Monthly RE Update – May 2023

Monthly RE update – May 2023

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Tenders

  • In May 2023, 17 new renewable energy (RE) tenders with a cumulative capacity of 16458.42 MW were issued.  
  • RUMSL issued 13.8 GW of Pumped Storage tender in Madhya Pradesh.
  • PSPCL issued a 1000 MW solar tender in Punjab.
  • GUVNL issued an 800 MW (Phase XX) solar tender in Gujarat.
  • About 832 MW of Solar (Under KUSUM Scheme Component-C) were issued in Rajasthan.

Details of new RE tenders issued in May 2023

PBG: Performance Bank Guarantee

EMD: Earnest Money Deposit Source: JMK Research

Source: JMK Research

New RFS Issued

Tender Name

Technology

Tender Scope

Capacity (MW)

Other Details

Minimum CUF

Commissioning timeline from PPA signing (months)

Bid Submission Date

RUMSL, 13.8 GW, Pumped Hydro Storage, Madhya Pradesh, May 2023

Pumped Hydro Storage

Project Development

13800

EMD- INR 1.0 million

PBG- INR 0.2 million/MW

4th-July- 2023

PSPCL, 1000 MW, Solar, Punjab, May 2023

Utility Scale Solar

Project Development

1000

EMD- INR 0.40 million/MW

PBG- INR 1.18 million/MW

19%

18

10th-July- 2023

GUVNL, 800 MW, Solar (Phase XX), Gujarat, May 2023

Utility Scale Solar

Project Development

800

EMD- INR 0.4 million/ MW

PBG- INR 0.4 million/MW

17%

15

15th– June- 2023

JVVNL, 347 MW, Solar (under KUSUM scheme Component C), Rajasthan, May 2023,(4 tenders)

Small Scale Solar

Project Development

347

EMD-INR 0.1 million/MW

PBG-INR 0.5 million/MW

19%

9

 

10th to 21st ,June-2023

JDVVNL, 485 MW, Solar (Under KUSUM scheme Component- C), Rajasthan, May 2023, (8 tenders)

Small Scale Solar

Project Development

485

EMD- INR 0.1 million/ MW

PBG-INR 0.5 million/MW

19%

9

5th to 27th – June 2023

Southeastern Railway, 13.54 MW, Rooftop Solar, Odisha, Jharkhand, and West Bengal, May 2023

Rooftop Solar

13.2

EMD- INR 1 million/MW

PBG-INR 1.6 million/MW

8

19th- June-2023

HPCL, 12.88 MW, Solar (EPC), Delhi, May 2023

Utility Scale Solar

EPC

12.88

EMD- INR 0.45 millionPBG- 10% of the contract value

6

5th-June-2023

Date Extensions

Tender Name

Technology

Tender Scope

Capacity (MW)

Other Details

Minimum CUF

Commissioning timeline from PPA signing (months)

Bid Submission Date

SECI, 2000 MW, Solar ISTS XI, Pan India, Mar 2023

Utility Scale Solar

Project Development

2000

EMD – INR 1.16/MW

PBG-INR 1.14 million/MW

17%

18

14th– June- 2023

Adani, 1500 MW, RTC Power from RE Projects, Pan India, Dec 2022

Hybrid

Project Development

1500

EMD – INR 0.5 million/MW/project

PBG-INR 1 million/MW/Project

24

5th-June-2023

NTPC, 1500 MW (min) with 9000 MWh ESS, Pan India, Apr 2023

Energy Storage System

Project Development

1500 MW with 9000 MWh ESS

EMD – INR 1.2 million/MW

10th- July-2023

RUVNL, 1200 MW, Solar Power with ESS,Pan India, Mar 2023

Energy Storage System

Project Development

1200

EMD- INR 1.2 million/MW

PBG – INR 1.8 million/MW

35%

24

07th-June-2023

MPUVNL, 1110 MW, Solar (KUSUM Component-C), Madhya Pradesh, Jan 2023

Small Scale Solar

Project Development

1110

EMD- INR 0.1 million/MW

PBG – INR 0.5 million/MW

15%

12 months

06th– June- 2023

GUVNL, 700 MW, Solar Phase XI, Gujarat, Mar 2021

Utility Scale Solar

Project Development

700

EMD – INR 0.4 million/MW

PBG-INR 0.9 million//MW

17%

15

09th-June-2023

UHBVN, 500 MW, Solar, Haryana, Apr 2023

Utility Scale Solar

Project Development

 

