RWE, the German energy behemoth, and Tata Power, the Indian power company, launched a partnership on Monday that would focus on constructing offshore wind projects in India.
RWE Renewables GmbH and Tata Power Renewable Energy Limited signed a memorandum of agreement pertaining to the plans, according to the companies.
“India has excellent wind resources, which can help to meet the country’s increasing energy demands,” Sven Utermöhlen, RWE Renewables’ CEO for offshore wind, said in a statement.
“If clear regulations and an effective tender scheme are in place, we expect India’s offshore wind industry will gain a real momentum,” he said.
India has around 7,600 kilometers of coastline, according to the Ministry of New and Renewable Energy. While India’s onshore wind sector is well-developed, there are no operating offshore wind projects in its seas. Authorities there have stated that they target 30 gigawatts of offshore wind power by 2030.
“The Indian Government is in the process of conducting detailed technical studies and devising the regulatory framework to establish the first auctions for offshore wind off the coast of Tamil Nadu and Gujarat,” RWE and Tata Power said.
In order to “ease the formation of an offshore wind market,” the companies said they will conduct technical and commercial site inspections.
They will also assess India’s offshore wind supply chain as well as critical infrastructures such as ports and grid connections.
India’s Ministry of New and Renewable Energy (MNRE) says it expects the installed capacity of “non-fossil fuels” to reach 500 GW by 2030. Despite this ambitious goal, the government continues to rely on fossil resources. According to the Ministry of Power, fossil fuels accounted for 59.8% of India’s total installed power capacity as of December 31.
At last year’s COP26 climate change meeting, India and China, two of the world’s largest coal consumers, pushed on a last-minute adjustment in the Glasgow Climate Pact’s fossil fuel terminology, from “phase out” to “phase down.” Opposing countries eventually succumbed after initial misgivings.
Indian Prime Minister Narendra Modi stated in a speech last week at The Energy and Resources Institute’s World Sustainable Development Summit that “environmental sustainability can only be realized via climate justice.”
“Energy requirements of the people of India are expected to nearly double in the next twenty years,” Modi said. “Denying this energy would be denying life itself to millions. Successful climate actions also need adequate financing.”
He added: “For this, developed countries need to fulfill their commitments on finance and technology transfer.”
(Adapted from CNBC.com)