India adds 3.6 GW solar open access in H1 2024, up 153% year-on-year
10 Sep 2024
2 Min Read
CW Team
India installed 3.6 GW of solar open access capacity in the first half of 2024, marking a 153% increase compared to 1.4 GW during the same period in 2023, according to Mercom India?s Q2 2024 Solar Open Access Market Report. The report highlighted that the capacity added in the first half of 2024 surpassed the total annual installations of previous years, indicating the growing demand for open access solar from industrial and commercial units.
The surge in installations was attributed to the availability of low-cost solar module inventory, which had been procured before the ALMM (Approved List of Models and Manufacturers) exemption expired. However, the report noted that capacity additions slowed in Q2 2024 as developers postponed installations due to uncertainties surrounding ALMM exemptions. India added 1.8 GW of solar open access capacity in Q2 2024, which represented a slight 2.5% decrease from Q1, but a significant 152% year-over-year (YoY) increase compared to the 712.8 MW installed in Q2 2023.
Karnataka led in solar open access installations in Q2 2024, accounting for over 40% of the total. Alongside Karnataka, Maharashtra and Tamil Nadu were among the top five states, contributing to more than 85% of the quarter?s total capacity additions.
As of June 2024, the cumulative installed solar open access capacity reached 16.3 GW, with Karnataka maintaining its lead by accounting for over 30% of the total installations. Maharashtra and Tamil Nadu followed, with nearly 14% and 11% of cumulative capacity, respectively. The pipeline for solar open access projects under development and pre-construction stood at nearly 23 GW by June 2024, with Rajasthan, Karnataka, Andhra Pradesh, Maharashtra, and Tamil Nadu hosting more than 81% of these projects.
In the Green Day-Ahead Market (G-DAM), Adani Green emerged as the top seller, contributing over 29% of electricity sold, while Arcelor Mittal Nippon Steel was the leading procurer, purchasing nearly 20% of the electricity
India installed 3.6 GW of solar open access capacity in the first half of 2024, marking a 153% increase compared to 1.4 GW during the same period in 2023, according to Mercom India?s Q2 2024 Solar Open Access Market Report. The report highlighted that the capacity added in the first half of 2024 surpassed the total annual installations of previous years, indicating the growing demand for open access solar from industrial and commercial units.
The surge in installations was attributed to the availability of low-cost solar module inventory, which had been procured before the ALMM (Approved List of Models and Manufacturers) exemption expired. However, the report noted that capacity additions slowed in Q2 2024 as developers postponed installations due to uncertainties surrounding ALMM exemptions. India added 1.8 GW of solar open access capacity in Q2 2024, which represented a slight 2.5% decrease from Q1, but a significant 152% year-over-year (YoY) increase compared to the 712.8 MW installed in Q2 2023.
Karnataka led in solar open access installations in Q2 2024, accounting for over 40% of the total. Alongside Karnataka, Maharashtra and Tamil Nadu were among the top five states, contributing to more than 85% of the quarter?s total capacity additions.
As of June 2024, the cumulative installed solar open access capacity reached 16.3 GW, with Karnataka maintaining its lead by accounting for over 30% of the total installations. Maharashtra and Tamil Nadu followed, with nearly 14% and 11% of cumulative capacity, respectively. The pipeline for solar open access projects under development and pre-construction stood at nearly 23 GW by June 2024, with Rajasthan, Karnataka, Andhra Pradesh, Maharashtra, and Tamil Nadu hosting more than 81% of these projects.
In the Green Day-Ahead Market (G-DAM), Adani Green emerged as the top seller, contributing over 29% of electricity sold, while Arcelor Mittal Nippon Steel was the leading procurer, purchasing nearly 20% of the electricity
Next Story
Reliance, Diehl Advance Pact for Precision-Guided Munitions
Diehl Defence CEO Helmut Rauch and Reliance Group鈥檚 Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence鈥檚 long-term commitment to the Indian market and its support for the Indian Government鈥檚 Make in India initiative. The partnership鈥檚 current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the 鈥淰ulc..
Next Story
Modis Navnirman to Migrate to Main Board, Merge Subsidiary
Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company鈥檚 growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..
Next Story
Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025
The Bharat InvITs Association鈥檚 industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States鈥� share of global activity below 15 per cent. Meanwhile, in..
