In April, India witnessed the rise in the generation of solar power despite the overall power demand was recorded to be lowest in the last thirteen years according to an analysis by Reuters of provisional government data.
As far as solar power generation is concerned, the country saw a record rise of 5.6 percent in overall generation of power with rise in generation in only solar powered electricity amount to 16.9 percent. The generation of gas-fired out of power rose by 13.7 percent. These data was revealed by POSOCO, a state run power operator.
On the other hand, coal generated electricity which is the primary source of electricity of the country fell by a record of 32.3 percent that amounts to 1.91 billion units of generation per day. The overall electricity generation of the country fell by 65.5 percent.
“Solar production was ramped up in the southern states, while gas-fired power plant operators in the west used cheap imported gas to address peak demand,” a senior power ministry official said, adding that many coal-fired utilities were being shut down for maintenance purposes.
India will, however, continue to be dependent upon coal powered generation as it the world’s second largest importer, producer and consumer of it. The government, in order to reduce the consumption of coal generated electricity has pledged that by 2030, clean energy installations will amount to 40 percent of the power used by the country which is currently at 22 percent.
According to the data released by POSOCO, the overall electricity consumption in the country fell by 24 percent with all the businesses and offices that have not been categorized “essential” being shut down to help prevent the spread of COVID-19.
The lockdown getting extended to a third phase with minimum relaxations to the business ecosystem of the country, Coal India Ltd. that is a state run business has the possibility of higher inventory but lowered sales. Many other essential utilities sectors are on the verge of facing further financial stress.
Moody’s unit ICRA, a ratings agency expects the annual demand for power to fall for the first time towards the year ended March 2021, while losses at state-run electricity distribution utilities (DISCOMs) are likely to rise to 500 billion rupees ($6.6 billion).
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