Blogs
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...
India Renewable Sector Update – September 2022
29 October 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 September...
Macro-economic tide turns away
25 October 2022 | BRIDGE TO INDIA
After more than a decade of exceptionally benign macro-economic environment, the global financial markets are facing greater disturbance and volatility. With natural steady state of the economy shaken first by COVID and now the Ukraine war, a domino effect is in play affecting inflation, cost of capital and exchange rates across countries. Inflation has soared to recent highs due to a...
ALMM policy a fine royal mess
17 October 2022 | BRIDGE TO INDIA
The Delhi High Court has rejected a petition filed by the Distributed Solar Power Association, an association of C&I market focused project developers and EPC contractors, to delay ALMM implementation for open access and net-metered rooftop solar projects beyond 1 October 2022. Separately, MNRE has clarified...
Tata Power surges ahead in rooftop solar
10 October 2022 | BRIDGE TO INDIA
BRIDGE TO INDIA estimates that the country added 2,520 MW rooftop solar capacity in the 12-month period to June 2022, up 44% YOY. Based on the latest data compilation exercise, total rooftop solar capacity is estimated to have reached 10,221 MW, 17% of total solar capacity in the country. But growth was uneven...
Module PLI 2 to benefit fully integrated manufacturers
06 October 2022 | BRIDGE TO INDIA
MNRE has finally released details of module manufacturing PLI tranche 2 worth INR 195 billion (USD 2.4 billion). The budget has been split into three categories based on backward integration by the bidders. Separate PLI rate, completion time and local value addition requirements have been specified for the three categories. Table: Different bid categories Note: Actual PLI rate would be...
India Renewable Sector Update – August 2022
02 October 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 August...
Merchant project structures in play
26 September 2022 | BRIDGE TO INDIA
Amazon has announced its first foray in utility scale renewables in India with an innovative deal structure. The company, running a large data centre in Telangana, has signed three long-term solar PPAs for a total capacity of 420 MW with ReNew (210 MW), Brookfield (110 MW) and AMP (100 MW). The projects would be built in Rajasthan, connected to the inter-state transmission grid and registered...