500

EMD- INR 0.8 million/MW

08th– June-2023

GUVNL, 500 MW with  1000 MWh BESS(Phase-I), Gujara,Aug 2022

Energy Storage System

Project Development

500 MW with 1000 MWh

EMD – INR 0.74million/MW

PBG-INR 1.1 million/MW

18

12th-June-2023

GUVNL, 500 MW, RE with 250 MWh ESS Phase (XV), Gujarat, Jun 2022


RE with Energy Storage System

Project Development

500 with 250 MWh ESS

EMD – INR 1 million/MW

PBG-INR 2.5 million/MW

Wind – 22% Solar – 17% Hybrid – 30%

18

06th-June-2023

Source: JMK Research

Auction Completed

About 2050 MW of RE tenders were auctioned and allotted in May 2023. The tenders include two vanilla solar tenders, one wind solar hybrid and one wind tender.

Winners in the latest RE auctions

Source: JMK Research

Tender Name

Capacity Tendered (MW)

Capacity Allotted (MW)

Minimum CUF

Commissioning timeline from PPA signing

Winner Details

RUVNL, 1000 MW, Solar, Rajasthan, Jan 2023

1000

1000

17%

18

• BluPine Energy – 150 MW (INR 2.61/kWh) • Jakson Limited – 100 MW (INR 2.61/kWh)• Shiva Corporation – 50 MW (INR 2.61/kWh)• SAEL – 200 MW (INR 2.61/kWh)• Mahindra Susten – 200 MW (INR 2.61/kWh)• Avaada – 200 MW (INR 2.62/kWh)• SJVN Limited- 100 MW (INR 2.62/kWh)

GUVNL, 600 MW, Solar (Phase XVII), Gujarat, Sep 2022

600

600

17%

15

• NHPC – 200 MW (INR 2.73/kWh)• SJVN Limited- 200 MW (INR 2.88/kWh)• NTPC – 200 MW (INR 2.89/kWh)

GUVNL, 500 MW, Wind (Phase-V), Pan India, Mar  2023

500

300

22%

24

• Juniper Green Energy – 70 MW (INR 3.11/kWh)• Evergreen Renewables- 30 MW (INR 3.17/kWh)• SJVN Limited – 100 MW (INR 3.17/kWh)• BluPine Energy- 100 MW (INR 3.17/kWh)

CESC, 150 MW, Wind-Solar Hybrid, Pan India, Feb 2023

150

150

30%

24

• AMP Energy – 150 MW (3.07/kWh)

Source: JMK Research

Installed Capacity

In April 2023, a combined total of 533 MW of solar and wind capacity was added, taking the cumulative RE capacity to 125.7 GW.

Source: MNRE, JMK Research
Note: Solar includes utility scale solar, rooftop solar and off grid/distributed solar segments

State wise solar and wind installed capacity in April 2023

In April 2023, Rajasthan installed the maximum solar capacity of 88 MW followed by Gujarat (59 MW), Madhya Pradesh (38 MW), Tamil Nadu (32 MW) and Kerala (31 MW). Whereas Gujarat added the maximum wind capacity of 165 MW in the country followed by Tamil Nadu (56 MW) in April 2023.

