This chapter talks about making grid scale renewables work, drawing especially from his experience with the wind sector. First and foremost, he suggests consistent, realistic policy support, which can give industry a combination of a lofty target as well as a realistic pathway to get there. As prices for the Clean Development Mechanism (CDM) have slumped, a domestic push through improved RECs and RPOs (tradable Renewable Energy Certificates and state-level Renewable Portfolio Obligations) are recommended. In addition, coordination and grid integration are key needs, especially as the scale of renewables becomes larger and larger. In another dimension, cheaper financing as well as means to reduce risks and costs become important, including land acquisition and financial hedging options.
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This chapter is a part of Brookings India’s edited book, “Blowing Hard or Shining Bright? Making Renewable Power Sustainable in India” To view the preface and table of contents, click here.
Sumant Sinha is the Founder Chairman & CEO of ReNew Power, one of India’s largest clean energy companies. Prior to ReNew Power, Sumant was the Chief Operating Officer of Suzlon Energy Ltd. Sumant is a passionate advocate for solutions to climate change through the intersection of business and public policy. He serves as the Chairman of the National Renewable Energy Committee of the Confederation of Indian Industry and was earlier on the SIPA Advisory Board at Columbia University. He holds a B. Tech from the Indian Institute of Technology, Delhi, an MBA from IIM Calcutta and a Master’s degree from Columbia University’s School of International and Public Affairs, where he was a Dean’s Fellow.