Indian Wind Industry Analytical Report - FY 2017-18 Nitin V Raikar – Indian Wind Turbine Manufacturers Association (IWTMA) ([email protected])

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Indian Wind Industry Analytical Report - FY 2017-18 Nitin V Raikar – Indian Wind Turbine Manufacturers Association (IWTMA) (Nitinraikar@Indianwindpower.Com) Indian Wind Industry Analytical Report - FY 2017-18 Nitin V Raikar – Indian Wind Turbine Manufacturers Association (IWTMA) ([email protected]) Key Pointers Installed Capacity FY 2018E witnessed a substantial drop in installation volumes primarily due to the transition phase from the FiT regime to the auction based regime Commissioned capacity addition of 1.78 GW in FY 2017-18 as against 5.5 GW in FY 2016-17 This represents a dip of close to 70% for the corresponding period in last fiscal This capacity addition translates to an investment of ~ 1.8 billion USD Cumulative Wind power capacity in India surpasses 34 GW mark and stood at ~34.06 GW as on 31st March 2018 Cumulative Wind capacity constituted ~50% of India’s total Grid Interactive Renewable Energy capacity Cumulative Wind capacity constituted ~9.8% of India’s total installed power capacity from all energy sources Environmental Benefits Quantified Cumulative Grid Interactive wind power installations would translate to (on per annum basis) Emission offset of ~73 million tonnes Coal savings of ~55 million tonnes Sulphur Dioxide emission offset of ~ 0.60 million tonnes Tentatively power ~18.5 million number of Households Equivalent cars taken off the road/year ~12 million Equivalent Number of Trees planted per annum ~ 6062 million trees Key Pointers – States Karnataka leads in capacity addition by commissioning 779.80 MW followed by AP (348.10 MW), Tamilnadu (324.35MW), Gujarat (272.80MW), Madhya Pradesh (22.10MW), Rajasthan (16 MW), Maharashtra (12.60MW), Installations in all the 7 windy states State wise capacity addition for FY 2017-18 with comparison to FY 2016-17 State FY 2016-17 (MW) FY 2017-18 (MW) Growth/De-growth % Quarterwise Capacity Addition Andhra Pradesh 2179.45 348.10 ~84% Gujarat 1391.65 272.80 ~80% FY 2018E 2000 Karnataka 905.55 779.80 ~14% 1775.78 Madhya Pradesh 356.70 22.10 ~94% 1171.33 Rajasthan 287.70 16.00 ~95% 1000 MW Tamilnadu 256.13 324.35 ~26% 257.63 Maharashtra 93.30 12.60 ~86% 192.70 154.13 Total 5509.58 1775.75 ~68% 0 Q1 Q2 Q3 Q4 Total Key Pointers – Original Equipment Manufacturers (OEM) Market share: INDIAN WIND INDUSTRY SCORE CARD FY 2017-18 Total. Market WTG Manufacturer GUJ. MP. MAH RAJ. KAR. TN. AP. TEL. KER Capacity share - (%) (MW) Suzlon Energy Limited 102.90 18.90 12.60 0.00 212.10 78.20 201.60 0.00 0.00 626.30 35.27% Gamesa Wind Turbines Pvt Ltd 20.80 0.00 0.00 0.00 318.00 115.40 98.00 0.00 0.00 552.20 31.10% Vestas Wind Technology India Private Limited 0.00 0.00 0.00 0.00 117.60 54.00 10.00 0.00 0.00 181.60 10.23% INOX 104.00 0.00 0.00 16.00 50.00 0.00 4.00 0.00 0.00 174.00 9.80% GE India Industrial Limited 20.70 0.00 0.00 0.00 41.70 0.00 34.50 0.00 0.00 96.90 5.46% Wind World India ( Formerly Enercon India) 18.40 3.20 0.00 0.00 22.40 0.00 0.00 0.00 0.00 44.00 2.48% Regen Powertech Pvt Ltd 1.50 0.00 0.00 0.00 0.00 42.00 0.00 0.00 0.00 43.50 2.45% Pioneer Wincon 4.50 0.00 0.00 0.00 0.00 15.00 0.00 0.00 0.00 19.50 1.10% Acciona Windpower Nordex 0.00 0.00 0.00 0.00 18.00 0.00 0.00 0.00 0.00 18.00 1.01% RRB Energy 0.00 0.00 0.00 0.00 0.00 12.60 0.00 0.00 0.00 12.60 0.71% Leitner Shriram Manufacturing Ltd 0.00 0.00 0.00 0.00 0.00 6.00 0.00 0.00 0.00 6.00 0.34% Global Wind Power Limited (GWP) 0.00 0.00 0.00 0.00 0.00 0.90 0.00 0.00 0.00 0.90 0.05% Shriram EPC Ltd. 0.00 0.00 0.00 0.00 0.00 0.25 0.00 0.00 0.00 0.25 0.01% Grand Total 272.80 22.10 12.60 16.00 779.80 324.35 348.10 0.00 0.00 1775.75 Total No of Original Equipment Manufacturers (OEMs)who added capacity: 13 The top 5 OEMs ( who added capacity close to 100 MW each) constituted ~92% of the total installed capacity . Suzlon Energy Limited . Gamesa Renewable Pvt Limited . Vestas Wind Technology India Private Limited . Inox Wind Limited . GE India Industrial Pvt Limited Top OEMs who have a cumulative installation base exceeding 1000 MW or 1GW in India – . Suzlon Energy Limited - ~11.92 GW . Gamesa Renewable Pvt Limited ~ 5.3 GW . Wind World (India) Limited ~4.9 GW . Vestas Wind ~2.3 GW (excluding Vestas turbines of RRB Energy) . Regen Powertech