Solar power output capacity to double to 6 GW
India’s solar power generation capacity is expected to double to 6 GW by the end of 2015, according to solar power consultancy firm Bridge to India. So far, in the first three months 700MW of capacity has been added and work is on in another 1GW. I think by the end of the year 3GW will be added which would double the current capacity,” Tobias Engelmeier, Founder and Director, Bridge to India told BusinessLine.
While expressing doubts about the Ministry of New and Renewable Energy’s ability to develop a healthy market for solar power generators, Engelmeier said the influx of foreign funds into the sector is a healthy sign. “There is a long way to go. But foreign investment in the sector is a healthy sign of a market developing. Right now, half of the solar power projects have international backers. Although the private power purchase agreement segment is small, 90 per cent of all projects here are internationally backed,” he added. On equipment manufacturing, Engelmeier said India should focus on getting quality solar photovoltaic modules at the best rates rather than get stuck on manufacturing these in India.