India Will Install 3,000 MW Wind Power This Year, Up 39% From 2010

India's making some good progress in wind power: According the HSBC Global Research (via Business Standard), India is on track to install 2,984 MW of new wind power in 2011 -- an increase of 39% over last year's installations.

Currently, based on figures from the end of August, India has just about 15,000 MW of wind power installed.

According to the World Wind Energy Association, based on data going to June 2011, India was in the number-five position for installed wind power capacity. China led the world (52.8 GW), with the US in second place (42.3 GW), Germany in third (27.9 GW), and Spain in fourth (21.2 GW).

HSBC Global Research forecasts that strong, if a bit slower, growth will continue in India's wind power market in the coming years -- 2400 MW in 2012, increasing to 2700 MW in 2015.

As for the reason for this growth, the report notes, "the key drivers for growth are primarily a strong policy framework and improving cost competitiveness of wind technology compared to conventional generation."

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