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Renewable Energy Sector Report - February 2018

Renewable Energy Sector Report - February 2018

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For updated information, please visit www.ibef.org February 2018
RENEWABLE ENERGY
Table of Content
Executive Summary……………….….…….3
Advantage India…………………..….……..4
Market Overview and Trends……….……..6
Porter’s Five Forces Analysis…………..…13
Strategies Adopted………….……..………14
Growth Drivers …………………...…..……16
Case Studies………...……………...……...25
Opportunities….……………..……………..21
Industry Associations……….......…………30
Useful Information……….......…………….32
For updated information, please visit www.ibef.orgRenewable Energy3
 As a part of its Paris Agreement commitments, the Government of India has set an ambitious target of
achieving 175 GW of renewable energy capacity by 2022. With this the market players in India now have
enough incentive to move to clean sources of energy.
 60 solar cities will be developed in India as part of Ministry of New and Renewable Energy’s Solar Cities
program.
EXECUTIVE SUMMARY
Ambitious Targets
 India has very low conventional energy resources compared to the required energy needs of its huge
population and rapidly increasing economy. But India can harness the huge potential of solar energy as it
receives sunshine most of the year. It also has vast potential in hydro power sector which is being explored in
the north-eastern states of the country.
 India added record 11.0 GW of combined wind and solar capacity in 2016-17. It is expected that India will
overachieve its Paris Agreement goals.
 Renewable sources are expected to help meet 40 per cent of India’s power needs by 2030.
Immense Growth
Potential
 The competition in the sector has risen recently, especially in the solar power segment, where tariffs reached
record low in May 2017. The large integrated players are in a better position with higher returns compared to
the smaller contractors.Competition
Source: EY, Central Electricity Authority, MNRE, DIPP, Livemint
 The renewable energy space in India has become very attractive from investors’ perspective and has received
FDI inflow of more than US$ 6.26 billion up to December 2017. India has also ranked second in the Renewable
Energy Attractiveness Index 2017 as there is ample push from the government and the economics of the market
is improving.
Increasing Investments
Renewable Energy
ADVANTAGE INDIA
For updated information, please visit www.ibef.orgRenewable Energy5
ADVANTAGE INDIA
 India has relatively low per capita energy
and electricity consumption . It was one-
third of the world average in 2015-16.
 As the economy grows the electricity
consumption is projected to reach 15,280
TWh in 2040 from the 4926 TWh in 2012.
Most of this demand would come from the
growth in the buildings, industry and
transport sectors.
 Non-conventional energy received FDI
inflow of US$ 6.26 billion between April
2000 and December 2017.
 With government’s ambitious green
energy targets, the sector has become
quite attractive for both foreign and
domestic investors.
 India receives about 300 days of sunshine
in an year. This makes it a perfect
candidate to harness the solar power
available. India also has a large hydro
power potential which is being explored in
the north-eastern states of the country.
 Coupled with regular solar auctions and
new government mega projects like solar
parks, the setup and financing costs have
come down significantly in the past two
years.
 Indian government aims to achieve 175 GW
of renewable energy by 2022.
 Because of the immense support from
government ,India has ranked 2nd in the
‘Renewable Energy Country Attractiveness
Index 2017’.
 The aim of the government to electrify all
villages by 2018, also a boon for the power
sector. India also had highest ever
capacity addition in renewable energy in
2016-17.
