To explore the potential for a joint development of offshore wind projects in India, Tata Power and RWE Renewables, one of the leaders in offshore wind, have signed an Memorandum of Understanding (MoU).
The MoU becomes significant in the light of the Government of India’s announcement of achieving 30 gigawatts (GW) of offshore wind installations by 2030 to meet the country’s growing power demands.
RWE and Tata Power Renewable Energy Limited possess complementary strengths and will enable the establishment of a competitive offshore wind market in India.
Talking about the collaboration, Dr Praveer Sinha, CEO and Managing Director of Tata Power, said, “RWE is our ideal partner to support Tata Power’s plans to enhance and grow offshore wind business based on its global expertise in running and operating offshore wind projects. In view of the Indian Government’s heightened focus on offshore wind farms to address the country’s expanding electricity demands, the collaboration becomes even more significant.”
Sven Utermohlen, CEO Wind Offshore of RWE Renewables, explains, “India has excellent wind resources, which can help to meet the country’s increasing energy demands. If clear regulations and an effective tender scheme are in place, we expect India’s offshore wind industry will gain a real momentum. RWE wants to be part of this development.”
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 of the coast of Tamil Nadu and Gujarat.
Offshore wind has the potential to spur significant infrastructure investment in these states and to support local job creation. To facilitate the establishment of an offshore wind market in India,
RWE and Tata Power Renewable Energy Limited will conduct technical and commercial site assessments. In addition, the companies are looking into an evaluation of the Indian offshore wind supply chain and supporting infrastructure, such as ports and grid connections, to identify the local strengths as well as necessary development potential.