One of the earliest international entrants in the India’s power market, CLP, will only invest in zero-carbon emission power projects from here on. That’s according to the chief executive of its Indian arm Rajiv Mishra.
“There is very little chance of growing our conventional portfolio anymore,” Mishra said at the sidelines of a Bloomberg New Energy Finance conference in New Delhi. “A vast majority, if not all, will come from what we call non-carbon generating. That doesn’t mean just renewable energy generation but potentially also transmission and distribution.”
Hong Kong-based CLP had entered India in 2002 by acquiring a majority stake in Gujarat Paguthan Energy Corporation Pvt. Ltd. Since then it has built a portfolio of about 1,000 megawatt across wind and solar energy. It has a flagship 655 MW gas-fired plant in Gujarat and a 1,320 MW coal-fired project in Haryana.
But the future is clear. It is towards zero carbon emissions. The old ways of investing in large coal-fired plants are behind us now.
Rajiv Mishra, CEO, CLP India