ADVANTAGE
INDIA
Source: Central Electricity Authority, Ministry of New and Renewable Energy
Note: TWh – Terwatt Hour
Renewable Energy
MARKET OVERVIEW
AND TRENDS

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Renewable Energy Sector Report - February 2018

  • 1. For updated information, please visit www.ibef.org February 2018 RENEWABLE ENERGY
  • 2. Table of Content Executive Summary……………….….…….3 Advantage India…………………..….……..4 Market Overview and Trends……….……..6 Porter’s Five Forces Analysis…………..…13 Strategies Adopted………….……..………14 Growth Drivers …………………...…..……16 Case Studies………...……………...……...25 Opportunities….……………..……………..21 Industry Associations……….......…………30 Useful Information……….......…………….32
  • 3. For updated information, please visit www.ibef.orgRenewable Energy3  As a part of its Paris Agreement commitments, the Government of India has set an ambitious target of achieving 175 GW of renewable energy capacity by 2022. With this the market players in India now have enough incentive to move to clean sources of energy.  60 solar cities will be developed in India as part of Ministry of New and Renewable Energy’s Solar Cities program. EXECUTIVE SUMMARY Ambitious Targets  India has very low conventional energy resources compared to the required energy needs of its huge population and rapidly increasing economy. But India can harness the huge potential of solar energy as it receives sunshine most of the year. It also has vast potential in hydro power sector which is being explored in the north-eastern states of the country.  India added record 11.0 GW of combined wind and solar capacity in 2016-17. It is expected that India will overachieve its Paris Agreement goals.  Renewable sources are expected to help meet 40 per cent of India’s power needs by 2030. Immense Growth Potential  The competition in the sector has risen recently, especially in the solar power segment, where tariffs reached record low in May 2017. The large integrated players are in a better position with higher returns compared to the smaller contractors.Competition Source: EY, Central Electricity Authority, MNRE, DIPP, Livemint  The renewable energy space in India has become very attractive from investors’ perspective and has received FDI inflow of more than US$ 6.26 billion up to December 2017. India has also ranked second in the Renewable Energy Attractiveness Index 2017 as there is ample push from the government and the economics of the market is improving. Increasing Investments
  • 5. For updated information, please visit www.ibef.orgRenewable Energy5 ADVANTAGE INDIA  India has relatively low per capita energy and electricity consumption . It was one- third of the world average in 2015-16.  As the economy grows the electricity consumption is projected to reach 15,280 TWh in 2040 from the 4926 TWh in 2012. Most of this demand would come from the growth in the buildings, industry and transport sectors.  Non-conventional energy received FDI inflow of US$ 6.26 billion between April 2000 and December 2017.  With government’s ambitious green energy targets, the sector has become quite attractive for both foreign and domestic investors.  India receives about 300 days of sunshine in an year. This makes it a perfect candidate to harness the solar power available. India also has a large hydro power potential which is being explored in the north-eastern states of the country.  Coupled with regular solar auctions and new government mega projects like solar parks, the setup and financing costs have come down significantly in the past two years.  Indian government aims to achieve 175 GW of renewable energy by 2022.  Because of the immense support from government ,India has ranked 2nd in the ‘Renewable Energy Country Attractiveness Index 2017’.  The aim of the government to electrify all villages by 2018, also a boon for the power sector. India also had highest ever capacity addition in renewable energy in 2016-17. ADVANTAGE INDIA Source: Central Electricity Authority, Ministry of New and Renewable Energy Note: TWh – Terwatt Hour
  • 7. For updated information, please visit www.ibef.orgRenewable Energy7 Renewable Energy Sources Renewable Energy Sources (RES) Other forms of renewable energy Hydro Energy Solar Power Small Hydro Power (Projects ≤ 25 MW) Wind Power Bio-Power Urban & Industrial Waste Power Biomass Power Source: Central Electricity Authority (CEA)
