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View: FAME III, tax rationalization, PLI tweak & more - What the Indian EV sector needs from Budget 2024-25
India, as per IBEF, is the world’s third-largest automobile market and supports the EV 30@30 Campaign. The Finance Minister, Smt. Nirmala Sitharaman, will table the Union Budget 2024-25 next month.
Renewable energy accounted for 71 per cent of India's new power generation in FY 24
India's total installed energy capacity has now reached 442 GW, with RE comprising approximately 33 per cent (144 GW) and hydro contributing 11 per cent (47 GW), according to the report by CEEW Centre for Energy Finance (CEEW-CEF).
Electric vehicle sales rise 148% to race past 1.18 million
EV retail sales hit a new monthly peak of 140,509 units in March, according to data on the government’s Vahan website. Fleet operators and individuals buying two- and three-wheelers are the main drivers of EV sales.
Electric vehicle sales to cross 2 million in FY24: Experts
EV fleet operators and individuals buying two- and three-wheelers have been the main drivers of this growth, with new launches and increased availability of charging points, along with low running costs, attracting buyers. Electric two- and three-wheelers accounted for maximum sales this fiscal at 690,000 units and 372,000 units, respectively.
India needs USD 7.2 bln investment to promote integrated solar module manufacturing: Report
To promote domestic solar manufacturing, the government has already announced multiple measures over FY 2021-22, including allocating USD 3.2 billion (Rs 24,000 crores) through the production-linked incentives scheme and levying a basic customs duty of 25 per cent and 40 per cent on all imports of solar cells and modules, respectively.
India adds 15.5 GW non-hydro renewable energy capacity in FY22: Report
"New renewable energy capacity addition doubled during FY22. New capacity addition of non-hydro renewable energy increased to 15.5 GW during FY22 compared to just 7.7 GW installed in the preceding fiscal year," it said.
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Mufin Finance acquires APM Finvest for Rs 76 crore, aims to create EV financing ecosystem
Citing a study by CEEW-Centre for Energy Finance (CEEW-CEF), it said the EV market in India is estimated to reach USD 206 billion by 2030 if the country maintains steady progress to meet its ambitious target of 100 per cent electrification by 2030.
Retail sales of passenger EVs, two-wheelers see huge jump
A greater number of EVs on road, the availability of newer models and an increase in the number of charging stations are expected to encourage buyers to shift to EVs.
Maharashtra, UP lead India’s drive towards electric future
“Twenty-seven states have moved forward in formulating their EV policies, and 18 states/ UTs have already notified their EV policy,” said Kant, whose Niti Aayog is working with states and UTs to develop their EV policies.
Renewable energy capacity addition rises 80% to 3.4 GW during December quarter
Compared to the preceding quarter (July-September), new non-hydro RE capacity additions fell 27 per cent on account of intensifying supply chain constraints.
Are FM's clean energy, EV announcements in line with India's climate commitments? Experts weigh in
"The FM also mentioned explicitly that climate risk is among the strongest negative externalities. So far this has been a strong acknowledgement and case for climate action. Devil lies in details and the industry will be hoping for more policy and investment details to see if the private sector is meant to take the lead in energy transition," Aarti Khosla, Director, Climate Trends said.
ReadyAssist lines up $8 million investment to set up EV stores
The new service aims to extend roadside emergency assistance to the EV segment along with strengthening EV charging/swapping infrastructure.
ReadyAssist plans to invest $8 million to set up EV stores
ReadyAssist already has thousands of mechanics upskilled on EV capabilities to service its road-side assistance (RSA) and annual maintenance contract (AMC) customers across India.
Renewable energy project acquisitions jump four-fold to $6 bn during Jan-Oct: Report
"Total value of acquisitions in India's renewable energy sector surged by more than 300 per cent to USD 6 billion in the first 10 months of 2021 (till October) from less than USD 1.5 billion reported in 2020," according to the report released on Wednesday by the CEEW Centre for Energy Finance (CEEW-CEF) and the International Energy Agency (IEA).
India needs $10.1 trillion investment to achieve net-zero emission by 2070: Study
"India would need cumulative investments of USD 10.1 trillion to achieve net-zero emissions by 2070, according to an independent study released today by the CEEW Centre for Energy Finance (CEEW-CEF)," a statement said.