State wise solar installed capacity in April 2023

Source: MNRE, JMK Research

Recently Commissioned RE projects

Developer

Technology

Capacity

Tender name

Tariff (INR/kWh)

Consumer

State

Adani Wind Energy Kutch five Limited

Wind

130 MW

2.83

SECI

Gujarat

InSolare Energy

Solar

70 MW

Seven Industrial Consumers (Open Access)

Maharashtra

KP Energy

Wind

29.4 MW

SECI Pan India 1,800 MW VIII, Aug-2019

2.83

Gujarat

KPI Green Energy

Solar (Captive)

10.18 MWp

• Nouveau Jewellery LLP• Isha Prints LLP• Labhuben Moradiya (Verni Textile)• General Petrochemicals Pvt. Ltd.• Savalia Texturisers Pvt. Ltd

Gujarat

KP Energy

Solar (Open Access)

10 MW

C&I

Gujarat

Biju Patnaik International Airport

Solar (Captive)

4 MWp

Captive

Odisha

Oriana Power

Rooftop Solar

2.7 MW


IOCL

Haryana

Source: Industry news articles, JMK Research

Other key announcements that were made during the month were:

  • Suzlon has bagged an order to develop a 69.3 MW wind power project from Juniper Green Energy in Gujarat. The wind project is expected to be commissioned by 2024.
  • PTC India has signed an agreement with Brookfield Renewables for the purchase of 100 MW solar power on a long-term basis. Brookfield Renewables is developing a 400 MW solar power project in Rajasthan. The agreement includes an option to increase the power capacity to 200 MW at the time of project commissioning based on mutual confirmation by the two parties.
  • TP Saurya Ltd has signed a 25-year power purchase agreement with Tata Power Trading Co. for its upcoming 200 MW AC solar project in Rajasthan. The plant is set for commissioning by March 2024.
  • Gujarat Urja Vikas Nigam Limited (GUVNL) has issued a Letter of Intent (LOI) to Gujarat Industries Power Company Limited (GIPCL) for 600 MW capacity solar power projects at Khavda, Gujarat. GIPCL is required to sign a PPA with GUVNL as a part of the bid documents. The estimated financial implication for the solar power project according to GIPCL would be INR 3,600 Crore (approx.).
  • NHPC has been granted a LOI by Gujarat Urja Vikas Nigam Ltd (GUVNL) to construct a solar power project of 200 MW for INR 1007.6 crore in Gujarat. The project will be located within Gujarat State Electricity Corporation Limited’s Solar Park in Khavda (GSECL Stage-1).
  • Suzlon group has received an order from Vibrant Energy for 33 wind turbine generators with a capacity of 3 MW each series with a Hybrid Lattice Tubular tower for a 99 MW wind power project. This project is expected to be commissioned by FY 2025.
  • Vibrant Energy and Saint Gobain India has signed a long-term power purchase agreement (PPA) to deliver a round-the-clock (RTC) power supply from 75 MW AC/100 MW DC of a wind-solar Hybrid project in Madhya Pradesh.
  • SJVN Limited is planning to develop pumped hydro storage projects with a total capacity of 5 GW over the next 7-10 years with an estimated investment of approximately INR 50,000 crore. SJVN has been entrusted with 12790 MW pumped hydro storage projects, across various states. While projects are planned in Maharashtra, Himachal Pradesh and Mizoram. The country aims to establish 18 GW of PSP projects by 2032.
  • Sami-Sabinsa Group has signed a long-term mutual agreement with O2 Renewable Energy for the purchase of 150 MU of renewable power over a 25-year period in captive mode. The project is expected to be commissioned by October 2023.
  • Sterlite Copper has signed an agreement for 16 MW hybrid power with Serentica Renewables to implement a special purpose vehicle (SPV) for sourcing hybrid Renewable energy. This project will be constructed on a captive model on a build own-operate basis.

Monthly RE Generation

In May 2023, Renewable energy sources generated 17635 MU, which is 20.6% higher than the RE generation in April 2023. Solar and wind generation increased by 3.15% and 64% respectively, on month-on-month basis, in May 2023.

