Ravi Kailas
The renewable energy sector in India continues to grow rapidly and presents an opportunity for strong financial returns. Mytrah Energy Limited is listed london which is among the largest renewable energy producers in India today. We are glad to present this paper, developed in partnership with PwC India, explaining the Indian renewables sector and highlights many of the differences between it along with the, perhaps better known, markets in Europe.
Having built a 560 MW operating portfolio over the last 5yrs, Mytrah is benefitting from a number of the key differences highlighted on this paper:
1. India is short of power, and thus, new renewable capacity produces electricity with an undersupplied market.
2. Renewable capacity is faster to showcase than alternatives like coal-fired power.
3. Renewable electricity price is just like the ones from electricity off their sources.
Contrary to Europe, where renewables have generally displaced existing generation capacity and required heavy subsidies, India benefits from truly market-led sustainable energy demand, without significant subsidy. Strong support through the Government asia reinforces the market fundamentals, developing a dynamic market which can be growing rapidly. India already has 35 GW of renewable power capacity and promises to grow this 500% within the next six years.
What he perfectly located at the sector was surprising. India’s wind energy potential is approximately 80,000 MW; 15,000 MW has already been set up on the ground. But there was clearly not only a single large IPP [independent power producer] in the commercial. “Countries like Spain have a lot of listed wind entities, however in India it’s all-around nil. Match it up with to around 20 listed thermal companies. Along with the next Decade, wind as a possible industry will prove to add something like 50,000 MW. That’s a mainstream number,” says Kailas.
In our opinion, India is among the most exciting power market on earth, particularly for renewables. With 400 MW in construction today as well as a pipeline exceeding 3,500 MW, we at Mytrah Energy Limited continually play a significant role in the increase of renewable capacity. Hopefully that might be this paper to become a useful and informative resource and will also be very happy to embark on further discussion.
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