India presently ranks fourth in the world for installed wind-based energy generation capacity. The Government of India has been taking several steps to increase the installation of wind energy capacity in the country by promoting wind power projects through private sector investment. This is done by providing various fiscal and financial incentives to both domestic and international enterprises.
At UNCOP 26, India made a commitment to step up its climate action by:
- Reach 500 GW Non-fossil energy capacity by 2030.
- 50 per cent of its energy requirements from renewable energy by 2030.
- Reduction of total projected carbon emissions by one billion tonnes from now to 2030.
- Reduction of the carbon intensity of the economy by 45 per cent by 2030, over 2005 levels.
- Achieving the target of net zero emissions by 2070.
Wind energy will play a pivotal role in achieving the above objectives and has already made impressive progress in terms of capacity addition, manufacturing capabilities and other areas in India. India's Central Electricity Authority (CEA) has projected an increase in wind power capacity of 40500 MW from 2022 to 2027 and 53100 MW from 2027 to 2032, amounting to 8100 MW of new installations per year in next 5 years.
It is also significant to mention India's goals of utilising the enormous potential of its 195 GW of offshore energy. Central and State Governments are working together in making this a reality. The power generated from RE can be transformed into transportable power in the form of Green Hydrogen, Ammonia and Methane.
It is the need of the hour for the service providers to innovate new technologies, products, solutions and services that can accelerate this transition to clean energy.
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