Thanks to burgeoning demand from eight windy states.
Wind power installations in India cross 5.4GW for FY17. This is above expectations of 4-4.3 GW and augurs well for the leading turbine makers such as Suzlon, Inox Wind and Gamesa. For FY16, India added 3.4 GW of wind power, according to Maybank Kim Eng.
Reportedly, the industry added 2GW in March'17 vs 1.7GW for March'16. The cumulative wind power capacity in India is now at 31.1GW. To some extent, the acceleration in the wind power installations can be attributed to expiry of the generation based incentives and accelerated depreciation by March'17.
Here's more from Maybank Kim Eng:
The industry is hopeful of 4.5-5 GW of installations for FY18 supported by demand from eight windy states in the country as well as government auctions and crash in prices of wind power bidding.
Reportedly, for FY17 Andhra Pradesh added 2.1GW of capacity, Gujarat 1.3 GW and Karnataka 0.9 GW. Other major additions were done by Madhya Pradesh, Rajasthan, Tamil Nadu, Maharashtra, Telengana and Kerala. India has set a target of achieving wind power capacity of 60 GW by 2022.
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