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Page 1: RENEWABLE ENERGY - Business Opportunities in India ... · PDF filesector in India as the market players have sufficient incentives to move to clean ... The renewable energy space in

For updated information, please visit www.ibef.org July 2017

RENEWABLE ENERGY

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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

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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. This has been proving to be the major thrust for the

sector in India as the market players have sufficient incentives to move to clean source.

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.

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$ 5 billion up to June 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

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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$ 5.85 billion between April

2000 and June 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

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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)

44

.61

32

.51

13

.11

8.3

0

4.3

8

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 Biomass Small Hydro

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 July 2017

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 amounting to 2,011 GW in 2016

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 July 2017, total renewable power generation installed capacity

in the country stood at 103.92 GW, which is 31.2 per cent of the

total installed capacity

Hydro power forms the largest source of energy constituting over 43

per cent of the total renewable power generation 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

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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

2.9

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 July 2017

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 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

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

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 13 GW as of July 2017

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

India is expected to become the third biggest solar market across the

globe in 2017, with 8.8 gigawatt (GW) of capacity addition projected

for the year ahead

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

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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 INR 2.44 per unit in May 2017. Power Purchase Agreements with states have

become important part of the project cycle for Indian companies

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.

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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.

Hybridisation of the two technologies will help in:

• Minimising Variability

• Optimal utilisation 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

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$ 2.05 billion during April 2014 to December 2016.

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.

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

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OPPORTUNITIES

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HUGE UNTAPPED POTENTIAL

13.1 32.5

8.3 4.4

75

0

10

2

25 20

0.0

100.0

200.0

300.0

400.0

500.0

600.0

700.0

800.0

So

lar

En

erg

y

Win

d P

ow

er

Bio

-Po

wer

Sm

all

Hyd

ro P

ow

er

Installed Capacity as of July 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 July 2017, the installed power capacity of renewable energy

sources in the country is 58.3 GW. Out of the total installed capacity,

32.5 GW is contributed by wind power, 13.1 GW by solar energy,

8.28 GW by bio-power and 4.38 GW by small hydro Power.

Recognising 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 July

2017 (GW)

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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)

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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 17.66

per cent by July 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.*

12.92% 13.17%

14.18%

17.52% 17.66%

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: * - Renewable Energy Attractiveness Index by EY

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

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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

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

-

10.00

20.00

30.00

40.00

50.00

60.00

FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16

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

Visakhapatnam port traffic (million tonnes) WEBELSOLAR Revenue (US$ million)

CAGR 15.28%

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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

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Renewable Energy

INDUSTRY

ASSOCIATIONS

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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: [email protected]

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: [email protected] , [email protected]

Web site: http://seci.gov.in

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Renewable Energy

USEFUL

INFORMATION

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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

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EXCHANGE RATES

Year 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

2016-17E 67.23

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

2016E 67.22

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

Source: Reserve bank of India, Average for the year

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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.