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Bulking up for Indian wind and solar
29 July 2010
India’s huge coal plants have grabbed the most market attention, but the country’s government wants to perform the same trick – super-sizing – in the renewables sector. Multilateral and ECA lenders are likely to be more enthusiastic about this batch. Robin Sayles reports.
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The Indian wind sector is set to see an increase in project size, after several years of slow growth and small deals. Until now, wind projects have been limited to around 100MW in capacity, and the solar sector has failed to gain a foothold. But large wind farms are on the horizon and for the first time solar looks bright, with a fresh national plan and multilateral support on the table.
India’s ultra mega coal plants, and their ultra mega project financings, have grabbed the limelight in recent years, but behind them lurks a wind sector that continues to consolidate.
India is the world’s fifth largest wind power producer, but with an installed capacity of around 11GW, it sits well behind Spain and Germany, countries with far smaller populations.
Domestic lending dominates India’s wind space, and bankers are sceptical that government incentives will make greenfield wind...
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