Source-wise Renewable Energy Generation (MU) – India

Source: CEA, JMK Research

Investments/ Deals

In May 2023, about $487.3 million was invested in the RE sector in India. The key investments during the month were:

  • India Grid Trust has signed a share purchase agreement for the acquisition of 100% units in Virescent Renewable Energy Trust at an enterprise value of up to $486 million for cash consideration.
  • Solar Ladder has raised $1.3 million in seed funding from Axilor Ventures, Titan Capital, DeVC, Stride Ventures, and angel investors. The funds will be used to distribute software that automates processes for solar installers, allowing them to expand their business 10-fold and aims to become the go-to ecosystem for solar installation companies.

Company Name

Deal Type

Sector

Investor

Deal Value

Stake Acquired

Virescent Renewable Energy

Acquisition

Renewable

· IndiGrid

$486 million

100

Solar Ladder

Equity

Solar

· Axilor Ventures· Titan Capital· DeVC· Stride Ventures· Atha Group· NIPHA Group· Mama earth· Groyyo· Brain and Co

$1.3 million

Source: Industry news articles, JMK Research

Other important announcements that were made during the month were:

  • I Squared Capital and Hinduja Renewables are planning to acquire Fourth Partner Energy at an equity value of about $350 million. Bank of America and Investec are managing the sale of TPG Capital’s 52% stake in Fourth Partner Energy
  • REC listed its recently issued green bonds, which raised $750 million under its global medium-term program of $7 billion, at the GIFT International Financial Services Centre (IFSC) Stock Exchanges in Gandhinagar. The issue was oversubscribed 3.5 times and saw active participation from 161 investors from across the globe, with Asia Pacific (APAC) contributing 42%, Europe, Middle East & Africa (EMEA) 26%, and the US 32%. The issuance of green bonds by REC is the largest ever senior US dollar tranche by an Indian non-banking financial company.
  • Japan’s Mitsui & Co. and Osaka Gas have placed non-binding bids to buy a 30% stake in ReNew Energy Global Plc’s 2.3 GW commercial and industrial project portfolio. The equity value of the transaction is pegged at about $300 million and is part of ReNew Energy Global’s capital recycling strategy. Last year, Mitsui acquired a 49% stake in ReNew Energy’s 1.3GW renewable energy project and 100MWh battery storage farm.
  • NLC India has approved raising up to INR 5,000 crore through the issuance of debentures in the ongoing financial year. The company’s board has also approved a proposal for the incorporation of a wholly-owned subsidiary company to take over the existing renewables assets. The company is into the production of thermal as well as renewable energy-based power.
  • Hong Kong’s Gaw capital partners is in advanced talks with Atria Power Corporation to acquire an estimated equity value of $250 million. Atria Power has a 600 MW portfolio, of this, 250 MW dedicated to the commercial and industrial (C&I) sector.
  • BPCL is planning to invest INR 52,731 crore for the expansion of the petrochemical and renewable energy project at its Bina refinery. BPCL will invest INR 49,000 crore for the expansion of the Ethylene cracker project of refinery capacity from 7.8 MMTA to 11 MMTA. BPCL will establish two 50 MW wind power plants in Madhya Pradesh and Maharashtra with a total cost of INR 978 crore and will be used for captive consumption at Bina & Mumbai refineries.
  • Waaree Energies is in talks with HNIs and family offices to raise INR 1000 Crore at a valuation of INR 13,000 Crores to part-finance its capital expenditure plans. The fund will be used for the financial requirements for its INR 8,000 crore capex plan to set up 6 GW of manufacturing capacity each for the solar module, cells, ingots, and wafers under the PLI scheme.
  • The government has appointed IDBI capital, BOB capital and SBI capital to manage the IPO of the IREDA. The IPO, which is expected in FY24, will likely consist of 10% stake sale by the government and 15% fresh equity issuance by the RE project financier to fund its business growth. The IREDA company has now financed more than 3,068 RE projects loan accounts with cumulative loan sanction and disbursement to INR 1.42 trillion and INR 0.9 trillion respectively and it has supported RE capacity addition of 19,502 MW in the country.
  • Adani Green Energy is planning to seek board approval to raise INR 6,150 crore ($750 million) to INR 8,200 crore ($1 billion) through the qualified institutional placement (QIP) route. Two other group companies got approval from their boards for fundraising -Adani Enterprises (INR 12,500 crore) and Adani Transmission (INR 8500 crore). In addition Adani planning to invest up to $3 billion in seaport and renewable energy projects in Vietnam.
  • Suzlon to raise $350 million in debt from the offshore market with Deutsche Bank. This is in addition to INR 2,000 crore raised by selling non-convertible debentures (NCD). The funds raised will be utilized to prepay Suzlon Energy’s debt and capital expenditure. It will help the company in meeting foreign currency convertible bonds (FCCBs) worth $35,931,200, which were originally due for payment in 2032.
  • BP is competing with Petronas to invest $1.5- 2 billion for a significant minority stake in a new platform owned by two founders. Greenko is expected to select one of the above two energy companies and will be the biggest overseas investment in a green ammonia and hydrogen project in India.

