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India Solar Compass Q4 2021

India Solar Compass Q4 2021


09 March 2022 | BRIDGE TO INDIA

India Solar Compass Q4 2021

India added 3,166 MW solar power capacity in Q4 2021 taking total installed capacity to 50,481 MW by 31 December 2021. In the last one year, tariffs for SECI offtake projects have increased by only 9% YOY for projects in Rajasthan even as EPC cost excluding safeguard duty has increased by 18% YOY. Total project pipeline – projects allocated to project developers and at various stages of development – stands at 63,315 MW.

Figure: Total installed and pipeline capacity, MW, 31 March 2022

Source: BRIDGE TO INDIA, MNRE
Note: Others include projects executed under open access, REC and other miscelleneous categories. All project capacity numbers in this report are stated in AC MW, unless noted explicitly otherwise.

With strong global demand and persistent supply chain constraints in China, prices are likely to remain relatively firm over next two quarters.

On the policy front, there were a few key announcements relating to a formula-based tariff revision for ‘change in law’ events, draft competitive bidding guidelines for battery storage installations and REC price bands.


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