Monthly RE Update – February 2023
Our monthly market intelligence report on renewables covers the following content: - Tenders: In February 2023, 24 new renewable energy (RE) tenders with a cumulative capacity of 8508 MW were issued.
- SECI issued a 1200 MW wind (Phase XIV) tender in India.
- MSEDCL floated a solar tender of 1000 MW in Maharashtra. In addition, MSEDCL floated a tender for procurement of power from 500 MW solar power projects with green shoe option of additional 500 MW capacity.
- Power Company of Karnataka Limited (PCKL) issued a 1000 MW pumped hydro storage tender in Karnataka.
- Paschim Gujarat Vij Company Limited (PGVCL) issued a solar tender of 921 MW under Component-C of KUSUM scheme in Gujarat.
- Installed Capacity: In January 2023, a combined total of 679 MW of solar and wind capacity was added, taking the cumulative RE capacity to 121.55 GW.
- Bids Submission: Bids submission has been concluded under RECPDCL's 500 MW solar tender in February 2023.
- Project Commissioned: NTPC commissioned 50 MW solar power project under SECI's 2000 MW CPSU Tranche I solar tender in Rajasthan.
- Key deals/ financing trends: In February 2023, about $499 million was invested in the RE sector in India.
- IEX – PXIL GTAM Trend: The IEX and PXIL together traded a total of 133 MUs in GTAM in February 2023, which is 27.4% higher than the volume traded in January 2023. The average trade price in IEX-GTAM for February 2023 was INR 9.2/kWh, while for PXIL it was INR 6.2/kWh. This is about 17.9% and 1.6% higher than the previous month's prices.
- Module price trends: In February 2023, domestic module prices shows downward trend with a m-o-m decrease of around 1.1%.
- Policy and regulations: In this month, 8 central and 3 state-level policies/ notifications/ regulations/ orders were issued.
| | Monthly EV Update - February 2023
Our monthly report on electric vehicles (EV) update covers the following content: - Product Launches: 5 new electric vehicles were launched, including 4 E-scooters by Okaya, Greaves and River Indie and 1 E-Car by Citroen
- EV Sales Trends: The overall EV sales in February 2023 reached to 1,05,976 units, registering a m-o-m rise of ~5% and a y-o-y leap of around 94%
- Policies and Regulations: At the state level, Tamil Nadu release its new EV policy and Punjab cabinet approved the Punjab Electric Vehicle Policy-2022
- Charging Infrastructure and Battery Swapping: Plans by multiple players to install more than 1900 charging stations and 650 swapping stations
- Key market updates: Announcement of operationalizing new manufacturing facilities by OEMs like Tata Motors and Kabira Mobility. Further the finding of Lithium inferred resources to the tune of 5.9 million tonnes in J&K, India has expected to become key cell raw material supplier globally
- Deals & Investments: Investments more than ~INR700 crore announced in the segments of EV charging and EV manufacturing
- JVs & Partnerships: 12 new announcements were made during the month
- Global Market Updates: Prominent EV-related developments captured
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