India to hit large-scale PV target of 60 GW by 2022

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From pv magazine India

India’s cumulative renewable energy installations will reach 120 GW to 125 GW by December 2022, with solar to account for about 50% of the total, according to new research by ICRA, an India-based credit ratings agency.

They expect utility-scale PV capacity to hit the 60 GW target set by the government. The rooftop solar and wind power segments will not perform as strongly, however.

“While [the 120-125 GW estimate] is lower than the capacity target of 175 GW set by the government of India (GoI), the incremental capacity addition is estimated to be healthy at 33 GW to 38 GW,” said Sabyasachi Majumdar, group head and senior vice president of corporate ratings at ICRA.

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