India’s mega renewable energy target to drive growth of wind energy sector: WoodMac


India’s mega renewable energy target to drive growth of wind energy sector: WoodMac

Aggressive renewable energy target in India and “explosive” growth in the offshore sector are expected to drive a 10-year CAGR of 12.2 per cent in the wind energy sector in Asia Pacific, excluding China, said a report by research group Wood Mackenzie.

“Target compliance in India is likely to bifurcate the next decade’s outlook, with near-term challenges posing issues for the 2020 target. Cumulative offshore capacity in the region will reach almost 19 GW from just 111 MW at the end of 2018, led by growth in Japan, Taiwan and South Korea,” said Luke Lewandowski, director, Wood Mackenzie Power & Renewables Research.

He also said that China’s market recovery would continue, as additional provinces in the north work to lift red warnings, supporting 250 GW of capacity through to 2028. Read More

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