Industry Recent Developments
As of March 24, the current cumulative renewable capacity stands at 4,163 GW and the global renewable energy industry is well-poised to add approximately 3,700 GW of new renewable capacity between 2023 and 2028. The growth shall be driven by improving economics and favourable policy implementations in over 130 countries, in addition to the sector’s ability to diversify energy resources, transform energy security and combat climate change.
As per the IEA, by 2028, renewable energy sources are anticipated to account for over 42% of global electricity generation, with the combined proportion of wind and solar PV doubling to 25%.
During the COP28 in Dubai in December, 2023. The pledge was taken which aims to triple global renewable energy capacity to at least 11,000 GW by 2030. Despite the existing policy and market challenges, projections indicate that global renewable capacity is on track to reach 7,300 GW by 2028. Moreover, in an accelerated scenario, global cumulative capacity is expected to double to 8,130 GW by 2028.
Margins Guidance
● They believe our gross margin will hover in the 10% range as seen in the domestic EPC margins for the Q1FY25
● In International EPC Projects. Margins are around 10%-12%
● The OM gross margins would be close to 24%
● EBITDA margin to be in the range of 5%-7%
Future Ahead
● Currently, the Company is actively pursuing projects totalling 23 GW in India and 5 GW in the international geographies.
● Company has expanded into new businesses like round-the-clock renewable energy projects with battery storage and focus on large solar PV + BESS projects.
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