September 26, 2022

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Wind power will help India add 23.7 GW of clean capacity by 2026

The Global Wind Energy Council (GWEC) Y MEC Intelligence (MEC+) Published todayRenewing Wind Development to Drive Energy Transition: Indian Wind Energy Market Outlook 2026“. This is the third annual edition analyzing opportunities for wind energy India Highlighting the critical link of wind energy to India’s green energy transition.

The overview suggests that the country A further 23.7 GW of capacity can be added within the next five years if the necessary policies, facilities and appropriate institutional interventions are in place.

Ben BakewellCEO of GWEC, said: “To capitalize on this tremendous opportunity, India needs to focus on three areas: dialogue between central and state governments to build consensus; help meet delivery deadlines and targets; and India’s potential as a destination for global wind power producers and suppliers.”

The first clean source

With 37.7% of the total installed capacity as of March 2022, wind power forms the majority of the renewable energy mix in India. However, the overall estimated potential falls short of the current installed capacity. There is more than 600 GW of capacity at 120 m, and 174 GW of floating and fixed-subsea wind potential. These figures demonstrate that there is enormous untapped wind energy potential, which will be critical to advancing the country’s clean energy transition.

A second wave of Covid-19 in India, coupled with global supply chain challenges, has caused disruptions, the outlook finds, with the market in India suffering from the pandemic. However, the Ministry of New and Renewable Energy (MNRE) took several measurements during this time. For example, the ministry granted a blanket schedule extension, pushing 0.7 GW of delayed projects to 2022.

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Important role of wind energy

Between 2021 and the launch of this edition, 2.7 GW of wind/solar hybrid (WSH) tenders and 3.5 GW of autonomous wind projects were awarded by SECI. Unlike previous years, both stand-alone and hybrid projects were oversubscribed, with wind power increasingly playing an important role in decarbonisation and building resilience in the grid system.

Siddhartha Jain, MEC+ said: “India’s track record indicates that the market for wind installations is a disorderly one. Significant momentum has been built into the portfolio since 2017-2018, but long delays in project implementation have challenged developers’ assumptions. Despite these hurdles, the share of wind power has strengthened to complement solar in 2021. Wind solar hybrid scheme PPAs have grown within corporate procurement and discom contracts to meet peak power needs. Exports of large turbines and the entry of new suppliers into the local supply market have strengthened India’s position as a global hub for the supply of wind equipment. Based on these trends, we believe that demand for wind power will revive by 2026 in the country.

Recommendations

There is a huge untapped opportunity in the Indian market, insights into how the country can unlock the full potential of wind resources with five detailed recommendations:

  • Strengthening consensus and coordination between Central and State Governments.
  • Promote technology sharing and alignment along the global wind supply chain
  • Reuse opportunities that provide India with an efficient pathway to increase the productivity and socio-economic benefits of sites already designated for onshore wind power generation.
  • Address legacy challenges that have hampered wind energy development
  • Finalize and implement offshore wind energy development roadmaps
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Martha Shardul, Policy Director, GWEC India highlighted the increasing role of autonomous and hybrid wind projects in supporting the decarbonisation needs of the energy sector, as well as the availability and adequacy of reliable green energy supply. He said: “Policy amendments should be evaluated over a period of time to identify any room for improvement and accelerate progress while ensuring a prosperous business environment.”

Recent political interventions by the central and state governments have given the market hope, but it is clear that action is needed to revive the market and achieve the ambitious targets that this report can achieve for India.