Renewable Energy In India

Govt must double renewable capacity additions to meet 2030 energy targets

The country has set a target to achieve at least 500 GW of non-fossil power capacity by 2030

IEW 2025 : India on track to meet 2030 energy goals, says PM Modi

India will reach 20 per cent ethanol blending by October, Modi said

India calls for 'energy transition', sees role of fossil fuels in near term

Calling for a nuanced understanding on 'energy transition', India on Tuesday said the shift from polluting fossil fuels to cleaner sources should be just where affordable energy is available to meet needs of developing nations. Speaking at the inaugural session of India Energy Week, Oil Minister Hardeep Singh Puri said energy transition "is not outright replacement (of any fuel) but more shifting the primacy of one energy source over another." Developing nations like India meet most of the energy demand from fossil fuels such as coal, oil and natural gas. While there is a call to shift from the polluting sources to renewables, India feels that move cannot be abrupt, with oil and gas as well as coal continuing to meet energy demand in the period when the cleaner sources are scaled up. "The very notion of 'energy transition' requires a nuanced understanding. It is not outright replacement, but more shifting the primacy of one energy source over another," he said. "The transition isn'

Green transition: Expectations and recommendations for Budget 2025

It is important for India to establish a coherent and comprehensive tax framework which will incentivise green investment and support the renewable energy value chain among other measures

EcoZen raises $23 mn from Northern Arc Capital, responsAbility, others

Climate-smart technology solutions provider Ecozen on Wednesday said it has raised over USD 23 million in debt funding from a bunch of investors including Zurich-based responsAbility Investments AG, Northern Arc Capital and Maanaveeya Development & Finance, among others. This investment will be utilised for scaling the company's flagship solutions, including Ecotron, Ecofrost, and advanced motor control systems, Ecozen said. Ecozen's product portfolio includes solar pump controllers and solar cold storage rooms as well as e-bike controllers for a range of industries and needs. "This (USD 23 million) funding reaffirms the confidence our partners have in Ecozen's ability to drive impactful change through innovation. We are excited to be on a rapid growth path, driven by the increasing need for sustainable, climate-smart solutions," said Devendra Gupta, CEO and Co-Founder of Ecozen. The company said it is clocking a CAGR of over 83 per cent in revenue growth over the past three years

India adds about 30 GW renewable capacity in 2024, 113% higher than 2023

India logged a record high renewable energy capacity addition of about 30 GW in 2024, more than 113 per cent higher than 13.75 GW recorded in 2023, according to the Ministry of New & Renewable Energy data. This assumes significance in view of India's ambitious plan to have 500 GW of renewable energy capacity in the country by 2030. Besides, India needs to add an average of 50 GW of renewable energy capacity per annum over the next six years to achieve its target. "Exponential growth from 13.75 GW in 2023 to around 30 GW in 2024, resulting in achieving nearly 218 GW now underscores India's growing commitment to clean energy and its progress in building a greener future," New & Renewable Energy Minister Pralhad Joshi said in a post on X. According to the ministry data, India had 35.84 GW of renewable energy capacity as of March 31, 2014. Since the fiscal year 2014-15, when the NDA government took the reins at the Centre, India recorded the highest renewable capacity addition of .

India has clean energy capacity over 200 GW; investments to double in 2025

As barren arid land gets covered with solar panels and giant windmills dot the coastline, India made it to the high table of clean energy superpowers with installed capacity crossing 200 gigawatts and projections of investment doubling to over USD 32 billion in 2025. According to the International Energy Agency, India's annual renewable capacity additions through 2030 are expected to increase more quickly than any other major economy, including China. It seeks India's capacity addition more than quadrupling from 15 GW in 2023 to 62 GW in 2030. By the end of 2024, its installed capacity touched 205 GW. Alongside, domestic solar PV and wind turbine manufacturing is being scaled up as part of the broader commitment to decarbonise and shift away from fossil fuels. India, which has set 2070 as the target for Net Zero, is aiming 500 GW of renewable energy capacity by 2030. To achieve this it is looking to add 50 GW of renewable energy (RE) capacity annually. Talking to PTI, Union New & .

