RWE and Tata Power have agreed on a partnership to explore the potential for a joint development of offshore wind projects in India. A corresponding Memorandum of Understanding (MoU) has been signed between Tata Power Renewable Energy Limited, a 100 percent 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.
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 Limited 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.
RWE and Tata Power Renewable Energy Limited possess complementary strengths and will enable the establishment of a competitive offshore wind market in India. Talking about the collaboration, Dr Praveer Sinha, CEO and Managing Director of Tata Power, says: “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.”
Sven Utermöhlen, CEO Wind Offshore of RWE Renewables, explains: “India has excellent wind resources, which can help to meet the country’s increasing energy demands. If clear regulations and an effective tender scheme are in place, we expect India’s offshore wind industry will gain a real momentum. RWE wants to be part of this development.”
Sven Utermöhlen adds: “With Tata Power we have an outstanding and experienced partner at our side which is deeply rooted locally and shares our ambition to drive the growth of offshore wind in India. Combined with RWE’s 20 years’ 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.”
Establishment of a competitive and sustainable offshore wind market in India
The Indian Government is in the process of conducting detailed technical studies and devising the regulatory framework to establish the first auctions for offshore wind of the coast of Tamil Nadu and Gujarat. Offshore wind has the potential to spur significant infrastructure investment in these states and to support local job creation. To facilitate the establishment of an offshore wind market in India, RWE and Tata Power Renewable Energy Limited will conduct technical and commercial site assessments. In addition, the companies are looking into an evaluation of the Indian offshore wind supply chain and supporting infrastructure, such as ports and grid connections, to identify the local strengths as well as necessary development potential.
Partners have a long-standing history in electricity generation
The German-based RWE Group has more than 120 years’ experience of electricity generation. Founded in 1898 as a municipal utility, RWE today is a leading global player in renewables. RWE is determined to contribute its technical and commercial expertise gained from the operation of 17 offshore wind farms in five countries, and the development and construction of some of the world’s most advanced offshore wind farms to forge ahead with offshore wind in India. By 2030, RWE intends to triple its global offshore wind capacity from currently 2.4 GW to 8 GW (capacity represents RWE share only). The focus for further growth is on attractive markets of Europe, North America, and the Asia-Pacific Region including India. RWE has had an energy trading presence in India since 2013. The company will now also staff the office with experienced offshore wind experts from India and Europe. This set-up will help to transfer the knowledge from established offshore markets to India, to drive down costs and to both construct and operate offshore wind farms safely and at highest industry standards.
Tata Power also has a rich legacy of over 100 years and through Tata Power Renewable Energy Limited it will contribute its deep understanding of the local electricity market and regulation, as well as stakeholder networks in the local and international supply chain, authorities and communities, to ensure effective project delivery. The company has a strong portfolio in the renewables landscape of India with a total capacity of 4,909 MW out of which close to 1,854 MW is under implementation. Tata Power also has significant international presence as well operations spread across the entire value chain of the power sector right from generation to transmission to distribution.
By joining forces and thereby combining these complimentary skills, a strong partnership has been forged; a robust and powerful partnership that will support the Indian Government bringing to life its ambitions for an Indian offshore wind market, and that will contribute to the country reaching its net zero targets. Further information (in English language) about Tata Power Renewable Energy Ltd: www.tatapowerrenewables.com
About Tata Power:
Tata Power (NSE: TATA POWER; BSE: 500400) is one of India’s largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed/managed capacity of 13,171 MW. The Company is India’s most progressive green energy brand, with operations across the entire power value chain – generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, coal & freight, logistics, and trading. The Company had developed the country’s first Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. With 4.3 GW of clean energy generation from solar, wind, hydro, and waste heat recovery accounting for 33% of the overall portfolio, the company is a leader in clean energy generation.
It has successful public-private partnerships in generation, transmission & distribution in India viz: Powerlink’s Transmission Ltd. with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi, Maithon Power Ltd. with Damodar Valley Corporation for a 1,050 MW Mega Power Project at Jharkhand. Tata Power is currently serving more than 12 million consumers via its Discoms, under public-private partnership model viz Tata Power Delhi Distribution Ltd. with Government of Delhi in North Delhi, TP Northern Odisha Distribution Limited, TP Central Odisha Distribution Limited, TP Western Odisha Distribution Limited, and TP Southern Odisha Distribution Limited with Government of Odisha.
With a focus on sustainable and clean energy development, Tata Power is steering the transformation as an integrated solutions provider by looking at new business growth in distributed generation through rooftop solar and microgrids, storage solutions, EV charging infrastructure, ESCO, home automation & smart meters et al. With its 107 years track record of technology advancements, project execution excellence, world-class safety processes, customer care, and green initiatives, Tata Power is well poised for multi-fold growth and is committed to lighting up lives for generations to come. For more information visit us at: www.tatapower.com
RWE is leading the way to a green energy world. With an extensive investment and growth strategy, the company will expand its powerful, green generation capacity to 50 gigawatts internationally by 2030. RWE is investing €50 billion gross for this purpose in this decade. The portfolio is based on offshore and onshore wind, solar, hydrogen, batteries, biomass and gas. RWE Supply & Trading provides tailored energy solutions for large customers. RWE has locations in the attractive markets of Europe, North America and the Asia-Pacific region. The company is responsibly phasing out nuclear energy and coal. Government-mandated phaseout roadmaps have been defined for both of these energy sources. RWE employs around 19,000 people worldwide and has a clear target: to get to net zero by 2040. On its way there, the company has set itself ambitious targets for all activities that cause greenhouse gas emissions. The Science Based Targets initiative has confirmed that these emission reduction targets are in line with the Paris Agreement. Very much in the spirit of the company’s purpose: Our energy for a sustainable life.
This press release contains forward-looking statements. These statements reflect the current views, expectations and assumptions of management, and are based on information currently available to management. Forward-looking statements do not guarantee the occurrence of future results and developments and are subject to known and unknown risks and uncertainties. Actual future results and developments may deviate materially from the expectations and assumptions expressed in this document due to various factors. These factors primarily include changes in the general economic and competitive environment. Furthermore, developments on financial markets and changes in currency exchange rates as well as changes in national and international laws, in particular in respect of fiscal regulation, and other factors influence the company’s future results and developments. Neither the company nor any of its affiliates undertakes to update the statements contained in this press release.
German General Data Protection Regulation (GDPR)
The personal data processed in connection with the press releases will be processed in compliance with the legal data protection requirements. If you are not interested in continuing to receive the press release, please inform us at firstname.lastname@example.org. Your data will then be deleted and you will not receive any further press releases from us in this regard. If you have any questions about our data protection policy or the exercise of your rights under the GDPR, please contact email@example.com.