Mercom Communications India in its report on Friday said India added just 438 megawatt (MW) solar capacity in September quarter 2020, down 80 per cent from the same period a year ago, according to a report. The country’s total solar installed capacity was at 37.4 gigawatt (GW) as of September 30, 2020.
India added 438 MW solar capacity in September quarter, down 80 per cent from 2,177 MW added in the year-ago period, it said. In June quarter, 205 MW solar capacity was added.
“The solar industry in India is glad to see the back of 2020, which will end up as one of the worst years for solar in India as COVID-19 took a heavy toll on the industry.
However, the market is almost back on its feet, and the mood is upbeat as the industry heads to 2021 – one of the best years forecasted for the sector,” said Raj Prabhu, CEO of Mercom Capital Group.
The lockdown situation has eased in most parts of the country, and economic activity has resumed steadily, the report said. It further said the country’s solar industry is showing signs of recovery with increased activity compared to the previous quarter.
However, the industry still has a long way to go. Several project deadlines have moved to last quarter of 2020, and the commissioning dates for a large number of projects have been postponed to the first half of 2021.
According to the report, India still has a robust large-scale solar project development pipeline of 44.7 GW, with another 34.6 GW of projects tendered and pending auction at the end of third quarter of 2020.