Wind Energy

India aims to achieve 50% non-fossil fuel installed capacity by 2030, according to Prime Minister Narendra Modi's address to G20 Energy Ministers. India has already surpassed its non-fossil installed electric capacity target, achieving milestones like connecting households with LPG and providing electricity to every village. The nation launched extensive LED distribution and agricultural pump solarization programs. It aspires to become a global hub for green hydrogen production and emphasized sustainable energy transition. Modi also highlighted the importance of low-cost finance for developing countries and proposed transnational grid interconnections for energy security. He introduced Mission Life to make individuals climate champions for a greener future.

The government plans to introduce a scheme to build renewable energy parks with solar, wind and biomass plants, before an existing scheme for solar parks ends at the close of this fiscal year. Projects in a renewable energy park require fewer approvals, and they provide a focused zone with proper infrastructure, amenities and limited risk.

The govt also plans to censure promoters of such companies, preventing them from taking part in future projects

Move comes after Andhra govt’s controversial plan to scrap renewable energy pactsInvestors claimed that Andhra Pradesh’s decision could put at risk 5.2GW of solar and wind energy projects

This is the first sale of assets that the group has been able to close, and the company said it will repay the lenders in fullWith this development, ORIX, which previously owned 49% in each of the seven SPVs, now has 100% ownership

Nearly half the world’s electricity will come from renewable energy by 2050 as costs of wind, solar and battery storage continue to plummetSince 2010, the cost of wind power has dropped by 49%, and solar has plummeted 85%, according to BNEF

The current status may hamper India's ambitious plans to almost double its wind energy capacity to 60GW by 2022, from about 34GW at present

Firm to get an external investor for renewable energy-focused asset aggregation business

Brookfield's India move follows acquisition of American renewable energy company SunEdison's yieldco TerraForm Global

India has called for expression of interest for the first offshore wind power project in the country that is being set up in Gulf of Khambat, Gujarat