Latest news with #AlfanarGlobalDevelopment
Time of India
2 days ago
- Business
- Time of India
Alfanar aims to set up 3-GW renewable energy portfolio in India by 2030; plans up to $700 mn equity investment
Mumbai: Alfanar , Saudi Arabia-based energy company , plans to set up 3 gigawatt (GW) of renewable energy capacity in India by 2030, Mohammed Irfan, chief executive officer, Alfanar Global Development - India, told ETEnergyWorld . 'We aim to develop a 3 GW renewable energy portfolio in India by 2030. With an equity of $400 million to $700 million depending on the mix of solar, wind, and hybrid projects,' he said in an exclusive interaction. Irfan added that for this capacity, the firm is already in discussions with major OEMs and is trying to lock in suppliers for strengthening their development pipeline before participating in the bids. 'Our first priority is hybrid and battery storage . The second priority is standalone solar more. Since our wind portfolio already exceeds 600 MW, we aim to diversify our portfolio with solar and BESS projects,' said Irfan. Regarding partnerships in India, he said that for solar modules, the company will sign long term supply agreements with domestic manufacturers for upcoming projects. In smart meters, the company already has a strategic partner for expanding two million smart meters to up to 10 million meters in the next three to four years, added Irfan. 'We are also in talks with inverter and robotic cleaning tech OEMs. In smart metering , we have a long-term strategic partnership with a climate fund for deploying two million smart meters in Bhopal and Jabalpur in Madhya Pradesh,' he said. On maintaining supply chain resilience, Irfan said that the company has localised about 85 per cent of their project components in India which includes sourcing from domestic turbine OEMs such as Suzlon and Senvion , and using local module suppliers. The company is actively positioning itself as a key player in the global renewable energy transition and has developed a portfolio of about 1.7 GW of renewable energy projects across Spain, India, and Egypt. In Spain, it has developed both wind and solar projects. It has a solar project in Egypt and about 600 MW of operational wind projects in India.
Time of India
3 days ago
- Business
- Time of India
Saudi energy firm Alfanar lines up India green hydrogen play, awaits clear policy signals
Mumbai: Saudi Arabia-based energy giant, Alfanar Group , is preparing to enter India's green hydrogen segment once the country's policy and regulatory framework becomes clearer, Mohammed Irfan, chief executive officer, Alfanar Global Development - India, told ETEnergyWorld . The company has an annual revenue of Rs 620 crore. At present, it has wind power capacity of 506.5 MW operational in Gujarat and while 50 MW is under construction, he said. 'Our focus is on a mix of wind and solar hybrid projects, along with energy storage… We are preparing to enter the hydrogen segment once India's policy framework becomes clearer. Leveraging our international expertise, especially from Egypt and Chile, we aim to replicate successful models in India,' he said in an exclusive interview. He, however, added that while there was growing interest, India still lacked assured green hydrogen offtake agreements. 'Once India's hydrogen market matures in terms of regulatory and policy adaptation or guaranteed offtake emerges, we will definitely be a part of it. In contrast, India's renewable sector benefits from long-term PPAs with entities like NTPC, SECI, and others,' said Irfan. Apart from this, he added that their Saudi team is also working on developing green hydrogen projects in Egypt and green ammonia in Chile. The company is actively positioning itself as a key player in the global renewable energy transition and has developed a portfolio of about 1.7 GW of renewable energy projects across Spain, India, and Egypt. 'In Spain, we operate both wind and solar projects. In Egypt, we have a solar project, and in India, we have about 600 MW of wind projects operational,' said Irfan. The company is also developing a sustainable aviation fuel project in the United Kingdom. On the challenge of grid evacuation, Irfan said that power evacuation and grid connectivity at CTU/PGCIL substations are already constrained, as multiple independent power producers and land brokers have secured access through land acquisitions and bank guarantees for substations scheduled for commissioning up to 2030. As a result, the earliest available connectivity that can currently be applied for at the CTU level is for the year 2031.
