This was the first downtrend in many years, albeit on a high base generation had increased 19 per cent Y-o-Y to 163 billion units (BU) in August 2023. The dip was partly due to excess rainfall, which pared cooling demand and also reduced need for irrigation.
Coal-based generation declined 5 per cent Y-o-Y to 101 BU. Plant utilisation factor for coalthermal declined 464 bps in August 2024 to 63 per cent. Hydrogeneration declined 2 per cent Yo-Y to 24 BU with PLF (plant load factor) for hydro down 400bps to 59 per cent in August 2024. Renewable energy (RE) generation declined 9 per cent Yo-Y to 20 BU. Gas-based generation dropped 29 per cent YO-Y to 2.5 BU.
However, 4.3 GW of RE tenders were floated in August. This included solar tenders of 2.2 GW, Hybrid tenders of 1 GW, battery storage tenders of 600 MW and module supply tender of 500 MW. About 1,700 MW worth of tenders were awarded in August 2024.
This story is from the September 20, 2024 edition of Business Standard.
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This story is from the September 20, 2024 edition of Business Standard.
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FY25 as weak-earnings year is gradually getting priced in
Even as many blame record foreign portfolio outflows for the market downturn, the real culprit is weak earnings amid rich valuations, says GAUTAM CHHAOCHHARIA, head of global markets, India, UBS. In an interview with Samie Modak in Mumbai ahead of the UBS India Summit, Chhaochharia highlights that 2024-25 (FY25) weak earnings growth is now factoring into market expectations. Investors are shifting their focus to the actions of the Reserve Bank of India (RBI) and the central government, as well as the outcome of upcoming state elections. Edited excerpts:
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