RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2022-06-01 10:20:00

INDIA'S RENEWABLES 110 GW

INDIA'S RENEWABLES 110 GW

IEEFA - May 27, 2022 - Renewable energy now forms a quarter of India’s total installed power capacity – 110 gigawatts (GW) as of March 2022 – and accounts for 13% of the country’s electricity generation.

Under the 2015 Paris Climate Agreement, India set ambitious targets to produce 50% of its electricity from renewable sources and install 450GW of renewable energy capacity by 2030.

A total of 65.6GW of solar and wind capacity has been added to the grid since the beginning of the fiscal year (FY) 2015/16.

More than 90% of India’s 54GW of solar capacity has been installed since FY2015/16. In the fiscal year that ended in March 2022, India added a record 13.9GW of solar capacity to the grid.

India’s ultra-mega solar park model has been tremendously successful in de-risking solar projects and upscaling solar capacity deployments. Reverse auctions in which the lowest tariff bidders are awarded contracts have been a game changer in making tariffs highly competitive. India’s solar parks are some of the largest in the world and offer tariffs below Rs2.5/kWh (~US$35/MWh) – nearly 50% lower than coal-fired power tariffs.

Despite these achievements, the capacity growth in solar still falls far short of the average annual build rate of 30GW that is required to achieve the target of 300GW of solar capacity by 2030. In the past few years, policy uncertainty around import duties and taxes, among other reasons, have slowed down growth in solar capacity.

The wind power sector has faced even bigger policy headwinds. Following a record year in FY2016/17 with 5.5GW of wind capacity additions, progress slowed to an annual average of 1.6GW over the last five years.

To replicate the success of reverse auctions in wind power development feed-in-tariffs were abolished in 2017. The competition rapidly brought down tariffs by 40%. However, margins shrank to unsustainable levels, with pressure to reduce costs and upgrade turbine technologies severely stretching the balance sheets of Indian wind turbine manufacturers.

To make matters worse, Solar Energy Corporation of India’s (SECI) ‘location agnostic’ wind power auctions have resulted in a concentration of project developments in a few states with the best wind resources such as Tamil Nadu and Gujarat. This has put pressure on land and networks in those states and caused delays in project commissioning.

Unleashing growth in solar

India could fully exploit its solar resources without putting undue stress on land and network infrastructure by giving special attention to distributed rooftop and decentralised solar power.

IEEFA recommended some short term and long-term policy moves that could provide a strong push for rooftop solar in India. Uniformity and consistency in net metering and banking regulation across all states is the most important change required to make rooftop solar viable for owners.

With stricter enforcement of the renewable purchase obligations (RPOs) for states, the state-owned distribution companies (Discoms) would allow more rooftop solar, because it can be built quickly and without putting significant pressure on the grid network.

Discoms' poor financial health is a major contributing factor to sluggish growth in rooftop solar. Privatisation of Discoms is potentially a long-term solution that would incentivise rooftop solar as it offers least-cost power to the grid.

Many Indian renewable energy developers have successfully raised debt capital through green bonds at competitive rates in the international market. These companies have also managed to tap significant international institutional capital.

At the same time, many top global utilities such as Enel, EDF and Statkraft are steadily establishing themselves with a strategy to be in the Indian market for the long haul.

In IEEFA’s view, there is enough global capital available to be deployed in the Indian market, but policy certainty and regulation is needed to strengthen investor confidence. India has installed record renewables capacity in the last fiscal year and rising electricity demand after COVID could become a springboard for the energy transition.

