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Renewable power growth is saving India from a sequence of large blackouts

India’s energy grid has been extra resilient in latest weeks than on the identical time final yr when a coal scarcity led to widespread blackouts. A part of the rationale for the elevated resilience has been a rise in renewable capability that has eased the stress on coal-fired turbines, which nonetheless present about 70% of India’s electrical energy.

It’s India not rejecting coal quickly – will proceed to depend on the dirtiest fossil gasoline for many years, at the least till 2040, Coal and Mines Minister Pralhad Joshi introduced earlier this month.

Nevertheless, India continues to make progress in ramping up renewable power era capability, which has helped it keep away from a grid overload in October 2022 in comparison with October 2021.

India this month reiterated its purpose to generate half of its electrical energy from renewable power sources by 2030, whereas the nation’s largest non-public firms are additionally betting on renewables with the goal of changing into a world powerhouse in clear power.

India’s photo voltaic and wind era capability rose to 119 gigawatts (GW) final month, up from 103 GW in October 2021. Estimates Reuters senior market analyst John Kemp based mostly on information from Grid India.

Mixed photo voltaic, wind and hydro energy met 25.4% of India’s electrical energy demand final month, in comparison with 22.8% in October final yr.

Earlier this yr, a warmth wave in April and Could led to electrical energy shortages and hours-long energy outages in some Indian states and main cities, affecting trade and shutting faculties.

Nevertheless, after the monsoon season resulted in September, provide proved extra resilient than final yr, whereas electrical energy demand remained kind of the identical as in October 2021.

In November of this yr, Indian Prime Minister Narendra Modi stated on the G20 summit in Bali that “India is dedicated to wash power and atmosphere. By 2030, half of our electrical energy might be produced from renewable sources. “Time-bound and inexpensive financing and sustainable provide of expertise to growing nations are important for an inclusive power transition,” Modi added.

Within the 2021/2022 monetary yr ending March 2022, renewable power investments in India reached a file $14.5 billion, up 125% in comparison with FY 2020-21 and 72% increased than in fiscal yr 2019-2020. and Monetary Evaluation (IEEFA) stated in a the report earlier this yr. In 2021/2022, a complete of 15.5 GW of renewable power was put in in India, recovering from a decline in 2020.

“The rise in funding in renewables is coming from a resurgence in electrical energy demand from the COVID-19 lull and commitments by companies and monetary establishments to web zero emissions and divest from fossil fuels,” stated report writer Vibhuti Garg, an power economist. and Lead India, IEEFA.

Associated: Oil futures level to sluggish demand

Over the previous yr, Indian oil-telecom conglomerate Reliance Industries stated it could make investments as a lot as 76 billion {dollars} in inexperienced power tasks in India over the subsequent 15 years, Doc Billionaire Gautam Adani’s Adani Group plans to speculate 70 billion {dollars} by 2030 in its inexperienced power operations to turn out to be the biggest producer of renewable power on the earth.

This month, Reliance’s chairman Mukesh Ambani stated that India will turn out to be a renewable power powerhouse as clear power and digitization would drive development.

India’s put in renewable power capability, together with giant hydro, has grown from a number of megawatts in 2010 to about 163 GW in August 2022, IEEFA and Local weather Power Finance (CEF) stated in evaluation final month.

IEEFA and CEF count on India’s renewable power capability to develop quickly, with 35 GV – 40 GV of latest capability per yr by FY 2029/30, reaching 405 GV.

“IEEFA and CEF consider that whereas there may be some renewed momentum to broaden the usage of home thermal power, the long-term trajectory for renewable power stays intact,” the authors of the evaluation wrote.

Writer: Cvetana Paraskova for Oilprice.com

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