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Blogs


Module PLI scheme to fall well short of target

26 February 2024 | BRIDGE TO INDIA

First Solar has become the first company, awarded capacity in the module manufacturing PLI scheme, to announce full commercial operations ahead of time. The company’s 3.3 GW integrated thin-film module manufacturing plant commenced production in January 2024. It has already tied up bulk of its first year…

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Financially strong wind OEMs a positive for the sector

19 February 2024 | BRIDGE TO INDIA

Suzlon and Inox Wind, the two biggest Indian wind turbine manufacturers, have announced much improved financial results for Q4 2023. Suzlon reported revenues of INR 43 billion in 9M FY 2024 largely in line with the previous year but EBITDA was up to INR 6.8 billion from INR 6.1 billion, while PAT witnessed 43x growth YOY to INR 4.3 billion…

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Surge in auctions hard to sustain

12 February 2024 | BRIDGE TO INDIA

There has been a surge in project auctions in the last three months. Since November 2023, total capacity of 12,142 MW has been awarded under 13 auctions. Notable auctions include a 1,184 MW peak power award by SJVN, 3,000 MW solar power by NHPC, 750 MW RTC power by REMCL, and three solar-wind hybrid awards by SECI (900 MW), NTPC (1,104) and GUVNL (200)….

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Government throwing it all at residential rooftop solar

05 February 2024 | BRIDGE TO INDIA

The Indian government has unveiled a highly ambitious new scheme with a target of installing 10 million residential rooftop solar systems. Few details are available yet, but the government seems to be planning to develop these systems in RESCO mode with the help of DISCOMs (demand aggregation) and central PSUs like NTPC, NHPC, EESL, SECI and SJVN (execution). The scheme is likely to be earmarked for smaller consumers with a maximum installation size of 3 kW and enhanced capital subsidy of up to 60%. ..

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Bridge To India

Encouraging progress on green hydrogen

29 January 2024 | BRIDGE TO INDIA

SECI has announced winners for the first subsidy scheme for green hydrogen production. Ten companies have been awarded a total subsidy of INR 31 billion (USD 373 million) for aggregate capacity of 412,000 MT per annum against total budget of INR 54 billion (USD 659 million) for 450,000 MT capacity.

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COP 28, another year of failed discussions

22 January 2024 | BRIDGE TO INDIA

Another round of COP discussions concluded in December 2023 marked by limited progress and overall disappointment. It included the first ever Global Stocktake to assess progress against the Paris Climate Change Agreement targets. The conclusion is glaringly obvious – the world is falling behind climate goals with global warming close to breaching the 1.5 oC threshold. Indeed, based on…

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Lots riding on 2024

15 January 2024 | BRIDGE TO INDIA

Best wishes for a hale and hearty new year to all our readers!

2023 ended on a limp note defying all hopes of strong growth and sector revival. Excluding open access, which saw a record capacity addition of 5.1 GW, the utility scale business registered a decline of 50% with total capacity addition of only 5 GW, the lowest in last three years.

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Managing variability risk key to growth of renewables

18 December 2023 | BRIDGE TO INDIA

India’s power demand grew by a healthy 9% in Jan-Nov 2023 in comparison to 2022. To ensure adequate power supply, the government has mandated all imported coal-fired plants to operate at maximum capacity and imported coal blending with domestic coal. It has further scaled up thermal capacity addition plans to 80 GW new capacity by 2030, a sharp jump from an earlier estimate of 27 GW, in anticipation of sustained increase in demand…

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Bridge To India

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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