India adds 24.2GW RE capacity over the past year

New Delhi: India’s renewable energy sector has experienced a robust expansion over the past year, according to data released by the Ministry of New and Renewable Energy (MNRE). The country’s total installed renewable energy capacity surged by 24.2 gigawatts (GW), a 13.5 percent increase from October 2023 to October 2024, reaching 203.18 GW as of October 2024, up from 178.98 GW in the same period last year.

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In addition to the growth in renewable energy, India’s total non-fossil fuel capacity, which includes nuclear energy, rose to 211.36 GW in 2024, a significant increase from 186.46 GW in 2023.

Solar and Wind Energy Lead the Growth

Solar energy emerged as a major contributor to the sector's growth, with an impressive increase of 20.1 GW, marking a 27.9 percent rise from the previous year. The total installed solar capacity reached 92.12 GW as of October 2024, compared to 72.02 GW in October 2023. Including projects currently under implementation and those tendered, the solar sector's combined capacity now stands at 250.57 GW, up substantially from 166.49 GW the previous year.

Wind energy also showed steady progress, with an increase of 7.8 percent in installed capacity, rising from 44.29 GW in October 2023 to 47.72 GW in October 2024. The total pipeline for wind projects, comprising both projects under implementation and those tendered, has now reached 72.35 GW, signifying continued interest and investment in this segment.

Hydropower and Nuclear Energy Contributions

The MNRE report also highlights the contributions of large hydro and nuclear power to India's renewable portfolio. As of October 2024, large hydropower projects contributed 46.93 GW, while nuclear power capacity reached 8.18 GW.

India added 12.6 GW of renewable energy capacity from October 2023 to October 2024. Notably, October 2024 alone saw 1.72 GW of new installations, showcasing the country's accelerating shift towards renewable sources. The number of renewable projects under implementation and those that have been tendered also showed a marked increase, with 143.94 GW under implementation and 89.69 GW tendered as of October 2024. This is a notable rise from the 99.08 GW under implementation and 55.13 GW tendered as of October 2023, signaling a consistent pipeline of future renewable energy capacity.

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