The leaders in the Indian solar market

06 Nov 2020 CW Team

Solar accounted for 56% of the country’s new power capacity additions in the first half of the year, and the India Solar Market Leaderboard 1H 2020 from Mercom India Research reveals the Indian solar industry’s market leaders, from the first half (H1) of the calendar year (CY) 2020.

The report includes market share and shipment rankings of major stakeholders across the Indian solar supply chain in H1 of 2020.

H1 2020 saw the COVID-19 pandemic severely affect the Indian solar market, resulting in a slowdown in solar installation activity across the board.

Solar installations in 1H of 2020 totalled 1.3 GW, a 60% drop compared to 3.2 GW of installed capacity in H1 of 2019. However, India still maintains a strong pipeline of 41.7 GW of utility-scale projects under development, with another 34.2 GW of tenders awaiting auction.

In large-scale solar installations, Hero Futures Energies leads the pack. With 1,016 MW installed, utility- scale solar installations represented 78% of the capacity additions in the half-year. Adani leads in terms of cumulative installed capacity, though.

Labour shortages, logistical issues, and the challenge of balancing project economics plagued the solar EPC segment. Sterling & Wilson topped the list in that category. That company also has the largest solar EPC portfolio overall.

The report can be accessed here.

Source: Mercom India

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