GTAM Traded Volume

The IEX traded a total of 94 MUs in GTAM in May 2023, which is 56% more than the volume traded in April 2023. The average trade price in IEX-GTAM for May 2023 was INR 5.10/kWh. This is about 16.3% lower than the previous month’s price.

GTAM traded volume and average traded price trend

Source: IEX, JMK Research

Key Market Updates

Solar Manufacturing

Tata Power’s 4 GW solar cell and module manufacturing factory will be operational by December 2023 in Tamil Nadu

Tata Power is planning to set up a 4 GW Solar cell and module manufacturing factory in Tamil Nadu. The expected timelines for module manufacturing factory will be ready by October 2023 and Cell factory by the December 2023

Gautam Solar to add 500 MW of TOPCon panel production capacity

Gautam Solar will add a 500 MW TOPCon module production line, bringing its total panel capacity to 1 GW. The line will start production by September 2023. Gautam Solar is procuring the fully automated, n-type TOPCon production line from Jinchen. The supply deal was signed at SNEC, 16th International Photovoltaic Power Generation and Smart Energy Conference and Exhibition.

IB Solar plans to expand its solar module manufacturing capacity to 500 MW by July 2023

IB Solar is planning to expand its solar module manufacturing capacity to 500 MW with the addition of a 400 MW fully automated line in Noida, Uttar Pradesh by July 2023. The new 400 MW facility can produce M10, half-cut, 144-cell modules whereas the existing 100 MW facility produces polysilicon and mono-silicon modules. The company is also planning to enter cell manufacturing by 2026.

Storage

NTPC plans to install 20 GW RE capacity with pumped storage at Andhra Pradesh green hydrogen hub

NTPC is planning to install 20 GW (13.4 GW solar + 6.6 GW PSP) of renewable power capacity, including storage, which will be utilized for manufacturing green hydrogen through electrolysis. The land around 50 km from Visakhapatnam, has been allotted by the AP Industrial Investment Corporation (APIIC), and the project is expected to be completed by 2030, with the first half to be completed by 2026-27

Sunlit Power plans to invest INR 100 crore investment in battery manufacturing

Sunlit Power is planning to invest INR 100 crore over the next two years to set up an automated manufacturing unit in Pune and it will be commissioned by October 2023. The company also plans to expand its presence across Kerala, Chennai, Delhi, and Bangalore in the current financial year. The company will be producing solar off-grid solutions and inverters for the MNC and batteries for high-speed electric bikes.

NLC signs MOU with WAPCOS to develop Pumped storage projects in India

NLC has signed a MoU with WAPCOS Ltd for carrying out collaborative technical services and advisories for the development of various pumped storage, reservoir/storage, and run-of-river hydropower projects in India. NLC is planning to increase its renewable power generation capacity to 6.03 GW by 2030 while implementing various solar and wind projects.

