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Report | November 2011

Bridging the energy gap

The Lloyd's Register group, involved in 30 GW worth of power projects in India, organised a conference in Mumbai to present an overview of its global and Indian operations and to address issues and challenges in supporting India's energy sector. R Srinivasan reports.

To present an overview of Lloyd's Register's (LR) global and Indian operations and address issues and challenges in supporting India's energy sector as they 'bridge the power gap' to grow cleanly, safely and efficiently, the group organised a conference in Mumbai. It was addressed by Richard Sadler, Chief Executive, LR, Peter Beckingham, British Deputy High Commissioner, Western India, and K Swaminathan, GM, LR South West Asia.

Lloyd's Register is associated with the shipping and shipbuilding, oil and gas, refineries, steel, manufacturing and power sectors. Currently, it is involved in several power projects in India with an incredible 30 GW worth of power projects in India. Lloyd's Register Quality Assurance is one of the world's largest international certification bodies. The company has also been fundamental in helping ensure the success of the Sino-India power trade and also provided 75 per cent of the third-party assurance for this bi-lateral power trade.

The company is the number one provider of compliance services to private generation companies in India. In the government sector, it is the only private agency authorised to inspect power plant boilers. When queried to what extent this will improve the company's profitability, K Swaminathan, said, "Opening up of the IBR inspection to LRA in India has opened up immeasurable opportunities. Boilers exist in a wide range of sectors and not only in high-value, asset-driven industries like the power sector, refining and petrochemical sector. So, in a true sense, the opportunities are huge. Boilers are critical assets that need to be of high quality and reliable to secure the safety of life and property. So the growth of our group in this sector will be constrained not by opportunities, but by the amount of people we can recruit who can meet the stringent requirements of government authorities and so it does not translate into numbers."

The group has a 70 per cent share in non-marine business (about £10 million) in India and intends to double its revenues - currently from £860 million. To a query about the breakup in terms of renewables, oil and gas and nuclear, he said, "Currently our presence in nuclear and to an extent O&G is limited as they are still under predominantly government controls. The renewable sector is an interesting sector for us from the carbon trading and clean development initiatives perspective. We have a significant presence in this sector as both reviewing and validating the various projects in this sector. But close to 80 per cent of the non-marine business in India for us is in the thermal, downstream and manufacturing sectors."

Richard Sadler said that LR is looking to double its income from India in the next three years. When further queried for certain specifics, he quipped, "Let's have a press conference in 2015 and I'll give it to you in exact figures."
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