BMI View: India will maintain its position as a key global renewables market, as ongoing support from the government drives growth. The solar sector will register the greatest expansion, with high installation rates across both residential and utility-scale projects. Risks are emerging, and continued high levels of investor interest in the market will be contingent on the timely realisation of the vast existing project pipeline.
|e/f = BMI estimate/forecast. Source: EIA, BMI|
|Generation, Non-Hydropower Renewables, TWh||52.008||61.851||78.456||89.753||102.492||114.974||128.124|
|Generation, Non-Hydropower Renewables, % y-o-y||15.617||18.928||26.847||14.399||14.192||12.179||11.437|
|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|
|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
In April 2016, the Gujarat state government has granted approval to India-based Adani Enterprises to begin work on a USD2bn solar equipment factory in the state - with capacity of 1.2GW. The facility will be built at a total cost of INR20bn and is expected to be commissioned later in 2016.
The New Development Bank, set up by BRICS member nations, approved loans worth a total of USD811mn for clean energy projects in Brazil, China, India and South Africa in April 2016. India's Canara Bank will receive USD250mn, of which USD75mn will be used to develop 500MW of renewable energy.
Canadian solar developer SkyPower Global awarded contracts to Indian firm Sterlin g and Wilson to develop 350MW of solar plants in India in May 2015. Under the contracts, the local firm will build three 50MW solar parks in Madhya Pradesh state and another four 50MW facilities in Telangana state.
It was announced in May 2016 that Mytrah Energy plan to develop new wind and solar power projects totalling 576MW with USD175mn secured from the Asian Development Bank (ADB). They are scheduled to be commissioned by April 2017.
The US Agency for International Development (USAID) has signed a MoU with the ADB to provide INR56.8bn funding for solar power and renewable energy transmission projects in India.
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.