Renewable Energy

India’s energy demand is expected to increase more than any other country in the coming decades due to its size, enormous growth, and development potential. Most of this new energy demand may require low-carbon and renewable sources. India intends to achieve net zero carbon emissions by 2070 and meet 50% of its electricity needs from renewable sources by 2030, a historic point in the global effort to combat climate change.

According to the India Brand Equity Foundation, the Indian renewable energy sector is the world’s fourth most attractive renewable energy market. India was ranked fourth in wind power, fifth in solar power, and fourth in renewable power installed capacity as of 2020. Renewable power generation capacity has increased over the past few years, posting a CAGR of 15.92% between FY16-22. With the government’s increased support and improved economics, the sector has become attractive from an investor’s perspective. As India looks to meet its energy demand, which is expected to reach 15,820 TWh by 2040, renewable energy is set to play an important role.

In the renewables sector, the second quarter of 2022 saw a couple of key regulatory developments. To further facilitate and promote the generation, purchase and consumption of green energy, the Ministry of Power issued rules to ease the process of obtaining open access for procurement of green energy. We have also seen the introduction of a new regime to replace the existing framework for connectivity to the inter-state grid. These regulatory developments should further aid in addressing the ever-growing demand for renewable power from the commercial and industrial sectors in India.

As a member of the National Power Committee and Renewable Energy Committee of the Confederation of Indian Industries (CII) and the Power Committee of the Federation of Indian Chambers of Commerce and Industry (FICCI), we have worked very closely with industry stakeholders and government authorities in reviewing and providing suggestions on a variety of legislations, regulations, and policy initiatives.

Trilegal has developed one of the country’s foremost practices in renewable energy and has been active in this sector for over a decade. We have deep knowledge and experience in this sector. Working primarily for investors, project developers, and lenders, we have acted on numerous wind, solar, and hybrid energy projects, small and large hydropower projects, and biomass energy projects. Trilegal is the knowledge partners to the World Business Council for Sustainable Development, the WWF-India, CII-led Renewable Energy Demand Enhancement (REDE) Initiative Advisory committee, the Council of Energy, Environment, and Water (CEEW)’s, the Climate Policy Initiative and the Indo-French Chamber of Commerce and Industry in proposing policy and regulatory measures to enhance the development of renewable energy capacity and for stronger procurement by commercial and industrial consumers.

We have experience advising clients on various aspects of developing renewable projects for captive and open-access segments. We regularly advise multilateral and export credit agencies, commercial lenders, developers, sponsors, and construction companies on various forms of credit facilities, including project and equipment finance, dominated both in rupees and foreign currency.

Some of our clients in this space include –

• IFC
• Macquarie
• Brookfield
• Copenhagen Infrastructure Partners
• Actis
• Arcelor Mittal
• CLP India
• Shell
• Mitsui
• O2 Power
• Radiance
• Sterlite
• Statkraft
• Virescent
• Cleantech
• US EXIM Bank
• Alfanar
• Amplus Solar
• Amazon Web Services
• NTPC Renewables
• Enel Green Power
• GE