5.5 GW solar installed in India in FY2021: According to JMK Research, in FY2021 (period between April 2020 and March 2021), India installed 5.5 GW of new solar PV capacity, comprising both utility scale installations of 3.5 GW and around 2 GW of rooftop solar. While utility scale solar registered a decline of 39% on YoY basis, rooftop solar capacity increased despite COVID-19 related restrictions for a large part of the year thanks mainly to deployments in Gujarat and Maharashtra. In FY2022 (period between April 2021 and March 2022), the analysts forecast India to install around 10 GW new PV capacity, comprising close to 2.5 GW to 3.0 GW of new rooftop PV.
For wind power it said in FY 2021, 1.5 GW capacity was added with 28% annual drop, and in FY 2022, 3.5 GW may come up. JMK Research however expects delay for 3 GW to 4 GW solar and wind power capacity commissioning due to labor shortage and equipment supply delay due to current COVID-19 related lockdowns in several states.
No power sale agreements for 7 GW RE capacity: As much as 7 GW of renewable energy capacity bid out in India before February 2020, is still without any power sale agreements (PSA), according to CRISIL, which it fears may lead to a 35% shortfall in 160 GW renewable energy capacity the country targets to achieve by the end of calendar year 2022. This list includes projects auctioned by the Solar Energy Corporation of India (SECI), and the National Thermal Power Corporation (NTPC).
Analysts see the reason behind this in higher tariffs than what was achieved in subsequent auctions. "Of this, nearly 3 GW run the risk of re-auction or cancellation because their tariffs are comparatively higher at over INR 2.75 per unit—a good INR 0.75 more than the recently discovered tariffs." For the remaining 4 GW, as per CRISIL, there maybe some hope due to a potential INR 0.25 to INR 0.75 increase in tariffs at the upcoming auctions thanks to Basic Customs Duty (BCD) that new projects may have to pay.
Another anti-dumping investigation for imported cells: The Ministry of Commerce and Industry has launched an anti-dumping investigation into imports of solar cells whether or not assembled into modules or panels, from China, Thailand and Vietnam, acting on an application filed by the Indian Solar Manufacturers Association (ISMA). The initiation notification issued by the Directorate General of Trade Remedies (DGTR) shows ISMA having filed the application on behalf of the following:
In its investigation, DGTR said it would determine the existence, degree and effect of any alleged dumping of the said product, and to recommend the amount of anti-dumping duty (ADD) if levied, to remove the injury to the domestic industry.
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