RENEWABLES

India needs $540 billion investment by 2029 to meet renewable targets

India needs USD 540 billion of investment between 2020 and 2029 to meet its ambitious targets for electricity generation from renewable sources, S&P Global Ratings said as it saw private-sector-led energy transition entering a new phase.

India is targeting to cut its emissions to net zero by 2070. In the transition to that, it is targeting 500 gigawatts (GW) of non-fossil electricity capacity, half of the energy from renewables, a reduction of emissions by one billion tonne and an emissions intensity of the GDP by 45 per cent by 2030.

“Private sector will lead generation capex while public sector utilities will likely lead grid investments,” it said. “Domestic long-term bank funding is available against projects and cash flows.” There is, however, limited appetite for unsecured holding company funding.

India is the world’s fourth biggest emitter of carbon dioxide after China, the US and the EU. But its emissions per capita are much lower than other major world economies. India emitted 1.9 tonnes of CO2 per head of population in 2019, compared to 15.5 tonne for the US and 12.5 tonne for Russia that year.

India’s renewable energy capacity reaches 168.96 GW till February 2023, says Minister R K Singh

India’s total installed renewable energy capacity touched 168.96 GW mark by February 2023- end, Parliament was informed. Out of the total 168.96 GW, 64.38 GW is solar power capacity, 51.79 GW hydro, 42.02 GW wind and 10.77 GW bio power, R K Singh, Union Minister for Power, New and Renewable Energy, said in RajyaSabha. Another 82.62 GW of green energy capacity is under implementation and 40.89 GW of capacity is under various stages of tendering, he said in a written reply to the upper House.

A total of 3,16,754.86 MU of electricity has been generated from renewable energy sources during the current year 2022-23 (up to January 2023), Singh said.

According to the minister, India’s total power generation capacity was at 412.21 GW as on February 28, 2023. The government’s aim is to achieve 500 GW of installed electricity capacity from non-fossil sources by 2030

Centre gives Rs 800 crore to oil companies for setting up over 7000 charging stations under FAME II

India's public sector undertaking oil companies will soon be setting up 7,432 electric vehicle (EV) charging stations with the support of aRs 800 crore subsidy transfer by the Ministry of Heavy Industries. According to official data, these new stations will supplement the existing 6,586 public EV charging stations in the country.

According to officials in the know, the subsidy will be offered for setting up of Combined Charging System (CCS) - II EV fast charger and not for CHArge de MOve (CHAdeMO). Developers are free to set up CHAdeMO fast chargers too but the subsidy will not be given for it.

The EV stations will deploy fast as well as slow chargers. To reduce the cost of setting up a charging stations supported by the scheme, the proposed number of guns has been halved for both fast and slow chargers eligible for being subsidised under the program. This subsi- dy grant from the government will help OMCs achieve their mission of setting up 22,000 EV charging stations across the country by 2024

Sunnier days help solar projects improve their performance this fiscal: Crisil

Longer sunnier days have ensured that the performance of solar power farms improved to 75 per cent in the current fiscal from 59 per cent in the year-ago period, according to a report. Rating agency Crisil has prepared the report based on the performance of 115 solar projects aggregating to 4.6 GW of power generation and those having an operational record of at least one full year.

As per the report, 75 per cent of these projects reached P90 level of generation in the current financial year which indicates generation that is likely to happen with 90 per cent confidence during the project's tenure annually. For example, a P90 value of 10,000 kWh for the annual output implies that it will generate over 10,000 kWh power for 90 per cent of the time.

The performance on the P90 metric is crucial as it is used widely to estimate the cash flow cushion available for debt servicing. Power generation that is 1 percentage point lower than P90 level reduces debt servicing cushion by 15 per cent and lowers return on equity by 1.5-2 percentage points.

According to the report, improvement in irradiation is weather-induced and remains crucial. A longer period of dwindling irradiation can reduce confidence in cash flows, and thus curtail interest from debt and equity investors alike

Parliamentary panel asks govt to adhere to strict timelines for rooftop solar projects

A Parliamentary panel has expressed concern over the fact that against the overall target of 40 GW, only 7.40 GW of rooftop solar projects have been installed in the country, and has asked the government to adhere to strict timelines while approving applications for such projects.

The Parliamentary Standing Committee on Energy, in its report on demands for grants for 2023-24 for the Ministry of New and Renewable Energy, which was tabled in Parliament recommended that a strict timeline should be imposed for approval or rejection of applications and installation of net-meter as well as inspection of the system by distribution companies.

Also the distribution companies should mandatorily provide reasons behind rejection of applications on the national portal, the panel said.

