Industries

Renewable Energy

With a rapidly growing population and increasing energy demand, India faces significant challenges in meeting its power needs while minimizing environmental impact. Embracing renewable energy sources, such as solar, wind, hydroelectric power, and hydrogen power, is crucial for reducing the country’s dependence on fossil fuels. According to Lawrence Berkeley National Laboratory, India has reached the world’s lowest renewable energy prices, which can propel India towards energy independence by 2047. As India works to achieve its renewable energy targets, the transition to clean energy not only addresses environmental concerns but also fosters economic development, job creation, and technological innovation.

Solar

With at least 300 sunny days per year in many parts of the country, India can take advantage of harnessing solar power. In 2022, India installed 10 GW of new solar capacity. Most of the renewable energy in India comes from large solar farms in the Northern deserts in Rajasthan and Gujarat. Rajasthan houses Bhadla Solar Park, the second largest solar plant in the world. This park produces enough electricity to power 4.5 million homes. 

Wind

The wind power in India has been on an upward trajectory. In 2023, India’s wind power capacity reached 43 GW. India is now 4th in installed global wind capacity. 

Gujarat has 24% of the installed wind capacity of India, followed closely by Tamil Nadu, as of 2023. Muppandal Wind Farm is located at the southern tip of India in Tamil Nadu. It is India’s largest wind farm, with a capacity of 1500 Megawatts, making it one of the top 5 onshore wind farms in the world. India is also starting to explore offshore wind farms, to take advantage of their thousands of miles of coastline. 

Hydroelectric

India is the world’s sixth largest producer of hydroelectric power. In 2023, India’s generation of hydroelectricity reached 162 TeraWatt Hours. The public sector accounts for 92.5% of India’s hydroelectric power production.

Hydrogen

Green hydrogen is produced through the electrolysis of water. Unlike gray hydrogen production, which typically involves the combustion of carbon, green hydrogen production creates no harmful greenhouse gas emissions. The Indian government launched the National Green Hydrogen Mission in early 2022, with the aim of increasing green hydrogen production and consumption. Industry giants like Reliance Industries and Indian Oil have announced plans to set up a cumulative annual green hydrogen manufacturing capacity of 3.5 million metric tons. 

India is in a unique position, as the country’s demand for energy is growing, and the majority of India’s energy infrastructure is yet to be created. The efforts towards embracing renewable energy sources, including solar, wind, hydroelectric power, and green hydrogen, signify a shift away from fossil fuels. As India aims for energy independence by 2047, and for net-zero emissions by 2070, the transition to clean energy not only mitigates environmental concerns but also fuels economic development.

Key Issues

Key Market Drivers

A number of market drivers are spurring the development of clean energy markets in India. These include:

•    Existing and projected gaps in the electricity supply

•    Increasing fuel importation to augment the electricity supply, thereby increasing dependence on imported resources

•    Expanded financial support for renewable energy and energy efficiency from local and international financial institutions, multilateral agencies, donor organizations, and others

•    Growing carbon credit markets, including the Clean Development Mechanism (CDM) and voluntary markets

•    Existence of local capacities/capabilities to harness the clean energy sector and relatively inexpensive local labor supplies

•    Growing environmental, social, and health concerns over fossil fuel development

At present, India is the fourth largest greenhouse gas emitter in the world. It is also a major emitter of methane and nitrous oxide, and has exceeded its national ambient air quality standards in eight major cities.

Our Services

Amritt’s go-to-market service for India helps with developing and executing roadmaps to expand your presence:

•    Feasibility Studies & Financial Analysis
•    Facilitating investment and financing processes for renewable energy projects
•    Intellectual property and patent licensing
•    Foreign Direct Investment policy compliance
•    Negotiation with Indian counterparts
•    Attracting and retaining top engineer and business development talent
•    Avoiding cultural gaffes

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