Feasibility study of offshore wind energy farms in India

Mani, Swaminathan; Dhingra, Tarun
January 2013
UPES Management Review;Jan-Jun2013, Vol. 2 Issue 1, p11
Academic Journal
Indian Economy is notching up impressive growth for the last few years and is expected to maintain this growth in the ball park of 8%. To maintain this growth, power sector needs to build additional generation capacity at an unprecedented pace. However, continued dependence on fossil fuels is hardly sustainable in the long run. Renewable Energy source needs to be harnessed in an accelerated manner to increase its share from (25 GW, ~ 12%) of India's overall Energy consumption (202 GW) to about 20% by 2020. The share of wind energy (17 GW) is 67% of the total renewable energy basket but the contribution from offshore wind farms is non-existent presently, as all the wind energy generated in India are only through onshore Wind farms. While onshore wind farms has lot more extractable potential left (estimated to be 100 GW at 80 Mts), there are also several challenges in setting up of large onshore wind farms (availability of large parcels of contiguous land, highest potential areas already taken etc). Hence, India has to exploit its vast coastline (over 7000 Kms) for producing power from offshore wind farms, to grow the share of renewables in the electricity generation mix. However, there is no literature, in the public domain, which talks of the feasibility of setting up large offshore wind farms in India. This paper makes an attempt to bridge that gap of non- availability of literature by giving an overall picture of the feasibility (including Market and demand analysis, Financial, technical and economic feasibility) of setting up offshore wind energy farms in India. The financial feasibility analysis shows that offshore wind energy farms have a positive NPV at 15% cost of capital and the project IRR is 16% taking the cost of electricity at Rs 11/unit. Similarly, the market, technical and economic feasibility studies also positively support commissioning of offshore wind energy projects in India. It is hoped that this study would add to the existing body of knowledge and is useful to policy makers and researchers alike.


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