Blogs
Soaring battery storage costs dim adoption prospects
23 May 2022 | BRIDGE TO INDIA
Greenko has commenced construction of an integrated 5,230 MW pumped hydro storage and solar-wind hybrid project in Andhra Pradesh at an estimated cost of USD 3 billion. The project, with a reported storage capacity of 10.8 GWh, is expected to...
IPP valuations driven by technical factors
16 May 2022 | BRIDGE TO INDIA
In the last three years, there have been a total of 33 M&A or private equity transactions exceeding USD 100 million in size in the renewable IPP business. Total investment value of these deals is estimated at USD 12 billion indicating strong lure of the sector. Investors include companies of all hues including oil & gas major (Total, Shell and GPSC), PE funds (Blackrock, Actis,...
States take on the tendering mantle while SECI goes slow
09 May 2022 | BRIDGE TO INDIA
Pace of tender issuance and auctions has now stayed weak for over two years. Since touching a peak of 38,026 MW and 29,240 MW in 2019, tender issuance and auctions have averaged at annualised levels of 28,742 MW and 19,072 MW respectively. In the first four months of 2022, only 1,875 MW capacity was awarded. The slowdown is mainly because SECI has been prioritising tying up its huge backlog of...
Private ownership more desirable for renewables
30 April 2022 | BRIDGE TO INDIA
Shell just announced 100% acquisition of Sprng Energy from Actis with an enterprise value of USD 1.55 billion. The company has a portfolio of 2.3 GW solar and wind projects including 0.8 GW capacity in construction. Earlier this month, Tata Power announced USD 500 million investment from Blackrock and Mubadala…
India Renewable Sector Update – March 2022
28 April 2022 | BRIDGE TO INDIA
This video presents a summary of major sector developments including tender issuance, auctions, policy and regulatory developments, financial deals and related market trends in March...
A peek into the future of solar manufacturing in India
25 April 2022 | Vinay Rustagi
Two weeks ago, I had an opportunity to visit the 750 MW solar PV cell and module plant owned by Premier Energies in Hyderabad. Construction of this plant, India’s second largest, was completed in a record 15 months and full operations commenced in July 2021. It is worth noting that this is the first greenfield PV cell plant to have been completed in India since commencement of operations by...
Wind sector hobbled by soaring costs, unrealistic bids
25 April 2022 | BRIDGE TO INDIA
India added only 1,033 MW wind power generation capacity in 2021, down 14% YOY, taking total wind capacity to 40,709 MW. This is the fourth straight year of decline in capacity addition after competitive auctions replaced feed-in tariff regime in 2017. Out of total allocated capacity of 12.4 GW for vanilla wind projects in the last five years,...
Offshore wind not good value for money
18 April 2022 | BRIDGE TO INDIA
MNRE has revived offshore wind plans with industry consultation for developing 1 GW and 2 GW capacity off the coast of Gujarat and Tamil Nadu respectively. Power is proposed to be sold to the respective states at a fixed tariff of about INR 3.50/ kWh with SECI as an intermediary offtaker. MNRE aims to award total capital subsidy of up to INR 140 billion (USD 1.8 billion) to project developers...
Residential segment perks up rooftop solar
11 April 2022 | BRIDGE TO INDIA
BRIDGE TO INDIA estimates that new rooftop installations in 2021 touched a record high of 2,196 MW, up 62% over previous year. As of December 2021, total rooftop solar capacity is estimated at 8,988 MW, 18% of total solar capacity in the country. The increase came mainly from the residential segment, which...
New DSM regulation to add cost for developers
04 April 2022 | BRIDGE TO INDIA
CERC, India’s central power sector regulator, has revised regulations pertaining to the Deviation Settlement Mechanism (DSM) for solar and wind power projects. The regulator has both tightened the deviation bands and increased penalties for deviations. Consequences for over-injection are considerably worse with developers not...
India Renewable Market Updates – February 2022
01 April 2022 | BRIDGE TO INDIA
This video presents a summary of major sector developments including tender issuance, auctions, policy and regulatory developments, financial deals and related market trends in February...
Decarbonisation push and ISTS waiver fuel corporate renewable demand
27 March 2022 | BRIDGE TO INDIA
ArcelorMittal, one of India’s largest steel producers, has signed an agreement with Greenko to procure a 250 MW inter-state round-the-clock (RTC) open access (OA) renewable power project. Power would be supplied from a combined 975...
