Procurement

CareEdge Ratings has analyzed the key drivers of rising PV module prices and the impact on projects in India. It has also assessed the tariffs expected in upcoming bids, to ensure that developers get the same returns they were previously getting. 

Chinese PV module manufacturer Longi has surpassed 7 GW of shipments to India, less than six years after launching its operations in the country.

ReNew Power was the top utility-scale solar developer in 2021, commissioning the largest amount of capacity. Tata Power Solar led in rooftop solar installations, accounting for 20% of total annual additions. 

Mumbai-headquartered Waaree has supplied its 335 Wp polysilicon modules to Gujarat-based developer KPI Global Infrastructure, for projects in Bharuch district, Gujarat.

USA-headquartered CubicPV will supply, per annum, 1 GW of Direct Wafer silicon solar cells to Indian manufacturer Waaree Energies under a five-year contract. The cells will be supplied from its upcoming 2 GW factory in India.

Supply demand mismatch is the most crucial factor which is directly or indirectly leading to an increase in module prices. At present, demand (especially for poly-Si) far outstrips the supply. A balance between the supply and demand is essential for stabilization of solar module prices.

While ALMM does support domestic manufacturers, this is not a sustained solution considering the wide demand-supply gap. Disincentivising imports could be a workable strategy when there is enough capacity back home.

While the Central and State Governments have taken several proactive steps to make it easier for solar developers to acquire land for their projects, land aggregation remains the single biggest roadblock in implementing large-scale projects, resulting in a slowdown in the industry.

Over 4GW of open access and rooftop solar projects under various stages of development can get stuck due to the ALMM requirement, according to Distributed Solar Power Association (DiSPA).

The two nations together supply 96% of India’s lithium-ion cell and battery imports and almost 70% of non-rechargeable lithium products.