India's Renewable Energy Revolution and Green Hydrogen Ambitions
Key Ideas
  • India's clean energy capacity has crossed 200 gigawatts with investments projected to double to over USD 32 billion in 2025, leading the charge in renewable energy expansion globally.
  • The country aims to achieve 500 gigawatts of renewable energy capacity by 2030, with plans to add 50 gigawatts annually and focus on domestic manufacturing of solar PV and wind turbines.
  • Challenges for 2025 include reducing the cost of green hydrogen, developing policies, and identifying demand. However, optimism surrounds the award of additional green hydrogen production capacity and pilot projects in sectors like steel and transport.
  • Key stakeholders emphasize the need for public-private partnerships, innovative approaches, and inclusive green hydrogen strategies to propel India's energy transition forward, with a focus on policy enforcement and financing support.
India has made significant strides in its renewable energy sector, surpassing 200 gigawatts of clean energy capacity and attracting investments exceeding USD 32 billion by 2025. The country is on track to quadruple its renewable capacity from 15 gigawatts in 2023 to 62 gigawatts in 2030, aiming for 500 gigawatts overall by the end of the decade. Initiatives like the PM-Surya Ghar Muft Bijli Yojana for rooftop solar installation highlight India's commitment to decarbonization and transition away from fossil fuels. Minister Pralhad Joshi's announcement of a record 24.72 gigawatts of renewable energy capacity additions in 2024 underscores the sector's growth. Challenges for 2025 include reducing green hydrogen costs, developing policies, and stimulating demand, with a focus on setting standards and certification schemes. Stakeholders stress the importance of public-private partnerships, innovation, and inclusive strategies for green hydrogen. They call for policy enforcement to drive renewable energy projects, emphasize the need for low-cost financing, and highlight the significance of transmission infrastructure for energy evacuation from renewable-rich states. The sector's positive outlook for 2025 revolves around awarding additional green hydrogen production capacity, pilot projects, and the establishment of a Centre of Excellence for green hydrogen research.
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