India, with an annual energy production of 1,006 terawatt hours (TWh) of energy is the fifth largest producer/ consumer of energy in the world and is projected to have the highest demand for energy by around 2035. The vast availability of natural resources coupled with the substantial land mass, lengthy coastlines and a variety of geographical features makes it one of the most suited for production of energy via conventional as well as nonconventional sources.
The increasing costs of conventional sources of energy, their dramatic and destructive effect on the environment and their unsuitability to continue meeting India’s growing energy needs have all contributed to the recognition that non conventional sources of energy like solar, wind and tidal energy are going to contribute significantly to the development of the sector in the coming years. According to a research report on the power sector in India, the total thermal installed capacity stood at 168.4 gigawatt (GW), while hydro and renewable energy installed capacity stood at 40.5 GW and 31.7 GW, respectively as of April 2014. Further Investments to the tune of Rs. 20,000 crore were expected in the Wind energy segment.
The sector has been witnessing higher investment flow than ever before following policy liberalization in the sector. Statements by Mr. PiyushGoyal, Union Minister for Coal, Power and Renewable energy indicate he believes that the Indian power sector’s potential for investment to be up to Rs. 15 Trillion and that the government had taken steps to achieve a capacity of 100,000 MW by 2022 through the National Solar Mission. The government has also allowed for upto 100% FDI in the electrical machinery sector and the installed power capacity in the country is expected to reach 350 gigawatts (GW) by 2022, on the back of economic development and increasing industrialization.
The objectives forming basis of the energy policies in India are energy access, security and mitigation of damage to the environment. Though these are closely related to each other, the ground realities in the country sometimes cause contradiction between the three. This, coupled with the increasing competition in this sector often gives rise to issues/disputes. We, through experience achieved after extensive research and work in this sector are uniquely positioned to meet the needs and resolve all queries in this and it’s associated, ancillary fields to our clients’ complete satisfaction.