India is likely to add between 8 Gigawatt (Gw) and 8.5 Gw of renewable energy generation capacity in the current financial year ending March 2019 followed by healthy growth next fiscal (2019-20) too, according to research and rating agency ICRA.
The country added around 12 Gw renewable energy capacity in the last financial year ending March 2018. Contribution from solar was upto 9 Gw, wind upto 2 Gw and capacity addition from other sources was upto 1 Gw.
“The project awards so far provide a reasonably healthy visibility for RE capacity addition in FY2019 and FY2020 with the expected addition of about 8-8.5 Gw in FY2019. This apart, RE projects are likely to remain cost competitive against conventional power sources,” said Sabyasachi Majumdar, Group Head-Corporate ratings, ICRA Ltd. Read more