India Can Become An 8-10 GW Annual Market In Wind Energy: Devansh Jain, INOXGFL Group
Jain, Executive Director, INOXGFL Group on the company’s current and future initiatives in a conversation with BW Businessworld. Excerpts
On your ambitions to help India transition to sustainable and greener alternatives
With a projected capex of Rs 20,000 crore across businesses over the next 4-5 years, INOXGFL Group is leveraging its existing expertise to become among the deepest integrated green conglomerates in India. Our goal is to take a leading role and contribute towards India's transition to greener energy alternatives.
On the importance of Wind Energy business for the group
The wind industry in India stands at a very sweet spot today, with strong tailwinds driven by a favourable macro environment. With government plans to bid for 10GW of wind energy projects annually until FY28 and an increased focus on addition of hybrid/RE RTC projects by commercial and industrial (C&I) players, India can become an 8-10 GW annual market in the medium term.
On the growth path for Inox Wind (IWL)
IWL has scaled up supplies of its state-of-the-art 3-MW platform, which can reach up to 3.3 MW with boosters. This turbine has been designed for Indian conditions and offers one of the lowest LCoE (levelised cost of electricity) for any turbine in its class. Further, we are working towards launching a 4.X MW platform next year, which will secure us on the technological front for the next decade.
On motivation for the group’s venture in INOXGFL Renewables
The plan to set up a renewable IPP platform within the umbrella of the INOXGFL Group has been in the works for some time. There is a lucrative opportunity from the third party Commercial and Industrial (C&I) power market. The company currently has an operational RE capacity of >100MW and is targeting to reach an installed RE capacity of 1.5 GW in the next 4-5 years, leveraging the wind and solar sector expertise within the INOXGFL group.
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