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· Partnership aims to support the establishment of a competitive and sustainable offshore wind market
· Tata Power Renewable Energy Ltd adds its experience of the Indian renewable power sector
India, National, 21st February 2022: RWE and Tata Power have agreed on a partnership to explore the potential for a joint development of offshore wind projects in India. A corresponding 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.
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.
RWE and Tata Power Renewable Energy Limited possess complementary strengths and will enable the establishment of a competitive offshore wind market in India. Talking about the collaboration, Dr Praveer Sinha, CEO and Managing Director of Tata Power, says: “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.”
Sven Utermöhlen adds: “With Tata Power we have an outstanding and experienced partner at our side which is deeply rooted locally and shares our ambition to drive the growth of offshore wind in India. Combined with RWE’s 20 years’ track record in developing, constructing and operating offshore wind projects, we are well placed to supply green energy from offshore wind as competitively as possible for the Indian society.”
Establishment of a competitive and sustainable offshore wind market in India
The Indian 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 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.
Partners have a long-standing history in electricity generation
The German-based RWE Group has more than 120 years’ experience of electricity generation. Founded in 1898 as a municipal utility, RWE today is a leading global player in renewables. RWE is determined to contribute its technical and commercial expertise gained from the operation of 17 offshore wind farms in five countries, and the development and construction of some of the world’s most advanced offshore wind farms to forge ahead with offshore wind in India. By 2030, RWE intends to triple its global offshore wind capacity from currently 2.4 GW to 8 GW (capacity represents RWE share only). The focus for further growth is on attractive markets of Europe, North America, and the Asia-Pacific Region including India. RWE has had an energy trading presence in India since 2013. The company will now also staff the office with experienced offshore wind experts from India and Europe. This set-up will help to transfer the knowledge from established offshore markets to India, to drive down costs and to both construct and operate offshore wind farms safely and at highest industry standards.
Tata Power also has a rich legacy of over 100 years and through Tata Power Renewable Energy Limited it will contribute its deep understanding of the local electricity market and regulation, as well as stakeholder networks in the local and international supply chain, authorities and communities, to ensure effective project delivery. The company has a strong portfolio in the renewables landscape of India with a total capacity of 4,909 MW out of which close to 1,854 MW is under implementation. Tata Power also has significant international presence as well operations spread across the entire value chain of the power sector right from generation to transmission to distribution.
By joining forces and thereby combining these complimentary skills, a strong partnership has been forged; a robust and powerful partnership that will support the Indian Government bringing to life its ambitions for an Indian offshore wind market, and that will contribute to the country reaching its net zero targets.Further information (in English language) about Tata Power Renewable Energy Ltd: www.tatapowerrenewables.com
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