Weekly Power Sector Round up: 22nd May 2021

India’s utility scale solar installations decline 39% in FY 2021

About 3.5 GW of new utility scale solar capacity was added in India in FY 2021, 39% year on year decline. This, according to a report by JMK Research. The utility scale installations were led by Gujarat, Rajasthan, Tamil Nadu, Uttar Pradesh and Andhra Pradesh.

About 2 GW of new rooftop solar capacity was added despite the impact of COVID. Gujarat and Maharashtra contributed to nearly 50% of the newly added capacity.

9000cr+ worth of renewable energy certificates sold in India till date

The renewable energy certificate (REC) market has recorded net sales worth Rs 9,266 crore during its decade of existence, according to a study by the CEEW Centre of Energy Finance (CEEW-CEF).

RECs are market-based instruments that can help DISCOMs and others meet their renewable purchase obligations (RPOs) without actually buying renewable power. But, REC trading has been suspended since July 2020 due to an ongoing legal arbitration.

The study indicated that 99% of the RECs sold have been to fulfill RPO (Renewable Purchase Obligations) requirements.