BMI View: India has successfully overcome some of the most pressing challenges facing the expansion of its renewables industry, namely inefficient grid networks and inhibitive pre-procurement project risks. Overly aggressive bidding in the auction process and environmental policy slippage are two risks we highlight that have the potential to impede growth over the coming decade.
|e/ff = BMI estimate/forecast. Source: EIA, BMI|
|India||Generation, Non-Hydropower Renewables, TWh||52.008||61.851||78.456||89.753||102.492||114.974||128.124|
|India||Generation, Non-Hydropower Renewables, % y-o-y||15.617||18.928||26.847||14.399||14.192||12.179||11.437|
|India||Capacity, Non-Hydroelectric Renewables, MW||33,909.2||39,953.7||49,986.1||56,860.9||64,220.5||71,458.1||79,228.3|
|India||Capacity, Non-Hydroelectric Renewables, % y-o-y||13.6||17.8||25.1||13.8||12.9||11.3||10.9|
Latest Updates And Structural Trends
It was announced in November that Canada-based Brookfield Asset Management is in discussions to purchase Continuum Wind Energy's almost 400MW portfolio of operational wind farms in India. The deal reportedly entails an enterprise value of between INR17bn and INR20bn.
In November, Suzlon Energy partnered Ostro Energy to develop a 50MW solar project in the Indian state of Telangana. Suzlon has set up a special purpose vehicle to carry out the project. According to a contract signed by the two partners, Ostro will purchase a 49% stake in the SPV, while it also has an option to acquire the remaining 51% in future.
In October, Tata Power Renewable Energy signed a PPA with the So lar Energy Corporation of India for a 100MW solar project at Anantapuram in the Indian state of Andhra Pradesh.
The state of Madhya Pradesh announced its decentralised renewable energy support scheme in September - called 'Smile on Every Roof'. It aims to install 2.2GW of rooftop solar by 2022 by introducing a net-metering system and subsidy scheme.
In September, Coal India signed an agreement with Solar Energy Corporation of India to develop solar power plants totalling 600MW capacity in four Indian states. The agreement comes under the second phase of the company's plan to establish a total of 1,000MW green energy power plants.
The India Renewables Report researched at source contains BMI Research's assessment of the current renewables market in India. The report also contains historical data together with forecasts to end-2018 covering electricity generation (TWh) and electricity capacity (MW).
The renewables sectors covered in the report include Wind, Solar, Geothermal, Tidal and Wave, and Biomass (See Table of Contents for exact coverage). The report also features details on government green energy agendas and funding opportunities, as well as presenting a detailed list of key renewables projects currently being planned or undertaken in India, their capacity, the timeframe of construction and their current status.
The report discusses the various energy policies currently in force, including targets, subsidies and the relevant infrastructure developments or limitations which might impact on renewables growth, analysing the potential effects of regulatory changes in conjunction with the background macroeconomic outlook. Finally, there is a general overview of the competitive landscape in India, together with a detailed summary of the main utilities and manufacturers present and their business operations.
BMI's India Renewables Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with unique independent forecasts and competitive intelligence on the India renewables industry.
- Benchmark BMI's independent renewables industry forecasts for India to test other views - a key input for successful budgeting and planning in the renewables market.
- Target business opportunities and risks in the India renewables sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in the country.
BMI Industry View
Summary of BMI's key industry forecasts, views and trend analysis covering the renewables market in India, regulatory changes, major investments and projects and significant multinational and national company developments.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the renewables sector and within the broader political, economic and business environment.
BMI Industry Forecasts
Historic data series (2010-2012) and forecasts to end-2018 for electricity generation (TWh) and electricity generating capacity (MW) for each individual renewables sector present in the country.
These in turn are broken down into:
Electricity Generation: Overall capacity (TWh), growth % change year-on-year, KWh per capita, % of Total Non-Hydropower renewables generation, % of total electricity generation.
Electricity Capacity: Overall capacity (MW), growth % change year-on-year, % of non-hydroelectric renewables capacity and % of total capacity.
These forecasts are in turn supported by explicit assumptions, in conjunction with analysis of the key risks to the main forecast.
Business Environment Rankings
BMI's Renewables Business Environment Rankings provide fully comparable Risk-Reward Rankings aimed at investors in the regional renewables market.
The rankings methodology makes sophisticated use of various industry, economic and demographic data point.