In April to August this year, India added a total of 27 GW renewable energy capacity: Report

New -Delhi, September 25 (IANS). The campaign to establish renewable energy capacity in India is moving rapidly. According to a report on Thursday, a total of 27 GW renewable energy capacity was added in the first five months (April-August) of the current financial year. The HSBC report says that 20 GW renewable energy was established from this. According to the Central Electricity Authority (CEA), the capacity of Gigawatt at different stages is subject to construction. The report said that the establishment of renewable project, due to gradual progress in the commissioning of the transmission lines at the state level, is also expected. The recent merger and acquisition and possible list of renewable developers will provide more capital to pursue commissioning quickly. The report says: “Innovative tender lowers the cost of energy storage, which will increase the acceptance of renewable power.” According to the report, the cost of Solar Plus Energy Storage System has now dropped at a record level. Recently, the tariff in the Solar Plus-Opberg tender was 2.7-2.76 rupees/kilawatt per hour. According to the conditions, developers will have to provide power and storage for two hours, in addition to the son energy time and two hours in the morning peak. Although the tariff remains a concern about profitability, the development of infrastructure, a low risk of land acquisition and free electricity in the morning peak time can provide normal returns to developers. According to the report, India has auctioned more than 90 Gigawatts over the past two years and a large part of it has not been signed in the Power Purchase Agreement (PPA). This gives developers and investors uncertain about the value of these awards letters. India canceled renewable tenders of 11.4 GW, which had low participation or more rates. It can also cancel some old tenders. The report says that total electricity demand in the country will increase next month. According to the report, “electricity requirements are already higher this month than in September 2023. Weather forecasting, bitter cold probability and expected in industrial activities is expected to increase demand for power at the end of October or early November.” -Ians skt/