RENEWABLE ENERGY

For updated information, please visit www.ibef.org April 2018

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

Opportunities….……………..……………..21

Case Studies………...……………...……...25

Industry Associations……….......…………30

Useful Information……….......…………….32
 EXECUTIVE SUMMARY

 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. These include 100 GW of solar capacity addition and
60 GW of wind power capacity. The solar capacity target will be achieved before its 2022 deadline while wind
Ambitious Targets power capacity is expected to reach 60 GW by FY21.
 60 solar cities will be developed in India as part of Ministry of New and Renewable Energy’s Solar Cities
program.

 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
Immense Growth the north-eastern states of the country.
Potential  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.

 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
Competition the smaller contractors.

 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
Increasing Investments
Energy Attractiveness Index 2017 as there is ample push from the government and the economics of the market
is improving.

Source: EY, Central Electricity Authority, MNRE, DIPP, Livemint, IWTMA

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 Renewable Energy

ADVANTAGE INDIA
 ADVANTAGE INDIA

 India has relatively low per capita energy  Non-conventional energy received FDI
and electricity consumption . It was one- inflow of US$ 6.26 billion between April
third of the world average in 2015-16. 2000 and December 2017.

 As the economy grows the electricity  With government’s ambitious green

consumption is projected to reach 15,280 energy targets, the sector has become
TWh in 2040 from the 4926 TWh in 2012. quite attractive for both foreign and
Most of this demand would come from the domestic investors.
growth in the buildings, industry and
transport sectors.

ADVANTAGE
INDIA
 Indian government aims to achieve 175 GW
 India receives about 300 days of sunshine of renewable energy by 2022.
in an year. This makes it a perfect  Because of the immense support from
candidate to harness the solar power government, India has ranked 2nd in the
available. India also has a large hydro ‘Renewable Energy Country Attractiveness
power potential which is being explored in Index 2017’.
the north-eastern states of the country.  The aim of the government to achieve
 Coupled with regular solar auctions and universal household electrification, also a
new government mega projects like solar boon for the power sector. India also had
parks, the setup and financing costs have highest ever capacity addition in
come down significantly in the past two renewable energy in 2016-17.
years.

Note: TWh – Terwatt Hour

Source: Central Electricity Authority, Ministry of New and Renewable Energy

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 Renewable Energy

MARKET OVERVIEW
AND TRENDS
 Renewable Energy Sources

Renewable Energy
Sources (RES)

Other forms of
Hydro Energy
renewable energy

Small Hydro Power

Wind Power Bio-Power Solar Power
(Projects ≤ 25 MW)

Urban & Industrial

Biomass Power
Waste Power

Source: Central Electricity Authority (CEA)

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 RES WITH SHARES IN INSTALLED CAPACITY … (1/2)

Installed
Visakhapatnam
capacity for different
port traffic
RES – March
(million tonnes)
2018 (GW)
 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. 50.0

 The International Energy Agency’s World Energy Outlook projects a 45.0

growth of renewable energy supply to 4,550 GW in 2040 on a global

45.3
basis. 40.0

 As of March 2018, total renewable1 power generation installed

35.0
capacity in the country stood at 114.32 GW, which is 33.23 per cent

34.0
of the total installed capacity of 344 GW.
30.0
 A hydro power revival policy is underway which amongst others is
likely to include the classification of all hydro power projects as 25.0
renewable energy
20.0

21.7
15.0

10.0

8.8
5.0

4.5
0.0
Hydro Wind Solar PV Bio-Power Small Hydro

Notes: RES – Renewable Energy Source; GW – Gigawatt; 1Large Hydro power projects included here but not included in renewable energy targets of GOI
Source: CEA, International Renewable Energy Agency (IRENA)

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 GENERATION CAPACITY HAS INCREASED AT A
HEALTHY PACE … (1/2)

