Bhilwara Energy Ltd, part of the LNJ Bhilwara Group is investing Rs. 1,000 Cr (USD 250 million) in the North East region of India to generate 100 MW of Geo thermal power..
This is the first such scheme to come out of India that I have heard of. The article has some other valuable information.
India has a geothermal power potential of 10,600MW, though the country is yet tosee a single commissioned project that harnesses this technology. Other benefits of geothermal projects include the fact that it needs much less land than a conventional power plant.
“Though the capital cost for generating energy through geothermal is Rs8 crore to Rs10 crore per MW, the operating cost is minimal. We are looking for developing such projects in Himachal Pradesh, Ladakh, Andaman and Nicobar islands, Chhattisgarh and Uttarakhand. We will also be applying for blocks in the remaining states,” said Ravi Jhunjhunwala, chairman, LNJ Bhilwara Group. “These projects will also entitle us to earn carbon credits,” added Jhunjhunwala.
[...]
“Geothermal energy has a good future in the country. It will, however, not compete with oil or gas. Even (the) world over it is being viewed as a viable energy alternative,” said D. Chandrasekharam, professor, department of earth sciences at the Indian Institute of Technology Bombay.
The only issue is that they are not predicting the cost of a KwH when sold to the consumer and also, the last statement by Prof. Chandrasekharan does not make sense. In one hand he says it cannot compete with oil and gas and on the other, it is a viable energy alternative.
In the case of India, with the possibility of earning carbon credits can make it a good economic opportunity.
