Estimates by the Institute for Energy Economics & Financial Analysis (IEEFA) have projected a dramatic increase in India’s offshore wind generation capacity with capacity seen rising to 30 gigawatts (GW) by 2030. It is further estimated that India would account for 30 per cent of the total offshore wind capacity in Asia and equal China’s capacity.
Currently, India has a target of 5GW installed capacity by 2022 and the Ministry of New and Renewable Energy (MNRE) recently floated an Expression of Interest (EOI) for the purposes of developing 1GW offshore wind project off the western coast. The EOI attracted attention from reputed players in the domestic and international space and it is expected that with further development of offshore capacities, the cost efficiencies would rival those of onshore projects.
The report has also highlighted the promise that offshore wind generation plants pose with respect to replacing polluting thermal power. The report observes that if Asian economies meet their cumulative target of 100GW of offshore wind power, then an estimated 300-350 million tonnes of coal could be replaced with an estimated 55 per cent utilisation rate for these plants.
India is expected to be a pioneer in the coming days in generation of offshore wind power, with the same expected to boost the country’s efforts at generating clean power.