Slow capacity addition in the utility scale solar sector continued in Q3 2019. Capacity addition during the quarter was 1,734 MW, 43% below our estimate of 3,034 MW. Delay in land acquisition, transmission system availability and debt financing continue to be major bottlenecks. Installation activity should pick up gradually over the next 12 months, but developers are likely to take advantage of expiry of safeguard duty by July 2020 and we expect significant delays in project completion.

Figure: Total installed and pipeline capacity at the end of September 2019, MW

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