India wind market to billow by 50% in the next five years | Asian Power

India wind market to billow by 50% in the next five years

The country will see 20.2 GW of new wind power capacity between 2021 to 2025.

The wind market in India is on the road to recovery, with an expected 50% growth surge in the next five years, according to a joint report by the Global Wind Energy Council (GWEC) and MEC Intelligence.

The report said that the country will see 20.2 gigawatts (GW) of new wind power capacity between 2021 to 2025, increasing India’s 39.2 GW wind market by nearly 50%.

This marks a clear signal of the market bouncing back after a slow-down in recent years, the report added.

“India’s wind market moved forward last year with new tenders, new capital, and new policies. Wind will be the central axis of renewable energy portfolios as we move from renewable energy making up less than 10% of the country’s energy matrix today, to more than 30% by the end of this decade. We will see higher revenue for electricity generation that matches the buyer’s needs, which means generation of electricity at the time and the quality they need. This is where wind will be critical,” said Sidharth Jain, chief executive officer and founder of MEC Intelligence.

2020 was originally forecasted as a break-out year for wind power in India but the pandemic halted the market’s advances. The forecasted installed capacity of 3.3 GW of wind power of 2020 was cut down to only 1.1 GW, with the remaining capacity pushed into 2021 or dropped by developers.

India currently has a pipeline of projects of 10.3 GW in both central and state tenders, which are expected to drive installations until 2023. The market post-2023 will likely be driven by nearly 10 GW of new capacity awarded to wind projects, mainly through hybrid projects which are becoming increasingly important for the country’s "round-the-clock" power initiative.

Get Asian Power in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

The plant’s 40-year license expires in 2025.
The company plans to go carbon neutral by 2050.
The plant will produce around 550 tons of hydrogen a year.
It plans to invest A$1b in renewables and low carbon energy.
Deadline for entries to the inaugural awards programme is on 24 September.
The shares were bought for $453m.
The power minister said energy transition is taking place at a rapid pace.
Newly appointed Daniel Westerman wants the grid to handle 100% renewable energy by 2025.
This is the company’s first venture into Korea's offshore wind market.
The PV farm has a 60 MWp capacity.
The project has an estimated cost of $100b.
The plant has a capacity of 4.75 GW and would be built in Gujarat, India.
The company plans to transition to low-carbon.
The government made the decision a year after the plant’s completion.