India’s ambitious target of scaling up wind energy capacity to 60 gigawatts by 2022 can be “easily achieved” based on momentum the sector has gained, driven primarily by the maturity of the manufacturing base, cost-competitive supply chain in India and availability of reliable products which is bringing down the cost of energy, Tulsi Tanti, chairman and managing director of Suzlon Group said.India added a record of 5,400 mw of wind energy capacity in FY17, up 60 per cent from 3,400 mw added a year ago. With this addition, India’s total wind energy installation stands at 32 gw.There was huge investor interest in the sector and a critical role was played by the state governments for this outstanding result. There was excellent support by the state governments to establish greenfield manufacturing units, presence of FIT framework, project management, evacuation and installations. The central government also ably supported this growth with policy support (GBI & Accelerated Depreciation), thus enabling this historical milestone of 5,400 mw,” Tanti said in a statement. ..Renewable energy sector has seen investments rising to $ 14 billion in 2016-17 from $ 7 billion in 2015-16 and $ 4 billion in 2014-15. The renewable sector is now growing by 100 per cent on a YoY basis. The RE installations has grown from 36 GW in FY15 to 57 GW in FY17. This sector is witnessing unprecedented growth,” Tanti said.
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