While news of Japan’s SoftBank announcing up to USD 60-100 billion investment in India’s solar PV power generation is creating ripples across the industry circles, industry analysts feel that the committment sounds unrealistic in view of India’s current PV market status and future needs.
India saw the issuance of 13 new utility-scale solar PV tenders totaling 11,945 MW in the quarter ending March 31, 2018, which is 68% more than in the entire of 2017. However, tender capacity for rooftop solar PV (greater than 1 MW in size) was down 50%, at 102 MW.
The Indian Ministry of New and Renewable Energy (MNRE) says the nation will exceed 175 GW of installed renewable energy capacity as plans for bidding for 115 GW of renewable power projects to March 2020 were announced. The target for PV parks has been increased from 20 GW to 40 GW with some 41 parks in 21 states – with aggregate capacity of more than 26 GW – already sanctioned.
Bloomberg New Energy Finance says EVs will make up 44% of all new vehicle sales in Europe by 2030, 41% in China, 34% in the US and 17% in Japan. India trails with only 7% forecast. Buses, globally, will go electric at great pace.
To smoothen this transition, the country needs to build fast solar PV-powered charging stations. In 2017, there were only 220-250 operational charging stations in India, compared to 56,000 petrol stations.
The 5 GW PV park, planned for the Dholera Special Investment Region of Gujarat, will become the world’s largest project of its kind, when complete. It is expected to attract an investment of US$3.7 billion and generate employment for more than 20,000 people, says Jai Prakash Shivahare, managing director at Dholera Industrial City Development Limited. He takes time out to speak to pv magazine about the mega solar project.
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