October 13, 2020 Read More →

Indian wind-solar hybrid capacity expected to grow to 11.7GW by 2023

Taiyang News:

By the year 2023, India’s cumulative wind-solar hybrid (WSH) capacity is likely to grow to around 11.7 GW, according to a new research report released by the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research. This will be up from 148 MW WSH capacity commissioned to date in the country, representing almost 80 times growth over the next 3 years with cumulative reaching 2.26 GW in 2021, 4.29 GW in 2022 and 5 GW in 2023.

Between 2020 and 2023, the analysts forecast compound annual growth rate (CAGR) of 223% in terms of capacity addition which will mainly be due to strong support from Solar Energy Corporation of India (SECI) and other state governments. So far, SECI’s WSH tenders have had biggies as Adani Green Energy, SB Energy, Greenko and ReNew Power as key active participants.

SECI has issued a total of 12.86 GW of hybrid capacity tenders with and without storage out of which 4.29 GW has been auctioned. The lowest winning tariff determined for projects without storage in these auctions is INR 2.67 ($0.037) per kWh. 

[Anu Bhambhani]

More: Indian Cumulative Wind-Solar Hybrid Capacity To Grow Nearly 80 Times Over Next 3 Years To 11.7 GW, Claim IEEFA & JMK Research Analysts

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