Tag: auctions

An Action Year: Indian renewables take big strides despite geopolitical challenges

At COP26 held in Glasgow in Nove­mber 2021, India had announced am­bitious goals to increase its non-fossil fuel capacity to 500 GW and meet 50 per cent of its energy needs from re­new­able energy sources by 2030. A year later, it has accomplished about 172 GW of non-fossil fuel capacity, clearly showing that the country is moving rapidly towards its Glas­gow goals. Meanwhile, renewable energy capacity has reached close to 120 GW as of October 2022 and contributed 13 per cent of the country’s total energy generation between April and October 2022.

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Renewable Energy Auctions in Southeast Asia: Report

Renewable energy auctions have become a popular instrument for the deployment of renewables around the world, and Southeast Asia is no exception. Within the region, however, countries have different contexts and starting points, and auction design elements and outcomes have varied greatly. Experience in Southeast Asia shows that the success of auctions greatly depends on clear, transparent and accessible information regarding auction documentation and bidding procedures.

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New wind and solar power gets cheaper than coal in Turkey

Rising coal prices in the world now make it cheaper to build a new wind or solar park for power generation in Turkey than running even the most efficient hard coal power plant that relies on coal imports. In Turkey, new wind power installation costs are 32% lower than five years ago, and new solar power installation costs are 50% lower. International hard coal prices are 3 times higher than a year ago.

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Non-Hydro Renewables Set to Outperform In Brazil’s Power Sector

Brazil’s non-hydro renewables sector remains in a prime position for significant wind and solar power growth from projects being developed through private power purchase agreement (PPA) deals as well as through power auctions. For example, in August 2021, Brazilian meatpacker BRF signed a 15-year PPA for the development of a 160MW wind power farm with developer AES Brasil Energia. Additionally, the Brazilian government awarded 873MW in non-hydropower renewables capacity through the country’s A-3 and A-4 power auctions that concluded in July 2021.

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