Market trends

Andhra Pradesh Issues US$ 119 billion Integrated Clean Energy (ICE) Programme In a bid to transform Andhra Pradesh into a clean energy hub and achieve net zero by 2047, the state government has issued its Integrated Clean Energy (ICE) policy on 17th October 2024. The policy with a control period of 5 years until 2029 envisages approximately Rs. 10 lakh crore (US$ 119 billion) of investment inflow and 160 GW of new installed RE capacity. The policy looks to leverage…

Solar and wind capacity added in H12024 outpaced CY2023 installations In H12024, from January to June, India added about 12,156 MW of Solar Capacity and 1,920 MW of Wind Capacity. This marks a 78.9% increase for solar installations and 2.3% for wind installations compared to the same period in 2023. Notably, the total capacity added in the first half of 2024 has already surpassed the total additions in CY2023. With these new additions, India’s total installed renewable energy (RE) capacity…

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, highlights that 72% of the enlisted modules are high-efficiency technologies. The update shows a total enlisted capacity of…

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. India’s offshore wind power capacity target for 2030 underscores the growing importance of this technology in advancing sustainable energy solutions. Although the global offshore wind market size is close…