India has crossed 70 GW of solar and wind installed capacity and the RE sector has a fairly robust and mature framework in place for carrying the growth momentum forward. However, the dynamics of the sector keep evolving. For instance, green bonds are becoming a preferred financing option and have shown strong growth globally, with India becoming the second largest market for green bonds. Similarly, there is a sustained push to integrate renewable energy with storage systems. O2 Power’s investors have a deep understanding of infrastructure sector globally. By virtue of their credibility and their relationships with OEMs and financial institutions, the platform will be able to bring a set of strong core competencies to India. The Management team also brings a holistic and proven set of capabilities for constructing and operating solar and wind projects in the country. Given this, I believe O2 Power will be able to contribute very constructively to the growth of renewable energy sector in India.
O2 Power aspires to be among the leading renewable energy producers in India. With an initial capital commitment of $ 500 Million, we can set up a capacity of 4 GW. We are technology agnostic and will set up both solar and wind assets. We intend to build self-EPC capabilities in both solar and wind as we see this capability as a key differentiator. Additionally, we will focus on the fast-emerging areas of solar-wind hybrid, storage integration as well as floating solar technology. Regulatory and policy certainty is important for us and so we will currently focus on central tenders and a few state specific tenders.