Budget lays focus on residential rooftop solar, EV infrastructure
Finance minister Nirmala Sitharaman today tabled the interim budget for FY 2024-25 in the parliament. Budget highlights include announcements about the residential rooftop solarization scheme, viability gap funding for offshore wind, and government support for EV manufacturing and charging infrastructure.
Renewables, hydro now account for over 40% of India’s installed power capacity, says CEEW-CEF
India reached a cumulative installed power generation capacity of 416 GW as of March 2023. Renewables formed 30% and hydro 11% of the capacity mix.
New renewable capacity additions doubled in FY 2022
India installed 15.5 GW of non-hydro renewable energy capacity in fiscal 2021-22, from just 7.7 GW installed in the preceding fiscal year. About 90% of the total, or 13.9 GW, came from solar.
New renewable energy capacity addition grew 73% year-on-year in the third quarter this fiscal
India installed 3,316 MW of non-hydro renewable energy capacity in the third quarter of FY2021-22, compared to just 1,914 MW installed in the same period last year. Out of this, 93% (3,072 MW) came from solar.
2021: A year of ascent for solar PV
The solar sector in India bounced back to make 2021 the best year in new PV capacity addition. The year also witnessed a massive response to PLI tender for solar manufacturing and launch of 50 GWh battery cell tender and green hydrogen mission.
Renewable energy project acquisitions jumped by more than 300% in value terms in 2021
The growth in acquisitions was supported by conducive global financial conditions and accommodative monetary policy maintained by the Reserve Bank of India.
Over 90% of India’s solar and wind projects received investment-grade ratings in 2020
An analysis by the CEEW Centre for Energy Finance reveals that India’s renewable energy sector has made significant progress on the back of policies that have helped mitigate several risks for solar and wind project investors.
Indian renewable energy developers raise over INR 26,300 crore through green bonds in first half of 2021
Since 2014, Indian renewable energy developers have raised more than INR 78,200 crore through green bonds in global markets.
Renewable energy certificates worth over INR 9,000 crore sold to date
A new report stresses on rebooting the renewable energy certificate (REC) trading for a balanced energy transition in India. It proposes measures to make RECs more appealing to stakeholders and prepare the market for the possible supply crunch in the future.
Renewables accounted for 64% of India’s electricity generation capacity addition in FY21
India added 7.7 GW of new renewable energy (RE) capacity in FY2020-21, out of which 5.5 GW (71%) came from solar (grid-scale and rooftop) alone. Overall power generation capacity addition for the year stood at 12.1 GW.
