Excerpts about Renewable Power

Investor interest in the Indian renewable energy sector is high, driven by the
Narendra Modi governments aggressive push for renewable power to fight
climate change, with a target of increasing Indias clean energy capacity
more than fivefold by 2022 to 175GW, of which 100GW is to come from solar
power.
In a July 2015 report, Deutsche Bank forecast Indias solar capacity reaching
only 34GW by 2020. Realistically, challenges of weak financials of
distribution companies and grid constraints need to be addressed. Hence, our
forecasts consider 34GW solar power capacities in India by 2020, the report
said.
CEA said in the draft national electricity plan, 2016, that the share of non-
fossil fuel power generation capacity comprising hydel, nuclear and
renewable sources of energy, will reach 46.8% by 2021-22, up from 30% at
the beginning of this year.
This is well ahead of what was prescribed as Indias intended nationally
determined contribution, a commitment made at the UN framework
convention on climate change in Paris last December of relying on non-fossil
fuels for 40% of electricity generation by 2030.
Non-fossil fuels are expected meet 56.5 % of Indias electricity requirement
by the end of 2026-27, according to the plan.
India has about 50 giga watt (GW) of renewable energy capacity including
small hydel projects. Of this, about 28 GW is wind power and 8.5 GW is solar.
At the moment, the country has about a 5.7 GW of nuclear power generation
capacity and the Department of Atomic Energy has set a target of having 63
GW of nuclear power capacity by 2032.
Delhi-based renewable energy and telecom solutions company ACME
Cleantech Solutions Pvt. Ltd has raised Rs500 crore from Ajay Piramal-
controlled Piramal Enterprises Ltd.
ACME currently has a total portfolio of around 1.5 gigawatts (GW) of solar
energy projects. Of this, around 600 megawatts (MW) is operational and
400MW is under various stages of construction. The firm has signed power
purchase agreements for another 500MW.
Indias chances of achieving the target of 60 gigawatts (GW) of wind energy
capacity by 2022, according to companies and analysts.
India has set itself the target of achieving 100GW of solar energy and 60GW
of wind capacity by 2022. It currently has 27GW of wind and about 8GW of
solar capacity installed.
Over the past five years, wind turbine generator (WTG) costs have fallen
about 20% while those of solar modules have fallen by about 80%. This has,
in part, helped solar tariffs to fall to a record-low of Rs.4.34 per kilowatt-hour
(kWh) in January from around Rs.17 per kWh in 2010. This could mean a
better IRR for solar energy projects.
Wind offers IRRs of 15-20% compared with 10-14% in solar... Solar will always
add capacities at a higher rate because of the higher volume targeted in solar
 Wind energy producer Mytrah Energy Ltd Thursday said GE Energy Financial
Services will invest $31 million in a 200 MW wind energy project it is
developing in Andhra Pradesh.
The company has plans to reach an operating capacity of 1,000 MW by mid-
2017, a target Kailas said the company was on track to achieving.
We expect that solar tariffs will continue to go down by 5-8% year-on-year,
said Vikram Kailas, managing director at renewable energy producer Mytrah
Energy Ltd.
In any other country, bidding is a double-edged sword, so they have a
condition that one cannot bid below a certain price or IRR (internal rate of
return). But India does not have any such condition. We believe that people
will continue to be aggressive
Tariffs will go down only if there will be a decrease in the overall cost of
setting up solar projects from Rs.5.5 crore per MW to Rs.3-4 crore and plant
load factors increase from the current 15-20%, said Anubhav Gupta, an
analyst at Maybank Kim Eng Securities India.
Renewable energy producer Mytrah Energy (India) Ltd is considering raising
$100-200 million by selling shares through an initial public offering (IPO) or to
private equity investors, managing director Vikram Kailas said.
Separately, the company plans to provide an exit opportunity to existing
investor IDFC Ltd, which owns a stake that is valued at about $100 million,
Kailas said.
In June, Tata Power Co. Ltd said it would buy clean energy firm Welspun
Renewables Energy in a $1.38 billion deal, the largest transaction in the
countrys renewables sector.
Founded in 2011 by Sinha, a former chief operating officer at wind turbine
maker Suzlon Energy Ltd, ReNew Power has now more than 1 gigawatt (GW)
of operational capacity from its own wind and solar projects.