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

According to a recent report by BloombergNEF on the global wind market, the year 2020 is expected to witness less than 2 GW of wind power capacity additions in India due to the Covid-19 pandemic. Only 1,306-1,506 MW of wind capacity additions are expected in 2020, which is significantly lower than the 2,370 MW installed in 2019 and 2,290 MW in 2018. The expected capacity addition will vary depending on the duration for which the pandemic 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 it 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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