New Delhi, 24 February (IANS). India’s wind power capacity is estimated to increase more than doubled over the next two financial years, which will be an average of 7.1 GW (GW) on an average compared to 3.4 GW in FY 2023-25. A report on Monday said that government measures will be helpful for this. The report said that this will make the country’s total installed wind power capacity of about 63 gwat by 2026-27.
According to a Crisil report, the capacity increase in FY 2023-24 and 2024-25 remained slow in the limit of 6-7 gW, as 5.9 GW in FY 2021-23 and 5.2 GW in FY 2023-25 and 5.2 GW in FY 2023-25 The auction of wind power capabilities was less successful with.
The report said that this was due to low tariffs due to low interest of developers, which reduced the returns for developers. Also, there were problems in the availability of land and transmission infrastructure at high wind capacity sites.
But, favorable conditions are emerging, which will help double the speed of capacity growth in the next two finance years.
According to Crisil’s report, the government’s efforts for auction of hybrid renewable projects and a favorable cost arrangement for wind projects are expected to promote capacity increase.
In addition to the steady auction speed of standalone wind projects, auction of hybrid renewable energy projects has accelerated.
About 30–50 percent of such hybrid projects are expected to be from wind energy, as they generate power during peak load time contrary to solar energy, which mostly generates day time.
In addition, the report states that these hybrid projects help the distribution companies (discoms) solve the problem of schedules at significant time, so they are expected to be liked in off tech and grow rapidly.
According to Ankit Hakhu, director of Crisil Ratings, more than 30 GW of hybrid projects in the country are in the pipeline, which are expected to be operational within the next 2-4 years and will contribute to the expected increase in wind energy capacity.
He said, “PPAs of more than 60 percent of such projects auctioned by March 2024 will be signed by January 2025,” he said.
-IANS
SKT/CBT
