Wind-solar Hybrid Power Projects in India Continue To Grow
Nov 16, 2022
In recent weeks, investors have continued to inject large amounts of capital into hybrid wind-solar power projects in the Indian state of Karnataka. PTC India has also launched an oversubscribed bid of 1 GW.
In recent weeks, eight companies have invested over US$9.2 billion in the renewable energy sector in Karnataka, India. Investments in the wind-solar hybrid energy sector have come mainly from companies such as Azure Power , Ayana Renewable Power and Tata Power Renewable Energy and Leap Green Energy.
"Hybrid energy is the future of renewable energy. Pure wind or pure solar power can no longer completely meet the 24/7 electricity needs of consumers," said Pratik Agarwal, Managing Director of Sterlite Power. Karnataka is a state that has the potential for both wind and solar power. The state also has several alternative dam sites for pumped storage facilities, which are a key component of the 24-hour power supply value chain."
In addition, PTC India said it has received several offers for a 3.5 GW hybrid wind and solar power plant and a total of 14 developers have responded to its offer, including Tata Power Renewable Energy and Enel Green.
