Wind energy sector in India to see 50% growth in the next five years

07 Jun 2021 CW Team

A report titled 'India Wind Energy Market Outlook 2025' has said India is expected to add around 20.2 GW of new wind power capacity in the 2021-25 period, indicating a 50% growth as compared to the current 39.2 GW installed capacity of the country.

As per the report, it's a clear signal that the market is starting to bounce back after a slow-down in recent years. According to the report by the Global Wind Energy Council (GWEC) and MEC Intelligence, the impact of lockdowns on India's wind energy market had been severe than expected, with just 1.1 GW installations out of 3.3 GW originally forecasted for 2020.

It said that the pace of new installations is likely to double over the next two to three years as compared to the average installations since 2017, the market began to slow down. Currently, India's pipeline projects of 10.3 GW, both in Central and state tenders, are expected to drive installations until 2023.

The report further added that the market post-2023 is likely to be driven by 10 GW new capacity installations awarded to the wind projects, mainly through hybrid projects that are becoming important for the round-the-clock power initiative of the country. It said that, over the next five years, 90% of new wind capacity installations would come from central tenders, followed by the corporate procurements and state markets.

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Also read: SECI floats tender for 1.2 GW ISTS-connected wind projects

Also read: Wheels India plans Rs 100 cr capex in FY22 for wind energy sector

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