG Ecosystem considering manufacturers in a radius of 400 kilometres of its location account for more than 35% of the market share in India.
Read morePOM Systems & Services Pvt Ltd offers a wide range of
PCS power conversion systems energy storage.
Transparent Energy Systems Private Limited offers a wide range of Hot water generators - Aquawarm Superplus.
Fluid Power Machines offers hydraulic scrap baling press. Read more
INDUSTRIAL PRODUCTS FINDER (IPF) is India’s only industrial product portal. Referred to as the ‘Bible’ of the manufacturing sector in India,
INDUSTRIAL PRODUCTS FINDER (IPF) is India’s only industrial product portal. Referred to as the ‘Bible’ of the manufacturing sector in India,
Hi There!
Now get regular updates from IPF Magazine on WhatsApp!
Click on link below, message us with a simple hi, and SAVE our number
You will have subscribed to our Industrial News on Whatsapp! Enjoy
Schedule a Call Back