Renewables accounted for 64% of generation capacity addition in FY21: CEEW-CEF
Renewable energy (RE) dominated power generation capacity addition in FY21, accounting for 7.7 GW (64%) of the 12.1 GW added, according to the latest edition of the CEEW Centre for Energy Finance (CEEW-CEF) market handbook released on Wednesday.Coal capacity addition fell by a marginal 6% compared to the previous fiscal year. Rooftop solar contributed an impressive 1.8 GW of added capacity (till February 2021), powered by favourable policies in states like Gujarat. The total solar capacity added in FY21, including grid-scale projects, was 5.5 GW, an official statement said.The announcement of basic customs duties on solar cells and modules drove up auction tariffs by 11% in Q4 of FY21. Tariffs discovered in solar auctions held in Gujarat rose from a historic low of Rs 1.99|kWh in December 2020 to Rs 2.20|kWh in March 2021. A basic customs duty of 45% on solar modules and 20% on solar cells will take effect in April 2022.Gagan Sidhu, Director, CEEW-CEF, said, "India’s RE sector, particularly solar, has shown resilience in FY21 despite supply chain disruptions caused by the COVID-19 pandemic.
Renewables accounted for 64% of generation capacity addition in FY21: CEEW-CEF
Renewable energy (RE) dominated power generation capacity addition in FY21, accounting for 7.7 GW (64%) of the 12.1 GW added, according to the latest edition of the CEEW Centre for Energy Finance (CEEW-CEF) market handbook released on Wednesday.Coal capacity addition fell by a marginal 6% compared to the previous fiscal year. Rooftop solar contributed an impressive 1.8 GW of added capacity (till February 2021), powered by favourable policies in states like Gujarat. The total solar capacity added in FY21, including grid-scale projects, was 5.5 GW, an official statement said.The announcement of basic customs duties on solar cells and modules drove up auction tariffs by 11% in Q4 of FY21. Tariffs discovered in solar auctions held in Gujarat rose from a historic low of Rs 1.99|kWh in December 2020 to Rs 2.20|kWh in March 2021. A basic customs duty of 45% on solar modules and 20% on solar cells will take effect in April 2022.Gagan Sidhu, Director, CEEW-CEF, said, "India’s RE sector, particularly solar, has shown resilience in FY21 despite supply chain disruptions caused by the COVID-19 pandemic.