Monthly RE Update – November 2023 Our monthly market intelligence report on renewables covers the following content: - Tenders: In November 2023, 18 new renewable energy (RE) tenders with a cumulative capacity of 15,165 MW were issued.
- NTPC issued a tender for the supply of 3000 MW firm and dispatchable power (FDRE) from ISTS-Connected RE power projects (Tranche-II) anywhere in India.
- In addition, SECI floated an ISTS-connected RE (FDRE-V) tender of 1000 MW.
- SECI also issued a 1500 MW ISTS-connected solar tender and a 1350 MW ISTS-connected Wind (Tranche XVI) tender.
- Installed Capacity: From January to October 2023, about 8.7 GW of solar capacity and 2.36 GW of wind capacity were added in the country, taking the cumulative RE capacity to 132.13 GW. In October 2023, a combined total of 345 MW of solar and wind capacity was added.
- Auction Completed: In November 2023, about 4600 MW RE tenders were auctioned and allotted to various developers.
- Key deals/ financing trends: In November 2023, about $167 million was invested in the RE sector in India.
- IEX GTAM Trend: The IEX traded a total of 10.3 MUs in GTAM in November 2023, which is 1.29 times higher than the volume traded in October 2023. The average trade price in IEX-GTAM for November 2023 was INR 6.2/kWh. This is about 26% lesser than the previous month's price.
- Module price trends: In November 2023, domestic module prices decreased by around 4.7% on m-o-m basis.
- Policy and regulations: In this month, 16 central and state-level policies/ notifications/ regulations/ orders were issued.
| | Monthly EV Update - November 2023
Our monthly report on electric vehicles (EV) update covers the following content: - Product Launches: In November, 4 new electric scooters were launched.
- EV Sales Trends: Overall EV sales in November 2023 reached 1,52,514 units, showing a m-o-m increase of ~9% and a y-o-y rise of ~27%.
- Policies and Regulations: At the central level, the Ministry of Road Transport & Highways (MoRTH) issued the final notification, notifying the insertion of rule 125 M. type approval of Electric Powertrain Vehicles and Hybrid Electric Vehicles. At the state level, the Delhi government notified a motor vehicle aggregator and delivery service provider scheme, 2023.
- Tenders: CESL has invited bids to Procure 3,600 electric buses under the PM-eBus Sewa Initiative.
- Charging Infrastructure and Battery Swapping: Announcements have been made regarding the establishment of charging stations and battery swapping stations by both public and private sector players, including Bengaluru Metro Rail Corporation Limited (BMRCL), Tamil Nadu Generation and Distribution Corporation (TANGEDCO), Tata Power, Gogoro, Servotech, etc.
- Key Manufacturing Update: Tata AutoComp, an auto-component conglomerate, inaugurated its manufacturing facility for a Battery Energy Storage System (BESS) with a substantial capacity of 6 GWH.
- E-Bus Updates: Delhi has introduced 'The Delhi Motor Vehicles Licensing of Aggregator (Premium Buses) Scheme 2023' to streamline premium bus operations.
- Other Market Updates: Maruti Suzuki will be exporting INR 1,000 crore worth lithium-ion cells next year. EV tech MoEVing has deployed 100 units of the Tata Ace EV for last-mile logistics.
- Deals & Investments: Investments of more than INR 335 crore were announced this month.
- JVs & Partnerships: 12 new partnership announcements were made during the month.
- Global Market Updates: Prominent developments in the global EV market were captured.
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