India solar soars as officials look to doubling targets
India expects to have 10 GW of solar power capacity by 2017, more than double what it initially targeted, as the industry ramps up quicker than predicted, according to a Bloomberg report.
The Ministry of New and Renewable Energy plans to award permits for as much as 10,000 MW of grid-connected solar plants by 2017, up from its initial target of 4,000 MW, Bharat Bhargava, a director at the ministry, said at conference in the southern city of Hyderabad. It’s also doubling its target for off-grid solar plants to 2,000 MW, he said.
"Based on present trends, 10,000 MW is achievable,” Bhargava said. India’s total solar installations reached 125 MW as of the end of October, he said. That’s more than double the 50 MW that the country had in June.
Interest from solar power developers exceeded the amount of available capacity on offer by more than seven times for India’s next auction of permits, Bhargava said. The ministry has received 218 applications seeking to build 2,500 MW of solar plants.
The ministry is only awarding 350 MW in the second auction due to be completed this month. Winners of that round will sign power purchase agreements by the end of the year and complete the plants by January 2013, he said.