India is all set to become the fourth largest solar market globally in 2016 behind only China, USA and Japan with 5.4 GW of expected capacity addition inthe year. The tailwinds are exceptionally strong with rapidly falling costs andgreater environmental agenda in the post COP21 world.

The Indian solar market appears in full bloom right now with key policy changes being introduced and 25 GW of projects under different stages of development. 35 new tenders with a cumulative capacity of 15.5 GW have been announced in the last year. An additional 5 GW of new tenders are awaiting release in the coming months. There is burgeoning investment interest both from Indian and international developers in the sector. This frenetic pace of activity is a big step-up in contrast to historic solar capacity addition of approximately 1 GW per annum for three straight years until 2014. But does the sector have sufficient financial capacity to deliver all these projects?