Tata Power partners with RWE to develop offshore wind projects

Tata Power Renewable Energy Limited has partnered up with RWE Renewable GmbH, a German-based green energy supplier, to explore the ability for joint construction of offshore wind projects in India. Both the firms signed a Memorandum of Understanding (MoU). It is in line with the Central Government announcing accomplishing 30 gigawatts (GW) of offshore wind installations by 2030. RWE and Tata Power Renewable Energy have complementary powers, and it would promote building a competitive offshore wind market across the country. India is a highly attractive market to create offshore wind opportunities as it is unexplored and has a massive coastline of around 7,600 km. The RWE Group has over 120 years of experience in electricity generation. It was established in 1898 as a municipal utility. Today, RWE is a leading global player in renewables. It is committed to contributing its long-term technical and commercial expertise in India. By 2030, RWE plans to triple its worldwide offshore wind capacity from 2.4 GW to 8 GW (capacity represents RWE share only). Tata Power has a heritage of more than 100 years and via Tata Power Renewable Energy Limited, it would contribute its deep understanding of the regional electricity market and regulation. The firm has a strong portfolio in the renewables landscape of India, including a total capacity of 4,909 MW, out of which around 1,854 MW is under execution. Image Source Also read: Tata and Adani to bid for UP Power Transmission Co