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Consensus eludes on banking provision in green open access push

21 June 2024 | BRIDGE TO INDIA

The issue of the Green Energy Open Access (GEOA) rules by the central government in fiscal 2022 marked a watershed moment from a policy perspective for open access (OA) consumers. However, as of June 2024, only 13 states have fully adopted the rules, two states have partially adopted the rules, and one state has issued draft...

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Tightrope walk for power regulators: Balancing discom health and consumer interest

12 June 2024 | BRIDGE TO INDIA

Retail tariff orders issued by state electricity regulators for this fiscal versus increasing power purchase cost is the big conundrum before distribution companies (discoms). Tariff orders are issued on a yearly or multi-year basis to determine the revenue requirements of discoms. The tariff estimation process typically involves review of past performance, estimation of power demand, cost of power purchases…

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ALMM reinstatement spurts record quarterly sector growth

04 June 2024 | BRIDGE TO INDIA

India’s solar capacity addition in Q1 2024 grew 341% y-o-y to a record high of 7,918 MW, marking the highest ever capacity addition in a single quarter. Utility scale and open access (OA) projects accounted for 56% and 31% of new capacity addition respectively, followed by rooftop solar with 10% and the off-grid segment…

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ISTS OA – GNA regulation solves issues but implementation concerns remain

28 May 2024 | BRIDGE TO INDIA

The Central Electricity Regulatory Commission (CERC) fully operationalised the General Network Access (GNA) and Inter-State Transmission System (ISTS) Connectivity regulations in October 2022, ushering in a new era for India’s power sector. Given that sufficient time has passed since the inception of these regulations, we take a close look to evaluate the progress made so far…

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Bridge To India

Recent reports

India Solar Compass | Q1 2024

India Solar Compass | Q1 2024

This report provides a detailed update of all key sector developments and trends in the quarter – capacity addition, leading players, tenders and policy announcements, equipment prices, financial deals and other market developments. It also provides market outlook for the next two quarters.

India PV Module Intelligence Brief | Q1 2024

India PV Module Intelligence Brief | Q1 2024

This report encapsulates quarterly trends in module demand and supply, import and domestic production volumes, supplier market share, break-up by technology and rating, global market scenario, pricing across the value chain, key policy developments and market outlook.

India Corporate Renewable Brief | Q1 2024

India Corporate Renewable Brief | Q1 2024

This report provides an update on key trends and developments in the corporate renewable market including capacity addition, key players, policy & regulatory issuance, financing, PPA tariffs and other market trends.

US tariff move – a limited window of opportunity for Indian manufacturers

20 May 2024 | BRIDGE TO INDIA

On April 24, 2024, the American Alliance for Solar Manufacturing Trade Committee filed a petition with the US International Trade Commission and Department of Commerce, requesting imposition of anti-dumping and countervailing duties on solar cell imports from four Southeast Asian countries — Vietnam, Cambodia, Indonesia and Thailand (hereon referred to as SEA). All solar cell imports from SEA…

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Residential segment leads the way for rooftop solar sector growth

14 May 2024 | BRIDGE TO INDIA

In calendar year 2023, the residential market continued to show signs of healthy growth with estimated capacity addition up almost 50% y-o-y at 1,085 MW. Total rooftop solar capacity addition, though, was up only 8% y-o-y at 2,856 MW. addition in the corporate segment was down 7% y-o-y at 1,770 MW as many consumers deferred project implementation amid uncertainty in the module market and falling prices. Total installed rooftop solar capacity is estimated to have grown to 14,484 MW, with the share of…

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Carbon credit allowance can distract from emission-reduction efforts

08 May 2024 | BRIDGE TO INDIA

The Science Based Targets initiative (SBTi) recently permitted use of carbon credits for abating Scope 3 emissions, concluding a six-month long stakeholder consultation on evaluating the use of environmental certificates as a tool for supply chain decarbonisation. As per the decision, a third-party agency will be responsible for validating the quality of carbon credits. Rules and…

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Domestic module manufacturers lining up with IPOs

29 April 2024 | BRIDGE TO INDIA

Alpex Solar, a small domestic module manufacturer with annual production capacity of 848 MW, successfully completed an INR 750 million IPO in February 2024. The IPO was oversubscribed by 300 times due to strong investor demand. The stock listed at 1.9x issue price and has since soared to 4.3x issue price trading at a fantastic P/E ratio of 323. Several other manufacturers are lining up with IPO…

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Bridge To India

ISTS charge waiver unlikely to be extended

22 April 2024 | BRIDGE TO INDIA

100% waiver of inter-state transmission system (ISTS) charges for full 25 year project life is set to be phased out shortly. The waiver is available to all renewable and storage projects completed by June 2025 with charges expected to be reinstated annually in increments of 25% for projects completed thereafter…

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Maharashtra lays out a template for agri-solar

15 April 2024 | BRIDGE TO INDIA

Maharashtra has allocated a remarkable 9,000 MW agri-solar project capacity across 95 project developers. The state agency, MSEB Solar Agro Power Limited (MSAPL), had issued a flurry of tenders in the last three months for setting up distributed solar capacity in chunks of about 10-15 MW each for injection at individual substation level. There were two different kinds of tenders – for individual projects and for aggregated district level (about 200 MW each) – totaling 5,000 MW and 3,650 MW respectively.

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Still searching for a firm power solution

08 April 2024 | BRIDGE TO INDIA

SECI recently completed the first ever auction for a “firm and dispatchable renewable energy” (FDRE) tender. The 1,500 MW tender was undersubscribed with only 600 MW of bids received and 480 MW awarded to JSW (180 MW), Hero (120), Serentica (100) and ReNew (80) at tariffs of INR 5.59-5.60/ kWh…

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Lack of traceability hurting the Indian REC market

31 March 2024 | BRIDGE TO INDIA

India’s national power sector regulator, CERC, has made a series of amendments to the REC market framework over the last couple of years. After introduction of bilateral trading, removal of price bands and extending instrument validity forever from December 2022 onwards, it made RECs technology agnostic from October 2023 onwards. Buyers on exchanges can no longer trace RECs…

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