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Expert Talk On Corporate Renewable Energy Procurement in India: Analysing Role of Energy Buyers, Future Corporate PPA Trends & Market Innovation
11th August 2020 @ 3:30 pm - 5:00 pm ISTINR2500
Reading Time: 2 minutes
With corporates more eager and passionate than ever to make clean energy promises, the global market for corporate RE PPA continues to surge. Last year, corporations contracted an unprecedented volume of renewable energy projects, up more than 40% from the previous year. It is estimated the demand for corporate PPAs amounted to between $20 billion and $30 billion in investment and was equivalent to more than 10% of all the renewable energy capacity added last year.
India still remains the largest corporate PPA market in Asia. In last 2-4 years many large Commercial and Industrial customers in India made their initial experiences with procurement of renewable power. Now, the Indian corporate PPA market is ready to move into the 2nd phase of growth, where more companies are starting to procure RE and companies with good initial experiences are scaling up procurement. Indian corporate have been increasingly procuring renewable power through the open access route, mainly to meet carbonation targets and cost savings because of lower cost of renewable power vis-a-vis other sources.
Corporate (industrial and commercial sector) electricity demand accounts for about 50% of total electricity consumption in India. Businesses are thus a major market force to drive the decarbonization of the power sector. Infosys, Dalmia Cement, Mahindra Holidays & Resorts and Tata Motors amongst others – are Indian-headquartered companies that have voluntarily adopted 100% renewable electricity consumption targets. While greater alignment between central and state policies on corporate renewable energy sourcing and its enforcement is required, business have also started demanding for the regulatory frameworks to open up to alternative instruments such as green tariffs, virtual power purchase agreements (PPAs), special trading of renewable electricity on energy exchange, and others.
The goal of this ExpertTalk is to inform Corporate Buyers and Renewable Energy Companies who would like to stay up to date on the constantly evolving landscape of India’s Corporate Renewable PPA Market and also learn from Global Corporate Renewable Power Procurement Models.
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