Climate change concerns, coupled with high oil prices and increasing government support, are driving new legislation, incentives and commercialization in renewable energy. Renewable energy is growing rapidly. Today, about 19% of global energy consumption come from renewable sources. Harnessing of wind energy could play a significant role in the energy mix of every nation. Wind power is growing at the rate of 30% annually, with a worldwide installed capacity of 158 Giga Watts (GW) in 2009, and is widely used in Europe, Asia and the United States.
With energy demand far outstripping supply, wind power is an attractive business proposition in India. Spero’s windmill units which are spread across the Southern Indian state of Tamil Nadu have a capacity of almost 3 Mega Watts. In addition to being sold, all Spero’s power usage is offset by wind power, making Spero a carbon neutral company.