Wind Power Market in India (2025-2030)

Market insights:

The wind power market in India relates to the industry focused on generating, installing, and distributing electricity via wind power.

In FY 2024, the cumulative installed wind power capacity in India stood at 48.16 GW and is expected to reach 89.49 GW by FY 2030, expanding at a compound annual growth rate (CAGR) of ~11.26% during the 2025 - 2030 period. The wind power market in India includes the establishment of wind farms, procurement of wind turbine parts, research and innovation, and incorporation into the national energy grid.

The increasing need for clean energy options, India's dedication to renewable energy goals, and governmental backing for sustainable power production are key elements driving the expansion of this industry.

Market drivers:

Reduced tariffs on renewable energy generation in India promote investments from both domestic and international sources in the wind energy sector, boosting its competitiveness compared to traditional energy sources and encouraging greater acceptance among businesses and consumers.

These tariff cuts promote the swift expansion of wind energy initiatives, facilitating quicker market entry and greater infrastructure development.

Market trends:

Offshore wind power offers a major opportunity for India, with extensive untapped resources along its shores that can harness stronger and more reliable wind speeds for enhanced energy production.

Improvements in offshore wind turbine technology and floating platforms are enhancing the feasibility and cost-efficiency of developing projects in deeper waters, broadening the potential for offshore wind energy.

Favorable government initiatives:

The Generation Based Incentive (GBI) Program provides a monetary reward of INR 0.50 for each unit of electricity produced by wind energy initiatives, limited to INR 10 Mn for each MW, along with the feed-in tariff offered by states.

The program is tailored for wind energy initiatives, promoting investments in the industry by offering incentives for electricity supplied to the grid from wind farms connected to it.