New hydropower policy aims to boost project viability

A comprehensive policy to promote hydropower generation is set to be announced by September—with viability gap funding for projects, compulsory hydropower purchase obligations for distribution companies and a set of good practices that states have to follow.

The idea is to address factors that currently drive hydropower costs up way above those of other sources of power and give policy support in its market development, according to a government official, who asked not to be named.

The policy being prepared by the power ministry will have provisions for viability gap funding, which will help in meeting the shortfall in project costs and reducing hydroelectricity tariffs for consumers, said the official. Hydropower is expensive and in some cases more than double the cost of power from coal-based thermal plants, which is available at Rs.3-5 per unit.

The ministry will also expand the scope of power distribution companies’ renewable power purchase obligations to include hydropower from projects with a capacity greater than 25 megawatts (MW). At the moment only power from those with less than 25MW is considered renewable power.

Compulsory hydropower purchase from large projects will either be made part of the existing renewable power purchase obligation of distribution companies or a separate requirement, so that its inclusion does not affect the market for other renewable sources of energy like wind, solar or biomass, said the official cited earlier.

Power minister Piyush Goyal said on 18 June that the new hydropower policy will be comprehensive. “It will explore the possibility of providing to hydroelectric projects beyond 25MW the benefits that are at present available to renewable energy,” Goyal said. The power tariff policy announced by the ministry on 20 January included steps to promote clean energy, which at present is not available to large hydropower projects. It specified that 8% of total electricity consumption will be from solar power by March 2022 and exempted renewable energy from interstate transmission charges.

Since state governments have rule-making powers in the electricity sector, the central government has been offering incentives for the adoption of a uniform policy framework and signing binding agreements with states to implement reform measures. One example is the debt restructuring and efficiency improvement measures taken under the Ujwal Discom Assurance Yojana (UDAY). That helps in addressing state-level implementation hurdles when a national policy in the sector is framed. One of the factors that contribute to higher tariff for hydropower is the upfront project-acquisition charges that some states levy. Hydropower tariffs, determined through a “cost plus generating company’s margin” formula, are a disincentive for achieving efficiency in the sector, say industry players.

“The fact is that consumer is not prepared to buy electricity at any price. Therefore distribution companies are not able to sell hydropower. This needs to change,” said Awadh B. Giri, chief executive officer, hydropower, Hindustan Powerprojects Pvt. Ltd.

India’s unmet requirement for electricity offers a huge market for hydropower, which, unlike coal-based thermal power projects, does not require expensive fuel, said Giri, adding that the cost of hydropower generation declines over a period of time. What is needed is a price for hydropower for 25 years discovered through competitive bidding, its recognition as renewable energy and similar policies across states in awarding projects, said Giri.

Source: Mint; 27 June 2016



CIL’s coal price hike to push power tariff by 8-10 per cent

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Power tariff is likely to increase by 8-10 per cent in the country after Coal India decided to hike the commodity’s prices, Tata Power CEO and Managing Director Anil Sardana has said.

He also warned against early exuberance over the UDAY scheme and claims of electricity surplus by the government.

Coal price has increased from 13 per cent to 19 per cent.

So the minimum increase that will happen, will be 13 per cent for thermal. If the variable price will go up by 13 per cent, then the average price of power will go up by 8 to 10 per cent,” Sardana told PTI in an interview.

Last month Coal India had increased weighted average coal prices by 6.2 per cent over the current price to garner additional revenue of Rs 3,234 crore this fiscal.

Commenting on UDAY scheme, meant for the revival of debt ridden discoms, he said: “At this stage nothing has changed.

It is too early to assume they (discoms) will come out of their challenges and start to buy more power. They just got bonds. They are paying for arrears. You have to give them more time.”

“In past also we had many schemes, which always attempted and assumed that they will reduce their losses and improve their performance. If that does not happen then rest part of UDAY will sequentially has a challenge. One has to wait and see how actually they change their performance.”

On the recent Appellate Tribunal for Electricity (APTEL) order setting aside compensatory tariff allowed by Central Electricity Authority (CERC), he explained, “CERC adjudicated under removal of difficulties. It is not the right way to do but force majeure is the right way to do.”

He further said, “They (APTEL) have reverted it back to CERC saying you please determine the compensation with force majeure. You cannot envisage impact under force majeure. What we could not envisage was change (increase) in coal prices.”

Sardana was also of the view that it is time to change gears and talk about consumers, which is not happening for last many years.

