
Summary:
India Ratings and Research (Ind-Ra) predicts that renewables, including large hydro, will account for 21% of India's energy mix in FY25, with the remainder coming from thermal sources. By December 2024, India’s total power generation capacity is expected to reach 462 GW, with 209.444 GW from renewables, primarily solar, driving expansion.
By 2030, renewables are forecasted to contribute 35-40% of India's energy mix, supported by hybrid solutions, round-the-clock tenders, and government backing. To achieve this, 50 GW of renewable energy must be added annually. With 174 GW of projects in the pipeline, successful execution is crucial to meeting energy targets. A stable outlook for solar and wind projects is anticipated by FY26.
Source: IBEF
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