Sri Lanka, Nepal & Bangladesh offer bright prospects for Indian renewable firms

Chennai- Three neighbouring countries — Bangladesh, Sri Lanka and Nepal –present substantial opportunities for Indian companies in the renewable energy space due to renewable project pipelines of up to 1 GW each as also the potential to add 10 GW by three nations put together over the next 10 years

All three countries have set ambitious renewable power targets due to limited scope for expansion of thermal or hydro power capacity, the dominant sources of power in Bangladesh and Sri Lanka, and Nepal respectively.

Bangladesh and Sri Lanka together plan to add 8 GW renewable power capacity by 2030. Nepal aims to increase the share of renewable power in its energy mix from 5 per cent to 15 per cent in the same period. As a result, there will be substantial opportunities in wind, utility scale and rooftop solar power markets, according to a report by renewable energy consulting firm Bridge to India.

The three nations have limited manufacturing capacity and local players often lack technical and financing expertise for project development. The markets present attractive business opportunities for Indian project developers, contractors and equipment suppliers across different market segments.

The Hindu Businessline