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India adds record 10 GW of solar capacity in Q1 of 2024
This figure represents an almost 400 per cent year-over-year (YoY) increase compared to the over 2 GW installed in Q1 2023
Priya Sanjay, Managing Director of Mercom India, said, "The surge in installations in Q1 2024 was driven by the commissioning of several delayed projects that had received extensions in previous quarters due to high module prices. Assuming stability in policy and supply chains, and if government agencies continue to auction projects and meet the set targets, India is poised to be among the top three solar markets globally", commented Raj Prabhu, CEO at Mercom Capital Group. According to Priya Sanjay, Gujarat's proactive approach to renewable energy, especially with residential solar and wind-solar hybrid power projects, enabled it to overtake Karnataka.
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