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India

India

Tata plans wind acquisition push

INDIA: Tata Power is planning to add about 150 to 200MW of wind capacity to its portfolio every year through the acquisition of already established wind farms.

Tata operates wind farms with around 400MW of capacity
Tata operates wind farms with around 400MW of capacity

Last month, the company bought a 39.5MW plant in Gujarat.

The company said that after it announced the Gujarat acquisition, it received a lot of interest from other  wind farm operators, wanting to sell their assets.

Difficulties with securing land for projects and poorly enforced government policies have made it harder to develop new projects, the company said, leading it to look to already developed wind farms as a means to extend its portfolio.

The push into renewables will cost around $260 million, the company estimates. Tata currently operates about 400MW of wind projects in India.

Growth in the Indian wind market slowed in 2012 with the removal of two major incentives for wind. And while the country's expected colossal growth in energy demand means the long term looks good, there is considerable uncertainty in the short term.

The country's total installed capacity topped 18GW by the end of 2012, but installations for the start of this year are severely down on the past few years.

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