India Added 2,110 MW Solar Power Capacity in Q2 ’21: BRIDGE TO INDIA

India added 2,110 MW solar power capacity in Q2 2021, according to the the Q2 2021 edition of its “India Solar Compass” report that was recently released by BRIDGE TO INDIA.

The report provides a detailed quarterly update of all key sector trends and developments – capacity addition, leading players, tender and policy issuance, equipment and EPC prices and policy framework – as well as outlook over the next two quarters.

Key highlights:

• India added 2,110 MW solar power capacity in Q2 2021, taking total installed capacity to 46,130 MW by 30 June 2021. Utility solar installations increased marginally over the previous quarter despite COVID-19 lockdowns across the country. We estimate pace of project construction to remain robust with about 4580 MW capacity to be added in the next six months.
• Tender issuance in Q2 was down 25% QOQ. 17 utility scale project tenders aggregating 8,062 MW and six rooftop tenders aggregating 94 MW were issued in the quarter. There were only three project development auctions totalling 625 MW with tariffs ranging between INR 2.51 to 2.68/ kWh.
• The quarter saw rising module prices and risk of delayed shipments. Many module suppliers are believed to be renegotiating module prices and/ or delaying shipments because of supply chain constraints.
• Reluctance of DISCOMs to sign PPAs is another major concern with as much as 21,696 MW of auctioned projects yet to be tied-up. On the policy front, the quarter saw ISTS waiver extension by two years to 2025. The waiver now also applies to GTAM, pumped hydro and battery storage projects.

BRIDGE TO INDIA is a consultancy and knowledge services provider operating in the Indian renewable energy market, aiming to offer clean innovative and viable clean energy solutions.

According to another recent report, “India Corporate Renewable Brief,” released by the organisation, total open access solar (OA solar) and rooftop solar capacities were estimated to be 4,468 MW and 6,017 MW respectively in the previous quarter, i.e. Q1 2021.