  • 8. For updated information, please visit www.ibef.orgRenewable Energy8 RES WITH SHARES IN INSTALLED CAPACITY … (1/2) Source: CEA, International Renewable Energy Agency (IRENA) Visakhapatnam port traffic (million tonnes)Installed capacity for different RES – FY18* (GW) Notes: RES – Renewable Energy Source; GW – Gigawatt; FY18*- Data up to January 2018, 1Large Hydro power projects not included in renewable energy targets of GOI  India accounts for approximately 4 per cent of the total global electricity generation and contributes 4.43 per cent to the global renewable generation capacity.  The International Energy Agency’s World Energy Outlook projects a growth of renewable energy supply to 4,550 GW in 2040 on a global basis.  As of January 2018, total renewable1 power generation installed capacity in the country stood at 107.81 GW, which is 32.24 per cent of the total installed capacity.  A hydro power revival policy is underway which amongst others is likely to include the classification of all hydro power projects as renewable energy 44.96 32.85 17.05 8.53 4.42 0.00 5.00 10.00 15.00 20.00 25.00 30.00 35.00 40.00 45.00 50.00 Hydro Wind Solar PV Bio-Power Small Hydro
  • 9. For updated information, please visit www.ibef.orgRenewable Energy9 GENERATION CAPACITY HAS INCREASED AT A HEALTHY PACE … (1/2) 42.4 47.0 50.1 52.4 56.0 63.5 67.0 70.0 77.0 85.7 101.7 107.8 0 20 40 60 80 100 120 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 *FY18 Source: CEA, makeinindia Note: RES – Renewable Energy Source; GW - Gigawatt, CAGR - Compound Annual Growth Rate; FY18* - data up to January 2018, Large Hydro power projects not included in renewable energy targets of GOI  Installed renewable power generation capacity has increased steadily over the years, posting a CAGR of 8.39 per cent in FY07– 17.  India has the fourth largest installed capacity of wind power and the third largest installed capacity of concentrated solar power (CSP)  The Government of India has formulated an action plan to achieve a total capacity of 60 GW from hydro power and 175 GW from other RES (excluding large hydro projects) by March, 2022, which includes 100 GW of Solar power, 60 GW from wind power, 10 GW from biomass power and 5 GW from small hydro power  Solar installation in India is expected to increase 360 per cent by 2020.  India witnessed highest ever solar power capacity addition of 5,525.98 MW and 467.11 MW of wind power capacity addition in 2017-181. 15,000 biogas plants were installed during the same time period.  About 4.96 million household size biogas plants have been installed in India since the inception of National Biogas and Manure Management Programme (NBMMP). Visakhapatnam port traffic (million tonnes)Installed capacity for different RES (GW) CAGR 8.39%
  • 10. For updated information, please visit www.ibef.orgRenewable Energy10 GENERATION CAPACITY HAS INCREASED AT A HEALTHY PACE … (2/2) 35 39 44 60 72 8 25 57 175 275 0 50 100 150 200 250 300 350 400 End of 10th Year Plan End of 11th Year Plan End of 12th Year Plan FY22 F FY27 F Hydro Other RES Source: :CEA, India Solar Handbook 2017 Note: RES – Renewable Energy Source; GW - Gigawatt, CAGR - Compound Annual Growth Rate;  Among the different sources of renewable power in India, the CAGR in installed capacity over FY07–FY17 was • 2.32 per cent for hydro power • 20.12 per cent for other renewable energy sources, supported by the commencement of solar capacity addition since 2012  The Government of India is projecting a rapid 17.04 per cent CAGR increase in other RES installed capacity to 275 GW by 2027 supported by a surge in solar power capacity addition.  Off-grid power equivalent to 168.87 MW was added in the country during January – November 2017.  Record capacity renewable projects are expected to be offered by the government by the end of 2017-18, exceeding a combined capacity of 10,000 MW.  Under Union Budget 2018-19, Rs 3,762 crore (US$ 581.09 million) has been allocated for grid-interactive renewable energy schemes and projects which includes Rs 2,045 crore (US$ 315.88 million) for solar power.  Green energy corridors project has been allocated Rs 600 crore (US$ 92.68 million) under Union Budget 2018-19. Visakhapatnam port traffic (million tonnes)Comparison of installed capacity (GW)
  • 11. For updated information, please visit www.ibef.orgRenewable Energy11 SOLAR POWER GENERATION GROWTH LIKELY TO OUTWEIGH OTHER SOURCES BY 2022 … (1/2) 32.7 14.8 8.3 4.4 Expected change in share of various RES from FY18* to FY22 (GW)  Growth in solar power installed capacity is expected to surpass the installed capacity of wind power, reaching 100 GW by 2022 from its current levels of 17.05 GW as of January 2018.  Three new solar parks have been approved in 2017-18 with a total capacity of 1,523 MW.  Rapidly falling costs has made Solar PV the largest market for new investment.  Further, the scaling up of the target of National Solar Mission to 100 GW from 20 GW of grid connected solar power by 2022, creates a positive environment for investors keen to tap into India’s renewable energy potential.  In November 2017, Government of India signed a US$ 100 million agreement with the World Bank for ‘Shared Infrastructure for Solar Parks Project’.  As of November 2017, Government of India is also planning ‘Rent a Roof’ policy to push adoption of solar energy while giving the households a chance to become energy independent. Source: CEA, makeinindia, India Solar Handbook 2017 60.00 100.00 10.005.00 Wind Solar PV Biomass Small Hydro Note: RES – Renewable Energy Source; GW - Gigawatt, CAGR - Compound Annual Growth Rate; FY18* - data up to July 2017; * - According to the India Solar Handbook 2017 released by Bridge to India (BTI),
