India to add 16 GW of renewable energy capacity in FY23: ICRA

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Submission Statement: India is expected to add an estimated 16 GW of renewable energy in FY23, according to rating agency ICRA. The article also shows the contribution of govt. through power purchase aggreements through Solar Energy Corporation Of India. Meanwhile, India’s renewable additon will be down 10% yoy, according to another firm, due to introduction of Basic Customs Duty.


India’s current demand is 707 billion KWh, growing at over 10% per annum. That is, it needs a new 70 bn KWh per annum. That is, around 8GW at 100% efficiency, that is, nearer to 12 GW at realistic capacity utilisation. So this is a squeak over a year’s growth.


That’s not a lot of power for a country the size of India.


Wonderful news! 16 watts per person. What a breakthrough 😺


They will need to add at least 1000 GW of new capacity in the near future if they want to industrialize. Annual growth rate of 16 GW is shit. I’m guessing coal will make up the difference.