Renewable energy developers see promise in IndiaJanuary 13, 2015
Energy developers are looking to solve the power deficiency issue in some Indian states
Energy developers from around the world are converging on India in order to take advantage of the power deficiency that can be found in many states. Political issues last year saw the formation of a new state in India, called Telangana. The newly form state currently lacks the distributed energy infrastructure it needs to operate effectively, and this has placed pressure on surrounding states. This has created a promising opportunity for developers, however, especially those that specialize in renewable energy.
Newly formed state attracts the attention of renewable energy companies from around the world
Greenko, a renewable energy company, has approached the new Telangana government, offering to develop some 800 megawatts of clean energy capacity in the state. The state is currently considering purchasing electricity through the open market, but doing so would be a massively costly endeavor. By embracing clean energy, the state may be able to avoid some of these excessive costs and take advantage of energy sources that are naturally replenished, such as wind and sunlight.
State and central governments work together to build new renewable energy proejcts
Telangana has begun working with the central government and public companies in order to establish large-scale solar energy projects. Some of these projects are being awarded to companies through auctions being held by the Indian government. Some companies are finding success by directly engaging state governments rather than bidding for projects through the central government’s auction. SunEdison is one of these companies.
Greenko plans to expand its renewable energy capacity in India from 715 MW to 1 GW by the end of 2015
Greenko has plans to expand its renewable energy portfolio in India. Last year, the company brought some 715 megawatts of clean energy capacity online. It now plans to increase this capacity to 1 gigawatt by the end of 2015. Greenko currently has an estimated 2.5 gigawatts of energy projects at various stages of development. Some of these projects will be completed and begin generating electrical power this year, while others will take years to develop and bring online.