According to International Energy Agency, Solar Power could account for nearly a quarter of the world’s electricity by 2050. The bulk of this will be produced by large centralised power plants with off-grid, though important in remote areas and developing countries, will account for little more than 1% of global electricity production.
In India, we believe that off-grid would be important (maybe not in market share compared to grid connected projects) in application to supply electricity to areas where we still do not see electricity 63 years after independence.
The solar PV opportunities in India are huge considering that fact that over 400 million people do not have access to grid connected electricity and given the cost involved in large grid connected projects. Also government incentives in off-grid applications is expected to prompt growth opportunities. The examples of off-grid PV applications include remote village electrification, power irrigation pumpsets, telecom towers, back-up pow er generation, captive power generation and city, street, billboard and highway lighting.
Companies interested in building a portfolio of off-grid assets in India through OPEX model can contact us. We work on creating such opportunities across real estate projects pan India.