A massive $500-billion renewable energy investment is on the cards in India, according to the Institute of Energy Economics and Financial Analysis’ (IEEFA) energy outlook. In addition, the country will invest $250 billion in grid expansion and modernisation. IEEFA’s outlook references a statement made by Mr. Anand Kumar, Secretary of MNRE, that India is projected to need close to 850GW of electricity by 2030 if it grows annually at 6.5%.
TANGEDCO announces draft repowering policy for wind turbines, India may reach 54.7 GW wind capacity by 2022
Tamil Nadu’s power utility TANGEDCO announced a draft policy to repower some of the aging wind turbines in the state. Its wind turbines have capacities ranging from 200-600 kW and date back to 1986. These will now be replaced with new turbines that range from 750 kW to 2.1 MW. The upgrades are expected to significantly boost the state’s wind power output.
On the other hand, research firm Fitch Solutions has estimated that India will reach 54.7 GW of wind power capacity by 2022 – 90% of its 60 GW target. The key roadblocks identified for the shortfall are land acquisition issues, insufficient grid capacity to absorb additional wind power and the industry’s unsustainably low tariffs – which has negatively affected inflow of investments.
International Solar Alliance funding to be free from “foreign” tag
The India-France initiative, International Solar Alliance, for sunlight-rich countries, will no longer be classified as a foreign source of funding for NGOs in India, the government said as part of its efforts to achieve the goal of increasing the use of solar energy. The United Nations, Intergovernmental Panel on Climate Change, International Labour Organisation, and International Monetary Fund are among 109 organisations exempted by India from foreign funding licences. NGOs seeking foreign funding are required to obtain licences from the Union home ministry and are required to state the purpose of the funds being brought into the country.
BRI nations overwhelmingly want China to invest in renewables, not coal
A poll commissioned by E3G across six BRI nations has shown that 85% of the 6,000 respondents preferred renewable energy – and not coal, due to its record on air pollution – when it comes to China investing in their power capacities.
The poll was conducted across Indonesia, Pakistan, South Africa, Philippines, Vietnam and Turkey and highlighted the mounting unpopularity of China’s overseas investments in coal power – both due to its poorer economics and its role in driving air pollution. Around 90% of the poll’s respondents instead supported solar power, while coal lagged behind even nuclear power in order of preference.
India’s solar power capacity addition to grow 15% to 7,500 MW this fiscal
Credit rating agency ICRA said India’s solar capacity addition will grow by about 15% to 7,000-7,500 MW in the current financial year (2019-20). ICRA based its estimates on the tendering activity and awards of projects in the past 12-15 months. The last financial year’s solar capacity addition remained in a slow range of 6,000 MW and 6,500 MW because of the weak trend in awarding of solar projects in 2017.
Renewables hit record 77% of German power on Easter Monday
Good wind and sunshine helped Germany produce 77% of net public electricity supply, which is a new German record, on April 22, Easter Monday. Wind power provided 40% of total net power, solar 20%, and biomass 10%.
European bank increases renewable financing for Poland
The European Bank for Reconstruction and Development (EBRD) has decided to increase funding for Poland’s renewable energy this year, as the once coal-happy government of the ruling Law and Justice party (PiS) shifts toward green energy. Poland removed tax disincentives for wind farms and began auctions under a new subsidy system. EBRD may increase renewable financing in Poland to around 650 million euros from 560 million euros last year.
Delhi Metro aims to be first 100% solar-powered metro
The Delhi Metro Rail Corporation (DMRC) is aiming to be world’s first rail network to go 100% solar by 2021 and save Rs41 crore. Currently 60% of its operations run on solar energy. Most recently, it got 27MW of solar power from the Rewa solar farm in Madhya Pradesh.