Renewable energy’s transformation of the Indian electricity landscape

This paper explains the Indian renewables sector and highlights some of the differences between it and the, perhaps better known, markets in Europe.

Having built a 560 MW operating portfolio over the last five years, Mytrah is benefitting from some of the key differences highlighted in this paper:

1. India is short of power, and thus, new renewable capacity produces electricity for an undersupplied market.
2. Renewable capacity is faster to market than alternatives such as coal-fired power.
3. Renewable electricity prices are similar to those of electricity from other sources.

In contrast to Europe, where renewables have generally displaced existing generation capacity and required heavy subsidies, India benefits from truly market-led renewable energy demand, without significant subsidy. Strong support from the Government of India reinforces the market fundamentals, creating a dynamic market which is growing rapidly. India already has 35 GW of renewable energy capacity and plans to grow this 500% over the next six years.