Which Is The No 1 Wind Energy Company In India?
India has emerged as one of the leading countries in wind energy generation in recent years.1 The country ranks fourth globally in terms of installed wind power capacity, after China, the US, and Germany.2 Wind energy is an important part of India’s renewable energy strategy and the government has set ambitious targets for wind power deployment. Identifying the top wind energy companies in India provides insights into the major players driving growth in this sector and the innovative technologies, strategies and investments being utilized to harness the country’s vast wind energy potential.
Methodology for Ranking
The rankings of the top wind energy companies in India were determined by analyzing key metrics such as installed wind energy capacity, annual energy generation, market share, and annual revenue. The primary sources used were the Indian Wind Turbine Manufacturers Association (IWTMA) and industry reports from leading market research firms.
Installed wind energy capacity refers to the total rated power generation capacity (in Megawatts or MW) from all wind power projects commissioned by a company. This provides a measure of a company’s overall contribution to India’s wind energy ecosystem.
Annual energy generation by wind farms owned and operated by the company was analyzed to quantify actual electricity units delivered to the grid. Higher generation indicates greater utilization of installed capacity.
Market share was estimated based on the percentage contribution of each company to India’s total installed wind power capacity. This indicates the relative scale and impact of the company in the industry.
Annual revenue from wind energy operations provides a financial performance metric for comparing companies. Revenue depends on the electricity tariffs realized and the offtake model (captive use, third party sale, or utility sale).
By analyzing these parameters holistically, the top 5 wind energy companies in India were identified and ranked. Emphasis was placed on total installed capacity and market share as indicators of the company’s overall market leadership.
#1 – Suzlon Energy
Suzlon Energy Limited is India’s largest renewable energy company. Founded in 1995, Suzlon has over 25 years of operational experience and a cumulative installed capacity of over 19.4 GW across India and abroad as of 2023 (1). Suzlon pioneered the wind energy sector in India and was responsible for installing the country’s first commercial wind power project in 1998. Since then, Suzlon has maintained a leading position in India’s wind energy market.
As of 2023, Suzlon has an installed wind energy capacity of over 8.0 GW in India, giving it an approximate 40% market share (2). Some of Suzlon’s major wind power projects in India include the 1,500 MW project for CLP India, 350 MW for Orange Renewable, and 252 MW for Aditya Birla Renewables. The company has wind power projects installed across 9 states in India (3).
Going forward, Suzlon aims to maintain its market leadership in India by leveraging its end-to-end solutions and R&D capabilities. The company is looking to tap opportunities in emerging segments like offshore wind and hybrid energy projects. With its strong track record and project execution expertise, Suzlon is poised to play a leading role in India’s renewable energy growth story.
(2) BusinessToday
#2 – ReNew Power
ReNew Power is one of the top renewable energy companies in India and a leader in the wind and solar markets. As of 2021, ReNew had a total operational capacity of over 5 GW across wind, solar and hydro projects making it the largest renewable energy IPP in India (India’s Premier Renewable Energy Company, 2021).
ReNew Power has a market share of over 10% and is a dominant player in wind energy with 1.1 GW of wind capacity. The company has projects spread across 8 states in India with major wind farms located in Gujarat, Maharashtra and Rajasthan (India’s Premier Renewable Energy Company, 2021).
Some of ReNew’s major projects include a 300 MW solar project for Maharashtra State Electricity Distribution Company; a 250 MW wind project for Solar Energy Corporation of India (SECI); and a 300 MW round-the-clock renewable project with SECI. ReNew Power also operates a wind-solar hybrid project and is focused on next-generation renewable energy solutions (RENEW ENERGY GLOBAL PLC, 2021).
#3 – Inox Wind
Inox Wind is one of India’s leading wind energy solutions providers. The company manufactures wind turbine generators and provides turnkey solutions for wind farm projects. Inox Wind was founded in 2009 and is headquartered in Noida, Uttar Pradesh.
As of March 2022, Inox Wind had installed wind power capacity of over 3,400 MW across India, holding around 9% market share in India’s wind energy market 1. The company has manufacturing plants in Gujarat, Himachal Pradesh and Madhya Pradesh.
Some of Inox Wind’s major projects include a 50 MW wind power project for NLC India in Gujarat for which the company will supply and install its 2 MW wind turbine generators 2, 3.
