According to a recent US Energy Information Administration (EIA) report, worldwide energy consumption will grow 53% from 2008 to 2035, with about half of that demand coming from rapidly-developing economies in China and India.
Even though those countries have not yet imposed rigorous greenhouse gas emissions standards, China, in particular, has been leading the world in clean energy development. But India may not be far behind.
This morning, GE Energy Financial Services and Indian-based Greenko Group are partnering to develop 1 GW of wind power in India. GE will be contributing $50 million and will support 500 MW of turbines, while Greenko has committed $65 million and created a new subsidiary to manage the project, Greenko Wind Projects Private Limited.
“Wind power is an increasingly important part of the Indian energy market, and through our partnership with GE, a global energy leader, we are well positioned to play an important role in helping to meet the country’s energy needs with clean power,” said Greenko CEO and Managing Director Anil Kumar Chalamalasetty in a statement.
The first in the slew of upcoming Greenko development will be a 65 MW wind farm in Maharashtra, which will use 1.6 MW GE turbines. The turbines will be assembled at GE’s facility in Pune, India. See images of GE turbines and read about their development.
According to Greenko data, wind is the fastest growing renewable in India, with an average growth rate of 30% and a potential of 45,000 MW of wind power, only 25% of which has been developed. European countries have also been rapidly developing their wind portfolio. Read more: European Wind Sector Set For Growth.
Photo Caption: Indian Prime Minister Manmohan Singh smiles after inaugurating Golden Jubilee celebrations for the state owned Shipping Corporation of India in Mumbai on October 1, 2011.