India's Renewable Energy Sector Registers Lowest Growth in 4 Years: CEA

According to fresh data sourced from the Central Electricity Authority (CEA), India’s renewable energy generation grew at a dismal pace of 5.22 per cent in the first eight months of the current financial year (April-November 2019), the lowest rate of growth in the past four years since 2015-16.

The combined generation from solar, wind, small hydro and biomass and bagasse based power plants stood at 93.69 billion units (BUs) in the April-November period, the CEA’s monthly Executive Summary report for November 2019 showed. This is against 89.04 BUs of green energy generation recorded in the same period last fiscal.

Data showed wind energy generation – which alone accounts for around 70 per cent of the country’s total RE output -- declined by a marginal 0.9 per cent to 47.72 BUs in the April-October 2019 period as against 48.16 BUs generated in the same period last fiscal. The Executive Summary report for November provides resource-wise breakup only till October.

In a report released in December ratings agency ICRA revised the outlook for the renewable energy sector from stable to negative. It argued the sector is facing headwinds because of delays in payments from state discoms and ongoing execution delays due to challenges in land acquisition, availability of evacuation infrastructure and financing. Also, combined renewable energy generation grew 0.23 per cent to 7.92 BU in the month of November 2019, as compared to 7.90 BU generated in the corresponding month a year ago, data showed.

Policies & Regulations | News published on 17/01/2020 by Darshana Daga

 
 
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