Solar Power Investment Opportunities In India

Not surprisingly this growth has coincided with a sharp increase in investment in the sector from both domestic and foreign sources.

Solar power investment opportunities in india.

Solar power capacity has increased by more than 11 times in the last five years from 2 6 gw to 28 18 gw in march 2019. Solar power in india is a fast developing industry. The indian renewable energy sector is the 4 th most attractive renewable energy market in the world. In 2015 the target was raised to 100 gw of solar capacity.

According to 2018 climatescope report india ranked 2 nd among the emerging economies to lead to transition to clean energy. Further to this record 100 bn units of renewable electricity generating last year. Solarpower europe s emerging markets task force s new report analysing solar investment opportunities in india. India ideally needs usd 30 billion investment per year in the renewable sector backed by a strong regulation to preserve contract sanctity according to a research organisation.

Solar power plant investment opportunity the solar sector has been witnessing significant foreign investor funding in the last couple of years with many firms already having a large solar portfolio of projects in the country solar is a 100 billion 6 lakh crore business revolution in india. The country s solar installed capacity was 35 122 mw as of 30 june 2020. Solar power plant investment opportunity in new delhi india solar epc company with confirmed order book of inr 50 crore from central government psus. Today we are averaging about usd 11 billion a year in renewable investments we ideally should be getting usd 30 billion per year in india arunabha ghosh chief executive officer of council on energy.

As of october 2018 india ranked 5 th in installed renewable energy capacity. Canadian solar is a canada based solar power company that designs manufactures and sells solar module products that convert sunlight into electricity the company posted a 66. The sector has seen more than 42 billion of investment since 2014 and around 7 billion of foreign direct investment fdi between april 2000 and june 2018 in 2017 18 total fdi in the sector surpassed 1 billion for the first time while in 2018 19 it grew. Hence both technology routes for conversion of solar radiation into heat and electricity namely solar thermal and solar photovoltaics can effectively be harnessed providing huge scalability for solar in india.

India has the lowest capital cost per mw globally of installing solar power plants. The indian government had an initial target of 20 gw capacity for 2022 which was achieved four years ahead of schedule. Therefore starting a solar business is a lucrative opportunity for entrepreneurs.