“Our per capita consumption has not changed in many years.

We are still at 1,000 Kwh per person in a year. Has consumer started to consume more. If that has not happened then scratching my back, saying I have improved, I am surplus… I think we should wait in making such claims.”

The Centre has planned to be power surplus nation by having overall energy surplus of 1.1 per cent with a target of generating 1,178 billion units during this fiscal.

On the plan to provide energy efficient air conditioners to consumers through state-run firm EESL, he said, “Good part is that they are bringing a lot of awareness. The bad part is, I always say that government should not be in business of business.”

Source: Business Today; 13 June 2016


Smartphone apps help bring reliable power to 1.3 billion people

New Delhi: At any given minute in India, you can find out how much electricity is for sale and at what price with a few swipes across a smartphone screen—a level of transparency in the nation’s power sector that’s increasing the odds of far-reaching change to end blackouts.

The unprecedented instant access, which shows untapped power supplies and comparatively cheap available electricity while millions go without reliable supplies, highlights deep flaws in the state-level distribution system. The picture painted by the data is increasing pressure on local officials to embrace Prime Minister Narendra Modi’s plan to fix the woes of indebted state retailers so all of India’s 1.3 billion people have access to electricity by 2019.

“There is no escape route for states any more,” said S.K. Agarwal, a member of Uttar Pradesh electricity regulatory commission. “And that’s a good thing because it forces the distribution companies to become more efficient.”

Required to sell power below cost for years, India’s cash-strapped power distributors stacked up unpaid loans of almost $74 billion as of September. The losses have eroded their ability to purchase enough power to meet demands of customers and invest in infrastructure to support new connections and increase efficiency.

Transforming those distributors, operated by India’s states, to run more efficiently and ensure they have funds to purchase greater supplies is key to Modi’s promise of lighting up the $2 trillion economy. Eighteen of India’s 29 states, and one of its union territories, has agreed to join Modi’s debt plan for the state power distributors, according to a tally by the central government as of 20 May.

India failed to achieve a sustainable turnaround of the state utilities through at least two previous reform plans, which focused on financial bailouts while doing little to push the states or their utilities to improve efficiency.

Proponents of Modi’s plan say Vidyut Pravah, the smartphone app that updates every 15 minutes with regional power availability, shortages and prices, holds distributors accountable and improves the odds they’ll see through their side of the restructuring bargain.

“There is tremendous pressure on us to perform, to be able to meet the targets set by the central government,” said D.K. Sharma, a director at Ajmer Vidyut Vitran Nigam Ltd., a power distributor in the northern state of Rajasthan, which is ruled by Modi’s Bharatiya Janata Party (BJP). “We’re trying to ensure that every unit of electricity we supply is metered.”

Rajasthan’s three distribution companies had a combinedRs.85,000 crore of debt as of last year, the most among all states in India. Under the debt recast plan, the local government has taken over Rs.60,000 crore of loans, leaving distributors with debt of Rs.25,000 crore, according to Sharma.

“The central government’s efforts to take India towards self-sufficiency in power are trickling down to the states,” said Chandrajit Banerjee, director general at New Delhi-based Confederation of Indian Industry, a lobby group. “States realize if they don’t do their bit, they would be left behind.”

The central government’s debt recast plan has increased demand for electricity from the distribution companies, according to Gurdeep Singh, chairman of state-run generator NTPC Ltd., the country’s biggest power producer.

Buying more

“Some of the distribution companies who were finding it difficult to buy power are now buying more,” Singh told reporters in New Delhi on Monday. “The plan has reduced the cost of funding, giving the elbow room to absorb more power.”

The electricity deficit in Uttar Pradesh has nearly halved over the past year to 6.4% in April, even as demand rose. The state has taken on Rs.40,000 crore of debt held by distribution utilities, leading to monthly savings of Rs.400 crore on interest payments and spurring higher power purchases and distribution, according to the regulatory commission’s Agarwal.

Modi’s administration has linked 8,095 villages to power transmission lines as of Monday, and seeks to bring reliable supplies to about 9,900 more, according to Grameen Vidyutikaran, a separate app set up by his government. After promising 24×7 electricity and economic development to win a record political mandate in 2014, failure could damage his party’s chances in the next elections.

