The Indian power sector is undergoing a significant change that has redefined the industry outlook. Sustained economic growth continues to drive electricity demand in India. Government of India’s focus on attaining ‘Power for all’ has accelerated capacity addition in the country. On the renewables front, India has set a target to have 175 GW power projects operational by March 2022.
The Indian power sector has an investment potential of INR 15 trillion (US$ 222.36 billion) in the next 4–5 years, thereby providing immense opportunities in power generation, distribution, transmission, and equipment manufacturing. The energy club at Indian School of Business (ISB) has been constantly engaging in creating awareness and discourses regarding the challenges faced by the industry. The Energy Club at the school has been taking initiatives to educate students at ISB about the unique opportunities in this space and how new business models are being created.
Tapping into the rich experience of the student body at ISB, several interactive sessions have been organized for peer to peer learning, on topics such a¬s ‘Future of Smart Grids’ and ‘Micro-grids’. One of the sessions was titled ‘360 on energy consulting’ and involved interactions with ISB alumni regarding niche spaces in renewable energy consulting. Another session involved an industry-deep-dive into the nuances of the energy sector and its constant evolution through innovation.
A key highlight for this year’s activities was a panel discussion on ‘Scenarios, policies and potential opportunities in the renewable energy sector in India’ organized on July 13, 2016. The event was sponsored by Wevio Global Inc., which is a global investment gateway firm actively looking for investments in the renewable energy space in India.
The panel included industry leaders from India and delegates from South Korea who shared their knowledge of different domains, and explored future opportunities and challenges within the renewable energy sector. Mr Kim Hyung Jin, General Director, Green Energy Institute, South Korea spoke about the South Korean government’s investments in research in the smart grid and renewable energy technologies through the Green Research Institute, South Korea. Mr Calvin Yi (CEO, Wevio Global Inc.) explained that South Korea has used renewable energy sources for more than ten years, and is keen to continue the development of similar technologies in the future.
The panelists briefly discussed the history and growth of the renewable energy market, and spoke about a range of market opportunities, research and policies across solar and wind energy technologies and waste management. Mr K. S. Venkatgiri (Executive director, CII GBC), indicated that close to INR 0.85 trillion have been invested in the last three years in the renewable energy sector in India, and a similar magnitude of investments are likely to be made in the future. He mentioned that the cost of power with storage is expected to drop tremendously by 2025.
These events not only create a platform for industry speakers to interact with the students but also serve as a showcase for the fifty-member energy club, which consists of students with rich and diverse professional backgrounds ranging from renewable energy R&D to oil and gas. The club endeavours to create a holistic learning environment and provide its members with new and exciting vistas of future opportunities.