The wind energy sector in India is expected to witness a commendable growth in the coming years and the country is well poised to install around 89 GW of wind power capacity by 2020, says a new report- India’s Wind Energy Outlook 2012.
The report was launched in Chennai at the Wind Power India 2012 conference by Union Minter for New and Renewable energy, Dr. Farooq Abdullah. The report says that the wind power sector in the country will attract an annual investment of $16.5 billion, however, the government needs to address several challenges and remove barriers that exist.
At the release of the report, Dr. Abdullah said that currently India is the fifth largest wind power producer nation in the world, and the government is taking various efforts to make the sector grow. He said that the country is faced with the challenge of providing clean and reliable energy to all sections of society, and renewable energy has a big role to play.
The MNRE minister advised the state governments to approach the Centre for clean funds and use it for enhancing the power transmission and collection from renewable sources of energy. He admitted that the withdrawal of accelerated depreciation (AD) and the generation based incentive (GBI) incentives, the sector is witnessing a slump. He, however, assured the industry that his ministry is continuously working towards addressing the issue.
“We have a plan of 3,000 MW per year. GBI has to be given, so that the industry can grow further and be motivated in producing more power. We are also thinking that the time has come that we should think of going into the sea to generate power from there also,” Dr. Abdullah told the reporters.