India Wind Power Market to Reach 89.49 GW by 2030, Driven by Reduced Tariffs and Government Initiatives

Strategic Insights -

The Indian wind power market is witnessing significant growth, driven by reduced tariffs and government initiatives. The cumulative installed wind power capacity in India stood at 48.16 GW in FY 2024 and is expected to reach 89.49 GW by FY 2030, expanding at a compound annual growth rate (CAGR) of ~11.26% during the 2025-2030 period. The wind power market in India includes the establishment of wind farms, procurement of wind turbine parts, research and innovation, and incorporation into the national energy grid.

Key Takeaways:

  • The Indian wind power market is expected to reach 89.49 GW by FY 2030, driven by reduced tariffs and government initiatives.
  • The wind power market in India is expected to expand at a CAGR of ~11.26% during the 2025-2030 period.
  • The Generation Based Incentive (GBI) Program provides a monetary reward of INR 0.50 for each unit of electricity produced by wind energy initiatives, limited to INR 10 Mn for each MW.
  • Offshore wind power offers a significant opportunity for India, with extensive untapped resources along its shores that can harness stronger and more reliable wind speeds for enhanced energy production.
  • The top 5 major contributor states in terms of electricity production from wind power projects are Andhra Pradesh, Gujarat, Maharashtra, Karnataka, and Tamil Nadu.
  • The Indian wind power market is expected to see significant investment from both domestic and international sources, driven by reduced tariffs and government incentives.

Statistics:

  • Cumulative installed wind power capacity in India: 48.16 GW (FY 2024)
  • Expected cumulative installed wind power capacity in India by FY 2030: 89.49 GW
  • Compound annual growth rate (CAGR) of wind power market in India during 2025-2030: ~11.26%
  • Number of wind farms established in India: Not specified
  • Total renewable energy capacity in India (excluding large hydro power projects): 86.66 GW (FY 2024)

Sources:

  • "Wind Power Market in India (2025-2030)"
  • ResearchAndMarkets.com
  • https://www.researchandmarkets.com/r/pofhhq
  • M2 PressWIRE: 22052025