India to Boost Wind Energy Capacity by 25 GW by 2028

22 May 2024 CW Team

The push for increased wind power capacity is largely driven by the need for renewable energy sources that can provide continuous power supply and grid balancing, unlike solar power which is restricted to daylight hours. "Hybrid and storage-linked projects would push higher wind additions. Nearly 30-50% of the capacity of these projects will comprise wind power as these require developers to provide renewable power throughout the day, especially during evening and night hours," stated Ankit Hakhu, Director at Crisil Ratings.

India's wind energy sector had previously experienced a slowdown, with annual capacity additions dropping to 1.7 GW from 2018 to 2023, a significant decline from approximately 3.0 GW annually between 2014 and 2018. This decline was attributed to a scarcity of connected sites with high wind potential and reduced returns for developers following aggressive bidding.

In response, the Indian government has introduced several policies to reinvigorate the sector, including setting a target to auction 50 GW of renewable projects annually, with 10 GW specifically for standalone wind projects. Since fiscal 2023, about 5 GW of standalone wind projects have been auctioned, an increase from around 3 GW in fiscal years 2021 and 2022. Additionally, auctions of hybrid and storage-linked projects have surged, from 4 GW in fiscal years 2021 and 2022 to nearly 18 GW in fiscal years 2023 and 2024.

"Average tariffs have stabilized around ?3.2 per unit in fiscals 2023 and 2024 and are expected to continue in fiscal 2025, compared to ?2.8 per unit over fiscals 2020-2022. These tariffs are expected to be viable and remunerative to developers at the expected project costs over the medium term," added Varun Marwaha, Associate Director at Crisil Ratings.

This projected expansion underscores India's commitment to enhancing its renewable energy infrastructure to meet growing energy demands sustainably.

India is on track to significantly increase its wind energy capacity, with a projected addition of nearly 25 gigawatts (GW) between fiscal years 2025 and 2028, compared to about 9 GW added between 2021 and 2024, according to Crisil Ratings. This ambitious expansion is expected to involve a capital expenditure ranging from ?1.8 lakh crore to ?2 lakh crore. The push for increased wind power capacity is largely driven by the need for renewable energy sources that can provide continuous power supply and grid balancing, unlike solar power which is restricted to daylight hours. Hybrid and storage-linked projects would push higher wind additions. Nearly 30-50% of the capacity of these projects will comprise wind power as these require developers to provide renewable power throughout the day, especially during evening and night hours, stated Ankit Hakhu, Director at Crisil Ratings. India's wind energy sector had previously experienced a slowdown, with annual capacity additions dropping to 1.7 GW from 2018 to 2023, a significant decline from approximately 3.0 GW annually between 2014 and 2018. This decline was attributed to a scarcity of connected sites with high wind potential and reduced returns for developers following aggressive bidding. In response, the Indian government has introduced several policies to reinvigorate the sector, including setting a target to auction 50 GW of renewable projects annually, with 10 GW specifically for standalone wind projects. Since fiscal 2023, about 5 GW of standalone wind projects have been auctioned, an increase from around 3 GW in fiscal years 2021 and 2022. Additionally, auctions of hybrid and storage-linked projects have surged, from 4 GW in fiscal years 2021 and 2022 to nearly 18 GW in fiscal years 2023 and 2024. Average tariffs have stabilized around ?3.2 per unit in fiscals 2023 and 2024 and are expected to continue in fiscal 2025, compared to ?2.8 per unit over fiscals 2020-2022. These tariffs are expected to be viable and remunerative to developers at the expected project costs over the medium term, added Varun Marwaha, Associate Director at Crisil Ratings. This projected expansion underscores India's commitment to enhancing its renewable energy infrastructure to meet growing energy demands sustainably.

Real Estate

07 Jul 2026

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Infrastructure Urban

07 Jul 2026

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..

Products

07 Jul 2026

EUROBOND Expands NABL Accreditation to 51 Testing Parameters

EUROBOND, the flagship brand of Euro Panel Products, has expanded the National Accreditation Board for Testing and Calibration Laboratories (NABL) accreditation of its in-house laboratory from 16 to 51 mechanical and chemical testing parameters, making it the only Indian aluminium composite panel (ACP) manufacturer with accreditation covering such an extensive testing scope.The expanded accreditation enables the company to independently test coils, coatings, cores, aluminium composite panels (ACP) and metal composite panels (MCP) in accordance with international standards, including IS, ASTM, ..