Welspun Renewables

by 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 support
from the Government of India reinforces the market fundamentals, creating
a dynamic market which is growing rapidly. India already boasts of 35 GW of
renewable energy capacity and plans to grow this 500% over the next six
years.
India presents a picture of a reliable, fast growing, well-diversified, and
profitable market opportunity for renewable energy. Indias per capita
energy consumption is very low. The growth picked up in recent years rising
from 612 kWh to 1,010 kWh over last decade (2005- 2015)a growth of
5.1% per annum. Rural electrification and provision of 24X7 power supply is
a major priority for the government. Urban centres, too, have undergone
rapid growth and India, which is relatively less urbanized with only 31% of
population in cities, is moving in the direction of other developing nations
such 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 prominent
policy concern.
A number of studies suggest that Indias renewable resource base is
several times higher than the earlier estimates. According to a Berkeley lab
study, Indias wind potential ranges between 2,006 GW and 3,121 GW (for
different mast height and site conditions) which is several times the earlier
official resource assessment of 48.5 GW. Renewable energy build, is
increasingly competitive with electricity from mainstream fossil fuels such as
coal and natural gas. This is driven both by a variety of global factors
including technology, module prices, and optimization, as well as local
factors 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 environment
over the years. On similar lines, a number of private companies are setting
up renewable energy projects for their own use, or have committed to
source 100% of their consumption from green sources. State-owned
organizations are entrusted with the task of establishing 10 GW solar
projects. Renewable energy projects are often located in distant and
remote areas and in some cases in arid lands. Employment, even in limited
numbers, helps improve social and economic prospects of the region.
Decentralized energy initiatives such as roof-top solar power plant and solarpowered 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: welspunenergy@welspunenergy.com
Website: http://www.welspunrenewables.com

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