India is planned to increase wind capacity with 54.7 GW by2022: source report

Apr 29 2019 02:27 PM
India is planned to increase wind capacity with 54.7 GW by2022: source report

New Delhi: Fitch Solutions Macro Research has said in a report India is likely to install 54.7 GW of wind capacity by 2022 against the 60-GW target set by the government. The country has set an ambitious target of installing 175 GW of renewable energy capacity by the year 2022, which includes 100 GW from solar, 60 GW from wind, 10 GW from bio-power and 5 GW from small hydro-power.

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Fitch Solutions Macro Research, unit of Fitch Group, said in its outlook for the country's renewable energy sector "We remain cautious on India meeting its ambitious 2022 targets for wind power capacity growth, as land acquisition issues and grid bottlenecks will lead to delays to project implementation in the sector... We forecast India to install 54.7 GW of wind capacity by 2022, compared to the 60 GW government target,".

Here it is to be noted that the agency also said it believes that concerns about the economic viability of low tariff projects from India's wind capacity auctions raise the risk that investor appetite will weaken and auctions will be postponed. The report said "The combination of several challenges in the country's wind power sector will hit near-term growth momentum, including land availability hurdles, grid access bottlenecks and concerns over the viability of low tender bids. This informs our view that India only will add on average 4.5 GW of wind capacity annually between 2019 and 2022, with the aforementioned risks highlighting further downside risk,".

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