According to the last fiscal, which was 1,700 Mw, the capacity of wind energy of India has planned an extra addition. The addition is targeted to attain 3,000 Mw which is going to take place in the (2018-19) ongoing financial year. The Vice-President of rating agency ICRA, Girishkumar Kadam disclosed that the project will award the people with an additional capacity of 2.5 to 3 GW in the FY2019 which is quite higher than that of the FY2018. The funding cost is also slightly increased because of the increase in the bid tariffs, the price of wind turbine equipment and the evacuation cost.
Moreover, he also added that the nodal agencies have targeted to attain the 10 Gw awards in the wind energy in the upcoming financial years 2020 and 2019. They are ready to face the challenge of installing the secured connections for inter-state open access transmission network. According to nodal agencies, NTPC Ltd. and SECI, the sector of wind energy will reach the 10 Gw within February 2017 to September 2018.
This will improve the capacity of the wind energy visibly in the 2019-20 and 2018-19. In the recent auction of the wind power, the bid tariffs increased up to Rs. 2.77/unit directly from Rs. 2.43 in August 2018. The bid tariffs of wind energy are comparatively higher than that of the other conventional sources of energy. Therefore, it requires a high capital cost, the high potentiality of generating the power and the long-tenure debt. According to the PLFs (Plant Load Factor), the generative power of the wind energy has improved a lot in this current fiscal.