By Business India Editorial

The Indian wind energy sector is expecting an investment flow of over Rs80,000 crore (approximately $10.50 billion) over the next few years in the Indian wind energy sector, according to a top official.

The industry is hopeful of attracting Rs10,000-15,000 crore investment in upgrading equipment manufacturing capacity alone which will have the catalysing effect of attracting additional Rs70,000-80,000 crore investment in complimentary activities such as transmission, storage and services.

“The overall investment in this sector could be easily over Rs80,000 crore in the next few years,” said Tulsi Tanti, Chairman of Indian Wind Turbine Manufacturers Association (IWTMA), during a three-day mega clean energy event – Windergy 2022 – held at Pragati Maidan, New Delhi, from April 27-29.

Various wind energy companies operating in India have invested close to Rs25,000 crore in wind energy equipment manufacturing capacity but there are still many companies who are getting equipment from outside.

Tanti pointed out that as the country heads for a new clean energy regime, now it makes tremendous sense for such companies to set up manufacturing bases here. “We are confident that additional Rs10,000-15,000 crore will be invested in equipment manufacturing in coming years,” he added.

Tanti stated that an additional Rs10,000 crore investment in equipment manufacturing will easily catalyse and attract close to Rs70,000 crore investment in wind generation and related projects.

Tanti said that India is now the hottest market for clean energy projects and was hopeful that more and more companies will head to India and invest in various clean energy projects ranging from equipment, generation, transmission and services.

“There is a fabulous market here and investors have a great opportunity to leverage talent and other things for exports too,” added Tanti.

The three-day event was organised by the Indian Wind Turbine Manufacturers Association (IWTMA) in association with PDA Trade fairs Pvt. Ltd. The primary objective of the event was to attract manufacturing companies into the country and showcase the opportunities for investment in India.

Indian wind energy sector is one of the most evolved ones globally. The sector has seen investment of over Rs25,000 crore in equipment manufacturing capacity alone. The Indian wind energy equipment sector has an annual manufacturing capacity of 15GW with 70-80 per cent localisation level. Besides the presence of big corporations, the ecosystem is supported by over 4,000 MSME industries and is a job creator for educated rural youth.