Q4 2019 RE update (Oct-Dec 2019)

wind solar

Q4 2019 RE update (Oct-Dec 2019)

Report summary

Installation trends

  • Cumulative: As of December 31, 2019, 34 GW of solar capacity and 38 GW of wind capacity is commissioned. Current pipeline of solar and wind projects stands at 32 GW which is likely to be commissioned in next 2-3 years.
  • Yearly: The utility-scale solar segment saw an addition of 7.5 GW in CY2019. In wind, 2.7 GW was added in CY2019.
  • Quarterly: In Q4 2019, 2,308 MW of solar and 817 MW capacity of wind projects were installed (increase of 40% from the previous quarter).

Projections

  • Yearly: In CY2020, about 15 GW of new capacity is expected to be added including 4 GW of wind sector installations and 11 GW of utility-scale solar installations.
  • Quarterly: In the next two quarters i.e. Q4 2019 and Q1 2020 are expected to add about 6 GW of new solar capacity and 2 GW of new wind capacity.

Quarterly market shares

  • Inverters: In Q4 2019, ABB and Sineng were the leading players in the central inverter category while Huawei and Growatt shipped the highest number of string inverters.
  • Modules: In Q4 2019, Znshine topped the module suppliers category with the highest supplies while Risen took the second position. Amongst the domestic suppliers, Waaree led the market with about 270 MW of shipment.
  • Turbine suppliers: In Q4 2019, Inox and Envision installed maximum wind turbines in India.
  • Project Developers: In Q4 2019, SB Energy and Acme installed maximum solar capacity, while Sprng Energy and ReNew commissioned the majority of the wind capacity.

Tenders

  • In Q4 2019, 41 tenders with the aggregate capacity of 4.5 GW were issued across the solar and wind sector.
  • In the rooftop solar segment, 23 new tenders under CAPEX (63 MW) and RESCO (59 MW) models were announced in Q4 2019.
  • In Q4 2019, about 3 GW capacity was auctioned, out of which only 1.9 GW has been allocated (~37% under subscription).

Financing

  • In Q4 2019, USD 1.4 billion of investments were done in Indian RE sector, which is significantly lower than the Q3 2019 investments (USD 4.3 billion)

Module price trends

  • In Indian market, polycrystalline module prices were about 18-20 US cents/ W in Q4 2019. This is a 9% annual decline from Q1 2019 prices.

Content

  • Installation trends
    • Cumulative installation trends
    • Yearly installation trends and projections
    • Quarterly trends
    • State-wise installations
  • Market shares
    • Inverter suppliers
    • Module suppliers
    • Project Developers
  • Tenders
    • New tenders issued
    • Successful auctions
    • Tariff trends
  • Equipment procurement in the next two quarters
  • Financing
  • Price trends
  • Quarterly import-export statistics
  • Policy & Regulations
  • Market Trends
  • Annexure
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