Summary:

India's renewable energy capacity addition is predicted to exceed 35 GW by 2025, thanks to a robust project pipeline, lower solar module pricing, and enhanced wind manufacturing capacity. Between April and November 2024, India added over 15 GW, more than double the 7.54 GW added during the same period the previous year. To meet the government's 500 GW target by 2030, India must install 300 GW in the next five years.

Although India's current rate of renewable energy capacity expansion is impressive, it falls short of the 60 GW annual average required to reach the 2030 target. The government's initiatives, including ultra-mega renewable energy projects, aggressive tendering strategies, and increased commercial and industrial adoption, are expected to accelerate growth. Projections for FY25 include an additional 19-21 GW, with wind energy playing a significant role. India has already reached 200 GW of capacity, more than 46% of its 500 GW target.

Source: IBEF 

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