The first quarter (Q1) of 2018 (January-March) was the best on record for solar power installations in India, with 3269 MW being installed in the country, a 34% increase compared to Q4 of 2017. Installations were also up on a year-on-year basis — 2,991 MW was installed in Q1 of 2017. The quarter also marked another feat—this was the first time when over 3 GW (One GW equals 1000 MW) of capacity was installed in the Indian solar market. This was the fifth quarter in a row where at least 2 GW of solar power generation capacity was installed, data compiled by Mercom Communications India, a subsidiary of Mercom Capital Group, said.
The shift in policy next door is expected to cause a glut in global supplies and thus a fall in prices. With India’s high capital cost and corporate taxes, locally made supplies can’t compete.
India’s efforts to build out solar power equipment manufacturing capacity may be set back as China’s recent policy shift is expected to trigger a global equipment supply glut and price crash.
Union Minister RK Singh today said the government will bring single solar bid of 1 lakh MW, which would also include storage and solar equipment manufacturing components.
Madrid-based developer of large-scale solar power plants, Fotowatio Renewable Ventures, is in talks to sell its 100-MW power project in India in a deal worth Rs 500-600 crore, according to two people aware of the development.
FRV is talking with various investors such as Macquarie Infrastructure and Real Assets, green infra JV between PE fund Everstone Group & UK-based Lightsource BP’s Eversource Capital and Edelweiss Infrastructure Yield Plus Fund, said one of the persons cited above.