With this, Suzlon has gained a market share of 35 per cent despite an extremely challenging year for the sector and several hurdles due to the transition from feed-in-tariff (FiT) to bidding regime, a Suzlon statement said.
As as result (of introduction of bidding regime), the overall wind industry installations plummeted to 1,766 MW in FY'18 (32 per cent of FY17 installations) due to stagnant volumes, uncertainty on power purchase agreements (PPAs) and policy environment, it added.
J P Chalasani, Group CEO, Suzlon Group said, We have achieved this excellence despite a challenging year for the industry owing to the transition from feed-in-tariff (FiT) to the competitive bidding regime. We thank our team, 1,800+ customers, lenders, and vendor partners for their unwavering support."
He further said,"FY'19 would be the start of a high volumes market with central and state-level auctions in India. The sector will witness exponential growth with ~10-12 GW volumes each year. There is a clear visibility of volumes even before the start of FY'19. Suzlon is well positioned to reap the benefits in this new business regime .
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