Gamesa Plans $2.6 Billion Wind & Solar Investments In India
Originally published on CleanTechies.
Spanish renewable energy giant Gamesa has announced massive plans to implement utility-scale wind and solar power projects in the Indian state of Andhra Pradesh.
Ramesh Kymal, Chairman and Managing Director of the Indian subsidiary Gamesa Renewables, recently stated that the company will invest Rs 17,500 crore ($2.6 billion) in the southern state of Andhra Pradesh.
The company will set up 2,500 megawatts of solar, wind, and solar-wind hybrid power projects. Gamesa will likely take up the model implemented by its competitor Suzlon Energy. The company will likely acquire land and collaborate with interested investors and industries to set up renewable energy projects. Gamesa will be responsible for the construction, commissioning, operations, and maintenance of the projects.
The investment model isn’t new for Gamesa, or the Indian wind energy market, but a focus on a particular state, Andhra Pradesh in this case, is crucial. Andhra Pradesh announced plans to significantly increase the share of renewable energy in its power mix.
The Andhra Pradesh Electricity Regulatory Commission (APERC) has proposed to increase the share of renewable energy in its electricity mix to 25.25% by March 2022. The commission issued a draft regulation which, if approved, will require the state’s utilities to acquire at least 25.25% of the total electricity procurement from renewable energy sources, excluding hydro power.
For non-solar renewable energy technologies, APERC has proposed a target of 12.50% by March 2022. The commission has also proposed to increase the solar power share from 4.75% in 2017-18 to 12.75% in 2021-22. Under the policy, the state government is expected to encourage installation of wind, solar and wind-solar hybrid power projects.
Gamesa is already the leading original equipment manufacturer in the wind energy sector for the last three years in India. The company has also managed to make substantial inroads in the solar power sector by offering engineering, procurement and commissioning (EPC) services.
Reprinted with permission.
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