Suzlon Group, India’s largest renewable energy solutions provider, has commissioned 626 MW of wind power projects in the financial year 2017-18 (FY18).
With this, Suzlon has gained a market share of 35 % despite an extremely challenging year for the sector and several hurdles due to the transition from Feed-in- Tariff (FiT) to bidding regime.
As a result, the overall wind industry installations plummeted to 1,766 MW in FY18 (32% of FY17 installations) due to stagnant volumes, uncertainty on PPAs and policy environment.
Group CEO J.P. Chalasani said: “This achievement is a testament to our strong technical and project execution capabilities and over two decades of experience in the Indian market.
“We have achieved this excellence despite a challenging year for the industry owing to the transition from Feed-in Tariff to the competitive bidding regime.”
He added: “FY19 would be the start of a high volumes market with central and state-level auctions in India. The sector will witness exponential growth with ~10-12 GW volumes each year. There is a clear visibility of volumes even before the start of FY19.
“Suzlon is well positioned to reap the benefits in this new business regime with its end-to-end solutions, continuous investment in India specific wind turbine technology, vertically integrated operations and best in class services.”