Market trends

72% of PV modules enlisted in the latest ALMM list are of high-efficiency technologies

72% of PV modules enlisted in the latest ALMM list are of high-efficiency technologies Following a temporary slowdown in enlistment in the previous financial year due to ALMM being kept under abeyance until March 2024, module enlistments have bounced back swiftly in recent months. The latest update of ALMM, issued by the Ministry of New and Renewable Energy (MNRE) in May 2024, has a total enlisted capacity of 48.1 GW spread over 90 manufacturing entities, indicating more than 2x year-on-year…

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Can India achieve 30 GW offshore wind capacity target by 2030?

Can India achieve 30 GW offshore wind capacity target by 2030? Offshore wind technology utilizes turbines installed at sea and offers a reliable and clean renewable energy source with higher efficiency due to consistent, unobstructed winds. Offshore wind technology offers a significantly higher (~10-15%) capacity utilization factor (CUF) vis-à-vis onshore wind. Although the global offshore wind market size is close to 75 GW, India doesn’t have any installed offshore wind capacity. However, India’s target of 500 GW renewables by 2030…

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SECI concludes the Rs 4440 crore Electrolyser Manufacturing Component of its SIGHT program

SECI concludes the Rs 4440 crore Electrolyser Manufacturing Component of its SIGHT program Can meet 52% of India’s 5 MMTPA green H2 production target in 2030 Indian government launched National Green Hydrogen Mission (NGHM) in January 2023, to position India as a global hub green hydrogen production, utilisation and export. The mission targets a green hydrogen production capacity of 5 million metric tonnes a year (MMTPA) and the addition of 125 gigawatts (GW) of renewable energy capacity by 2030, with…

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India installed 15 GW solar and 3.3 GW wind capacity in FY2024

India installed 15 GW solar and 3.3 GW wind capacity in FY2024 In Financial Year 2024 (FY) i.e., from April 2023 till March 2024, approximately 15,033 MW solar capacity and 3,253 MW of wind capacity was added in India. Solar and wind installations increased by 17.6% and 42.9% respectively as compared to the same period the previous year. In terms of cumulative installations, according to the data released by the Ministry of New and Renewable Energy (MNRE) till March 2024,…

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