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For updated information, please visit www.ibef.org December 2017
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.org Renewable Energy 3
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.
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$ 6.01 billion up to September 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
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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$ 6.01 billion between April
2000 and September 2017 with US$ 1.77
billion out of this coming in from April 2014
to September 2016.
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 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)
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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 November 2017, Large 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 November 2017, total renewable* power generation installed
capacity in the country stood at 105.12 GW, which is 31.69 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
.70
14
.77
8.3
0
4.3
9
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
For updated information, please visit www.ibef.org Renewable Energy 9
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 8
5.7
10
1.7
10
5.1
0
20
40
60
80
100
120
FY
07
FY
08
FY
09
FY
10
FY
11
FY
12
FY
13
FY
14
FY
15
FY
16
FY
17
*FY
18
Source: CEA, makeinindia
Note: RES – Renewable Energy Source; GW - Gigawatt, CAGR - Compound Annual Growth Rate; FY18* - data up to November 2017, 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–
18*
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.
Visakhapatnam port traffic (million tonnes) Installed capacity for different RES (GW)
CAGR 8.39%
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GENERATION CAPACITY HAS INCREASED AT A
HEALTHY PACE … (2/2)
35
39
44
60
72
8
25
57
17
5
27
5
0
50
100
150
200
250
300
350
400
End of 10thYear Plan
End of 11thYear Plan
End of 12thYear 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; FY18* - data up to July 2017
Among the different sources of renewable power in India, the CAGR
in installed capacity over FY07–FY18* 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.
Visakhapatnam port traffic (million tonnes) Comparison of installed capacity (GW)
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SOLAR POWER GENERATION GROWTH LIKELY TO
OUTWEIGH OTHER SOURCES BY 2022 … (1/2)
32.51
13.11
8.30
4.38
Expected change in share of various RES from FY18* to FY22 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 14.77 GW as of November 2017.
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
10.00 5.00
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),
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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
Source: CEA, Solargis
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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
Renewable Energy
STRATEGIES
ADOPTED
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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.
Renewable Energy
GROWTH DRIVERS
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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
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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$ 6.01 billion during April 2000 to September 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
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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
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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
Renewable Energy
OPPORTUNITIES
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HUGE UNTAPPED POTENTIAL
14.77 32.70
8.30 4.39
75
0
10
2
25 20
0.00
100.00
200.00
300.00
400.00
500.00
600.00
700.00
800.00
So
lar
En
erg
y
Win
d P
ow
er
Bio
-Po
wer
Sm
all
Hyd
ro P
ow
er
Installed Capacity as of October 2017 Potential
Source: Ministry of New and Renewable Energy (MNRE), Central Electricity Authority (CEA)
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.
Visakhapatnam port traffic (million tonnes) Renewable energy potential and installed capacity as of
November 2017 (GW)
For updated information, please visit www.ibef.org Renewable Energy 23
RISING POWER DEMAND
11
9.0
12
2.3
13
0.0
13
5.5
13
6.0
14
8.2
15
3.4
15
9.5
16
0.0
29
5.0
69
0.0
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)
For updated information, please visit www.ibef.org Renewable Energy 24
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 18.17
per cent by November 2017.
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% 18.17%
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 November 2017
Source: Ministry of New and Renewable Energy (MNRE), Central Electricity Authority (CEA), Greenpeace India
Renewable Energy
CASE STUDIES
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SUZLON ENERGY LTD (SUZLON)
12
86
.25
6
22
39
.71
52
4,2
35
.59
3,3
44
.03
2,8
94
.44
3,4
17
.47
3,0
26
.16
3,2
64
.46
3,1
92
.71
1,5
30
.01
2,0
48
.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 Q1 FY18, it reached Rs 2,701 crore
(US$ 419 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%
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EVOLUTION OF SUZLON
1995- 1996 1998-2000 2005-2008 2001-2004 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
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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%
For updated information, please visit www.ibef.org Renewable Energy 29
EVOLUTION OF WEBSOL ENERGY SYSTEMS
1994-1999 2000-2001 2005-2006 2002-2004 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
Renewable Energy
INDUSTRY
ASSOCIATIONS
For updated information, please visit www.ibef.org Renewable Energy 31
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
Renewable Energy
USEFUL
INFORMATION
For updated information, please visit www.ibef.org Renewable Energy 33
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$: US Dollar
Wherever applicable, numbers have been rounded off to the nearest whole number
For updated information, please visit www.ibef.org Renewable Energy 34
EXCHANGE RATES
Exchange Rates (Fiscal Year) Exchange Rates (Calendar Year)
Year INR INR Equivalent of one US$
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
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
H1 2017 65.73
For updated information, please visit www.ibef.org Renewable Energy 35
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.
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