India is one of the top leaders in the world and wind energy has played an important role in it. As a country India continues to reduce its reliance on fossil fuels and wind energy has contributed to using India’s vast wind resources.
India provides great potential for utilizing wind energy from the sea thanks to its 7600 km of coastline, which is encircled by ocean on three sides. Therefore, offshore wind energy has great potential to diversify the country’s renewable energy in the future.
As of March 31, 2024, the total installed wind power capacity was 45.887 gigawatts (GW). India has the fourth-highest installed wind power capacity in the world (source).
Unlike other industries, which heavily depend on equipment imports, wind energy-rich resource capacity and robust domestic manufacturing contributed to the growth of the onshore wind power industry.
According to an assessment by the Global Wind Energy Council India is projected to install 21.2 GW of wind energy by 2027, with potential installations that could reach up to 26.2 GW in a best-case scenario or 17 GW in a more conservative scenario.
In this article, we will examine the top 10 wind energy companies in India, analyzing their contributions, technological advancements, and the impact they have on the nation’s energy landscape.
1. Suzlon Energy Limited
Suzlon Energy Limited is undoubtedly one of the top leaders in the Indian wind energy sector. Its headquarters are based in Pune, Maharashtra, and since its establishment by Tulsi Tanti in 1995, it has grown to be among the largest companies in the wind energy business in the world.
The company is known for its innovation and is the leading manufacturer of wind turbine generators in the world. It has developed an enormous line of turbines suitable for all different kinds of wind conditions from low to high. Its S-series turbines were designed for low and medium wind speed sites, and they have been one of the largest sellers throughout India and worldwide.
Its R&D (research and development) team focuses on enhancing turbine efficiency for better energy production and the best value for their investment. Constantly makes an effort to reduce the time taken for a wind farm or solar plant to start production results while extending its productive life.
The company has 20.8 GW installed wind energy capacity globally (14.8 GW in India only) and a huge 32% growing market share in India.
As per the reports the company is running on positive EBITDA and making a profit after all the tax and depreciation. It is listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) in India.
It has a market cap or net worth of 1.01 trillion as of September 9, 2024. Its market cap has increased by 308.53% in one year.
Though India remains its single largest market, the company has an excellent international presence with operation bases in over 18 countries. With global experience and research centres in Denmark, Germany, the Netherlands, and India, Suzlon has brought India superior technology and the best practices of the world.
It is committed to sustainability very much to the core and has initiated reducing its environmental footprint. Besides that, the company has actively engaged in community engagement programs through education, healthcare, and infrastructure support in the communities surrounding its wind farms.
Headquarters: Suzlon Energy Ltd. One Earth, Hadapsar, Pune 411028, India.
Contact info.: +91-20-670 22000
Email: investorrelations@suzlon.com
2. Vestas India
Another major contributor to India’s wind energy market is Vestas India, a subsidiary of the Danish wind energy giant “Vestas Wind Systems”. It was established in India in 1997, and since then the company has utilized its expertise as one of the leading wind energy suppliers in the country.
It is known for its leading position in new technology and offers a product portfolio as per the performance required for the different wind conditions in India. The V120-2.0/2.2 MW turbine, particularly designed for low and medium wind speeds, has been very successful in the Indian market.
It provides value-added services from project planning to installation, maintenance, and optimization. The service offerings of the company have made it a preferred partner for many wind energy projects in India.
The company was listed on the NASDAQ Copenhagen in 1998 and has more than 2,00,000 shareholders across the world. It has a market cap or net worth of 150.55 billion as of September 9, 2024.
This company is committed to cleaning up the planet with its sustainable energy solutions. The company has ambitious plans for carbon neutrality by 2030 and zero-waste wind turbines by 2040, actively recycling its installations to reduce the environmental footprint of the production process.
Registered Office: International Tech Park, Tower 1, 8th & 9th floor, Radial IT Park, 200 feet Radial Road, Zamin Pallavaram, Chennai -600117, Chengalpattu, Tamil Nadu.
Contact Info: +91 44-66889000
Email. supal@vestas.com
3. GE Renewable Energy
GE Renewable Energy, a subsidiary of General Electric Vernova, is amongst the leading companies in the field of wind energy in India. It has a rich history of engineering and innovation, and the company has brought into the Indian market one of the most technologically advanced wind energy solutions.
Its highly efficient turbines, such as the 2.5-132 and 2.7-132 models, which are designed for wind conditions in India, are supported by advanced control systems with capabilities for maximum energy production and lower operational costs. It has a market cap of $55.46 billion worldwide.
