Indian Wind Market Monitor H1 2020

Government allowing construction of renewable projects and MNRE providing a 30-day extension beyond the lockdown period for renewable projects - a way to counter the impacts of Covid-19 on wind capacity additions

Wind market faces a big hurdle in the form of Covid-19 pandemic in H1 2020 but MNRE has made its stance clear that during the outbreak of Covid-19 and nationwide lockdown, MNRE does not want to slash its target of achieving 175 gigawatt of renewable energy capacity in the country by 2022. The government has been backing the renewable industry by providing necessary approvals to project developers for starting construction work at there respective project sites and has also granted a 30-day extension beyond the lockdown period for renewable energy (RE) projects so that the project developers have not to bear any penalties due to project delays. The government has provided assurances to the players that the imports of raw material will resume soon and the logistics services will also function properly so that the developers face no equipment shortage. The government is trying to provide the best possible scenario to the renewable projects developers for completing the renewable projects. Government bodies like SECI & NTPC are conducting wind power auctions and attracting various wind market players in a bid to increase the wind installation in the country.

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Key Investments

• An budget outlay of INR 9.20 billion ($130 million) for wind power in India.
• The National Thermal Power Corporation (NTPC) has floated a tender for 600 MW of interstate transmission system (ISTS) connected wind energy projects in the country.
• GE Renewable Energy has secured contract from the EDF Renewables and SITAC Group joint venture to supply and install 300 MW wind turbines

Key Trends

• GERC has recently issued the tariff frameworks for the procurement of wind power by distribution licensees in the state by way of competitive bidding replacing the practice of generic tariffs.
• In a bid to motivate the project developers MNRE has granted a 30-day extension beyond the lockdown period for renewable energy (RE) projects so that the developers do not have to pay penalties for project delays
• The outbreak of COVID-19 shall have an impact on wind turbine installed capacity in India, likely to add only 2.4 - 2.5 GW of wind power capacity, hitting 35-45% of targeted capacity in 2020

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