This report provides an update on key trends and developments in the corporate renewable market including capacity addition, key players, policy issuances, financing, equipment prices and other market trends.
Figure: Total C&I renewable capacity by March 2023
Source: BRIDGE TO INDIA research
Note: OA wind capacity includes 2.7GW projects allocated originally under FIT regime in Maharashtra for which PPAs have expired and not been renewed.
India added 1,635 MW corporate renewable capacity in Q1 2023, up 50% QOQ and the highest since Q1 2018. Total corporate renewable capacity is estimated to have reached 30,098 MW with OA solar, wind and rooftop solar capacity estimated at 9,856 MW, 10,605 MW and 9,637 MW respectively. The boost in capacity addition was witnessed despite module availability constraints partly due to the rush to complete projects before end of the financial year.