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India Renewable Energy Target

India Needs To Do More To Achieve 175 Gigawatts Renewable Energy Target, Says Rating Firm

written by saurabh

Delay in payments from utilities, non-compliance with renewable energy procurement targets and non-availability of transmission infrastructure for power injection are some of the major issues Indian renewable energy developers are facing. These must be addressed on an urgent basis if the Indian government hopes to achieve 175 gigawatts of installed renewable energy capacity by March 2022.

Ratings agency ICRA has released a report stating that while the government’s policies and market conditions are very well suited for rapid growth in the renewable energy sector, several major challenges remain for the project developers.

According to the agency, the sharp fall in solar tariffs is the result of falling module prices, sharp increase in the number of project developers and the jump in number of competitive auctions. As we have reported earlier, solar power tariff bids have fallen 73% since the launch of the National Solar Mission in 2010.

The highest tariff some of the earliest projects still receive is Rs 17.91/kWh while the lowest and most recent auction saw tariff bids of Rs 2.44/kWh.

The Indian government has already increased its procurement target for solar power to 8% by 2022. However, many states are yet to align their own targets with this national target. States where solar installations are high often have transmission constraints forcing them to cutback on solar power procurement. Additionally, many states still prefer thermal power over solar and wind power as tariffs of majority of older renewable energy projects are higher than coal-fired power plants.

ICRA expects that under a conservative scenario the cumulative capacity requirement for solar and wind to meet the renewable purchase obligation will be 65 gigawatts between 2018 and 2022. This results in an installed capacity of 122 gigawatts by March 2022, significantly short of the 175 gigawatts target.

Current installed capacity for wind and solar power is 32 gigawatts and 12.5 gigawatts, respectively. However, given the large number of solar power auctions in last few months ICRA expects higher capacity addition from solar this year compared to wind energy.



July 31, 2017 0 comment
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EDF Plans To Set Up 2 GW Renewable Energy Capacity In India

EDF Plans To Set Up 2 GW Renewable Energy Capacity In India

written by saurabh

EDF Energies Nouvelles has announced that it sees India as a major renewable energy market for its further expansion.

Talking to an Indian daily, EDF Energies Nouvelles Chief Executive Antoine Cahuzac stated that his company aims to invest US$2 billion in the rapidly growing renewable energy market of India. Cahuzac explained that India matches EDF’s criteria for long-term and aggressive investment.

Tremendous scope for electricity demand remains in India. Additionally, renewable energy capacity still forms a small minority of India’s installed power base and thus large scope of expansion in the solar and wind energy sector remains. India is also blessed with significant solar and wind energy resources. Thus, India is an apt destination for investment by EDF, Cahuzac added.

EDF also stated that it would most likely invest in India as part of a joint venture. Cahuzac stated that several project developers in India have paced very aggressive bids for solar power projects over the last few months. These developers may be bidding keeping in mind the sharp fall in solar module prices and improvement in module efficiency. However, the government must also make sure that these project developers deliver on their projects despite these aggressive bids.

Several foreign investors have been attracted to the Indian renewable energy market due to attractive regulatory and financial environment. India has set a target to have an installed renewable energy capacity of 175 GW by March 2022, including 100 GW solar power and 75 GW wind energy capacity.



September 26, 2016 0 comment
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India’s Andhra Pradesh Targets 3 GW Solar, Wind Energy Hybrid Capacity

India’s Andhra Pradesh Targets 3 GW Solar, Wind Energy Hybrid Capacity

written by saurabh

The southern Indian state of Andhra Pradesh has become the first one to response to the central government’s plan to set up large-scale solar and wind energy hybrid projects.

In a draft policy document issued by the Andhra Pradesh government a target set up 3 GW of solar-wind hybrid capacity has been stated. This is the first response by a state government to the centre’s plan to set up 10 GW of solar-wind hybrid capacity across the country.

Andhra Pradesh has an overall target to have 18 GW of renewable energy capacity operational by March 2022, which would represent just over 10% of the national target of 175 GW. The 18 GW renewable energy target has been divided into 10 GW of solar power and 8 GW of wind energy capacity.

Objectives of the state’s solar-wind hybrid policy includes use of new and innovative technologies such as energy storage.

The state government has announced a number of incentives for the existing as well as new hybrid allocations. Hybrid projects shall be exempted from transmission and wheeling charges, open access cross-subsidy charges as well as electricity duty. The projects will be free to sell electricity to any consumer within the state through open access connectivity. The projects will also have a ‘must-run’ status, that is, there would be no curtailment of generation.

Andhra Pradesh, being one of the coastal states of India, has ample wind energy resources. It is also among the fastest growing markets in the solar power sector with a massive pipeline of projects. As on 31 July 2016, the state had an operational solar power capacity of over 800 MW, or around 10% of the national installed capacity.

Recently, phase one of the 1.5 GW Anantapuram solar park in Andhra Pradesh was commissioned. NTPC Limited, which owns the solar power park, announced the operationalisation of 250 MW capacity, making it one of the largest solar power projects in India. The Solar Energy Corporation of India also announced plans to launch 100 MW energy storage tender for subsequent phases of the solar power park.



August 21, 2016 0 comment
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