INDIA WIND SECTOR

INDIA WIND SECTOR – A MULTI-DECADAL GROWTH STORY : Large capacity targets leading to demand growth : • India targets 122 GW of installed wind capacity from 53 GW currently – provides visibility of > Rs 5 trn for wind OEMs and a large multi-year opportunity for O&M service providers • Demand from commercial & industrial (C&I) players for renewable power continues to be strong due to its green credentials and price arbitrage w.r.t. grid based / merchant power. • India’s Green Hydrogen targets of 5 mmtpa may result in incremental ~ 125 GW of RE capacity addition (solar + wind). Favorable policy environment : • GST on wind components reduced from 12% to 5% • MNRE notifies ALMM (Wind) and ALMM (Wind Turbine Components) mandating domestic sourcing of ~75-80% of WTG components including blades, towers, gearbox, generators and special bearings, as well as locating R&D, data centers & servers within India • CERC has notified amendments to connectivity and GNA regulations for ISTS, allowing hybridization of existing solar and wind transmission projects with capacity upwards of 50 MW. Domestic manufacturers:

: A market leader in wind turbine manufacturing, offering turnkey solutions from project development to lifecycle asset management. : Designs, develops, and manufactures wind turbines, focusing on low-cost and innovative technology..