Monthly RE Update – January 2023
Our monthly market intelligence report on renewables covers the following content: - Tenders: In January 2023, 14 new renewable energy (RE) tenders with a cumulative capacity of 7966 MW were issued.
- Rajasthan Urja Vikas Nigam Ltd (RUVNL) issued a 1500 MW wind solar hybrid with storage tender. In addition, RUVNL floated a 1000 MW solar tender in Rajasthan.
- About 2911 MW solar tenders were issued under Component-C of KUSUM scheme by various agencies including- MPUVNL, BESCOM, MSEDCL and KREDL in January 2023.
- Installed Capacity: In the month of December 2022, about 1336 MW of new solar capacity was added, taking the cumulative RE capacity to 120.85 GW.
- Auction Completed: GUVNL concluded the auction of its 500 MW Phase XVIII solar tender and 300 MW Phase IV wind tender in January 2023.
- Project Commissioned: Avaada commissioned 250 MW solar power project under MSEDCL's 500 MW Phase V solar tender in Maharashtra. Azure commissioned 151 MW solar power project under SECI's 1200 MW Tranche IV solar tender in Rajasthan.
- Key deals/ financing trends: In January 2023, about $42.8 million was invested in the RE sector in India.
- IEX – PXIL GTAM Trend: The IEX and PXIL together traded a total of 104.4 MU in GTAM in January 2023, which is 49% lower than the volume traded in December 2022. The average trade price in IEX-GTAM for January 2023 was INR 7.8/kWh, while for PXIL it was INR 6.1/kWh. This is about 36% and 10% higher than the previous month's prices.
- Module price trends: Domestic module prices have remained same in January 2023.
- Policy and regulations: In this month, 9 central and 5 state-level policies/ notifications/ regulations/ orders were issued.
| | Monthly EV Update - January 2023
Our monthly report on electric vehicles (EV) is a useful guide for automobile manufacturers, OEM suppliers, and investors to keep abreast of the latest updates in the sector. This monthly update covers the following content: - Product Launches: In January 2023, 14 new electric vehicles were launched including 1 E2W; 1 E-Bicycle, 1 E-SCV (small commercial vehicle), 2 E-Cars, 1 E-Bus, and 5 E-3W (Passenger), and 3 E-3W (Cargo). 2 new E-Cars by Tata Motors and Citroen are expected to be launched in the coming 2-3 months.
- EV Sales Trends: The overall EV sales in January 2023 reached 1,00,562 units, registering a m-o-m fall of ~1.6% but a y-o-y leap of more than 100%.
- Policies and Regulations: At the central level, union budget for the upcoming financial year has been announced which has allocated INR35,000 crore for energy transition along with extension of duty concessions on Li-ion batteries. The government is also tightening its nooze on EV makers that have wrongly claimed FAME-related subsidies. At the state level, while Tamil Nadu's updated EV policy is expected be out soon, Delhi's EV fleet draft policy has met with protests from companies like Ola, Zomato, and Zepto.
- Charging Infrastructure and Battery Swapping: More than 250 chargers and 50 charging stations to be installed in the coming months. The sector also witnessed a large number of partnerships for setting up charging and battery swapping infrastructure and launching innovative services like WhatsApp-based payment gateway for EV charging.
- Key Manufacturing Updates: Announcement of setting up of new manufacturing facilities for batteries and cells, powertrains, electric two-wheelers, and electric cars.
- E-Bus and Other Market Updates: Floating of yet another tender by State-owned Convergence Energy Services Ltd. (CESL) and launch of E-Buses around metro stations of Greater Noida soon. Plans of more global car companies to make inroads into Indian E-Car segment soon and launch of experience centres/EV showrooms by EV OEMs across different parts of India.
- Deals & Investments: Investments worth ~INR760 crore announced in the segments of EV and battery manufacturing as well as EV charging
- JVs & Partnerships: 16 new announcements during the month
- Global Market Updates: Prominent EV-related developments captured
| | | | |