“We want to put everything out in the open for the people to see,” Power Minister Piyush Goyal said at a press briefing last month. Bloomberg

Source: Mint; 07 June 2016


GE Power India to grow 50% in 2016: Steve Bolze

Mumbai: Steve Bolze, president and chief executive officer of GE Power, believes digitization will be the biggest disrupter for the power industry in the next 10-20 years. In India to address the conference on the Future of Electricity organized by Mint and General Electric Co. last week, Bolze said India has become a real microcosm for everything going on in the global power sector. Edited excerpts from an interview:

You have met with Indian policy makers and industry officials this week. What are the key takeaways for GE Power?

The world right now has a major need for power: 50% more in the next 20 years. We are all talking about affordable, accessible, reliable and sustainable power. I would say nowhere in the world is it more visible and apparent than in India. When we talk about 50% more power in the next 20 years in the world, in India it is 100% more power in six years. It is almost four times the rate of growth than the rest of the world.

So, that drives the need for investment right now. On the power front, however, India has been a bit variable. There have been challenges not only at the policy level but fuel availability and pricing too. Power is a growth business for us and with our recent Alstom SA acquisition, we have gone up from 15% representation in India to 55%. We have also on boarded around 3,000 Alstom SA employees to go up to 18,500 employees in India. And in terms of our commitment and local presence, it has never been a more exciting time to be in India.

So how do you see your India business growing?

In the power segment, our India business would probably grow by 50% this year. In the past, we have been growing over 50%. And that is pretty good. We have 3,000 employees for the power segment in India, with over a third of these being engineers. They are not only supporting our projects in India but also some of our global work. Our team is excited because projects are happening in India and a lot of work that is being done in India is impacting some of our biggest launches such as HA gas turbines. Also, one of the biggest transformation that is happening in the industry and the company is digital. And we have a big digital and data science team in Bengaluru. We would be piloting things like Predix (GE’s Industrial Internet of Things platform), with customers like GMR in India. So, India has become a real microcosm for everything that is going on in power sector in the world.

What do you mean by digitization in the power sector? What is GE doing to get that process in place?

Digitization is the single biggest transformation going on right now in the world and will be the biggest single disrupter to the industry in the next 10-20 years. Say today you have a lot of assets that exist to generate power and they were put in place in an era where a lot of it was just physical understanding of the assets. Digitization is all about mating the physical with the digital world, monitoring all the data that comes out.

We have terabytes of data that come out of a gas turbine every year with advancement in data analytics. By hooking up physical assets with data analytics, you can unleash new areas of high performance, better emission performance, better output and better efficiency, so the assets would perform better than they do today. This is real.

Our customers and we know there are more opportunities here. Digital is a huge strategy for the company and we basically re-pivoted the whole strategy to be a digital investor. We are all focused on how to get more efficiency, output and serviceability of the existing assets. From a customer’s point of view, they would want the most return on investment on their assets. India has been quick in adopting the digital disruption.

In the Indian culture, there is always emphasis on innovation. In the power space alone, we have 15 data scientists working at our data centre in Bengaluru and we have digital solutions rolling out here. I think you will see more of that happening. That is why digital is such a big thing.

But capital expenditure by a lot of companies has been put on hold. Would companies pay for digitization?

I would say that they are clearly some short-term challenges. Companies, particularly in the energy field have to make adjustments in the timing of project closures, fuel availability and tariff. Those challenges are reality and that affects not only other players but GE, too.

But I would say that policies are now becoming clearer. The demand is clear; the diversity of technology going to be acquired even in a world that is a little uncertain is clear. There is clarity on the focus on energy efficiency. So, we have to manage these challenges through the short term for the long term. Besides, India is not unique in terms of challenges; other markets too have them. The gas market has been very slow here because of availability issues. Emission standards are there and people have to meet those standards.

So does the emission issue become an opportunity? It does add to cost…

It is a constant balance. You have to have sustainability with affordability and accessibility. There are close to 250 million people in India who don’t have access to electricity. But the approach that India is taking is one of the most progressive. Adhering to emission standards does add to cost, as there is capital investment that needs to be put in place, making it more expensive in the short term. But I would say that is when you get into the policy on diversification. You have to have a combination of cleaner coal, plus renewable, plus over time, you are going to have more gas availability and that is how you balance it all and thus, emission is an opportunity.

Source: Mint; 16 May 2016


Coal imports decline 15% to 15.9 million tonnes in April: Anil Swarup

New Delhi: India’s coal imports fell by 15% to 15.9 million tonnes (mt) in April this year.

