Hybrid Projects Demand More Planning: Naresh Mansukhani (CEO, Juniper Green)

Hybrid Projects Demand More Planning: Naresh Mansukhani (CEO, Juniper Green)

Tell us about the journey of Juniper Green in India till now.

We launched Juniper Green as a solar-focused platform in 2018, primarily because solar energy is more predictable. During that time wind project tariffs were dropping too low. In 2021, we expanded our capabilities to include wind and storage projects. As a result, we now have an operational capacity of 1.1 GW—70 MW of which is wind, and the rest is solar. Our first 70 MW wind project was commissioned nine months ahead of its Scheduled Commercial Operation Date (SCOD). Our team is driven and ambitious, with an additional 2.5 GW of projects currently under construction.

With the entry of large wind turbines, how do you see the transition of the Indian wind energy market?

Larger turbines bring a lower Levelized Cost of Energy (LCOE), and the government is actively promoting repowering initiatives. Our initial 70 MW wind project used 3.15 MW turbines from Suzlon. In India, most developers are now installing 3 to 3.3 MW turbines. The economics of the project are crucial, and larger turbines provide greater output with less land requirement. By January 2026, we expect that 5.5 MW wind turbines will be available in India, with even larger sizes anticipated for offshore installations.

Compared to standalone solar or wind projects, what additional challenges do hybrid projects pose for developers?

Hybrid projects require expertise in both solar and wind technologies. Site selection is crucial, with micrositing and wind data analysis needed to make informed decisions. It’s challenging if data isn’t readily available, as accurate micrositing requires specific wind data for the location. At one point, tariff rates dropped so low that the sector stagnated, leading many companies to exit the market, which set back wind capability development.

Land acquisition is another major challenge for renewable projects in India. Could you elaborate?

Certainly. Land acquisition is often complex, especially when dealing with small landholdings. In some states, land parcels are very small, so multiple stakeholders are involved, making it challenging to align everyone’s interests. Highly cultivated land adds to the difficulty, as creating a contiguous project site involves coordinating with numerous landowners. Comparatively, Rajasthan is easier because of larger landholdings and more wasteland availability, simplifying the acquisition process.

Solar cell prices have been dropping, especially in China. How does this affect solar project developers in India?

Module prices significantly impact solar tariffs, as modules make up around 50-60% of a project’s cost. Recent price drops in China have indirectly lowered domestic prices since we still rely on Chinese imports for cells. China remains a dominant supplier due to its manufacturing scale and supply chain efficiency. Indian modules currently cost around 16 cents per watt, while Chinese modules are under 10 cents. As a result, we’re still working to reach cost parity with China. The solar cell market in India is now in a nascent stage.

With tariffs historically low, do you think there’s potential to see rates below Rs 1.99 per unit again?

The Rs 1.99 rate was more of an anomaly, a “mad rush.” We won a tender at Rs 2.65 around the same time, but a few months later, similar tenders dropped to Rs 1.99 without significant cost changes. Many of those projects were delayed or never built. While module prices are currently low, tariffs are more stable around Rs 2.5 per unit.

Do you think aggressive bidding can sometimes compromise O&M quality. Do you see this as a risk?

Yes, that’s a valid concern. In a competitive solar IPP domain, aggressive pricing can lead to neglecting long-term O&M costs. While the wind sector, with fewer players, is less aggressive, solar developers should avoid bidding too low, as it can impact project sustainability.

With storage costs decreasing, what’s your view on the future of storage tenders?

We’ve secured several FDRE projects, which involve firm power commitments, such as delivering power in specific time slots. This requires oversizing projects—essentially, for a 200 MW project, we often build up to a gigawatt of capacity. Storage is then added to meet firm power requirements.

Besides solar, wind, and storage, are you exploring other green technologies, like green hydrogen?

We’re open to green hydrogen, but it’s still a long-term goal. The industry faces challenges, especially around hydrogen transportation. Green ammonia, which is a potential solution, is also currently three times more expensive than conventional ammonia due to its high power demands. There’s still much work needed to make these technologies viable.

Where do you envision the company in the next five years?

Our target is to reach 4 GW of commissioned capacity within the next two years, and we aim for 10 GW by 2030. We’re progressing steadily toward these milestones.