India: 1 GW milestone crossed30. July 2012 | Markets & Trends | By: Shamsiah Ali-Oettinger
Local media in India have reported that solar photovoltaic installations in the country have crossed the one GW mark, according to the data released by the Ministry of New and Renewable Energy (MNRE).
As of end of June, India's grid interactive solar PV installed reached a capacity of 1,030.66 megawatts with a large percentage – almost 65 percent – located in Gujarat. Bridge to India tells pv magazine this achievement comes earlier than planned as the MNRE targeted a capacity of 800 MW by end of FY2012-2013.
Bridge to India, in its latest report (The India Solar Compass July 2012),
expects an additional 598 MW of PV capacity to be commissioned between
now and the second quarter of 2013, keeping in mind that 340 MW worth of
projects under batch two of phase one of the National Solar Mission also
have a commissioning deadline of March 2013.
The company additionally states, "Few had expected India to keep up with the ambitious targets when they were announced under the NSM. This perception has changed due to the willingness and commitment that the project developers and investors have shown with regards to investing in solar in India. As an example, for an allocation of 350 MW under batch two of phase one of the NSM, bids totaling of 1,905 MW were received. This goes to show that the investor community believes in the role of solar power as a serious alternative source of energy for India and is willing to take a strategic bet on it."
A report released in April by the U.S. Natural Resources Defense Council (NRDC) and the Council on Energy, Environment and Water (CEEW) emphasized the government policy has played a pivotal role in India's solar market and impressive strides have been made to attract new domestic and international players into the market, and lower the price of solar energy faster than anticipated.
Keep your finger firmly on the photovoltaic pulse: sign up for our daily newsletter
- 3852 views
- 3638 views
- 3613 views
- 2790 views
- 2524 views
Want to publish your press releases for free? Simply log in or register, enter the information you want to appear and we'll publish it for you!