Renewable energy in India: 151 GW under development

Renewable energy capacity in India is growing rapidly, with 151 GW under development and another 76.42 GW expected to be operational in the next 3-4 years. Minister Pralhad Joshi emphasises the government’s focus on renewable energy.

New Delhi, July 27 (PTI) Renewable energy projects with a combined capacity of about 151 GW are at various stages of implementation in the country, Minister Pralhad Joshi said.

The Minister for New and Renewable Energy Sources added that approximately 76.42 GW of renewable energy generating capacity will be launched in the next 3-4 years.

“The government is taking several initiatives to prioritise renewable energy. Nearly 151 GW of renewable projects are being implemented and 76.42 GW will be commissioned in the next 3-4 years,” he said while addressing a session at the ‘Mercom India Renewables Summit 2024’ in the national capital on Friday.

The Minister informed that tenders for projects with a total capacity of 76.42 GW have already been completed.

Renewable energy capacity has increased more than 2.5-fold, from 76 GW in 2014 to over 195 GW by June 2024, Joshi said.

The minister added that solar power capacity has increased rapidly from just 3 GW in 2014 to over 85 GW now, while wind power capacity has increased from 21 GW to over 46 GW.

“The recent bidding trajectory has been a great initiative. If government agencies continue to exceed their targets and start mandating auctions by signing PPAs/PSAs as part of this trajectory, we will see a significant increase in installations in the coming years,” said Raj Prabhu, CEO, Mercom Capital Group.

He added that these installations have a chance for dynamic development this year, as this market is entering the next level of growth and is becoming one of the three largest solar energy markets in the world.

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