On a yearly basis, India commissioned 35 GW of solar capacity and 38 GW of wind capacity as of March 31, 2020. However, the current pipeline of solar, wind and hybrid projects stood at 37 GW which is likely to be commissioned in the next 2-3 years. While, another 34 GW of projects are under bidding phase where tenders are issued but auctions are not completed, according to the JMK Research & Analytics report.
Also, the utility-scale solar segment saw 5.7 GW of capacity addition, as against merely 2.1 GW was added in wind energy in FY2020.
On next two-quarters projection, the Gurgaon based company predicted that the new solar and wind energy capacity additions are expected to remain about 1.7-2 GW and 0.8 GW respectively in next two quarters i.e. Q2 2020 and Q3 2020.
While on yearly projections, in CY2020 (Jan-Mar 2020), about 5.5 GW of new solar energy capacity and 1.5 GW of wind energy capacity is expected to be added. However, in FY2021, about 6.5 GW of solar and 2.2 GW of wind is expected to be added, the report estimated.
On quarterly market shares for inverters segment, in Q1 2019, Kehua and Sungrow were the leading players in the central inverter category while Sungrow shipped the highest number of string inverters, added the report.