New Delhi: Tata Power and Germany based REW Renewable GmbH have agreed on a partnership to explore the potential for a joint development of offshore wind projects in India.
A Memorandum of Understanding (MoU) has been signed between Tata Power Renewable Energy Limited, a 100 percent subsidiary of Tata Power, which is one of India’s largest integrated power companies, and RWE Renewables GmbH, one of the world’s leaders in offshore wind, said the Tata Power in a statement.
India is an unexplored and highly attractive market to develop opportunities for offshore wind as it has a large coastline of about 7,600 kilometres.
The MoU between Tata Power Renewable Energy Limited and RWE 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.
Talking about the collaboration, Dr Praveer Sinha, CEO and Managing Director of Tata Power, said that “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 Utermöhlen, 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 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 assessment” it said.