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Welspun Renewablesby Mr Nikhil Mehra
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Where does India stand in the race for
renewable energy
The renewable energy sector in India is witnessing immense
growth and
presents an opportunity for remarkable financial returns. Strong
supportfrom the Government of India reinforces the market
fundamentals, creatinga dynamic market which is growing rapidly.
India already boasts of 35 GW ofrenewable energy capacity and plans
to grow this 500% over the next sixyears.
India presents a picture of a reliable, fast growing,
well-diversified, andprofitable market opportunity for renewable
energy. India’s per capitaenergy consumption is very low. The
growth picked up in recent years risingfrom 612 kWh to 1,010 kWh
over last decade (2005- 2015)—a growth of5.1% per annum. Rural
electrification and provision of 24X7 power supply isa major
priority for the government. Urban centres, too, have
undergonerapid growth and India, which is relatively less urbanized
with only 31% of
population in cities, is moving in the direction of other
developing nationssuch as China (50% urban population) and Brazil
(87%).
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Urban areas are significantly more energy intensive and
constitute a key
driver of demand growth. Policy support Energy security is a
prominentpolicy concern.
A number of studies suggest that India’s renewable
resource base isseveral times higher than the earlier
estimates. According to a Berkeley labstudy, India’s wind potential
ranges between 2,006 GW and 3,121 GW (for
different mast height and site conditions) which is several
times the earlierofficial resource assessment of 48.5 GW. Renewable
energy build, isincreasingly competitive with electricity from
mainstream fossil fuels such ascoal and natural gas. This is driven
both by a variety of global factorsincluding technology, module
prices, and optimization, as well as localfactors such as
competition in capital goods and EPC, financial engineering,new
entrants, and captive users.
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Public opinion has lent consistent support to sustainable energy
in India, and
this has facilitated states maintain a positive and stable
policy environmentover the years. On similar lines, a number of
private companies are settingup renewable energy projects for their
own use, or have committed tosource 100% of their consumption from
green sources. State-ownedorganizations are entrusted with the task
of establishing 10 GW solarprojects. Renewable energy
projects are often located in distant and
remote areas and in some cases in arid lands. Employment, even
in limitednumbers, helps improve social and economic prospects of
the region.Decentralized energy initiatives such as roof-top solar
power plant and solar-powered agriculture pump sets offer immense
scope to generate electricity,thus offering a modest source of
income.
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Awards
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Contact Us
MUMBAI
406, Hubtown Solaris, NS Phadke Marg,
Andheri East, Mumbai - 400069,
Phone: +91-022-61408000
Fax: +91-022-26844888
NEW DELHI
3rd Floor, Press Trust of India Building. 4
Parliament Street, New Delhi - 110001
Phone: 91-011-66034600
Fax: 91-011-66273091
General Enquiries
Email: [email protected]:
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