Industry executives are urging for constant policy support to help India become a global hub for the generation of renewable energy, as the country's wind energy sector is at a key juncture. At a press conference, JP Chalasani, CEO of Suzlon Group, emphasized the country's potential for substantial expansion in the wind energy industry.
"India has the ability to add 8 GW of capacity annually, with the existing installed wind energy capacity being over 48 GW,” Chalasani stated. He highlighted that India might become a global leader in the generation of renewable energy if it were to focus on homegrown manufacturing and innovation and implement robust legislative support, such as tightening the requirements for the Registered List of Models and Manufacturers (RLMM).
India's renewable environment is changing as a result of hybrid wind-solar projects, according to Amit Kansal, CEO and Managing Director of Senvion Wind Technology. "Meeting India's targets for renewable energy and promoting sustainable development depends on the government's recent investments exceeding $10 billion annually in renewable energy and its goal of achieving 140 GW of wind power by 2030," Kansal said.
To fully realize India's wind energy potential, however, industry executives recognized that there are some important issues that must be resolved. The identification of land availability as a significant impediment for wind projects was made. "India is prepared to increase its capabilities, but project execution requires resolving obstacles like land acquisition," Chalasani continued.
The Wind Independent Power Producers Association (WIPPA) President, Parag Sharma, emphasized the importance of taking swift action on policy. "Strategic partnerships and timely power purchase agreements (PPAs) are crucial to luring investments and promoting capacity increase. Wind energy will be a key component of India's future renewable energy mix, according to cost-reflective tariffs and market mechanisms, according to Sharma.
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