Top 3 developers commissioned one-fourth of utility-scale PV projects

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As of September 2018, India’s commissioned utility-scale solar capacity stands at 23.8 GW, while there is a pipeline of around 14 GW, according to Bridge To India’s Solar Map for September 2018.

Of the total commissioned capacity, India’s central government tendered 8.6 GW (SECI 4.2 GW, NTPC 3.3 GW and the public sector 1.1 GW) and state governments 10.9 GW (DISCOMs 10.3 GW and the public sector 619 MW), while others accounted for 4.3 GW. Overall, the central government has 8.1 GW worth of solar tenders in pipeline, and state governments around 5.9 GW, says Bridge to India.

The states of Karnataka (5,299 MW), Telangana (3,374 MW) and Rajasthan (2,895 MW) lead in terms of commissioned capacities, while Karnataka, Andhra Pradesh and Tamil Nadu, respectively, have the highest contribution of renewable power generation to total consumption.

Leading developers

Out of the total 9,538 MW capacity commissioned between October 2017 and September 2018, at 11% Adani bagged the lion’s share, followed by Acme (7.5%) and ReNew Power (7.3%). However, as of September, ReNew Power has the maximum commissioned solar capacity overall (over 3,500 MW), followed by Tata Power and Greenko (each over 2,000 MW); and Acme has the maximum solar capacity in pipeline.

Major suppliers

Canadian Solar was found to be the leading module supplier, with a 9.4% share of the estimated 10,725 MW DC of capacity, followed by JA Solar (6.6%) and Trina Solar (6.4%).

Meanwhile, of the total 8,189 MW AC supply, Huawei inverters accounted for 16.3%, followed by Sungrow (14.9%) and ABB (13.1%). Sterling & Wilson, Larsen & Toubro and Mahindra Susten were said to be the leading solar EPC contractors, representing 10.7%, 7.6% and 7.5%, respectively.

Tariff trends

Bridge to India also shows the trend towards larger capacity auctions, and lower tariffs, between 2016 and September 2018. Tariffs for solar have dropped from a high of INR 6.48/kWh in 2016, to the record INR 2.44/kWh, which was first secured last year for the Bhadla Phase III power plant in Rajasthan. The low price has since been seen in two further auctions this year: a 2 GW and a 3 GW auction, both held by the Solar Energy Corporation of India, for projects across India.