The Mercom survey notes that the share of renewable energy is progressively increasing in the Indian electricity mix and that the additional investments in renewable projects up to 2022 (excluding transmission) will be about $80 billion at today's prices and an investment of around $250 billion will be required for the period 2023-2030. ON an annualized basis, a $30 billion investment in renewable energy is expected over the next decade.
According to the survey, the cumulative renewable power installed capacity (excluding hydro of above 25 MW) has more than doubled from 35 GW on March 31, 2014, to 78 GW on March 31, 2019. The target is to achieve an installed capacity of renewable-based power of 175 GW by the year 2022. The share of renewables (excluding hydro above 25 MW) in the total generation was around 10 pct in 2018-19 compared to about 6 pct in FY 2014-15, the survey notes. (Source: Mercom Capital Group, July, 2019) Contact: Mercom Capital Group, (512) 215-4452, firstname.lastname@example.org, www.mercomcapital.com
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According to the report, corporate funding in battery storage came from 34 investors, with the top dealan $80-million Series D financing round of behind-the-meter battery startup Stem Inc. Germany's Sonnen GmbH, raised $71 million in a financing round led by Shell Ventures. Massachusetts-based materials technology company Ionic Materials raised $65 million and Durapower raises $40 million while thermal energy storage provider Ice Energy also raised $40 million.
The number of battery storage-related M&A transactions in the six months was eight, only one of which was with a disclosed value. This compares to two such deals in the first half of 2017, according to the Mercon report. (Source: Mercom Capital Group
Contact: Mercom Capital Group, (512) 215-4452, email@example.com, www.mercomcapital.com
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