Govt sets a new target of 227 GW of renewable capacity by 2022
MUMBAI: India can become a global wind energy exporter by 2022 if the government continues to back its commitment to achieve 40 per cent of total installed power capacity from non-fossil fuels by 2030.
“We believe with the right policy framework and ecosystem, India has the potential to develop wind export economy of more than 5 GW by 2022. India is poised to become the global manufacturing hub for wind energy,” Tulsi Tanti, Chairman and Managing Director, Suzlon Group, and Chairman, Indian Wind Turbine Manufacturers Association (IWTMA), said in a statement.
“India is best positioned to become the export hub owing to its cost competitiveness, mature wind energy value chain and technology-edge, although the country needs to create a level playing field for SMEs, specifically to take part in the wind energy programme,” he added.
Tanti welcomed the expanded government target for wind energy capacity growth to 80 GW by 2022. According to IWTMA, achievement of revised targets would require investments in the range of ₹3 lakh crore.
Offshore wind energy
The government has set a new target of 227 GW of renewable capacity by 2022 against the earlier target of 175 GW. The government has also set a target for offshore wind energy generation of 5 GW by 2025 and 30 GW by 2030.
In May, the government called for expression of interest for the first offshore wind auctions.
According to Tanti, the new competitive bidding regime has provided for a clear visibility of tendering volumes for next five years with exponential volume growth of around 12-15 GW per annum expected in the coming years. This, he added, creates economies of scale and thereby offsets the concerns of low tariffs.