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India ranked second in Solar index and third in Ernst & Young All Renewables Index

India stands third tied with Germany behind China and the United States of America, in Ernst & Young’s Country Attractiveness Indices for the world renewables market.

According to the report, the Indian solar market has benefited from an amended RPO and other financial support. Interestingly, India scores better than China and Germany in the solar index only behind USA.

India continues to remain in the fifth position in Wind, behind China, UK, USA and Germany.

  Panchabuta had discussed in detail about the excellent progress in the biomass targets for the current plan period and provided a detail analysis of the commissioned and under implementation projects in an earlier essay. Subsequently, India set a target of 10,000MW of small biomass projects of capacity 1-2MW in 10 years.

The wind installations in India has received a much-needed impetus with the  Generation Based Incentives (GBI) scheme for grid connected wind power projects with the objective of broadening the investors base by attracting FDI and independent power producers.

 As readers of Panchabuta are aware, India had 11,800 MW of wind power installed at the end of March 2010 according to the Indian Wind Energy Association, making it the world’s fifth largest wind power market.

The  installation  in India being range bound  between 1470-1750MW  a year over the last five years and the installed capacity for 2009-10 was around 1565MW. This year the expected capacity is close to around 2200MW according to officials and around 450 MW is expected to be covered under GBI.

Solar in India has witnessed a lot of project announcements and PPA’s signed under various schemes.  Under the Jawaharlal Nehru National Solar Mission,  37 developers for a aggregated capacity of 620MW have been shortlisted and PPA’s signed by all but one of the developers.

Gujarat that has been in the forefront of Solar energy development has released a state specific  solar policy with an ambitious target of installing 1,000 Mw solar power capacity by the end of 2012 and 3,000 Mw in next five years. The state has already signed PPAs for about 934MW.

There is a lot more projects that are expected to be announced in Solar this year with the state of  Rajasthan expected to come out with a policy for a planned capacity 550MW for which there could be a reverse bidding process to short list the developers like the National Solar Mission.

Gujarat is set to make the third round of allotments and the part two of the first phase of the Solar Mission set to come out with a capacity allocation of about 296MW in Solar PV sometime in April this year. It based on these assumptions probably that the country has been ranked so highly by Ernst & Young in the solar index.

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