Monthly RE Update – December 2023 Our monthly market intelligence report on renewables covers the following content: - Tenders: In December 2023, 10 new renewable energy (RE) tenders with a cumulative capacity of 5,785 MW were issued.
- SECI issued a 1500 MW ISTS-Connected solar tender (ISTS-XIII).
- NTPC floated two tenders of 1500 MW each, an ISTS-Connected solar tender and an ISTS-Connected Wind-Solar Hybrid tender (Tranche IV) across Pan India.
- UPNEDA issued a rooftop solar tender of 500 MW capacity in Uttar Pradesh.
- Installed Capacity: From January to November 2023, about 9 GW solar capacity and 2.7 GW wind capacity was added in the country, taking the cumulative RE capacity to 132.7 GW.
- Auction Completed: About 2750 MW of solar tenders and 1500 MW of wind-solar hybrid tenders were auctioned in December 2023.
- Project Commissioned: JSW Renew Energy has commissioned the first phase of 51 MW capacity of its 810 MW wind energy project in Tamil Nadu.
- Investment/Deal: Adani Green Energy raised an investment of $1.36 billion through debt in the solar energy sector from anchor investors including BNP Paribas, Cooperative Rabobank U.A., DBS Bank Ltd, Intesa Sanpaolo S.p.A, MUFG Bank Ltd., Societe Generale, Standard Chartered Bank and Sumitomo Mitsui Banking Corp.
- Key deals/ financing trends: In December 2023, a total of $1576 million was raised through debt and equity in the RE sector in India.
- IEX GTAM Trend: The IEX traded a total of 15 MUs in GTAM in December 2023, which is 46.6% higher than the volume traded in November 2023. The average trade price in IEX-GTAM for December 2023 was INR 6.08/kWh. This is about 1.9% less than the previous month's price.
- Module price trends: In December 2023, domestic module prices decreased by around 1.97% on m-o-m basis.
- Policy and regulations: In this month, 5 central and 12 state-level policies/ notifications/ regulations/ orders were issued.
| | Monthly EV Update - December 2023
Our monthly report on electric vehicles (EV) update covers the following content: - Product Launches: In December, 5 new electric scooters were launched.
- EV Sales Trends: Overall EV sales in December 2023 reached 1,40,839 units, showing a m-o-m decrease of ~7.66% and a y-o-y rise of ~38%.
- Policies and Regulations: At the central level, the Department-related Parliamentary Standing Committee on Industry has presented a report on the promotion of electric vehicles in the country. At the state level, the Bihar Government has approved the Bihar Electric Vehicle (EV) Policy-2023.
- 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 Maharashtra State Electricity Distribution Company Ltd (MSEDCL), Chandigarh Renewable Energy and Science and Technology Promotion Society (CREST), Tata Power, Indian Oil Corporation, etc.
- Key Manufacturing Update: ARENQ is investing INR 28 crore to set up new battery manufacturing plant in Pune to elevate its total production capacity to 200MW.
- E-Bus Updates: India aims to have 50,000 electric buses on its streets by 2027 with the help of a joint finance mechanism with the US.
- Other Market Updates: Ola Electric becomes the first Indian 2W EV company to receive PLI certification for automobiles and auto components. SIDBI grants INR 12.45 crores to deploy 300 Electric 3-wheelers in Delhi and Hyderabad.
- Deals & Investments: Investments of more than INR 500 crore were announced this month.
- JVs & Partnerships: 10 new partnership announcements were made during the month.
- Global Market Updates: Prominent developments in the global EV market were captured.
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