Aditya Birla Group’s flagship metal company Hindalco Industries wants to meet 30% of its energy requirements via renewable sources by 2030. As the deadline inches closer, the company is experimenting with several technologies. One of the alternatives available from which the company has high hopes is the hybrid combination of solar, wind and pumped hydro. “This is a unique arrangement. If this works, it can revolutionise smelting in India,” says Satish Pai, managing director, Hindalco.
The optimism about hybrid technology from a player engaged in an energy-intensive industry has not gone unnoticed. A look at the power sector in the past one year shows a growing affinity for the development and procurement of hybrid energy, which combines different energy sources such as solar and wind.
Power generators such as NTPC, Tata Power, SJVN, Sembcorp and Torrent Power are active in the hybrid energy space. Large industrial states in the country are also ramping up the presence of hybrid power in their energy mix. In the past couple of months, Maharashtra and Gujarat have invited bids for the procurement of 500 megawatts (MW) of wind-solar hybrid power each.
When seen in the larger scheme of things, the importance of the pick-up in hybrid power becomes evident. India has set an ambitious target of installing 500 gigawatts (GW) of renewable energy capacity by 2030. As of April 9, Union power ministry data showed that renewable capacity stood at 190 GW. If the country must meet its target in the next six years, it must add at least 50 GW of renewable energy annually.
Flagging Momentum
This story is from the May 2024 edition of Outlook Business.
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This story is from the May 2024 edition of Outlook Business.
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