The Global Wind Energy Council (GWEC) will set up GWEC India to work with governments and stakeholders to restore momentum to wind power growth and to assist India in achieving its ambitious renewable energy targets.
The new industry association will focus on building India’s vast potential and local supply capacity, resolving regulatory bottlenecks, sharing best international practices and experience, and fostering dialog and collaboration between government and industry stakeholders.
India is the world’s fourth-largest onshore wind market with a combined capacity of almost 38 GW. The Government has set an ambitious target of 175 GW of installed renewable energy capacity by2022, which means that current wind capacity will almost double over the next two years, totaling 60 GW of offshore wind and 5 GW of offshore wind. GWEC reports that India risks outlining its 2022 wind energy goal if urgent concerns are not addressed.
According to GWEC’s Q3 2020 Market Outlook, the impacts of COVID-19 combined with market challenges in India are likely to reduce onshore wind installations by 6.1 GW over the next five years, compared to pre-COVID projections, by 29 percent.
Looking at offshore wind, India has tremendous potential, but the growth of the industry has so far been slow.
Despite these obstacles, the Government of India retains its ambitious goals and recognizes the role that wind power can play in the green economic recovery of COVID-19. In order to promote and maintain market growth, GWEC India will be a key partner for both government and industry to address current challenges and tap into the economic benefits of wind power.
“Wind energy kickstarted the renewable energy revolution in India, and today, with over 38 GW of installed capacity, India is the fourth largest wind power market in the world. The sector has also been a torch bearer of ‘Aatmanirbharta’, as most of the equipment for the wind energy sector is manufactured domestically. Wind power has helped India mitigate around 50.87 million tonnes of CO2 in the past two years and will be a big contributor to India meeting its decarbonisation goals under the Paris Agreement.
“The time is now ripe to accelerate growth and create a framework for government-industry partnership to tackle the challenges being faced by the sector. GWEC India will be an indispensable platform for policymakers and the industry to come together and turn these ambitions into reality, and I am thrilled to be part of this important initiative.”
Sumant Sinha, chairman and managing director of ReNew Power.
“With over 300 GW of onshore wind potential and a further 195 GW of offshore wind potential, we have only begun to scratch the surface of India’s wind power capability. GWEC has a proven track record working with stakeholders to address regulatory barriers and unlock growth potential in emerging markets across the world, and we are looking forward to doing the same with GWEC India.
“As the government looks to establish the country as a renewable energy manufacturing hub, it will be essential that we have long-term market visibility in order to bring in investors and encourage development of a local industry. This is more important than ever as the industry can be a critical driver of jobs and investment, while delivering low-cost power to energy-intensive industries, to power an economic recovery from COVID-19.”
Ben Backwell, CEO of GWEC.
Sumant Sinha has been named Chair of GWEC India, which will be assisted by the local office and the GWEC team. The association will leverage the experience of GWEC’s global network to build on international best practices, publish industry research and assist policy makers in shaping the sustainable wind sector.
Key challenges addressed by GWEC India will include grid and land availability, off-taker risks, onerous tendering conditions, low tariff caps and offshore wind development.
