MEC Intelligence Report On Wind Energy Orderbook In India

A new report from MEX Intelligence covers the Wind Turbine Generator (WTG) orders in India .

Market leader Envision leads with 41%. The company bagged 1.6 GW of new order books for its solar projects in the April to June quarter of 2024. So far, the total order book of Envision has reached 7.7 GW. The company has so far executed 1.2 GW worth of orders in India.

Suzlon again emerges as the second largest player in the Indian wind turbine market. Suzlon stands at 20% and its order book is around 3.9 GW. Suzlon booked 551 MW of fresh orders during Q2 2024 and executed 274 MW during the same quarter.

Additionally, Inox Wind has a 17% market share. The company secured new orders of 661 MW, and its order book totaled 3.2 GW. In the last quarter, Inox Wind completed 140 MW of orders.

Furthermore, the report states the declining penetration of European players in the Indian market. They have shifted their focus to other regions for profitability and reduced the footprint of companies in India’s wind energy domain.

Senvion and GE Vernova of course have won some recent orders that will no doubt add to their tally.

The Indian wind market, exclusively onshore, is set for some major changes in the coming years with an upgrade to larger WTGs of 5 MW and above by 2025-26, besides a wholesale shift to turbines over 2 MW that is ongoing. A clear repowering policy has hurt progress, but the case for it grows stronger with each year considering the shortage of good sites and the expiry or near -expiry of older PPAs signed in the late 1990’s.

A huge push for Hybrid projects at both ISTS connected utility scale and the open access market also means a strong wind market, reflected in completely booked order books for the top 3 players right upto mid 2025 and beyond.