Monthly RE Update – December 2022
Our monthly market intelligence report on renewables covers the following content: - Tenders: In December 2022, 17 new renewable energy (RE) tenders with a with a cumulative capacity of 6,587 MW were issued.
- Adani Energy issued a tender of 1500 MW (750 MW + additional 750 MW under Green Shoe Option) of Round-the-Clock (RTC) power from RE projects, complemented with firm power from any other source in India.
- REC Power Development Corporation Limited (RECPDCL) issued a tender for setting up of 1250 MW solar power projects in India. In addition, RECPDCL floated a 500 MW solar tender in India.
- Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL) issued a solar tender of 810 MW in Rajasthan.
- MSEDCL issued a total of 1600 MW RE tenders in Maharashtra this month.
- Installed Capacity: In the month of November 2022, 342 MW of solar and 51 MW of wind capacity was added, taking the cumulative RE capacity to 119.51 GW.
- Auction Completed: In December 2022, auction was completed for 2.74 GW of tenders', out of which about 2.12 GW capacity was allocated to various RE developers.
- Project Commissioned: NTPC commissioned 240 MW solar power project under SECI's 1500 MW CPSU II Tranche II solar tender in Rajasthan. In addition, NTPC commissioned 262 MW under SECI's 2000 MW CPSU Tranche I solar tender in Tamil Nadu and Rajasthan.
- Key deals/ financing trends: In November 2022, about $877 million was invested in the RE sector in India.
- IEX – PXIL GTAM Trend: The IEX and PXIL together traded a total of 206 MU in GTAM in December 2022, which is 34.6% higher than the volume traded in November 2022. The average trade price in IEX-GTAM for December 2022 was INR 5.74/kWh, while for PXIL it was INR 5.54/kWh. This is about 8% and 13% higher than the previous month's prices.
- Module price trends: In December 2022, domestic module prices shows an upward trend with a m-o-m increase of around 1.1%.
- Policy and regulations: In this month, 9 central and 11 state-level policies/ notifications/ regulations/ orders were issued.
| | Monthly EV Update - December 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: In December 2022, 4 new electric vehicles were launched including 1 E-motorbike by Revamp Moto; 2 electric three-wheelers (E3Ws) by Piaggio; and 1 electric car (E-Car) by Mercedes. 2 new E-Cars, 2 electric two-wheelers (E2Ws), and 1 cargo E3W are expected to be launched in early 2023.
- EV Sales Trends: The overall EV sales in December 2022 reached 1,02,212 units, registering a m-o-m fall of ~15% but a y-o-y leap of more than 100%. During CY 2022 (January 2022-December 2022), total EV sales reached ~10 lakh units.
- Policies and Regulations: At the state level, while Tamil Nadu's EV policy ended as it was slated for period of two years, Himachal Pradesh may soon announce its EV policy. In addition, Jammu & Kashmir has been asked by the Ministry of Home Affairs to promote Electric Vehicle Financing Scheme among Government employees. At the central level, Government to add more than 100 wayside amenities with charging stations on national highways and introduce draft battery swapping policy once the industry agrees on common battery standards.
- Charging Infrastructure and Battery Swapping: More than 50 chargers and 1,000+ charging zones to be installed in the coming months.
- Key Manufacturing Updates: Announcement of opening of new manufacturing facilities for EV components including EV wiring harness and magnets and E-cycle drives and E2Ws.
- Other Market Updates: Opening of new EV dealerships and experience centres by leading E2W and E-Car manufacturers and commencement of deliveries of Hero MotoCorp's Vida and Hop Electric's OXO E2Ws.
- Deals & Investments: Investments worth ~INR48 crore announced in the segments of EV and EV charging
- JVs & Partnerships: 13 new announcements during the month
- Global Market Updates: Prominent EV-related developments captured
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