Green Energy Is Key To Indias Overall Growth Story – Ratul Puri

Chairman of Hindustan Powerprojects, Ratul Puri speaks to Anilesh S Mahajan on the importance of renewable energy in the overall story of the Indian economy.

Q. Strengthening Of Indian Economy Is Instructed By Renewable Energy But How Will It Help India For The Future?

A. The construction and development life cycle of a thermal project is five to ten years. After 2012, no new thermal project has commenced. Consequently, there will be an increase in the backlog of thermal power projects between the years of 2017 to 2022. During this timeframe, the economy of India is estimated to grow above eight percent and supply of sufficient electricity will greatly contribute to the Indian economy. So the target of the Centre for adding 175 GW of renewable energy sources will change the rules of the game.

Q. As A Young Man When I Look Back I Thought What Got You Excited To Enter The Power Sector ?

A. In the year 2008, I thought for India to realize its plans of becoming a developed nation it needs to increase its electricity generation capacity. India is a country which has great potential in terms of the electricity market but it also comes with a set of challenges which is why I found the sector interesting.

Q. Is The Government’s Integrated Approach Towards The Power Sector, Helping The Power Business?

A. Yes, it is possible to attain 24×7 energy access to all of the citizens, but for that, India will need an energy mix. Consequently, renewable energy has become increasingly cost competitive, as solar and wind energy tariffs are now Rs 5.0 to Rs 6.75 per kWh, which is only 15-20 per cent higher than that of thermal power. The government will promote them so that these sources of energy reach grid parity in a few years. To meet the intended purpose, 7 to 10 big players are going to be required in India. The aims of the government’s numerous initiatives have been to tackle several of such problems in order to come out with a workable solution to the problem.

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