India is embarking on a remarkable transformation of its energy sector, driven by ambitious plans for renewable energy expansion. The country’s minister for New and Renewable Energy, Pralhad Joshi, recently highlighted notable progress at the 5th CII International Energy Conference and Exhibition held in New Delhi, where he presented India's detailed roadmap toward becoming the renewable energy capital of the world.
According to Joshi, India’s renewable energy capacity addition has seen significant growth, nearly doubling to 15 GW during the April to November period of the current fiscal year, compared to the same timeframe last year. This reflects the nation's commitment to achieving its ambitious target of 500 GW of non-fossil fuel-based capacity by 2030. "Today, India is one of the world's most promising nations in the clean energy space," Joshi stated, emphasizing the integral role Prime Minister Narendra Modi has played in steering this progress.
The total installed capacity of the non-fossil fuel energy sector has now surged to 214 GW, marking over 14 percent growth compared to last year. Notably, India added 2.3 GW of new renewable energy capacity just last month—a four-fold increase from 566 MW registered the same month the previous year. This surge supports Joshi's assertion: "This transformation is not just a dream; it is happening today."
Further solidifying India's renewable energy potential is the support of significant government initiatives, including the Production-Linked Incentive (PLI) scheme, which aims to bolster domestic manufacturing of solar panels and modules with an investment of ₹24,000 crore. Joshi also outlined plans to establish 50 solar parks with a cumulative capacity of 38 GW by 2025-26 and the PM Surya Ghar Muft Bijli Yojana targeting 1 crore solar rooftop installations by 2026-27, backed by ₹75,021 crore.
On the green hydrogen front, the National Green Hydrogen Mission is also making headway. Under the SIGHT Programme, the government is set to invest ₹17,490 crore to support electrolyser manufacturing and green hydrogen production. Joshi remarked on the successful completion of two bidding rounds under this mission, driving the allocation of substantial capacities for electrolyser manufacturing and green hydrogen production, positioning India well for leadership in this emergent sector.
With long-term energy aspirations linked closely to national development goals, Joshi noted, “Achieving Viksit Bharat by 2047 is intrinsically linked to sustainable and green growth.” This statement underlines India’s commitment to ensuring energy security and sustainability, directly aligned with the goal of net-zero emissions by 2070.
The report released by the Confederation of Indian Industry (CII) and EY, titled ‘Energy Transition for Viksit Bharat 2047’, acts as a comprehensive guide to India’s energy transition. Rajiv Memani, Chairman and CEO of EY India, stated, "To meet the rising energy needs, scaling renewable energy capacity beyond 50 GW annually is going to be pivotal."
This partnership between public and private sectors is fostering innovation within the renewable energy domain. It recognizes the importance of developing localized renewable energy supply chains and improving grid infrastructure to handle increased capacity. Somesh Kumar, Partner and Leader at EY India, reiterated, "India is on an ambitious path to not only achieve 500 GW of renewable energy by 2030, but also transform the way the energy sector operates."
Significant investments are shaping this transformation. Over the past three financial years, India has attracted $6.1 billion in Foreign Direct Investment (FDI) to the renewable energy sector, showcasing global confidence and interest. Collaborative efforts like the International Solar Alliance, which boasts signatories from 120 countries, underline India's global leadership role in advancing renewable energy technologies.
Meanwhile, experts from CII have stressed the need to address challenges related to power distribution companies (DISCOMs) and grid connectivity, as these factors are key to ensuring the stability of India’s transition to renewable energy. Future meetings planned for January will gather industry stakeholders to discuss solutions to these challenges, enhancing public-private cooperation needed to realize the nation’s energy aspirations.
Joshi’s vision for India involves not only achieving ambitious energy targets but also leveraging this transition for job creation and economic resilience. It is projected millions of jobs could be created through this transition, necessitating extensive skilling and reskilling initiatives to support workers currently reliant on fossil fuel industries.
India’s renewable energy strategy is developing against the backdrop of its long-standing coal resources, yet it maintains one of the lowest per capita emissions worldwide. This is described by Joshi as proof of the country’s commitment to sustainable development, trying to balance development and environmental responsibility. With the foundation firmly established, the global community eagerly watches India's next steps as it aims toward its ambitious energy goals, building a sustainable future for generations to come.
