The renewable power sector in India keeps growing rapidly and presents a way for strong financial returns. Mytrah Energy Limited is listed working in london and is one of many largest renewable power producers in India today. We are pleased to present this paper, coded in partnership with PwC India, which explains the Indian renewables sector and highlights some of the differences between it along with the, perhaps also known, markets in Europe.
Having built a 560 MW operating portfolio over the last five years, Mytrah is benefitting from many of the key differences highlighted on this paper:
1. India stands of power, thereby, new renewable capacity produces electricity for an undersupplied market.
2. Renewable capacity is quicker to promote than alternatives such as coal-fired power.
3. Renewable electricity prices are just like the ones from electricity business sources.
In contrast to Europe, where renewables have generally displaced existing generation capacity and required heavy subsidies, India benefits from truly market-led alternative energy demand, without significant subsidy. Strong support from your Government of India reinforces the market fundamentals, setting up a dynamic market which is growing rapidly. India already has 35 GW of renewable energy capacity and promises to grow this 500% in 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 is placed on the bottom. But there is not a single large IPP [independent power producer] available. “Countries like Spain have a lot of listed wind entities, in India it really is near to nil. Compare this to around 20 listed thermal companies. As well as in the following 10 years, wind as a possible industry will add something similar to 50,000 MW. That’s a mainstream number,” says Kailas.
In our view, India is among the most exciting power market on earth, for renewables. With 400 MW in construction today and a pipeline exceeding 3,500 MW, we at Mytrah Energy Limited continuously play a significant role in the development of renewable capacity. We hope that might be this paper becoming a useful and informative resource and are very happy to participate in further discussion.
To learn more about Ravi Kailas see our new resource.