.Kreate Energy, previously known as Mittal Processors Private Limited (MPPL) is known to be one of the leading power trading companies in India. They have been trading since 2009 with a record of 35,886.79 million units of trading. The company is planning to develop Utility Scale Ground Mounted Solar Power Project to cater to their consumer and industrial customers through open access. They have worked closely with various state governments and government agencies and are actively seeking international expansion. Kulbhushan Mittal, Managing Director of .Kreate Energy spoke to BE’s Isha Chakraborty about the current situation of the power sector in India.
Q) What is India’s power requirement per day? Is the power supplied at par with demand?
A) India’s energy requirements are set to grow 4.2% annually till 2035, which is faster than that of all major economies in the world. India is the fourth largest energy consumer after the United States, China, and Russia. As of today, on an average, the power requirement in India is about 15 MWh. If calculated yearly, power demand in 2018-19 is around 1, 04, 297 Million Units (MU) and availability is 1,03,761 MU. Therefore, the demand and supply is almost at par as per the Central Electricity Authority.
There are certain challenges that our country faces when it comes to meeting power requirements, which include issues like security of supply to keep up with demand and the fight against climate change. To put the situation in numbers, during the fiscal year 2016-17, the energy availability was 1,135.334 billion KWh with a short fall of requirement by 7.595 billion KWh (-0.7%) against the 1.1% surplus anticipated.
Q) Has the amount of power consumed everyday increased or decreased over the years?
A) Like I already mentioned, India’s energy requirements are expanding but to quantify and compare in numbers, our per capita consumption in the year 1974 was 126.2 KWh, which increased dramatically and in 2017, our per capita consumption was 1122 KWh.
Q) What are the different targets that private companies or government organisations are trying to achieve?
A) According to the fast growing requirements of power, both, private and government organisations in the sector have geared up to meet the requirements in the years to come. Our country has not only adopted renewable energy, but there is a major paradigm shift in the approach towards renewables as a concept. The Indian government has set an ambitious target of installing 175 GW of renewable power capacity by the end of 2022. This includes 60 GW from wind, 100 GW from solar, 10 GW from biomass and 5 GW from hydro.
In its effort to bring energy to the door-step of those without it, the government has announced that it has successfully “electrified” 100% of India’s villages through their campaign called ‘Power to All’, with the goal of 24x7 power by 2022, mainly through renewable sources of energy.
Q) What are the different government policies that have helped this sector?
A) In addition to the fact that the Indian Government is committed to install 175 GW of renewable power capacity by 2022, the Renewable Energy Ministry has also decided to initiate multiple strategies to promote solar energy, like the Solar Park Scheme, for setting up over 50 Solar Parks and Ultra Mega Solar Power Projects targeting generation of over 40,000 MW. Along with the above, the government is also looking at schemes for setting up 1,000 MW of Grid-Connected Solar PV Power Projects by Central Public-Sector Undertakings (CPSUs) with Viability Gap Funding (VGF).
Q) How is the new-age economics with its stress on clean energy sources and sustainable development creating new power shifts?
A) Renewable energy is slowly becoming the preferred source of power generation in today’s time. Renewable energy is the fastest-growing energy source, accounting for 40% increase in primary energy. The energy mix by 2040 would be the most diversified the world has ever seen. To mention some achievements in clean energy projects in India, the Kurnool Ultra Mega Solar Park and the Pavagada Solar Park cannot be missed. The Kurnool Park generates more than eight million KWh of electricity in a day and Pavagada has a capacity of capacity of 2,000 MW. In the big game of power sector, .Kreate has been contributing widely for the last couple of years. At .Kreate Green Energy, our customised Build Own Operate (BOOT) and Engineering Procurement Construction (EPC) services aim at delivering innovative solutions essential in combating potential power crisis and climate change.
Q) What have been your major achievements?
A) .Kreate Energy is consistently among top two power trading companies, as per CERC’s Market Monitoring Report. Since 2009, when we got our Inter State Trading License from the CERC, we have traded in over 34 utilities and 829 open access clients.
.Kreate Green Energy has achieved an installed capacity of around 1000 KW under Solar Rooftop Installations and another 1000 KW is in progress. In the utility department, we have expanded trading footprint in the southern region with major corporations. In addition to that, we have entered into Cross Border Trading by Category 2 trader. For the first time, we have entered into trading with Gridco.
Q) Are you planning to bring any technological advancement?
A) Our technology division, is one of the most progressive software development organisations in India, offering state-of-the-art IT solutions backed by services like AI (Artificial Intelligence), UI/UX designing, CMS based website development, mobile application development, ERP solutions, lead management software, open access software, energy forecasting, power portfolio management system along with others.
Q) Do you think that coal can ever become a cleaner form of energy?
A) The generation of power in India depends heavily on fossil fuels. We do realise that most of these resources (coal, oil, etc.) are limited in supply and one day they will be depleted. Usage of coal would never be able to mitigate the gas emissions and hence, it stands as a major contributor to global warming. It is observed that Indian society’s paradigm of ‘energy’ is transforming and therefore, India is now undertaking huge projects in the Renewable Energy Sector.
Over the years, we have established ourselves as providers of clean and efficient energy with support services which include customised solutions, advisory, project development and support.