India’s Wind Capacity Set To Surge With Rs 2 Lakh Crore Investment; Wind Power Developers Invited For 500 MW ISTS-Connected Projects and More...

India’s wind capacity is set to witness a significant boost, with an expected increase of approximately 2.5 times to nearly 25 GW between fiscals 2025 and 2028, compared to around 9 GW between fiscals 2021 and 2024 as per Crisil Ratings. This expansion entails a substantial capital expenditure of Rs 1.8–2 lakh crore.

SECI has issued a Request for Selection (RfS) document for wind power developers aiming to set up 500 MW ISTS-connected wind power projects in India under Tariff-Based Competitive Bidding (SECI-Tranche-XVII). The earnest money deposit (EMD) required for this endeavor is ?12,98,000/- per MW per project, to be submitted as a bank guarantee along with the response to the RfS.

Inox Wind Ltd. (IWL), a leading wind energy solutions provider in India, announced that its Board of Directors has approved a plan to raise funds during their meeting on May 31, 2024. Subject to shareholder and regulatory approvals, the proceeds from Inox Wind Energy Limited’s (IWEL) block sale of IWL shares on May 28, 2024, will be infused into IWL through the issuance of 0.01% Non-Convertible Non-Cumulative Participating Redeemable Preference Shares (NCPRPS) to IWEL. The funds will be used to fully repay external debt and enhance working capital, further strengthening IWL’s balance sheet.

India’s leading renewable energy solutions provider, Suzlon Group , has recently clinched an order for an 81.9 MW wind energy project with Oyster Green Hybrid One Private Limited. The project involves the installation of 26 Wind Turbine Generators (WTGs) featuring a Hybrid Lattice Tubular (HLT) tower. Each WTG boasts a rated capacity of 3.15 MW and will be situated at the client’s site in Agar, Madhya Pradesh.