China’s surge is not just a ripple but a tidal wave, with over US$450 billion in surplus factory investment threatening to flood the market over the next three years.
Solar PV accounted for 55.8% of the total power generation capacity added to the Indian grid in 2023, including fossil fuel additions which rose considerably over the year in response to growing electricity demand.
Allegations of fraud at Indian conglomerate Adani Group, which have knocked around US$125 billion off its market value since January, are unlikely to cause any perceptible damage to India’s long-term solar growth, according to two prominent members of the industry.
The Indian government has decided to relax the Approved List of Models and Manufacturers (ALMM) for two years, in a move to boost installed solar capacity.