Inox Wind secures 60 MW equipment supply order from Serentica Renewables

Inox Wind (IWL) on Wednesday said it has secured a 60 MW equipment supply order from Serentica Renewables. This order is for the supply of 3 MW class wind turbines. This order is to be delivered within H1 CY25 and it will be installed at the hybrid renewable energy project site being developed by Serentica Renewables in Karnataka, the company said in a statement. Additionally, IWL will provide multi-year post-commissioning Operations & Maintenance (O&M). The power generated from this project will be supplied to Serentica's partners, including the Vedanta Group. Kailash Tarachandani, Group CEO, Inox Wind said in the statement, "We are extremely pleased to establish our relationship with Serentica with this 60 MW equipment supply order. Akshay Hiranandani, CEO of Serentica Renewables, said, "Our collaboration with Inox Wind for this 60 MW wind project in Karnataka marks another significant milestone in our journey to deliver reliable and green energy to our partners, including .

India's RE capacity addition doubled to 15 GW in Apr-Nov: Pralhad Joshi

India's renewable energy capacity addition almost doubled to 15GW during the April-November period of this fiscal compared a year ago, indicating India's commitment towards the target of 500GW non-fossil capacity by 2030, Union New & Renewable Energy Minister Pralhad Joshi said on Tuesday. Addressing at CII International Energy Conference & Exhibition 2024 here, Joshi said, "In fact, over the past decade, under the visionary leadership of Prime Minister Narendra Modi, India has charted an extraordinary path in the renewable energy sector. Today, India is one of the world's most promising nations in the clean energy space." Between April-November of the current financial year, India added almost 15 GW of renewable energy capacity, nearly double the 7.54 GW added during the same period last year, he said. At present, India's total installed capacity of the non-fossil fuel sector has touched 214 GW, over 14 per cent increase compared to the same month last year. The government is

Hyundai Motor India to set up 2 renewable energy plants at Chennai facility

Hyundai Motor India Ltd (HMIL) on Thursday said it will set up two renewable energy plants at its vehicle manufacturing unit in Tamil Nadu as part of the company's move to transition to 100 per cent renewable electricity across manufacturing operations by 2025. The company has signed a power purchase and shareholder agreement with Fourth Partner Energy Ltd (FPEL) for the purpose of setting up of a 75 MW solar plant and a 43 MW wind power plant to cater to its renewable energy requirements, Hyundai Motor India Ltd (HMIL) said in a statement. These facilities will operate under a group captive mode with a special purpose vehicle (SPV) formed for engineering, procurement, construction, operations and maintenance. HMIL will hold 26 per cent and FPEL will hold 74 per cent equity stake in the project, it added. This long-term agreement will ensure a 25-year supply of renewable energy to HMIL, the company said. "As part of this partnership, HMIL will invest Rs 38 crore towards setting up

India's renewable energy capacity to touch 250 GW mark by March 2026: Icra

Domestic renewable energy capacity is expected to reach the 250 GW level by March 2026, Icra said on Tuesday. The capacity addition will be driven by the large project pipeline of over 80 GW, following the significant improvement in tendering activity in FY2024, the rating agency said. In a note, Icra said it expects the installed renewable energy capacity, including large hydro projects, in India to increase to about 250 GW by March 2026 from the level of 201 GW as of September 2024. "We expect the rooftop solar segment and the commercial & industrial (C&I) segments to contribute significantly to the capacity addition. Nevertheless, challenges remain on the execution front with respect to delays in land acquisition and transmission connectivity, which, if sustained, could hamper the sector's prospects," Girishkumar Kadam, Senior Vice President & Co-Group Head - Corporate Ratings at Icra, said. ICRA expects the energy storage capacity requirement at 50 GW by 2030, which ...

India's renewable energy capacity rises 13.5% to 203 GW in October

India's total renewable energy capacity increased by 13.5 per cent or 24.2 GW in a year to reach at 203.18 GW in October 2024 from 178.98 GW in October 2023, an official statement said This rise aligns with India's ambitious targets in the field of RE sector, a statement by New and Renewable Energy Ministry said. Including nuclear energy, the total non-fossil fuel capacity rose to 211.36 GW in 2024, compared to 186.46 GW in 2023, it stated. According to the statement, the solar sector saw a remarkable increase of 20.1 GW (27.9 per cent), growing from 72.02 GW in October 2023 to 92.12 GW in October 2024. The combined total solar capacity, including projects under implementation and tendered, now stands at 250.57 GW, a significant rise from 166.49 GW last year. Wind energy also demonstrated steady growth, with installed capacity increasing by 7.8 per cent, from 44.29 GW in October 2023 to 47.72 GW in 2024. Total capacity in the pipeline for wind projects has now reached 72.35 GW.

