According to reports, helped by strong policy framework and better cost competitiveness compared to conventional power generation, India is expected to see wind energy installation of about 3,000 MW this year, says a report.
The anticipated capacity addition would be 39% higher than that of 2,142 MW witnessed last year, according to a HSBC Global Research.
Further, the country is projected to have wind capacity addition of nearly 7,500 MW between 2011-15 period.
“The key drivers for growth are primarily a strong policy framework and improving cost competitiveness of wind technology compared to conventional generation,” the report said.
Going by projections, this year alone would see a capacity addition of 2,984 MW.
The country had a wind energy capacity of nearly 15,000 MW at the end of August 2011, as per official data.
Historically, a significant proportion of installations in the Indian wind market have been by non-utilities/ non-developers.
However, the past two to three years have seen emergence of various renewable developers, with the Indian market growing from 1,600-1,800M MW to a 2,000 MW market, the report said.
In recent times, many entities are getting into renewable power generation segment, especially focusing on wind energy.
HSBC Global Research said that over 2011-15, about 7,500 MW of new wind capacity — average of 1,500 MW per annum — would be installed by “new breed of developers alone”.
“We, therefore, retain our wind installation forecasts for 2012-15, with 2,400 MW installations in 2012 and 2,700 MW in 2015,” it added.