Growth in Renewable Energy Capacity
The Ministry of New and Renewable Energy (MNRE) recently reported substantial growth in India’s renewable energy sector from October 2023 to October 2024. This progress highlights India’s dedication to its clean energy targets and commitment to the “Panchamrit” goals set forth by Prime Minister Narendra Modi.
Growth in Renewable Energy Capacity
India’s total installed renewable energy capacity saw an impressive increase of 24.2 GW, a 13.5% jump from 178.98 GW in October 2023 to 203.18 GW in October 2024. This growth reflects India’s ambitious targets within the renewable energy sector. Including nuclear energy, the country’s non-fossil fuel capacity reached 211.36 GW in 2024, compared to 186.46 GW in the previous year.
Solar and Wind Power Expansion
Solar Power: Solar energy witnessed a notable boost with an increase of 20.1 GW, marking a 27.9% rise from 72.02 GW in October 2023 to 92.12 GW in October 2024. The combined total for solar projects, including those under implementation and in the tendering phase, now totals 250.57 GW, a major jump from last year’s 166.49 GW.
Wind Power: Wind energy also showed steady growth, with installed capacity increasing by 7.8%, from 44.29 GW in October 2023 to 47.72 GW in 2024. The total capacity for wind projects in the pipeline now stands at 72.35 GW, underscoring the sector’s growth trajectory.
Capacity Additions and Project Pipeline
From April to October 2024, India added 12.6 GW of renewable energy capacity. Notably, October alone contributed 1.72 GW, underscoring an accelerated transition to renewable energy. By October 2024, the total renewable energy capacity under implementation and tendering reached 143.94 GW and 89.69 GW, respectively, a significant increase from 99.08 GW and 55.13 GW the previous year.
Contributions from Hydro and Nuclear Energy
Large hydro projects contributed 46.93 GW to India’s renewable portfolio as of October 2024, while nuclear power contributed 8.18 GW. Together, these resources enhance the diversity of India’s clean energy mix, supporting a balanced and resilient energy transition.
India’s ongoing strides in renewable energy reflect its commitment to achieving ambitious clean energy goals and reducing its reliance on fossil fuels. This year’s progress not only positions India as a global leader in renewable energy but also underscores the country’s commitment to a sustainable future.
