India emerged as the third-largest solar photo-voltaic market in the world, with the country’s top 10 companies accounting for over 60% of all large-scale project installations in 2018 calendar year.
According to green energy market tracker Mercom Capital’s latest report, India installed 8.3 GW (gigawatt) of solar PV capacity in 2018 against 44.3 GW by China and 10.6 by the US. Japan and Germany trailed India to the fourth- and fifth-largest solar markets in the world. The report said there were over 300 utility-scale project developers in India with projects of at least 5 MW or more in operation. Currently, there are around 80 large-scale project developers with a pipeline of 5 MW (mega watt) or more in India.