Solar Capacity

Vikram Solar shares soar 13% to new high after multifold Q1 profit jump

Vikram Solar said its order book currently stands at 10.96 gigawatts, while capacity utilisation reached 89.2 per cent

Nomura bets on Waaree, Premier as Indian solar capacity to grow 3x by 2030

To meet the robust demand, Nomura analysts project India will add ~309GW of installed capacity between FY25-30F, with renewables (RE) accounting for the bulk of the expansion.

Jupiter International secures ₹500 cr investment to boost solar capacity

Solar solutions provider Jupiter International Ltd on Monday said it has secured an investment of Rs 500 crore from ValueQuest SCALE Fund and its affiliates to accelerate solar manufacturing expansion. The company operates at a 1 GW facility in Baddi, Himachal Pradesh, and plans to increase the total capacity to 5.6 GW solar cells and 2.4 GW solar modules, the company said in a statement. The present funding round of Rs 500 crore and internal accruals is proposed to support the company's ongoing capex programme, it said. According to the statement, Jupiter International Ltd -- a manufacturer of photovoltaic solar cells and a provider of comprehensive solar power solutions -- has announced that it has secured a Rs 500 crore investment from ValueQuest SCALE Fund and its affiliates. As a long-term partner, their continued confidence underscores our ability to scale efficiently and drive innovation, Jupiter International Managing Director Alok Garodia said. "Jupiter's integrated appro

Work in progress to power up Rajasthan govt's solar energy capacity

"The day is not far off when the state will not only fulfil its own needs but also supply electricity to other areas of the country," Rajasthan Minister of State for Energy Heeralal Nagar said

India adds 15 GW solar capacity in H1FY24, 282% rise from H1FY23: Report

India has registered record solar installations of about 15 GW during the first half of 2024 as "developers raced" to complete delayed projects, a report by Mercom Capital said. The country added 3.89 GW of solar capacity during January-June 2023, the US-based research firm said in its latest report. "In the first half, solar installations in India reached 15 GW, surpassing all previous years records, posting an increase of 282 per cent compared to 1H 2023," the report titled 'India Solar Market Update' said. The record installations were registered as developers raced to commission the previously delayed projects, it said. As of June 2024, India's cumulative installed solar capacity stood at 87.2 GW, of which the utility-scale projects accounted for nearly 87 per cent, and rooftop solar over 13 per cent. Solar energy accounted for 19.5 per cent of India's installed power capacity and over 44 per cent of the total installed renewable energy capacity. The average cost of large-sca

Domestic open access solar capacity addition doubles in Jan-Mar: Mercom

Open access solar installations rose two-fold in India to 1.8 gigawatts during January-March this year supported by several factors, including reduced module cost, US-based Mercom Capital has said. Solar power through open access is an arrangement where a power producer establishes a solar power plant to supply green energy to consumers. India added over 1.8 gigawatts (GW) of solar open access capacity in the first quarter of the calendar year of 2024, posting a two-fold increase from 909.3 megawatts (MW) in Q4 2023, the report titled 'Mercom India Solar Open Access Market' said. As of March 2024, the cumulative installed solar open access capacity stood at 14.3 GW. Solar open access developers benefited from lower Chinese module prices and the suspension of the Approved List of Models and Manufacturers (ALMM) order for projects commissioned through March 2024. Additionally, lower power purchase agreement (PPA) prices, due to reduced project costs, further incentivized consumers t

Open access solar capacity grows 21% to 907 MW in Sept quarter: Mercom

The country recorded a 20.6 per cent rise in new installations of open access solar capacity to 907 MW in the September quarter, according to Mercom India. India had added 752 MW (Mega Watt) of open access solar capacities in the year-ago period, the research firm said in its 'Q3 2023 Solar Open Access Market Report'. On a quarter-on-quarter (q-o-q) basis, the capacity addition was 36 per cent higher than the 666 MW in the April-June quarter, the report said on Monday. As of September 2023, the country's cumulative installed open access solar capacity was 11 GW (Giga Watt). Under the open access model, an individual or a company can set up a green energy plant and sell the clean power generated in the open market to discoms or private consumers. "The drop in solar project costs attracted consumer attention this quarter. Power purchase agreements that were on the back burner are now being signed," Priya Sanjay, Managing Director at Mercom India, said. Emphasis on greening products

