Twesh Mishra GE Gas Power wants the Centre to introduce the option of mixing power from natural gas-based projects with renewable energy to ensure a balanced grid. According to GE’s analysis, under such an arrangement, the present gas price would be cheap enough to offer electricity at competitive rates.
“The Centre should introduce gas power as an option in ‘renewable energy plus thermal’ tenders to promote the growth of renewable energy. The gas price is very attractive and is expected to stay so,” said Deepesh Nanda, Chief Executive Officer, GE Gas Power, South Asia.
“We are in a long-cycle for inexpensive natural gas. The government should take advantage of this. If you look at the global markets, the indications are that there is a greater supply of natural gas than the demand. We are probably living in the golden age of natural gas,” Nanda told BusinessLine.
Currently, the landed price of imported natural gas in India is in the sub-$6 per million British thermal units (mBtu) range. But not long ago, it was hovering at $12 per mBtu.