Project developers facing equity crunch

11 March 2024 | BRIDGE TO INDIA

India’s buoyant public equity market is eagerly lapping up renewable energy stocks. Alpex Solar, a relatively small module manufacturer with total capacity of only 450 MW per annum, completed an INR 744 million (USD 9 million) IPO in February 2024 with over 300x response to its issue. The stock is now trading at a stupendous 3x offer price and over 200x annual earnings. IREDA’s INR 6.4 billion (USD 77 million) IPO in November 2023 was oversubscribed by 39x and the stock now trades at 4.6x its offer…

This is a PREMIUM blog available only to our paid subscribers, please login for full access. For buying a subscription to PREMIUM blogs, please write to us at market.research@bridgetoindia.com

Recent reports

India Solar Rooftop Map | June 2024

India Solar Rooftop Map is an info-graphic report providing a snapshot of rooftop solar market in India – capacity addition across states and consumer segments, market share of leading players and other key trends. Total rooftop solar capacity is estimated to have reached 16,914 MW by June 2024. Total new installations in year-ending June 2024 are estimated at 4,151 MW, up a staggering 73% over previous year.

Powering up renewables with battery energy storage systems

India’s battery energy storage systems (BESS) market is poised for significant expansion, driven by ambitious renewable energy (RE) targets and an increasing need for grid stability. Government initiatives and technological advancements are propelling this growth. However, supply chain risks and cost challenges remain.

India Renewable Map | June 2024

This info-graphic report provides a complete overview of the renewable sector including solar and wind installed capacity, leading players and their market shares, tariff trends and other market trends. India’s total solar and wind capacity reached 117,085 MW by 30 June 2024. New capacity addition in the last 12 months was 14,238 MW, increased by 32% y-o-y.

India PV Module Intelligence Brief | Q2 2024

This report encapsulates quarterly trends in module demand and supply, import and domestic production volumes, supplier market share, break-up by technology and rating, global market scenario, pricing across the value chain, key policy developments and market outlook.

India Corporate Renewable Brief | Q2 2024

This report provides an update on key trends and developments in the corporate renewable market including capacity addition, key players, policy issuances, financing, equipment prices and other market trends.

India Renewable Compass | Q2 2024

This report provides a detailed update of all key sector developments and trends in the quarter – capacity addition, leading players, tenders and policy announcements, equipment prices, financial deals and other market developments. It also provides market outlook for the next two quarters.

Project developers facing equity crunch

Project developers facing equity crunch

Recent blogs

Competitive landscape evolves as RE sector grows

A balancing act on PPA tenure, flexibility and tariffs

RE on growth path despite hiccups

Shining through the roof

End of ISTS waiver to push up RE tariffs ~Rs 1.5 per unit

RE auctions losing steam

Powering RE with flexibility

Giving solar cells the ALMM boost

Not captivating enough

The PSP boost to renewable energy

Recent reports

India Solar Rooftop Map | June 2024

Powering up renewables with battery energy storage systems

India Renewable Map | June 2024

India PV Module Intelligence Brief | Q2 2024

India Corporate Renewable Brief | Q2 2024

India Renewable Compass | Q2 2024