India has robust wind energy ecosystem and manufacturing base of 10,000 MW per year
The cumulative installed wind power capacity in India is expected to reach 52.48 GW by FY2027, expanding at a CAGR of 5.84% during the FY2023-27 forecast period, according to a ResearchAndMarkets report.
It was 40.36 GW in FY 2022, said the report “Wind Power Market in India 2022-2027” released on 27 Jan 2023.
The Government initiatives are driving the wind energy growth which has resulted in a robust ecosystem, enhanced project operation capabilities and a manufacturing base of approximately 10,000 MW per year, said the report.
The Ministry of Power has extended the waiver on charges of the Inter-State Transmission System (ISTS) on the electricity transmission generated by solar and wind sources for projects scheduled to be completed by 30 June 2025.
Furthermore, the order encourages the development of solar, wind, hydro-pumped storage plants (PSPs), and battery energy storage systems (BESS), along with the trading of renewable energy (RE) in power exchanges and the seamless transmission of RE power across states, said the report.
All energy consumptions related to aviation, transportation, commercial activities and industry have decreased dramatically due to the severe lockdown measures during Covid pandemic 2020-21 while residential activities had significantly increased.
As most business activities came to a standstill, there was a remarkable drop in power demand (up to 30%) that led to a 25% fall in exchange prices during the peak of the pandemic.
The demand from commercial and industrial (C&I) consumers had declined by about 18% during the pandemic period, it said.
The report covered Adani Power Limited, Indowind Energy Limited, Orient Green Power Limited, ReNew Energy Global Plc, Suzlon Energy Limited, The Tata Power Company Limited, Torrent Power Limited, Chiranjjeevi Wind Energy Limited, Sembcorp Energy India Limited and Wind World (India) Limited. fiinews.com
