India's Green Energy Milestone: A Step Towards Sustainable Future
Key Ideas
  • India achieves a milestone of 203.18 GW of installed renewable energy capacity, surpassing the 200 GW mark and making significant progress towards its 500 GW target for non-fossil power generation by 2070.
  • Key initiatives like the PM Surya Ghar scheme and viability gap funding for offshore wind energy projects are driving the energy transition in India, with a focus on solar and wind power.
  • Green energy is attracting over $25 billion in annual investments, with the commercial and industrial segment rapidly adopting renewable energy sources to meet sustainability goals and reduce energy costs.
  • The green energy sector in India is witnessing a surge in investments, IPOs of green power companies, and a focus on areas like green hydrogen, energy storage, and carbon capture for sustainable growth.
India has made significant strides in its green energy ambitions, surpassing the 200 GW mark with an installed renewable energy capacity of 203.18 GW. This achievement reflects more than 40% progress towards India's target of 500 GW of non-fossil power generation capacity and net zero carbon emissions by 2070. The country saw a growth in solar capacity by 30% in 2024, with increased focus on grid-connected and rooftop solar plants. The PM Surya Ghar scheme and viability gap funding for offshore wind energy projects are key policy initiatives driving the energy transition. Despite delays in signing power purchase agreements for solar projects, India's renewable energy sector attracts significant annual investments. The green energy sector is also witnessing IPOs of companies like ACME Solar Holdings Ltd and a focus on areas like green hydrogen, energy storage, and nuclear power for sustainable growth. The government's commitment to research and development in nuclear power, with a funding commitment of ₹1 trillion, highlights the country's diverse energy transition strategy.
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