03 October 2018 | Arti Mishra Saran
Total utility- scale solar and wind installed capacity reached 58 GW on September 30, 2018. Solar and wind capacity individually stood at 24 GW and 34 GW respectively.
Figure: Total solar and wind capacity on September 30, 2018
Last 12 months were notable for exponential surge in tender announcement. 46 GW of solar and wind tenders were announced in between October 2017- September 2018. 14 GW of utility scale solar and 8 GW wind projects were under various stages of execution on September 30, 2018.
Figure: Top 10 players based on projects commissioned between October 2017 and September 2018
ReNew, Adani and Acme are the top three developers with installed capacity of 3.7 GW, 2.0 GW and 1.8 GW respectively, whereas Acme, ReNew and Azure take the lead in pipeline capacity (2.4 GW, 2.1 GW and 1.9 GW respectively). Canadian Solar (9.4% market share), JA Solar (6.6%) and Trina Solar (6.4%) were the top three module suppliers in the year. Domestic manufacturers’ combined market share increased marginally to 14.8% (12.2% last year). Chinese suppliers are beginning to dominate the inverter market also. China-based Huawei (16.3% market share) and Sungrow (14.9%) have emerged as the largest players replacing ABB and Japan’s TMEIC. Turbine market continues to be dominated by Gamesa (31.4%) and Suzlon (26.3%) constituting more than 50% of the total market share.
Although, Indian RE market has grown spectacularly over last four years, previous 12 months have seen several ups and downs. The tender activity for both solar and wind has gone up, but installation is slipping because of various operational and policy implementation issues. The sector growth is facing challenges from safeguard duty imposition, ceiling on bid tariffs, tender cancellation, falling rupee and higher interest rates.
BRIDGE TO INDIA’s latest edition of India RE Map – September 2018 contains other information on state-wise, policy-wise, player-wise progress of the Indian solar and wind market (download it here for free).