Renewable energy sector employed 4.3 lakh Indians in 2017 On the...

    Renewable energy sector employed 4.3 lakh Indians in 2017

    On the back of India’s gradual transition towards green energy and positive policy reworks which is enabling foreign investors to establish renewable energy-based power generation projects and collaborate with Indian firms on financial and technical levels - the Renewable energy sector in India is witnessing steady growth.

    India’s renewable energy sector is emerging as a driving force for new job creation in the country. In 2017, around 4.32 lakh people were employed in the renewable energy sector (India Spend report), which is an increase of 12 percent from 2016 if large hydropower projects are excluded.

    To achieve commitments made during the Paris Climate Agreement 2015, India has been gradually increasing the number of renewable energy projects. This has lead to the creation of 47,000 new jobs, accounting for over 20 percent of the 5 lakh new green jobs created globally in 2017.

    Wind Energy

    At the recently concluded ‘Global Wind Day’ celebrations, chairman and managing director of Suzlon Group and chairman of Indian Wind Turbine Manufacturers Association (IWTMA), Tulsi Tanti stated, that the wind energy sector will provide two million new jobs by 2022.

    India has a manufacturing capacity of 12 GW, and wants to increase it to 25 GW by 2022, Tulsi stated. High margins in exports coupled with increasing domestic demand would enable this, the chairman IWTMA said, citing the fact that top five manufacturers in the wind space, globally, are already here in India and have started their manufacturing capacities.

    India’s growth in the wind energy sector is impressive. Projects of 7 Gw installed capacity have already been bid out, while projects of 11 Gw are in the pipeline for FY19. “In the next financial year, minimum 1 Gw installation will happen every month, so as to have the 12 Gw visibility. Based on that, for the next five years, India will have 50 to 60 Gw of wind capacity,” Tulsi said.