Kutch park to open 18 Gw opportunity for Wind energy OEMs Siemens Gamesa, Suzlon, and Vestas

In India’s latest push for global leadership in the renewable energy space the PM Narendra Modi will lay the foundation stone for the largest renewable energy park in the world On December 15, 2020, the land earmarked for the project is in the wastelands of the Kutch desert.

This is a big reform project which was led by the PMO and ensured timely clearance from the defense secretary. India’s renewable push has faced a lot of delays due to land allocation which has led to many investors not sharing the same bullishness shown by the government.

The kutch project is one of the biggest reforms push to ensure easy and cheap land availability in the highest potential wind and solar pockets.

The Kutch site opens up an assured volume of 18GW for the wind OEMs which was affected by delayed projects and lower auctions for the last 3 years. The leading OEMs SimensGamesa, SUZLON, and Vestas collectively delivered just 6 GW in the last 3 years mostly due to the transitioning to auction regime.

Suzlon was the worst hit with piling debt and reducing volumes almost led the OEM to bankruptcy and the bankers had to step in to save the imminent collapse of the company.

The Kutch park is a respite to the Wind Energy sector as it assures land to power generators to quickly execute projects and secure easy funding.

Suzlon is the only OEM that has land allotted in phase 1 of the hybrid park, it has secured an allotment of 9500 ha in name of the sister company Sarjan Realities the leasing company which can help develop 4.5GW worth of installations.

The SECI has been allotted 23,000 ha at the exclusive wind zone park has been allotted to Solar Energy Corporation of India (SECI) to set up wind projects under the competitive bidding route policy. This wind park will have a combined 12 GW worth of capacity and all put together there is a total of 18 GW worth of projects which will open up for the industry in the coming 2 years.

The companies have to install 50% of the capacity in the coming 2 years hence we can see immediate volume realization for the wind equipment OEMs.

This should help the industry with the required volumes to utilize their capacity and improve on the technology.

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IndianRENews

IndianRENews

All the news and current affairs about the roaring renewable energy market in India.

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