Energetica India Magazine December 2020

from the wide variety of start-ups that demonstrated passion, commitment, and incredible creativity to resolve the country’s energy challenges. It is too early for us to determine the character- istics of the second edition, but we are determined to capitalize on the success of the first edition and hope to draw more startups year by year. How has been the year 2020 for EDF amidst Covid-19 scenario? Any chal- lenges faced? H armanjit N agi : Our key priority during this time was to respect the sanitary measures and protect our employees and contractors. That’s the reason why we have been adjusting with the waves created due to the ongoing pandemic, just like for most businesses. The sani- tary crisis has inevitably had certain im- pact on the execution of our projects but the energy sector is already bouncing back, and we are looking at the future with confidence. Our Indian business - es and administrations did a great job continuing to function as far as possible throughout this crisis. It is during this difficult period that EDF was awarded 3 solar projects of 300 MW each, to be built by 2022. This has helped to push us to the top 15 players in the renew- ables business in India. What we’d like to stress upon is that the energy sector has the potential to play a major role in the economic revival after the crisis and has the potential of creating quali- ty jobs, especially in the fields such as renewables, smart city and energy effi - ciency. What will be the EDF’s investment and expansion plans in New Year? H armanjit N agi : EDF has been present in India for more than 25 years and is always on an outlook for newer oppor- tunities of expansion in India. Our aim is to be one of the key partners in the country’s ambitious energy develop- ment program. The latter puts a strong emphasis on building a low-carbon electric system. EDF is active in all ar- eas of the business: generation, trans- mission, distribution, energy supply and trading, energy services. We are more than happy to bring our know-how and experience in all the fields that are cru - cial to turn this ambition into reality. To achieve our common goals, we intend to hire many engineers and technicians both in solar and wind energy fields by 2021 and to keep looking for creative and inventive Indian start-ups. We are keen to implement solutions that best fit Indian context. Recently, the solar tariff in India dropped to Rs 1.99/kWh in an auc- tion. How do you analyze this as a solar project developer? H armanjit N agi : EDF is determined to support India’s low-carbon transition and is confident that the solar rates can keep on deceasing if the price of the equipment continues to decrease and the Indian economy performs with strong rupee, low inflation, low inter - est rates, and also if no new taxes are imposed on this activity. Worldwide capacity increased by a factor of 66, between 2004 and 2015, from 3.7 GW to 247 GW. Meanwhile, the price of pho - tovoltaic modules was reduced by 90% over a 10-year period. To achieve the most competitive tariffs in India, the cost of investment must be continuously optimized. This context will allow the implementation in the Indian market of improved technologies such as bifacial and higher efficiency solar panels, more performant wind turbines with higher capacity and larger diam- eter, or also other innovative solutions, such as molten salt storage solutions for solar electricity or wind and solar hy- brid installations combined with energy management systems. These solutions are now being experimented in some countries. EDF has bid Rs 2.77 per unit (kWh) for its latest wind project in India. Our 1,350 MWp capacity in Rajasthan will also supply power at Rs 2.37 per unit by 2022.The ability to achieve low rates is driven mainly by the each project solar resource, the cost to build a solar farm and the cost of capital in the country. Regarding the cost of solar power pro- duction (LCOE), India ranks well com- pared to other countries. Nevertheless, even lower rates can be obtained in oth- er countries like in the UAE where EDF stroke a record-low recently. INTERVIEW 16 energetica INDIA- December_2020