The imports stood at 18.7mt in the same month last year.

“Provisional coal import figures: Reduction from 18.7mt in April 2015 to 15.9mt in April 2016. In value terms, fromRs.8,942 crore to Rs.6,023 crore (32%),” coal secretary Anil Swarup tweeted.

He further said reduction in imports during last fiscal led to a saving of an estimated Rs.24,000 crore in foreign exchange.

The government had earlier said in view of the rising production of the dry fuel, India plans to completely stop thermal coal imports in two-three years that would result in an annual saving of Rs.40,000 crore.

However, coal and power minister Piyush Goyal is of the view that coking coal needs to be imported and his ministry was ready to tie up with shipping companies for this purpose.

Coal India Ltd (CIL) produced 37.5mt of the dry fuel in April as against the target of 37.6mt.

In 2015-16, CIL achieved a record production of 536mt, which was 42mt more than the previous fiscal. Its production grew 8.5% year-on-year. CIL was, however, eyeing a 550mt output. CIL’s output is fixed at 598mt for this fiscal.

Source: Mint; 14 May 2016


Dirty coal chokes Delhi as cleaner power facility in Bawana idles

New Delhi: About 25 kilometers (16 miles) northwest of Prime Minister Narendra Modi’s office in New Delhi, a $780 million gas-fired electricity plant that could reduce the choking pollution in India’s capital is operating at a fraction of its potential.

The 1,500 megawatt facility in Bawana ran at about a sixth of capacity on Monday, while a much older, belching coal plant some 15 kilometers southeast of central New Delhi provided the biggest share of the city’s power generation.

The dichotomy shows India is struggling to follow the US and Europe in giving natural gas a greater role for electricity production in place of coal power, which emits more of the tiny particles that damage air quality. The nation is awash with cheap supplies of the dirtier fuel after boosting output, hurting the competitiveness of gas despite a 33% slump in the commodity’s cost in the past year.

“There’s a lot of power available at lower prices,” said Sanjay Kumar Banga, head of power management at Tata Power Delhi Distribution Ltd., which purchases and sells electricity in New Delhi. Bawana is “hard to accommodate” among the lowest cost options, he said.

Below capacity

Gas accounts for 8% of India’s power generation capacity, versus 62% for coal. Yet gas plants used less than a quarter of their capacity of roughly 24,500 megawatts in the year ended March. That’s a sign of fizzling efforts to spur extraction of domestic gas reserves, as well as bottlenecks that inhibit imports.

Modi’s administration in March gave explorers pricing freedom for deep-sea fields. It remains to be seen whether this step will lead domestic companies such as Reliance Industries Ltd. to extract more of the fuel, or attract foreign players including Exxon Mobil Corp. and Chevron Corp.

In New Delhi, local officials have said they want to embrace gas. The challenge is getting cheap enough supplies to ensure distributors purchase the power.

India’s biggest gas transporter GAIL India Ltd. said it’s in talks with Pragati Power Corp., which operates Bawana, about supplying fuel to the facility. The plant could meet about a third of the mega-city’s power needs.

Gas price

Federal Oil Minister Dharmendra Pradhan said in April that GAIL can supply gas to Bawana at about $8 per million British thermal units. That would translate into a power tariff of roughly Rs5 per kilowatt hour — more than the average market clearing price on Tuesday of Rs2.

The annual pollution from the coal-fired plant in the capital is as great as 18 years of emissions from all the city’s vehicles, according to Pradhan.

New Delhi was the world’s most polluted city measured by airborne PM2.5, with an annual average of 153 micrograms per cubic meter, according to a 2014 World Health Organization database. The top four most polluted cities were in India. PM2.5 particles can penetrate deep into the lungs and enter the bloodstream.

Modi has targeted a record expansion of renewable electricity to curb emissions even as he prodded state-run Coal India Ltd. to mine more of the fuel to reduce blackouts. India is also in talks with liquefied natural gas supplying nations for long-term contracts.

The shift to clean power such as solar energy is a longer-term move. In the meantime, gas plants that could stabilize the electricity grid and reduce pollutants are idling.

One way to increase the role of gas is to force electricity distribution utilities to avert blackouts, and direct them to gas-fired power to achieve that goal, said Nitin Zamre, managing director of Indian operations at Fairfax, Virginia-based energy consultancy ICF International Inc.

“It’s difficult for gas to compete with coal in power generation without anyexternal push,” Zamre said.

