India's solar surge: Q1 2024 sees record 10 GW expansion
POWER & RENEWABLE ENERGY

India's solar surge: Q1 2024 sees record 10 GW expansion

The Indian solar segment reportedly achieved a record capacity addition of 10 GW during the first quarter of 2024, equivalent to the total addition made in the entire calendar year 2023.

It was stated that the 10 GW addition marked the highest-ever quarterly increase to date, with only 2 GW added in Q1 of 2023.

In Q1 2024, a total of 15.2 GW of new power capacity was reported to have been added, with solar power contributing two-thirds (66 per cent) of this. It was mentioned that large-scale solar projects accounted for 9.7 GW, including 1.8 GW from open-access solar projects.

The surge in solar installations during Q1 2024 was attributed to various factors, including the commissioning of delayed projects that had received extensions due to high module prices in previous quarters.

Developers were said to have benefited from falling module prices, the suspension of the approved list of models and manufacturers (ALMM) order, and the approval of grid connectivity for projects previously stalled by habitat concerns for the Great Indian Bustard (GIB), which facilitated project completions.

Rajasthan and Gujarat were reported to have led in large-scale solar installations in Q1 2024, accounting for 38 per cent and 35 per cent of the capacity additions, respectively, while Madhya Pradesh ranked third with 8 per cent.

As of March 2024, it was indicated that India?s total installed solar capacity stood at 82 GW, representing 18.5 per cent of the country?s total installed power capacity and 43 per cent of its total installed renewable energy capacity.

Rajasthan was mentioned to have had the highest cumulative installed large-scale solar capacity, making up 29 per cent of the country?s total installations as of March 2024, followed by Gujarat and Karnataka with 14 per cent each.

It was also reported that India?s pipeline for large-scale solar projects stood at 143 GW, with an additional 93 GW of projects tendered and pending auction at the end of Q1 2024.

The Indian solar segment reportedly achieved a record capacity addition of 10 GW during the first quarter of 2024, equivalent to the total addition made in the entire calendar year 2023. It was stated that the 10 GW addition marked the highest-ever quarterly increase to date, with only 2 GW added in Q1 of 2023. In Q1 2024, a total of 15.2 GW of new power capacity was reported to have been added, with solar power contributing two-thirds (66 per cent) of this. It was mentioned that large-scale solar projects accounted for 9.7 GW, including 1.8 GW from open-access solar projects. The surge in solar installations during Q1 2024 was attributed to various factors, including the commissioning of delayed projects that had received extensions due to high module prices in previous quarters. Developers were said to have benefited from falling module prices, the suspension of the approved list of models and manufacturers (ALMM) order, and the approval of grid connectivity for projects previously stalled by habitat concerns for the Great Indian Bustard (GIB), which facilitated project completions. Rajasthan and Gujarat were reported to have led in large-scale solar installations in Q1 2024, accounting for 38 per cent and 35 per cent of the capacity additions, respectively, while Madhya Pradesh ranked third with 8 per cent. As of March 2024, it was indicated that India?s total installed solar capacity stood at 82 GW, representing 18.5 per cent of the country?s total installed power capacity and 43 per cent of its total installed renewable energy capacity. Rajasthan was mentioned to have had the highest cumulative installed large-scale solar capacity, making up 29 per cent of the country?s total installations as of March 2024, followed by Gujarat and Karnataka with 14 per cent each. It was also reported that India?s pipeline for large-scale solar projects stood at 143 GW, with an additional 93 GW of projects tendered and pending auction at the end of Q1 2024.

Next Story
Technology

We’re building robots that flow, not just move

Founded in 2021, Flo Mobility is reimagining construction automation with vision-AI robots designed for seamless movement through complex sites. In conversation with CW, Manesh Jain, Founder & CEO, discusses the company’s origin, its LiDAR-free tech stack, and expansion plans in the Middle East and US.What inspired the name Flo Mobility? Why ‘Flo’ and not ‘Flow’?When we started the company in 2021, our focus was on building autonomous navigation systems for robots. Since our work centred around robot movement, ‘mobility’ naturally became part of the name. We wanted to co..

Next Story
Real Estate

We’re committed to setting benchmarks in sustainable luxury living

From a landmark land acquisition in Boisar to ambitious launches across the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru and Pune, Birla Estates is driving future-ready growth with a strong focus on sustainability, partnerships and premium living, firmly anchored in its LifeDesigned® philosophy. K T Jithendran, Managing Director & CEO, outlines the company’s premium, sustainable growth playbook in conversation with PRATAP PADODE, Editor-in-Chief, CW. Excerpts:Birla Estates recently acquired a 70.92-acre land parcel in Boisar, Maharashtra, for..

Next Story
Infrastructure Urban

Mumbai’s land crunch and ageing homes call for structured renewal

Founded in 2022, Etonhurst Capital Partners is a real-estate fund management platform focused on the Indian market. As the firm achieves the first close of Rs 1.8 billion for its debut Rs 5 billion fund, Bamasish Paul, Co-founder, Managing Partner & CEO, discusses its sharp focus on redevelopment-driven value creation in Mumbai’s urban core with CW. Excerpts:Etonhurst Capital has achieved a significant milestone with the first close of Rs 1.8 billion for its Rs 5 billion fund. What factors contributed to this early success and how do you plan to attract further investments to r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?