  • 12. For updated information, please visit www.ibef.orgRenewable Energy12 SOLAR POWER GENERATION GROWTH LIKELY TO OUTWEIGH OTHER SOURCES BY 2022 … (1/2)  Due to its favourable location in the solar belt (400 S to 400 N), India is one of the best recipients of solar energy with relatively abundant availability  India has a vast potential for solar power generation with about 58 per cent of the total land area (1.89 million km2) receiving above 5 kWh/m2/day annual average global insolation  This coupled with its highest global warming mitigation potential makes it a viable alternative for power generation among the available clean energy sources.  Under Union Budget 2018-19, zero import duty on components used in making solar panel was announced to give a boost to domestic solar panel manufacturers. Source: CEA, Solargis
  • 13. For updated information, please visit www.ibef.orgRenewable Energy13 PORTER’S FIVE FORCES FRAMEWORK ANALYSIS  Medium – Bargaining power of suppliers is medium as it is a relatively niche sector and the suppliers are therefore limited, so they enjoy some bargaining power. But the power is not too high as the order value is too high. Bargaining Power of Suppliers  High – Threat of substitutes is going to remain high as long as other non- renewable sources of energy remain cost-effective. Threat of Substitutes  Low – As the sector is relatively new and players are still establishing themselves in the industry; the sector has still not reached the stage of competition. Therefore competitive rivalry is quite low. Competitive Rivalry  Low – Threat of new entrants is low as the cost of generating renewable energy is very high; for example: the cost of setting up a wind mill or a solar panel etc; which makes entry of new players highly difficult. Threat of New Entrants  High – Bargaining power of buyers is high as the cost of switching to a non-renewable energy source is low, and customers will easily switch if they find another cheaper source of energy. Bargaining Power of Buyers Positive Impact Neutral Impact Negative Impact
  • 15. For updated information, please visit www.ibef.orgRenewable Energy15 STRATEGIES ADOPTED Source: Company websites, Livemint  Suzlon, a key player in the wind power segment, is a vertically integrated company. It has been producing all the wind turbines and installing them coupled with the maintenance. It has service support centres across the globe.  Adani Power also aims to become the a fully-integrated solar PV manufacturer.  The returns of fully integrated players exceed those of Engineering, Procurement and Construction (EPC) contractors. Full Integration PPA & Lower Tariffs  With the increasing competition and increasing FDI, players in the solar sector have started bidding at lower prices with solar tariffs reaching record low of Rs 2.44 (US$ 0.04) per unit in May 2017. Power Purchase Agreements with states have become important part of the project cycle for Indian companies. Wind power tariff reached record low of Rs 2.43 (US$ 0.038) in 500 mw reverse auctions by Gujarat Urja Vikas Nigam Limited (GUVNL) in December 2017. Decentralised Solar Power  Electricity to all has become a major thrust area for Government of India. This includes households and villages and slums which are not currently a part of the grid or centralised distribution. Selco Solar Pvt Ltd started installing solar panels in slums which were not connected to the grid as a pilot project in 2008 and has since expanded into other states as well. They have also used standardized financial packages to get the slum people move from kerosene to solar power.
