The use of fossil fuels is threatening to change life as we know it. Rising temperatures are changing landscapes, threatening wildlife and altering weather patterns all over the world. The electricity generation industry alone accounts for one-fourth of all greenhouse gas emissions.
Understandably, climate change gas emerged as a serious priority for us all. The rate of future development and deployment of cleaner energy technologies will determine to a large extent whether climate change will remain manageable. Meeting the world’s increasing need for energy is a crucial challenge. In the search for solutions, renewable energy sources have gained importance.
In order to create an integrated clean energy portfolio to cater to our ever increasing requirements without endangering nature and restore it for our future generations, Konark is harnessing energy sustainably from natural elements – wind, water, sun and earth.
The company plans to be an Independent Power Producer (IPP) having exposure of nearly 150MW of renewable power up to FY14. To start with Konark would focus on solar and wind power projects considering the lower gestation periods.
Keeping in mind steadfastly growth and expansion; Konark Group has already structured the platform for 50MW of solar power projects in Rajasthan by securing over 425 acres of land and has obtained power evacuation approvals from the State Transmission Utility (STU) of Rajasthan to execute these projects under the National Solar Mission and the Rajasthan state policy. Konark is aggressively looking to bid for other projects in Madhya Pradesh and Maharashtra and also newer projects in Gujarat under their respective state policies.
The company is also in process of finalizing sites for wind power generation wherein they would start with 25MW of wind power plants initially. This project will be split in 2 phases of 10MW and 15 MW each. Gradually the company plans to expand its wind power portfolio to over 50MW.
Konark is looking to enter the hydro and bio mass power generation space as well; through the inorganic route. This would position Konark as a niche player in the non-conventional energy sector and it would be one of the first players to be a complete renewable energy IPP.