The company completed several large wind projects in various parts of the country, including Tamil Nadu, Gujarat, and Maharashtra. This has been possible due to the expertise of the company in project management and execution.
Sustainability plays a commitment of GE Renewable Energy to the environment by reducing the ecological footprint both in its operations and products. The company undertakes community development programs in all regions of its operation to provide education, healthcare, and infrastructural support for the communities.
Email: contact@gevernova.com
4. Inox Wind Limited
Inox Wind Limited has been one of the key Indian contributors to wind energy and a participant in the development of the country’s renewable energy capacity. The company has been in the manufacturing and commissioning of wind turbines.
It offers a portfolio of turbines for various wind conditions, including low wind speed areas. Its WT 2000DF model is quite in demand for the efficiency and reliability it promises.
Right from site identification and wind resource assessment to actual project planning and maintenance, this company does it all. And probably because of this end-to-end approach, the company has emerged as the preferred choice for a number of its developer clients in the Indian wind energy sector.
Having manufacturing facilities in Gujarat and Himachal Pradesh, it has a strategic production capacity. The company’s state-of-the-art facilities assure high-quality production and timely delivery of turbines.
According to the company’s financial reports, the company has a market capital of 305.17 billion. It is EBIDTA positive and making a profit of rs 563 crores with a growth of 190% in FY24.
Headquarters: INOX Towers, Plot No. 17, Sector 16-A, Noida- 201 301, U.P. India
Email: enquiry@inoxwind.com
Contact no. +911206149600
Read More: Best Renewable Energy Companies in India
5. Gamesa India (Siemens Gamesa)
Since it entered the Indian market in 2009, Gamesa India has come out to be one of the major contributors to the Indian wind energy sector. In this short period, the company has swiftly positioned itself among the leading wind turbine manufacturing and service-providing companies.
It provides a wide range of turbines for optimization in Indian conditions. These models include the SG 2.1 – 122 and the SG 3.4 – 145. The combination of these can be made for maximum energy production at minimum operation costs.
It has emerged as one of the major players in the Indian market, with a large installed base across most states. Its track record of delivering projects on time and within budget makes it a go-to partner for many wind energy developers.
It had a revenue of around €9.5 billion globally, with a significant portion coming from operations in India due to its large wind market.
The company is committed to the continuous reduction of the environmental footprint of its operations and products. It is also into community development through education, health care, and social welfare.
Headquarters: Siemens Gamesa Renewable Power Pvt. Ltd.
The Futura IT Park, Block B,
334, Rajiv Gandhi Salai (OMR), Sholinganallur, Chennai – 600119,
Tamil Nadu, India.
Email: info@siemensgamesa.com
6. ReNew Power
ReNew Power is one of the biggest renewable energy companies in India, and it has a big presence in the wind energy business. It was founded in 2011 by Sumant Sinha and rapidly increased to become a key player in the renewable energy landscape of India.
Its portfolio is filled with several projects at various stages of development in many states including Gujarat, Rajasthan, and Tamil Nadu. Its capability in developing, financing, and operating large-scale projects has a great influence on its success. The company’s success is evident by the fact that it managed to list itself on the NASDAQ (USA stock exchange) within just 10 years of its establishment.
its market capitalization is approximately $1.5 to $2 billion, with ₹9,348 crore revenue for FY 23.
Advanced technology deployed by ReNew Power ensures the high-end performance of its wind projects. Its software for wind resource assessment, project planning, and operational monitoring is highly sophisticated.
The company also pursues sustainability and has set stringent targets for carbon footprint reduction. It uses waterless robotic cleaning to reduce the water footprint.
Headquarters: ReNew Power Pvt. Ltd. Commercial Block 1, Zone 6,
Golf Course Extension Road, DLF City Phase V, Gurugram – 122009,
Haryana, India.
7. Sembcorp Green Infra Limited
Sembcorp is a subsidiary of Singapore-based Industries and represents one of the major contributors to the wind energy business in the country. The company features a balanced portfolio of renewable energy assets, having a strong focus on wind power.
It has a high-class asset built across several states like Gujarat, Karnataka, and Tamil Nadu. This focus on quality and reliability has made it a trustworthy partner for several developers and investors.
It is committed to sustainability and innovation and invests in advanced technology in performance optimization for its wind assets while reducing their environmental impact.
It is highly involved in community outreach programs to assist in upgrading education, health services, and social welfare. This company’s efforts have brought improvement to the community living around the wind farms.
Headquarters: Sembcorp India, DLF cyber city, Gurugram, Haryana.
