Market trends

With less than 4 months to go, India is 39 GW away from its 2022 solar target

With less than 4 months to go, India is 39 GW away from its 2022 solar target Back in 2015, the government of India (GoI) had set the target of achieving 100 gigawatt (GW) of grid-connected solar installation by 2022. The cumulative installed capacity of solar in India, as of FY2016, was 6.8 GW.[1] Fast-forward to August 31, 2022, the cumulative grid-connected solar power capacity of India stands at ~61 GW.[2] Now, with less than four months to the deadline…

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India Added 8.4 GW of Solar Capacity in the First Half of 2022

India Added 8.4 GW of Solar Capacity in the First Half of 2022 From January 2022 till June 2022, about 8,359 MW solar capacity was added in India. This is about 71% higher compared to the same period in the previous year. In terms of cumulative installations till June 2022, according to the Ministry of New and Renewable Energy (MNRE), India’s renewable energy (RE) installed capacity reached 114 GW. Solar energy contributes approximately 51% share of the total RE segment,…

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PM-KUSUM Scheme Tender Issuance Fast-tracks in H1 2022; However, Capacity Allocation Remains A Laggard

PM-KUSUM Scheme Tender Issuance Fast-tracks in H1 2022; However, Capacity Allocation Remains A Laggard In 2019, the Indian government launched a national scheme for farmers with the intention of improving their energy security and de-dieselise the agriculture sector. The scheme is called Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyaan (PM-KUSUM). The KUSUM has a target of setting up 30.8 GW of solar power for agriculture by 2022, which is being undertaken through three scheme components – Component A: For…

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In April 2022, Price of GTAM-traded Power Surged By 2.5–2.7X Year-on-Year

In April 2022, Price of GTAM-traded Power Surged By 2.5–2.7X Year-on-Year The exchange-based renewable energy (RE) market (or green power market) of India is growing at an encouraging pace. This market can be categorized into two sub-markets – green day-ahead market (GDAM)[1] and green term ahead market (GTAM)[2]. The green power market (GDAM+GTAM) came into existence with the introduction of GTAM in August 21, 2020. As of April 2022, the green power market traded 7,660 million units (MU) of renewable…

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