The Power Business Group has been formed to explore emerging opportunities in the thermal and hydro power sector through both greenfield and inorganic expansion.
The power sector is poised to grow significantly. India has an installed capacity of about 175 GW with thermal and hydro power contributing 65 percent and 22 percent respectively. The balance is made up by renewables (10 percent) and nuclear (3 percent). It is estimated that the generation capacity required in 2017 to sustain India's economic growth will be an additional 100 GW. Thus private sector contribution to meeting the nation's power needs is expected to rise substantially.
The Aditya Birla Group is well-positioned to explore the potential of the sector with its large installed base of captive power plants in various businesses and its exposure to mining.
Renewable energy, especially solar energy, has been identified as a sunrise business opportunity by the Aditya Birla Group.
The Government of India under the Jawaharlal Nehru National Solar Mission (JNNSM) has set an aggressive target of 1,100 MW by 2013 (11th Five-Year Plan) and 20,000 MW by 2022 (13th Five-Year Plan). In addition, many state governments have announced state policies on solar energy aided by the fledgling Renewable Energy Certificate (REC) Government initiative. A total potential of 64,000 MW by 2022 is estimated by business research analysts.
The solar team has evaluated the complete value chain of solar power, shortlisting the areas that match our Group's interests. The team is currently focussed on the development of utility scale solar power plants to position itself as an independent power producer (IPP) based on photovoltaic (PV) technology. It is also currently participating in the development of a 5-MW solar PV plant in Rajasthan, apart from various national and state government programmes to develop multi-MW solar PV power plants.
Going forward, the team expects to play a significant role in shaping the country's solar policies. Besides, the team is also eyeing the Group's internal requirement arising from the Renewable Purchase Obligations (RPOs) of Group companies. Introducing solar power into the Group's energy mix will provide focus on energy sustainability within the Group's businesses.
Essel Mining India Limited (EMIL) forayed into power generation in 2005 by installing 75-MW windmills at Dhule in Maharashtra, demonstrating EMIL's commitment to the environment and sustainable development. The division is registered with UNFCCC as a 'Clean Development Mechanism' (CDM) project under the Kyoto Protocol, which entitles it to get carbon credit revenues for a period of 10 years.
A US $41 billion corporation, the Aditya Birla Group is in the League of Fortune 500. It is anchored by an extraordinary force of over 120,000 employees, belonging to 42 different nationalities.
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