India added 438 megawatt (MW) solar capacity in September quarter 2020 which is, down 80 per cent from the same period a year ago as per a report by Mercom Communications India. It added that India’s total solar installed capacity was at 37.4 gigawatt (GW) as of September 30, 2020. In June quarter, 205 MW solar capacity was added as per the report.
Many project deadlines have moved to last quarter of 2020
The report added that the lockdown situation has eased in most parts of the country, and economic activity has resumed steadily. India’s s solar industry is showing signs of recovery with increased activity compared to the previous quarter. But the industry still has a long way to go. Many project deadlines have moved to last quarter of 2020, and the commissioning dates for a large number of projects have been postponed to the first half of 2021.
As per the report, India still has a robust large-scale solar project development pipeline of 44.7 GW. Another 34.6 GW of projects is tendered and pending auction at the end of third quarter of 2020.
Raj Prabhu, CEO of Mercom Capital Group said “The solar industry in India is glad to see the back of 2020, which will end up as one of the worst years for solar in India as COVID-19 took a heavy toll on the industry”. He added “The market is almost back on its feet, and the mood is upbeat as the industry heads to 2021 – one of the best years forecasted for the sector.”