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Wind Turbine Market in India & South East Asia Outlook Update Q1 2020

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Report Summary The risk of NPA in wind power segment in India due to renegotiation of wind PPAs has hit wind turbine OEMs – Sluggish wind power capacity expected in Q1 2020  

Wind Turbine Market in India & South East Asia Outlook Update Q1 2020

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    Wind power capacity in India continued to grow robustly in 2019, supported by the central government reforms as well as state-level policies. Furthermore, reduction in power tariffs due to improvement in the cost and performance of wind power over the year have also driven high wind capacity additions in India. However, India installed only ~3 GW of wind capacity  in 2019 which is close to 34% below the estimated targeted wind capacity. The dismal response of the wind capacity addition is mainly attributed to the financial stress of turbine makers, land acquisition issues and grid connectivity delays and denting investors sentiments due to re-opening of wind PPAs. Moreover, given the already stress and weak funding atmosphere, any  misstep would magnify the risk of non performing assets (NPA) in wind power segment.

    Vietnam is rising as Southeast Asia’s new wind hero, with the world’s biggest offshore wind farm to be built off its windy coast total installation of 1000 MW by 2021

    With South East Asia’s economy ballooning the countries has made great strides to boost wind power to keep pace with soaring energy needs and bring down carbon emissions, introducing more ambitious wind power targets and favourable policies that have attracted investors from all over the world. Vietnam is forecast to install 1 GW of onshore and offshore wind capacity by 2021, up from the current 327MW, surpassing Thailand which is at present Southeast Asia’s front-runner in installed wind capacity. Hence, global wind players are likely to turn their heads to South east Asian market.

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