India boosts solar imports, exports in Q3 2017

India imported 44% more solar modules in the third quarter (Q3) of 2017, compared to the same period a year back, and also registered 153% growth in exports, Mercom Capital Group said on Tuesday.

In sequential terms, solar imports declined by 40% as prices of China-made photovoltaic (PV) modules increased. The uncertainty around the pending imposition of anti-dumping duties against solar cell imports from China, Taiwan and Malaysia, and the renegotiation of power purchase agreement (PPA) terms in some states also contributed to the drop, the consultancy explained.

Overall, import and export activity in India’s solar segment stood at USD 776.08 million (EUR 660.7m) in July-September, down from USD 1.24 billion in the second quarter, due to a general slowdown in project installation activity.

The table below gives more details about the import-export activity of the Indian solar sector in Q3.

China is still the single largest exporter of solar cells and modules to India in the first nine months of 2017, accounting for 88% of the total. It was followed by Malaysia and Taiwan with market shares of 6.7% and 1.6%, respectively.

Meanwhile, Turkey accounted for 17.2% of India’s solar exports to other countries. The second largest importer of Indian PV equipment was Denmark with a 15.3% share, followed by Germany with a 14% share.

(USD 1.0 = EUR 0.851)

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