RWE, Tata Power Sign MOU Zeroing in on Offshore Wind Power Market

published: 2022-03-02 10:39 | editor: | category: News

 

Leading German energy firm RWE and India-based Tata Power Renewable Energy recently announced that they have signed an MOU to co-develop an offshore wind power market in India.

RWE Renewables offshore wind power CEO Sven Utermöhlen indicates that India possesses ample wind power resources capable of satisfying the country’s growing energy demand. With the help of clearer policies and bidding plans, India’s offshore wind power industry will likely gain sufficient traction for growth.

India has a long history of onshore wind power, but the country is currently aiming to install a total of 30 GW in offshore wind power by 2030, starting from zero as of now. Not a single offshore wind power generator can be found along India’s 7,600 km shoreline. RWE and Tata Power indicate that the Indian government is carefully looking into a comprehensive technical development and establishing legal frameworks in hopes of conducting the first bids for offshore wind power off the Tamil Nadu and Gujarat coastlines.

In addition, technical and commercial assessments will be conducted in situ, thereby facilitating the construction of an offshore wind power market. Furthermore, such key infrastructures in India as the offshore wind power supply chain, ports, and electrical grids will also be assessed.

India’s MNRE hopes to increase the country’s non-fossil fuel energy installation past 500 GW in 2030. Despite the ambitious goal, India’s energy industry still relies heavily on fossil fuels. Power consumption data indicate that, as of December 31, 2021, fossil fuel energy installation accounted for 59.8% of all energy sources in the country.

India does not wish to give up on fossil fuel either. During the COP26 climate summit last year, several leading fossil fuel economies, including India and China, insisted on editing one particular keyword regarding the use of fossil fuel for power generation, from “phasing out” to “phasing down”.

Indian prime minister Narendra Modi expressed during the climate summit that only through climate justice is sustainable development possible. While India’s energy demand is expected to undergo a twofold growth within the next two decades, invalidating coal energy is the equivalent of invaliding the livelihood of millions of people.

 (Image: Pixabay)

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