Ratul Puri, Chairman of Hindustan Powerprojects, tells Anilesh S Mahajan why renewable energy is key to India’s overall growth story.
Q. How will the increase in renewable energy capacity help India?
A. The construction and development life cycle of a thermal project is five to 10 years. Since 2012, no new thermal project has taken off. As a result, between 2017 and 2022, increase in thermal power will be minimal. During the period, India’s GDP is expected to be above 8 per cent and availability of power would play a critical role in the growth story. Therefore, the Centre’s target of adding 175 GW of renewable energy will be a game changer.
Q. What motivated you to venture into the power sector ?
A. In 2008, I felt India has to ramp up its power generation capacity if it has to fulfil its aspirations of being a developed country. The Indian power sector is very demanding and this challenge got me attracted to the sector.
Q. Is the governments integrated approach towards the power sector, helping the power business?
A. India needs an energy mix to live up to the 24X7-power-to-all goals. As a result, 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. With the government’s support, these sources of energy can achieve grid parity in the next few years. India will need seven to 10 big players to achieve its target. The government has addressed a lot of issues to etch out a viable solution.
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