Cumulative solar installations in India have reached 8,728 MW as of the end of October 2016 with 1,965 MW commissioned in the current financial year (FY). The Ministry of New and Renewable Energy (MNRE) is targeting installations to reach 12 GW by the end of the current financial year.
Various solar policies such as the National Thermal Power Corporation’s (NTPC) new projects program, the National Solar Mission (NSM) and state policies in Tamil Nadu, Andhra Pradesh, Punjab, Bihar, Telangana, Karnataka, Madhya Pradesh, Uttarakhand and Uttar Pradesh have helped boost installation numbers this financial year.
Compared to the April-October period in the FY 2015-16, installations have doubled so far this year with 1,965 MW compared to only 828 MW installed last year in the same period.
An MNRE official told Mercom that in the last financial year (2015-16) solar project commissioning picked up in the latter part of the year, contributing to the 2,300 MW installed during the last five months. Similarly, many projects have commissioning dates in the final months of this year, suggesting we will see an uptick in installations towards the end of the financial year.
The official also added that power purchase agreements (PPAs) for projects totaling 9,700 MW have been signed and the MNRE is depending on these to achieve the current financial year target.
Image credit: Pixabay
Saumy is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism & Mass Communication from the Manipal Institute of Communication at Manipal University. More articles from Saumy Prateek.