India added 3.3 GW of solar in Q3


From pv magazine India

India installed 3,338 MW of new solar power capacity in the third quarter of 2022, bringing cumulative PV installations to 64.2 GW by the end of September. Of the new additions, 2.6 GW came from utility-scale solar, 485 MW from the rooftop, and 251 MW from off-grid installations, according to Bridge to India’s latest report.

Capacity installations declined 13% quarter on quarter in the July-September period, as developers postponed projects in anticipation of a decline in module prices next year. A lack of clarity about the concessional basic customs duty (BCD) for projects auctioned before March 2021 also slowed progress, said the analysts.

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“Prices of both international and domestic modules softened slightly and are expected to continue easing gradually through all of 2023. EPC cost for utility-scale solar saw a 7% QOQ decline to INR 43.3 ($0.53)/Wp,” said Bridge to India.

Module imports picked up marginally throughout the quarter, but exports also grew to an all-time high. The total amount of PV in the national pipeline stood at 53,405 MW as of Sept. 30. This includes projects allocated to developers and installations in various stages of development. Bridge to India said it expects the country to add about 3.2 GW of PV capacity in the fourth quarter of 2022 and 3 GW in the first quarter of 2023.

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