Source: Mint; 10 May 2016


Compensatory tariffs continue to boost Adani Power earnings

Recognition of compensatory tariffs and the inclusion of Udupi power plant (acquisition completed in April 2015) boosted Adani Power Ltd’s performance in the March quarter. Consolidated revenue jumped 57% to Rs.7,344 crore from a year ago. Of this, Rs.1,375 crore or 18% of the revenue accrued from compensatory tariffs. During the year-ago quarter, the contribution of compensatory tariffs to total revenue was less than 9%.

These compensatory tariffs are disputed at regulatory forums. With the company standing a reasonable chance of getting favourable verdicts, it has recognized the revenue in the accounts. But the actual tariff orders can vary, upon which Adani Power will have to make adjustments to revenue again, which will further distort the numbers.

Nevertheless, the sales are better than the Street estimates. Even excluding the compensatory tariffs, revenue jumped 40% from a year ago. Five brokerage firms had forecast revenue to rise in the range of 21-34%. Earnings before interest, taxes, depreciation and amortization more than doubled and reported profit is up 64%. Sales in terms of volume are up 41%.

According to IndiaNivesh Securities Ltd, the firm’s utilization levels are likely to have expanded from 64.6% in the year-ago quarter to 78.4% now.

While the performance may likely please the Street, resolution of disputes regarding tariffs and power purchase agreements (PPAs) remain key. That will help build investors’ faith in the stock, which lost 29% in the past one year.

The current exercise of compensatory tariff recognition is driving up receivables. From Rs.3,489 crore a year ago, trade receivables at the consolidated level jumped to Rs.9,443 crore. Receivables now constitute 13.6% of the company’s assets. “Unlike Tata Power Co. Ltd, Adani Power is aggressive in recognizing compensatory tariffs, which is not healthy,” says an analyst with a domestic brokerage firm.

The worry is a portion of these receivables may have to be written off if the tariff orders fall short of the company’s estimates. Nevertheless, “with coal and gas availability problems behind, faster resolution of CT (compensatory tariffs), distribution sector reforms under UDAY (Ujwal Discom Assurance Yojna) aiding demand revival and subsequent bids for signing PPAs are some eagerly awaited developments, which should revive growth in the sector”, Edelweiss Securities Ltd said in an earnings preview note.

Source: Mint; 04 May 2016


State discoms raise Rs 99 lakh crore via UDAY Bonds in FY’16

Eight states have issued bonds worth over Rs 98,959.96 crore under UDAY Bonds scheme in 2015-16, which is aimed at improving operational and financial efficiency of state power distribution companies.

As part of the scheme, Reserve Bank had issued the special bonds (non-SLR special securities) on behalf of eight state governments in the last fiscal, RBI said.

The Power Ministry had launched UDAY (Ujwal DISCOM Assurance Yojana) on November 20, 2015. The scheme is expected to help discoms save around Rs 1.8 lakh crore in the next three years.

The cumulative debt of discoms is Rs 4.37 lakh crore. These securities have been issued by the state governments under the Government Securities Act, 2006 and are eligible for market repo, RBI added.

In March, RBI had invited market participants interested in subscribing to the special securities under UDAY through private placement route. However, in a report on state finances earlier this month, RBI said UDAY may have adverse implications for state finances on account of burgeoning liabilities.

This would considerably reduce the fiscal space of states which might lead to curtailment of capital expenditure with an adverse impact on growth, the report had said.

Furthermore, interest burden of states would inflate with immediate effect, destabilising fiscal outcomes and resulting in a deviation from fiscal consolidation path as well as the targets set by the 14th Finance Commission, it added.

With improvement in the financial health of state discoms, counter party risk for banks may also come down, it had said. The state-wise issuance of UDAY Bonds during 2015-16 is as: Uttar Pradesh (Rs 24,332.47 crore); Rajasthan (Rs 37,349.77 crore); Chhattisgarh (Rs 870.12 crore); Punjab (Rs 9,859.72 crore); Jammu & Kashmir (Rs 2,140 crore); Bihar (Rs 1,554.52 crore); Jharkhand (Rs 5,553.37 crore) and Haryana (Rs 17,300 crore).

