Powerless against policy winds
Lately, the winds in India have been blowing slowly. A sector that saw spectacular growth over the past decade has slowed down significantly over the last year. In the first half of the year, the industry recorded close to a 40 per cent dip in its installations. This is a stark reflection on reforms that have perhaps lost their momentum.
Recent reports peg the potential for exploitable wind energy in India at 300 GW. This is far in excess of earlier estimates. The share of renewable energy in the country’s total energy mix has increased from 7.8 per cent in financial year 2008 to 12.1 per cent in 2012. Not only is there an abundance of wind energy, it is also at an affordable cost: The levelised cost of energy for 20 years is Rs 4.5 and for 10 years stands at Rs 6 per unit.