Corporate Communication
30 August 2024
ReNew
The world is quickly shifting to renewable energy sources, with wind power emerging as a key contender in the fight against climate change. Global statistics and estimates for wind energy illustrate its enormous potential and crucial role in the global energy transition. The International Energy Agency (IEA) predicts that wind will contribute 22-23% of the new renewable power capacity addition in the coming five years.1 Over the next five years (2023-2027), GWEC Market Intelligence anticipates the addition of 680 GW of new wind power capacity globally.2
Wind power, which converts an endless energy source like wind into electricity, offers many economic and environmental benefits.
Due to its enormous potential and benefits, the world is actively seeking to harness wind power.
The global wind energy capacity has increased dramatically from 220 GW in 2011 to about 1017 GW by 2023 as per the International Renewable Energy Agency (IRENA).3 Onshore wind capacity, that forms a major portion of this capacity addition, has grown from 216 GW in 2011 to 944 GW in 2023, while offshore wind projects have expanded from 3.7 GW to 72.6 GW over the same period.3 A 2023 report by the Global Wind Energy Council (GWEC) predicts a CAGR of 12% for onshore wind capacity over the next 5 years.4 The global offshore wind capacity is expected to reach 380 GW by 2030 as per GWEC.5
India is a wind manufacturing hub with a current annual capacity of 10-12 GW.6 With a growing appetite for scaling wind power globally, India has the potential to become a global exporter. The cumulative installed wind power capacity in India stood at 46.4 GW as of May 2024, making it the fourth-largest wind market in the world.7 With a coastline of over 7500 kilometers, India has huge offshore wind energy potential, particularly in regions such as Gujarat and Tamil Nadu. Estimates suggest an estimated capacity of 70 GW of offshore wind energy potential along the coastline of these 2 states.8
Several initiatives by the government of India, like the National Wind-Solar Hybrid Policy, the Green Energy Corridor, and the Offshore Wind Policy, seek to augment India’s wind energy capacity. They would help in delivering the overall vision of 500 GW of non-fossil power generation by 2030, including wind capacity installation target of 140 GW in the same period.
ReNew, India’s leading renewable energy company, significantly contributes to the nation's wind energy sector. ReNew has India’s largest wind portfolio of 4.7 GW, representing 10.5% of India’s total wind energy capacity. These projects are situated in wind-abundant states like Tamil Nadu, Gujarat, Maharashtra, and Karnataka for maximization of energy output. ReNew is pioneering wind-solar hybrid power systems utilizing the strengths of both forms of energy in providing reliable and stable power. Such an innovative approach is not only effective in improving the efficiency of power generation but also in optimizing land use.
Technological innovation is core to ReNew’s strategy and ambition, with the firm working on developments to increase the performance of its wind turbines, reduce maintenance downtime, and enhance the integration of renewable energy into distribution networks. ReNew has been recognized as the world’s first Renewable Energy Lighthouse for its pioneering work in the area of the 4th Industrial Revolution (4IR) at its Ratlam Site, the learnings from which have been implemented across 70+ windfarms and 1,500+ turbines.
Water consumption in ReNew’s wind farms and transmission infrastructure is minimal and is used solely for domestic purposes. AI-powered optical inspection of wind turbine blades enables effective and sustainable management of its wind assets, leading to an impressive 59% reduction in non-degradable waste at respective sites.
So far, ReNew has received several awards for its wind projects like India Green Energy Awards - Outstanding Renewable Energy Producer – Wind, IWPA Awards for Best Performing Wind Farms - Above 2 MW.
As the world moves toward cleaner energy, leveraging global wind energy potential is expected to play a critical part in attaining a sustainable and energy-secure future. Onshore and offshore wind energy will be an important part of the global renewable energy plan in combating climate change. Government policies relating to the wind energy sector, international partnerships, and large private sector investments, particularly from businesses like ReNew, are giving this sector the much-needed push it needs.
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