Top 10 players consolidating solar market in India: Report

New Delhi: The renewable energy market in India continues to develop at a quick tempo with the nation commissioning 7.three GW of solar energy tasks in the calendar yr 2019, consolidating its place because the third-largest solar market in the world.
According to a report by world clear power communications and consulting agency Mercom, the speedy tempo of development of solar market has largely been led to by massive players with high 10 firms accounting for 68 per cent market share in 2019.

The ‘India Solar Market Leaderboard, 2020’ report places ReNew Power as the highest utility-scale developer throughout 2019, whereas Azure Power owns the most important undertaking pipeline.

It stated that India additionally had a sturdy pipeline of utility-scale tasks below growth of 23.7 GW on the finish of 2019, with one other 31.5 GW of tenders pending public sale.

“The solar market leaders have changed in almost every category compared with last year. With a tough year ahead, we expect strong, resilient, and innovative companies continue to do well,” stated Raj Prabhu, CEO of Mercom Capital Group, the guardian of Mercom Communications.

The report reveals that there are round 29 large-scale solar builders with a undertaking pipeline of 100 MW or extra in India.

Large-scale solar installations in 2019 accounted for 85 per cent with 6.2 GW. Also, solar accounted for 41 per cent of latest energy capability additions in 2019 behind coal which accounted for 44 per cent.

Companies providing engineering, procurement, development (EPC) companies noticed a number of tasks moved to 2020 on account of delays attributable to basic elections, land, and evacuation points, amongst others. Mahindra Susten was the highest EPC participant for utility-scale solar installations in 2019, adopted by L&T, the report stated.

Tata Power Solar had the most important cumulative rooftop portfolio, adopted by CleanMax Solar. At the tip of 2019, the highest ten rooftop solar installers represented 34 per cent of the full rooftop solar market share. In 2019, the rooftop solar market development got here down by 33 per cent in comparison with CY 2018, the report added.

Huawei led the solar inverter market in India in 2019, adopted by Sungrow. Other high string inverter suppliers included Growatt, Solis Inverters, and Delta Power Solutions.

At the tip of December 2019, Trina Solar was the main module provider to India in phrases of cumulative shipments, whereas Waaree Energies, Adani, and Risen Energy held the highest spot in CY 2019. The high ten module suppliers accounted for over 62 per cent of the market in 2019.

Ganges Internationale was the highest provider of solar mounting constructions in 2019, adopted by Purshotam Profiles and Strolar. Scorpius Trackers was the highest provider of solar trackers in 2019.

Rays Power Experts and CleanMax Solar had been the highest open entry builders as of December 2019.

Ecoppia was the highest provider of solar robotic cleansing methods as of December 2019.

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