Indian Wind Turbine Makers Post Impressive Growth In FY2015-16

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Indian wind turbine manufacturers just recorded one of the best, if not the best, year in terms of capacity addition.

India saw more than 3.4 GW of wind energy capacity added in the financial year 2015-16. This was not only 48% higher than last year’s capacity addition, but also 42% higher than the target set at the start of the year.

While Gamesa topped the capacity added among all turbine manufacturers with a 29% share, Indian companies, too, posted impressive growth.

Suzlon Energy reported that it managed to install 900 MW of capacity, registering a 100% increase over the previous year. Once the leading integrated wind energy company in India, Suzlon Energy had slipped only a few quarters back. But following an investment from an influential industrial tycoon and improvement in the regulatory and economic environment, the company staged a remarkable comeback.

Inox Wind, another well known turbine maker, also posted impressive growth numbers. The company installed 792 MW of capacity in FY2015-16 compared to 272 MW in FY2014-15. Inox Wind, only the second wind energy company to have been listed on Indian bourses, is a clear example of how promoters managed to cash in on the opportunity created by the favorable regulatory developments.

As mentioned in recent articles, sector analysts are apprehensive about the sustainability of the rapid growth. Crucial financial incentives are set to be reduced or withdrawn at the end of current financial year.

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An avid follower of latest developments in the Indian renewable energy sector.

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