From pv magazine India
A new report by the CEEW Centre for Energy Finance (CEEW-CEF) has shown that India’s grid-scale solar capacity additions in the third quarter (October-December) of the country's 2020-21 fiscal year reached 1,125 MW. This is more than double the 529 MW of grid-scale capacity added in the preceding quarter (July-September).
Rooftop solar additions reached 289 MW in the October-December period. Overall, the nation added 1,414 MW of solar from utility-scale and rooftop projects combined, compared to just 928 MW installed in the preceding three-month period.
Solar continued to dominate, accounting for 73% of the 1.9 GW of renewable capacity additions (grid-scale solar, rooftop solar, wind, and biomass) added in the third quarter of the fiscal year.
“The performance … has further reiterated the promise the sector holds. To meet the 450 GW renewables target, India needs investments worth more than $200 billion for generating capacity alone,” said Arunabha Ghosh, chief executive officer at CEEW. “Significant additional funds will be required for supporting infrastructure such as storage and transmission. The focus must now be on reducing the cost of finance and embracing innovative financing models such as a time-bound credit enhancement scheme to accelerate the growth of the sector.”
To continue reading, please visit our pv magazine India website.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.