  • 17. For updated information, please visit www.ibef.orgRenewable Energy17 GOVERNMENT POLICIES  Promotes deployment of Offshore Wind Farms up to 12 nautical miles from coast. Research and Development activities to take place up to Exclusive Economic Zone (EEZ) of 200 nautical miles.  Under the policy single window clearance is offered.  Tax holiday of 10 years for offshore wind energy generation. National Offshore Wind Energy Policy, 2015  Promotes optimum utilisation of wind energy resources by creating facilitative framework for repowering.  An interest rebate of 0.25 per cent over the interest rebate offered to new wind energy projects will be provided.  All fiscal and financial benefits offered to new wind power projects will be extended to repowering projects Repowering Policy  Aims to achieve a hybrid wind-solar capacity of 10GW by 2022.  Hybridization of the two technologies will help in: • Minimizing Variability • Optimal utilization of infrastructure including land and transmission systems Wind-Solar Hybrid Policy Source : Ministry of New and Renewable Energy (MNRE), News Articles Note : GW - Gigawatt  RPO’s are a mechanism by which State Electricity commissions are obliged to purchase certain percentage of power from renewable energy sources.  Also, floor prices of the RPO have been set to provide certainty to companies. The floor price has been set at US$ 144 per Megawatt. Renewable Purchase Obligations (RPO’s)  Aims to set up 25 Solar Parks and Ultra Mega Solar Power Projects targeting 20,000MW of solar power installed capacity by 2019-20..  US 83.78 million have already been sanctioned under the scheme.  As of November 2017, the Ministry of New and Renewable Energy is conceptualising world’s biggest solar tender and will invite bids for setting up of 20 GW of solar capacity. Scheme for Development of Solar Parks and Ultra Mega Solar Power Projects
  • 18. For updated information, please visit www.ibef.orgRenewable Energy18 INCREASING INVESTMENTS: FDI INFLOWS AND KEY DEALS … (1/2) Source: Make in India Notes: FDI - Foreign Direct Investment, Pvt. Ltd. – Private Limited Company  100 per cent FDI is allowed under automatic route for projects of renewable power generation and distribution subject to provisions of The Electricity Act, 2003.  The non-conventional energy sector has received a total FDI equity inflow of US$ 6.26 billion during April 2000 to December 2017. Foreign Collaborator Country Indian Company FDI Equity Inflow (US$ mn) Mudajaya Group Berhad Malaysia RKM Powergen Pvt. Ltd. 77.18 Gamesa Eolica S L Spain GAMESA Wind Turbines Pvt. Ltd. 66.76 AIRRO (Mauritius) Holdings Mauritius DILIGENT Power Pvt. Ltd. 62.44 Greenko Mauritius Mauritius M/s Greenko Energies Pvt. Ltd. 59.52 Azure Power Corporation Mauritius AZURE Power India Pvt. Ltd. 54.11 ORIX Corporation Japan TADAS Wind Energy Pvt. Ltd. 53.23 OSTRO Renewal Power Ltd. Mauritius OSTRO Energy Pvt. Ltd. 45.81 Major FDI Investments in Renewable Energy Sector
  • 19. For updated information, please visit www.ibef.orgRenewable Energy19 INCREASING INVESTMENTS: FDI INFLOWS AND KEY DEALS … (2/2) Foreign Collaborator Country Indian Company FDI Equity Inflow (US$ mn) Asian Development Bank Phillipines Renew Power Ventures Pvt. Ltd. 44.69 AIRRO Singapore Pte Ltd Singapore Diligent Power Pvt. Ltd. 41.07 ORIX Corporation Japan Lalpur Wind Energy Pvt. Ltd. 37.75 ENEL Green Power Development B.V. Netherlands BLP Energy Pvt. Ltd. 32.61 DEG-DEUTSCHE-InvestitionsUnd- Entwicklun Germany WELSPUN Renewables Energy Pvt Ltd 32.50 ENERK International Holdings Ltd Seychelles RKM POWERGEN Pvt Ltd 32.50 OSTRO Renewal Power Limited Mauritius OSTRO Energy Pvt Ltd 32.21 AREVA Solar Inc U.S.A AREVA Solar India Pvt Ltd 31.53 Source: Make in India Notes: FDI - Foreign Direct Investment, Pvt. Ltd. – Private Limited Company Major FDI Investments in Renewable Energy Sector
  • 20. For updated information, please visit www.ibef.orgRenewable Energy20 GOVERNMENT INITIATIVES  Targets deployment of 100 GW of solar power by 2022.  Various incentives are being offered under the scheme: • Zero import duty on capital equipment, raw materials • Low interest rates and Priority Sector Lending • Single window mechanism for all related permissions • Tax exemption and capital subsidies available  Project for evacuation of renewable energy from generation points to the load centres by creating intra-state and inter-state transmission infrastructure.  India received a US$ 1.15 billion soft loan from German development bank KfW for implementation of green corridors project. 40 per cent of Intra state and 70 per cent of inter state transmission schemes will be funded through the soft loan.  Scheme for setting up 1000 MW Inter State Transmission Systems (ISTS) connecting wind power projects.  Projects of 50MW and above will be connected to ISTS point.  The scheme also provides for 25 years of PPA and PSA.  The first round of auction was completed in February 2017 and another round of auction was announced in May 2017.  Wind power projects with the capacity of 3 GW will be auctioned by FY18 end.  As of January 2017, there were about 100,000 people working in four major areas of renewable energy sector viz. Solar, Wind, Biomass and Small Hydro Power.  To meet the rising demand of trained manpower, a target of achieving 50,000 “SuryaMitras” of skilled manpower in solar enery sector by 2019-20 has been set. Budget 2017-18 - Ministry for New and Renewable Energy Allocation is US$ 849 .46 million Source : Ministry of New and Renewable Energy (MNRE), Make in India, News Articles Notes : GW – Gigawatt, MW – Megawatt, PPA – Power Purchase Agreement, PSA- Power Sale Agreement
