India reached a cumulative installed solar capacity of 67.6 GW on Dec. 31, 2022, with 15,041 MW of new PV capacity added in 2022. A significant positive for 2022 was the open access market, which added 3.4 GW of new capacity, the highest ever to date, according to India Solar Compass Q4 2022 released by Bridge To India.
Adani (1,755 MW), NTPC (1,618 MW), and Avaada (1,383 MW) were the top developers by projects commissioned in 2022.
The report stated the average solar tariff during the year 2022 rose 11% to INR 2.66/kWh, while hybrid tariffs increased by 15% year-on-year to INR 2.85/kWh. State-owned hydropower producer SJVN was the top project winner in pure solar auctions with a total allocated capacity of 1,095 MW, followed by Fortum (800 MW) and Tata Power (650 MW). Tata Power led solar-wind hybrid auctions by a large margin with total wins of 1,310 MW, followed by NTPC (450 MW) and ReNew (300 MW).
As on Dec. 31, 2022, the total project pipeline (projects allocated to project developers and at various stages of development) stood at 52,293 MW.
Q4 2022 addition stood at about 2,755 MW, a 17% decline over the preceding quarter. Out of this, 79% (2,166 MW) was utility-scale, 15% (428 MW) rooftop, and 6% (161 MW) off-grid.
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