Summary:

In July, India added 1,733.7 megawatts of solar power, raising the total installed capacity to 87.2 GW. This fiscal year, 5,394 MW were added, bringing the total for FY24 to approximately 15 GW.

India aims to add 30-35 GW of renewable energy capacity in FY25, potentially setting a record with accelerated progress due to increased auctions and equipment availability. Nodal agencies plan to auction 50 GW this fiscal year, following the trend set in FY24. To meet its 500 GW target by 2030, India needs to install 44 GW annually, requiring an investment of US$ 190-215 billion over seven years. Moody's Ratings highlights renewable energy as a key investment driver.

As of July, India had 67.5 GW of ground-mounted solar capacity and 13.4 GW of rooftop solar. In July, wind capacity increased by 419.06 MW, reaching a total of 47.07 GW.

Source: IBEF

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