  • 22. For updated information, please visit www.ibef.orgRenewable Energy22 HUGE UNTAPPED POTENTIAL 14.77 32.70 8.30 4.39 750 102 25 20 0.00 100.00 200.00 300.00 400.00 500.00 600.00 700.00 800.00 SolarEnergy WindPower Bio-Power SmallHydroPower Installed Capacity as of October 2017 Potential Source: Ministry of New and Renewable Energy (MNRE), Central Electricity Authority (CEA), IIT Chennai Study Notes: GW – Gigawatt, 1Wind Power potential is at 80 metres above ground level  India is estimated to have renewable energy potential of 900GW from commercially exploitable sources viz. Solar energy- 750 GW, Wind power1 - 102 GW, Bio-energy – 25 GW and Small Hydro – 20 GW.  As of November 2017, the installed power capacity of renewable energy sources (other than hydro) in the country is 60.16 GW. Out of the total installed capacity, 32.7 GW is contributed by wind power, 14.8 GW by solar energy, 8.30 GW by bio-power and 4.39 GW by small hydro power.  Recognizing this potential, a target of 175 GW of renewable energy capacity by 2022 has been fixed.  In India, there is an estimated potential of about 8000MV of tidal energy. Visakhapatnam port traffic (million tonnes) Renewable energy potential and installed capacity as of November 2017 (GW)
  • 23. For updated information, please visit www.ibef.orgRenewable Energy23 RISING POWER DEMAND 119.0 122.3 130.0 135.5 136.0 148.2 153.4 159.5 160.0 295.0 690.0 0 100 200 300 400 500 600 700 800 Source: Business Standard, Capacity addition estimates by CEA, Aranca Research Note: GW – Gigawatt, P – Provisional, E - Estimated  India’s power demand has been rising at a fast pace. It is estimated that India will require an additional power supply capacity of 450 GW by 2034.  The peak power demand of the country was 160 GW in July 2017. It is estimated that this demand will rise to 295 GW by 2021-22 and 690 GW by 2035-36.  Also, India has an electricity-GDP elasticity ratio of 0.8. A seven per cent growth in energy supply will be required if India is to grow at eight per cent. This shows that electricity will continue to remain a key input in India’s GDP growth. Visakhapatnam port traffic (million tonnes)Peak Power Demand in India (GW)
  • 24. For updated information, please visit www.ibef.orgRenewable Energy24 MOVE TOWARDS RENEWABLE SOURCES  It has been estimated that renewables will comprise 49 per cent of India’s power generation by 2040.  Over the last few years there has been an increase in percentage contribution of renewable energy to total installed capacity. In 2013- 14 the contribution was 12.92 per cent which has increased to 18.79 per cent by January 2018.  India aims to achieve a total of 175 GW of installed renewable energy capacity by 2022. It is estimated that India will become the third largest solar market in 2017 while India already has the fourth largest wind power installed capacity globally.  India has moved from the seventh position in 2014 to second position in 2017 in the Renewable Energy Attractiveness Index.1  Replacing coal plants with renewable sources is expected to save India Rs 54,000 crore (US$ 8.4 billion) annually due to reduced power costs. 12.92% 13.17% 14.18% 17.52% 18.79% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% 18.00% 20.00% 2013-14 2014-15 2015-16 2016-17 2017-18* RES as a percentage of total installed capacity (%) Note: 1 - Renewable Energy Attractiveness Index by EY, 2017-18* - as of January 2018 Source: Ministry of New and Renewable Energy (MNRE), Central Electricity Authority (CEA), Greenpeace India
  • 26. For updated information, please visit www.ibef.orgRenewable Energy26 SUZLON ENERGY LTD (SUZLON) 1286.256 2239.7152 4,235.59 3,344.03 2,894.44 3,417.47 3,026.16 3,264.46 3,192.71 1,530.01 2,048.51 0 500 1000 1500 2000 2500 3000 3500 4000 4500 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 Source: Company website, Moneycontrol  Suzlon Energy Ltd is one of the leading renewable energy solutions providers in the world  It has installed around 17GW of energy capacity globally and has one of the largest in- house Research and Development set-up facilities in Germany, the Netherlands, Denmark and India  The company started operation in 1995 and is currently present in 18 countries across 6 continents, with over 8,500 employees of diverse nationalities.  