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India’s installed capacity in fiscal year 2025 is expected to be 21.2GW, with Jinko being the largest module supplier

published: 2024-05-28 17:58

Apraava Energy, Avaada Energy, ReNew Solar Power (ReNew) and JSW Neo Energy (JSW Energy) emerged victorious in the bid for the 1.5GW photovoltaic power generation project (third batch) of Indian state-owned power group NTPC.

Apraava won the bid for 50MW with the lowest electricity price of 2.68 rupees/kWh (approximately 0.2337 yuan). Avaada, ReNew and SW won the bids for 750MW, 300MW and 400MW respectively at an electricity price of 2.69 rupees/kWh (approximately 0.2346 yuan). The electricity price has increased from the 1.5GW winning bid price of 2.59 and 2.6 rupees in March.

JMK Research predicts that in fiscal year 2025 (as of March 31, 2025), India will add approximately 21.2GW of newly installed photovoltaic capacity, including approximately 16.5GW of large ground power stations, 4GW of rooftop photovoltaic power stations, and 700MW of off-grid power stations.

In fiscal year 2024, India will add approximately 11.5GW of large-scale ground power stations, an increase of approximately 18% over the previous fiscal year. Approximately 3GW of rooftop photovoltaic power plants were added, a year-on-year increase of 34%.

In the first quarter of 2024, India added approximately 7.5GW of large-scale ground power stations, which was approximately five times the installation volume in the previous quarter. In the list of inverter suppliers, Sungrow leads the list, followed by Fimer and Sineng.

In the first quarter of 2024, Jinko Solar was India’s largest photovoltaic module supplier, followed by Longi and Trina Solar.


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