India’s installed solar capacity will probably cross the 9 GW threshold by March, bringing the country closer to Prime Minister Narendra Modi’s ambitious renewable energy targets, according to a government website.
India added about 5.25 GW of new solar capacity to the grid as of Jan. 31 after ending the previous year with 3.7 GW of installed capacity, according to data on the Ministry of New and Renewable Energy’s website. An additional 1.5 GW were installed at the Jawaharlal Nehru National Solar Mission.
Modi’s campaign to generate 100 GW of solar power by 2022 is elevating India into the ranks of the world’s top solar-power-producing nations. At 9.1 GW, the U.K. was the eighth biggest solar-power producer last year, according to Bloomberg New Energy Finance. India’s investment push has attracted companies including the SunEdison Inc, SoftBank Group Corpand Fortum OYJ.
Another 3.8 GW of solar projects should be commissioned by March 31, almost all of which will be through state-led policies, according to the website. The government said an additional 12 GW of capacity will be added in fiscal-year 2017, which begins April 1.
©2016 Bloomberg News
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