India installed 745MW of solar and wind in December, taking the country’s total renewables capacity up to 91.1GW, according to new figures from JMK Research & Analytics.
More than 500MW of December’s additions were from solar PV plants, the consultancy said in its latest market update, with Gujarat installing the highest amount. The state also recently hosted an auction for 500MW of PV that saw winning bids set a record for India’s lowest solar tariff.
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In terms of shipment figures for 2020, India’s solar imports and exports were said to have declined year-on-year by 69% and 97% respectively, reflecting the sharp contraction of activity as a result of the COVID-19 pandemic.
A significant development in India’s solar market has seen the government raise customs duty on solar inverters to 20%, which JMK said will increase project costs for the rooftop and small-scale solar market, while utility-scale PV projects where auctions are already completed “will get a pass-through under change in law condition”.
Last month, meanwhile, saw Yingkou Jinchen Machinery (Jinchen) secure a deal to supply Waaree Energies with a 3GW module production line for the manufacturer’s facility in Mumbai. The line is expected to be operational in June 2021, taking Waaree’s total manufacturing capacity to 5GW.
Indian Prime Minister Narendra Modi recently announced that the country’s renewables capacity is on track to reach 220GW by 2022, far higher than its original 175GW target, as he unveiled plans to support domestic solar manufacturers.
