India hits 24.5 GW solar capacity in FY 2017/18

India’s total solar power generation capacity hit 24.5 GW by March 31, 2018, when its fiscal 2017/18 ended, of which 87% is utility-scale solar and the rest is rooftop and off-grid systems.

This is according to consultancy Bridge to India, which said today utility-scale solar installations in the past fiscal year, standing at 9.1 GW, beat all other energy sources combined. Thermal capacity additions stood at some 4.6 GW, and India installed just 1.7 GW of wind farms in the period under review.

Karnataka was the top solar state with 4.1 GW added in fiscal 2017/18.

At end-March, India had nearly 8.2 GW of projects in the pipeline.

The table below shows the top five project developers and EPC contractors in the country, as presented by Bridge to India.

When it comes to photovoltaic (PV) module suppliers, Canadian Solar (NASDAQ:CSIQ) is on top of the ranking with a market share of 12.9%, followed by JA Solar (NASDAQ:JASO) with 11.4% and Trina Solar with 7.9%. Adani is the only Indian supplier in the top 10 list, occupying the eight position.

ABB (VTX:ABBN) is the number one inverter supplier on the Indian solar market with a 20% share, followed by Huawei with 17% and Sungrow (SHE:300274) and TMEIC with 14% and 11%, respectively.

Bridge to India’s India Solar Map 2018 can be downloaded at http://www.bridgetoindia.com/wp-content/uploads/2018/06/india-solar-map1_march18.pdf.

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