Envision Strengthens Leadership In India Wind Energy Market

By Prasanna Singh/ Updated On Mon, May 20th, 2024

Chinese Wind Turbine major Envision is the clear market leader in India, according to a report from MEC Intelligence. MEC Intelligence, (MEC+), is a specialist research and consulting firm for the marine, energy, and cleantech industries based out of India and Denmark.

In its quarterly report on the wind sector in India, MEC highlights that, notably, other than the Shanghai headquartered leader Envision itself, Indian firms have enjoyed a strong revival with Suzlon regaining its second position (20%), even as Inox Wind in third position (15%), and Adani (fourth)entering the fray with its 5.2 MW turbine. Otherwise, the market has decisively shifted to a 3 MW plus size now.

Courtesy: MEC Intelligence

-Envision leads with 41%share: Envision holds a commanding lead with 41% of the total market share, translating to 7.4 GW. Much can be attributed to cost-competitiveness as well as early launch of 3 MW class ahead of competition in the market
-Suzlon regains second position in the market: With ~3.6 GW, Suzlon secures the second position, accounting for ~20% of the market. The position has been reclaimed with its own 3 MW turbine offering as well as turn-around from financial turmoil.
-New player- Adani enters arena: Adani’s 5.2 MW turbine has been developed by the conglomerate to serve captive demand, even though the delivery started in Q3, FY 24. The orderbook rose significantly in Q4, FY 24.

INOX Wind Hopes To Power Growth With Its 3MW Wind Turbines

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For the Inder Bhambra led Envision India, the star of the show in India has clearly been its EN156/3.3, a 3.3 MW wind turbine generator with 156m RD. it has sold 7.4 GW of this WTG to 20 leading IPPs of the country since Oct 2021, according to a post from Bhambra.

While the decline of European players is noticeable, there is also a high chance of Inox Wind making further gains, as its own recent 3.3 MW turbine is making its presence felt with large recent orders. the European decline in India is best captured by the plans of Siemens to sell its wind energy unit in India due to financial troubles at the parent unit.