Solar projects equal to 40% capacity awarded since February
NEW DELHI: India’s solar power space has emerged as a bright spot for investors amid the global slowdown, with contracts for 14,000MW (mega watt) of new projects, roughly 40% of the current installed capacity, being awarded since the coronavirus pandemic hit the world, government data shows.
At a ballpark cost of Rs 4 crore per MW, one of the lowest in the world, the projects awarded since February would entail investments of Rs 56,000 crore. These include 8,000MW capacity with local manufacturing.
A majority of these bids were put in when economies across the world were under lockdown. India went into lockdown from March 25 and gradually started lifting the curbs from June.
