India’s module imports up 210 percent in run-up to new import tariffs
Post date: 29/04/2022 - 11:22
Indian project developers imported solar modules with a capacity of 9.7 GW in the first quarter of 2022. That’s up 210 percent from 3.13 GW in the same quarter last year, according to consulting firm Mercom India Pvt Ltd. Main reason is that – as reported – a new Basic Customs Duty (BCD) came into effect on April 1. Many companies had stocked up on materials in advance and stored the modules. The new duties reportedly increased module prices by 40 percent from April.
The bulk of imports came from China, with India’s 20 largest solar project developers importing 4.2 GW of solar modules from the country in March alone. According to the report, the five largest developers accounted for about 38 percent of total imports in the month. The largest supplier in the first quarter was Jinko Solar, followed by Trina Solar, JA Solar, Longi and Canadian Solar.