India will be a right bet for investors who are looking at the Indian wind energy sector as large capacity additions will come up in the sector as part of the 500 GW renewable capacity target by 2030.
“I appeal to the wind energy investors, who are looking at India as a destination., you will be in good hands. Very soon, offshore wind energy capacity will also take off and will also create a very efficient ecosystem. It will primarily accelerate beyond 2030,” Dinesh Jagdale, Joint Secretary, Union Ministry of New and Renewable Energy said while addressing a session at the “Windergy India 2023 conference here.
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“As the country will be looking to bring more firm renewable power to the grid in the coming decade, wind energy has a vital role to play. Wind as a technology – be it onshore or offshore would play a very critical role in India’s energy transition goals,” he said.
Stating that the wind energy sector saw a declining trend in the last 4-5 years, he said it was a temporary trend as things have started to improve since the last fiscal. “Let us forget those years and get all the energies back into the system. With the bids coming for new capacity, the available annual turbine manufacturing capacity of 15-16 MW could be utilised. Let the industry be competitive and produce good quality products,” he said.
DV Giri, Secretary General, IWTMA (Indian Wind Turbine Manufacturers Association), requested a PLI scheme for the component manufacturers in the wind energy sector. There are over 4,000 component manufacturers and a lot of them are from the small-scale sector. “This is the time to encourage SMEs in the wind energy sector,” he added.