25 Nov 2024
Wind turbine manufacturer Senvion India plans to expand its share of India's installed wind power capacity to 10% over the next three years, up from the current 2.1%. Senvion currently holds 1 GW of India's total installed wind power capacity of 47 GW, with plans to add an additional 1 GW by the end of the next financial year.
India is expected to install 4-5 GW of wind power this fiscal year, with Senvion contributing 600-700 MW, accounting for 15% of the annual growth. While the country aims to reach 110 GW of wind power capacity by 2030 as part of its 509 GW renewable energy target, current installation rates are inadequate. Only 2.8 GW of wind capacity was added in 2023, far below the required annual addition of 9.3 GW between 2024 and 2030, as per the reports.
According to an advisory and consulting firm, the company holds 3% of the total wind order book; however, the company's CEO, Kansal, asserts that the actual share is higher. Out of the 19.2 GW order pipeline, Envision holds the largest share at 41%, followed by Suzlon with 20% and Inox Wind at 17%. Kansal highlighted that Senvion only considers firm orders supported by financial guarantees, not conditional agreements.
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