India’s renewable energy sector is witnessing unprecedented growth, firmly positioning the country as a global leader in sustainable energy. In line with the ‘Panchamrit’ goals set by Prime Minister Narendra Modi, India’s Ministry of New and Renewable Energy (MNRE) recently released data highlighting substantial advancements achieved from October 2023 to October 2024. This report delves into these achievements, reflecting the strategic commitment and visionary policies driving the country’s clean energy transformation.
A Significant Leap in Renewable Capacity
The year saw an impressive surge in India’s renewable energy capacity, with an additional 24.2 GW bringing the total to 203.18 GW, marking a 13.5% increase. In tandem, the nation’s non-fossil fuel capacity, which includes nuclear energy, reached 211.36 GW, compared to 186.46 GW in October 2023. These developments are a testament to India’s unwavering focus on its renewable energy targets, contributing significantly to global efforts against climate change.
Key Milestone:
• Renewable Energy Capacity (Oct 2024): 203.18 GW
• Non-Fossil Fuel Capacity (Oct 2024): 211.36 GW
Solar Power: Leading the Charge
Solar power, the cornerstone of India’s renewable energy portfolio, experienced a remarkable expansion. Between October 2023 and October 2024, the sector added 20.1 GW, reflecting a 27.9% growth. The cumulative solar capacity, including projects in development and those tendered, stands at a monumental 250.57 GW, up from 166.49 GW last year. This surge not only underscores the efficacy of government incentives and policy support but also highlights the private sector’s proactive role in advancing solar infrastructure across the country.
Solar Power Growth:
• Installed Capacity (Oct 2024): 92.12 GW
• Cumulative Solar Projects (2024): 250.57 GW
Wind Energy: A Steady Contributor
While solar power recorded substantial growth, wind energy has also shown consistent progress. As of October 2024, wind energy capacity rose by 7.8% to 47.72 GW, with a robust pipeline of 72.35 GW in upcoming projects. Wind power remains a crucial component of India’s renewable energy landscape, particularly given its potential to complement solar power in hybrid projects that ensure a balanced energy supply throughout the day.
Wind Power Growth:
• Installed Capacity (Oct 2024): 47.72 GW
• Upcoming Projects (Pipeline, 2024): 72.35 GW
Capacity Additions: Driving the Green Momentum
India’s renewable energy capacity additions from April to October 2024 totaled 12.6 GW, a strong indicator of the country’s accelerated shift toward green energy. October alone witnessed the installation of 1.72 GW of renewable energy capacity, exemplifying the fast-paced growth trajectory and the efficiency of India’s implementation framework. Notably, renewable energy projects under implementation surged from 99.08 GW in 2023 to 143.94 GW in 2024, with tendered projects also showing a marked increase from 55.13 GW to 89.69 GW.
Project Expansion:
• Projects Under Implementation (Oct 2024): 143.94 GW
• Projects Tendered (Oct 2024): 89.69 GW
Strengthening the Energy Mix: Hydro and Nuclear Contributions
Large hydroelectric and nuclear power projects are pivotal in enhancing the resilience and stability of India’s renewable energy ecosystem. As of October 2024, large hydro projects contribute 46.93 GW, while nuclear power stands at 8.18 GW. These sources diversify the energy mix, offering a consistent supply to balance the intermittency of solar and wind power.
Hydro and Nuclear Contributions:
• Large Hydro Projects: 46.93 GW
• Nuclear Power: 8.18 GW
Implications for India’s Sustainable Future
The current expansion in renewable energy infrastructure reflects India’s resolve in addressing climate change and achieving energy security. The diversity of sources—solar, wind, hydro, and nuclear—creates a balanced and resilient energy mix that supports both environmental goals and economic development. Notably, this transformation aligns with India’s commitment under the Paris Agreement and fortifies the country’s leadership role in global renewable energy discourse.
Conclusion: Toward a Greener Tomorrow
India’s renewable energy journey is not just a story of megawatts and gigawatts; it’s a narrative of visionary policies, private sector dynamism, and a commitment to sustainable development. The substantial progress over the past year underscores the country’s readiness to meet its ambitious clean energy goals and foster a low-carbon economy. For stakeholders, this is an inspiring example of how policy support, technological advancement, and strategic investment can drive significant results in the renewable sector. As India continues to expand its renewable energy portfolio, it stands as a beacon of sustainable development, inspiring other nations in the global fight against climate change.
Shiva Consultancy Group
Empowering Sustainable Solutions for a Greener Tomorrow