TATA Power signs MoU with RWE Renewables to meet demands in India
TATA Power and RWE renewables sign MoU to develop offshore wind projects in India.
On Monday, TATA Power signs MoU with RWE Renewables. Firstly, TATA Power Renewable Energy is a 100% subsidiary of TATA Power. It is India’s one of the largest integrated power companies. On the other hand, RWE Renewables is a German based world class leader in offshore wind.
Complementary relationship as TATA Power signs MoU with RWE Renewables
TATA Power signs MoU with RWE Renewables and they will together enable a competitive environment in the production of off-shore wind energy.
The TATA subsidiary believes that the partnership with RWE Renewables will benefit because of the latter’s expertise in the off-shore wind business with a track record of 20 years.
Moreover, with government’s expectations and India’s needs, the partnership becomes significant.
The CEO of RWE Renewables finds India’s wind resources to be extraordinary and hopes for efficient regulations and tender schemes.
Factors that make India full of opportunities:
- India has a coastline of 7,600 Km. The production of off-shore wind requires large coastlines. The government is devising a process and formulating framework to auction coastline for off-shore wind energy in Gujarat and Tamil Nadu.
- Moreover, India as a market is rich with opportunities and still needs a lot of exploration. It requires an additional source for the output of electricity to meet the ever increasing demand of electricity in India.
- Additionally, in the wake of the increasing demand of electricity, the government of India makes an announcement to install off-shore wind energy projects of 30 gigawatts (GW) by 2030.
