Solar is now cheapest form of new electricity in a host of international markets, driven by cost reductions and growth of bifaciality, large-area solar modules and trackers.
Total has agreed to buy a 20% stake in Indian PV developer Adani Green Energy, as the French oil and gas major ramps up efforts to reach its global clean energy targets.
An initial feasibility study into a 600MW floating solar plant in the Indian state of Madhya Pradesh has concluded, with the plant expected to begin power generation by 2022 or 2023.
A subsidiary of Adani Green Energy has received a contract to build a 600MW solar-wind hybrid project in India after posting a winning bid in an auction carried out last month by the Solar Energy Corporation of India (SECI).
Indian utility Gujarat Urja Vikas Nigam Limited has auctioned 500MW of PV capacity, with winning bids setting a record for the lowest solar tariff seen in India.
Generating capacity from solar projects in developing economies reached 325GW in 2019, with China and India the biggest emerging markets for clean energy investment, according to new findings from BloombergNEF.
Rising demand for green projects in investor portfolios is "broadening the geographic base" of the solar market, with 36 nations set to install more than 1GW of solar by 2029.
