1.3 GW solar power generation capacity added in April-July

India has added around 1,300 MW of solar power generation capacity in the April-July period this fiscal, Parliament was informed today.
"Solar projects are set up both by a large number of private companies and government-owned entities in the country. As on July 31, 2016, solar projects of 8,062 MW have been set up," New & Renewable Energy Minister Piyush Goyal said in a written reply the Lok Sabha.
According to the statement, India's solar power generation capacity was 6,762.85 MW at the end of last fiscal i.E. March 31, 2016. Thus the country added roughly 1,300 MW of solar power generation capacity till July-end this fiscal taking the cumulative capacity to 8,062 MW.

The minister stated that the 3,018.88 MW solar power generation capacity has been added during the last fiscal compared to 1,112.07 MW in 2014-15.
The minister also stated that the trend from the last few years has shown fall in prices of solar photovolatic modules in the country.
The cost of solar PV modules per MW as per the Central Electricity Regulatory Commission's order for the determination of benchmark capital cost has come down to Rs 3.28 crore for the current fiscal from Rs 3.65 crore and Rs 3.32 crore in 2014-15 and 2015-16, respectively.

Earlier this week, the minister hdd told Rajya Sabha that tenders for solar projects worth 20,766 MW have been issued so far, out of which power purchase agreements have been signed for 8,482 MW.

Out of the 20,766 MW capacity, letter of intent has been issued for 3,392 MW while financial bids have been opened for 1,930 MW.
Presently, tenders have been floated for 6,962 MW for which bids are yet to be opened.
Government is hopeful of adding around 10,500 MW solar power generation capacity during the current fiscal. It has an ultimate objective of adding 100 GW of solar power generation capacity by 2022.
The Minister had told the House that during 2016-17, a capacity addition target of 4,000 MW and 12,000 MW has been proposed for wind and solar, respectively.