India is poised to equal China as a global leader in the renewable energy transformation, a US-based research institute said on Tuesday.
Half of the world’s 10 largest solar parks under construction are in India, says a report by the Institute for Energy Economics and Financial Analysis (IEEFA).Since its big entry a decade ago, China has led the global solar energy industry.
A massive manufacturing sector that has driven down costs and supportive government policies have helped it become the world’s largest producer of solar energy.
Neighbour India may have come to the party a little late, but is now racing ahead in terms of big projects. India’s scheme for development of solar parks is becoming a successful model to attract foreign capital, says the report titled Solar is Driving a Global Shift in Electricity Markets.
The world’s largest solar project at 2,225 megawatt (MW) is under construction at the Bhadla Industrial Solar Park in Rajasthan.
This is more than double the largest fully operational solar park in India, which is the 1,000 MW Kurnool Ultra Mega Solar Park in Andhra Pradesh. Also on the cards is a massive 5,000 MW solar park along the Gulf of Khambhat in Gujarat.
China still has the largest solar parks. Its 1,547 MW Tengger Desert Solar Park is the world’s biggest so far, but will be overtaken by Bhadla. The year 2017 saw the commissioning of the world’s largest floating solar project, Sungrow’s 40 MW park in Anhui Province in China. Two 150 MW floating solar projects are due for commissioning in China in 2018.