India’s largest hydropower company — National Hydroelectric Power Corporation (NHPC) Ltd — has invited Expression of Interest (EoI) from global players to develop the country’s first-ever off-shore wind energy plant. This is part of the PSU’s larger plan of developing over 27 GW of renewable energy projects by 2030 to contribute to India’s 2030 climate goals.
India has committed to establishing 500 GW of cumulative electric power installed capacity through non-fossil fuel-based energy sources by 2030 under its revised Nationally Determined Contributions (NDCs). The government would drive this clean energy push by inviting bids for 50 GW of renewable energy (RE) capacity annually for the next five years. Of 500 GW, 280 GW would be met by solar, and 140 GW from wind energy. “As part of this initiative, NHPC Ltd also intends to venture into the development of Offshore Wind power projects and is looking into various Offshore Wind power project opportunities,” stated the company about its energy transition plan.
One of the top 10 global companies with an investment base of Rs 74,715.12 crore, NHPC currently holds a total installed capacity of 7097.2 MW. At least 6971.20 MW of it comes from the 22 Hydro Power Stations which make up for about 14.88 per cent of India’s total installed Hydro capacity of 46, 850.18 MW. The rest 76 MW comes from two Solar Power Projects and 50 MW from a Wind Power Project that it has recently forayed into. Overall, the hydropower giant generates nearly 25,000 million units of electricity per year through its network of hydro and renewable energy-based power plants.
According to its EoI document, accessed by News18, NHPC intends to collaborate with companies which have extensive prior knowledge and experience of Offshore Wind power project development across the globe.
Since India does not have any Offshore Wind power projects currently, it intends to associate with the empanelled companies to formulate and submit bids invited by the government or its agencies for development of offshore wind power projects in India on Build-Own-Operate basis.
Apart from building in-house expertise it will help in subsequently developing solutions in the execution and O&M of the offshore wind energy projects. This would also have expected to open doors for global companies to enter the Renewable Energy Business in India and establish their footprint. An EOI is a preliminary step in the tendering process where the companies can express their intent to collaborate/participate in a specific project, before moving forward with a formal bidding process.
With a 7500-km coastline, India is keen to tap into this relatively unexplored source of renewable energy. The National Offshore Wind Energy Policy was notified in 2015, but the latest push came last December when the Power Ministry got the ball rolling by notifying the long-awaited Offshore wind energy lease rules to regulate the allocation of offshore wind sea blocks to developers.
According to an initial assessment, India has an estimated potential of about 70 GW offshore wind energy in the eight potential zones identified off the coast of Gujarat and Tamil Nadu. A revised strategy for development of offshore wind energy projects issued last year indicated a bidding trajectory for installation of 37 GW capacity of Off-shore wind projects. The government Gujarat and Tamil Nadu have also agreed for power offtake @ Rs 4 per unit from initial offshore wind energy projects from their respective coasts.
India currently stands fourth in Renewable Energy installed capacity globally, fourth in Wind Power capacity and fifth in Solar Power capacity. Around 13.5 GW of renewable energy capacity was expected to be installed during 2023, corresponding to an investment of about Rs 74,000 crore.
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