Riding the Wind: Examining the Expanding Wind Turbine Market in India

Subh0920 Jun, 2024News

The wind energy industry in India is a rapidly expanding powerhouse. This investigation explores the state, potential, and growth drivers of the Indian wind turbine market. Find out how India is using wind power to meet its clean energy targets. Wind power capacity in India continued to grow robustly in 2019, supported by the central government reforms as well as state-level policies. Furthermore, reduction in power tariffs due to improvement in the cost and performance of wind power over the year have also driven high wind capacity additions in India. However, India installed only ~3 GW of wind capacity in 2019 which is close to 34% below the estimated targeted wind capacity. The dismal response of the wind capacity addition is mainly attributed to the financial stress of turbine makers, land acquisition issues and grid connectivity delays and denting investors sentiments due to re-opening of wind PPAs. Moreover, given the already stress and weak funding atmosphere, any misstep woul