US-based wind turbine and blade manufacturer GE Vernova to double down on India biz
wind turbine and blade manufacturer GE Vernova is looking to double its India business to 10 GW by 2030 buoyed by flourishing demand for renewable power generation solutions, a senior company executive told ET.
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The target reflects a sharp acceleration from the 12 years the company took to reach 5 GW capacity in India.
“India is a strategic market for Vernova, and as the industry gets bigger and the demand gets larger, we're looking to double our 5GW to 10 GW in the next five years,” said Deepak Maloo, regional leader, APAC & India, onshore wind at GE Vernova.
The company has manufacturing facilities at Chakan in Pune and Halol in Gujarat as well as a technology centre in Bengaluru. It has 10,000 employees including 1,600 engineers in India.
“In the wind business, we're reaching our historical milestone with 5 GW this March. It's a fantastic journey that puts us close to 12% of the market share. Last three years in a row, we have installed 1 GW a year on the grid,” said Maloo, adding that one out of three wind turbines getting installed in India belong to GE Vernova.
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