GE TURBINES MAKE WIND CHEAPER THAN COAL IN INDIA

GE Turbines Help Greenko Drive Wind Power Cost Below Coal

Natalie Obiko Pearson, July 18, 2012 (Bloomberg BusinessWeek)

“The cost of wind power has dropped below the price of coal-fired energy in parts of India for the first time as improved turbine technology and rising fossil-fuel prices boost its competitiveness, Greenko Group Plc (GKO) said…

“The cost of wind has closed in on coal thanks to more advanced turbines, which can produce more electricity from lower wind speeds. The shift means new wind farms in India will be able to survive without state subsidies, potentially attracting investors to a country where 57 percent of installed capacity is coal-based and 31 percent renewable, including hydropower.”

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“Greenko began operating its first wind project in Ratnagiri in Maharashtra state this year using 1.6-megawatt GE turbines designed for low winds. That farm is…[getting an unprecedented in India] 30 percent plant load factor…[Greenlo] has signed agreements for more than 1,000 megawatts of wind capacity and a three-year contract to buy at least 450 megawatts of GE turbines. State power distributors in places such as Karnataka, Rajasthan, Maharashtra and Andhra Pradesh…[are buying] because we’re cheaper…”

“The economics of Indian wind developments may lure investors away from markets such as the U.S., where the end of a tax break for wind-power utilities could cause a 75 percent slump in new installations next year…The current cost to build wind farms in India is [still] about $1.25 million a megawatt…[with] turbines that are 20 percent more efficient than in the past…”

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