Weekly Power Sector Round up: 29th January 2022

India’s renewable sector can employ 1mn people by 2030

India’s renewable sector has the potential to employ one million people by 2030, with most jobs being generated by small scale renewable energy projects, according to an independent study released by the Council on Energy, Environment and Water (CEEW), Natural Resources Defense Council (NRDC) and Skill Council for Green Jobs (SCGJ).

The CEEW-NRDC-SCGJ analysis also highlighted the adverse impact of the pandemic on employment in the renewable energy sector. In comparison to 12,400 new workers employed in the sector in FY19, only 5,200 new workers were employed in FY20 and 6400 were employed in FY21.

India has to add 18GW of hydro power capacity in 9 years to meet HPO norms: ICRA

India’s incremental hydro power generation capacity is estimated to be around 18GW by 2030, which corresponds to a 39% increase over the existing installed hydro base, based on the notified hydro purchase obligation (HPO) norms and trajectory.

Hydro capacity addition in India has remained sluggish with significant execution challenges as also seen in the incremental capacity addition of about 22GW between 2000 and 2021, corresponding to a mere 3% CAGR growth.

Hydro energy segment is systemically important from the grid perspective so as to meet the flexibility requirements or peaking power supply. The government has outlined policy measures over the last two-year period to promote the investments in hydro power through notification of HPO norms, long term trajectory for HPO as well as tariff rationalization measures.