Indian Renewable Sector – enormous opportunities

In order to keep up with economic growth, India will need to increase four times its current installed capacity of renewable energy. This opens a number of opportunities for Norwegian companies.

renewable-energy

The goal for 2022 is 25% renewable energy, which means 175 GW.

Growth

India expects its growth rate to remain between 7 – 8 % over the next decade, but success of any economy depends on availability, affordability and sustainability of its energy sources. For such high growth ambitions, it is imperative that India achieves a robust and sustainable energy security to fuel its growth engines.

The Approach

Indian government through the Ministry of New and Renewable Energy, has taken the first step in this direction by setting target of achieving an energy mix with 25% renewables by 2022. This translates into 175 GW of renewable capacity. This means a fourfold increase from the current installed capacity of 44 GW. The focus is not only on adding new sources of generation such as Solar PV & thermal, Wind – Offshore and onshore, Hydro Power and Biomass but also on enhancing available generation from existing renewable generation capacity through retrofitting and modernization of ageing projects.

The huge influx in renewable sector in India can be attributed to the policy, regulatory and structural changes coupled with financial reengineering of the electricity of India.

Sectoral snapshots

    • Solar Energy:
      • With 365 days of an average solar intensity of 200 MW/sqkm, solar is a high priority area for Indian Government as is the case with any other tropical nation.
      • The recently launched National Solar Mission to enhance the solar capacity to 100 GW (from current capacity of 8 GW) coupled with policy Instruments such as renewable energy certificates dedicated for solar, competitive bidding, mandatory solar purchase by utilities have been the drivers for OFF Grid and ON grid sectors.
      • More info here
    • Wind Energy: 
      • With 27 GW of on shore wind capacity and a 100 GW offshore potential along the 75000 Km coastline, the wind continues to be an area of interest with a target capacity of 60 GW by 2022.
      • Policy measures such as Feed in tariffs , Acceleration deprecation , Generation Based Incentive and Offshore wind Policy have facilitated accelerated wind development.
      • More info here
  • Bio Mass and Bio Fuels:
    • With Huge agricultural base, India has substantial biomass potential to fuel its targeted 5 GW of bio mass based dispatch able renewable generation.
    • The bio fuel policy promotes blending of biofuels in Petrol and Diesel.
    • More info here
  • Hydro power:
    • Small Hydro:
      • India plans to add almost 20000 MW of small hydro Power (<25 MW).
      • Government offers financial support for resource assessment, setting projects in cooperative , private and JVs, R&M , development and upgradation of water mills.Renewable energy certificate mechanism with mandatory minimum limit of renewable energy obligation on utilities.
    •  More info here
    • Large Hydro Power (>25 MW):
      • India has technically and economically viable hydro potential of 84 GW (apart from small hydro) out of which around 39 GW has been harnessed. The potential projects are primarily located in Northern Hilly states of Himalayas and are generally allocated on nomination basis or transparent auction process.
    • New Technologies:
      • Such as hydrogen fuel , coke to ethanol, fuel cells , battery operated vehicles, geothermal energy, biocells, ocean energy are all upcoming fields and massive R&D is being conducted. Indian government welcomes pilot projects in these fields to evaluate the commercial sense.

Opportunity Areas

  • Project Developer and Financing in all areas of renewables
  • Equipment manufacturers for BTG and BoP
  • Project assessment, Consulting, EPC and Turnkey, Tunneling, Environment Impact assessment.
  • Opportunities in wind resource assessment, Offshore Installations, O & M.
  • Renewable Energy Integratio , Dispatch and management, Solar and wind Forecasting
  • Opportunities exist in areas of biodiesel storage, Research on Advanced Biofuels and their commercialization, Coke to ethanol production, ethonal based transportation, Ethanol import etc.

For a successful Integration in Indian Market, contact:

Avanish Verma
Market Advisor, Innovation Norway in New Delhi
avanish.verma@innovationnorway.no
+919717778224

logo-eng-blogg-innovation-norway

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *