India’s leading hydropower company, National Hydroelectric Power Corporation (NHPC) Ltd, is breaking new ground by inviting global players to express their interest in developing the nation’s inaugural offshore wind energy project. This move aligns with NHPC’s ambitious plan to contribute over 27 GW of renewable energy to India’s 2030 climate goals.
Expanding the Green Horizon: As part of its commitment to developing 500 GW of non-fossil fuel-based energy sources by 2030, India is making strides in the renewable energy sector. NHPC’s foray into offshore wind power is a crucial step towards achieving this target, contributing to the government’s initiative to auction 50 GW of renewable energy capacity annually for the next five years.
NHPC’s Impressive Portfolio: Currently holding an investment base of Rs 74,715.12 crore, NHPC boasts a total installed capacity of 7097.2 MW. With 22 hydro power stations generating 6971.20 MW, it accounts for 14.88% of India’s total installed hydro capacity. NHPC has also recently ventured into solar and wind power, further diversifying its renewable energy portfolio.
Global Collaboration for Expertise: NHPC, through its Expression of Interest (EoI) process, aims to collaborate with companies possessing extensive offshore wind power project development experience worldwide. With India yet to have any offshore wind projects, NHPC’s strategy involves associating with empanelled companies to bid for and develop these projects on a Build-Own-Operate basis.
Unexplored Potential: India, with its 7500-km coastline, holds vast potential for offshore wind energy. The National Offshore Wind Energy Policy, notified in 2015, gained momentum with the Power Ministry’s recent notification of offshore wind energy lease rules. NHPC’s strategic move is aligned with India’s goal of installing 37 GW of offshore wind projects, with Gujarat and Tamil Nadu leading the way at Rs 4 per unit.
Tapping Into the Future: India, standing fourth globally in renewable energy installed capacity, is poised to make significant strides in the sector. With an estimated offshore wind potential of 70 GW, NHPC’s offshore wind project marks a crucial step in India’s green energy journey.
