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India to achieve 76% of renewable energy target by 2022: Wood Mackenzie

Wood Mackenzie's solar analyst Rishab Shrestha said India faces a myriad of challenges in the renewables industry.

India may achieve about 76 per cent of the target of having 175 gigawatts of renewable power generation capacity by the scheduled date of 2022 as it faces myriad challenges, Wood Mackenzie said Monday. India is targeting 100 GW of solar capacity and 75 GW of wind power by 2022.

Indian solar panel

"Even with significant cost declines, Wood Mackenzie expects about 76 per cent of the target to be met by 2022 and this would still be a noteworthy achievement," the world's leading research and consultancy firm said in a report.

Wood Mackenzie's solar analyst Rishab Shrestha said India faces a myriad of challenges in the renewables industry.

"The recent cancellation of auctions risks jeopardising investor confidence. Various duties on equipment and the associated uncertainty has led to a short-term uptick in solar prices. This leads to the knock-on effect on already cash-strapped state distribution companies who are showing an unwillingness to green light high priced solar projects," he said.

Nonetheless, the government's commitment and support towards renewables remain strong.

The government has been swift and adaptable at responding to various industry hurdles and are helping reduce project risks. As a result, renewable prices continue to remain competitive. Wood Mackenzie said combined wind and solar capacity have almost doubled from 2014 levels to 61 GW this year.

"Driving this growth is the significant cost decline that auctions continue to deliver," Shrestha said. "In the next five years, capital costs are expected to decline by 23 per cent for wind and 31 per cent for solar. This trend will only continue as new generation technologies replace old ones."

Wood Mackenzie expected non-hydro renewables to make up 13 for per cent of power generation mix by 2023.

  India to achieve 76% of renewable energy target by 2022: Wood Mackenzie
By PTI | moneycontrol (15/10/2018)
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Wind energy in South Africa

Join Brenda Martin, CEO of South African Wind Energy Association, and Steve Sawyer, Senior Policy Advisor at Global Wind Energy Council, for our ‘Doing Business In … South Africa’ webcast on Tuesday 9 October at 15h CEST.

Wind energy in South Africa

South Africa’s competitive tender process (Renewable Energy Independent Power Producer Procurement Programme (REI4P)) was launched by the Department of Energy (DoE) to facilitate private sector investment into grid-connected renewable energy (RE) supply. Since 2011, Independent Power Producers (IPPs) have been invited to submit bids for onshore wind, solar PV, concentrated solar power (CSP), small hydro, biomass, biogas or landfill gas projects.

Between 2011 and 2015 four such rounds of competitive bidding, referred to as bid windows (BWs), have been completed. Bid tariffs have fallen sharply over the course of the programme and the most recently awarded projects are amongst the lowest priced grid-connected RE projects in the world.

To date, over 6 000 MW of renewable power has been procured from 112 independent power producers through 7 competitive bid rounds in South Africa. Wind makes up 52% of procured capacity, with a total investment value of R74.7 billion, and has established a track record as the best value for money utility-scale renewable power option.

Following a 2-year hiatus in private procurement, the REI4P has been resumed since April 2018, and the country’s new President has confirmed a renewed commitment to growing domestic investment. Given that the country is now behind on its renewable energy investment targets, SAWEA is lobbying for the next procurement bid round to be announced in 2019.

In conversation with Steve Sawyer, Brenda will discuss the current context, opportunities and challenges faced by companies wishing to set up and sustain their wind-related business in South Africa. Steve will provide an update on global markets.

  Wind energy in South Africa
By reve | Wind Energy and Electric Vehicle Review (01/09/2018)
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