AVP, Corporate Planning
Greenko generates value by pursuing its mission “Leading decarbonization, digitalization, and decentralization of the energy sector in India”. Greenko has launched new sharing business models of Pumped Storage and Intelligent Energy Platforms – transforming renewable energy into reliable, schedulable, and flexible energy and moving closer to customers.
The digital revolution as well as renewables, and smart grids are triggering new business models and regulatory frameworks. The energy markets and competition for customers are shifting to the online channel. Also, the Internet of Things (IoT) driving new product and management options, with digital companies and start-ups disrupting the landscape, while governments and regulatory bodies seek to encourage smarter measuring systems and greener standards for energy generation and consumption. Besides, digitalization has offered an enormous opportunity to manage generation more efficiently and in the case of renewables, it offers options to generate reliable, schedulable, and flexible energy. To thrive amidst these challenges, the utility of the future – Greenko, will be a decarbonized and digitalized system. This transformative journey will affect enhancements in productivity, reliability, safety, customer experience, compliance, and revenue management, while significantly contributing to the mitigation of climate change and the catalyzation of socio-economic development. In India, Greenko’s next-generation energy utility promotes energy security by avoiding imports of non-renewable resources and financial stability by offering no-escalation-of-electricity-prices. There is a growing preference amongst B2B customers for renewable energy as these are committing to deeper cuts in GHGs to reach Net Zero Emissions by 2050. This is becoming possible with the price parity of renewables and flexibility achieved by next-generation electricity utilities
Increased share of RE is pushing greater intra-day variations for baseload coal, demanding more flexibility from RE generators. Also, it is a known fact that in India there is a limited flexible generation compared to other countries. In addition, 40 GW of generation capacity based on coal in India is generating power at a cost more than Rs.4.20/kWh and RE Storage hybrid can potentially compete with such capacity. Also, there are pools of value that Integrated Storage projects can tap into. In order to harness this opportunity in schedulable RE- value pools in the power sector in India, Greenko has planned for Integrated Renewable Energy Storage projects.
The electric grid of the future would be following the five principles:
These principles would help “future-proof the grid with the flexibility, resilience, and scalability to meet future needs. Further, the attributes for the “future” distribution edge platform will be:
In this new scenario, the new value pools in different segments of value chain will be;
Transmission and Distribution
It is clear that schedulable renewable is the pathway for deeper decarbonization and advances in digital technologies combined with storage technologies will make it possible in India. A similar aspiration is articulated by Global Solar Alliance led by India- “One Sun, One World, One Grid”.
Greenko’s new generation energy utility is designed to harness vital value pools proactively by developing state-of-the-art multi GW scale Integrated Renewable Energy Storage Projects “IRESP”. The group has plans to develop Integrated Renewable Energy projects with a total capacity of 40 GWh across 5 states of India. Currently, the Pinnapuram IRESP, Saundatti IRESP and MP 30 gandhi sagar standlone pumped storage project (SPSP) in the states of Andhra Pradesh, Karnataka and Madhya Pradesh respectively, are in the pre-construction phase with a total capacity of 8.7 GW. The IRESPs are expected to harness the power of solar and wind resources with digitally connected storage infrastructure to provide scheduled and flexible power to the grid.
The IRESPs are combined with Intelligent Energy Platforms to offer flexible renewable energy that can harness many value pools in the electricity system. The business model is a ‘sharing platform of energy storage and energy management’ that offers multiple services to RE generators, grid, distribution company, and consumers.
Value Pools Harnessed by Greenko’s IRESP projects
Pinnapuram Integrated Renewable Energy Project Overview
The Pinnapuram IRESP consists of four key components which are as follows,
The Pinnapuram Integrated Renewable Energy Storage Project (IRESP) is conceived as the world’s first and largest gigawattscale integrated project with solar, wind, and pumped storage components. All three components of Pinnapuram IRESP are in close vicinity of each other and therefore, power from all three components will be pooled commonly.
Saundatti Integrated Renewable Energy Project Overview
Greenko’s second Integrated Renewable Energy Project is planned to be developed at Saundatti, Karnataka, which is currently in the design phase and is planned to have similar components and design features as that of the Pinnapuram IRESP. The four key components of the projects are:
These IRESP Projects can meet the dynamic needs of DISCOMs/STUs, through: