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1. How do you view the current growth outlook for the wind energy market in India over the next five years, and how is Gentari positioning itself in this evolving landscape?
The market has slowly pivoted towards Hybrid and RTC solutions where the customers expect renewable energy beyond solar hours. As the penetration of renewable power increases; the utilities will require the developers to provide the power in a pattern that mirrors the demand from their customers.
This necessitates the coupling of wind with solar and ESS in order to deliver consistent power. The recent market projections of growth in wind installed capacity to around 90-100 GW by FY 2030 is achievable and shall be driven by a combination of policy reforms, increasing demand for hybrid renewable solutions, and the rise of corporate decarbonization goals.
At Gentari, we see this as a pivotal moment. Our strategy is aligned with India’s evolving clean energy roadmap, and wind plays a critical role in our integrated approach. We have taken significant steps in building wind capabilities: last year, we participated and won a 400 MW solar-wind hybrid bid from SJVN, and we also have other wind and hybrid wind projects currently under construction.
2. From your perspective, what are the key hurdles that wind energy developers and investors are currently grappling with in the Indian market?
Every business comes up with its unique structural challenges and wind energy is no different. Good potential wind sites are always in high demand and developers have to navigate state-specific nuances and difficult terrain to get the best sites. Repowering of the aging good-potential wind assets remains a largely untapped opportunity. That said, the government is taking steps to streamline processes and improve infrastructure. We’ve seen how solar has transformed through sustained policy and industry collaboration, and we believe wind is on a similar path of growth.
3. With the increasing push towards hybrid models, how is the integration of wind and solar shaping the broader renewable energy ecosystem in India?
The hybrid model is no longer just an upcoming trend, it’s becoming central to India’s renewable energy sector. Solar and wind are inherently complementary in terms of generation profile, and when combined with battery storage, are able to deliver a far more stable and reliable supply. This makes the model especially attractive to commercial and industrial consumers looking for round-the-clock green power.
For us at Gentari, hybrid systems are key to offering integrated energy solutions. We’re already executing projects that combine wind, solar, and storage, and we see this as the next phase of clean energy innovation in India. Not only does this improve the economics and capacity utilization, but it also addresses one of the challenges of intermittency in renewables. Over the next few months, Gentari hopes to share more on our progress in delivering hybrid projects as part of our integrated clean energy offerings.
4. Could you share how financing models and investment trends for wind projects are evolving, especially in terms of risk appetite and return expectations?
While the market has pivoted to hybrid and RTC solutions; still we find many a developer who are planning a wind-only project because the generation profile of wind is such that it provides electricity in non-solar hours and also when the exchange tariffs are high. This means that wind power is generated when the demand for electricity is high and not offset by solar.
The return expectations are higher for wind projects due to their long gestational period and implementational complexity, but the financial models nowadays have started to assume the sale of a part of electricity to the electricity exchanges. Both equity investors and lenders have increasingly shown acceptance towards this open market risk which also brings along a possibility of achieving opportunistic upsides.
5. How is Gentari leveraging its capabilities and partnerships to contribute to India’s renewable energy targets, particularly in the wind sector?
Gentari is leveraging its integrated capabilities and strong partnerships to support India’s renewable energy targets, with wind playing a key role in our strategy. We’re combining wind with solar and battery storage to offer hybrid, round-the-clock clean energy solutions. Our 400 MW solar-wind hybrid project with SJVN and the upcoming 180 MW co-located plant in Thoothukudi, Tamil Nadu reflect this approach. As we continue to develop our solar, wind, BESS as well as hybrid projects, Gentari is scaling both in capacity and reliability in India’s clean energy landscape.
