You Are Here: Home » News » Suzlon Loses Top Spot in India Wind Market Installations

Suzlon Loses Top Spot in India Wind Market Installations

Suzlon Loses Top Spot in India Wind Market Installations

Suzlon Energy Ltd. Has ceded its position as India’s top wind-turbine supplier in the year ended March 31 for the first time in at least a decade, according to figures from an industry group.

Wind World (India) Ltd., formerly known as Enercon (India) Ltd., took the top spot after installing 454 MW of turbine capacity last fiscal year, according to data from the Indian Wind Turbine Manufacturers’ Association. Suzlon trailed with 415 MW of installations, while ReGen Powertech Pvt. was third with 273 MW.

“The rankings offered a number of surprises as new market entrants pushed aside incumbents,” said Shantanu Jaiswal, a New Delhi-based wind analyst for Bloomberg New Energy Finance.

General Electric Co.’s installations surged more than sixfold to 122 MW, the biggest jump among the companies surveyed, according to the IWTMA data. The company’s gain in orders may indicate a shift in customer preferences as GE sells turbines alone in contrast to competitors who include land acquisition and permitting as part of supply deals. GE won orders from developers such as Greenko Group Plc that are separating project development from turbine orders to improve returns.

Suzlon, which committed India’s biggest convertible bond default in October, reported difficulties in carrying out orders due to a lack of working capital in the past three quarters. The company completed a 95 billion-rupee ($1.8 billion) debt reorganization plan last month that will allow it to execute $7 billion of orders, Group Chief Financial Officer Kirti Vagadia said in an April 23 statement. The company’s performance last year was hampered by its debt problems and by the suspension of two government incentives, though the company is confident of regaining market leadership in their home market.

Vestas Wind Systems A/S, which tied with GE as the world’s biggest turbine maker, posted an 87 percent drop in installations to 34 MW, IWTMA figures showed. The Danish manufacturer, one of the first to enter the Indian market more than 25 years ago, focused on bigger, more profitable markets elsewhere.

In total, India wind installations dropped 47 percent on year to 1.7 GW of wind capacity after the expiry of government incentives, according to IWTMA figures. Globally, a record 48.4 GW of new wind capacity was added in 2012, according to BNEF. A tax incentive drove a record 13.6 GW of installations in the U.S., where GE commissioned 96 percent of its turbines and Vestas sold 40 percent. The U.S. was Vestas’ biggest market.

 

Leave a Comment

© 2019 POWER INSIDER PUBLISHING & EVENTS LIMITED - ALL RIGHTS RESERVED

Scroll to top