Indian Wind Energy Sector Expects INR 80,000 Crore Flow in the Next Few Years

Tulsi Tanti, Chairman, IWTMA and His Excellency Freddy Svane, Danish Ambassador to India, along with other dignitaries

New Delhi, India – Indian wind energy has envisioned an investment flow of over INR 80,000 crore (approx US$ 10.50 billion) over the next few years in the Indian wind energy sector, as part of Prime Minister Narendra Modi’s pioneering clean energy initiative, which aims to make India the frontline nation globally in clean energy generation. The industry anticipates attracting INR 10,000-15,000 crore in investment in upgrading equipment manufacturing capacity alone, which will serve as a catalyst for an additional INR 70,000-80,000 crore in investment in complementary activities such as transmission, storage, and services.

“The overall investment in this sector could be easily over INR 80,000 crore in coming few years,” said Tulsi Tanti, Chairman, Indian Wind Turbine Manufacturers Association (IWTMA), at Windergy 2022, a three-day mega clean energy event held at Pragati Maidan in New Delhi from April 27-29.

Tulsi Tanti, Chairman, Indian Wind Turbine Manufacturers Association (IWTMA)

Various wind energy companies operating in India have invested nearly INR 25,000 crore in wind energy equipment manufacturing capacity, but many companies still obtain equipment from outside. Stating that as the country moves toward a new clean energy regime, it now makes a lot of sense for such companies to establish manufacturing bases here, Tanti commented, “Thus, we are confident that additional INR 10,000-15,000 crore will be invested in equipment manufacturing in coming years.”

According to Tanti, an additional INR 10,000 crore investment in equipment manufacturing will easily catalyze and attract nearly INR 70,000 crore investment in wind generation and related projects. “So, overall, we are looking at over INR 80,000 crore investment in the wind energy sector in coming years.”

Asserting that India is now the hottest market for clean energy projects and expressing hope that more companies will flock to India to invest in a variety of clean energy projects ranging from equipment, generation, transmission, and services, he further added, “There is a fabulous market here and investors have a great opportunity to leverage talent and other things for exports too.”

IWTMA organized the three-day mega event in collaboration with PDA Trade Fairs Pvt Ltd. The primary goal of the event was to attract manufacturing companies to the country and to highlight investment opportunities in India.

It should be noted that the Indian wind energy sector is one of the most advanced in the world. Over INR 25,000 crore has been invested in the sector’s equipment manufacturing capacity alone. The Indian wind energy equipment sector has an annual manufacturing capacity of 15GW and a localization level of 70-80 percent. In addition to the presence of large corporations, the eco-system is supported by over 4,000 MSME industries and creates jobs for educated rural youth.

Image Source: PDA Trade fairs Pvt Ltd