Open access solar capacity addition falls 3.6% to 712 MW in Apr-Jun: Report

The country recorded a 3.6 per cent decline in new installations of open access solar capacity to 712 megawatt (MW) in the June quarter, according to a report by Mercom India. India had added 739 MW of open access solar capacities in the year-ago period, the research firm said in its 'Q2 2023 Solar Open Access Market Report'. However, on a quarter-on-quarter (q-o-q) basis, the capacity addition was 24 per cent higher than the 577 MW in the January-March quarter, the report said. Open access enables consumers with more than 100 kW sanctioned load to buy cheaper power from the open market. In the January-June period, India added 1.3 GW of open access solar capacity, down almost 18 per cent compared to 1.6 GW installed in the year-ago period. "In the period under review, the green energy open access regulation has been a major enabler for increased solar capacity addition under open access, even though lack of uniform rules in states was a challenge. "Hybrid power projects with a ..

Open access solar capacity addition falls 37% to 518 MW in Jan-Mar: Mercom

Open access solar capacity installations in the country fell by 37 per cent year-on-year (y-o-y) to 518 megawatt (MW) in the January-March period of this year, according to Mercom India. However, on a quarter-on-quarter (q-o-q) basis, the capacity addition was 68 per cent higher compared to 308 MW open access solar capacity installed in the October-December period of 2022, the research firm said in its latest report. "In Q1 of the calendar year (CY) 2023, India added 518 MW of solar open access, an increase of over 68 per cent compared to 308 MW installed in Q4 2022. Installations were down 37 per cent y-o-y over 825 MW in Q1 2022," the 'Q1 2023 Mercom India Solar Open Access Market Report' said. Solar power through open access is an arrangement where a power producer establishes a solar power plant to supply green energy to consumers. As of March 2023, the country's pipeline of open access solar projects stood at 6.4 gigawatt (GW). In Q1 2023, Karnataka remained the leading state

India needs to install 30 GW solar capacity annually to meet target: Mercom

India will require to add 30 gigawatt (GW) of solar energy capacity annually to meet the 280 GW solar capacity installation target by 2030, according to US-based Mercom Capital. Sharing his outlook, Mercom Capital CEO Raj Prabhu said, "The outlook is very positive on the back of various steps taken by the government to help and support the domestic renewable energy sector". The government launched production-linked incentive programmes, renewable manufacturing zones and a few other initiatives to make India Atmanirbhar in this area. However, policy certainty and timely implementation of these programmes are critical for achieving the government's goal of self-reliance in renewable energy, he noted. "We must change our mindset from a 10 GW a year industry to a 30 GW a year solar industry and establish all the necessary infrastructure physical, policy and financial to achieve the 280 GW goal (solar capacity installation) along with the energy transition goals," he said. He further s

Ramkrishna Forgings plans to setup 85 MW solar capacity: CFO Lalit Khetan

Ramkrishna Forgings is planning multi-crore investments to set up around 85 mega watt (MW) renewable energy capacity, company CFO Lalit Khetan has said. The company aims to execute the plan over the next 12 months, Khetan said. Out of the planned 85 MW green capacity, about 8 MW roof-top solar project will be set up at the company's forging plants at Sariekella and Dugni, in Jamshedpur, he told PTI. "The total cost of the 8 MW project is estimated to be approximately Rs 35 crore, which will be financed by a mix of debt and equity," Kehtan, who is also the Executive Director of the company said. The power generated will be used for captive consumption, reducing the company's dependence on grid power, he said. When asked if the company plans more green projects to increase usage of clean energy, Khetan replied in affirmative. "Our commitment is responsible business practices and dedication to reducing carbon footprint. We look to explore setting up another solar capacity of up to 7

India's open access solar capacity grows 91% to 596 MW in Jul-Sep: Report

Installation of open access solar capacity in India increased by 91 per cent to 596 megawatt (MW) during the July-September period, according to Mercom Research India. India added 312 MW of solar open access capacity in the same period a year ago, the research firm said in a report on Thursday. Solar power through open access is an arrangement where a power producer establishes a solar power plant to supply green energy to consumers. In the first nine months (9M) of 2022, India added about 1.9 gigawatts (GW) of open access solar, an increase of 96 per cent from the 956 megawatts (MW) installed in January-September of 2021, the report titled 'Mercom India Solar Open Access Market Report Q3 2022' said. According to the report, as of September 2022, the total installed solar capacity in the open access segment was over 7 GW, and the pipeline of projects under development and pre-construction phase is over 5 GW. "The demand by corporates for solar under the open access route has been

