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India expected to install 21.2GW of solar in FY2025

published: 2024-05-28 18:01

Apraava Energy, Avaada Energy, ReNew Solar Power (ReNew) and JSW Neo Energy (JSW Energy) have emerged as the winners in the bidding for 1.5GW of photovoltaic power projects (Batch III) from India's state-owned power group NTPC.

Apraava won the bid for 50 MW at the lowest tariff of Rs 2.68/kWh (~$0.2337).Avaada, ReNew and SW won the bids for 750 MW and 300 MW and 400 MW at a tariff of Rs 2.69/kWh (~$0.2346).The tariffs are an increase from March's winning tariffs of Rs 2.59 and Rs 2.6 for 1.5 GW. up.

JMK Research expects that in FY2025 (ending March 31, 2025), India will add about 21.2GW of new PV installations, including about 16.5GW of large-scale ground-mounted plants, 4GW of rooftop PV plants, and 700MW of off-grid plants.

In FY2024, India will add about 11.5GW of large-scale ground-mounted power plants, an increase of about 18% over the previous fiscal year. Rooftop PV plants added about 3GW, up 34% year-on-year.

In the first quarter of 2024, India added about 7.5GW of large-scale ground-mounted power plants, about five times the amount installed in the previous quarter. Sunny Power topped the list of inverter suppliers, followed by Fimer and Sineng.

Jinko Solar was the largest PV module supplier in India in Q1 2024, followed by LONGi and Trina Solar.

Source: https://mp.weixin.qq.com/s/CTrfGnhBWPCuvxZ-sl4nmw

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