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CHENNAI: The renewable vitality sector reported a 19 per cent decline in new capability addition to the grid within the calendar 12 months 2023.
The entire new capability addition within the clear vitality sector stood at 12.9 GW in 2023 in comparison with a brand new capability addition of about 16 GW, the highest-ever annual capability added to the grid, in 2022.
Throughout January-December 2023, the photo voltaic section added about 10 GW of latest capability towards 14 GW of addition in 2022. The utility-scale photo voltaic section’s new capability addition was considerably decrease at 6.5 GW in comparison with 11.3 GW in 2022.
“The rationale behind this decline in utility-scale photo voltaic installations is because of below-par tender issuance exercise in the course of the interval from 2020 to 2022. In accordance with the current upsurge in tender exercise, it’s anticipated that utility-scale photo voltaic installations will enhance sooner or later,” based on JMK Analysis and Analytics.
The rooftop photo voltaic market added about 3 GW in 2023, which is considerably increased than 2022 installations of 1.9 GW. Within the off-grid/ distributed photo voltaic section, practically 500 MW was added, about 31 per cent lower than 2022 installations.
In 2023, which witnessed modifications within the regulatory regime to assist the business, the wind energy sector reported a rise in new capability addition at 2.8 GW in contrast with 1.85 GW in 2022.
This progress in wind installations can partly be attributed to the profitable decision of the lengthy pending SECI wind tenders in Gujarat (particularly tranche V-Vlll). Moreover, the rising reputation of hybrid tenders has additionally contributed to this rise in wind installations, it mentioned.
Gujarat topped in total capability addition at about 3.5 GW in 2023, Rajasthan added the very best capability within the photo voltaic section at 2.2 GW, adopted by Gujarat (1.3 GW) and Maharashtra (979 MW).
As of December 31, 2023, the cumulative grid-connected capability of renewable energy stood at 134 GW. Of the overall capability, the solar energy section accounted for 73 GW (together with 57 GW of ground-mounted capability, 11 GW of rooftop capability, 2.57 GW hybrid tasks, and a pair of.75 GW of off-grid), adopted by wind energy at about 45 GW, and biopower at about 11 GW. The small hydro section accounted for about 5 GW.
Among the many states, Rajasthan remained the Quantity One state in whole renewable capability with an put in capability of 24 GW, adopted by Gujarat (22 GW), Tamil Nadu (19 GW), Karnataka (18 GW) and Maharashtra (13 GW).
The put up Renewable Sector Information 19% Dip In New Capability Addition For 2023 first appeared on Newest India information, evaluation and studies on IPA Newspack.
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