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24-Apr2019

Domestic solar power capacity addition expected at around 7 GW to 7.5 GW in FY20: ICRA

Rating agency ICRA in its latest note has estimated 7-7.5 GW solar power capacity addition during the current financial year (FY20), which includes 1 GW of rooftop solar. The agency said it is based on tendering and awards of projects in the last 12-15 months. The agency mentioned, By contrast, solar capacity addition is estimated to have remained subdued at around 6 GW to 6.5 GW in the financial year  FY19 on account of weak trend in award of solar projects in the calender year (CY) 2017.

ICRA said tendered project awards for solar PV (photovoltaic) projects during CY 2018 stood at about 11 GW against 4.5 GW in CY 2017, providing a healthy pipeline for capacity addition over the next 2-year period. It also said nearly 56% of the capacity auctioned in 2018 has been accounted for by central agencies, such as Solar Energy Corporation of India and NTPC, with the balance by state nodal entities and discoms under various state-level programmes.

Apart from the projects awarded through the bid route, ICRA expects about 1 GW to be added through open access or group captive route and grid-connected rooftop, with these additions being facilitated by favourable solar policies for open access route in a few states.


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