As Foxconn, Tesla plan forays, here's a snapshot of India's EV market
India was the world's fifth-largest auto market in 2020, with about 3.49 million passenger and commercial vehicles sold, according to a report by India Brand Equity Foundation.
Electric vehicle sales more than triple in H1 of FY22
Experts attribute the surge to both demand- and supply-side factors. Outreach by manufacturers, improved charging infrastructure, price parity with conventional vehicles due to federal incentives and falling battery prices are driving sales.
Electric vehicles ride high in Motown amid chip blues
At a time when car buyers in the country have to wait for 2-8 months to get possession of their dream cars, many are turning to EVs from companies such as Tata Motors and MG Motors.
NBFCs set wheels in motion to fund Bharat's e-ride
Non-bank finance companies (NBFCs) dominate the vehicle financing space in semi-urban and rural India, and some of them like L&T Finance and Shriram City Union Finance have already tied up with the manufacturers to launch financing schemes for the buyers of electric two-wheelers.
India's renewable energy generation capacity crosses 100 gigawatts
The country stands fourth in the world in terms of installed renewable energy capacity, fifth in solar and fourth in wind in terms of installed capacity.
Decommissioning coal power plants older than 25 yrs can save Rs 37,000 crore: Study
According to a study released by CEEW on Monday, this move can provide much needed respite to public discoms, which last reported a loss of Rs 61,360 crore (USD 8.4 billion) in FY'19.
Decommissioning coal power plants older than 25 yrs can save Rs 37K cr: Study
A study by CEEW suggested that power distribution utilities or discoms in India could save up to Rs 9,000 crore (USD 1.23 billion) each year by prioritising coal power despatch based on efficiency rather than the prevailing system which prioritises based on variable costs.
India adds 12.1 GW power generation capacity in FY21; renewable space constitutes 64 pc: Report
The share of RE in the energy mix was 10.1 per cent, up from 9.4 per cent in FY20, the CEEW Centre for Energy Finance (CEEW-CEF) Market Handbook said. The CEEW-CEF Market Handbook provides independent market intelligence to investors, executives and policymakers every quarter on the energy sector.
Renewables accounted for 64% of generation capacity addition in FY21: CEEW-CEF
Coal capacity addition fell by a marginal 6% compared to the previous fiscal year. Rooftop solar contributed an impressive 1.8 GW of added capacity (till February 2021), powered by favourable policies in states like Gujarat. The total solar capacity added in FY21, including grid-scale projects, was 5.5 GW, an official statement said.
CEA, CEEW launch Renewable Dashboard for detailed operational info on RE projects in India
The dashboard, supported by the Shakti Sustainable Energy Foundation, captures daily generation data at the state, regional and national levels for the aggregate 93 gigawatts (GW) of installed RE capacity in India.
Clear, long term policies needed for EV sector growth: CEEW-CEF
"Electric mobility is poised to be at the forefront of India's green recovery. In the coming years, the central and state governments need to reduce uncertainty by rolling out detailed and clear long-term policies," CEEW CEO Arunabha Ghosh said in a statement.
Rs 12.5 lakh crore investment needed to realise India's 2030 EV targets: Study
Recently, the Centre announced plans to set up charging kiosks for electric vehicles at 69,000 petrol pumps across the country. It also permitted the sale and registration of electric vehicles without batteries. Singh said that such moves gave the sector a boost.
Renewables' share in energy mix falls marginally to 10.7 pc in Q2: Report
September quarter typically records the highest wind energy generation every year. "Renewable energy's share in the energy mix decreased marginally from 11.4 per cent in Q2 FY20 to 10.7 per cent in Q2 FY21," it said. The CEEW Centre for Energy Finance (CEEW-CEF) is an initiative of the Council on Energy, Environment and Water, one of Asia's leading think tanks.
India’s clean energy lures investors despite pandemic, slowdown - Report
Projects with a total capacity of 15.3 GW were sanctioned during the first half of the year, the study said. The collaboration between IEA and CEEW tracks the renewable energy sector at the project level, and takes a look at the financing trends as well.
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