BMI View: India will be a global renewables outperformer over our 10-year forecast period, with non-hydro renewables capacity to more than triple from 2015 to 2025. Ongoing government support, strong investor interest and advantageous natural conditions will drive growth in the industry, particularly in the solar segment.
|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 July, Suzlon Energy won an order from an IPP for a 58.8MW wind power project in Madhya Pradesh. Suzlon will supply wind turbines, build, commission, operate, maintain and service the project for 12 years. The plant is expected to be commissioned by March 2017.
It was announced in June National Hydroelectric Power Corporation (NHPC) plans to build a 600MW solar power project at Koyna hydropower complex in Maharashtra. The company is reportedly reviewing the feasibility and financial viability study for the project. It plans to install floating solar panels with a pumped storage system.
In June, the Indian Ministry of New and Renewable Energy (MNRE) launched a scheme to set up 1GW of grid-linked wind power parks. The MNRE said the plan aims to help distribution companies in states with inadequate wind resources to meet their non-solar renewable purchase obligation requirements.
Vikram Solar plans to invest USD149mn to increase its annual manufacturing capacity of photovoltaic cells and panels to 500MW and 2,000MW, respectively. The company is in talks with the governments of the Indian states of Rajasthan, Andhra Pradesh and Haryana to build module factories there.
In June ABB commissioned five substations to integrate Adani Group's 648MW solar photovoltaic project at Kamuthi in Tamil Nadu to the national transmission grid. The complex consists of five solar plants at a single location.
Tata Power Renewable Energy signed an agreement to buy local firm Welspun Renewables Energy in June. The transaction values Welspun Renewables Energy at USD1.38bn. Once the acquisition is complete, Tata Power Renewable Energy will have 2.3GW of power generating assets in its portfolio.
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.