Monthly RE Update – April 2023
Our monthly market intelligence report on renewables covers the following content: - Tenders: In March 2023, 20 new renewable energy (RE) tenders with a cumulative capacity of 4809 MW were issued.
- NTPC issued a tender for a 9000 MWh Energy Storage System with 1500 MW (min) capacity.
- MSEDCL floated solar tenders with a total capacity of 703 MW under Mukhyamantri Saur Krishi Vahini Yojna (MSKVY) in Maharashtra.
- UHBVN issued a 500 MW solar tender in Haryana.
- Auction Completed: About 4950 MW of RE tenders were auctioned and allotted in April 2023. The tenders include four vanilla solar tenders, one wind solar hybrid (with energy storage) and one (Round-the-clock) RTC tender.
- Installed Capacity: In Financial Year 2023 (FY), i.e., from April 2022 to March 2023, approximately 12,784 MW solar capacity and 2,276 MW of wind capacity was added in India. While in March 2023, a combined total of 3018 MW of solar and wind capacity was added, taking the cumulative RE capacity to 125.1 GW.
- Project Commissioned: JSW commissioned 51 MW wind power project under SECI's 1200 MW Tranche X wind tender in Tamil Nadu.
- Key deals/ financing trends: In April 2023, about $3375 million was invested in the RE sector in India.
- IEX – PXIL GTAM Trend: The IEX traded a total of 60 MUs in GTAM in April 2023, which is 53% less than the volume traded in March 2023. The average trade price in IEX-GTAM for April 2023 was INR 6.1/kWh. This is about 7.9% higher than the previous month's price.
- Module price trends: In April 2023, domestic module prices continue to show a downward trend with a m-o-m decrease of around 1.1%.
- Policy and regulations: In this month, 13 central and 7 state-level policies/ notifications/ regulations/ orders were issued.
| | Monthly EV Update - April 2023
Our monthly report on electric vehicles (EV) update covers the following content: - Product Launches: 6 new electric vehicles were launched, including 3 E2Ws, 2 E3Ws, and 1 E-Car
- EV Sales Trends: The overall EV sales in April 2023 reached 1,10,503 units, registering a m-o-m decrease of ~21% and a y-o-y leap of 51%
- Policies and Regulations: At the central level, Govt released standard operating procedures under the PLI scheme for the automobile sector. At the state level, the Odisha government issued a notification regarding the amendment of the Odisha Electric Vehicle Policy, 2021.
- Charging Infrastructure and Battery Swapping: BSES discoms have facilitated the installation of around 2300 EV charging points in Delhi
- Key Manufacturing Updates: Log9 Materials has inaugurated India's first commercial Li-ion cell manufacturing unit at its campus in Jakkur, Bengaluru
- Other Market Updates: RACEnergy received AIS 156 Amendment III Phase 2 certification
- Deals & Investments: Investments of more than ~INR180 crore announced in the segment of EV charging
- JVs & Partnerships: 6 new announcements were made during the month
- Global Market Updates: Prominent EV-related developments captured
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