Tata Power, RWE join to develop offshore wind projects
Tata Power on Monday said it has collaborated with Germany-based RWE Renewable GmbH to explore potential for a joint development of offshore wind projects in India.
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New Delhi: Tata Power on Monday said it has collaborated with Germany-based RWE Renewable GmbH to explore potential for a joint development of offshore wind projects in India.
A corresponding MoU has been signed between Tata Power Renewable Energy Limited, a 100 per cent subsidiary of Tata Power, which is one of India's largest integrated power companies, and RWE Renewables GmbH, one of the world's leaders in offshore wind, a Tata Power statement has said.
India is an unexplored and highly attractive market to develop opportunities for offshore wind as it has a large coastline of about 7,600 kilometres. The MoU between Tata Power Renewable Energy and RWE becomes significant in the light of the Government of India's announcement of achieving 30 gigawatts (GW) of offshore wind installations by 2030 to meet the country's growing power demands, it added.
RWE and Tata Power Renewable Energy possess complementary strengths and will enable the establishment of a competitive offshore wind market in India. Praveer Sinha, CEO and Managing Director of Tata Power, said in the statement, "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."
