India installed 3GW of solar capacity in the first quarter of the year, a 50% increase from Q1 2021, according to a new report from research firm Mercom India Research.
Solar EPC Sterling and Wilson believes an easing of PV module supply concerns, the rise of alternate supply chains and a gigawatt-scale green hydrogen market will drive both short- and medium-term growth for PV developers and EPCs.
Module price increases, higher raw material costs and logistical challenges will pull down the return on equity (ROE) for 25GW of India solar projects, with 5GW of those at high risk given when they submitted their bids.
Indian independent power producer (IPP) Azure Power has appointed Harsh Shah as CEO, effective from 1 July, following the resignation of its previous CEO, Ranjit Gupta, last month.
Tata Power Solar has landed what it claims to be India’s largest single solar EPC order of 1GW for roughly INR5500 crore (US$715 million) from Indian state-owned utility SJVN Ltd.
Indian Independent power producer (IPP) ReNew Power has signed a number of offtake agreements with both state utilities and corporates in India totalling roughly 2GW.
Indian module manufacturer Waaree Energies has struck a multi-year supply agreement with CubicPV, a merger between US-based wafer producer 1366 Technologies and Hunt Perovskite Technologies (HPT), under which Waaree will receive 1GW of silicon cells per year from CubicPV’s Indian factory.
Aker Horizons and Statkraft have signed collaboration agreements to jointly explore opportunities for green hydrogen and ammonia production in India and Brazil
PV module prices in India have increased by ~38% in the last 20 months, in part due to supply chain disruptions and rising solar demand, with prices not expected to fall until the end of next year.
