MAY 20238India's installed power generation capacity reached 416 gigawatts (GW) in fiscal year 2022­2023 (FY23), of which 125 GW came from renewable energy and 47 GW from hydro. According to the Centre for Energy Finance (CEEW-CEF) of the Council on Energy, Environment, and Water, 83 GW more RE was being put into use as of February 2023. It also mentioned that 92 percent of India's new power generation capacity 17 GW was added in FY23 and came from renewable sources. "Solar still leads, accounting for 84 percent of newly constructed RE capacity. However, the addition of wind capacity increased significantly throughout the year, reaching 2.3 GW. Presently, 11.8 percent of India's total electricity generation comes from renewable sources. As part of its Nationally Determined Contributions, India has promised to derive 50 percent of its total installed electrical capacity from non-fossil fuel sources by 2030. GAIL (India), the top gas supplier in the nation, intends to construct an ethane cracker near its liquefied natural gas (LNG) import plant in Western India in order to satisfy an anticipated increase in demand. As the demand for products like paints, adhesives, and plastics rises as a result of the rising economy, Indian businesses are increasing their petrochemical manufacturing capacity. Ethylene is created by a cracker and is necessary for goods like plastics. Indian Oil, demand for petrochemicals might almost triple by 2040, pushing businesses to make significant expenditures to build new facilities across the nation. One of the sources told Reuters that GAIL is searching for property in the coastal area of Dabhol in the Maharashtra state for the 1.5 million tonnes per year (mtpa) cracker project. A 5 mtpa LNG plant is run by GAIL at Dabhol.The corporation intends to import ethane from the United States for the undertaking. An inquiry for comment was not immediately answered by the GAIL communications department. "We are attempting to resolve issues related to purchasing land, most likely in or around Dabhol. The insider stated, "We are expecting for financial assistance from the state government. If a deal in Dabhol doesn't go through, GAIL is also looking into the prospect of buying land in Madhya Pradesh, which borders Maharashtra, the source claimed. The dual-feed cracker that is being planned will also be able to crack up to 40 percent liquefied petroleum gas (LPG), giving the option to switch to a less expensive feedstock to optimise profitability. India consumes nearly one-third of the world's average amount of petrochemicals per person. The third-largest economy in Asia uses between 25 and 30 million tonnes of petrochemicals per year. TOP STORIESGAIL PLANS $4.9 BILLION ETHANE CRACKER IN WEST INDIARENEWABLES, HYDRO CROSS 40 PERCENT OF INDIA'S INSTALLED POWER GENERATION CAPACITY IN FY23
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