Germany-based energy firm RWE has partnered with Indian electric utility company Tata Power to explore the potential to jointly develop offshore wind projects in India.
Tata Power subsidiary Tata Power Renewable Energy signed a memorandum of understanding (MoU) with RWE Renewables, RWE’s renewable energy business, for the partnership.
Go deeper with GlobalData
The collaboration comes after the Indian Government set a target of installing 30GW of offshore wind power capacity by 2030 to meet the country’s growing energy demand.
Tata Power managing director and CEO Dr Praveer Sinha said: “RWE is our ideal partner to support Tata Power’s plans to enhance and grow offshore wind business based on its global expertise in running and operating offshore wind projects.
“In view of the Indian Government’s heightened focus on offshore wind farms to address the country’s expanding electricity demands, the collaboration becomes even more significant.”
The two companies’ partnership is expected to help establish a competitive offshore wind market in India, whose coastline measures around 7,600km in total.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe Indian Government is conducting detailed technical studies and establishing a regulatory framework to organise auctions for offshore wind areas off the coasts of Tamil Nadu and Gujarat.
RWE Renewables Wind Offshore CEO Sven Utermöhlen said: “India has excellent wind resources, which can help to meet the country’s increasing energy demands.
“With Tata Power, we have an outstanding and experienced partner at our side that is deeply rooted locally and shares our ambition to drive the growth of offshore wind in India.
“Combined with RWE’s 20-year track record in developing, constructing and operating offshore wind projects, we are well-placed to supply green energy from offshore wind as competitively as possible for the Indian society.”
Earlier this month, RWE partnered with UK-based oil and gas company Neptune Energy to develop H2opZee, an offshore green hydrogen demonstration project located in the Dutch North Sea.
