India to acumulate 11.4 GW of solar capacity every year, says S&P Global

S&P Global Platts Analytics has announced that India will add 11.4 GW of solar capacity per annum for the next few years on the back of strong government push to accomplish its targets, as per its latest report “Global Solar Outlook (2019-2025)".

The report highlights land availability, financial health of discoms, and grid availability as some vital risks that could thwart a larger solar deployment in the medium-term.

As per the report, the upcoming 2019 general elections would be an imperative event for the sector, and as an outcome, little progress on the policy front was anticipated in the near term.

Under the Jawaharlal Nehru National Solar Mission, launched as part of India’s National Action Plan on Climate Change in 2010, a target of 20 GW capacity by 2022 was set up, but was later increased to 100 GW, of which 60 GW was of utility-scale.

Stressing upon the Central Electricity Authority of India's data, the report also said that India’s solar capacity achieved 25.8 GW at the end of 2018 -- with at least 13.8 GW under construction at present and 22.8 GW tendered under a variety of schemes and state-level allocations.