Connect with us

Business

China and India Lead Global Solar Power Expansion as Costs Fall

mm

Published

on

The Smarter way to get your business news – Subscribe to BloombergQuint on WhatsApp

(Bloomberg) — India and China are driving a rapid global expansion in large-scale, solar power developments as the cost of building new projects falls, according to an analysis by Institute for Energy Economics and Financial Analysis.

“Solar energy is taking an increasingly prominent role in driving the ongoing transformation of global electricity generation markets alongside gains in storage, wind, hydroelectricity and energy efficiency,” IEEFA said in a report.

The world’s largest operating utility-scale solar projects are concentrated in China and India, according to IEEFA. Based on company and press reports, as well as its own estimates, those include:

Ranking Project Name Size MW Country Proponent
1 Tengger Desert Solar Park 1,547 China China National Grid Zhongwei Power Supply Co
2 Kurnool Ultra Mega Solar Park 1,000 India Andhra Pradesh Solar Power Corporation Pvt Ltd
3 Datong Solar Power Top Runner Base 1,000 China Multiple
4 Yanchi Ningxia Solar Park 1,000 China Huawei Technologies Co
5 Longyangxia Dam Solar Park 850 China State Power Investment Corporation (China)
6 Adani Kamuthi Solar Plant 648 India Adani Green
7 Solar Star 579 U.S. BHE Renewables
8 Topaz Solar Farm 550 U.S. First Solar
9 Desert Sunlight Solar Farm 550 U.S. NextEra Energy, GE Energy Financial & Sumitomo
10 Nova Olinda Solar Farm 292 Brazil Enel Green Power

China added 53 gigawatts of the 98 gigawatts of new solar capacity built last year, a 31 percent increase from the total 2017, IEEFA said, citing Bloomberg New Energy Finance data. Meanwhile, the per unit cost of electricity over the life of a generating asset fell 15 percent year-on-year to $86 a megawatt hour.

To contact the reporter on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net

To contact the editors responsible for this story: Ramsey Al-Rikabi at ralrikabi@bloomberg.net, Aaron Clark, Abhay Singh

©2018 Bloomberg L.P.

The Smarter way to get your business news – Subscribe to BloombergQuint on WhatsApp

. Read more on Business News by BloombergQuint.

Amit Iyer being inspired by Robert is also a college dropout. He possesses the skill of quick grasping which has been a great asset to Bittmint. A true Digital Marketing Prodigy and financial investor. He specializes in SEO and is also working on many freelance projects. At the age of 18, he is the youngest contributor at Bittmint.

Continue Reading

Trending