As India’s second wave of Covid-19 subsided, renewable capacity commissioning began to bounce back. A total of 8.6GW of renewable energy (RE) capacity – 7.6GW of which was solar – was installed in the first seven months of FY2021/22. This is a material uplift compared to year-on-year renewable installs of 5.7GW in FY2019/20 and 2.6GW in FY2020/21.
Investment in the RE sector also picked up significantly during the first seven months of FY2021/22, reaching US$14.2 billion, compared to US$5.1 billion in FY2019/20 and US$1.8 billion in FY2020/21 for the same period.
Solar developers have been making the most of a “duty-free” window to import modules since July 2021, when a two-and-a-half year-long solar anti-dumping duty regime on imported solar cells and modules ended.
