India’s wind market set to bounce back with nearly 50 percent growth

A new report by GWEC and MEC Intelligence (MEC+) finds that India is expected to install nearly 20.2 GW of wind power capacity between 2021-2025, a growth of nearly 50 percent compared to the 39.2 GW currently installed in the country.

A new report, India Wind Energy Market Outlook 2025, jointly released by the Global Wind Energy Council (GWEC) and MEC Intelligence (MEC+) finds that India, the world’s fourth-largest wind power market, is expected to add nearly 20.2 GW of new wind power capacity between 2021-2025. This would increase the country’s 39.2 GW wind market by nearly 50 percent and is a clear signal that the market is beginning to bounce back after a slow-down in recent years.

Although 2020 was originally forecasted to be a break-out year for wind power in India with a large pipeline and multiple policy interventions to ease bottlenecks, the impact of the COVID-19 pandemic was much more severe than anticipated. Forecasts expected the country to install 3.3 GW of wind power in 2020, but ultimately only 1.1 GW was installed, with the remaining capacity either being pushed into 2021 or dropped by developers.

However, the report finds that the pace of new installations is likely to double over the next two to three years compared to the average annual installations since 2017 when the market began to slow down.

India currently has a pipeline of projects of 10.3 GW in both central and state tenders, which are expected to drive installations until 2023. The market post-2023 will likely be driven by nearly 10 GW of new capacity awarded to wind projects, mainly through hybrid projects which are becoming increasingly important for the country’s ‘round-the-clock’ power initiative.

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