As 2022 involves a shut, business veteran and CEO and Managing Director of the renewable power firm, Jakson Green, Bikesh Ogra, tells businessline how he reads the present state of affairs within the business. Excerpts:
What had been the positives and negatives for the RE business in 2022?
It was a combined bag. Sharp improve in photo voltaic module costs and responsibility boundaries for photo voltaic cells and modules proved to be a double-edged sword, strengthening home manufacturing on the expense of impeding the addition of recent capability. There are over 20 GW of renewable power tasks with PPAs signed throughout open entry and auctions which might be awaiting readability on PSAs and module costs to attract down capital from traders and start development.
Wind capability growth was modest, however the elimination of reverse auctions for wind gave the wind sector a increase of optimism.
What are your main calls for of the federal government?
We expect a more robust and broad-based implementation of policies and laws. More consciousness of how the insurance policies are being put into observe on the bottom is required of policymakers at each the Central and State ranges. As 2023 is a pre-election 12 months, we take into account a slowdown throughout quarters, however we’re hopeful that it is not going to be vital sufficient to impression development momentum.
We urge for a single, complete Central authorities coverage on inexperienced hydrogen —a single legislation, just like the US’ Inflation Reduction Act, 2022. A single legislation is healthier than adopting quite a few piecemeal rules and complicated the business.
Also, we hope to see more funding for rising inexperienced power transition sectors. We will change into more aggressive globally if the finances makes a sizable allocation for the inexperienced hydrogen.
How is the RE business positioned by way of “ease of doing enterprise”?
While a lot is being achieved, there may be scope for enchancment. For instance, the ‘open entry’ guidelines are open to various interpretations between Centre and State, making easy transactions intensely complicated. Similarly, the latest rulings on the Great Indian Bustard subject which didn’t ease enterprise in delicate areas throughout States equivalent to Rajasthan—dwelling to 20-30 per cent of annual photo voltaic installations. Much more must be achieved to make sure there’s actual “ease of doing enterprise” within the RE sector.