India in need of fuel mix portfolio: Energy industry leaders

India needs to meet up with the brewing energy crisis, in the time to come.

The main hurdle faced in the gridlock is a capacity shortfall of 110,000 MW of energy. That means 110,000 MW of energy still remains unutilized, since India offers a mere capacity of 130,000 MW for grid connections; though the country's energy capacity is pegged at 2,40,000 MW.

This was the observation made by the industry leaders at a recently concluded energy sector summit.

Speaking at the summit, Ratul Puri, Chairman of Hindustan Power Projects said, "India is a fuel rich country, however, we need to consume and develop both conventional and non-conventional forms of energy to meet the country's energy requirements. Three key factors that need to be kept in mind for developing the energy mix: 1) The pattern of energy demand seen in the country; 2) the availability of fuels; 3) the costs incurred. If the country's energy requirements are not met, India might face an economic lull in 2017-2018."

The non-utilization of 110,000 MW of energy potential arises from a matrix of regulatory issues, including the ones at policy level.

Hence, it is imperative to focus on generating energy from coal thermal sector to meet the immediate energy requirement gaps and address to the need of solar energy to fill up the incremental capacity.

India is far away from its intended goal of mass electrification, wherein, renewable energy can be instrumental in providing complete electrification by end of the 12th Five Year Plan, or the beginning of the 13th Five Year Plans.

India currently has an installed capacity of 12 per cent of renewable energy, which is nearly 30,000 MW, and the country is aiming to achieve 15 per cent in the current five year plan. Hindustan Powerprojects' target to commission 1 GW of solar energy by the end of 2016, would be a significant step in helping India achieve its energy sufficiency.

Given that India's current energy deficiency is in short mid-term, the country needs to take various steps to meet the demand-supply gap of power. Solar could be a good short-term option (6-12 months for commissioning), thermal could also provide a short mid-term option (4-8 years of commissioning) and hydro could offer mid-long term option (6-8 years of commissioning), offering the viable solution for the energy crisis faced by the country.

Hindustan Power Projects is one of the biggest integrated power companies in India. It operates in four major verticals of the energy sector - solar power, hydro power, thermal power and mining services.

The company's growth trajectory is poised for the next leap with a commissioning of 6,020 MW of power over the next few years in the thermal, solar and hydro power sectors.

Additionally, the company is developing over 6,100 MW of capacity using conventional and non-conventional energy sources across India, Europe, and the USA.