India Can Become a Global Supply Chain Powerhouse by Accelerating Its Domestic Wind Energy Market, Report

India could become a key player in the global wind energy supply chain, according to a report from the Global Wind Energy Council (GWEC) and MEC Intelligence (MEC+).

The report titled ‘From local wind power to global export hub: ‘India Wind Energy Market Outlook 2023-2027’ emphasises the huge supply chain opportunities for India in the export market, and looks at the domestic challenges of ramping up deployment of wind energy in this decade to meet ambitious targets.

The report forecasts that around 22 GW of wind energy capacity will be added in India over the next five years, at the current pace of growth. However, under an accelerated growth scenario with heightened demand from central and state markets, as well as commercial and industrial consumers of clean energy, more than 26 GW could be added within this period.

The Government of India is targeting 140 GW of cumulative installed wind energy capacity by 2030, though various factors make it more likely that around 100 GW of capacity will be achieved by the end of the decade.

The projected shortfall can still be avoided, but this will require proactive policy and industrial strategy support to help accelerate growth.

“India has an enormous strategic opportunity to leverage an invigorated domestic market and its existing wind manufacturing base and knowledge to become a key player in the global wind supply chain,” said Ben Backwell, CEO of GWEC.

“India has an enormous strategic opportunity to leverage an invigorated domestic market and its existing wind manufacturing base and knowledge to become a key player in the global wind supply chain. This would establish the country as a renewable industrial hub in Asia and beyond, advancing climate action across the globe,” Backwell added.

GWEC’s report says India’s leadership as part of its G20 Presidency and at the forthcoming COP28 in Dubai gives the country a crucial role in determining global action to expand renewable energy towards a net zero energy system.