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Inox Wind says hybrid wind-solar policy will boost growth

Inox Wind Ltd, India’s second largest wind-turbine maker by market share, expects to get a boost from the upcoming wind-solar hybrid policy, the newly-announced central tender of 1 gigawatt (GW) under reverse bidding, and implementation of a renewable generation obligation (RGO) on power producers, the company’s executive director Devansh Jain said in a phone interview on Monday.

The Central government also recently announced awarding 1GW of wind power projects connected to the Central Transmission Utility under reverse auction in a bid to ease transmission of wind power to non-windy states. In a reverse auction, the role of buyer and seller is reversed and a business bid is won by an entity quoting the lowest price. Only eight states in India are suitable for wind power projects—Gujarat, Karnataka, Maharashtra, Andhra Pradesh, Tamil Nadu, Rajasthan, Madhya Pradesh and Telangana. These states use feed-in tariffs, which effectively compensate generators of wind and solar power by setting a price per unit that covers their cost and guarantees a certain rate of return.

India has set itself a target of achieving 100GW of solar energy and 60GW of wind capacity by 2022. It currently has 27GW of wind and about 8GW of solar capacity installed.