According to the report, compiled by the Global Wind Energy Council (GWEC), the World Institute of Sustainable Energy (WISE) and the Indian Wind Turbine Manufacturers Association (IWTMA), India could see around 5 GW new wind capacity installed every year to 2020, attracting around $16.5 billion of annual investment.

The report shows that India’s potential for wind power development reaches up to 400 GW, and more if the potential of offshore wind and repowering are fully exploited.

By 2030, installed capacity could reach as much as 191 GW, the report added, making a valuable contribution to India’s power generation portfolio.

But GWEC called for government to take action to encourage activity in the sector. “India’s wind power sector has a mature manufacturing industry, and enormous growth potential. Now we need to get the right policies in place both nationally and at state level for India to meet its target of 15% renewable electricity supply by 2020,” said Steve Sawyer, GWEC’s secretary general.

India faces chronic power shortages, as its growing economy pushes up demand faster than new infrastructure comes online.

“Power shortages and energy security are both critical issues for India’s rapidly growing economy. Wind is already cost-competitive with heavily subsidised fossil fuel based energy in several Indian states, and its competitive position will only improve over time,” said Sawyer. “But we need effective national energy policy, coordination with states, investments in the grid and policy stability for wind power to fulfil its potential in India.”

India was the third largest wind power market in 2011, after China and US, and fifth in overall cumulative installed capacity.

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