India Solar Map 2015

India’s solar PV projects pipeline exceeds 12 GW.

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Around this time last year, India announced its ambitious target to install 100 GW of solar by 2022 (refer). This target was then officially adopted by the Indian cabinet in June 2015 (refer). It is a good time to take stock and assess progress towards this target.

  • Investment appetite, particularly from international investors, in the sector has increased substantially
  • There has been considerable activity on operational front including policy formulation, project tenders and solar park development combined with rapid fall in the cost of solar power. But intense competition raises doubts on sustainability of new found price points
  • Distributed solar still lagging as there is relatively lower policy support and market momentum behind it


Earlier this month, India’s minister for new and renewable energy, Piyush Goyal, announced that the country’s rooftop solar policy is now ready to be placed before the union cabinet (refer). This policy is expected to lay out yearly targets to reach 40 GW of rooftop solar capacity and provide comprehensive details of operational and fiscal support for the rooftop solar market.

  • The Indian rooftop solar market grew 66% in the last 12 months despite the lack of any specific rooftop solar policy initiatives
  • The new rooftop policy is likely to consolidate and detail out already known aspects such as yearly targets, changes in capital subsidy scheme and schemes for low cost financing
  • If the new policy does not introduce mandatory rooftop solar installations for buildings, the policy release will likely be a non-event


Last week, the government unveiled its Ujwal DISCOM Assurance Yojana (UDAY), a scheme intended to find a permanent solution to the financial mess facing the power distribution companies (DISCOMs) in the country. The key planks of the scheme are getting state governments to assume 75% of total debt obligations of their respective DISCOMs and getting banks to reduce interest rates on the remaining DISCOM debt.

  • A successful revival of the power distribution sector is vital for the success of Indian power sector and it is important to learn lessons from the failure of many similar restructuring packages announced in the past, most recent being central government’s financial restructuring package (FRP) in 2013.
  • DISCOMs can only return to profitability if serious tariff reforms are taken up along with the measures suggested in the package
  • In an encouraging move, the central government has linked availability of various central government funds such as Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) and Integrated Power Development Scheme (IPDS) to the successful implementation of UDAY


First round bid results have been released today for the 500 MW National Solar Mission (NSM) tender in Andhra Pradesh. Bids were submitted for over 5.5 GW by 30 developers with tariffs ranging between INR 5.21/kWh and INR 6.45/kWh. 28 developers have been selected to move to the second round of electronic bidding and the highest qualifying bid to move into the second round stands at INR 6.01/kWh.

  • The winning bids in the online bidding tomorrow will be INR 5.37/kWh or lower
  • If there was no requirement for these projects to be inside a solar park, the cost-adjusted maximum tariff could have been INR 5.11/kWh
  • BRIDGE TO INDIA believes that in view of around 5 GW of projects due for auction in the next 3 months, such aggressive bidding is unlikely to continue


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