Our assets have grown to 7.5 GW capacity as the operational sites increased from 112 to 133 on account of ORIX assets integration during the reporting period, which has resulted in an increase in the length of our transmission lines, which nearly doubled and the number of wind turbines have substantially increased. Our portfolio of assets is diversified by asset type, geography, off-takers, and technology. Our assets are strategically located across geographies with a favorable history of hydrology, wind, and solar conditions, though some of these are impacted by climate change induced by global warming, which gives an edge in optimising the generation. Greenko’s assets in solar, hydro and wind are spread across 15 states of India.
While continuing the passion and dedication towards in-house asset management of Hydro and Solar, we continue to pursue additional opportunities for enhancing wind assets under WINSOM and implemented additional 382 MW of wind assets to reach total in- house O&M of 560 MW. Across the sites, where we have implemented WINSOM, an improvement in energy-based availability by 1-3 % is witnessed, thereby reducing the O&M costs by 0.17 to 0.25 INR/kWh.
Recent addition of wind assets enhanced our diversity in technologies and geographies resulting in our ability to generate power that is more evenly spread out through the year. During the year FY 20-21, the Plant Load Factor has been negatively impacted due to unanticipated climate changes. Inspite of disruption due to covid & force majeure events, the Plant Availability remains stable at very high level. But amidst this, the Grid Availability across the businesses have improved. Despite the pandemic, our O&M practices have been improved, as evidenced by decrease in Mean Time Between Failures and Number of equipment failures. We also have initiated circular thinking which involves planning for second life and end of life of assets. We have been deploying advanced analytics across our operations to predict the possible failures and initiate preventive actions. Our forecasting and scheduling are improving year on year in both solar and wind assets. This year, we have been able to deliver 98 % generation within permissible deviation of 15%. This ability stands amongst good performance in the sector and demonstrates our honing of skills in energy management.
The asset management teams at all locations are adept at balancing long term and short-term performance of the assets, to deliver positive contribution to multi-capitals. Our unique innovation hub has served as an instrument to catalyse the ideas to drive transformation and ownership culture among the key stakeholders. In the reporting year, over 209 ideas were generated during 40 hours of interactions between GAM, Projects, Engineering, C&P, QA/QC and QSD. This is amply demonstrated by the success stories presented in this report. The sense of ownership of Greenko employees emanate from the realization that they are contributing to the vision of decarbonization, digitalization and decentralization of the energy system presents enormous opportunities of growth for India and the company. Our people see their bright future in
The enthusiastic deliberations in the IR conclaves and readiness of each employee to align their role and activities to the company’s strategic objectives have been very encouraging. Our suppliers and communities find in us a reliable and agile partner to engage and commit for a long-term association. Ownership of outcomes by each employee; readiness to share gain and pain by suppliers and vendors and the trust reposed by the community are the assets of the company and will continue to be factors for the company’s improved performance, in the face of disruptions and challenges.
We have witnessed multiple operational disruptions due to unanticipated extreme weather events as also chronic physical changes in wind patterns. Our emergency preparedness plans and our team members’ readiness to go beyond the call of duty in the face of adversity ensured that the disruptions due to extreme weather events are addressed immediately. Going further, we have understood and are taking mitigative actions and building resilience, to address the changing pattern of extreme weather events and chronic pattern shifts due to global warming induced climate change. Our initiative of associating with leading global predictive analytics and engineering firms, to modernize 500 wind turbines and adopt the latest predictive analytics could improve resilience of assets. We will be installing sensing equipment across the 500 direct- drive and geared turbines to monitor its condition. The data generated will be used to identify machinery failures and provide longer lead times of 6 – 12 months to plan for corrective measures through replacement.
At the scale and size of ambition, it is necessary to move towards sustainable self-reliant operations and maintenance strategies. This will maximize efficiency, reduce costs, and retain investor confidence over the lifespan of the project. Digitalization and predictive maintenance will be the lynchpin to streamline asset operations and improve resilience.
Our employees weathered the COVID risk to maintain operations and generated uninterrupted power through the pandemic. Due to the pandemic, prolonged operation of business continuity plans have been a challenge. We have efficiently and effectively handled the movement of people, mobilisation of resources and equipment to the sites during the lockdown in and through hotspots, while normal transport operations and local supply chains have been disrupted. During the pandemic, ability to restore the disruption of extreme weather events have tested the agility and resilience of our organization. Further, we have contributed to healthcare and to communities through health authorities across India, in and around our asset locations, during this health emergency. Greenko Group conducted 191 EHS audits across our business portfolios in light of the pandemic to generate increased awareness among our employees. A dedicated COVID-19 committee led by our MD and CEO and equipped with a 24/7 COVID helpline served the Greenko family in uncertain times. Greenko has taken complete care of its employees and their families by providing medical/ hospitalization and all required support to them. Additionally, on-site employees were empowered with decision- making powers for timely actions during the pandemic.
To generate firm power, our new assets would combine stand-alone RE assets with long duration, utility scale storage and intelligent energy platforms. This would significantly alter the Greenko Asset Management challenges and we have begun preparing for the same. Further, as green hydrogen and zero carbon molecule assets at multiple decentralized locations would present new challenges and require new Organizational structures for asset management. Greenko is turning each challenge into an opportunity and marching ahead. In this journey, we are together with all our stakeholders.
Co-creative engagement with all key stakeholders is critical to our success. We are keen to listen to your feedback and engage with you to take this journey forward.
Chief Operating Officer-Greenko Asset Management