New Delhi: The Indian wind industry is on course to achieve the government's 60 GW capacity target ahead of the 2022 deadline as it has already crossed 34 GW mark, the Indian Wind Turbine Manufacturers Association (IWTMA) said today.
"At the current rate, the wind industry is on course to add 30GW of new capacity in next three years, thereby taking the cumulative total capacity to 60 GW by FY'21," IWTMA Chairman Tulsi Tanti said.
Tanti said that the wind industry witnessed a transition from the Feed-in-Tariff (FiT) to the competitive bidding regime in FY2017-18 which resulted in a temporary drop in volume.
The industry is now on a growth trajectory with a healthy order pipeline," Tanti said.
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. The industry is confident of the government's continuous support, the association said.
"We 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."
India looks to achieve the target of 175 GW of installed renewable energy capacities by 2022.
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