India’s solar power generation capacity has crossed 3,000 MW, reports Mercom Capital.
However, the entire capacity addition this year was 800 MW, lower than the value of 2013.
In 2014, India has witnessed installation of 734 MW, taking the overall installed capacity to more than 3,000 MW.
However, a 20 per cent drop was experienced from previous year, with 2014 making comparatively dull business at about 800 MW.
Land acquisition delays due to elections and insecurity caused by the anti-dumping case backed the slowdown, claims the report.
The capacity addition was nearly 1,000 MW last year and in 2015 the solar capacity addition is scheduled to be more than double to 1,800 MW.
Since the elections and after getting past the anti-dumping case, Indian solar industry is visibly upbeat, commented, Raj Prabhu, CEO, co-founder, Mercom Capital.
Recent cancellations of coal mining licenses by the Supreme Court amid rising coal imports and increasing costs, and continuing power shortages have all contributed to the positive momentum in the solar sector, Prabhu added.
The government is making efforts to increase power generation from renewable sources, especially solar energy.