Investments in wind repowering could total INR 400 billion: CRISIL

13 Jan 2023 CW Team

According to research firm CRISIL, the Ministry of New and Renewable Energy’s draught policy for repowering old wind power plants has the potential to spark investments worth INR 400 billion over the course of three to five years, which is nearly three times the average annual wind power capex seen in the previous four fiscals. Ankit Hakhu, Director, CRISIL Ratings, stated that, “this may result in the replacement of around 5 GW of obsolete windmills with new wind power facilities having two times more generation capabilities. Because such projects may yield double-digit returns at prices of around INR 4 per unit for the additional capacity, their feasibility appears to be strong.”

Since their typical power purchase cost is currently INR 4-5 per unit, a pricing like this might draw C&I clients through open access, according to Hakhu. As per the official press announcement, up until March 2018 the total installed wind capacity increased by almost three times, from roughly 13 GW in 2010 to 34 GW. However, the majority of these used windmills with hub heights under 100 metres and narrower turbines with capacities around 1.5 MW. Compared to more recent technologies, they produce less per unit of capital expenditure.

New windmills can operate at hub heights over 150 metres, and they can use turbines with a capacity of more than 3 MW to produce more power per unit of machine capital expenditure. This can make use of locations with significant generating potential but now only have older generation turbines.

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