Surging manufacturing capacity positions the nation as a premier export hub for global wind energy components.
India plans to add 8 GW of wind capacity this fiscal year while expanding its robust export market.
India is rapidly transforming into a global wind energy powerhouse. The country expects to deploy up to 8 GW of new wind capacity this fiscal year. This significant growth presents massive investment opportunities for the renewable sector. Consequently, domestic manufacturing is scaling up to meet global demand.
Developing these projects demands substantial capital. A single megawatt of wind energy requires roughly ₹7 crore. Therefore, adding 7 GW annually requires an enormous investment of ₹49,000 crore. However, the sector is thriving despite limited government fiscal support. Private enterprises are aggressively driving this ambitious green expansion.
India currently boasts 24 GW of wind equipment manufacturing capacity. This figure far exceeds current domestic deployment requirements. Subsequently, manufacturers possess a strong incentive to boost their global exports. Indian firms already export massive volumes of wind components worldwide. Furthermore, exports of this equipment reached an impressive ₹12,000 crore last year.
The Ministry of New & Renewable Energy confirmed this tremendous export potential. An official noted that the domestic ecosystem can easily support further growth. Additionally, India seeks deeper collaboration with European energy companies. Europe currently holds significant expertise in offshore wind technology. India hopes to leverage this extensive technical experience.
Conversely, Indian companies provide rapid deployment speed and skilled manpower. This unique synergy could make offshore wind highly viable in India. The nation plans to develop its first major offshore projects soon. India features over 7,000 kilometres of coastline with favourable wind conditions. Wind speeds off the Tamil Nadu coast exceed 10 metres per second.
Such optimal conditions yield a capacity utilisation factor of nearly 55 per cent. Consequently, this high efficiency lowers electricity costs for domestic consumers. The Indian government aims to achieve 100 GW of total wind capacity by 2030. Therefore, officials remain committed to accelerating deployment and expanding the export ecosystem.
(Source: ET Energy World)
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