Rating agency ICRA said Tuesday that it has estimated 7-7.5 GW solar power capacity addition during the current financial year, which includes 1 GW of rooftop solar.
"The domestic solar power capacity addition is expected at around 7 GW to 7.5 GW (including around 1 GW of rooftop solar capacity) in FY 2020 as per an ICRA note, based on tendering and awards of projects in the last 12-15 months," the rating agency said in a statement.
By contrast, solar capacity addition is estimated to have remained subdued at around 6 GW to 6.5 GW in the financial year 2018-19 due to weak trend in award of solar projects in the calender year (CY) 2017, according to the statement.
Girishkumar Kadam, sector head and vice-president (corporate ratings), ICRA, said in the statement, "Tendered project awards for solar PV (photovoltaic) projects during CY 2018 stood at about 11 GW against 4.5 GW in CY 2017, providing a healthy pipeline for capacity addition over the next 2-year period."
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