Home / Companies / News /  Tata Power, RWE to explore offshore wind energy biz

NEW DELHI : Tata Power and Germany-based RWE Renewables GmbH have joined hands to explore the potential for joint development of offshore wind projects in India.

Tata Power Renewable Energy Limited, a 100% subsidiary of Tata Power, and RWE Renewables GmbH has signed a Memorandum of Understanding for the partnership, said a joint statement from the companies.

"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," said the statement.

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."

Noting that India has excellent wind resources, which can help to meet the country’s increasing energy demands, Sven Utermohlen, CEO Wind Offshore of RWE Renewables, said: “If clear regulations and an effective tender scheme are in place, we expect India’s offshore wind industry will gain a real momentum."

The tie-up comes at a time when the government is in the process of conducting detailed technical studies and devising the regulatory framework to establish the first auctions for offshore wind on 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.

The German-based RWE Group currently operates 17 offshore wind farms in five countries. By 2030, RWE intends to triple its global offshore wind capacity from currently 2.4 GW to 8 GW.

The partnership is set to give a boost to India ambitious sustainable development plans and the COP26 commitment as per which India aims to be carbon neutral by 2070.

ABOUT THE AUTHOR

Rituraj Baruah

Rituraj Baruah is a senior correspondent at Mint, reporting on housing, urban affairs, small businesses and energy. He has reported on diverse sectors over the last six years including, commodities and stocks market, insolvency and real estate. He has previous stints at Cogencis Information Services, Indo-Asian News Service (IANS) and Inc42.
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