The Renewable Energy Sector is Growing in India and How?

Giving priority to green energy solutions and promotion of policies that are supportive of renewable energy are augmenting India’s plan to develop a more efficient clean energy mix. Renewable energy for business is a promising investment. SEBI Chief’s recent announcement regarding enhancing some of its ESG rules and codes to be in tune with global investing & regulatory practices is a strong step in this direction.

As part of its commitment to the UN Framework Convention on Climate Change adopted by 195 countries in Paris in 2015, India plans to reduce its carbon footprint by 33-35% of its 2005 levels by 2030 along with having 40% of its total installed power generation capacity from renewables by 2030.

India has tremendous potential for renewable energy solutions and if the resources are utilized to their optimum capacity, India has the capability to produce more than 1,000 GW of renewable energy. Increased availability of renewable energy will not only reduce the emissions intensity of the power sector but also significantly improve energy access and energy security in the country. Decentralized renewable energy can decrease the reliance on grid-distributed electricity and can be of extreme benefit, especially in areas where the supply of grid-based electricity is largely unreliable.

The growing share of solar power solutions and wind power in recent years has accelerated India’s efforts to move towards its target of reducing greenhouse gas emissions and limiting the disastrous effects of climate change. Strong government support and the increasingly favorable economic incentives have propelled India to be one of the top players in the world’s most attractive renewable energy markets. According to the latest data published by the Government, India has reached 38.5% of its installed power capacity from non-fossil fuels and this will go up to 66% by 2030 along with reducing its emissions by 28%.

India’s successful journey of moving towards renewable energy could be a gamechanger for its own growth, as well as set a notable example for global efforts to tackle climate change. Bhadla Solar Park, one of the largest in the world, is the perfect example of how innovation, technology, and public and private finance can drive considerable change for the betterment of the planet.

Altilium can be the one-stop solution for the companies having the intent to go green, reduce their carbon footprint while wanting to reduce their power cost of operations. Being the integrated power player in the industry, Altilium believes in proposing customizable, well-researched, insightful, implementable energy cost optimization solutions rather than a “one-size fits all” advisory.

With an overall team experience of 45 years in the Indian power sector, our array of services includes bespoke Electricity Regulatory advisory, energy portfolio management, Renewable Energy offtake & trade, open access services, Renewable Energy Projects management, to name a few. Being one of the leading CERC (Central Electricity Regulatory Commission) approved power trading companies in India, Altilium is managing trade volume of 5 Mus (million units) every quarter for its clients PAN India through spot market transactions and other open access modes (short-term/medium-term power supply). Let’s explore together! Do connect with us at hello@altilium.co.in