Pvt Limited ~2.3 GW . Inox Wind Limited ~2.3 GW Key Pointers – Key Investors with Project State Legend Gamesa Suzlon Inox GE Regentech Vestas Nordex Acciona Leitner Windworld Key Investors FY 2017-18 - OEM Matrix Total. Capacity Industry Investor GUJ. MP. MAH. RAJ. KAR. TN. AP. TEL. KER. (MW) Segment 150.00 69.30 Renew Power (includes Ostro) 10.00 50.40 386.90 IPP 7.20 100.00 27.30 Utilit Torrent Power 120.00 164.90 17.60 y Skeiron Renewable Energy Private Limited 107.10 37.80 144.90 IPP Axis Windfarms 109.20 109.20 IPP 23.30 Atria Power 16.00 56.90 IPP 17.60 Continnuum Energy 54.00 54.00 IPP Hero Future Energies 50.00 50.00 IPP NTPC 48.00 48.00 PSU Greenko Group 44.00 44.00 IPP Oil India 18.90 18.90 37.80 PSU ILFS 20.70 15.20 35.90 IPP 25.30 Ecoren 35.30 IPP 10.00 20.00 SITAC RE 22.00 IPP 2.00 Bhoruka Power Corporation Ltd 18.40 18.40 IPP Sun Photo Voltaic Energy India Private Limited (Acciona 18.00 18.00 IPP Nordex) Utilit Tata Power Renewable Energy 16.50 16.50 y Semb Corp 12.00 12.00 IPP Utilit Surya Vidyut Ltd (SVL) 10.00 10.00 y Mytrah Energy India Limited 9.20 9.20 IPP KREDL 8.40 8.40 PSU SJVN Ltd 6.00 6.00 PSU Nevyali Lignite Company (NLC) 6.00 6.00 PSU Ahmedabad Municipal Corporation (AMC) 4.20 4.20 PSU Researched and compiled by Nitin V Raikar ([email protected]) Key Investors : FY 2018E Installation chart & Segmentation 500 483.25 450 386.90 400 350 300 250 200 164.90 144.90 150 109.20 100 56.90 54.00 50.00 48.00 44.00 37.80 35.90 35.30 50 22.00 18.40 18.00 16.50 12.00 10.00 9.20 8.40 6.00 6.00 4.20 0 Corporate IPPs - Large Corporate 1200.00 Installed Capacity (MW) 996.70 1000.00 800.00 600.00 477.25 400.00 301.80 200.00 0.00 Independent Power Corporate + SME Investors Public Sector Units/ Utilities Producers (IPPs) (Central/State/Private) Independent Power Producers (IPPs) Corporate + SME Investors Key Pointers – Product/Technology/Milestones A total of 942 WTGs of different make and type were installed and commissioned Average turbine size decreased to 1.89 MW from 1.93 MW corresponding to the preceding FY 2016-17 Siemens Gamesa develops India's first large commercial hybrid wind-solar project - 28.8-MW solar facility connected to an existing 50-MW wind farm Suzlon Energy Limited successfully proto commissions its new product – S128 with a Rated Capacity of 2.1 MW & Rotor Dia of 128 meters Vestas debut commissions its V110 Rated Capacity 2.2 MW in this fiscal in Karnataka, India Gamesa surpasses 5GW of installations in India Key Pointers – Product Size & Range Product Class Segmentation for FY 2017-18 % of total % of total Product Size (Range)* No of WTGs MW WTGs MW “Mainstream” < 1500 - 3000 kW 830 88.11% 1694.30 95.41% “Megawatt” < 751 - 1499 kW 60 6.37% 48.20 2.71% “Small WTGs” < 750 kW 52 5.52% 33.25 1.87% Total 942 1775.75 Average Rated Capacity (MW) 1.89 *Methodology sourced from web sources Classification by Drive train topology Drive Train Topologies Share for FY 2017-18 % of total MW % of total Nos. of Drive Train Topology installed WTGs installed Geared Drive Train 95.07% 91.08% Direct Drive Train 4.93% 8.92% Geared Drive train topology continues to dominate Key Policy and Regulatory Announcements – FY 2018E-YTD Policy/Regulatory Announcements FY 18E - YTD The Maharashtra State Electricity Distribution Company Limited (MSEDCL) has tendered 250 MW of wind power projects to be developed in the state. The bid-submission deadline is May 10, 2018 Order on generic tariff for Wind Power and related issues (Order No. 6 of 2018 dated 13 Apr 2018) MNRE calls for ‘Expression of Interest’ for first offshore wind energy project of 1000 MW capacity and plans to install at least 5 GW of offshore wind capacity by 2022 The National Thermal Power Corporation (NTPC) has forays in competitive wind auctions and has issued a mega tender for development of 2 GW of interstate transmission system connected wind power projects across India MNRE issued the course of action as part of an order that pertains to the compliance of WTG models to the technical standards of the Central Electricity Authority (CEA) for grid connectivity (Low voltage ride through (LVRT) certification) Winning Bids of 2.85-2.87/kWh Quoted in MSEDCL’s 500 MW Wind Auction The Karnataka Electricity Regulatory Commission (KERC) has reduced the banking period of renewable energy projects from one year to six months.
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