Suzlon has over 10,000 MW of installed capacity in India with installations spread across all key wind states  Suzlon is the market leader in India with a 35 per cent share in India’s cumulative wind energy installations  Over the years, Suzlon, and its founder Tulsi Tanti, have been bestowed with numerous awards for their role in green energy like the Golden Peacock Eco- Innovation Award 2016, Renewable Energy India (REI) Awards 2016, IWEF Awards 2016, Thomson Reuters India Innovation Awards 2016 and many more  The company has grown at a Compound Annual Growth Rate (CAGR) of 4.76 per cent over FY07-17  Its revenue has grown from US$ 1,286 million in FY2007 to US$ 2,048 million in FY2017. During Q3 FY18, it reached Rs 1,820.81 crore (US$ 281.12 million).  The company launched offshore Met Station in the Arabian Sea in December 2017. Visakhapatnam port traffic (million tonnes)SUZLON Revenue (US$ million) CAGR 4.76%
  • 27. For updated information, please visit www.ibef.orgRenewable Energy27 EVOLUTION OF SUZLON 1995- 1996 1998-2000 2005-20082001-2004 2009-2012 2014-2015  Suzlon is formed and becomes operational  Establishes a technical collaboration with Sudwind Energy GmbH  Commissions its first 0.27 MW WTG for Indian Petrochemicals Ltd at Gujarat  Enters Rajasthan and Karnataka and Madhya Pradesh  Forms two wholly owned subsidiaries in USA, Germany, Australia and Denmark  Initiates backward integration from its rotor blade and wind turbine control systems units in Daman  Enters China by opening office in Beijing  Forms Suzlon Generators Pvt Ltd and Suzlon Structures Pvt Ltd  Commissions first WTG in Spain and Turkey and entered Scandinavia  Crossed the 6 GW installation mark in India and 2 GW mark in USA  Became 1st company to bring investment from a nationalised bank into wind energy sector  Opened training center for wind technicians in North America  Announced launch of its newest WTG, the S111 2.1 MW, the latest generation of the 2.1 MW fleet designed for low wind speed sites and becoming the highest-yielding IEC Class III wind turbine of any comparable class machine  Suzlon enters Maharashtra by installing a WTG for Ghodawat Pan Masala Products  Forays into Tamil Nadu with commissioning of first wind turbine in the state  Commissions its first 50 MW and crossed the 100 MW mark at Maharashtra  Commissions its first 1 MW WTG for Niskalp Investments (formerly known as Tata Group Co)  Crosses the 3 GW installation mark in India  Incorporates Suzlon Rotor Corp, USA  IPO for 29.34 million shares on the BSE and NSE  Formation of SE Forge Ltd. and wholly owned subsidiary Suzlon Energy (Tianjin) Ltd  Begins production of blades and nose cones in USA  Achieves the elite status of Superbrand (2008-09)  Floats maiden QIP of ~USD 552 million  Harvard Business School conducts a study ‘The Suzlon edge’  Commissioned 10,000th WTG in Uruguay  Signed agreements with Dilip Shanghvi Family and Associates (DSA) for equity investments of INR 1,800 Crore for equity infusion to accelerate growth  Receives the certification for its S111 2.1 MW turbine, 50 Hz and 60 Hz variants, awarded by TÜV NORD Source: Company website, Aranca Research
  • 28. For updated information, please visit www.ibef.orgRenewable Energy28 WEBSOL ENERGY SYSTEMS LTD (WEBELSOLAR) 10.83 17.25 16.11 22.93 26.83 28.53 23.46 20.11 48.95 57.05 44.88 55.27 - 10.00 20.00 30.00 40.00 50.00 60.00 FY06FY07FY08FY09FY10FY11FY12FY13FY14FY15FY16FY17 Source: Company website, Moneycontrol  Websol Energy Systems Ltd is a leading manufacturer of photovoltaic monocrystalline solar cells and modules in India  It designs modules for grid and standalone solar PV power plants, rural electrification and remote communications for the best performance under diffused sun light  It has international certifications making it one of the few technologically independent manufacturers of solar cells and modules in India  Websol has also picked up many awards and accolades generating confidence in customers about the commitment for continual improvement in products and processes  The company has grown at a strong Compound Annual Growth Rate of 15.28 per cent over FY2006-16  Its revenue grew from US$ 10.83 million in FY2006 to US$ 44.88 in FY2016 and Rs 3707.7 million (US$ 55.27 million) in FY17. Visakhapatnam port traffic (million tonnes)WEBELSOLAR Revenue (US$ million) CAGR 15.28%
