Blogs
Andhra Pradesh decision a small victory for project developers
21 March 2022 | BRIDGE TO INDIA
Thirty two months after the Andhra Pradesh government’s flagrant attempt to renegotiate over 7,500 MW of renewable power PPAs, the state High Court has finally restored status quo. The High Court has, in an order dated 15 March 2022, directed the DISCOMs to honour contracted tariffs and clear all...
Sharp rise in peak power deficit
14 March 2022 | BRIDGE TO INDIA
It is early March and peak power demand this month has already hit 195 GW as against 186 GW last year. Peak demand over last five years has grown at a CAGR of 4.6% outpacing total power demand CAGR of 3.4%. Figure 1: Peak and total power demand Source: CEA, BRIDGE TO INDIA research These are official peak demand numbers reported by CEA, which also reports a rising peak deficit of...
An essential step towards deepening ancillary services market
07 March 2022 | BRIDGE TO INDIA
CERC, India’s central power sector regulator, recently issued a regulation expanding scope of ancillary services and including large consumers and energy storage as potential service providers. The regulation covers mainly energy balancing services, also called frequency control, which have been split by CERC in three segments...
India Renewable Power Tenders and Policies Update – January 2022
01 March 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 January...
Hydrogen policy misses the mark
25 February 2022 | BRIDGE TO INDIA
The Ministry of Power has issued a green hydrogen policy. The policy was much anticipated post Indian government’s commitments at COP 26 as green hydrogen is seen as a very promising route to decarbonisation. The policy focuses mainly on provision of renewable power for hydrogen production. DISCOMs ‘may’ sell...
Return expectations coming down
22 February 2022 | BRIDGE TO INDIA
Soaring costs and aggressive competition for new projects have made it a tough time for project development business. Module costs have edged down from the exceptional highs of around USD cents 0.30 in November to USD cents 0.27 but are still up about 16% over prices a year ago. Shipping freight rates, aluminum, copper and steel prices are also relentlessly firm. Total solar EPC cost, excluding...
Consumers need a reliable pathway to 100% renewable power
15 February 2022 | BRIDGE TO INDIA
Leading corporates are increasingly adopting RE 100 pledges to decarbonise their businesses in response to demands from investors and consumers. There are now eight Indian companies alongside many international companies operating in India that have signed up to RE100...
2021 recap in five charts
15 February 2022 | Dhruv Tyagi
We present five charts summarising key developments in the renewable power sector in 2021. Soaring module prices and other costsMono-crystalline module prices surged to USD cents 30/ Wp before falling marginally by year end, a rise of 21% over previous year due to rising component prices and shutdown of factories in China. Higher costs affected project viability leaving project developers in...
New dawn for solar manufacturing
04 February 2022 | BRIDGE TO INDIA
The government has approved basic customs duty (BCD) for cells and modules as well as an enhanced budget of INR 240 billion (USD 3.2 billion) for production-linked incentive (PLI) for domestic manufacturers. As per the
Solar EPC business undergoing a churn
31 January 2022 | BRIDGE TO INDIA
NTPC completed EPC auction for 3 x 245 MW solar projects based in its Nokh solar park in Rajasthan last week. The tender attracted strong interest from a mix of existing (L&T, Sterling & Wilson, BHEL, Jakson) and new players (Amar Raja, Premier Energies, Rays Power Infra, Axis Energy, BVG and NTPC GE Power, an NTPC-GE JV)....
Financial risks building up at the wrong time
24 January 2022 | BRIDGE TO INDIA
Listed renewable IPP stocks have taken a battering in the last few months. ReNew stock touched a low of USD 5.65 this week after listing on NASDAQ in August 2021 at USD 8.50, a fall of 33%. Azure stock fell from a high of USD 48.39 in January 2021 to USD 15.55 this week, a fall of 70% in one year. Both stocks are down between 36-44% over the broader indices in the last four months. Another...
ALMM: Walled garden for domestic solar manufacturers
18 January 2022 | BRIDGE TO INDIA
MNRE has expanded scope of the ALMM policy by bringing open access and rooftop solar projects under its purview. As per an order released last week, all open access and net-metering based projects applying for approval from 1 April 2022 onwards may procure only modules approved under ALMM policy. The...