 Installed renewable power generation capacity has increased Visakhapatnam

Installed capacity
port
from
traffic
different
(million
REStonnes)
(GW)
steadily over the years, posting a CAGR of 9.29 per cent over
FY08–18.
CAGR 9.29%
 Power generation from renewable energy sources (excluding large 140
hydro) in India reached 93.21 billion units in FY18 (up to February
2018). 120
 India has the fourth largest installed capacity of wind power and the

114.3
third largest installed capacity of concentrated solar power (CSP)
100

101.7
 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

85.7
80
RES (excluding large hydro projects) by March, 2022, which includes

77.0
100 GW of Solar power, 60 GW from wind power, 10 GW from

70.0
67.0
biomass power and 5 GW from small hydro power 60

63.5
56.0
 Solar installation in India is expected to increase 360 per cent by

52.4
50.1
47.0
2020. 40

 India witnessed highest ever solar power capacity addition of

5,525.98 MW and 467.11 MW of wind power capacity addition in 20
2017-181. 15,000 biogas plants were installed during the same time
period.
0
FY08

FY09

FY10

FY11

FY12

FY13

FY14

FY15

FY16

FY17

FY18
 About 4.96 million household size biogas plants have been installed
in India since the inception of National Biogas and Manure
Management Programme (NBMMP).

Note: RES – Renewable Energy Source; GW - Gigawatt, CAGR - Compound Annual Growth Rate; FY18* - data up to February 2018, Large Hydro power projects not included in
renewable energy targets of GOI
Source: CEA, makeinindia

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 GENERATION CAPACITY HAS INCREASED AT A
HEALTHY PACE … (2/2)

 Among the different sources of renewable power in India, the CAGR Visakhapatnam
Comparison ofport
installed
traffic capacity
(million tonnes)
(GW)
in installed capacity over FY07–FY17 was

• 2.32 per cent for hydro power 400

• 20.12 per cent for other renewable energy sources, supported by

350
the commencement of solar capacity addition since 2012

275
 The Government of India is projecting a rapid 17.04 per cent CAGR
300
increase in other RES installed capacity to 275 GW by 2027
supported by a surge in solar power capacity addition.
250
 Off-grid power equivalent to 168.87 MW was added in the country

175
during January – November 2017.
200
 Under Union Budget 2018-19, Rs 3,762 crore (US$ 581.09 million)
has been allocated for grid-interactive renewable energy schemes
150
and projects which includes Rs 2,045 crore (US$ 315.88 million) for
solar power.
100
 Green energy corridors project has been allocated Rs 600 crore (US$

57
92.68 million) under Union Budget 2018-19.

72
50 8

39 25

60
44
35
0
End of 10th End of 11th End of 12th FY22 F FY27 F
Year Plan Year Plan Year Plan

Hydro Other RES

Note: RES – Renewable Energy Source; GW - Gigawatt, CAGR - Compound Annual Growth Rate; , T – Target, F - Forecast
Source: :CEA, India Solar Handbook 2017

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 SOLAR POWER GENERATION GROWTH LIKELY TO
OUTWEIGH OTHER SOURCES BY 2022 … (1/2)

 Growth in solar power installed capacity is expected to surpass the Expected change in share of various RES from FY18* to FY22
installed capacity of wind power, reaching 100 GW by 2022 from its (GW)
current levels of 21.65 GW as of December 2017.

 Three new solar parks have been approved in 2017-18 with a total 4.4
capacity of 1,523 MW. 8.3
 Rapidly falling costs has made Solar PV the largest market for new
investment. 32.7

 Further, the scaling up of the target of National Solar Mission to 100 14.8
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.

 World’s largest solar park with a capacity of 5,000 MW is being set

up in the state of Gujarat.
5.00
 In November 2017, Government of India signed a US$ 100 million 10.00
agreement with the World Bank for ‘Shared Infrastructure for Solar 60.00
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. 100.00

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),
Source: CEA, makeinindia, India Solar Handbook 2017

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 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.

 World’s largest solar park named ‘Shakti Sthala’ was launched in

Karnataka in March 2018 with an investment of Rs 16,500 crore
(US$ 2.55 billion).

