Global Wind Day

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Global Wind Day

As we celebrate ‘Global Wind Day,' the future of renewable energy holds immense promise. Integrated multi-source renewable energy power plant solutions, with wind energy at the forefront, will shape our roadmap to a carbon-neutral future.

India, with its ambitious net-zero target by 2070, has made significant progress in wind energy, currently ranking fourth globally. As one of the largest developing economies in the world, with a population of over 1.4 billion people, India's transition to a green economy will be transformative, benefiting not only the nation but also the entire planet. India has the potential to lead in manufacturing green hydrogen and low-carbon technologies, creating an estimated $80 billion market by 2030.
India has emerged as a bright spot in the global economy, driven by investments in manufacturing, energy transition technologies, and advanced digital infrastructure. However, as we commemorate 1 Terawatt of Wind Energy, it is essential to confront a sobering reality. As the third-largest oil-importing nation, India's expenditure on oil imports in FY22 alone amounted to a staggering $119 billion. With the growing demand to fuel our economic growth and meet the needs of a growing population, this bill is set to rise. Transitioning to affordable green power can not only reduce our oil import bill but also enhance competitiveness, support the agrarian economy, control inflation, lower interest costs, and strengthen the currency. Moreover, this transition is projected to create 3.5 million sustainable jobs, driving economic and social development.

India's current renewable energy capacity stands at 168.96 GW (as of Feb 28, 2023), with 82 GW under implementation and 41 GW in the tendering process. This includes 64.38 GW of solar power, 51.79 GW of hydropower, 42.02 GW of wind power, and 10.77 GW of bio-power. To achieve our ambitious target of 500 GW of renewable energy by 2030, an estimated investment of $1.3 trillion is required. We have already laid a strong foundation for generation capacities, and now the focus is on scaling up the adoption of green power across all sectors. India is uniquely positioned to seize this unprecedented opportunity.

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