As India chases an ambitious target of achieving 450 gigawatts (GW) of renewable energy (RE) capacity by 2030, the wind energy sector is also eyeing the opportunity to further develop its component manufacturing infrastructure to expand its export portfolio, Suzlon Group Chairman Tulsi Tanti said on Thursday.
To this end, Tanti said the Indian Wind Turbine Manufacturers Association (IWTMA) and PDA Trade fairs are organising the event, Windergy India 2022, in the national capital, which will help facilitate investments to the tune of ₹15,000 core into component manufacturing.
“It will help clear the way for investment flow of ₹10,000-15,000 crore into wind energy component manufacturing in the country,” Tanti, the Chairman of IWTMA, told reporters at a curtain-raiser presser for the event here.
Tanti, an early mover into the wind energy segment, said the event is to attract manufacturing companies into the country and showcase the opportunities to invest in India.
India has a wind turbine manufacturing capacity of 15 gigawatts (GW) per annum. This event will help create the production capacity of components. If they take a call to invest ₹10,000 crore into wind equipment manufacturing, it will translate into additional investment of ₹70,000 crore into wind energy generation projects.
The main objective of this event is to bring investment into wind energy equipment manufacturing to reduce imports and increase exports. Many manufacturers or start-up companies, or MSMEs, will get the opportunity to interact with OEMs (Original equipment manufacturers). Besides, the OEMs will get the opportunity to interact with financial or equity investors. Many foreign investors will also come who want to invest here, Tanti assured.
The three-day event will be held from April 27-29, 2022 and attendees can gain by meeting over 150 companies displaying their products, solutions and technology prowess at the show.
Tanti emphasised that Wind energy plays a crucial role with mature technology, high plant load factor (PLF) and localised content of up to 80-90 per cent.
“The low cost of turbines that India makes has huge export potential to make India a net foreign exchange earner. The manufacturing fraternity has already deployed over Rs 25,000 crores and has a manufacturing capacity of 15 GW per annum. Now re-powering old wind turbines can bring in fresh investment and higher generation. This also opens up fresh investment, fossil free power generation, encouragement of start-ups and generation of rural employment,” he added.
April 22, 2022