India’s new renewable energy capacity would rise by 50% in 2019 to 15.8 GW, according to a report by consultancy firm Bridge to India, after a year when investors discovered lower returns than expected and confusion over a tax policy hampered growth. The report said more than 30 developers were expected to start work on utility scale solar schemes. India is the world’s third-largest producer of photovoltaic (PV) cells but has struggled with oversupply as Chinese manufacturers have flooded into the market. India wanted 100 GW of renewable energy by 2022.
India’s new renewable energy capacity would rise by 50% in 2019 to 15.8 GW, according to a report by consultancy firm Bridge to India, after a year when investors discovered lower returns than expected and confusion over a tax policy hampered growth. The report said more than 30 developers were expected to start work on utility scale solar schemes. Apart from ground-based and rooftop schemes there could also be a rise in the number of floating solar projects and wind power schemes. India wanted 100 GW of renewable energy by 2022.