Techno-Economic Feasibility of Wind Power Farms in India
Dipen Paul1, Poorva Pitke2, Purva Karmarkar3
1Dipen Paul*, Assistant Professor Department of Management, Symbiosis International (Deemed University) Pune, India.
2Poorva Pitke, Assistant Manager, Department of Mechanical. Symbiosis International (Deemed University) Pune, India.
3Purva Karmarkar, Department of Environmental Science, Symbiosis International (Deemed University) Pune, India.
Manuscript received on February 10, 2020. | Revised Manuscript received on February 23, 2020. | Manuscript published on March 10, 2020. | PP: 1041-1046 | Volume-9 Issue-5, March 2020. | Retrieval Number: E2607039520/2020©BEIESP | DOI: 10.35940/ijitee.E2607.039520
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Wind is a powerful and renewable source of energy that flows in every corner of the surface of the planet. As the world moves towards renewable and alternate energy sources, the potential of wind energy has been recognized and methods to use it to its maximum potential are being explored. India has been harnessing wind power over the years, but only lately, it has sent an ambitious target of achieving 60 gigawatts (GW) of wind installed capacity by 2022. The government has issued several tenders to invite private players or Independent Power Producers (IPPs) to develop wind energy projects. Many foreign investors and the Private Equity players have shown interest in investing in this growing renewable energy (RE) market in India. However, developing a wind project comes with lot many challenges as compared to any other RE project. These challenges range from land availability to seeking grid connectivity approvals and evacuation of the power. Along with this, the current reverse bidding process for the tariffs, have made the per unit tariffs to cost as low as INR 2.4. Hence, it is important to consider the technical and commercial feasibility of the project to function at these tariffs. This paper studies the current scenario of wind energy in the Indian market and analysis the potential for the development of wind projects. It also analyses the technical and commercial feasibility of the project by assuming a 300 MW project, having INR 2.5 as tariff, using Wind Resource Assessment (WRA) and Financial Model.
Keywords: Clean Energy, Renewable Energy, Sustainability, Wind Energy, Wind Resource Assessment.
Scope of the Article: Cloud Resources Utilization in IoT