India adds 2,488 MW solar capacity in Q2, rising 19% QoQ over Q1
POWER & RENEWABLE ENERGY

India adds 2,488 MW solar capacity in Q2, rising 19% QoQ over Q1

India added 2,488 MW of solar capacity in the second quarter (Q2) of the calendar year (CY) 2021, an increase of 19% quarter-over-quarter (QoQ) as against 2,090 MW established in Q1 2021.

Solar establishments surged by 1,114% year-over-year (YoY) compared to 205 MW added in Q2 2020. Covid-19 pandemic adversely impacted the solar installations in Q2 2020. The capacity increase in Q2 2021 was the highest in a quarter since Q2 2018.

The total solar installations at the end of Q2, 2021 stood at 43.6 GW.

In the first half (1H) of 2021, India added 4,578 MW of solar capacity, rising 251% over the corresponding period last year, exceeding installations in all of 2020.

As per the report by the media, the solar installations grew despite the second wave of the Covid-19 pandemic and the lockdown inflicted by several states during 1H. The increase was attributed to targeted lockdowns this year, allowing the solar industry to adequately deal with the contingencies.

The report anticipates solar establishments in the range of 8-9 GW in the calendar year (CY) 2021 since the industry did much better during the second wave of the Covid-19 pandemic.

The report states that the average selling costs of solar modules have increased for the fifth quarter in a row, and this trend would proceed for another couple of quarters. Likewise, freight costs are also surging, exhibiting no signs of recovery in the short term.

In the last six months, the soaring price trends in commodities, comprising aluminium, steel and copper, have begun to take a toll on solar developers. Additionally, the increase in steel costs has exacerbated the situation for engineering, acquisition, and construction players and module companies in the solar space.

As per the report, the large-scale solar project development pipeline reached 52.8 GW, with 28 GW of projects tendered and pending auction at the end of Q2 2021.

Gujarat and Rajasthan were the first two states in installations, accompanied closely by Uttar Pradesh and Andhra Pradesh. The top ten states estimated 95% of the total establishments during the quarter.

As per the report, new solar capacity expansions in 1H 2021 were the highest ever for any year, at 53% of the total power capacity increases. Renewables, involving solar, wind, and hydro, made up 71% of the total capacity increase in 1H 2021.

Image Source


Also read: India to increase renewable capacity to 68 GW in five years

Also read: India installs 97 GW grid-interactive renewable energy as of June 30

India added 2,488 MW of solar capacity in the second quarter (Q2) of the calendar year (CY) 2021, an increase of 19% quarter-over-quarter (QoQ) as against 2,090 MW established in Q1 2021. Solar establishments surged by 1,114% year-over-year (YoY) compared to 205 MW added in Q2 2020. Covid-19 pandemic adversely impacted the solar installations in Q2 2020. The capacity increase in Q2 2021 was the highest in a quarter since Q2 2018. The total solar installations at the end of Q2, 2021 stood at 43.6 GW. In the first half (1H) of 2021, India added 4,578 MW of solar capacity, rising 251% over the corresponding period last year, exceeding installations in all of 2020. As per the report by the media, the solar installations grew despite the second wave of the Covid-19 pandemic and the lockdown inflicted by several states during 1H. The increase was attributed to targeted lockdowns this year, allowing the solar industry to adequately deal with the contingencies. The report anticipates solar establishments in the range of 8-9 GW in the calendar year (CY) 2021 since the industry did much better during the second wave of the Covid-19 pandemic. The report states that the average selling costs of solar modules have increased for the fifth quarter in a row, and this trend would proceed for another couple of quarters. Likewise, freight costs are also surging, exhibiting no signs of recovery in the short term. In the last six months, the soaring price trends in commodities, comprising aluminium, steel and copper, have begun to take a toll on solar developers. Additionally, the increase in steel costs has exacerbated the situation for engineering, acquisition, and construction players and module companies in the solar space. As per the report, the large-scale solar project development pipeline reached 52.8 GW, with 28 GW of projects tendered and pending auction at the end of Q2 2021. Gujarat and Rajasthan were the first two states in installations, accompanied closely by Uttar Pradesh and Andhra Pradesh. The top ten states estimated 95% of the total establishments during the quarter. As per the report, new solar capacity expansions in 1H 2021 were the highest ever for any year, at 53% of the total power capacity increases. Renewables, involving solar, wind, and hydro, made up 71% of the total capacity increase in 1H 2021. Image Source Also read: India to increase renewable capacity to 68 GW in five years Also read: India installs 97 GW grid-interactive renewable energy as of June 30

Next Story
Infrastructure Urban

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Next Story
Infrastructure Urban

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Next Story
Infrastructure Urban

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, “We are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?