Shri Saurabhbhai Patel, Hon’ble Minister for Finance and Energy, Govt. of Gujarat
Dignitaries on dias, friends from media, ladies & gentleman
I feel proud and privilege to address this august gathering.
As all of us know that energy is a very important input for any economy to grow and at the same time it is the sector which faces many challenges.
The following 3 vital enablers are required for building a global sustainable energy sector
- Affordable energy to all
- Should bring low carbon economy
- Should bring long-term sustainable employment and growth
The answer to the above lies in Renewable Energy. That is the reason, the mankind is witnessing rapid growth and importance of Renewable Energy globally.
Among all renewable energy sources wind has established its position as the most competitive and viable renewable energy option.
As of now the installed capacity of wind energy is 300 GW globally which is likely to reach 1400 GW by 2030. That means around 70 GW capacity addition every year.
The wind energy penetration in the grid is
35% in Denmark,
21% in Spain,
15% in Germany and
Around 2% in India.
The global penetration of wind energy is around 3% which is likely to be 12% by 2030.
Looking to this, India has huge potential from going 2% to 30% penetration in the future.
Today globally 60 countries are investing in wind power projects.
And wind energy accounts for around 20% of new capacity addition in power sector globally.
On technology front, wind energy sector offers the most matured and high reliable technology options.
The turbine size has increased in the range from 2 MW – 6 MW.
Biggest advantage of Wind Energy is that it is extremely cost competitive compared to conventional source of energy.
In USA, the cost of energy from wind comes to USD 40 per mWh, which is the lowest cost of energy in the world.
This is mainly because of reliable and matured technology and the low cost fund at around 4% interest per annum.
Today in US, wind is competing gas energy which was considered to be lowest in that country.
Presently Wind Energy is the highest growing industry with around 30% growth rate annually.
In developed countries, the recent trend of growth is witnessed more on offshore wind energy due to the higher PLF of around 50% and shortage of land mass for onshore installation.
The offshore wind energy sector is also growing by 30% annually.
The high growth countries for offshore are Germany, Belgium, France and UK.
Recently Japan has also come up with feed-in-tariff policy with a view to harness its 50 GW offshore potential.
China is having offshore potential of 100 GW And India is also having 100 GW of offshore wind power potential.
Next phase of growth is going to be in the offshore sector.
On energy front, India is having approx 270 GW of installed capacity which is likely to reach 1000 GW by 2030.
Thus, energy need of the country is very high and the country needs to build robust energy portfolio.
Wind Energy can play very important role in this energy mix.
India is the 5th largest wind energy producer in the world with installed capacity of 21000 MW.
The potential in India for onshore wind project is 200 GW and for offshore it is 100 GW.
Next generation wind turbines are today available in India with hub height of 120 mtr and with larger rotor diameter.
Because of this the earlier unviable sites are becoming viable today.
India is having a very strong wheeling and banking arrangement making wind a very viable option for captive consumption.
With the recent announcement 80% accelerated depreciation by the new government of India, the investment in wind sector has become more feasible SME sector
In India the current energy deficit is 35 GW and 350 mn people in the country doesn’t have access to energy.
With a view to achieve sustainable growth in energy sector, the 5 major sources of energy are Hydro, Nuclear, Gas, Wind and Solar.
These 5 sources are capable to bring long-term energy security for our nation.
Today India is having best technology for wind energy and is now exporting the same to various countries across the Globe.
Currently the capacity addition in India is about 2000 MW per year and in the coming years it is going to be around 4000 MW.
I feel proud to mention that Suzlon is not only an Indian company but our roots are in Gujarat.
Suzlon has in its portfolio today a wide range of turbines ranging from 600 kW to 6 MW.
We are the lowest cost/kwH producer in the sector globally
We are the 2nd largest in offshore wind energy market.
We are the 5th largest in the global wind energy market.
Today our total installed capacity of the group is 25000 MW spread across 32 countries.
I urge the students of PDPU who are present here to build your career in Renewable Energy sector because going forward this is going to be a long-term sustainable sector in India.
Our group is working for to create a sustainable world and providing affordable sustainable energy access to all.
Let us build a greener tomorrow.