The Indian Wind Turbine Manufacturers Association (IWTMA) has said that India is on its way to achieve the target of 60 gigawatt (GW) of installed wind energy capacity before 2022 deadline, as it has already crossed 34 GW mark.
IWTMA Chairman Tulsi Tanti has stated that in FY18, the country’s wind industry saw a transition from the Feed-in-Tariff (FiT) to the competitive bidding regime, and hence there was a transitory drop in volumes. He also said that the industry is now on high-growth trajectory with a healthy order pipeline. Besides, he noted that there was a clear business visibility of 10-12 GW even before the start of this financial year with announcement and plan of bids by the New and Renewable Energy (MNRE) Ministry. He added that the wind industry is confident of the government's continuous support.
Tanti further said that they are seeing large scale projects of 200 to 300 MW capacity, which brings in advantages of scale at project level, leading to cost optimization there by benefitting working capital of companies. He noted that India looks to achieve the target of 175 GW of installed renewable energy capacities by 2022.