The Renewable Energy Demand Enhancement (REDE) Initiative for Commercial & Industrial (C&I) consumers aims to build an alliance among corporate buyers to increase commitment to renewable energy (RE) procurement and catalyse solutions to address challenges that are significantly restricting demand.
The Government of India has prioritised climate change and promotion of Renewable Energy in India. India’s updated NDCs includes a commitment to achieve about 50 percent cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030. Further India has also set a Net Zero target by 2070. The objectives are also to enhance national energy security by expanding and diversifying the fuel mix; drive sustainable economic growth and ensure that development is aligned with India’s clean energy commitments. Proactive policies, strong investor sentiment, cohesive public and private sector participation, sharp decrease in costs, and support from the states has helped increase RE capacity to a total of 120 GW.
Commercial and Industrial (C&I) consumers use approximately 50% of the total electricity generated in India, most of which comes from conventional fuels. This customer base presents a major opportunity for RE, as the Government pursues its target. Increasing C&I consumer commitment and aggregating their demand can provide significant predictable off take for the expected upcoming volumes of RE power.
While the business case to adopt RE is stronger today than ever before, the process is very challenging for corporate buyers. Uncertain, complex and often conflicting national and state policies and regulations, inadequate awareness and compliance of implementation processes, technological issues, real and perceived costs, and operational inertia are the major deterrents to large-scale offtake of RE.
Renewable Energy Demand Enhancement (REDE) Initiative for Corporate Buyers in India
WWF-India and Confederation of Indian Industry (CII) partnered to develop REDE initiative that will promote RE demand from C&I consumers, provide a national forum to discuss the challenges to large-scale corporate RE procurement, and present them to stakeholders to evolve practical and commercially viable solutions.