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10 April, 2020, 04:46 PM IST

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  • This could increase the leof the discoms, given that they would either delay payments to the generating companies (gencos) or resort to higher borrowings, it added.

    The large-scale solar projects saw a 7 per cent y-o-y fall while rooftop solar witnessed a 33 per cent drop y-o-y. Multiple reasons led to the fall in large-scale solar additions in 2019 including elections, a slowing economy, liquidity issues, tariff caps, lack of financing, curtailment, payment delays, and power purchase agreements renegotiations in Andhra Pradesh.

    The data collated by the firm shows falling coal is not yet the “new normal”, which means limiting climate change to 1.5 degrees is looking extremely difficult. The coal fall in 2019 relied on many one-off factors. Progress is being made on reducing coal generation, but nothing like with the urgency needed to limit climate change

    Extremely financially distressed discoms either privatise their operations or the states allow entry of suitably qualified and capitalised private distribution entities willing to invest. Increased competition would drive power generators, distributors and electricity supply companies to develop technologies to increase efficiency, lower costs and increase the reliability of supply.

    Renewable energy projects have attracted investments of about Rs 1.34 lakh crore between April 2017 and January 2020, Parliament was informed. India has set an ambitious target of having 175GW of clean energy by 2022 which includes 100GW of solar and 60GW of wind energy.

    Removal of the ceiling tariff has been a long standing demand of the industry. Developers maintain that tariffs are too low and it restricts them from participating as well as stymies the progress of renewable energy.

    In a statement the company stated, “With completion of the twin acquisitions, NTPC Group has added nearly 13% capacity in the current financial year that ends on March 31. At the end of March 2019, NTPC’s total capacity stood at 55,126 MW”. The company added that the overall hydro portfolio of NTPC Ltd has reached 3,425 MW.

    An estimated Rs 68,550 crore investment was made in the renewable energy sector in 2019, he said citing private data. While the investment in 2015 was at Rs 72,972 crore, it zoomed to Rs 1,00,982 crore in 2016, the data showed. The investment dropped to Rs 81,080 crore in 2017 and further to Rs 79,606 crore in 2018.

    EDF Renewables and the Sitac Group earlier announced they have secured a 25-year power purchase agreement for the wind farm through a competitive bidding process with the Solar Energy Corporation of India (SECI).

    The clean energy sector is one of the nation's most important economic drivers. But that growth is placed at risk by a range of COVID-19 related impacts.

    The suspension comes at a time when demand for renewable power has been growing in tandem with global efforts to combat climate change, and Vestas is currently facing its busiest period ever.

    Each state in India, in its unique way, is putting obstacles to the green energy space that was once considered a sunshine sector. Apart from Andhra’s infamous bid to renegotiate renewable contracts, govts in Telangana, Maharashtra and Tamil Nadu are also not letting green plants breathe easy, despite these projects enjoying 'must-run' status.

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