Peak power tenders gaining traction   
30 January 2023 |

MSEDCL recently concluded auction for its 250 MW peak power tender issued in August 2022. Tariff for daytime power (10 AM-6 PM) was fixed at INR 2.42/ kWh and bidders were required to quote a tariff for supply during remaining hours (6 PM-10 AM). There were four bidders...

Peak power tenders gaining traction   
30 January 2023 |

MSEDCL recently concluded auction for its 250 MW peak power tender issued in August 2022. Tariff for daytime power (10 AM-6 PM) was fixed at INR 2.42/ kWh and bidders were required to quote a tariff for supply during remaining hours (6 PM-10 AM). There were four bidders...


New deviation penalty regime bites the sector   
23 January 2023 |

CERC, the central power sector regulator, has issued an order capping base penalty rate under Deviation Settlement Mechanism (DSM) at INR 12/ kWh for both power producers and consumers. Earlier, the base rate was set at maximum of weighted average price discovered on power exchanges and weighted average ancillary service charge...

New deviation penalty regime bites the sector   
23 January 2023 |

CERC, the central power sector regulator, has issued an order capping base penalty rate under Deviation Settlement Mechanism (DSM) at INR 12/ kWh for both power producers and consumers. Earlier, the base rate was set at maximum of weighted average price discovered on power exchanges and weighted average ancillary service charge...


Green hydrogen ambition needs more tangible support   
18 January 2023 |

MNRE has finally released the much-anticipated National Green Hydrogen Mission document. As expected, the target is to build 5 MMTPA green hydrogen production capacity fuelled by 125 GW renewable power capacity by FY 2030 for domestic consumption. The document sets out an additional aspiration of becoming a global hydrogen hub with another 10 MMTPA capacity by FY 2030 for exports...

Green hydrogen ambition needs more tangible support   
18 January 2023 |

MNRE has finally released the much-anticipated National Green Hydrogen Mission document. As expected, the target is to build 5 MMTPA green hydrogen production capacity fuelled by 125 GW renewable power capacity by FY 2030 for domestic consumption. The document sets out an additional aspiration of becoming a global hydrogen hub with another 10 MMTPA capacity by FY 2030 for exports...


2023, the turnaround year?   
09 January 2023 |

Best wishes for a very happy new year to all our subscribers! 2022 was the year when renewable power sector proved its resilience in the face of extreme cost pressures, BCD, ALMM, shortage of modules and transmission system hold ups. Our early estimates suggest a record capacity addition of 18.8 GW, up 50% YOY, with a split of 90:10 between…

2023, the turnaround year?   
09 January 2023 |

Best wishes for a very happy new year to all our subscribers! 2022 was the year when renewable power sector proved its resilience in the face of extreme cost pressures, BCD, ALMM, shortage of modules and transmission system hold ups. Our early estimates suggest a record capacity addition of 18.8 GW, up 50% YOY, with a split of 90:10 between…


Recent reports
India Renewable Sector Update – November 2022
31 December 2022 |

This video presents a summary of major sector developments including tender issuance, auctions, policy and regulatory developments, financial deals and related market trends in November 2022.

India Renewable Sector Update – November 2022
31 December 2022 |

This video presents a summary of major sector developments including tender issuance, auctions, policy and regulatory developments, financial deals and related market trends in November 2022.


2022 review | Corporate renewable market coming of age   
19 December 2022 |

India added 3,761 MW corporate renewable capacity in first nine months of the year, 61% more than in whole of 2021. The numbers are especially pleasing because of a series of recent adverse developments including increase in construction costs, imposition of BCD and ALMM, and high policy uncertainty....

2022 review | Corporate renewable market coming of age   
19 December 2022 |

India added 3,761 MW corporate renewable capacity in first nine months of the year, 61% more than in whole of 2021. The numbers are especially pleasing because of a series of recent adverse developments including increase in construction costs, imposition of BCD and ALMM, and high policy uncertainty....


2022 review | The worst is over on the bidding front   
12 December 2022 |

2022 was an exceptional year in terms of project auctions. There was a double whammy for project developers as they were hit by weak demand from DISCOMs and escalating costs. Total auctioned capacity fell by 47% over previous year to just 9,855 MW, a five year low. There were only 3 auctions over 100 MW between all central government entities…

2022 review | The worst is over on the bidding front   
12 December 2022 |

2022 was an exceptional year in terms of project auctions. There was a double whammy for project developers as they were hit by weak demand from DISCOMs and escalating costs. Total auctioned capacity fell by 47% over previous year to just 9,855 MW, a five year low. There were only 3 auctions over 100 MW between all central government entities…


2022 review | Financing a bright spark   
05 December 2022 |

Amongst all the travails including land, transmission, cost pressures, delays in equipment supply and policy uncertainty, financing continued to be somewhat of a bright spot for the renewable sector in 2022. The year saw as many as 18 equity investment deals totalling at least USD 3,873 million, up 79% over 2021...

2022 review | Financing a bright spark   
05 December 2022 |

Amongst all the travails including land, transmission, cost pressures, delays in equipment supply and policy uncertainty, financing continued to be somewhat of a bright spot for the renewable sector in 2022. The year saw as many as 18 equity investment deals totalling at least USD 3,873 million, up 79% over 2021...


India Renewable Sector Update – October 2022
29 November 2022 |

This video presents a summary of major sector developments including tender issuance, auctions, policy and regulatory developments, financial deals and related market trends in October 2022.

India Renewable Sector Update – October 2022
29 November 2022 |

This video presents a summary of major sector developments including tender issuance, auctions, policy and regulatory developments, financial deals and related market trends in October 2022.


2022 review | Lack of home-grown technology a gaping vulnerability   
28 November 2022 |

In a recent note, we identified land, transmission and technology as the most acute supply side challenges for the renewable sector. Dependence on overseas technology is a key risk specifically for the Indian renewable sector. However, technology receives little attention in the discourse on sector dynamics...

2022 review | Lack of home-grown technology a gaping vulnerability   
28 November 2022 |

In a recent note, we identified land, transmission and technology as the most acute supply side challenges for the renewable sector. Dependence on overseas technology is a key risk specifically for the Indian renewable sector. However, technology receives little attention in the discourse on sector dynamics...


2022 review | Policy stability and visibility crucial for growth   
25 November 2022 |

The central government has issued a total of 139 policies and related amendments in the last five years. That number could be multiplied by about 25x to account for multiplicity of bodies including state governments, regulators, nodal agencies and DISCOMs to understand magnitude of policy...

2022 review | Policy stability and visibility crucial for growth   
25 November 2022 |

The central government has issued a total of 139 policies and related amendments in the last five years. That number could be multiplied by about 25x to account for multiplicity of bodies including state governments, regulators, nodal agencies and DISCOMs to understand magnitude of policy...


2022 review | Land and transmission: the permanent Achilles heel   
14 November 2022 |

Of the four main supply side factors for renewables – land, transmission, technology and financing, the first two are the most critical – always in short supply and on critical time path due to long lead times, complex regulations and increasing cost. Despite multiple government initiatives including solar parks, green energy corridors and renewable energy zones...

2022 review | Land and transmission: the permanent Achilles heel   
14 November 2022 |

Of the four main supply side factors for renewables – land, transmission, technology and financing, the first two are the most critical – always in short supply and on critical time path due to long lead times, complex regulations and increasing cost. Despite multiple government initiatives including solar parks, green energy corridors and renewable energy zones...


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