  • 29. For updated information, please visit www.ibef.orgRenewable Energy29 EVOLUTION OF WEBSOL ENERGY SYSTEMS 1994-1999 2000-2001 2005-20062002-2004 2007-2008 2009  Technical collaboration with Helios Technology, Italy  Started with 1 MW installed capacity and Processed 4 inch and 5 inch wafers  International certification from JRC for IEC 61215 standards for 90Wp Module  International certification for W1000 as per IEC 61215 standards  UL 1703 listing for all W 900 type modules  Capacity expansion from 3MW to 5MW  International certification as IEC 61215 and IEC 61730 for 180 W/220Wp  UL and CSA listing for 180/220Wp modules  Installed PECVD technology for Silicon nitride antireflective coating at Salt Lake plant  Engineering, Procurement and Construction Management Consultant appointed for Falta plant  Cell efficiency reached 16.5 per cent plus  Processed 8 inch wafers and converted it 154x154 mm solar cells  Installed Capacity increased to 3MW  Capacity increased from 5MWp to 10 MWp  Commenced commercial production of W1600 and W2000R  International certification from TUV safety class II for W2000 and W1600 type modules  Industrial site finalised in SEZ Falta, West Bengal for 120 MW expansion  30 MW cell & module line installed and commissioned  Solar PV cells and modules trial production started in May 2009  Received IEC 61215 and IEC 61730 certification for 180 Wp and 225 Wp module  Established representative offices in USA and Germany Source: Company website, Aranca Research
  • 31. For updated information, please visit www.ibef.orgRenewable Energy31 KEY INDUSTRY ASSOCIATIONS National Institute of Solar Energy (NISE) Address: Velachery - Tambaram Main Road , Pallikaranai, Chennai - 600 100 Tel: 91 44 2246 3982/ 83 / 84 Fax: 91 44 2246 3980 Website: http://niwe.res.in/ Address: National Institute of Solar EnergyGwal Pahari, Faridabad, Gurugram, Haryana- 122 003 Website: https://nise.res.in/ National Institute of Wind Energy (NIWE) Sardar Swaran Singh National Institute of Bio- Energy (SSS- NIBE) Address: India Habitat Centre Complex, Core- 4A, East Court, 1st Floor, Lodi Road, New Delhi- 110 003 Tel: 91 11 24682214/ 21 E-mail: cmd@ireda.gov.in Web site: http://ireda.gov.in/ Address: 12th K. M. Stone, Jalandhar - Kapurthala Road, Wadala Kalan, Kapurthala - 144601 (Punjab), India Tel: 91 1822 255544/ 507403/ 507406 Fax: 91 1822 255544 Website: http://www.nibe.res.in/ The Indian Renewable Energy Development Agency (IREDA) Solar Energy Corporation of India (SECI) Address: A-2/158, Janakpuri, New Delhi-110058, India Tel: 91 11 25618472, 45652708 Fax: 25611622 E-mail: cvjvarma@gmail.com , cvjv1933@yahoo.com Web site: http://seci.gov.in
  • 33. For updated information, please visit www.ibef.orgRenewable Energy33 GLOSSARY  CAGR: Compound Annual Growth Rate  FDI: Foreign Direct Investment  FY: Indian Financial Year (April to March)  GOI: Government of India  INR: Indian Rupee  US$: US Dollar  Wherever applicable, numbers have been rounded off to the nearest whole number
  • 34. For updated information, please visit www.ibef.orgRenewable Energy34 EXCHANGE RATES Exchange Rates (Fiscal Year) Exchange Rates (Calendar Year) Year INR INR Equivalent of one US$ 2004–05 44.81 2005–06 44.14 2006–07 45.14 2007–08 40.27 2008–09 46.14 2009–10 47.42 2010–11 45.62 2011–12 46.88 2012–13 54.31 2013–14 60.28 2014-15 61.06 2015-16 65.46 2016-17 67.09 Q1 2017-18 64.46 Q2 2017-18 64.29 Q3 2017-18 64.74 Year INR Equivalent of one US$ 2005 43.98 2006 45.18 2007 41.34 2008 43.62 2009 48.42 2010 45.72 2011 46.85 2012 53.46 2013 58.44 2014 61.03 2015 64.15 2016 67.21 2017 65.12 Source: Reserve bank of India, Average for the year
  • 35. For updated information, please visit www.ibef.orgRenewable Energy35 DISCLAIMER India Brand Equity Foundation (IBEF) engaged Aranca to prepare this presentation and the same has been prepared by Aranca in consultation with IBEF. All rights reserved. All copyright in this presentation and related works is solely and exclusively owned by IBEF. The same may not be reproduced, wholly or in part in any material form (including photocopying or storing it in any medium by electronic means and whether or not transiently or incidentally to some other use of this presentation), modified or in any manner communicated to any third party except with the written approval of IBEF. This presentation is for information purposes only. While due care has been taken during the compilation of this presentation to ensure that the information is accurate to the best of Aranca and IBEF’s knowledge and belief, the content is not to be construed in any manner whatsoever as a substitute for professional advice. Aranca and IBEF neither recommend nor endorse any specific products or services that may have been mentioned in this presentation and nor do they assume any liability or responsibility for the outcome of decisions taken as a result of any reliance placed on this presentation. Neither Aranca nor IBEF shall be liable for any direct or indirect damages that may arise due to any act or omission on the part of the user due to any reliance placed or guidance taken from any portion of this presentation.