With project timelines getting extended due to the COVID-19 pandemic, India is expected to add only 5,000 MW of solar capacity in 2020, nearly 32 per cent lower than last year, a report has said.
India added 1,080 MW solar capacity in the first quarter of 2020, which is the lowest in a quarter since October-December (Q4) 2016, industry tracker Mercom said in a report.
Solar installations during the January-March quarter were down 39 per cent as compared to 1,761 MW added in the corresponding period last year.
The country added 7,346 MW solar capacity in 2019.
“The lockdown in the country disrupted the supply chain, lowered power demand, resulted in currency fluctuations making component costs unpredictable, and has exacerbated the liquidity issues,” Mercom Capital Group Chief Executive Raj Prabhu said.
