India’s Tata Power Plans to Make More Purchases on Wind and Solar

Tata Power in India is looking to acquire more investments in the renewable energy industry, focusing their efforts on wind and solar power. Last month, they bought a wind farm in Gujarat from the AES Corporation. The Tata group, an Indian conglomerate that specializes in practically everything, is the third largest utility company in the nation according to the Thomson Reuters India Index. They are planning a big expansion of their wind generations efforts, hoping to add 150-200 MW of wind power generation and 30-50 MW of solar power every single year. A lot of companies who have invested into solar and wind operations of their own began contacting Tata Power about selling off their investment. The economy is sorely starved for energy due to coal and natural gas, and utilities like Tata are really eager to reduce their dependence on what could turn out to be less and less available. However, a lot of factors are killing the growth of renewable resources. The land that’s required to build the expansive solar panels and wind arrays as well is bidding wars that constantly drive the price lower and lower and making it hard for the renewable energy market to really pick up.

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