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Event | December 2011

In future we need about 300 - 400 MW per week

A two-day power conference with a focus on 'Managing risk in challenging environments' was held by Marsh at Grand Hyatt in Mumbai. The first session on day two based on the theme 'Key financial viability parameters and risk transfer solutions' was chaired by C Ramulu, CFO, Hinduja National Corporation. The speakers were Kelvin Kwan, Insurance Officer, International Finance Corporation (IFC), Washington, Sadashiv Rao, Chief Risk Officer, IDFC, Amod Khanorkar, Rating Head and General Manager, CARE Ratings, Ashwani Kumar, Deputy GM, General Insurance Co (GIC) and Krishnakumar, Managing Partner at IL&FS Investment Managers (IIML).

Kelvin Kwan in his presentation about 'Importance of risk management for non-recourse financed power projects' said, "We invest in technology leaders who focus on applying existing technology to help bring down the cost of RE to grid parity by innovative solutions." Sadashiv Rao in his presentation about key risks in power projects said, "The biggest risk is the fuel risk. There is a gas and coal risk. We have projects based on the KG Basin gas but the gas output is reducing. It was supposed to deliver 80 million cubic metres a day but it is hardly generating half of that so plants that are set-up based on that gas are going to be stranded." Krishnakumar spoke about major risks in tariffs, fuel supply, land acquisition, some operational challenges and key risks particular to renewable energy. He added, "In future we need about 300 - 400 MW per week for the next 10 years. Our target is to add about 120,000 MW in the next 5 years and a significant sum is going to come from the private sector. So we cannot ignore this sector and we need to focus on it and grow this sector." Amod said, "The distribution segment is the key to success as far as the power sector is concerned so we need to see traction in this space."

In view of the time constraint for speakers, Ashwani Kumar quipped that Ramulu was like Bhishma and he, the last speaker for the session, was the last of the Pandavas.
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