India will not be able to achieve its ambitious target of generating 100GW solar power by 2022, ratings agency Crisil said. In a report, Crisil’s industry research arm said that in the best-case scenario, the country will touch 78-80 GW, against the current capacity of 21.65 GW.
Crisil expects an additional 56-58GW of solar capacity addition between fiscals 2019 and 2023. While this is a vast improvement from the 20GW added during 2014-18, it still falls short of the National Solar Mission target by a fifth. (See chart) A safeguard duty on solar modules from China and Malaysia, which took effect this month and will continue for two years, is expected to slow capacity addition.
“We are more confident that projects with the Solar Energy Corp. of India (SECI) will be executed faster; their projects are better able to deal with evacuation concerns (i.e. connection to the national grid),” said Rahul Prithiani, director, Crisil Research in an interview. Read More
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