Operational capacityfor districts

>501 MW201 - 500 MW101 – 200 MW

41 – 100 MW0 - 40 MW

GUJARAT

MAHARASHTRA

KARNATAKA KERALA

MADHYA PRADESH

RAJASTHAN

HARYANA

UTTARAKHAND

UTTAR PRADESH

BIHAR

CHHATTISGARH

ODISHA

TAMIL NADU

ANDAMAN &NICOBAR ISLANDS

TELANGANA

www.bridgetoindia.com

INDIA SOLARMAP 2018

ANDHRA PRADESH

PUNJAB

WEST BENGAL

225

153

300

357

8

JHARKHAND

MARCH

Pipeline2,059

Comm.1,855

1,434

221

1955 10

11

200

559

1,50

0

559

415

285

169

3

105

367

4040 80

Pipeline120

Comm.785

1,9121,200

355

28473

1,50

0

1,50

0

110278

Pipeline1,500

Comm.2,300

1,572

605

93010

2,031

1,273

1,595

Pipeline1,313

Comm.5,198

4040

539

332

495

315

4

220

Pipeline854

Comm.1,366

54

30

5

11

830

10

20

260260

556Pipeline280

Comm.94

Comm.192

105

5

7

80

100Pipeline500 Comm.

1,401

1,081

290

290

500

30

Pipeline30

Comm.45

20

2

2

23

30

2,469

362453

400 194

30

Pipeline240

Comm.3,284

786

17

17

13

Comm.816

21

10

8

30 11

Comm.59

234

55

Comm.239

5

16

16

Comm.21

6

26 50 50Comm.82

Comm.125

120

5

5

Comm.5

Pipeline20

5

2020

5

Project developers

FIRST SOLAR 0.66%

OTHERS 14.67%

12.

27%

AD

ANI

6.99% RENEW

6.19% ACME

5.07% HERO

4.00% SUZLON 3.68% SHAPOORJI PALLONJI

3.04% GREENKO

2.79% TATA POW

ER

2.74% AZU

RE

2.46% SK

YPOW

ER

2.43% M

YTRAH

ES

SEL

INFR

A 2

.41%

EN

GIE

2.3

5%

RAT

TAN

INDI

A 2

.30%

AM

PLUS

2.25

%

CLEANM

AX 2.2

0%

NTPC 2.19% EQUIS 1.64%

AVAADA 1.59% ORANGE 1.53% RISING SUN 1.53% NLC 1.42%

SOLAR ARISE 1.20%

MAHINDRA 1.12%

EMBASSY 1.10%

FORTUM 1.10%

ADITYA BIRLA 0.99%

PRESTIGE GROUP 0.99%

CANADIAN SOLAR 0.88%

GIPCL 0.88%

THINK ENERGY 0.88%

ATHA GROUP 0.77%

GOLDEN HATCHERIES 0.66%

KARVY 0.66%

ATRIA 0.66%

Module suppliers(estimated DC size - 10,725 MW)

OTHERS 13.87%

12.9

6% C

ANAD

IAN

SO

LAR

11.44% JA SOLAR

7.99% TRINA SOLAR

6.80% RISEN ENERGY

5.30% GCL

4.53% FIRST SOLAR

4.17% TALESU

N

JINKO

3.0

5%AD

ANI S

OLAR

3.6

5%HANWHA 2.

75%

TATA POWER 2.50%WAAREE 2.40%

SUNTECH 2.35%CHINT SOLAR 2.33%RENESOLA 2.07%

LONGI 1.73%

SERAPHIM 1.62%

YINGLI 1.28%

BHEL 1.23%

LANCO 0.93%

HT-SAAE 0.91%

BYD 0.81%

VIKRAM SOLAR 0.78%

HAREON 0.77%

EMMVEE 0.48%

ALPEX 0.31%

ZNSHINE 0.28%

PREMIER SOLAR 0.26%

SOVA 0.21%

ET SOLAR 0.20%

Inverter suppliers EPC contractors

OTH

ERS 7.48%

19.6

8% A

BB

16.78% HUAWEI

13.52% SUN

GROW

TM

EIC

11.1

5%

SMA 9.70%

HITACHI 6.58%

TBEA 4.00%

SCHNEIDER 3.98%

GE 3.53%

GAMESA 1.64%

DELTA 0.72%

FRONIUS 0.66%

SINENG 0.26%SOLIS 0.08%

VACON 0.07%

K-STAR 0.01%

OTHERS 11.23%

13.3

5% S

TER

LIN

G &

WIL

SON

3.23

% M

AHIN

DRA

SUST

EN

2.78%

TATA

POW

ER

2.30% JUWI

2.08% L&T

2.00% B-ELECTRIC

1.73% BHEL

1.64% GAMESA

1.53% RAYS POWER EXPERTS

1.18% RAYS POWER INFRA1.15% VIKRAM SOLAR 1.15% JAKSON 1.10% LANCO 0.77% ORIANO SOLAR

0.52% UJAAS0.44% VIVAAN

0.37% PREMIER SOLAR

0.33% ENRICH

0.27% HARSHA ABAKUS

0.25% WAAREE

SELF

EPC

50.

