Shining brightly

India Investment Journal May Edition, Flagship Scheme
India’s solar power sector is growing at a fast clip, helped by robust foreign and domestic investor appetite for new projects and the country’s massive 750 GW solar power potential. But it also faces significant challenges from the infirm nature of solar energy and prices falling to levels that may impact financial viability.

India’s steroid-charged solar power capacity addition will take it past Japan as the world’s third largest solar market. India, which crossed 12 GW of solar power capacity in 2016-17, is expected to add about 15 GW more in the current fiscal.

Minister of State for Power, Renewable Energy and Coal told the Rajya Sabha, India’s Upper House of Parliament that the country would add 10,000 MW from largescale solar power projects and 5,000 MW from solar rooftop projects this year.