The Hindu Business Line : Greenko Group to start green power retailing from 2009

“We have started preliminary work in this direction and the necessary regulatory paperwork has been completed,” Mr Anil Chalamalasetty, Chief Executive Officer and Co-founder, Greenko Group, told Business Line.

After meeting the energy obligations to respective State electricity boards and grid, the excess power will be made available for retailing, he said. “We intend to brand this energy as ‘Greenko Energy’ and are currently in the process of working with companies and business houses that are committed to buying the green power to reduce their carbon footprint,” he added.

The company also has a trading platform to service carbon commodities and to retail green power.

Mr Mahesh Kolli, President and Co-founder, said the energy generated from renewable energy sources such as biomass, hydro, wind and solar projects or carbon neutral technologies is known as green power. “The ability to provide consumers access to green power is called green power retailing or marketing and in comparison with conventional power, green power can command a premium,” he said.

On pricing, Mr Chalamalasetty said that conventional energy, on a power exchange platform, has a spot pricing of around Rs 6 per KWh or slightly higher, whereas on a short term power purchase agreement, one can get around Rs 4.50 per KWh.

“Though green power cannot match the supply of conventional energy, it can definitely command a premium by virtue of its nature and attract similar prices for the small quantities that it would trade in,” he said.

He, however, said that it was hard to put down any number on the sort of revenues they were expecting because it needs to be seen how the market evolves for the ‘product’.

Currently, the company plans to operate it as a separate division but going forward, depending on the requirement, it is open to branching it off as another company.

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