A new report, India Wind Outlook Towards 2022: Looking beyond headwinds, published by the Global Wind Energy Council (GWEC) and MEC+ (MEC Intelligence), objectively analyses the factors which have led to a drag on market growth for India’s wind energy industry over the past 2 years, and provides an assessment on the forecast along with a pathway to overcome these challenges to realise the high potential of the market.
India is the world’s fourth-largest onshore wind market by installations, with 37.5 GW of wind capacity as of 2019. However, project installation has decelerated in recent years with only 2.3 GW of capacity installed in 2019. The report finds that India’s total wind energy capacity could reach 50 GW by 2022 as existing pipeline and new auctions face multiple challenges.
Efforts by the government to lower barriers around market design, grid infrastructure and land allocation must be intensified, in order to revive auction appetite and resolve the execution challenges facing India’s wind market and reach the country’s ambitious 175 GW renewable energy target by 2022, of which 60 GW is due to come from wind energy.