Power & Energy

Wind energy to generate 2 million jobs by the year 2022

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The wind energy sector of the country is all set to generate approximately 2 million jobs by 2022 as India is all set to almost double the manufacturing capacity in the next four years. The news has come from Tulsi Tanti, the chairman and managing director of Suzlon Group. He has been reported to state on the Global Wind Day the hike in manufacturing capability of the Wind energy sector.

Apparently, Suzlon owns 35 % share in India’s currently installed wind capacity. The company is worth Rs 8,200 crore and has until now supplied 8,503 turbines with a cumulative capacity of 11,919 megawatt in the Indian market. This Pune- based firm has delivered around 1,100 megawatt of equipment which includes the 231 megawatt of solar. The chairman has also said that in the present global scenario, almost 80 % of the wind energy production across the globe is taking place in India. The country’s energy production is about to increase by 850 megawatt said Tanti as he praised the country’s progress in the wind energy sector.

India currently has 70 Gigawatt of installed renewable energy generation capacity, including 22 Gigawatt of solar and 34 Gigawatt of wind capacity.

If Tanti is to be believed, the crucial drivers for the growth of the renewable energy sector in India include the stable financial cost, benefits of latest technology, economy of scale, long-term PPAs and high interest from international investors. The investors’ expectation on cost of funding for green energy projects has come down to 10-12 per cent from the earlier 16-18 per cent, he added. 

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