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Blogs


Slow 2023 failed to live up to high hopes

11 December 2023 | BRIDGE TO INDIA

At the start of this year, we had expressed a hope that 2023 would mark a turnaround for the renewable sector. Having being hit hard by supply chain disruption, cost spikes, BCD and ALMM over previous two years, the sector badly needed some relief and fresh impetus for growth. But the year was mixed at best with weak progress on capacity addition front and new initiatives…

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Oil & gas companies show renewed ambition

04 December 2023 | BRIDGE TO INDIA

India’s oil & gas companies seem to be getting interested in the renewable energy sector all over again. Several ambitious announcements entailing huge investments have been made to this effect recently. Indian Oil has set up a new subsidiary for the business with plans to provide solutions across renewable biofuel, green hydrogen, carbon offset and carbon capture markets. The company …

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Maharashtra’s new regulations – open access neutral, rooftop solar positive

28 November 2023 | BRIDGE TO INDIA

The Maharashtra electricity regulator has made several market-friendly amendments to its open access (OA) and net metering regulations. Unlike in the past, OA consumers shall now be eligible for net metering connectivity for their rooftop solar installations and vice-versa. The OA regulation has been largely aligned with the Green Open Access Rules – reduction in minimum contract demand to 100 kW…

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Carbon market – key details still missing

20 November 2023 | BRIDGE TO INDIA

The Bureau of Energy Efficiency (BEE), an agency set up under the Ministry of Power to promote energy efficiency, have issued more details of India’s carbon trading scheme announced back in June. In the first phase starting FY 2024, 89 companies across four sectors including iron and steel, cement, petrochemicals and pulp & paper shall be subject to GHG emission intensity based annual targets. The targets shall be…

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Bridge To India

RPO tinkering creating confusion

14 November 2023 | BRIDGE TO INDIA

The Ministry of Power has again revised Renewable Purchase Obligation (RPO) trajectory for FY 2025-30. Total target of 43.3% by FY 2030 remains intact but sub-targets for wind and hydro power have been reduced sharply from 6.9% and 2.8% to 3.5% and 1.3% respectively. The gap has been filled by a new sub-target of 4.5% for distributed renewable power, to be met by power procured from rooftop solar and…

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Project pooling mechanism to find few buyers

06 November 2023 | BRIDGE TO INDIA

The Ministry of Power has amended Electricity Rules, 2002 to harmonise power tariff across a pool of ISTS-connected renewable projects in central government tenders. The government is planning to create separate pools for different project types including solar, wind, solar-wind hybrid, hydro, RTC, peak power and firm power. A weighted average tariff shall be determined for total power output from each pool using tariffs of individual projects.

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Improving domestic debt outlook a big plus 

30 October 2023 | BRIDGE TO INDIA

The three central government financial institutions (FIs) – PFC, REC and IREDA – have been aggressively expanding their debt exposure to the renewable sector. In the last few months, REC and PFC have together sanctioned debt of INR 57 billion (USD 684 million) to Serentica Renewables for its 960 MW wind solar hybrid project portfolio.

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Record low module prices a boost for project developers

23 October 2023 | BRIDGE TO INDIA

Module prices have been on a downward trajectory for fifteen straight months now. China FOB prices plummeted to a record low of USD 0.14/ W last week, 53% lower than all-time highs reached in Apr-June 2022 and down 46% YOY. The sharp price decline owes to massive supply glut in China and fall in…

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Bridge To India

No cogent plan for offshore wind

16 October 2023 | BRIDGE TO INDIA

MNRE has again revised offshore wind plans and outlined alternative project development models. The revised target is to auction 37 GW capacity by FY 2030, up from 30 GW as announced last year, primarily off the coast of Tamil Nadu and Gujarat. Three different models are proposed…

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Rooftop solar market stagnant

09 October 2023 | BRIDGE TO INDIA

As per our latest data collection exercise for rooftop solar market, total capacity addition in the 12-month period ending June 2023 was about 2,540 MW, up only 1% YOY. The residential market witnessed steady growth with annual installations totaling 797 MW (up 21% YOY) but the corporate installations were down 6% YOY at 1,743 MW. Total installed capacity is estimated to have reached…

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Indian green hydrogen standards will need to catch up

25 September 2023 | BRIDGE TO INDIA

MNRE has announced the widely awaited green hydrogen standard for India. The standard –covering only green hydrogen production stage and excluding all pre and post-production emissions – has been set at an average of 2 kg CO2e/ kg over 12 months. No standards have been defined for derivative products like green ammonia and...

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Energy storage framework needs more oomph

18 September 2023 | BRIDGE TO INDIA

The Ministry of Power has issued a framework for promoting energy storage to support integration of variable renewable power capacity. The framework mostly seeks to combine the different policies and plans already announced – energy storage obligation of 4% by FY 2030, projected capacity of 74 GW/ 411 GWh by FY 2032 in line with...

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