 Solar sector in India received investments of over US$10 billion in

CY2017.

Source: CEA, Solargis, Mercom Capital

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 PORTER’S FIVE FORCES FRAMEWORK ANALYSIS

Threat of Substitutes

 High – Threat of substitutes is going

to remain high as long as other non-
renewable sources of energy remain
cost-effective.

Bargaining Power of Suppliers Competitive Rivalry Bargaining Power of Buyers

 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.
 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.
 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.

Threat of New Entrants

 Low – Threat of new entrants is low

as the cost of generating renewable
Positive Impact energy is very high; for example: the
Neutral Impact cost of setting up a wind mill or a solar
panel etc; which makes entry of new
Negative Impact players highly difficult.

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 Renewable Energy

STRATEGIES
ADOPTED
 STRATEGIES ADOPTED

 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.

Full Integration  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.

 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
Decentralised
panels in slums which were not connected to the grid as a pilot project in 2008 and has since expanded into other states
Solar Power
as well. They have also used standardized financial packages to get the slum people move from kerosene to solar
power.

 With the increasing competition and increasing FDI, players in the solar sector have started bidding at lower prices with
PPA & Lower solar tariffs reaching record low of Rs 2.44 (US$ 0.04) per unit in May 2017. Power Purchase Agreements with states
Tariffs 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.

Source: Company websites, Livemint

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 Renewable Energy

GROWTH DRIVERS
 GOVERNMENT POLICIES
National Offshore Wind
Energy Policy, 2015
Repowering Policy
Wind-Solar Hybrid
Policy
Renewable Purchase
Obligations (RPO’s)
Scheme for
Development of Solar
Parks and Ultra Mega
Solar Power Projects
Note : GW - Gigawatt
Source : Ministry of New and Renewable Energy (MNRE), News Articles
17 Renewable Energy
 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.
 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
 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
 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.
 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.
For updated information, please visit www.ibef.org
 INCREASING INVESTMENTS: FDI INFLOWS AND KEY
DEALS … (1/2)

 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.

Major FDI Investments in Renewable Energy Sector

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

Notes: FDI - Foreign Direct Investment, Pvt. Ltd. – Private Limited Company
Source: Make in India

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 INCREASING INVESTMENTS: FDI INFLOWS AND KEY
DEALS … (2/2)

Major FDI Investments in Renewable Energy Sector

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

Netherlands BLP Energy Pvt. Ltd. 32.61
Development B.V.

DEG-DEUTSCHE-InvestitionsUnd- WELSPUN Renewables

Germany 32.50
Entwicklun Energy Pvt Ltd

ENERK International Holdings

Seychelles RKM POWERGEN Pvt Ltd 32.50
Ltd

OSTRO Renewal Power Limited Mauritius OSTRO Energy Pvt Ltd 32.21

AREVA Solar Inc U.S.A AREVA Solar India Pvt Ltd 31.53

Notes: FDI - Foreign Direct Investment, Pvt. Ltd. – Private Limited Company
Source: Make in India

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 GOVERNMENT INITIATIVES

 Targets deployment of 100 GW of solar power by 2022.  Project for evacuation of renewable energy from generation points
to the load centres by creating intra-state and inter-state
 Various incentives are being offered under the scheme:
transmission infrastructure.
• Zero import duty on capital equipment, raw materials
 India received a US$ 1.15 billion soft loan from German
• Low interest rates and Priority Sector Lending development bank KfW for implementation of green
• Single window mechanism for all related corridors project. 40 per cent of Intra state and 70 per
permissions cent of inter state transmission schemes will be
funded through the soft loan.
• Tax exemption and capital subsidies
available
Budget 2018-19 -
Ministry for New and
Renewable Energy
Allocation is
 Scheme for setting up 1000 MW Inter State
US$ 1.6 billion  As of January 2017, there were about
Transmission Systems (ISTS) connecting
100,000 people working in four major
wind power projects.
areas of renewable energy sector viz.
 Projects of 50MW and above will be connected Solar, Wind, Biomass and Small Hydro
to ISTS point. Power.
 The scheme also provides for 25 years of PPA and PSA.  To meet the rising demand of trained manpower, a
 The first round of auction was completed in February 2017 target of achieving 50,000 “SuryaMitras” of skilled
and another round of auction was announced in May 2017. manpower in solar enery sector by 2019-20 has been
set.
 Wind power capacity addition is expected to reach 3 GW in
FY19.

