We at Reliance Power believe that enhanced use of natural and renewable energy sources is needed to help take the burden off our current dependancy on fossil fuels. power generation from renewable energy sources is increasingly becoming important all over the world as we strive to mitigate green house gases and climate change issues important for our survival on Planet Earth.We have a diversified portfolio of power projects in which green energy generation has an important share.
We have successfully commissioned a 40 MW solar photovoltaic project, India's largest such project , in Pokharan, Rajasthan in March 2012. We are also developing a 100 MW solar thermal project at the same location which is expected to be commissioned by end of this year. We have also successfully commissioned a 45 MW wind project in Vashpet, Maharashtra in June 13.
We also have around 94 MW of operational wind farms within the Group. We have finalized plans to develop 5,292 MW of hydroelectric power projects which are at various stages of development. We have also identified locations for setting up of wind and solar based capacities which would take our total renewable capacities to 1,000 MW. We expect that, of our total energy portfolio as much as ten percent will come from renewable energy capacities.
India's potential for generating renewable energy is huge,especially solar power as well as hydroelectric and wind energy.With growing realization in the government of how important it is to harness all available energy sources, the potential that always existed is now transfroming into reality. The key drivers are:
- Increased Government focus
- Recent regulatory initiatives promoting development of renewable energy sources such as
Mandatory Renewable Purchase Obligations
Revised tariff guidelines
Generation based incentives.
Introduction of Renewable Energy Certificates (RECs)
Reliance Power's strategy for its renewable renewable energy business can be captured in the following bullet points:
- Becoming one of the largest green portfolio company in the power sector
- A company with a diversified portfolio consisting of wind, solar and hydroelectric projects.
- Striving for a portfolio which provides attractive returns
- Earning additional revenues through Carbon Credits and Renewable Energy Certificates