Blogs
2023, the turnaround year?
09 January 2023 | BRIDGE TO INDIA
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 estimates suggest a record capacity addition of 16.4 GW, up 31%, split 88:12 between solar and wind respectively. The new year has started on a good note...
India Renewable Sector Update – November 2022
01 January 2023 | 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 November...
India Renewable Sector Update – November 2022
31 December 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 November...
2022 review | Corporate renewable market coming of age
19 December 2022 | BRIDGE TO INDIA
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
2022 review | The worst is over on the bidding front
12 December 2022 | BRIDGE TO INDIA
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 aggregating 3,500 MW, down 71% YOY. Slowdown in...
2022 review | Financing a bright spark
05 December 2022 | BRIDGE TO INDIA
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. In addition, there were 16 M&A announcements with enterprise value exceeding...
India Renewable Sector Update – October 2022
29 November 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 October...
2022 review | Lack of home-grown technology a gaping vulnerability
28 November 2022 | BRIDGE TO INDIA
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...
2022 review | Policy stability and visibility crucial for growth
25 November 2022 | BRIDGE TO INDIA
The central government has issued a total of 139 renewable sector related 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 overload in the sector. It seems that the policy makers have been too busy in...
2022 review | Land and transmission: the permanent Achilles heel
14 November 2022 | BRIDGE TO INDIA
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...
2022 review | 30% target shortfall offers lessons for future
07 November 2022 | BRIDGE TO INDIA
As we approach end of the year, we will spend the next few weeks reviewing overall progress of the renewable sector and prospects for the next phase. We estimate total renewable capacity (ex-large hydro) to touch 122 GW by December against Government of India’s 2022 target of 175 GW – a deficit of 30%. Solar and wind capacity shortfall is expected to be 34% and 30% respectively. Wind deficit...
Finally, some respite in module prices
31 October 2022 | BRIDGE TO INDIA
Module prices have finally started softening. After shooting up by 65% over two years to USD 0.30/ W, international prices have eased off to USD 0.26 on CIF basis for delivery in Q2 2023. The price decline has come, as expected, due to massive capacity expansion across the value chain in China. Global polysilicon capacity, a key...