Notes : GW – Gigawatt, MW – Megawatt, PPA – Power Purchase Agreement, PSA- Power Sale Agreement
Source : Ministry of New and Renewable Energy (MNRE), Make in India, News Articles

20 Renewable Energy For updated information, please visit www.ibef.org

 Renewable Energy

OPPORTUNITIES
 HUGE UNTAPPED POTENTIAL

 India is estimated to have renewable energy potential of 900GW Renewable energy potential and installed capacity as of March
Visakhapatnam port traffic (million tonnes)
from commercially exploitable sources viz. Solar energy- 750 GW, 2018 (GW)
Wind power1 - 102 GW, Bio-energy – 25 GW and Small Hydro – 20
GW. 800.00

 As of March 2018, the installed power capacity of renewable energy

750
700.00
sources (other than hydro) in the country is 69.02 GW. Out of the
total installed capacity, 34.05 GW is contributed by wind power, 600.00
21.65 GW by solar energy, 8.84 GW by bio-power and 4.49 GW by
small hydro power. 500.00

 Recognizing this potential, a target of 175 GW of renewable energy 400.00

capacity by 2022 has been fixed.
300.00
 In India, there is an estimated potential of about 8000MV of tidal
energy. 200.00

100.00
34.05

102
21.65 8.84 25 20
4.49
0.00

Solar Energy

Bio-Power

Small Hydro Power

Wind Power
Installed Capacity as of October 2017 Potential

Notes: GW – Gigawatt, 1Wind Power potential is at 80 metres above ground level

Source: Ministry of New and Renewable Energy (MNRE), Central Electricity Authority (CEA), IIT Chennai Study

22 Renewable Energy For updated information, please visit www.ibef.org

 RISING POWER DEMAND

 India’s power demand has been rising at a fast pace. It is estimated Visakhapatnam
Peak Powerport
Demand
trafficin(million
India (GW)
tonnes)
that India will require an additional power supply capacity of 450 GW
by 2034. 800

 The peak power demand of the country was reached 164.07 GW in

2017-18. It is estimated that this demand will rise to 295 GW by 700

690.0
2021-22 and 690 GW by 2035-36.
600
 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
500
eight per cent. This shows that electricity will continue to remain a
key input in India’s GDP growth.
400

300

295.0
200

164.1
159.5
153.4
148.2
136.0
135.5
100

130.0
122.3
119.0
0

Note: GW – Gigawatt, P – Provisional, E - Estimated

Source: Business Standard, Capacity addition estimates by CEA, Aranca Research

23 Renewable Energy For updated information, please visit www.ibef.org

 MOVE TOWARDS RENEWABLE SOURCES

 It has been estimated that renewables will comprise 49 per cent of RES (excluding large hydro) as a percentage of total installed
India’s power generation by 2040. capacity (%)
25.00%
 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 20.06
per cent by March 2018.
20.00%
20.06%
 India aims to achieve a total of 175 GW of installed renewable
energy capacity by 2022. It is estimated that India will become the
17.52%
third largest solar market in 2017 while India already has the fourth
largest wind power installed capacity globally. 15.00%

 India has moved from the seventh position in 2014 to second position 14.18%
12.92% 13.17%
in 2017 in the Renewable Energy Attractiveness Index.1

 Replacing coal plants with renewable sources is expected to save 10.00%

India Rs 54,000 crore (US$ 8.4 billion) annually due to reduced
power costs.

