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India, China Lead Global Solar Power Expansion Amid Falling Costs

The world’s largest operating utility-scale solar projects are concentrated in China and India, according to an analysis by Institute for Energy Economics and Financial Analysis.

LONDON – 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:

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 2016, 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.

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