Email: hr@sembcorp.com
8. Regen Powertech
Regen Powertech is among India’s fastest-growing wind energy companies, popularly known for its innovative solutions and topmost quality turbines. It was incorporated in 2006 and in no time has established itself as one of the leading companies within the Indian Wind Energy Sector.
It has been offering a range of turbines that are designed for various wind conditions. Its flagship model, the Vensys87, vensys82 – 1.5MW, assures high efficiency and reliability.
It covers everything from site identification and wind resource assessment to project planning and maintenance. This end-to-end approach has turned the company into a preferred partner for many developers in the Indian wind energy sector.
It is committed to sustainability and focuses on the reduction of the environmental impact of its operations and products. The company is involved in community development programs too, which provide education, health care, and infrastructure support to the communities surrounding the wind farms.
Headquarters: ReGen Powertech Pvt Ltd., Sivanandam Building, 1st Floor, New No1, Pulla Avenue, Shenoy Nagar, Chennai, TN – 600030. India.
Email: info@regenpowertech.com
9. Adani Green Energy Limited
AGEL is a subsidiary of the Adani Group, one of the largest conglomerates in India. It enjoys a considerable presence in wind energy and is considered one of the fastest-growing renewable energy companies in the country.
AGEL has developed several large-scale projects on wind energy at different locations in the country including installations in Gujarat, Madhya Pradesh, Tamil Nadu, and Rajasthan. The ability of the company to execute large projects without cost overrun and on time makes it lead in the wind energy sector.
It is committed to being sustainable and has set ambitious targets for carbon footprint reduction. AGEL is ranked 1st in Asia and among the top 3 companies globally for its ESG performance, according to ISS ESG, with a B+ Prime rating band.
It is listed on both BSE and NSE India with a market cap of 2.96 trillion. Over the past year, Adani Green generated a revenue of INR 99.16 billion and recorded a profit of INR 11.07 billion. The earnings per share is Rs.7.03.
The company also undertakes several social impact initiatives, particularly in education, healthcare, and community development.
The company adopts advanced technology to optimize the performance of its wind projects. It uses advanced software for performing wind resource assessment, project planning, and operational monitoring activities.
Headquarters: Adani Corporate House Shantigram, Near Vaishnodevi Circle, S G Highway, Ahmedabad-382421, Gujarat, India.
10. Wind World India Ltd. (WWI)
Wind World India Ltd. is a great name in the Indian renewable scenario, mainly wind energy solutions. It was established in 1994, and since then, it has been working to include better and more sustainable energy practices nationwide. The company is into developing, manufacturing, and maintaining indigenous wind turbines.
The company has successfully implemented its projects across India ie. Tamil Nadu, Rajasthan, Gujarat, Maharashtra, Andhra Pradesh, and Karnataka with 26% overall market share.
It meets technology and innovation, where e-custom wind solutions that replicate features of length and breadth from different regions and continents are used. It has a huge portfolio of building various wind farms to supply clean energy across different regions while supporting India’s transition towards renewable energy.
It is involved in environmental sustainability and community development concerning global climate change with the rest of the world. It has built an enviable reputation, over time, for reliability, efficiency, and excellence in the wind energy sector.
Headquarters: Wind World Towers, Plot No. A – 9, CTS No. 700, Veera Industrial Estate
Veera Desai Road. Andheri (West) – Mumbai 400053. INDIA
Email: wwil.marketing@windworldindia.com
Conclusion
The wind energy companies in India provide the backbone for turning the country towards its carbon-emission-free future. In fact, with the country setting up huge investments in wind energy in the coming years, these companies stand right at the top of technological innovation with sustainable development, and environmental safeguards.
With ambitious targets set for the upcoming years, the wind energy sector is prepared well to make an immense contribution toward the energy security and climate-related objectives of India, nurturing a cleaner and sustainable future for the land.
All the financial data provided in the blog is for information purposes only. Please do your research before any investment as the market prices and valuations of the companies keep changing with the share market fluctuations.
Frequently Asked Questions
Is wind power more expensive than other forms of energy?
The cost of wind power has been around 2–3 cents per kilowatt-hour, depending on how strong the wind is. Wind energy is sold at a fixed price for a long time, like 20 years, and since wind is free, it helps avoid the price changes that happen with traditional energy sources, which need fuel.
Since 2008, wind turbines have become cheaper and more efficient. Government tax incentives have also helped lower the price of wind and solar energy, making them cheaper than using natural gas in power plants. You can learn more by checking reports from the U.S. Energy Department.
