Sunil Misra, as Director-General of the Indian Electrical and Electronics Manufacturers Association (IEEMA), has an inside track on the country’s renewables challenge. He speaks to ‘India Investment Journal’ on what gives India an edge in this sector and how the 175GW target for renewable electricity generation by 2022 is on course. What are the main factors behind a surge in India's electrical industry sector? India has seen significant and continued growth in its GDP and per capita income. There has [...]
The Indian government’s resolve is to generate 175 GW of electricity from renewable energy by 2022 and increase the share of renewables in India’s energy mix to 40 per cent by 2030. Of the 175 GW, 100 GW will come from solar, 60 GW from wind, 10 GW from biomass and 5 GW from small hydrop projects. Here is a broad snapshot of the challenge.
The Rural Electrification Corporation (REC) launched its first Green Bond on the London Stock Exchange’s new International Securities Market (ISM) to finance renewable energy projects in India. A new 10-year dated green bond listed by REC raised $450 million, with an annual yield of 3.965 per cent. It was 3.9 times oversubscribed on the final order book and secured strong international investor interest, with Asian investors making up 68 per cent of the order book and investors from Europe, Middle East [...]
India’s ambitious renewable energy targets will help the country pick up some of the slack created by Donald Trump pulling the US out of the Paris climate accord. Early June, the world was in shock. President Donald Trump of the US announced that he was pulling out of the Paris climate pact. The news wasn’t entirely unexpected, but the US withdrawal still raised question marks about the world’s ability to meet the goal of capping the rise in global temperature [...]
The biggest challenge for India’s Renewable Energy targets is the intermittent nature of Wind and Solar technology, writes a power sector expert.
India remains the fastest growing economy with GDP upwards of 7 per cent and growing population. With increasing urbanisation and growing needs and demands, the energy requirement is also growing at a CAGR of 5 per cent from FY2010.
The capacity addition in the 11th plan (2007-2012) has been 50GW and that in 12th plan (2012-2017) and beyond is close to 130GW. The main contribution for this significant capacity addition (CAGR 10.5 per cent) has come from the private sector, which now has the largest share of 145GW followed by state sector with 104GW and remaining with central sector. With the significant capacity addition, the energy deficit which was 10 per cent in 2009-10 has reduced to 0.6 per cent in 2017-18 and the peak power deficit from 12.8 per cent to 0.6 per cent in 2017. The present energy generation in the country is close to 1300TWh with 330GW of operational capacity comprising mainly fossil fuel 225GW, Hydro 45GW and Renewables 55GW. Renewables comprise Wind, Solar Bio mass and Hydro <25MW. With 1.3-billion population, the per capita consumption of electricity is close to 1000KWh/annum – a third of global average.