BloombergNEF forecasts less than 2 GW of wind capacity addition in India in 2020

According to a recent report on the global wind market by BloombergNEF, the year 2020 is set to witness less than 2 GW of wind power capacity additions in India due to the Covid-19 pandemic. Just 1,306 MW to 1,506 MW of wind capacity additions are expected in 2020, which is significantly lower than 2,370 MW installed in 2019 and 2,290 MW in 2018. The expected range is based on the pandemic and the duration for which it lasts. According to the report, 1,506 MW will be installed in 2020 and 3,799 MW in 2021, if Covid-19 remains a single-wave pandemic. However, the installations will be limited to 1,306 MW in 2020 and 3,164 MW in 2021, if Covid-19 becomes a multiple wave pandemic. In case it turns out to be an enduring pandemic, the 2020 estimates will remain at 1,306 MW, but the 2021 installations will decline to 2,649 MW.

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