Volume wise growth in the installed capacity is expected to be more than 13% in the coming five years in India: Bonafide Research
May, 01

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Volume wise growth in the installed capacity is expected to be more than 13% in the coming five years in India: Bonafide Research


Gradually improving power infrastructure, Availability of land, private investors, wind velocity, depleting resources, more captive use of electricity and good infrastructure is expected to drive the wind power market in the coming five years. According to recently published report of Bonafide Research "India Wind Power Market Overview", non renewable energy constitutes to close to 88% of the Indian energy in 2014. Power or electricity is one of the most critical components of infrastructure affecting economic growth and welfare of India. The existence and development of adequate infrastructure is important for sustained growth of the Indian economy. Renewable energy in India comes under the purview of the Ministry of New and Renewable Energy. India was the first country in the world to set up a ministry of non-conventional energy resources, in early 1980s. India has a long coastline of over 7500 kilometers. In April 2012, the Ministry for New and Renewable Energy constituted an Offshore Wind Energy Steering Committee under the chairmanship of the Secretary, MNRE, to drive offshore wind power development in India in an organized manner. In its 12th Five Year Plan (2012-2017), the Indian Government has set a target of adding 18.5 GW of renewable energy sources to the generation mix out of which 11 GW is the Wind estimation and rest from renewable sources like Solar 4 GW and others 3.5 GW. Amongst the states with good wind potential Tamil Nadu leads with a repowering potential of more than 800 MW followed by Gujarat, Maharashtra, Andhra Pradesh and Karnataka. A special drive for repowering of old wind farms undertaken by the central government would encourage the industry to take this up on a larger scale. Andhra Pradesh government has decided to employ a comprehensive action plan to make the state a renewable energy hub in the next four years. Andhra Pradesh is also increasing in terms of installation in the wind power market. Though states like Tamil Nadu and Maharashtra have shown saturation in the wind power generation, Gujarat and Rajasthan are the most preferred states for the entrepreneurs in the wind energy sector. Thus the volumetric growth of the installed capacity is expected to grow at the CAGR of more than 13% in the coming years.