5.00%

0.00%
2013-14 2014-15 2015-16 2016-17 2017-18

Note: 1 - Renewable Energy Attractiveness Index by EY

Source: Ministry of New and Renewable Energy (MNRE), Central Electricity Authority (CEA), Greenpeace India

24 Renewable Energy For updated information, please visit www.ibef.org

 Renewable Energy

CASE STUDIES
 SUZLON ENERGY LTD (SUZLON)

 Suzlon Energy Ltd is one of the leading renewable energy solutions Visakhapatnam
SUZLON Revenue
port traffic
(US$(million
million)
tonnes)
providers in the world
 It has installed around 17GW of energy capacity globally and has 4500 CAGR 4.76%
one of the largest in- house Research and Development set-up
facilities in Germany, the Netherlands, Denmark and India

4,235.59
4000
 The company started operation in 1995 and is currently present in 18
countries across 6 continents, with over 8,500 employees of diverse 3500
nationalities.

3,417.47
3,344.03

3,264.46

3,192.71
 Suzlon has over 10,000 MW of installed capacity in India with 3000

3,026.16
installations spread across all key wind states

2,894.44
2500
 Suzlon is the market leader in India with a 35 per cent share in
India’s cumulative wind energy installations

2239.7152
2000
 Over the years, Suzlon, and its founder Tulsi Tanti, have been

2,048.51
bestowed with numerous awards for their role in green energy like
1500
the Golden Peacock Eco- Innovation Award 2016, Renewable

1,530.01
Energy India (REI) Awards 2016, IWEF Awards 2016, Thomson

1286.256
Reuters India Innovation Awards 2016 and many more 1000

 The company has grown at a Compound Annual Growth Rate

500
(CAGR) of 4.76 per cent over FY07-17
 Its revenue has grown from US$ 1,286 million in FY2007 to US$ 0
2,048 million in FY2017. During Q3 FY18, it reached Rs 1,820.81 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17
crore (US$ 281.12 million).
 The company launched offshore Met Station in the Arabian Sea in
December 2017.
Source: Company website, Moneycontrol

26 Renewable Energy For updated information, please visit www.ibef.org

 EVOLUTION OF SUZLON

 Suzlon is formed and  Commissions first WTG in Spain and Turkey and entered Scandinavia
 Enters Rajasthan and Karnataka and Madhya
becomes operational
Pradesh  Crossed the 6 GW installation mark in India and 2 GW mark in USA
 Establishes a technical
 Forms two wholly owned subsidiaries in USA,  Became 1st company to bring investment from a nationalised bank into
collaboration with Sudwind
Germany, Australia and Denmark wind energy sector
Energy GmbH
 Initiates backward integration from its rotor blade  Opened training center for wind technicians in North America
 Commissions its first 0.27
and wind turbine control systems units in Daman  Announced launch of its newest WTG, the S111 2.1 MW, the latest
MW WTG for Indian
Petrochemicals Ltd at  Enters China by opening office in Beijing generation of the 2.1 MW fleet designed for low wind speed sites and
 Forms Suzlon Generators Pvt Ltd and Suzlon becoming the highest-yielding IEC Class III wind turbine of any
Gujarat
Structures Pvt Ltd comparable class machine

1995- 1996 1998-2000 2001-2004 2005-2008 2009-2012 2014-2015

 Suzlon enters Maharashtra by installing a  Crosses the 3 GW installation mark in India

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)
Source: Company website, Aranca Research
 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

27 Renewable Energy For updated information, please visit www.ibef.org

 WEBSOL ENERGY SYSTEMS LTD (WEBELSOLAR)

 Websol Energy Systems Ltd is a leading manufacturer of Visakhapatnam

WEBELSOLAR port
Revenue
traffic (million
(US$ million)
tonnes)
photovoltaic monocrystalline solar cells and modules in India
 It designs modules for grid and standalone solar PV power plants, 60.00 CAGR 15.28%
rural electrification and remote communications for the best

57.05
performance under diffused sun light

55.27
 It has international certifications making it one of the few 50.00
technologically independent manufacturers of solar cells and

48.95
modules in India

44.88
 Websol has also picked up many awards and accolades generating 40.00
confidence in customers about the commitment for continual
improvement in products and processes
 The company has grown at a strong Compound Annual Growth 30.00

28.53
Rate of 15.28 per cent over FY2006-16

26.83
 Its revenue grew from US$ 10.83 million in FY2006 to US$ 44.88 in

23.46
22.93
20.00
FY2016 and Rs 3707.7 million (US$ 55.27 million) in FY17.

