Monthly RE Update – August 2022
Our monthly market intelligence report on renewables covers the following content: - Tenders – In August 2022, 18 new renewable energy (RE) tenders with a cumulative capacity of 3,151 MW were issued. MSEDCL issued a tender for procurement of 1000 MW solar power from projects to be developed in Maharashtra.
- Storage tenders floated this month were:
- GUVNL issued a tender for setting up of Pilot Projects of 500 MW/1000 MWh Standalone Battery Energy Storage Systems (BESS) in Gujarat under Phase-I.
- MSEDCL floated a tender for purchase of 250 MW power from grid connected renewable energy sources with Energy Storage facility on long term basis with green shoe option.
- Government of Haryana issued a 10.4 MW rooftop solar tender with/without battery bank (with Net Metering Facility) in Haryana.
- KREDL floated an EPC tender of 5 MW solar power plant with 5 MW /16 MWh BESS system at Pavagada Ultra Mega Solar Park in Karnataka.
- Auction Completed: SECI concluded the auction of 500 MW with 1000 MWh Standalone Battery Energy Storage Systems (BESS) tender under ESS-I in August 2022. Along with this, MSEDCL also announced the result for its 500 MW Phase VII Tranche III solar tender.
- Installed Capacity: From January 2022 to July 2022, India added a cumulative RE capacity of 9064.34 MW in the country. In the month of July 2022, 373.36 MW of solar and wind capacity was added.
- Key deals/ financing trends In August 2022, more than $3.7 billion was invested in the RE sector.
- IEX – PXIL GTAM Trend: The IEX and PXIL together traded a total of 171.9 MU in GTAM in August 2022, which is 11% lower than the volume traded in July 2022. The average trade price in IEX-GTAM for August 2022 was INR 5.39/kWh, while for PXIL it was INR 4.84/kWh. This is about 2.71% and 1.5% lower than the previous month's prices.
- Module price trends: Domestic module prices have shown an upward trend in August 2022 with a m-o-m increase of around 3%.
- Policy and regulations: In this month, 7 central and 14 state-level policies/ notifications/ regulations/ orders were issued.
| | Monthly EV Update - August 2022
Our monthly report on electric vehicles (EV) is a useful guide for automobile manufacturers, OEM suppliers, and investors to keep abreast of the latest updates in the sector. This monthly update covers the following content: - Product Launches: 10 new electric vehicles were launched, including 5 E-scooters, 1 E-bike, 2 E-cars, 1 E-cargo three-wheeler, and 1 new E-bus. 5 new E2W models, 4 E-cars to be launched by the end of the year while 5 new E-SUVs by Mahindra and 1 E-LCV by Ashok Leyland planned for release between 2023 and 2026.
- EV Sales Trends: The overall EV sales in August 2022 increased to 88,129 units, registering a m-o-m rise of 10.5%, but a y-o-y leap of more than 200%.
- Policies and Regulations: Several Central and State-level policy developments took place this month. At the state-level, Rajasthan and Ladakh have rolled out their electric vehicle policies. At the central level, the Ministry of Environment, Forest, and Climate Change has notified new battery waste management rules.
- Charging Infrastructure and Battery Swapping: Fresh updates on new charging infrastructure /battery swapping including setting up of fast charging facilities at 200 major highway corridors across the country by BPCL and plans by Tangedco to establish charging stations at 100 locations across highways.
- E-Bus and Other Market Updates: Announcement of flagging of E-buses by Delhi, Bengaluru, and Uttar Pradesh; plans of Maruti Suzuki to come up with a second battery plant; and launch of fire-resistant batteries.
- Deals & Investments: Investments worth ~INR 3,900 crore announced in the segments of EVs, batteries, and EV components.
- JVs & Partnerships: 11 new announcements during the month.
- Global Market Updates: Prominent EV-related developments captured.
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