Feature Article

With an installed renewable energy capacity of over 7,420 MW, Tamil Nadu occupies the top slot amongst all states in the sector. Wind power capacity, which accounts for more than 90 per cent of the state's installed capacity, has been the anchor of its renewable energy installations.

The international energy studies department of the environmental energy technologies division of the Lawrence Berkeley National Laboratory (Berkeley Lab) has released a report that reassessed India's wind potential. The study results points to the scope for detailed research on evaluating the country's true potential in the sector.

The renewable energy certificate (REC) market, after being in operation for only over a year, has already come a long way. Its market value, that is, the total value of REC's cleared, peaked at Rs 632 million in February 2012, compared to a mere Rs 585,000 in March 2011 when the first RECs were traded in India.

Despite global economic slowdown and subsequent policy changes, renewable energies and particularly wind managed to attract substantial funds. Through the year there was hectic activity in the financial circles as new projects attracted funds, loans were given out to finish those in the pipeline and financial support was forwarded to Merger and Acquisition activity.

Hardly a week goes by without the appearance of yet another press release or newspaper article on plans for a large-scale ground-mounted PV installation in India. With uncertainty hanging over the two biggest markets-Germany and Italy-solar interest has naturally been drawn toward other potential markets. The current flavor of the year is India.