OUTLOOK FOR THE INDIAN RE MARKET BY 2022

OUTLOOK FOR THE INDIAN RE MARKET BY 2022

Multiple factors are going to shape the Indian RE market going forward. Wind industry faced headwinds in the past and all stakeholders are now working towards reviving the industry. Hopefully, with newer technology and contractual structures coming in place, we will see increased interest in wind and hybrid projects. Indian grid has morning and evening peaks and if competitive tariffs can be discovered for peaking power to begin with and subsequently going on to round the clock tariff competitiveness, it will solve the intermittency and grid balancing issues. Going forward, we might see the emergence of technology agnostic tenders seeking the most competitive firm renewable power.I think, on an overall basis, tenders would move to a higher degree of complexity compared to the plain vanilla tenders being issued today. However, from a technology standpoint, the sector has the answers to solve for the higher complexity. A policy framework, that evolves along with the requirements of the sector and is based on industry consultation, would hold the key to the growth of the sector upto 2022 and beyond.

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