’Need incentive scheme for wind energy components to boost capacity’

New Delhi: With India's ambitious plans to become a manufacturing hub for renewable energy components, industry stakeholders have suggested that a production linked incentive scheme for components and sub-components makers in the wind energy would boost the sector.

Speaking at a press briefing here, Amit Kansal, CEO and MD of Senvion India, said that if PLI scheme is implemented for components and sub components manufacturers, it will ensure scaling up of the manufacturing capacities installed.

“The government of India’s scheme will also help in job creation and will give a boost to initiatives like 'Atmanirbhar Bharat' and 'Make In India',” Kansal added.

He was speaking at the curtain raiser event for 'Windergy India 2023' which will be held during 4-6 October at Chennai.

As of 30 June 2023, the installed wind power capacity in India exceeded 43,773 MW, making it the fourth largest in the world.

The wind energy sector has not only contributed to India’s renewable energy targets but also has various socio-economic benefits.

Further, the government has also set ambitious targets to increase the share of renewable energy, including wind power, in the country’s overall energy mix. By 2030, Centre aims to take the installed renewable energy capacity to 500 GW.

It has also announced to come up with viability gap funding-based bids for offshore wind energy.

India’s wind energy equipment sector currently has a manufacturing capacity of 42 GW, which is expected to get an addition of 5 GW in the current financial year.

Moreover, the government trajectory is set to remain at 10 GW per annum up to 2028.