Monthly RE Update – January 2024 Our monthly market intelligence report on renewables covers the following content: - Tenders: In January 2024, 12 new renewable energy (RE) tenders with a cumulative capacity of 7,532 MW were issued.
- SECI issued a 1500 MW ISTS-Connected solar tender (ISTS-XIV).
- MSEB Solar Agro Power Limited (MSAPL) floated solar tenders with a total capacity of 1,302 MW under Mukhyamantri Saur Krushi Vahini Yojana 2.0 in Maharashtra.
- GUVNL issued a solar tender of 1,125 MW capacity to be set up in GSECL's RE park at Khavda Gujarat.
- REMCL invited a tender of 695 MW of Round-the-clock (RTC) power from RE power projects.
- Installed Capacity: In Calendar Year (CY) i.e., from January to December 2023, about 10 GW solar capacity and 2.84 GW wind capacity was added in the country, taking the cumulative RE capacity to 133.9 GW.
- Project Commissioned: SunSource Energy commissioned the initial phase of its 75 MW open access solar project in Karnataka. CapitaLand India Trust (CLINT) has set up its first captive solar power plant of 21 MW in Tamil Nadu, India.
- Auction Completed: In January 2024, 5,850 MW of RE tenders were auctioned and 5,214 MW capacities were allotted to various RE developers. Additionally, auction was also concluded for SECI's green hydrogen and electrolyser tender under SIGHT scheme Tranche I this month.
- Key deals/ financing trends: In January 2024, a total of $384 million was raised in the RE sector India.
- IEX GTAM Trend: The IEX traded a total of 15 MUs in GTAM in January 2024, which is the same as the volume traded in December 2023. The average trade price in IEX-GTAM for January 2024 was INR 6.56/kWh. This is about 7.9% lesser than the previous month's price.
- Module price trends: In January 2024, domestic module prices decreased by around 3% on m-o-m basis. Furthermore, there is a YoY reduction of 29%.
- Policy and regulations: In this month, 12 central and 8 state-level policies/ notifications/ regulations/ orders were issued.
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