20.11
17.25

16.11
10.00

10.83
-
FY06FY07FY08FY09FY10FY11FY12FY13FY14FY15FY16FY17

Source: Company website, Moneycontrol

28 Renewable Energy For updated information, please visit www.ibef.org

 EVOLUTION OF WEBSOL ENERGY SYSTEMS

 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 as IEC 61215 and IEC 61730 for 180
W/220Wp
 UL and CSA listing for 180/220Wp modules
 International certification for W1000 as per IEC
 Installed PECVD technology for Silicon nitride antireflective coating at
61215 standards
Salt Lake plant
 UL 1703 listing for all W 900 type modules
 Engineering, Procurement and Construction Management Consultant
 Capacity expansion from 3MW to 5MW appointed for Falta plant
 Cell efficiency reached 16.5 per cent plus

1994-1999 2000-2001 2002-2004 2005-2006 2007-2008 2009

 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

29 Renewable Energy For updated information, please visit www.ibef.org

 Renewable Energy

INDUSTRY
ASSOCIATIONS
 KEY INDUSTRY ASSOCIATIONS

National Institute of Solar Energy (NISE) National Institute of Wind Energy (NIWE)

Address: National Institute of Solar EnergyGwal Pahari, Address: Velachery - Tambaram Main Road , Pallikaranai, Chennai -
600 100
Faridabad, Gurugram, Haryana- 122 003
Tel: 91 44 2246 3982/ 83 / 84
Website: https://nise.res.in/
Fax: 91 44 2246 3980

Website: http://niwe.res.in/

Sardar Swaran Singh National Institute of Bio- Energy (SSS-

The Indian Renewable Energy Development Agency (IREDA)
NIBE)
Address: 12th K. M. Stone, Jalandhar - Kapurthala Road, Wadala Address: India Habitat Centre Complex, Core- 4A, East Court, 1st
Kalan, Kapurthala - 144601 (Punjab), India Floor, Lodi Road, New Delhi- 110 003
Tel: 91 11 24682214/ 21
Tel: 91 1822 255544/ 507403/ 507406
E-mail: cmd@ireda.gov.in
Fax: 91 1822 255544 Web site: http://ireda.gov.in/
Website: http://www.nibe.res.in/

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

31 Renewable Energy For updated information, please visit www.ibef.org

 Renewable Energy

USEFUL
INFORMATION
 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

33 Renewable Energy For updated information, please visit www.ibef.org

 EXCHANGE RATES

Exchange Rates (Fiscal Year) Exchange Rates (Calendar Year)

Year INR INR Equivalent of one US$ Year INR Equivalent of one US$

2004–05 44.81 2005 43.98

2005–06 44.14 2006 45.18

2006–07 45.14 2007 41.34
2007–08 40.27
2008 43.62
2008–09 46.14
2009 48.42
2009–10 47.42
2010 45.72
2010–11 45.62
2011 46.85
2011–12 46.88
2012 53.46
2012–13 54.31
2013 58.44
2013–14 60.28
2014 61.03
2014-15 61.06

2015-16 65.46 2015 64.15

2016-17 67.09 2016 67.21

2017-18 64.45 2017 65.12

Source: Reserve Bank of India

34 Renewable Energy For updated information, please visit www.ibef.org

 DISCLAIMER

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with IBEF.

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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
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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.

35 Renewable Energy For updated information, please visit www.ibef.org