-----


Earlier:

INDIA'S RENEWABLES 110 GW
2022, May, 30, 11:30:00
INDIA NEED COAL ANEW
It would be the first time since 2015 that Coal India has imported the fuel, highlighting efforts by state and federal officials to stock up to avoid a repeat of April, when India faced its worst power cuts in more than six years.
INDIA'S RENEWABLES 110 GW
2022, May, 30, 11:25:00
INDIA'S COAL PRODUCTION ROSE BY 4.5%
The Siarmal mine, located in the state of Odisha (eastern India), will start producing 2-5 Mt/year and will ramp up its production capacity of 50 Mt/year in 5 to 7 years.
INDIA'S RENEWABLES 110 GW
2022, May, 30, 11:20:00
INDIA NEED LNG
Currently, GAIL has a term LNG import deal in place with Gazprom's Singapore-based trading arm.
INDIA'S RENEWABLES 110 GW
2022, May, 25, 11:30:00
INDIA REDUCES OIL PRICES
India's federal government decided to cut the excise duty on petrol and diesel in an attempt to rein in high levels of inflation.
INDIA'S RENEWABLES 110 GW
2022, May, 20, 11:40:00
INDIAN RENEWABLE 5.2 GW, $3 BLN
The project is set to reach a storage capacity of 5,230 MW and involves 10,800 MWh of daily storage capacity from a pumped-storage plant, with the integration of 3,000 MW of solar and 550 MW of wind capacity.
INDIA'S RENEWABLES 110 GW
2022, May, 6, 10:30:00
INDIA WIND POWER +30 GW
India plans to set up 30,000 megawatts (MW) of offshore wind power capacity alongside 50,000 MW of solar capacity
INDIA'S RENEWABLES 110 GW
2022, April, 20, 11:10:00
INDIA SOLAR POWER 10 GW
The renewable capacity (excluding large hydro) in India reached 100 GW in August 2021, i.e. just over half of the 2022 target (175 GW).
All Publications »
Tags: INDIA, RENEWABLE
Chronicle:
INDIA'S RENEWABLES 110 GW
2023, January, 27, 09:49:00
Получите полный список перспективных СПГ-проектов и проектов по производству водорода в России и их текущий статус
СПГ Конгресс Россия – это международная инвестиционная площадка, где традиционно собираются лидеры индустрии. Ежегодно в мероприятии принимают участие более 250 операторов крупно-, средне- и малотоннажных СПГ-проектов, водородных проектов, правительство и технологические лидеры СПГ-индустрии. 15–16 марта 2023 года, Москва.
INDIA'S RENEWABLES 110 GW
2023, January, 27, 09:48:00
СПГ КОНГРЕСС РОССИЯ 2023
СПГ Конгресс Россия – это международная инвестиционная площадка, где традиционно собираются лидеры индустрии. Ежегодно в мероприятии принимают участие более 250 операторов крупно-, средне- и малотоннажных СПГ-проектов, водородных проектов, правительство и технологические лидеры СПГ-индустрии.
INDIA'S RENEWABLES 110 GW
2023, January, 27, 09:45:00
U.S. OIL INVENTORIES UP BY 0.5 MB TO 448.5 MB
U.S. commercial crude oil inventories increased by 0.5 million barrels to 448.5 million barrels.
INDIA'S RENEWABLES 110 GW
2023, January, 27, 09:40:00
OIL AND GAS AUTOMATION AND DIGITALIZATION 2023
Event Title: Oil and Gas Automation and Digitalization 2023 Conference Date: 03 - 04 May 2023 Event Type: In-Person Event Event Organizer: PTN Events
INDIA'S RENEWABLES 110 GW
2023, January, 25, 10:45:00
OIL PRICE: BRENT BELOW $87, WTI ABOVE $80
Brent rose 22 cents, or 0.3%, to $86.35 per barrel, WTI climbed 13 cents, or 0.2%, to $80.26 per barrel.
INDIA'S RENEWABLES 110 GW
2023, January, 25, 10:40:00
РАЗВИТИЕ РОССИЙСКОЙ ЭЛЕКТРОЭНЕРГЕТИКИ
Прежде всего речь идёт о стоимости строительства линий электропередачи и подстанций, а также поэтапном формировании рациональной структуры генерирующих мощностей в стране, в том числе с учётом задач низкоуглеродного развития.
INDIA'S RENEWABLES 110 GW
2023, January, 25, 10:35:00
ЦИФРОВАЯ ТРАНСФОРМАЦИЯ ЭНЕРГЕТИКИ РОССИИ
Государство в настоящее время уделяет большое внимание обеспечению кибербезопасности, эта задача заложена в Энергетическую стратегию РФ до 2035 года.
All Publications »