#4 – Tata Power
Tata Power is a leading Indian electric utility company with a major presence in renewable energy, especially wind power. The company is part of the Tata Group, one of India’s largest multinational conglomerates. According to a January 2024 article in Business Today, Tata Power plans to invest Rs 55,000 crore in wind and solar power generation in Tamil Nadu over the next 5-7 years, highlighting its expansion plans in renewable energy (source).
In terms of current wind energy capacity, Tata Power has around 1,006 MW of operational wind power projects as of November 2023, as reported by The Economic Times. This makes up a significant portion of the company’s total renewable energy portfolio of over 4,200 MW (source). The company has wind energy projects across multiple states in India, including Tamil Nadu, Gujarat, Maharashtra and Karnataka.
While Tata Power is not the market leader in terms of wind energy capacity, it is considered one of the top wind power companies in India with ambitious growth plans. The company brings financial strength and project execution capabilities that allow it to be a competitive player in the wind energy sector going forward.
#5 – Adani Green Energy
Adani Green Energy Limited (AGEL) is one of the leading renewable energy companies in India with a focus on wind power development. The company has a total installed wind power capacity of 3.4 GW, making it one of the largest wind power developers in the country (Adani Green Begins Generation From The World’s Largest Renewable Energy Park).
Adani has a market share of about 8% in India’s wind power sector. The company is looking to increase its wind power capacity to 8 GW by 2025. Recently, AGEL started operations at a 5.2 MW wind turbine in Khavda, which is India’s largest onshore wind turbine (Adani Green starts generating at world’s largest planned renewables park).
Adani has wind power projects spread across several states in India including Gujarat, Rajasthan, Maharashtra, Karnataka, Andhra Pradesh and Tamil Nadu. Some of the major wind farms developed by Adani include Mundra Wind Park in Gujarat, Dhanushkodi Wind Park in Tamil Nadu and Kutch Wind Park in Gujarat.
Going forward, Adani plans to continue expanding its wind energy portfolio to help meet India’s ambitious renewable energy targets of 450 GW by 2030. The company aims to establish an industry-leading wind power business and become one of the top wind energy producers globally.
Challenges
India’s wind energy sector faces several key challenges that have hindered growth and adoption.
One major challenge is the lack of consistent wind patterns across India. Wind speeds can vary greatly by region and season, making it difficult to ensure steady power generation. This intermittency poses difficulties for grid integration and reliability (Billion Bricks, 2023).
Another significant obstacle is acquiring suitable land for wind farms. Wind turbines require large open tracts of land, which can be difficult to acquire in densely populated India. Land acquisition issues have stalled many wind projects (Crespai, 2022).
Connecting wind energy projects to the electrical grid can also be challenging. Grid capacity is limited in some regions, and the variability of wind power can require grid upgrades to handle fluctuations. Insufficient grid infrastructure has hindered growth in wind energy capacity (TPCI, 2023).
Finally, policy uncertainty and frequent regulatory changes have discouraged long-term investments in India’s wind sector. More consistent policies and incentives could help provide stability and drive growth going forward.
Future Outlook
The future outlook for wind energy in India is positive, with projections for steady growth over the next 5-10 years. According to a report by the Global Wind Energy Council (GWEC), India is expected to see annual installations of wind energy capacity increase from 1.8 GW in 2022 to 2.8 GW in 2023, 3.7 GW in 2024, and 4.8 GW in 2025.[1]
One major opportunity is in offshore wind energy. The GWEC projects India will have 1 GW of offshore wind installations by 2027 and 5 GW by 2032. Offshore wind has advantages over onshore, like higher capacity factors and fewer land constraints. This untapped potential can greatly expand India’s wind energy production if policies continue supporting its growth.[2]
There are also innovations happening in wind turbine technology that may boost efficiency and capacity factors. Larger rotors, taller towers, improved materials, and advanced digital capabilities can make turbines capture more energy for the same cost. Adoption of these new technologies and designs will help Indian wind farms produce more renewable power from the same level of capital investment.[3]
Conclusion
In summary, Suzlon Energy emerges as the number one wind energy company in India due to its long history in the market, large installed capacity and wind turbine manufacturing capabilities. However, other players like ReNew Power, Inox Wind and Tata Power are also major contributors to India’s renewable energy growth through their large portfolios of wind energy projects across the country.
The wind energy sector in India is expected to continue its rapid growth in the coming years as the country works towards its ambitious renewable energy targets. Key players will need to focus on efficiently harnessing India’s vast wind energy potential through technology innovations, cost reductions and supportive policy frameworks. With the right strategies, India’s top wind energy companies can play a leading role in the country’s clean energy transition.
