Economics of Installing Wind Turbines Across the Palk Strait
6 Pages Posted: 28 May 2019
Date Written: April 30, 2019
Offshore wind energy is the use of wind farms constructed in the ocean, on the continental shelf, in order to harvest wind energy and generate electricity. Nations across the world are planning or have already installed offshore wind farms. One such promising geographical location appears to be the area in and around the Palk Strait between India and Sri Lanka. The Palk Strait and the surrounding area is a patch of shallow, open sea, flanked on both sides by two emerging market economies. The demand for energy in the region provides ample opportunity to explore the harvesting of wind energy for electricity generation. This paper examines the economic feasibility of such a venture.
Keywords: Palk Strait, India, Sri Lanka, South Asia, Wind Energy
JEL Classification: N75, O13, P18, P28, Q42
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