Green Hydrogen

Larsen & Toubro’s electrolyzer facility to start production this fiscal

Larsen & Toubro expects to start production from its electrolyzer factory by the end of this fiscal year 2023-24. The company is setting up a pressurized alkaline electrolyzer manufacturing facility with a capacity of 1 GW per annum. It will manufacture electrolyzers at this facility under a technology license from McPhy France.

BPCL collaborates with BARC to scale up alkaline electrolyzer technology for green hydrogen production

Bharat Petroleum Corporation limited (BPCL) is planning to build about 1 MW electrolyzer manufacturing capacity in the country by 2025 using the Bhabha Atomic Research Centre’s (BARC) technology for green hydrogen. The alkaline electrolyzers produced from the proposed facility will likely cost 20-30% less than the current rate of about $800 per kW.

Oil companies are targeting 38,000 tonnes per annum of green hydrogen capacity

Oil and gas companies are targeting to build a combined green hydrogen generation capacity of 38,000 tonnes per annum by the next financial year. The planned green hydrogen facilities would require setting up a combined electrolyzer capacity of 279 MW by 2024-25. Hindustan Petroleum is planning to have 115 MW capacity at its refineries in Visakhapatnam and Barmer. GAIL is targeting a capacity of 60 MW. Indian Oil is planning to develop a capacity of 56 MW at its Mathura and Panipat refineries

Inox Air plans to tap markets for green hydrogen business

Inox Air Products Ltd is planning to enter the equity market to finance an expansion into the green hydrogen business with an investment of up to INR 10,000 crore.

Other Market Updates

India plans 37 GW offshore wind energy power by 2030

India is planning to invite bids to set up about 37 MW capacity in a phased manner by 2030 which could attract an investment of about $100 billion. Tamil Nadu and Gujarat have more than 70 GW of offshore wind power potential, which is more than the current global capacity of 64 GW. Tamil Nadu and Gujarat are ready to buy power from their initial few projects at around INR 4/kWh.

MAHAPREIT and GEAPP partner to implement 1 GW of solar projects in Maharashtra

Global Energy Alliance for People and Planet (GEAPP) and Mahatma Phule Renewable Energy and Infrastructure Technology Ltd (MAHAPREIT) have announced a strategic partnership to implement 1 GW of solar projects across Maharashtra. GEAPP and MAHAPREIT will collaborate to implement 500 MW of rooftop solar for small and medium enterprises and 500 MW of ground-mounted decentralized solar under the PM KUSUM program. With this project, GEAPP will solarize agriculture feeders and SMEs.

Central Electricity Authority issued report on Optical Generation Mix for 2029-30

Optimal Generation Mix for 2029-30” issued by CEA which endeavors about determining the most efficient and cost-effective mix of electricity generation sources to meet India’s energy needs in 2029-30. The objective of the report was to find out the least cost-optimal power generation capacity mix, which may be required to meet the peak electricity demand of 340 GW and electrical energy requirement of 2400 BU by the year 2029-30.

Resource

All India (MW)

% of Total Installed Capacity

Hydro

53860

6.93%

Small Hydro

5350

0.69%

PSP

18986

2.44%

Solar PV

292566

37.65%

Wind

99895

12.85%

Biomass

14500

1.87%

Nuclear

15480

1.99%

Coal+Lignite

251683

32/38%

Gas

24824

3.19%

Total

777144

100%

BESS(MW/MWh)

41650 MW/208250(MWh)

 

Comparing on m-o-m basis, price for global mono PERC modules have decreased by 2.32% in May 2023.

Solar modules price trends

Source: PVInfoLink, JMK Research

Average prices for domestic modules

JMK Research carried out price survey from domestic suppliers for May 2023 and as per the responses received, the all-inclusive domestic module prices till project site (including freight charges, GST etc) for various categories are:

  • The price for mono PERC 440 Wp modules was INR 25/Wp in May 2023, down by 9.7% as compared to previous month’s price.
  • The May price of mono PERC 500 Wp modules was INR 27/Wp which is 10% less than the price of modules in April.
  • The price for Polycrystalline 330 Wp modules was INR 24.5/Wp, which is about 6.5% less than the previous month’s price.
  • The price for Bifacial modules was INR 29/Wp in May, which is 6.4% less than the price of modules in April.

