By Business India Editorial

Vibrant Energy, a portfolio company of Macquarie GIG, has set its eyes on becoming one of the leading C&I-focused platforms in India with over 2 gigawatt (GW) of projects in two to three years, said a top company official.

“Vibrant Energy will require about $1 billion investment for reaching this target,” said Srinivasan Viswanathan, chief executive officer.

The Telangana-based renewable energy developer has 915 MW of project commitments and over 2 GW of pipeline capacity. 

The company was founded in 2016 to deliver sustainable energy solutions to the corporate and industrial (C&I) sector through the open access route. “We have been delivering consistent savings and sustainable energy to marquee clients in the FMCG, pharmaceutical, and manufacturing sector,” he said.

“We are witnessing a tectonic shift in the way the C&I sector is looking to consume 100 per cent renewable energy. And (we) expect the C&I open access sector to be over 10 GW annually. The sector will spearhead the much-needed change of making the energy markets real-time and delivering round-the-clock renewable energy.

This sector is also consuming a high percentage of sustainable fuels such as green hydrogen and green ammonia. We have made developments in the areas of wind-solar hybrid, storage technology, and sustainable fuels business models,” said Viswanathan.

As a portfolio company of Macquarie GIG, he said, it is well-funded to deliver its commitments and has a business plan to be one of the leading C&I-focused India platforms with over 2 GW of projects in two to three years. 

“In terms of operations, we provide wind, solar or wind-solar hybrid energy to corporate clients in nine key states: Maharashtra, Karnataka, Madhya Pradesh, Uttar Pradesh, Rajasthan, Gujarat, Tamil Nadu, Andhra Pradesh, and Telangana.Apart from the intra-state open access, we are also actively developing several wind-solar hybrid projects which can deliver renewable energy to any state in India through our ISTS wind and solar parks.” 

He said that currently, the company has 132 megawatt (MW) of operational capacity in Andhra Pradesh, Telangana, and Maharashtra. “Project commitments have reached 915 MW, and by 2025 we aim to be a platform with more than 2 GW of renewable projects. In terms of investment, we will require a total capital of about $1 billion, which will be raised through a combination of equity from our investors and lender partners domestically and internationally.”