India has set a target of achieving overall wind energy installed capacity of 27,300MW by 2017 and 38,500MW by 2022. As per NOVONOUS estimates, this creates an US$ 31.25 billion opportunity in the wind energy market in India till 2022.
The total installed capacity of the Indian Wind Energy market is 21136.20MW. India stands at the 5th Rank in terms of the total installed wind power capacity just behind China, USA, Germany and Spain. But the potential is far from being utilized. It is estimated by the Indian Wind Energy Association that the Wind power potential for all the states of India put together would be in the order of 102GW. Brazil, Sri Lanka, the Netherlands, UK and Greece were top 5 countries in year 2013-14 in terms of importing Indian wind turbine generators. In terms of value these 5 countries imported wind turbine generators worth US$ 52.48 million. The UK, Vietnam, South Korea, China and Germany were top 5 countries in year 2013-14 exporting wind turbine generators in India. In terms of value these 5 countries exported wind turbine generators worth US$ 3.14 million to India.