Capacity utilisation to rise as power demand to hover between 6-7%
Ind-Ra (India Ratings and Research) said in a ratings statement that it expects capacity utilisation to rise as power demand is to remain around 6-7% for the rest of the fiscal year despite the general slowdown.
However, Ind-Ra said that the outlook on the sector will remain to be stable to negative reflecting mounting receivables by DISCOMs due to inadequate improvements in operational parameters, uncertainty exhibited on honouring existing Power Purchase Agreements and continued dependence on imported coal.
Tamil Nadu unveils EV policy with concessions for consumers and manufacturers
Tamil Nadu has unveiled a new EV policy which offers total road tax exemption for electric two-wheelers, auto-rickshaws, cards and light-goods carriers until the end of December 2022.
On the supply side, Electric vehicle manufacturers, component supplies, battery manufacturers and manufacturers of charging infrastructure who invest over Rs. 50 crore and create at least 50 jobs are eligible for total SGST refund on their sales till the end of 2030. The state is offering a 15% capital subsidy on investments made in Tamil Nadu till the end of 2025 in cases where SGST refund is not applicable.
Global renewable energy capacity additions to grow by 12% this year: IEA
An International Energy Agency (IEA) release on Friday, said, “The IEA expects renewable capacity additions to grow by almost 12% this year, the fastest pace since 2015, to almost 200GW, mostly thanks to Solar PV and wind. Global Solar PV additions are expected to increase by over 17%”.
The IEA expects faster expansion in the EU, new installation boom in Vietnam and faster growth in India and the US to offset the slowdown in the Chinese Solar PV market, primarily caused by policy changes.
“This highlights the critical role of governments for the deployment of renewables and the need to avoid sudden policy changes that can result in strong market volatility,” IEA further added.