Wind power capacity in India to grow 2000-2500 MW during 2016-17
Wind power capacity addition in India wind is expected to grow between 2000 MW and 2500 MW during FY16 – FY17 as against 2312MW of capacity addition during FY15, says a new report from CARE Ratings.
Factors that favor the growth of wind power in India include incentives from government in the form of Generation based incentives and accelerated depreciation, relatively cost competitive mode of power generation, low gestation period for setting up of the project and introduction of floor/cap pricing mechanism for trading of Renewable Energy Certificates.
India has about 80 GW of untapped wind power as on March 31, 2015, the report said.
India has around wind potential of around 102.77 GW out of which the total installed capacity as on March 31, 2015 was 23.44 GW. India’s wind energy installed capacity was majorly spread across 8 states Rajasthan, Gujarat , Madhya Pradesh, Maharashtra, Andhra Pradesh, Karnataka, Tamil Nadu and Kerala.