India’s Wind Energy Install Capacity Reaches 45 GW: Report
Experts warn that the current pace is not sufficient to limit global warming to 1.5 degrees Celsius, highlighting the need for continued efforts towards sustainability
“Economic stability and social cohesion cannot be achieved without environmental sustainability.” As India endeavours to become a developed nation by 2047, it is clear that environmental sustainability will play a crucial role in achieving this goal. The country's commitment to renewable energy is evident in its ambitious targets, including 500 Gigawatt (GW) of renewable energy capacity by 2030 and net zero emissions by 2070.
According to the Global Wind Report 2024, India has made significant efforts in the wind energy sector, with an installed capacity of 45 GW as of January 2024, ranking fourth globally. The country installed a record 2.8 GW of onshore wind capacity in 2023, the highest since 2017, and is expected to reach 73 GW by 2031-2032 and 122 GW by 2026-2027.
India's Nationally Determined Contributions (NDCs) aim to achieve 50 per cent cumulative installed electric power capacity from non-fossil fuel sources by 2030, a significant increase from the previous target of 40 per cent. To support this goal, the government has approved viability gap funding (VGF) for an initial 1 GW of offshore wind capacity, with an ISTS waiver up to 2032.
While India has made significant progress in the renewable energy sector, there are still key market barriers to overcome, including port and grid infrastructure readiness, vessel availability, supply chain strategies, offtake assurance, streamlined permitting, community partnerships, and a local skilled workforce.
On the manufacturing front, India is the second-largest hub for onshore wind turbine assembly and key component production in the Asia Pacific, positioning itself well for manufacturing expansion. Domestic manufacturing can meet India's onshore wind demand through 2030, with the potential for additional export and trade value.
Globally, the installation of renewables reached a record high in 2023, with 510 GW added worldwide. However, experts warn that the current pace is not sufficient to limit global warming to 1.5 degrees Celsius, highlighting the need for continued efforts towards sustainability.
India's commitment to renewable energy is a step in the right direction, and the country's progress in the wind energy sector is a testament to its potential for sustainable growth
