India is set to make significant strides in renewable energy capacity, aiming to connect a record 35 gigawatts (GW) of solar and wind energy to its grid by March 2025. This was announced by Bhupinder Singh Bhalla, the top bureaucrat at India’s Ministry of New and Renewable Energy, said Reuters, and is part of India’s efforts to achieve its 2030 clean energy goals after falling short of its 2022 renewables target.
Despite being the world’s third-largest solar power producer, India has recently prioritized coal to meet surging power demands, with coal-fired power output expected to outpace renewable energy generation this year. The commissioning of large solar farms has slowed, resulting in the slowest growth of solar power generation in six years during the first half of 2024.
However, the country anticipates a significant turnaround, projecting the addition of 30 GW of solar capacity and 5 GW of wind capacity in the current fiscal year. In the first five months of this fiscal year, India added 10 GW of renewable capacity, bringing its total to nearly153 GW.
To reach its 2030 target of 500 GW non-fossil power capacity, India will need to increase its annual clean capacity additions by approximately 30% compared to this year’s expected wind and solar additions. This highlights the challenges in meeting the country’s clean energy goals.
Financial institutions have pledged $386 billion in funding for renewable projects by 2030, while clean energy developers have committed to boost India’s non-fossil capacity by 570 GW. Major conglomerates such as Reliance Industries and Adani Green Energy have also made substantial commitments, with Reliance pledging 100 GW and Adani committing to 38.8 GW of additional renewable capacity by 2030.
These developments underscore India’s renewed focus on accelerating its transition to clean energy
