The renewableenergy market in India continues to grow at a fast pace with the country commissioning 7.3 GW of solar power projects in the calendar year 2019, consolidating its position as the third-largest solar market in the world. According to a report by global clean energy communications and consulting firm Mercom, the rapid pace of growth of solar market has largely been brought about by large players with top 10 companies accounting for 68% market share in 2019.
India’s electricity demand during the current financial year is seen falling for the first time in at least 36 years, ratings agency Moody‘s unit ICRA said, a blow to utilities and state-run Coal India Ltd. ICRA expects annual electricity demand to fall 1% during the year ending March 2021 due to the impact of a nationwide lockdown to prevent the spread of the coronavirus, ICRA said.
A government task force firmed up a road map for capital investments of Rs 111 lakh crore in infrastructure over six years through FY25, pledging 71% of the expenditure for energy, roads, urban development and railways, and envisaging a key role for private investors.
COVID-19 is expected to cause global energy emissions to fall a record eight percent this year due to an unprecedented drop in demand for coal, oil and gas, the International Energy Agency said. The IEA‘s Global Energy Review was based on an analysis of electricity demand over more than 100 days, during which much of the world has entered lockdown in a bid to control the pandemic.
India’s crude steel production fell 23% to 7.38 million tonne (mt) in March as compared to the previous month, while export and import also took a beating due to the Covid-19, according to an official statement.
Amid headwinds faced by the renewable energy sector in FY20, Gujarat and Rajasthan managed to add more capacities than others, while Karnataka retained its Number One position in total installed capacity.
Gujarat’s total renewable capacity crossed the 10,000 MW mark in FY20, making it the third State after Karnataka and Tamil Nadu to have more than 10 GW of installed capacity, according to a Crisil Research report. It added the highest new capacity, of 1,934 MW, followed by Rajasthan, which added 1,911 MW, the report said.