Market trends

4.45 GW utility scale RE tenders allotted in first two weeks of FY2024 First two weeks of April 2023 have seen a flurry of activity in utility scale RE market, with around 4.45 GW of tenders being allotted. The tenders allotted during these two weeks include three vanilla solar tenders, one wind solar hybrid (with energy storage) and one (Round-the-clock) RTC tender. Around half of these allotments (49.4%) is for non-vanilla RE tenders, including Wind Solar Hybrid (with energy storage)…

India added 12.8 GW solar capacity in FY2023 In Financial Year 2023 (FY) i.e., from April 2022 till March 2023, approximately 12,784 MW solar capacity and 2,276 MW of wind capacity was added in India. Solar installations decreased by 8% while wind installations increased significantly by 105% as compared to FY2022. In terms of cumulative installations, according to the data released by Ministry of New and Renewable Energy (MNRE) till March 2023, India’s RE installation capacity reached 125.2 GW. Solar…

39.6 GW cumulative solar PV module manufacturing capacity allotted under PLI Tranche 2 On 18th November 2022, the Solar Energy Corporation of India (SECI) issued the tender for the second tranche of the production-linked incentive (PLI) scheme for setting up manufacturing capacities for high efficiency solar PV modules in India. The total outlay for the second tranche of PLI is Rs 19,500 crore (US$2.6 billion). The government expects this to substitute PV imports worth Rs 1,40,000 crore (US$16.94 billion) annually and create 975,000…