IEEFA: Karnataka beats Tamil Nadu for top RE spot
New IEEFA report says Karnataka added 4GW of solar last year to overtake Tamil Nadu in installed RE capacity. Rising coal prices have increased the uptake of renewable energy in several states.
8 Indian states now have more installed renewables than coal-fired thermal power. Karnataka leads the group with 12.3GW of installed RE (including 5GW solar & 4.7GW wind), compared to 9.8GW of coal-fired power.
Investments in renewables top fossil fuels in India, drops globally
International Energy Agency says renewables investment in India topped fossil fuels for first timein 2017: a record $20bn. Whereas there was a 7% slump in global RE investments. In India, installed solar capacity rose to 7% of the country’s total power capacity.
However, experts criticized IEAs “bad data” on Sustainable Development Scenario (SDS), saying it exhausts Paris carbon budget by 2023. With China cancelling 20 GW, global renewables investment dropped 7%.
25% import tariff awaits, will Rs. 8,000cr solar plan boost domestic firms?
Will Rs 8,000 crore solar scheme be the answer to boost domestic firms without imposing 25% import duty? Designed to be WTO compliant, the scheme will allow Centre to procure power from domestic manufactures for its own use. Meanwhile, Centre is yet to take a call on implementing 25% duty on solar imports from China, Malaysia, US & Europe.
35 developers eye India’s first offshore wind project; ReNew IPO may be deferred
Government said 35 developers expressed interest in India’s first 1000 MW offshore wind project off the Gujarat coast of Pipavav port.
Meanwhile, ReNew Power IPO could be deferred. Investors showed lukewarm interest because of its high value and size. Experts said, “even the unicorn in the sector is not getting a good response.”
SB Energy (Japan’s SoftBank, Taiwan’s Foxconn and Bharti Airtel), top domestic firm ACME, and ReNew were the three largest winners at the 3000 MW SECI auction. The auction saw solar tariffs fall to a record low (Rs 2.44 per unit, ACME bid) for the third time. Other bids were higher (Rs 2.64-2.71 per unit).