Source: The post is based on the article “Wind project addition to peak by 2024, says report” published in The Hindu on 25th August 2022.
What is the News?
Global Wind Energy Council(GWEC) and MEC Intelligence have launched a report titled “Renewing wind growth to power the energy transition: India Wind Energy Market Outlook 2026”.
What are the key findings of the report?
Wind Energy Installed: India has committed to sourcing half its electricity in 2030 from non-fossil fuel sources and installing 60 gigawatts (GW, or 1000 MW) of wind power by 2022.
– So far, only 40 GW of wind power capacity has been established.
– Reason: Wind industry installations have been slowing down in India since 2017. Only 1.45 GW of wind projects were installed in 2021 with many delayed due to the second wave of COVID-19 and supply chain-related disruptions.
Future Projections: Annual installation of new wind power projects in India will peak by 2024 and likely decline thereafter.
– After 2024, fresh projects are likely to be wind-solar hybrid projects (where both systems are installed on a piece of land to generate power throughout the day)