Monthly RE Update – June 2023
Our monthly market intelligence report on renewables covers the following content: - Tenders: In May 2023, 18 new renewable energy (RE) tenders with a cumulative capacity of 22134 MW were issued.
- RUMSL issued 16.4 GW of Pumped Storage tender in Madhya Pradesh. A total of 14 sites are on offer to build PHS capacities varying from 600 MW to 2 GW.
- Auction Completed: About 2000 MW of RE tenders were auctioned in June 2023,. out of which about 1490 MW was allotted.
- Installed Capacity: In May 2023, a combined total of 1074 MW of solar and wind capacity was added, taking the cumulative RE capacity to 126.7 GW.
- Project Commissioned: TATA Power Renewable Energy Ltd commissioned a 225 MW solar Project in Rajasthan.
- Key deals/ financing trends: In June 2023, about $2.25 billion was invested in the RE sector in India.
- IEX GTAM Trend: The IEX traded a total of 66.69 MUs in GTAM in June 2023, which is 28.72% lower than the volume traded in May 2023. The average trade price in IEX-GTAM for June 2023 was INR 5.79/kWh. This is about 13.52% higher than the previous month's price.
- Module price trends: In June 2023, domestic module prices continue to show a downward trend with an m-o-m decrease of around 2%.
- Policy and regulations: In this month, 31 central and 17 state-level policies/ notifications/ regulations/ orders were issued.
| | Monthly EV Update - June 2023
Our monthly report on electric vehicles (EV) update covers the following content: - Product Launches: 3 new electric three-wheelers were launched during the month
- EV Sales Trends: The overall EV sales in 2023 reached 1,01,832 units, registering a m-o-m decrease of ~35%
- Policies and Regulations: At the central level, Government of India has kickstarted the process to select companies for subsidising up to 20 gigawatt-hour (GWh) of battery-cell making capacity as part of the PLI scheme for advanced chemistry cells (ACC). At the state level, Tamil Nadu amends policy to enable registration of E-Auto-Rickshaws, E-Taxis.
- Charging Infrastructure and Battery Swapping: Announcement of setting up of charging stations and battery swapping stations by public and private players like MESCOM (Mangalore Electricity Supply Company), NDMC (New Delhi Municipal Council), as well as GO EC Autotech, Battery Smart etc
- Key Manufacturing Updates: Gogoro will set up EV and battery manufacturing facilities in Pune and Aurangabad in Maharashtra
- E-Bus Updates: The central government is planning to produce an electric bus tender to procure around 3,500 new e-buses
- Other Market Updates: Tata Nexon EV has crossed the 50,000-unit sales mark and become the first electric passenger vehicle to cross the sales milestone
- Deals & Investments: Investments of more than ~INR400 crore announced this month
- JVs & Partnerships: 24 new announcements were made during the month
- Global Market Updates: Prominent EV-related developments captured
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