Solar capacity addition falls marginally in Jul-Sep to 2.7 GW: Report

Solar capacity installations in India fell marginally by around 3 per cent to 2.7 gigawatt (GW) during July-September 2022, according to Mercom India Research. There were 2.8 GW installations during the same period in 2021, the research firm said in its report on Wednesday. However, the 10 GW of solar installations during the first nine months (9M) of 2022 were 35 per cent higher than the 7.4 GW installed in the January-September period last year, the report titled 'Q3 2022 India Solar Market Update' said. India's cumulative installed solar capacity stands at 60 GW as of September end. "With over 10 GW of solar added in the first three quarters of 2022, the Indian solar market will surpass last year's installations and is headed towards its best year. However, domestic supply and demand mismatch could hold the sector back in the short term. Until there is a clear resolution in Rajasthan, delays will continue to impede large-scale projects," said Raj Prabhu, CEO of Mercom Capital ..

India to fall short of 2022 target of solar capacity by 27%: Report

India is projected to fall "well short" of its target for 2022 of having 100 GW of installed solar capacity, largely due to slow uptake of rooftop solar, a new report by JMK Research and IEEFA said

India adds 1.2 GW open access solar capacity in 2021: Mercom India

India's solar open access installations witnessed a sharp growth during 2021 with the country adding 1.2 gigawatts (GW) of open access solar capacity during the year, according to Mercom India.

India adds record 1,700 megawatt rooftop solar capacity in 2021: Mercom

India installed a record 1,700 megawatt (MW) of rooftop solar capacity in 2021, registering a 136 per cent year-on-year rise, according to a Mercom India Research report.

India adds record 10 gigawatt solar capacity in 2021: Mercom report

The country had made 3.2 GW of solar capacity installations during 2020, Mercom India Research said in its latest report

India adds 6,530 MW solar, wind capacities during July 2020-June 2021: Rpt

India added a total of 6,530 mega watt (MW) of solar and wind capacities between July 2020 and June 2021, a report said on Wednesday

India adds 3.2 GW solar capacity in 2020; lowest in 5 years: Report

India added 3,239 megawatt (MW) solar capacity in 2020, down 56 per cent from the previous year, according to a report. The adding of 3,239 MW of solar capacity was the lowest addition in five-years-time, Mercom India Research said in its report on Tuesday. "India added 3.2 GW or 3,239 MW of solar capacity in 2020, a 56 per cent decline year-over-year (YoY) compared to 7,346 MW installed in 2019," it said adding the country's total solar installed capacity was at 39 GW gigawatt (GW) as of December 2020. The large-scale solar projects accounted for 78 per cent of installations with 2,520 MW, registering a 60 per cent year-on-year (y-o-y) decline. The addition of the remaining 719 MW rooftop installations was also down 22 per cent compared to the installation in 2019. Andhra Pradesh, Rajasthan, and Gujarat were the top three states for large-scale solar capacity additions, representing around 51 per cent of 2020 installations. "India's solar installations in 2020 were the lowest in

India's solar capacity addition down 12% to 7,346 MW in 2019: Report

India's solar energy capacity addition dipped 12 per cent to 7,346 megawatts (MW) in the calender year 2019 from 8,338 MW in 2018, according to a report by Mercom India Research. While 2019 was a lost year for the country's solar sector, Mercom India Research expects solar installations to rise by 17 per cent year-on-year (y-o-y) to about 8,500 MW by the end of 2020. "The country installed 7,346 MW of solar in 2019, a 12 per cent decline year-over-year (YoY), compared to 8,338 MW installed in 2018," according to the report titled 'Q4 & Annual 2019 India Solar Market Update'. It also estimates solar installations in the range of 65-70 gigawatt (GW) by 2022, based on the current market conditions. The government has set a solar installation target of 100 GW by 2022. The large-scale solar projects accounted for 85 per cent of installations with 6,242 MW in 2019 and saw a 7 per cent y-o-y fall, and rooftop solar made up the remaining 15 per cent adding 1,104 MW, a 33 per cent drop ...