NewEnergyNews: INDIA PROMISES 60 GW OF WIND BY 2022

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    Friday, October 02, 2015

    INDIA PROMISES 60 GW OF WIND BY 2022

    India pledges 'bold' 60GW wind target

    David Weston, 2 October 2015 (Windpower Monthly)

    “The target was set by the government as part of India's COP21 pledge ahead of the talks taking place in Paris in December to decide on a global deal to prevent further climate change…[T]he government will look at the development of smaller and efficient turbines, low-wind turbines and offshore projects to meet the target…India has the potential to install over 100GW of wind and is currently the world's fifth largest wind power producer with 23.76GW installed – over 65% of it renewable capacity…[T]his week, the Reserve Bank of India cut its repo interest rate by more than expected from 7.25% to 6.75%. The repo rate is the rate at which the central bank lends money to commercial banks which it is hoped would make investments in wind projects more attractive…India [just] moved up to third behind the US and China in Ernst and Young's renewable energy investment attractiveness index…” click here for more

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