Source: Business Today; 22 April 2016


Piyush Goyal says India will need ‘unparalleled’ $1 trillion in energy investments by 2030

India will need $250 billion in the next five to six years and $1 trillion by 2030, a scale of investment “unparalleled anywhere in the world,” to fuel its race to provide energy for its people and help lift masses out of poverty, according to Piyush Goyal, the Minister for Coal, Power and New and Renewable Energy.

Goyal, who is on a mission to drum up investments in the energy sector, told reporters in New York on Thursday India will be the largest market for energy with its goal of quadrupling by 2030 the current consumption of 1,050 units per person. Savvy investors will see the opportunities India has to offer them in the energy as the United States, Europe and Japan are seeing an economic slowdown coupled with a lowering of demand because of greater efficiencies in consumption, he said.

Prime Minister Narendra Modi has set a goal of having 175 gigawatts (GW) of renewable energy by 2022, of which 100 GW is to come from solar, Goyal said. India has made strides towards achieving that target and 21 GW of solar energy is to come on line over the next seven to eight months, he said.

He said that he had met investors in Britain and visited the London Stock Exchange to showcase the investment opportunities and was to hold discussions with investors here.

While India sought investments in all energy spheres, its quest for energy efficiency – and through it cleaner environment and carbon emission reduction goals – opened up other areas, he said. As an example, he cited the program to replace the 20 million agricultural pumps, many of them run on diesel, with more efficient and less polluting models, which could save the equivalent of 70 billion units of electricity.

Besides solar energy, India was also developing hydropower, power generation using waste water and waste, and wind power Cutting off finance for coal plants will be counterproductive for the environment as coal will continue to play an important role in helping meet the United Nation’s Sustainable Development Goals (SDG) of providing billions of people around the world needing access to power, Goyal said.

Despite the massive investments in renewable energy, India will also depend on coal especially for baseline needs to ensure power availability when other sources become unavailable, Goyal said.

If financing for newer plants are not available, developing countries will continue to run the old, inefficient and polluting power plants instead of upgrading to modern power generation plants that use use coal efficiently and cleanly, he said.

The World Bank and others providing development assistance to developing countries have announced policies that would stop funding coal and other fossil fuel-based electricity plants.

India was working with a university in Australia on clean coal projects, he said. New Delhi planned to collaborate with the Massachusetts Institute of Technology on research on clean coal, he adde.

Goyal said that India was taking a leading role globally in helping spread solar technology among developing countries through the International Solar Alliance it is spearheading with France.

Many of the developing countries have not yet been able to take advantage of their solar bounties because they lack the technologies and financing, Goyal said. With its advances in harnessing solar power, India was in a position to help them overcome these hurdles and for this had set up with France the International Solar Alliance, he added.

In January, French President Francois Hollande and Modi laid the foundation stone for the ISA headquarters at Gurgaon. About 120 countries are participating in it.

On Friday, Goyal and French Environment and Energy Minister Segolene Royale will be hosting a high-level meeting on the ISA on the sidelines of the signing ceremony for the Paris Climate Change agreement.

Source: Business Today; 22 April 2016


Wind turbine maker Gamesa India gets 40MW order from ReNew Power

Mumbai: Wind turbine manufacturer Gamesa India has bagged a contract from ReNew Power for supply of 20 custom-made G97 turbines of two megawatts (MW) each for a project in Karnataka.

“Gamesa India has entered into an agreement with ReNew Power for a 40MW turnkey order consisting of 20 units of former’s custom-made G97-2MW class S with tower height of 104m that will be commissioned in Ron district in Karnataka,” the company said in a statement issued on Tuesday.

According to the contract, Gamesa will develop the entire infrastructure needed to operate the project, including supply, erection and commissioning of 20 units of wind turbines which are the custom-designed for tapping low wind sites in the country. Gamesa has also entered into a long-term operations and maintenance agreement to ensure smooth functioning of the wind farm.

The project will be commissioned by September this year. “We are well placed to cater to the growing demand for renewable energy and we are confident that orders like this will help reinstate our commitment towards meeting renewable energy goals set by the government,” Gamesa India chairman and managing director Ramesh Kymal said.

Gamesa has already commissioned over 140MW of wind projects for ReNew Power across Maharashtra and Karnataka and this order will be the fourth order from ReNew Power.

ReNew Power chairman and chief executive officer Sumant Sinha said, “New technological improvements in wind energy design have contributed to the noteworthy advances in wind energy penetration. We have placed our fourth order with Gamesa because of their ability to harness the maximum wind with their cutting edge technology.”

Source: Mint; 19 April 2016