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Ministry of New and Renewable Energy India to provide incentive of upto 50% project cost for Tidal power projects

As Panchabuta had reported earlier this year, the Indian State of Gujarat has approved a 50MW tidal power project to be constructed in the Gulf of Kutch. The MoU was signed as part of the Vibrant Gujarat Summit 2011 and a total of 250MW of future tidal power development was agreed under the terms of the MoU.

The State of Gujarat has agreed terms with marine energy developer Atlantis Resources Corporation who will partner with Gujarat Power Corporation Limited on the landmark project that could commence construction as early as 2011.

Atlantis recently conducted an economic and technical study of prime sites in the Gulf of Kutch where as much as 300MW of economically extractable tidal power resource was discovered.

According to this report, India’s Ministry of New and Renewable Energy said it may provide financial incentives for as much as 50 percent of the cost for projects seeking to demonstrate how to produce electricity from ocean tides.

The ministry is considering providing the financial incentives to state agencies to develop tidal energy projects as technology demonstration projects, according to a written response to parliament by Minister of New and Renewable Energy Farooq Abdullah.

India may have the potential to produce more than 8,000 megawatts of tidal power along its western coast, he said. A government study has found 7,000 megawatts of potential in the Gulf of Cambay and 1,200 megawatts in the Gulf of Kutch, both located in Gujarat state, he said.

The ministry has approved a 3.75-megawatt demonstration plant on India’s eastern coast that will be developed by the West Bengal Renewable Energy Development Agency, he said. West Bengal’s Gangetic Delta could hold as much as 100 megawatts of potential, he said.

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