Renewable energy has taken the world by storm. Due to the rising environmental changes the government along with the various organizations have taken up the initiative of reducing the emission rate and controlling the over utilization of the nonrenewable fuels. The renewable energy is expected to help the economy of the nation in the coming years.
For now, China is dominating in terms of solar revenue and India is expected to follow its footsteps in the coming years. The Indian companies are transitioning from nonrenewable to renewable source of energy use for helping the country excel in the field of green energy. After the Budget 2017, India set up a certain target for the renewable energy market growth. The companies all around India, which playing an important role in the generation of power, have already started taking steps in order to reach the goals set.
ABB India one of the best power equipment company has surpassed its green target of 4.5 GW renewable energy capacity by providing about 2000 power equipment all across the regions in the country. According to an official of ABB India, the generators required for the wind turbines are developed in Gujarat in the city of Vadodara.
The Budget 2017 has increased the chances of new wind projects or any other renewable energy projects coming up. There is a sudden narrowing in the prices of electricity generated from the solar, wind, geothermal, and water resources which enhance the use of these among the masses on a larger scale.
Till date, India has a wind power capacity of 28 GW installed. India, as per the Budget 2017 target of 60 GW, has already taken the initiative seriously and started accelerating towards the achievement of the goal. The policies and regulatory incentives are expected to support the country reach its goal by 2022.
According to the Indian Wind Turbine Manufacturers’ Association, the financial year for the wind projects is expected to reach 4 GW by the end of March. ABB India has outshined its goal by supplying generators for around 40,000 wind turbines across the world.