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India pledges 'bold' 60GW wind target

INDIA: India is targeting 60GW of wind power by 2022 as part of its COP21 climate change pledge.

India has set a target of 60GW of wind power by 2022
India has set a target of 60GW of wind power by 2022

The target was set by the government as part of India's COP21 pledge ahead of the talks taking place in Paris in December to decide on a global deal to prevent further climate change.

India's Intended Nationally Determined Contribution report, published yesterday, states that the  government will look at the development of smaller and efficient turbines, low-wind turbines and offshore projects to meet the target.

India has the potential to install over 100GW of wind and is currently the world's fifth largest wind power producer with 23.76GW installed – over 65% of it renewable capacity, said the report.

Research organization, the World Resources Institute (WRI), said India's renewable energy plan was "bold".

"Despite the challenges in implementation, this plan reaffirms India's intent to achieve its bold renewable energy goals. If PM Modi succeeds in building international partnerships, India will go a long way toward achieving his ambitious vision for renewable energy," said WRI India CEO Nitin Pandit.

Previously, India's Ministry of New and Renewable Energy (MNRE) initiated a national consultation for setting up a national wind-energy mission in 2015 to help boost the sector in the coming years.

And, this week, the Reserve Bank of India cut its repo interest rate by more than expected from 7.25% to 6.75%. The repo rate is the rate at which the central bank lends money to commercial banks which it is hoped would make investments in wind projects more attractive.

India moved up to third behind the US and China in Ernst and Young's renewable energy investment attractiveness index in September.

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