59%

Comm.2,282

Pipeline1,100

683

184

600

250

350

500

1,415

12

268

1,083

50

160 173

225

764715

19

30

Pipeline160

Comm.1,162

Centralgovernmenttenders7,864

Others223

NTPC offtake3,435

Stategovernment tenders

5,007

Centralgovernment

tenders3,179

Public sectordevelopment1,191

SECI offtake3,015

Commissioned21,346

Pipeline8,185

State governmenttenders10,218

Others3,264

SECI offtake2,350

NTPC offtake250

Public sectordevelopment

579

Total utility scale solar capacity as of March 31, 20181

All figures in MW

Leading players1

(projects commissioned in FY 2017-18 totaling 9,171 MW)

200 MW

375 MW

70 MW100 MW

770 MW

Domestic manufacturers

Huawei inverters capacity commissioned

in the state

Policies . Tenders . Projects . Market playersPrice trends . News and special comment

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Top 10 players(projects commissioned in FY 2017-18)

Previousyear rank

4

3

5

-

-

-

1

7

8

-

Previousyear rank

4

9

1

3

7

5

6

-

2

-

Previousyear rank

1

10

5

2

4

3

7

6

-

-

Previousyear rank

1

2

3

-

-

-

-

-

10

6

Increase/ Decrease

Project developers Module suppliersIncrease/ Decrease

Inverter suppliersIncrease/ Decrease

EPC contractorsIncrease/ Decrease

Current rank

1

2

3

4

5

6

7

8

9

10

CompanyName

Adani

ReNew

Acme

Hero

Suzlon

Shapoorji Pallonj

Greenko

Tata Power

Azure

Skypower

Company Name

Canadian Solar

JA Solar

Trina Solar

Risen Energy

GCL

First Solar

Talesun

Jinko

Hanwha

Adani Solar

Company Name

ABB

Huawei

Sungrow

TMEIC

SMA

Hitachi

TBEA

Schneider

GE

Gamesa

Company Name

Sterling & Wilson

Mahindra Susten

Tata Power

Juwi

L&T

B-Electric

BHEL

Gamesa

Rays Power Experts

Rays Power Infra

74%

13% 10%3%

Notes

1. Methodology a. BRIDGE TO INDIA has conducted an extensive data collection exercise and relied on multiple market sources including project developers, equipment suppliers and state nodal agencies to provide accurate, factual information as far as possible. Some suppliers were either unreachable or did not validate the data available with us. All data has been cross-referenced with data provided by government departments and other market players, where possible. However, we do not guarantee completeness or accuracy of any information. b. Only grid connected projects above 1 MW have been considered in this report unless noted otherwise in the relevant chart. c. Pipeline includes projects that have been allocated to developers but not yet commissioned. It includes cases where the power purchase agreements may not have been signed.

d. The states with less than 5 MW of utility scale commissioned capacity are not shown on the map. e. We have relied on AC capacity numbers for calculations. For module suppliers’ market share analysis, we have used DC numbers where available and else have increased the AC number by 10%. f. In many projects, EPC contractor role is split between multiple parties. We have used several criteria including final responsibility for commissioning and value of contracts for determining credits. g. Self-EPC denotes projects where EPC work is completed by developers or their sister companies in-house.2. These projects were set-up under REC mechanism to sell power to DISCOMs at average power purchase cost (APPC). Some or all of these projects may now be selling power to private consumers on an open-access basis.

3. Off-grid data a. Lighting systems include solar street lights, solar lanterns and home lighting systems. b. We have relied on MNRE and Ministry of Statistics and Program Implementation (MOSPI) data for estimating off-grid market size and annual capacity installation. 4. Acronyms used: a. NTPC - National Thermal Power Corporation Limited b. SECI - Solar Energy Corporation of India Limited c. CPSU – Central Public Sector Units5. This report has been sponsored by Huawei (lead sponsor) and Mundra Solar, Oriano and TBEA as (associate sponsors). All editorial rights and copyrights remain with BRIDGE TO INDIA.

Open access solar Off-grid solar Rooftop Solar

Policy based utility scale

INDIA SOLARMAP2018MARCH

MarketIntelligence

Strategy Consulting

TransactionAdvisory

Commissioned21,346

Pipeline8,185

-

500

1,000

1,500

2,000

FY 2013-14 FY 2014-15 FY 2015-16 FY 2016-17 FY 2017-18 FY 2018-19estimate

Capa

city

add

ition

, MW

Open access market saw an exponential jump in FY 2017-18 almost entirely due to Karnataka's attractive policy exemptions being phased out at the end of the year

0

50

100

150

200

250

300

FY 2013-14 FY 2014-15 FY 2015-16 FY 2016-17 FY 2017-18 FY 2018-19estimate

Capa

city

add

ition

, MW

Government of India's renewed push for solar irrigation pumps (KUSUM scheme) is expected to boost the off-grid market in the coming years

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Analyst time

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

FY 2013-14

Capa

city

add

ition

, MW

FY 2014-15 FY 2015-16 FY 2016-17 FY 2017-18 FY 2018-19 estimate

Due to slow down in tender activity in late 2016 and early 2017, capacity addition is expected to slow down considerably in FY 2018-19

Cent

ral g

overn

ment tenders State government tenders

43% 57%

Solar pumps

grids

towers systems3a

M

ini

Telecom Lighting

Capt

ive

proj

ects

REC mechanism2 Third party sale

69%

20%

11%

OPEX model CAPEX model 76%

24%

Totalinstalledcapacity

24,454 MW

Policy based utility scale – total capacity 18,082 MW

Open access solar – total capacity 3,246 MW Rooftop solar – total capacity 2,417 MW

Off-grid solar – total capacity 691 MW

-

200

400

600

800

1,000

1,200

1,400

1,600

FY 2013-14 FY 2014-15 FY 2015-16 FY 2016-17 FY 2017-18 FY 2018-19estimate

Capa

city

add

ition

, MW

Growth in rooftop solar slowed down marginally in the year due to GST and safeguard duty related uncertainty

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51%

26%

19%

3%1%

Solar packs