It also suggested that distribution companies may be incentivised so that their apprehensions regarding losing their high-paying consumers because of installation of solar roof-tops are addressed and they positively participate in the programme

NHPC gets Cabinet approval for Rs 1600-crore investment in India’s largest hydro project

NHPC Ltd said the Cabinet Committee on Economic Affairs has approved an investment of Rs 1,600 crores for “pre-investment activities” for its 2,880 MW Dibang multipurpose project in Arunachal Pradesh. Touted to be India's largest hydro project, and equipped with storage, its cost is estimated to be Rs. 31,876.39 crores.

The completion period for the project is nine years from the receipt of government approval, the government-owned company said in a filing to the stock exchanges.

The project, located in the Lower Dibang Valley district, will generate 11,223 million units of energy per year. The dam will be 278 metres high concrete gravity dam and will be the highest in India. Once the project is completed, the state will get 12% free power from the plant which would come to around 1348 million units per year. The country is planning another big hydro power project of 11,000 MW capacity on the strategically important Siang River in the state. The government plans to achieve 500 GW of installed electricity capacity from non-fossil fuel sources by 2030. Hydro power plants will play an important role in achieving the targe.

SJVN signs EPC contract agreement for 382 MW Sunni Dam Hydro Project

Clean energy PSU SJVN Limited has said that it has signed contract agreement for engineering, procurement & construction of civil & hydromechanical works of 382 MW Sunni Dam Hydro Electric Project. The contract agreement for Rs 1098 crores has been signed with Rithwik Projects Private Limited, Hyderabad.

382 MW Sunni Dam Project is a run-of-the-river project situated in District Shimla and Mandi of Himachal Pradesh on river Satluj. Project will generate 1382 million units annually at the levelized tariff of Rs. 3.90 per unit and will contribute 1.1 million tons annually towards carbon emission reduction.

On commissioning, 13 percent of the electricity generated will be provided free of cost to Government of Himachal Pradesh including 1 percent for Local Area Development Fund. For the project life cycle of 40 years, this free power translates into benefits of Rs 2,803 crores to Himachal Pradesh.

For the first time, India will have windmills in sea soon; massive 13MW mills planned

India will soon get to see windmills generating power from the sea as the Centre has floated tenders to set up offshore windmills along the coasts of Tamil Nadu and Gujarat. The Ministry of New and Renewable Energy has floated tenders for offshore wind power at Dhanushkodi in Tamil Nadu and in three coastal zones in Gujarat. The three zones are Saurashtra, South Gujarat and Gulf of Khambhat coastlines.

The ministry has called for bids for 4000 MW (mega-watt). Unlike onshore wind power mills where the capacity is less than 1MW, offshore wind power mills will have a minimum capacity of 13MW.

The developer shall set up the offshore wind projects, including the offshore pooling station at the voltage level of 220kV (kilovolt). Metering for the purpose of energy accounting shall be done at respective onshore pooling stations, said the ministry.

The minimum capacity for acceptance of first part commissioning shall be 100 MW or 50% of the allocated project capacity, whichever is lower. Projects with capacity more than 500 MW can be commissioned in parts of at least 200 MW each, with the last part being the balance capacity.

Biomass market in India expected to reach rs 32,000 cr by fy31: report

Biomass market in India is expected to reach Rs 32,000 crore by FY2030-31 piggybacking on government schemes as well as investments from global green energy companies, according to a report.

The Indian biomass market is attracting investments from global green energy companies. There is a growing demand for the supply of clean and reliable power to businesses in India and biomass as a source of energy is expected to play a crucial role in meeting the power demand, the report explained.

The current availability of biomass in India is estimated at about 750 MMT per annum and surplus biomass availability at about 230 MMT per annum. The installed capacity for biomass production in India has grown at a CAGR of 4 per cent reaching 10 GW in FY22.

Government initiatives such as biomass power & cogeneration programme along with the revised policy for biomass utilisation have promoted technologies for the optimum use of the country’s biomass resources.

Govt committed to biomass cofiring policy as it curbs pollution, generates income: MoS Power

The government is committed to biomass cofiring policy as the use of biomass pellets aimed at reducing pollution and better earnings for farmers and pellet manufacturers, Minister of State for Power Krishan Pal Gurjar said.

The minister said that the government was making serious efforts to promote the biomass pellet manufacturing sector. Power Secretary Alok Kumar lauded the great work done by the National Mission on Use of Biomass in Thermal Power Plants (SAMARTH).

He urged the state regulatory bodies, state generation companies and IPPs (independent power producers) to promote the use of Biomass Pellets, saying that despite multiple advantages, there was an inertia on part of these bodies to push for greater use of biomass pellets.

The conversion of biomass agro residue into pellets and co-firing them in thermal power plants is expected to not only save the environment from the harmful effects of stubble burning but also contribute towards the reduction of the country’s dependence on imported coal in electricity generation and increase the earning potential of farmers.