Monthly RE Update – September 2023
Our monthly market intelligence report on renewables covers the following content: - Tenders: In September 2023, 17 new renewable energy (RE) tenders with a cumulative capacity of 10,495 MW were issued.
- SJVN issued a 1500MW solar-wind hybrid tender
- NTPC issued a 1500MW wind ISTS project tender
- SECI issued a 1260MW with Energy Storage System
- PFC consulting issues 1260MW solar ISTS tender
- Installed Capacity: From January to August 2023, about 8.3 GW solar capacity and 2.2 GW wind capacity was added in the country, taking the cumulative RE capacity to 131.5 GW. In August 2023, a combined total of 615 MW of solar and wind capacity was added.
- Key deals/ financing trends: In September 2023, about $366 million was invested in the RE sector in India. The key investments during the month were:
- Key deals/ financing trends: In September 2023, about $366 million was invested in the RE sector in India. The key investments during the month were:
- Juniper Green secured $350 million investment by AT Capital Group and Vitol. The investment will be utilized to reach the company's target to triple its operational capacity to 2.5 GW by 2026.
- Gensol Engineering acquired 54.4% stake in Scorpius Trackers, a single solar tracker company.
- IEX GTAM Trend: The IEX traded a total of 89 MUs in GTAM in September 2023, which is 12.3% higher than the volume traded in August 2023. The average trade price in IEX-GTAM for September 2023 was INR 6.47/kWh. This is about 6.5% less than the previous month's price.
- Module price trends: In September 2023, domestic module prices decreased by around 1.36% on m-o-m basis.
- Policy and regulations: In this month, 11 central and 9 state-level policies/ notifications/ regulations/ orders were issued.
| | Monthly EV Update - September 2023
Our monthly report on electric vehicles (EV) update covers the following content: - Product Launches: 9 new electric vehicles, including 6 E-Scooters, 1 cargo E3W, and 2 E-Cars, were launched during the month
- EV Sales Trends: The overall EV sales in 2023 reached 1,27,735 units, registering a m-o-m increase of ~1% and a y-o-y rise of 36%
- Policies and Regulations: At the central level, the Government of India considering a fresh infusion of INR 1500–2000 crore in FAME 2 subsidies for two-wheelers. At the state level, the Delhi government has doubled its targets for various transport initiatives. This includes the registration of electric vehicles under the EV Policy and the establishment of public charging points, as mentioned in an Outcome Budget document
- Tenders: Delhi Government has issued a tender for Selection of Service Provider for Deploying High speed & low speed e-scooters and E-cycles for Last Mile connectivity services
- Charging Infrastructure and Battery Swapping: Announcements have been made by both public and private sector players, including New Delhi Municipal Council (NDMC), Tata Power, Petromin Corporation KSA, and Hindustan Petroleum Corporation Limited (HPCL) regarding the establishment of charging stations and battery swapping stations
- Key Manufacturing Update: Foxconn is exploring opportunities to manufacture electric vehicles in India, and Tamil Nadu is one of the states it is considering setting up a plant
- E-Bus Updates: The Uttar Pradesh state government is planning to introduce 1,850 electric buses in 19 cities as part of the PM-eBus Seva Scheme to reduce traffic congestion on roads
- Other Market Updates: Gensol Engineering Ltd has secured an INR 75 crore order to lease 500 electric cargo vehicles to a logistics firm
- Deals & Investments: Investments totalling over INR 2089 crore were announced this month in the e-mobility space
- JVs & Partnerships: 19 new announcements were made during the month
- Global Market Updates: Prominent EV-related developments captured
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