India has an installed power generation capacity of 225,133MW, of which about 12.2% is fuelled by renewable resources such as wind, sun, biomass and hydro. Experts believe the future of renewables is robust.
As per a report submitted by the International Energy Agency, renewables sector, despite no-so-encouraging economic conditions, is witnessing incredible growth; in fact, the sector is expected to grow by 40% in the next five years, thereby, constituting almost a quarter of the global power mix by 2018.”
Government of India is also considering re-introduction of tax and fiscal incentives to provide relief to the renewable sector, which includes wind power companies and solar power companies. The withdrawal of both the benefits had severely hit the sector.
The reinstatement of these benefits will boost the confidence of the industry players – both equipment makers and power producers - to set-up more wind farms, solar power projects, and, thereby, add to the power generation capacity of the country. At the time when India is going through a deep energy-crisis, renewables can open new doors for the country and its energy-intensive industries.
However, funding is still a concern for many. Only a few private companies have dared to enter the sector on their own. Puneet Dalmia led Dalmia Power is one of the first ones, who’ve set-up both wind farms and solar projects to not only meet their energy requirements, but also to support the state grid.
As per a report submitted by the International Energy Agency, renewables sector, despite no-so-encouraging economic conditions, is witnessing incredible growth; in fact, the sector is expected to grow by 40% in the next five years, thereby, constituting almost a quarter of the global power mix by 2018.”
Government of India is also considering re-introduction of tax and fiscal incentives to provide relief to the renewable sector, which includes wind power companies and solar power companies. The withdrawal of both the benefits had severely hit the sector.
The reinstatement of these benefits will boost the confidence of the industry players – both equipment makers and power producers - to set-up more wind farms, solar power projects, and, thereby, add to the power generation capacity of the country. At the time when India is going through a deep energy-crisis, renewables can open new doors for the country and its energy-intensive industries.
However, funding is still a concern for many. Only a few private companies have dared to enter the sector on their own. Puneet Dalmia led Dalmia Power is one of the first ones, who’ve set-up both wind farms and solar projects to not only meet their energy requirements, but also to support the state grid.
