Tamil Nadu’s $10 -billion green energy island to get Denmark aid
With Tamil Nadu looking to expand its footprint in green energy, the state is likely to see a $5-10 billion renewable sector investment with Danish participation, including an energy island in the Gulf of Mannar.
The island may produce 4-10 Gw. A delegation of experts from Denmark, led by Energy Minister Dan Jorgensen, met Chief Minister M K Stalin on Wednesday.
If it materialises, the project will be the first offshore floating wind park in India.
The Gulf of Mannar lies between the west coast of Sri Lanka and the south-eastern tip of India.
This comes days after the Tamil Nadu Generation and Distribution Corporation (Tangedco) announced its plans to come up with 20,000 Mw of solar power projects with adequate battery storage, 3,000 Mw of pumped storage hydroelectric projects, and 2,000 Mw of gas-based power units in the next 10 years.
These projects are expected to require loans of around ~1.32 trillion.
The Denmark delegation included Ambassador Freddy Svane and Asser Rasmussen Berling, head of the energy department, representatives from 18 Danish companies, the ministry, and industry chambers.
In March, Svane had visited Chennai and held talks with N Muruganandam, principal secretary (industries), and other officials.
“Important discussion points included creating a centre of excellence for offshore wind energy in Chennai, envisioning an energy island – an offshore wind farm in the Gulf of Mannar and an immediate action plan for climate change by the government of Tamil Nadu,” said a government official.
Some important Danish companies in Tamil Nadu are Vestas, Cubic, Maersk, Grundfos, Flsmidth, and Danfoss.
The value of Danish investment in Tamil Nadu between January 2003 and January 2021 is estimated at $ 751.72 million. Companies that have marked their presence in other parts of India include Novo-nordisk, A.P.
Moller Maersk and Ramboll. In the last decade Denmark has invested over $1 billion in the country. Around 200 Danish companies are operating in India.
Indian companies that have a presence in Denmark include Tata Consultancy Services, Infosys Technologies, ITC Infotech, and L&T Infotech.
In a visit by External Affairs Minister S Jaishankar to Copenhagen, a key point of discussion was green strategic partnership and health.
This was the first visit by an Indian foreign minister to Denmark in 20 years. Jaishankar had met the chief executive officers of Grundfos, Vestas, Maersk, Haldor, Topsoe, and CIP.
The British government recently announced it would invest around $1.2 billion in India’s renewable energy space through public and private participation.
India has lined up a plan of around 450 Gw of renewable energy by 2030. Several industry majors like Reliance Industries and Adani Group have announced their roles in it.