Highlights:

  • Solar energy takes the lead in the RE sector, with a total installed capacity of 81.81 GW, followed by wind energy at around 46 GW.

  • In FY 2023-24, India’s renewable energy capacity reached 18.48 GW, a 21% increase from the previous year’s 15.27 GW, according to MNRE.

In the financial year 2023-24, India achieved a remarkable milestone by increasing its renewable energy capacity to 18.48 GW, marking a growth of over 21 percent compared to the previous year’s 15.27 GW, as reported by the MNRE.

However, industry experts emphasize the necessity of adding a minimum of 50 GW of RE capacity each year for the next six years to achieve the ambitious target of 500 GW of renewables by 2030

Besides, the MNRE is also targeting bidding of around 50 GW of renewable energy projects per annum to meet the ambitious target of 500 GW.

As of March 31, 2024, India’s installed renewable energy capacity, excluding large hydropower projects, reaches 143.64 GW. However, with the inclusion of hydro projects, the total RE capacity surges to approximately 190 GW.

India needs to add 310 GW within the next six years to achieve the target, requiring an average of 50 GW per year.

Solar energy takes the lead in the renewable energy sector, with a total installed capacity of 81.81 GW, followed by wind energy at around 46 GW.

Gujarat and Rajasthan emerge as states with the largest renewable energy capacities, each boasting around 27 GW, followed by Tamil Nadu at about 22 GW, Karnataka at about 21 GW, and Maharashtra at about 17 GW.

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Resource: Business Standard

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