The prices have fallen due to drop in polysilicon prices in China and it is anticipated that the prices will continue to fall in the next month.

Source: JMK Research
Note: Domestic module prices are all inclusive prices till project site including freight charges, GST, etc

Policies and Regulations

Central

Policy Name

Issuing Agency

Date of Issue

MNRE allows time extension for solar and solar-wind hybrid projects tendered by SECI, NTPC and NHPC

MNRE

01st- May- 2023

CERC approves Ancillary services market segments on the power exchanges

CERC

28th– April- 2023

Ministry of Power and Ministry of Environment, Forests and Climate Change to develop Carbon Credit Trading Scheme for Decarbonisation

MoP, MoEFCC

11th– May- 2023

MoPSW launched ‘Harit Sagar’ guidelines to reduce carbon Intensity from Ports

MoPSW

11th– May- 2023

The Power Ministry panel outlines a roadmap to develop the electricity market in India

MoP

14th– May- 2023

MNRE revised the Application fee and inspection fee under ALMM

MNRE

10th– May- 2023

MoP orders all the SERCs/JERCs for determination of green tariff

MoP

13th– May- 2023

MoF issued the tender for the engagement of Registrar and RTA for listing IREDA through IPO

MoF

15th– May- 2023

CERC has given compensation to Hero Solar Energy Private Limited for the change in GST

CERC

17th– May- 2023

MoP issued an order regarding the waiver in interstate transmission charges from offshore wind, Ammonia and Green Hydrogen Projects

MoP

29th- May- 2023

MoP issues Electricity (Promoting Renewable Energy Through Green Energy Open Access) (Second Amendment) Rules, 2023

MoP

23rd- May-2023

MNRE extended the commissioning date for undergrounding of transmission lines in habitats of GIB in Rajasthan and Gujarat

MNRE

31st-May- 2023

State

Policy Name

Issuing Agency

Date of Issue

RERC issues the draft Grid Interactive Distributed Renewable Energy Generating Systems (First Amendment) Regulations, 2023

RERC

01st– May- 2023

RERC issues a draft Terms and Conditions for Tariff determination from Renewable Energy Sources) (First Amendment) Regulations, 2023

RERC

01st– May- 2023

KERC grants captive status to Clean Wind Power’s 50 MWwind power project in Karnataka

KERC

02nd– May-2023

Kerala State Electricity Board proposed INR 2.54/kWh premium tariff for green energy consumers

KSEB

02nd– May-2023

MPERC issued guidelines for Pumped storage project

MPERC

10th- May-2023

HERC approves the additional surcharge for open-access consumers

HERC

11th– May-2023

Gujarat framed green hydrogen land policy

GUVNL

02nd– May-2023

MERC approves INR 2.90/kWH to procure 500 MW in long term basis from solar power project

MERC

11th– May-2023

MERC grants approval for procurement of 150 MW solar power under MSKVY at a tariff of INR 3.30/kWh

MERC

11th– May-2023

MERC approves tariff of 500 MW of solar project in Maharashtra

MERC

11th– May-2023

KERC issues the draft amendment of open access regulation (fifth amendment) 2023

KERC

05th– May-2023

GERC adopts tariff of INR 2.51/kWh for procuring 860 MW solar power

GERC

19th- May 2023

MERC issues Generic Renewable Energy Tariff for FY 2023-24

MERC

24th- May- 2023

MERC approves the tariff of INR 3.10/kWh for the 117.5 MW of Solar Power

MERC

24th- May- 2023

MERC allowed TATA Power (DISCOM) to procure short-term power at INR 7.60/kWh

MERC

25th- May- 2023

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