IBEF: April 30, 2020
In the calendar year 2019, India installed 7.3 GW of solar power across the country, establishing its position as the third-largest solar market in the world.
According to a study by Mercom Communications India, a subsidiary of global clean energy communications and consulting firm Mercom Capital Group, India also had a robust pipeline of utility-scale projects under development of 23.7 GW at the end of 2019, with another 31.5 GW of tenders pending auction.
“The solar market leaders have changed in almost every category compared with last year. With a tough year ahead, we expect strong, resilient, and innovative companies continue to do well,” said Mr Raj Prabhu, CEO of Mercom Capital Group.
The report added that the top 10 large-scale project developers account for 68 per cent market share in 2019. During 2019, ReNew Power was the top utility-scale developer, while Azure Power owns the largest project pipeline.
In India, there are about 29 large-scale solar developers with a project pipeline of 100 MW or more.
In 2019, large-scale solar installations accounted for 85 per cent with 6.2 GW. Additionally, solar accounted for 41 per cent of new power capacity additions in 2019 behind coal which accounted for 44 per cent.
There was delay in lot of projects in companies offering engineering, procurement, construction (EPC) due to delays caused by general elections, land and evacuation issues among others. In 2019, Mahindra Susten was the top EPC player for utility-scale solar installations, followed by L&T.
The largest cumulative rooftop portfolio is by Tata Power Solar, followed by CleanMax Solar. At the end of 2019, the top 10 rooftop solar installers represented 34 per cent of the total rooftop solar market share. In 2019, the rooftop solar market growth came down by 33 per cent compared with CY 2018.
The solar inverter market was led by Huawei in 2019, followed by Sungrow.
Other top string inverter suppliers included Growatt, Solis Inverters, and Delta Power Solutions.
Trina Solar was the leading module supplier to India in terms of cumulative shipments at the end of December 2019, while Waaree Energies, Adani, and Risen Energy held the top spot in CY 2019. In 2019, the top 10 module suppliers accounted for over 62 per cent of the market.
The top supplier of solar mounting structures in 2019 was Ganges Internationale, followed by Purshotam Profiles and Strolar. The top supplier of solar trackers was Scorpius Trackers in 2019.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.