It would take only around 0.3 per cent of the worlds land area to supply all of our electricity needs via solar power.
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Wind power has been recognized, globally, as one of the most affordable clean energy solutions. With more than 65 GW of onshore generation potential and 15 GW of operating capacity, wind already contributes to more than 90% of installed renewable energy asset base and provides less than 4% of all the electricity produced in India. With the emergence of IPPs, such as GIL, and the strong regulatory policy and fiscal incentive support provided by the Government of India through tax benefits and Generation Based Incentives (GBI), REC's etc., wind is expected to remain the mainstay of Indian renewable energy generation over the next few years.
Growth in wind energy sector in India has been tremendous. The Indian wind energy sector has an installed capacity of 14158.00 MW (as on March 31, 2011). In terms of wind power installed capacity, India is ranked 5th in the World. Today India is a major player in the global wind energy market.
Indian government plans to add 5,000 MW of capacity in the 12th Five-Year Plan in addition to the 15,000 MW planned through new projects.
In India, Tamil Nadu is the most aggressive and leading state seeking quantum leap in harnessing power through both wind and solar energy over next five years. India's total wind power installed capacity is about 14,000 MW, with Tamil Nadu accounting for 43%. The state is preparing to announce a separate renewable energy policy with a goal to add about 8,000mw of capacity through wind and solar in the next five years.
India is among the fastest growing renewable energy countries in the world after China, Brazil and United States, said a UN report on green economy released. Investment from countries such as India, China and Brazil has increased by five times between 2005 and 2010 and it surpassed that of the developed countries in 2010.
In terms of wind power installed capacity, India is ranked 5th in the World. Today India is a major player in the global wind energy market. The unexploited resource availability has the potential to sustain the growth of wind energy sector in India in the years to come. Wind energy sector in India has grown at a tremendous rate over the last one decade. It now contributes over 70 percent of the total renewable energy installed capacity in India. The growth has been a result of variety of incentives being offered by various state governments. Governments in states with significant wind energy resources have been offering financial incentives like tax breaks, preferential feed-in tariffs and duty waivers to wind energy project developers. And while the wind energy sector is the most mature among all the renewable energy sectors in India, there is still a massive scope of expansion in this sector.
United Nations Environment Programme flagship report says that Investment from countries such as India, China and Brazil has increased by five times between 2005 and 2010 and it surpassed that of the developed countries in 2010.
"The total installed capacity of renewable of developing countries can be higher than that of the developed world," the report said, adding that India, China and Brazil account for 90 percent of the new investments in the developing countries.
The investment for harnessing green energy through renewable increased from US $55 billion in 2005 to US $211 billion in 2010.
The report, which says governments are taking steps for inclusive low carbon economy, pointed out that India's share of renewable in its total energy generation would rise from present 4.9 % to 6.2 percent by 2035. India can generate 10,000 MW of power from wind turbines and another 20,000 MW from solar power plants.
Wind energy is the fastest growing component of renewable energy sector in India, accounting for nearly 70% of the installed capacity, with a cumulative installation of over 14,000 MW.
Given the maturity of the technology and sector, wind energy is expected to contribute a significant portion of GIL's renewable energy asset portfolio. With the favorable policies such as the accelerated depreciation, import duty concessions, tax holiday and in the recent years generation-based incentives. The introduction of renewable purchase obligation on distribution companies and trading of renewable energy certificate are right steps is propelling GIL to the next level to grow to a 5GW renewable energy company by 2015. In order to achieve these ambitious targets it will add around 2.5GW of Wind portfolio by 2015. To achieve our growth targets we intend to develop our own Green field projects, setup projects through turnkey route and also acquire good operating assets which fit our objectives.
