Greenko wins big at Asian Power Awards for performance improvement initiatives

The company took home three accolades from the prestigious awards programme.

Greenko Group owns and operates the largest renewable asset portfolio—wind, solar,  and hydropower generation plants—with a total installed capacity of 7.2 GW strategically located across India to harness national and other electricity grid infrastructure. Greenko is also developing grid-scale, off-stream, long-duration energy storage projects.

Renewable energy company Greenko was lauded at the esteemed Asian Power Awards, securing victories across three categories for its commendable efforts in enhancing the performance of its wind and solar assets. The company currently has 3.2 GW of wind capacity and 2.2 GW of solar capacity in operation.

Dedicated to sustainability in both operational practices and environmental impact, Greenko's wind assets spread across various zones contribute significantly, amounting to 36% of its total energy generation. Presently, Greenko Wind boasts an operational capacity of 3.2 GW. 

In addition, Greenko’s solar assets, located in multiple solar zones of India, contribute to 19% of its energy generation. Greenko has installed 2.2 GW of solar PV, accounting for 3.81% of total solar capacity installed in the country.

Central to its operational ethos is an unwavering commitment to innovation and improvement across its assets. This commitment is evidenced through meticulous analysis aimed at ensuring a reliable, long-term generation profile. By leveraging validated wind data, robust project designs, and stringent commercial return criteria, Greenko strives to deliver consistent performance.

Setting itself apart from conventional approaches in the Indian wind and solar energy market, Greenko opts for an independent developer model for its wind and solar portfolio development. This entails the phased development of 50 to 200 MW-sized wind projects and up to 500 MW size of solar projects fostering sustainable, reliable generation in the long run.

In recognition of its achievements, Greenko's diversified portfolio of clean energy projects, both operational and in development, is heralded as an attractive and sustainable asset class for the Indian market.

The grid parity achievement of the Group's wind, solar, and hydro portfolio, coupled with India's growing inefficiency in delivering cost-effective power from fossil fuel sources, reflects that Greenko is well positioned to provide financially attractive, sustainable, and long-term returns. 

Meanwhile, the company's solar endeavours also garnered acclaim for their innovative approach to enhancing generation efficiency. Through initiatives such as solar backtracking, aimed at minimising shading and optimising panel angles, Greenko achieved notable improvements in performance and revenue, with a remarkable reduction in hardware costs.

This strategy improved performance and revenue by approximately 2%, owing to more precise angle control as well as process control through software. It has also optimised the hardware cost from a whopping $2000 per controller down to $200. It has also mitigated mismatch between Inclinometer and Controller-eliminated, as well as obsolete component & supplier difficulties.

At the Asian Power Awards, Greenko's outstanding contributions were duly recognised, with accolades including Independent Power Producer of the Year - India, Wind Power Project of the Year - India, and Power Plant Upgrade of the Year - India. These accolades underscore Greenko's commitment to innovation and sustainability in addressing the challenges posed by climate change and meeting the escalating energy demands of the future.

The Asian Power Awards, now in its 19th year, celebrates and honours companies and projects that have taken innovative and game-changing steps to address the effects of the climate crisis and meet the growing demand for energy.

The Asian Power Awards is presented by Asian Power Magazine. To view the full list of winners, click here. If you want to join the 2024 awards programme and be acclaimed for your company's revolutionary innovations and initiatives in the power industry in Asia, please contact Julie Anne Nuñez at [email protected].