+
Non-hydro RE capacity addition grew by 61 per cent in Q1
POWER & RENEWABLE ENERGY

Non-hydro RE capacity addition grew by 61 per cent in Q1

New capacity addition of non-hydro renewable energy increased to 4.2 gigawatts (GW) during the first quarter of FY23 compared to 2.6 GW installed in the same period in FY22, according to a recent report by the CEEW Centre for Energy Finance. This was nearly a 61 per cent jump in new renewable energy (RE) capacity addition on a year-on-year basis.

“The sharp increase in capacity generation could be attributed to heightened investor interest in the sector and low base in the corresponding quarter when capacity installations took a hit due to the Covid-induced lockdowns,” the report said.

It added that overall, RE accounted for 98 per cent of the total 4.3 GW electricity generation capacity added during the quarter.

Within RE, solar energy dominated, representing 89 per cent of the total 4.2 GW of RE added. Wind energy capacity additions continued to lag at 430 MW.

In terms of capacity auctioned, a significant 48 per cent of the 3.15 GW of RE auctioned in the quarter comprised innovative procurement formats such as hybrid RE and floating solar.

“Continued low share of wind capacity addition is a matter of concern as India’s power sector transition cannot be based on solar alone,” said Gagan Sidhu, director, CEEW-CEF.

See also:
Tata Power Green commissions 225 MW hybrid power project for Mumbai
Inox Wind bags 200-MW order from NTPC subsidiary


New capacity addition of non-hydro renewable energy increased to 4.2 gigawatts (GW) during the first quarter of FY23 compared to 2.6 GW installed in the same period in FY22, according to a recent report by the CEEW Centre for Energy Finance. This was nearly a 61 per cent jump in new renewable energy (RE) capacity addition on a year-on-year basis. “The sharp increase in capacity generation could be attributed to heightened investor interest in the sector and low base in the corresponding quarter when capacity installations took a hit due to the Covid-induced lockdowns,” the report said. It added that overall, RE accounted for 98 per cent of the total 4.3 GW electricity generation capacity added during the quarter. Within RE, solar energy dominated, representing 89 per cent of the total 4.2 GW of RE added. Wind energy capacity additions continued to lag at 430 MW. In terms of capacity auctioned, a significant 48 per cent of the 3.15 GW of RE auctioned in the quarter comprised innovative procurement formats such as hybrid RE and floating solar. “Continued low share of wind capacity addition is a matter of concern as India’s power sector transition cannot be based on solar alone,” said Gagan Sidhu, director, CEEW-CEF. See also: Tata Power Green commissions 225 MW hybrid power project for MumbaiInox Wind bags 200-MW order from NTPC subsidiary

Next Story
Technology

Minda, Qualcomm Join Forces for Smart Auto Cockpit Tech

Minda Corporation Limited, the flagship of the Spark Minda Group, has announced a strategic partnership with Qualcomm Technologies, Inc. to develop intelligent and connected cockpit solutions for the Indian automotive market. The upcoming smart interface will be powered by Qualcomm’s Snapdragon Cockpit Platform.Commenting on the collaboration, Suresh D, Group CTO of Minda Corporation, said, “This partnership with Qualcomm Technologies marks a major milestone in advancing Minda’s digital cockpit capabilities. By utilising Qualcomm’s cutting-edge automotive platforms, we can now offer se..

Next Story
Infrastructure Transport

Railways Spent Rs 604.7 Billion on Passenger Subsidy in FY24

New Delhi – The Indian Railways provisionally spent Rs 604.7 billion in subsidies during the financial year 2023–24, covering 45 per cent of passenger travel costs, Railway Minister Ashwini Vaishnaw informed the Lok Sabha on Wednesday.In a written response to questions from multiple Members of Parliament regarding the recent rail fare hike, Vaishnaw stated that the Indian Railways continues to offer one of the most affordable transport services globally, ferrying over 7.2 billion passengers annually."The total amount of subsidy provided in FY 2023–24 on passenger travel is provisionally ..

Next Story
Infrastructure Urban

Auto Sector Can Cut Emissions by 87% by 2050: CEEW

India’s automobile industry could reduce its manufacturing emissions by 87 per cent by 2050 through a shift to green electricity and low-carbon steel, according to a study released by the Council on Energy, Environment and Water (CEEW).The report estimates that if original equipment manufacturers (OEMs) and their suppliers target net-zero emissions by 2050, annual emissions could fall from a projected 64 million tonnes of CO₂ (under the business-as-usual scenario) to just 9 million tonnes. This would require OEMs to adopt 100 per cent green electricity and steel suppliers to source 56 per ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?