Significant growth opportunity for renewables sector in India: SEforALL

There is significant growth opportunity for renewable energy sector in India, as the country's growing energy demand along with rapid industrialization needs all resources of energy, including solar and wind, according to an international sustainable development agency in Vienna. The Indian government has shown both a deep as well as a continued commitment to renewable energy, said Kanika Chawla, Director and Chief of Staff at Sustainable Energy For All' (SEforALL). Speaking to PTI on the sidelines of Singapore International Energy Week held in October 21-25, Chawla said there is more manufacturing (renewable energy) happening within India which also improves security and reduces import dependence. "India is using policies like performance-linked incentives for manufacturing. All this is very laudable and brings energy economic prosperity to the people," she noted. Chawla also acknowledged that clean energy solutions are quite job intensive as every kWh of RE generates three times

Jakson Green nears $476 mn fundraise for renewables capacity expansion

A growing number of Indian companies are expanding their renewable energy capacity and raising funds as the government aims to add at least 500 GW of clean energy by 2030 to reduce emissions

Thermal capacities needed till RE supply equals demand: Power minister

There is a need to continue with installation of new thermal capacities as the supply of green power is not in line with demand, Union Minister Manohar Lal said on Monday. He also said that any call on reducing installation of thermal capacities can only be taken after 2030. The union power minister made the remarks at an event to brief 100-day achievements of the Modi-3.0 government in the national capital. "Till the supply of renewable energy does not matches the demand, it seems necessary to increase the capacity of thermal plant in the country, and reduce its installation gradually. But till 2030-35, We have to take these (thermal projects) ahead," Lal said. The government is looking to set up an additional 80 GW coal-based capacity by 2031-32. According to Power Secretary Pankaj Agarwal, in 100 days of the present government, 12800 MW or 12.8 GW capacity has been awarded for construction, while 28 GW is under progress. The minister further said that the National Electricity

Over Rs 3 trn needed each year to reach 440 GW RE capacity by 2030: ICRA

An investment of over Rs 3 lakh crore is needed every year in the renewable energy sector to take India's installed green capacity to 440 gigawatt, Icra experts said on Friday. "We expect India to have 440 gigawatt installed capacity of renewable energy by 2030," Vikram V, Vice President & Co-Group Head - Corporate Ratings, ICRA Ltd said at a media roundtable. The estimated capacity would require incremental investment of at least Rs 3 lakh crore every year over the next five to six years, Girish Kumar Kadam, Group Head Corporate Sector Ratings at ICRA Ltd. He further said to meet the renewable purchase obligation (RPO) target of 43 per cent by 2030, the renewable energy capacity should more than double to 440 GW from the current level of 200 GW. The government's target is to have 500 gigawatt of installed renewable energy capacity by 2030. Sharing his outlook for the RE sector, Kadam said India has made significant progress in renewable energy capacity addition with a strong ...

PM inaugurates 4th Global Renewable Energy Investor's Meet in Gandhinagar

The three-day conference is anticipated to draw over 10,000 delegates, including influential figures from government, industry, and financial sectors

India's renewable energy sector fuels hiring boom in race to net-zero goal

The renewable energy sector has experienced a remarkable surge in jobs, with a staggering 23.7 per cent increase in FY24, compared to 8.5 per cent in FY23

BC Jindal Group enters renewable energy sector with $2.5 bn investment

BC Jindal Group on Thursday announced its foray into India's renewable energy sector, with a plan to invest USD 2.5 billion in the next five years. With an existing portfolio of 1,200 MW thermal power generation in Angul, Odisha, BC Jindal Group has floated a dedicated entity to hold the renewable venture of the group, a statement said. The group plans to invest around USD 2.5 billion in the renewable energy sector, in the next 5 years, the statement added. BC Jindal Group, India's leading conglomerate, with over Rs 18,000 crore turnover, will oversee the renewable power generation and solar cells and module manufacturing businesses. Jindal India Renewable Energy (JIRE) aims to generate 5 GW of power from solar, wind, hybrid and FDRE modes, to uphold responsible environmental care while achieving decarbonisation, it stated. Along with this, JIRE will also manufacture PV Cells and Modules to tap into the solar demand. Punit Gupta, Executive Director, JIRE, said, "To address India'

'Scaling up not a challenge for us anymore' : Waaree Renewable Tech CFO

Order book at 2.1 GW for next 9-12 months, bidding pipeline at 15 GW for solar EPC major