New ‘India Wind Energy Outlook’ Report Released
Wind energy could soon supply 5 GW annually to fight chronic power shortages in the country, according to the India Wind Energy Outlook, prepared by WISE, IWTMA and GWEC.
Officially released at the opening of Wind Power India 2012 by the Hon. Minister of New and Renewable energy Farooq Abdullah, the report examines the state of the Indian wind power industry, and finds that up to 89 GW of wind power could be installed by 2020, up from current 18 GW. This would attract around $16.5 billion of annual investment to the sector, create 179,000 new jobs and save 179 tons of CO2 annually. By 2030, the installed capacity could reach as much as 191 GW.
“India’s wind power sector has a mature manufacturing industry, and enormous growth potential. Now we need to get the right policies in place both nationally and at state level for India to meet its target of 15% renewable electricity supply by 2020,” said Steve Sawyer, GWEC’s Secretary General.
“Power shortages and energy security are both critical issues for India’s rapidly growing economy. Wind is already cost-competitive with heavily subsidized fossil fuel based energy in several Indian states, and its competitive position will only improve over time,” continued Sawyer. “But we need effective national energy policy, coordination with states, investments in the grid and policy stability for wind power to fulfil its potential in India.”
India was the third largest wind power market in 2011, China and US, and fifth in overall cumulative installed capacity. The Indian Wind Energy Outlook provides an in-depth analyses of the current status of wind power development in India, assesses the potential for future growth and pinpoints the remaining obstacles which need to be overcome to fully benefit from the rich wind resource in the country.
The report shows that India’s potential for wind power development reaches up to 400 GW, and more if the potential of offshore wind and repowering are fully exploited.
Press release, December 4, 2012; Image: dwea