About 10 GW solar, 3.5 GW wind capacity addition likely in 2022: Report

About 10 gigawatt (GW) of new utility-scale solar and 3.5 GW of new wind capacity is estimated to be installed in the financial year 2021-22 (FY22), according to a recent market update by JMK Research.
This is about 25 per cent less than its initial estimate made before the second wave of COVID-19 hit India.
The report added that in FY21, about 3.5 GW of new utility-scale solar capacity was added, which is 39 per cent lesser than the FY20 installations. While, despite COVID-induced lockdowns and restrictions, about 2 GW of new rooftop solar capacity was added in FY21.
It estimated that about 2.5 GW to 3 GW of new rooftop solar capacity would be added in FY22.
According to the equipment shipment data received by JMK Research, in the first quarter (Q1) 2021, about 3.8 GW of central and string inverters were supplied in India while more than 3.9 GW of modules were shipped.
On this basis, the firm estimates that in Q2 2021 and Q3 2021, about 6 GW of new solar capacity and 1.8 GW of new wind capacity will be commissioned. It added that installation activity would pick up in Q2 2021, with an estimate of 3 GW of new utility-scale solar capacity and 0.85 GW of new wind capacity addition and 0.6 GW of hybrid capacity.
“As of March 31, 2021, India’s total renewable capacity installation reached 94.4 GW… The current pipeline of solar, wind and hybrid projects stands at 60 GW which is likely to be commissioned in the next three to four years,” the research firm said in its Q1 2020 market update released on Thursday.
While, another 26 GW of projects were under the bidding phase, where tenders are issued but auctions are not completed.
It added that in Q1 2021, 2.2 GW of utility-scale solar capacity was installed. This was about 45 per cent higher than the previous quarter installations. While, in wind, about 800 MW were added, which was 60 per cent higher than the Q4 2020 installations.