Page 39 - Apraava Energy Report_01-73

Apraava Sustainability Report 2020-2021 39
From Apraava Energy’s perspective, the market landscape is
evolving rapidly with tariffs for renewable energy projects
reaching historic lows amid intense competition from
participants belonging to both public and private sectors and
lower funding costs. There are certain challenges during the
implementation and operations phase of Renewable Energy
(RE) projects that are being actively addressed with support
from central and state government agencies. From the
medium and long-term perspective, Apraava Energy remains
firmly committed to the market and its strategy of focusing
on decarbonisation and renewable energy projects. Our
growth plan envisages significant capacity through the
organic route by investing in standalone and hybrid projects
involving wind, solar and energy storage.
In line with its shareholders’ ideology of investing only in low
carbon businesses, Apraava Energy will focus on investment
opportunities in transmission and other customer-facing
businesses, insofar as the conventional business space is
concerned. At Apraava Energy, we strongly believe that in
the short to medium term, large investments will be needed
in building and beefing up inter-state and intra-state
transmission networks to support the projected exponential
growth in renewable energy generation across the country.
Apraava Energy will pursue upcoming opportunities in the
transmission sector in alignment with its organisational
business growth plan to augment RE growth in the country.
We also foresee investment opportunities in customer-facing
Apraava Energy has continued to maintain its existing
transmission line asset to the highest standards and achieved
close to 100% availability during FY 2020-21 despite various
challenges emanating from the COVID- 19 pandemic.
businesses in the medium to longer term which we will pursue
on a selective basis in order to deliver value to all
stakeholders while supporting the sustainability of the
business value chain.
Robust selection criteria, judicious capacity risk assessment
and full compliance with internal code & conduct of
standards makes Apraava Energy’s approach to conventional
business distinctive.
Apraava Energy has continued to maintain its existing
transmission line asset to the highest standards and achieved
close to 100% availability during FY 2020-21 despite various
challenges emanating from the COVID- 19 pandemic. At the
same time, Apraava Energy has also been working to
complete due diligence and conditions precedent for
acquisition of an inter-state transmission project in the
north-eastern part of the country. Further, significant
progress has also been made for participation in the next
round of bidding for greenfield projects.
One of the biggest challenges experienced due to the
pandemic was the restriction imposed on travel and
movement of resources. Most site activities had to be
managed remotely. However, Apraava Energy, with the help
of its upgraded IT infrastructure and dedicated workforce has
been able to manage these challenges effectively.