Vestas to stretch it arms in Indian wind energy space as the market improves: Report

Earlier reports hovering around suggested that Denmark based turbine manufacturer thinks India is not as profitable a market and it stopped taking on new orders because of it. turbine manufacturers including the domestic players said that the tariffs reached in Indian wind auctions are too aggressive and the margins too low.

Now it seems that the Indian environment has turned conducive for the Denmark based firm and its all set to stretch it arms in the space.

Vickram Jadhav, Vice President of Sales for India speaking to ET said that is keen to expand its footprint in India despite having gone through a difficult phase in the country.

He said the business environment in the sector was improving. “The whole industry had not priced in the cost very well, it had not accounted for delays etc. We were recalibrating but now we are back in a more supportive ecosystem where customers and policy makers understand what these costs are.”

In last two year the firm installed 1GW of turbines and Vestas had a lot of learning from it,said Jadhav.

Speaking to the publication he elaborated “For example, earlier, wind projects were supposed to be built within 18 months from the Letter of Award (issuance). Now it’s changed to 24 months. Lots of such small things have happened which now make our participation more attractive.” However, the company did not reveal how many projects it has in the pipeline.