Pandu Chillakuru, a seasoned finance professional, carr- ying multiple Fellowships from various international Accounting bodies Pandu boasts of an extensive three decades long career in Business Management working for companies such as Cavin Kare, ZF Group and Flender.

In a recent interaction with Charulatha M (Correspondent, Siliconindia), Pandu shared his valuable thoughts on various aspects pertaining to the current wind energy sector in India. Below are a few key extracts from the exclusive interview –

Tell us about the role of government policies in developing the wind energy sector in India
Over the years, Indian government has strongly supported the wind industry through various initiatives such as tax benefits in terms of accelerated depreciation and generation based incentives. This served as a major encouraging factor for individuals to enter this sector and start investing in wind turbines, which marked the beginning of the wind industry in India. However, reverse bidding had caused a major setback to the wind industry in the country, forcing the government to reverse its decision couple of years later. The latest support from the government was in terms of announcing RPO Trajectory which will nourish renewable energy sector in the country. A few of other moves from the government to encourage the wind industry are waiving-off interstate transmission charges completely, and announcement of National offshore wind energy policy.

Throw some light on the Indian wind industry in terms of installed capacity and market share within the country's energy mix?
As of September-October 2023 , the total wind installations in the country amounted to around 44 GW, with the overall power installations standing at 425 GW. In terms of energy mix, in 2022-23, the total power generation across the country was around 1600 billion units, of which 72 billion were from wind energy installations which is roughly 5%.

The environmental impacts associated with coal/fossil fuel based power is extensive and goes beyond cost considerations

What has been the Indian wind industry’s response to environmental concerns and evolving market dynamics?
During 26th Session of Conference of Parties (COP26) India has committed itself to reach 500 GW of non-fossil energy by 2030, of which wind energy is expected to be around 140 GW. Additionally, the government also intends to have 50 percent of the country's energy requirement to be coming from renewable energy sources by 2030, thus reducing the carbon emissions by over a billion tons. Further, it has also committed to achieve Net Zero status by 2070. On the other hand, if you look at the market dynamics, the end customers are more inclined towards products/solutions developed using renewable energy. As a result, an increasing number of businesses from commercial and industrial sectors are demanding for green power.

"Given the evolving geopolitical landscape worldwide, India as a production hub is increasingly garnering significance among global enterprises"

How does the cost of wind energy in India stack up against fossil fuels and solar power?
Wind power tariff is currently around Rs.3.00 per unit, with solar power standing at approximately Rs.2.80 per unit. In contrast, power derived from coal or other fossil fuels falls within the range of Rs.4.80 to Rs.6 per unit. The environmental impacts associated with coal/fossil fuel based power is extensive and goes beyond cost considerations. Furthermore, with the global increase in coal prices, the cost of coal-based power is poised to escalate in the future.

Briefly explain how the Indian wind industry fits into the global context of renewable energy
The Indian wind industry not only caters to the domestic requirement, but also to European and American markets as well. The next big market for us will be the East Asian region, where the acceptance of Indian wind equipment is gradually gaining widespread acceptance. Given the evolving geopolitical landscape worldwide, India as a production hub is increasingly garnering significance among global enterprises. Companies are strategically diversifying their supply chains, shifting away from dependence on certain regions. This move reflects a broader trend where India emerges as a pivotal player in mitigating risks associated with global business operations. Consequently, India is on a trajectory to position itself as a prominent 'global production hub' for the wind industry, capitalizing on its growing appeal as a reliable and resilient manufacturing base.