India added 2.4GW of new wind capacity in 2019 – marginally above its 2018 installations of 2.3GW. The top two turbine makers grabbed 49% of the Indian market in 2019. Siemens Gamesa emerged as the top turbine supplier in 2019 in the country, pushing the last year’s number one, Suzlon, into second place. Vestas, Inox Wind, GE Renewable Energy, and Envision Energy together grabbed 47% market share. The remaining 4% was supplied by five other manufacturers.
A hangover from last year’s problems over land acquisition and transmission connectivity will trouble wind project developers and manufacturers in 2020. Expect 2.6GW of new wind capacity additions in 2020, roughly 8% higher than the 2019 total, according to Atin Jain, India associate at BloombergNEF (BNEF).
If Suzlon’s project execution challenges continue, it could provide an opening in 2020 for Siemens Gamesa to strengthen its market leadership in India. Other international manufacturers like GE, Acciona Nordex, Vestas and Envision could also try to eat into the former industry leader’s market share, says Shantanu Jaiswal, head of India research at BNEF.
Figure 1: India’s 2019 wind turbine supplier market share
Source: BloombergNEF. Note: Others include Regen Powertech, Pioneer Wincon, RRB Energy, Global Wind Power, and Leitwind Shriram. Only projects independently verified by BloombergNEF are included, and thus the data in this report may differ from a manufacturer’s self-reporting or other industry rankings.
- Siemens Gamesa seized the top spot in BNEF’s manufacturers ranking in India in 2019, toppling the domestic supplier Suzlon. Operational issues at other manufacturers, and the competitive nature of Siemens Gamesa, helped it reach the top position. The company was able to seize 453MW of new turbine orders from Alfanar Company that were originally supposed to be supplied by Senvion.
- Suzlon’s market share in total installations dropped to 19% in 2019, from 41% in 2018 as the company faced financial and operational challenges. Suzlon installed 0.46GW of projects in 2019, 50% lower than its installations in 2018.
- Vestas supplied 15% of the projects commissioned in 2019. It delivered 0.35GW of projects in 2019, some12% lower than in the previous year.
- Inox Wind installed 0.26GW of projects in 2019. It managed to increase its market share to 11% from 6% in 2018. As with Siemens Gamesa, Inox was also able to win orders from power producers that had earlier placed orders with Senvion. Renew Power placed an order for 38MW of turbines for its SECI II project. Inox also won a 250MW order from continuum Wind for its SECI IV project.
- Late surge in Offshore Wind financing helps 2019, Renewable Investment to overtake 2018.
- Asia Poised to Become the Dominant Market for Wind Energy
- India supplied 0.25GW of turbines and accounted for 11% of the total installations in 2019. In 2019, only one power producer commissioned wind turbines made by GE.
- Chinese manufacturerEnvision delivered its first two projects in India in 2019. This allowed it to capture a 10% market share in total installations. The company has not announced any more order wins for projects in India and is expected to focus on delivering turbines in its home market in 2020.
- Senvion supplied just 0.03GW of projects in 2019, equivalent to a mere 1% of the market. It lost 741MW out of its 980MW order book from auctions to Siemens Gamesa and Inox Wind, after the company announced it was segregating its India business into a wholly-owned but independent operating unit.
- The geographical split of installations: Gujarat saw the highest installations, at 1.4GW, accounting for 59% of all additions in 2019, followed by Tamil Nadu (28%). Maharashtra (9%), Karnataka (3%), Andhra Pradesh (1%) and Kerala (0.4%) accounted for the remaining capacity additions. The windy states of Madhya Pradesh and Rajasthan did not commission even a single turbine in 2019.
Figure 2:Wind installations in India in 2019, by state
Source: BloombergNEF, Ministry of New and Renewable Energy. Note: Data includes fully and partially commissioned projects.
- Methodology: All the data used in this report are based on BloombergNEF’s project database of installed wind farms in India. The data is cross-checked project-by-project against data submissions made to BNEF by each wind turbine manufacturer. Only projects independently verified by BloombergNEF are included, and thus the data in this report may differ from a manufacturer’s self-reporting other industry rankings. Turbines delivered within one year would not necessarily be installed or commissioned within the same year given the normal lead times in developing wind projects. On the other hand, projects with turbines delivered in the previous year may be commissioned within the current year and be credited.
- Accuracy claims and data review: BloombergNEF investigates all accuracy claims and inquiries in a timely manner, but cannot assure completion of any investigation prior to to the respective deadlines. A full inventory of the participant’s data only was sent out to participants for review prior to the publication of this report. Feedback from the participants on their own data was incorporated into this report and into the BloombergNEF database to improve the accuracy of our future reports. Where a non-disclosure agreement (NDA) was signed with a participant in return for access to their data, these figures and any feedback on them would only be incorporated into the report and not be included in our database or in other publications.
Copyright: © Bloomberg Finance L.P. 2020. This publication is the copyright of Bloomberg Finance L.P. in connection with BloombergNEF. No portion of this document may be photocopied, reproduced, scanned into an electronic system or transmitted, forwarded or distributed in any way without the prior consent of BloombergNEF.