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Opportunity in Open Access Transaction and Short Term Power Purchase Agreements for Developers, Consumers and Traders in Wind Power Business of India
In recent step, regulatory commission allowed distribution utilities to renegotiate the long term PPAs to a lower degree of tariffs which is determined by reverse auction of the wind power tariffs. In recently held auction, sharp decline in the tariff of wind power was witnessed. The tariff fell close to INR 1-1.5 per Unit and reached a level of INR 3.46 per Unit, which is significantly lower than Feed in Tariffs of some states. It is also anticipated that wind power generators may further bid aggressively taking the tariff to sub INR 3 levels. These tariff levels will have the direct impact on the existing plants. Further, owing to such lower tariffs, distribution utilities can put a pressure on to generators to renegotiate PPAs or simply dishonour them. This issue is critical and long term PPAs can come under jeopardy, hence, the opportunity for the wind power developers lie in signing short term PPAs and selling power directly to the consumers through Open Access route.
Since falling PLFs of thermal power plants in the current scenario raise a serious concern over maintaining the power demand-supply equilibrium of the country, especially addressing peak power requirements. There exists a strong business case for the renewable energy sources (RES) in India. For clearing all the myths and presenting a clear picture of what would be the likely fate of all renewable energy sources (solar, wind, biomass and small hydro) in India, enincon consulting llp attempts to come up with a research study on the future outlook of non-conventional sector in India and associated opportunity tune for the related value chain players.
Country Wise Track of Forthcoming Oil & Gas Projects, Thermal Power Plant Projects, Power Transmission Projects, Wind Power Projects, Solar Power Projects, Transportation and Logistics Projects
India is on the verge to witness a major transformation not only in terms of its social stature but in economic repute too. With correct measures taken into the right directions, India seems moving forward to take a centrifugal position in many areas of international affairs. Energy and infrastructure development is one such avenue in India that has already created its own space on the international podium and is gaining limelight from many of the global repute companies, courtesy which the Indian energy & infrastructure segment is anticipated to become a US Dollar Trillion market by FY’ 2020-21.
With no time, the RES industry in India has gain momentum by enrooting serious flow of funds of above USD 20 Billion from domestic as well as global market till the last fiscal (FY’2015-16). It is pertinent to note that during 2015, India was ranked among the top 5 developing countries of the world for highly investing into RES, courtesy the flow funds into the solar facet. The initiatives taken by the Indian government to push the solar industry has really worked well in pulling more than decent investments into the domain.
Renewable Energy Sector in India poised for remarkable growth with massive investment opportunity worth USD 250 Billion in store.To meet the ever growing energy demand of the country the Government of India has set targets which will take the total renewable capacity to almost 175 GW by the end of 2022. This includes 60 GW from wind power, 100 GW from solar power, 10 GW from biomass power and 5 GW from small hydro power.Moving in sync with the government at center for making India a hub for renewable energy, states too are putting dedicated efforts for up beating the renewable energy market in the country especially in solar.
Enincon uncover the opportunity in wind sector in india and come up with Report ‘Offshore Wind Power in India – Unleashing Oceans of Opportunities’ as a part of ‘Fact Factor Report Series on Indian Wind sector’. The report has been prepared to cater the long standing need of wind sector professionals by providing them with quality information and analytis.