Business Monitor International


India Renewables Report

Published 14 March 2014

  • 47 pages
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$1,295.00
India Renewables Report

BMI View: We have revised up our 2014 forecasts for non-hydropower renewable generation and capacity in India this quarter on the back of new data and continued government support for renewable energy. We note there are still a number of concentrated solar power (CSP) projects from the first phase of the Jawaharlal Nehru National Solar Mission which are behind schedule. This poses a risk to our 2014 forecasts. W e are maintaining our positive long-term outlook for the sector as thermal generation continues to face numerous difficulties, while government support for renewable energy remains strong.

We revised up our 2014 forecasts for non-hydropower renewable generation and capacity in India this quarter on the back of new data and continued government support for renewable energy. We now expect non-hydropower renewable capacity to grow by 13.8% in 2014, up from our previous forecast of 13.0%. Growth will be driven primarily by the country's mature wind sector, as well as the smaller but booming solar sector. We are maintaining our positive long-term outlook for the Indian non-hydropower renewables sector, and forecast capacity to grow at an average rate of 10.7% a year between 2014 and 2023.

Key Developments And Trends

  • On August 21 the Ministry of New and Renewable Energy (MNRE) announced it was planning to build a 4GW solar thermal (or CSP) power plant near Jaipur, the capital of Rajasthan.

  • The government revived the Generation Based Incentive scheme for wind energy in August 2013. The scheme will pay INR0.50/kWh for wind power, and payouts will stop once INR10mn (US$164,000) has been paid for each 1MW of capacity.

  • In April 2013 the MNRE issued a set of draft guidelines for participation in the second phase in April 2013. These appear relatively positive for solar energy developers. We expect a first tender of 750MW capacity to be opened under this phase later in 2013.

Table of Contents

BMI Industry View
7
SWOT
8
Industry Forecast
10
India Renewables Forecast Scenario
10
Table: Table: India's Total Electricity Generation, Historical Data And Forecasts, 2012-2017
10
Table: India's Total Electricity Generation, Long-Term Forecasts, 2018-2023
11
Table: Table: India's Electricity Generating Capacity, Historical Data And Forecasts, 2012-2017
13
Table: India's Electricity Generating Capacity, Long-Term Forecasts, 2018-2023
14
Table: FACT BOX: INSTALLED SOLAR CAPACITY BY STATE AT END-2013, MW
18
Table: Fact Box: JNNSM Targets
18
India Renewables Projects Database
22
Table: Renewables Projects - India
22
Industry Risk Reward Ratings
29
India Renewables Risk/Rewards Ratings
29
Rewards
29
Risks
30
Market Overview
31
Sustainable Energy Policy And Infrastructure
31
Targets (Renewables And Emissions)
31
Subsidies
32
Table: Renewable Feed-In Tariffs In India
34
Infrastructure
35
Competitive Landscape
37
Power Grid
37
Suzlon
38
National Thermal Power Corporation
38
National Hydro-Electric Power Corporation
39
Bharat Heavy Electricals (BHEL)
39
Glossary
40
Table: Glossary Of Terms
40
Methodology
41
Methodology And Sources
41
Industry Forecast Methodology
41
Sources
43
Risk/Reward Ratings Methodology
43
Table: Renewables Risk/Reward Rating Indicators
45
Table: Weighting Indicators
47

The India Renewables Report researched at source contains Business Monitor International (BMI)'s assessment of the current renewables market in India. The report also contains historical data together with forecasts to end-2017 covering electricity generation (TWh) and electricity capacity (MW).

The renewables sectors covered in the report include Wind, Solar, Geothermal, Tidal and Wave, and Biomass (See Table of Contents for exact coverage). The report also features details on government green energy agendas and funding opportunities, as well as presenting a detailed list of key renewables projects currently being planned or undertaken in India, their capacity, the timeframe of construction and their current status.

The report discusses the various energy policies currently in force, including targets, subsidies and the relevant infrastructure developments or limitations which might impact on renewables growth, analysing the potential effects of regulatory changes in conjunction with the background macroeconomic outlook. Finally, there is a general overview of the competitive landscape in India, together with a detailed summary of the main utilities and manufacturers present and their business operations.

BMI's India Renewables Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with unique independent forecasts and competitive intelligence on the India renewables industry.

Key Benefits

  • Benchmark BMI's independent renewables industry forecasts for India to test other views - a key input for successful budgeting and planning in the renewables market.
  • Target business opportunities and risks in the India renewables sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in the country.

Coverage

BMI Industry View

Summary of BMI's key industry forecasts, views and trend analysis covering the renewables market in India, regulatory changes, major investments and projects and significant multinational and national company developments.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the renewables sector and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series (2010-2012) and forecasts to end-2017 for electricity generation (TWh) and electricity generating capacity (MW) for each individual renewables sector present in the country.

These in turn are broken down into:

Electricity Generation: Overall capacity (TWh), growth % change year-on-year, KWh per capita, % of Total Non-Hydropower renewables generation, % of total electricity generation.

Electricity Capacity: Overall capacity (MW), growth % change year-on-year, % of non-hydroelectric renewables capacity and % of total capacity.

These forecasts are in turn supported by explicit assumptions, in conjunction with analysis of the key risks to the main forecast.

Business Environment Ratings

BMI's Renewables Business Environment Ratings provide fully comparable Risk-Reward Ratings aimed at investors in the regional renewables market.

The ratings methodology makes sophisticated use of various industry, economic and demographic data point.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc