India to install 4.8GW in 2016, says Mercom

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Source: Mercom Capital Group.

India will install 4.8GW of solar in 2016, according to new data from consultancy firm Mercom Capital.

The country’s total capacity is now just over 8.6GW, as of September 2016. Four states have now passed the 1GW threshold. Tamil Nadu, Rajasthan, Gujarat and Andhra Pradesh account for 59% of all the current installed solar capacity.

With a pipeline of 14GW and 7GW of tenders waiting in the wings, the actual delivery of projects faces some difficulties.

“The challenge is going to come next year when approximately 9 GW of solar power is forecast to be installed. Unless the ‘must run’ status for solar projects is strictly enforced we are going to see some challenges,” said Raj Prabhu, CEO of Mercom Capital Group.

Mercom cites the slowdown in demand for power and low prices available on the country’s power exchanges.

Low module prices internationally offer some cheer for developers looking to deliver on aggressively low auction prices in many of India’s tender rounds. Module prices have already fallen in India and are expected to continue to do so.

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