The renewable power sector in India continues to grow rapidly and presents a chance for strong financial returns. Mytrah Energy Limited shows up in London which is one of many largest renewable energy producers in India today. We’re thrilled to present this paper, coded in partnership with PwC India, explaining the Indian renewables sector and highlights a few of the differences between it as well as the, perhaps better known, markets in Europe.
Having built a 560 MW operating portfolio over the past five-years, Mytrah is benefitting from some of the key differences highlighted within this paper:
1. India is short of power, and thus, new renewable capacity produces electricity for an undersupplied market.
2. Renewable capacity is quicker to advertise than alternatives including coal-fired power.
3. Renewable electricity prices are comparable to that relating to electricity using their company sources.
As opposed to Europe, where renewables have generally displaced existing generation capacity and required heavy subsidies, India gains advantage from truly market-led renewable power demand, without significant subsidy. Strong support from your Government of India reinforces the market industry fundamentals, creating a dynamic market which can be growing rapidly. India already has 35 GW of renewable power capacity and intends to grow this 500% in the next six years.
What he found in the sector was surprising. India’s wind energy potential is around 80,000 MW; 15,000 MW is set up on the ground. But there were not a single large IPP [independent power producer] available. “Countries like Spain have a lot of listed wind entities, but also in India it really is close to nil. Compare this to about 20 listed thermal companies. Plus the next Decade, wind being an industry will prove to add something such as 50,000 MW. That’s a mainstream number,” says Kailas.
In our view, India is among the most exciting power market on the globe, specifically renewables. With 400 MW in construction today plus a pipeline exceeding 3,500 MW, we at Mytrah Energy Limited continually play an important role in the increase of renewable capacity. We hope you will have this paper to become a useful and informative resource and will also be pleased to engage in further discussion.
For more information about Ravi Kailas please visit webpage: read here.