India’s Renewable Energy Sector Achieves Significant Growth

The Ministry of New and Renewable Energy (MNRE) has released its latest data, highlighting substantial growth in India’s renewable energy sector from October 2023 to October 2024. This progress underscores India’s commitment to achieving its clean energy targets in line with the ‘Panchamrit’ goals set by Prime Minister Shri Narendra Modi.

India’s total renewable energy installed capacity increased by a staggering 24.2 GW (13.5%) in a year, reaching 203.18 GW in October 2024 from 178.98 GW in October 2023. This significant rise aligns with India’s ambitious targets in the field of RE sector. Including nuclear energy, the total non-fossil fuel capacity rose to 211.36 GW in 2024, compared to 186.46 GW in 2023.

Solar and Wind Power Surge

• Solar Power: The solar sector saw a remarkable increase of 20.1 GW (27.9%), 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 Power: Wind energy also demonstrated steady growth, with installed capacity increasing by 7.8%, 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.

Capacity Additions

From April to October 2024, India added 12.6 GW of renewable energy capacity. In October 2024 alone, 1.72 GW was installed, marking an accelerated shift towards renewable energy.

The renewable energy projects under implementation and tendered saw significant expansion, with 143.94 GW under implementation and 89.69 GW tendered as of October 2024. This is a notable increase from 99.08 GW under implementation and 55.13 GW tendered as of October 2023, ensuring consistent progress towards India’s clean energy targets.

Hydro and Nuclear Contributions

As of October 2024, large hydro projects contributed 46.93 GW to India’s renewable portfolio, while nuclear power capacity contributed 8.18 GW. These contributions strengthen the diversity and resilience of India’s renewable energy mix, supporting the country’s comprehensive approach to green energy transition.