CleanTech/ Renewable Energy, Other, solar, Wind

Oil India bets big on wind, solar power

According to reports, for energy companies, the answer literally appears to be blowing in the wind as they try to improve their green image. Betting big on government sops and lucrative carbon credits, more and more oil and power companies are setting up wind power stations for either captive use or supplying to the grid.

While most of such projects were conceptualized as captive energy sources, the trend now is geared at supplying to the grid. Northeast explorer Oil India Ltd is the latest example.

The company’s latest venture — a 54 mw wind farm at Dangri in Rajasthan’s Jaisalmer district set up at a cost of Rs 360 cr – is supplying electricity to the state utility at Rs 5.16 per unit. The company had last year entered the renewable energy sector with a 13.6 mw project in the state. It has also made a beginning in solar energy with solar plants of 100 kW each at Jaisalmer and home state of Assam.

ONGC started the trend of diversifying into renewables with a Rs 650 crore plan. Its first unit of 51 mw at Bhuj last June earned 121,207 carbon credits from the UN body on climate change for.

State-run generation NTPC too has a corporate plan to produce 650 mw wind power as part of a strategy to add 1,000 mw generating capacity from renewable sources, including 650 mw from wind farms. Other companies with similar plans include GAIL and IOC.

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