According to the latest data from India’s Ministry of New Renewable Energy (MNRE), India’s total installed renewable energy capacity has grown by a staggering 24.2GW, or 13.5%, in one year, from 178.98GW in October 2023 to 203.18GW in October 2024.
In October 2024, India’s renewable energy generation reached a new high of 203.18GW, with an annual growth rate of 13.5%. This growth was led by the solar sector, which reached 92.12GW in October 2024, representing an annual growth rate of 27.9%.
This significant growth is in line with India’s ambitious targets in the renewable energy sector, in line with the “Panchamrit” target set by Modi that total installed capacity of non-fossil fuels, including nuclear, will increase from 186.46GW in 2023 to 211.36GW in 2024.
The solar industry grew significantly by 20.1GW (27.9%), from 72.02GW in October 2023 to 92.12GW in October 2024. Total installed solar capacity, including projects under implementation and tendering, now stands at 250.57GW, a significant increase from 166.49GW last year.
Wind energy also saw steady growth, with installed capacity increasing by 7.8%, from 44.29GW of completed capacity in October 2023 to 47.72GW in 2024. The total installed capacity of planned stroke power projects has now reached 72.35GW.
Pralhad Joshi, India’s minister of New renewable Energy, said in a post on X: “Over the past year, solar power generation has surged by 28 per cent and wind power by nearly 8 per cent. This significant growth is a testament to our commitment to sustainability and clean energy.
From April to October 2024, India added 12.6GW of new renewable energy capacity. In October 2024 alone, 1.72GW was installed.
The number of renewable energy projects being implemented and tendered has increased significantly, with 143.94GW of renewable energy projects being implemented and 89.69 GW of renewable energy projects tendered as of October 2024. This is a significant increase compared to 99.08GW of renewable energy projects under implementation and 55.13GW of renewable energy projects under tender in October 2023, indicating continued progress towards India’s clean energy targets.
As of October 2024, large hydropower projects contributed 46.93GW to India’s renewable energy portfolio, while nuclear capacity contributed 8.18GW. These contributions enhance the diversity and resilience of India’s renewable energy mix and support the country’s full green energy transition.
Post time: Dec-10-2024