India’s Wind Energy Capacity Projected to Hit 107 GW by 2030, Says GWEC

Key Takeaways

India’s wind energy capacity is projected to reach 107 GW by 2030, exceeding the government’s target of 100 GW.
About 30 GW of wind energy projects are in progress, with expectations to add 6-7 GW this year.
India aims for 500 GW of non-fossil fuel capacity by 2030, enhancing its position in the global wind energy market.

Projected Growth in Wind Energy Capacity

India’s wind energy sector is poised for significant growth, with a new report from the Global Wind Energy Council (GWEC) estimating that the nation’s wind capacity could reach 107 GW by 2030. This projection surpasses the government’s existing target of 100 GW. The report, titled “Wind at the Core: Driving India’s Green Ambitions and International Influence,” was released during an event attended by New & Renewable Energy Secretary Santosh Kumar Sarangi.

The GWEC highlights that India’s installed wind capacity can more than double from its current level of 51 GW by aligning with state-level Resource Adequacy Plans (RAP). This shift is crucial for establishing a cost-effective pathway for India’s energy transition. Furthermore, leading organizations, including NREL, IEA, WRI, and Lawrence Berkeley, recommend even higher capacity targets, suggesting potential growth to between 121 and 164 GW by 2030.

Addressing grid stability, enhancing Renewable Purchase Obligation (RPO) compliance, and aligning bidding processes with state demands are vital factors that could enable firms to achieve their full wind potential. According to Sarangi, approximately 30 GW of wind energy projects are underway and expected to come online in the next few years. The goal for this year is to add 6 to 7 GW of new capacity.

India has established itself as the third-largest hub for wind manufacturing, set to cover 10 percent of the global demand while potentially creating 154,000 jobs, assuming annual installations reach 15 GW. Last year, India exported 3 GW worth of wind energy equipment, amidst a booming global market that size is projected to grow to 135 GW this year. Industry insights indicate that the export market is predominantly dominated by China, which accounts for about 60 percent of it.

Commenting on potential setbacks from U.S. tariffs on renewable energy equipment, Sarangi noted that India’s solar and wind exports to the U.S. are currently minimal, suggesting that the impact on local industries will be insignificant. Union Minister of New & Renewable Energy, Pralhad Joshi reaffirmed the government’s commitment to achieving 500 GW of non-fossil-fuel-based capacity by 2030, with wind expected to account for nearly a quarter of this renewable energy mix.

Girish Tanti, Chairman of the Global Wind Energy Council India and IWTMA, mentioned that globally, renewables could supply nearly half of electricity demand by 2030, with wind energy contributing 20-25 percent. He believes India is on track to double its wind capacity by 2030 and reach up to 452 GW by 2050.

Ben Backwell, CEO of the Global Wind Energy Council, emphasized that scaling India’s wind capacity beyond 100 GW by 2030 can stimulate economic growth, expand manufacturing, and improve access to energy. Despite holding a total wind potential of 1,164 GW, India has so far only harnessed 4.5 percent of this capacity.

To meet demand and promote job growth, increasing annual wind installations to 8 GW could foster 116,000 new jobs and decrease costs by 10 percent, while raising domestic content to 80 percent. Adding 15 GW annually would escalate the job creation potential to 154,000 positions. India’s manufacturing capability in the sector is projected to grow from 12 GW in 2022 to 20 GW by 2024, positioning the nation to meet a significant portion of global wind energy demand.

The content above is a summary. For more details, see the source article.