Mytrah to invest Rs 21,000 cr in 3 years
Bets big on wind and solar power, uses artificial intelligence and data analytics to forecast and plan turbine performance.
Hyderabad: Hyderabad-based renewable energy company Mytrah Energy Limited which has 2 GW of operating and under-construction capacity. The company plans to invest around Rs 18,000-Rs 21,000 crore in the next three years (at a rate of Rs 6,000-Rs 7,000 crore year-on-year) in wind and solar power.
The company will focus developing a technology bone, particularly artificial intelligence, for predictive analysis and forecasting and efficient running of win assets. The wind power turbines throw up 300 data points every 10 seconds and using this data, Mytrah wants to come out with the best settings. This tool will be an integral part of the company’s offerings.
The company has 16 operational wind power projects across eight Indian States including Rajasthan, Gujarat, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka and Tamil Nadu with an aggregate capacity of 1,000 MW.
Mytrah also has the largest wind data bank in India for about 15,000 GW for wind power, being the only independent power producer with over 200 wind mast locations across the country. In addition to growing its wind power business, the company is also developing its presence in solar power with power purchase agreements (PPAs) signed for 422 MW in Telangana, Punjab and Karnataka and has started construction works at several sites in Telangana and Punjab.
Vikram Kailas, chief executive officer, Mytrah Energy, told Telangana Today, “Industry has reached a stage where it is sustainable on a large scale. From subsidized and high tariff sector, renewable space has seen dipping tariff now. Prices are going down because of technology and innovation. Wind and solar tariffs have reduced significantly. And there are no distribution issues here.”
Renewable capacity addition has surpassed coal power last year. This trend is accelerating No new coal power projects had been sanctioned in the last five years whereas the wind and power had seen continuous bidding. Already 4GW of renewable has happened and another 6GW to happen in the next 3-4 months. Next year, there will be bidding for 15,000 MW.
India is in the fourth industrial revolution. India is going through major transformation. Power demand is increasing and this is opening up a significant opportunity for renewables. From a developer’s side, Mytrah is positioned well in wind power. The new structure that has come up under ‘open access’ is going to give more ability and stability to the grid.
“We have won the first auction under open access. We are hopeful of winning more projects in this route,” Kailas adds.
Vikram Kailas is on the Discom Reform Policy committee and electric vehicle group instituted by the PMO under ‘Champions of Change’ comprising 250 successful CEOs from across India across verticals. When asked what policy reforms do the country need, he said, “Indian Electricity Activity 2003 should be implemented in letter and spirit. The policy should guide on how to adapt to the future rather than adapting to the present and the past.”
The company has recently erected and commissioned the tallest met mast (160m) in the Asia Pacific on November 16 at Kayathar in the Tuticorin belt, Tamil Nadu. With this, Mytrah broke its own record of installing a 150m mast, which was set in October, and was the tallest such mast commissioned in India and the second tallest in Asia.
The renewable power producer is listed on the AIM segment of the London Stock Exchange. The company is one of the largest independent power producers (IPPs) of the Indian renewable energy sector and wants to be India-focused.
Vikram will be part of a panel discussion ‘Into the Unknown: The unfamiliar world of emerging Technology, Big Data and IoT’ in Road to GES on November 27. And Ravi Kailas, chairman of Mytrah Energy will be speaking at the event in the Breakout Session on November 29 titled ‘Getting on the Grid’ which will be focusing on the theme of providing energy solutions to communities living off the grid. Vikram Kailas is an invited delegate at the event.
Source: telanganatoday
