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ATEEQ SHAIKH | Fri 2 Jun 2017-0705am Mumbai DNA

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With an increase in thrust towards renewable energy about 175 of total power capacity in India is through green energy

sources In the years to come the ratio is only going to rise but investment remains among the top concerns for the

increasing electricity generation from cleaner sources

Within the renewable sector wind energy dominates with a share of 56 followed by solar with 22 said a report by Care

Ratings on the power sector

India with 3200 km of coastline and Tropic of Cancer passing through the centre of the country there is ample opportunity

for more solar and wind farms to be set up

About 175 power capacity in India is renewables

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FROM AROUND THE WEB

According to International Renewable Energy Agencys (IRENA) latest report Remap Renewable Energy Prospects For

India India has an estimated renewable energy potential of about 900 Giga Watt (GW) from commercially exploitable

sources (1000 GW when large hydropower is included)

It is endowed with very good solar energy potential Most areas receive on average 4-7 kWhm2day of solar irradiance

Assuming 3 of the countrys wasteland is available for it there is a solar power potential of 750 gw read IRENAs report

Similarly there is a potential of 1028 GW for wind power

According to Ministry of New and Renewable Energy (MNRE) estimates the annual potential for biomass-based electricity is

at 18 GW generated by 120ndash150 million tonne of agricultural and forestry residues There is also about 5 GW of possible

power capacity from bagasse-based cogeneration in sugar mills

Hydropowers potential including small and large plants is 20 GW

There is also a scope of just four countries of the world including India (other countries being Brazil China and US) may be

able to account for half of global use of renewable energy by 2030

Despite such a huge potential IRENA states that there are major challenges in India bogging the sector one of which is

getting investment high upfront costs and uncertainty of revenue generation etc

However according to CARE Ratings more parananciers and sponsors especially private equity funds and pension funds are

likely to invest in completed renewable energy projects which would provide an exit to developers The renewable segment

would have to access innovative ways like green bonds climate bonds etc for their capital requirements

Financial institutions especially banks would fall short of contributing towards funding the huge renewable energy target

ie $600 billion in the next 10 years with mounting NPAs and bail-out of discoms being given higher priority read the report

outlook

In the ongoing parascal there is a possibility of foreign direct investment increasing further as more projects in solar and wind

near completion

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