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Global Wind Report 2022

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Global Wind Report 2022

Recently the “Global Wind Report 2022” of the Global Wind Energy Council has been released. This report examines all the challenges faced by the increasing wind power capacity in an increasingly interconnected world.

These challenges include supply chain geopolitics, social impact, propaganda, cyber security and cryptocurrencies.

The Global Wind Energy Council is an international trade organization for the wind energy industry.

Highlights of the report:

  • In the year 2021, the global wind industry added 94 Giga-Watts (GW) of wind power capacity globally. This was only 1.8% less than the record growth of the year 2020.
  • A capacity of 72.50 has been added globally by the onshore wind power market. This is 18% less than the previous year. The reason for this was the decline in the world’s two largest wind energy markets such as China and the United States.
  • To limit global warming to 1.5°C, annual wind power installations need to be increased four-fold by 2030.

Wind Energy in India:

  • The Ministry of New and Renewable Energy has estimated that by the year 2030, 140 GW of wind power capacity will be required. A target of 30 GW from offshore wind power has been set.
  • The installed wind power capacity in India as of January 2022 was 40.1 GW. India ranks fourth globally in this regard. At present, wind energy accounts for 10.2 per cent of the renewable energy generation in India.
  • The World Bank has mapped 174 GW of fixed, and floating offshore wind power potential in India’s coastal region. Most of the wind energy resources are present in the offshore region of Tamil Nadu. The offshore region of Gujarat has better wind energy resources.
  • Innovative financing arrangements like blended finance and green/spice bonds have been adopted. This is likely to boost the availability of finance for renewable energy projects.

Source – The Hindu

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