Q3 2020 India RE update (Jul- Sep 2020)
- Cumulative: As of September 30, 2020, 36 GW of solar capacity and 38 GW of wind capacity is commissioned. The current pipeline of solar, wind and hybrid projects stands at 49 GW while 18 GW of projects are under bidding phase where tenders are issued but auctions are not completed
- Yearly: From Jan-Sep 2020, about 1.4 GW of new utility-scale solar capacity and 619 MW of wind capacity was added. On the rooftop solar side, about 883 MW of new capacity was added
- Quarterly: In Q3 2020, 545 MW of solar (increase of 80% from previous quarter) and 295 MW of wind capacity (increase of 118% from Q2 2020) was added.
- Yearly: In CY2020 (Jan-Dec), about 2.8 GW of new utility scale solar capacity and 1.2 GW of wind is expected to be added. While in CY2021, about 8.8 GW of new solar capacity and 2.3 GW of new wind capacity is expected to be installed
- Quarterly: In the next two quarters i.e. Q4 2020 and Q1 2021 are expected to add about 4 GW of new solar capacity, 1.8 GW of new wind capacity and 790 MW of hybrid wind-solar capacity.
Quarterly market shares
- Inverters: In Q3 2020, Sungrow was the leading player with more than 1 GW shipment across central and string inverter category
- Modules: In Q3 2020, Longi was the leading supplier contributing 30% share of total shipments. About 50% of all shipments done in Q3 2020 were of mono PERC modules.
- In Q3 2020, 32 new tenders aggregating to a total capacity of 7.2 GW were issued across solar and wind segment.
- In the rooftop solar segment, 10 new tenders of 40 MW were issued.
- In Q3 2020, about 4.74 GW capacity was auctioned, out of which only 3.18 GW has been allocated.
The investment flow in the RE sector in Q3 2020 (USD 409 million) was marginally higher than the investments in Q2 2020 (USD 397 million)
Module price trends
In the Indian market, the price for Chinese multi crystalline modules (excluding GST and safeguard duty), was about 17.5 -18.2 US cents/ Wp in Q3 2020. This is about 13% decline from Q3 2019 prices. Prices for mono modules is about 20-21 US cents/ Wp in Q3 2020.
Import Exports trends
In Q3 2020, imports of solar modules increased by 87% while exports have fallen by 31% compared to Q2 2020 trade figures.
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