India's Solar Energy Sector Sees Rapid Growth
India's Solar Energy Sector Sees Rapid Growth
India's Solar Energy Sector Sees Rapid Growth
News summary

India's solar energy sector is poised for significant growth, with a report from SBICAPS indicating the need to double current solar capacity additions to meet a target of 293 gigawatts by 2030. Approximately 15 gigawatts were added in the last financial year, driven by both utility-scale and new segments like commercial, industrial, and rooftop solar, which contribute about 30% of total capacity. Meanwhile, Uttar Pradesh aims to generate 22,000 megawatts of solar energy by 2026-27, supported by robust policy measures and substantial investments. Candi Solar India plans to achieve 200 megawatts of solar installations by mid-2025, expanding its operations in India and South Africa. In New Zealand, a $78 million investment by NZGIF in Far North Solar Farm aims to provide 15% of the country’s daytime electricity, showcasing a global trend towards renewable energy investments. However, challenges such as insufficient domestic manufacturing and reliance on imports for solar components persist in both nations.

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