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Project: MNRE sees RE challenges in 2025

Fiinews by Fiinews
January 24, 2025
in Projects
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217.62 GW of non-fossil energy capacity installed

As India moves into 2025, addressing regulatory, financial and infrastructural challenges will be crucial, says the Ministry of New and Renewable Energy (MNRE) on 22 Jan.

With continued policy support, increased investment, and a focus on emerging technologies, the country is well-positioned to achieve its ambitious renewable energy targets and solidify its status as a global leader in the clean energy transition, MNRE highlighted https://www.investindia.gov.in/.

Further, MNRE underlined, “India’s renewable energy sector is on a transformative journey, with 2024 marking a year of record capacity additions and policy advancements https://www.hai.org.in/.”

Driven by government incentives, policy reforms, and increased investments in domestic solar and wind turbine manufacturing, India’s total non-fossil energy capacity has reached 217.62 GW as of 20 Jan 2025, according to MNRE update on the sector http://isolaralliance.org.

A record-breaking 24.5 GW of solar capacity and 3.4 GW of wind capacity added in 2024, reflecting a more than two-fold increase in solar installations and a 21% rise in wind installations compared to 2023.

Solar energy remained the dominant contributor to India’s renewable energy growth, accounting for 47% of the total installed renewable energy capacity https://ted.europa.eu/en/.

Last year saw the installation of 18.5 GW of utility-scale solar capacity, a nearly 2.8x increase compared to 2023. Rajasthan, Gujarat, and Tamil Nadu emerged as the top-performing states, contributing 71% of India’s total utility-scale solar installations.

The rooftop solar sector also experienced significant growth in 2024, with 4.59 GW of new capacity installed, marking a 53% increase from the year 2023 http://wwindea.org.

The ‘PM Surya Ghar: Muft Bijli Yojana’, launched in 2024, played a crucial role in this expansion, facilitating 7 lakh rooftop solar installations within 10 months.

Additionally, the off-grid solar segment recorded a 182% increase, adding 1.48 GW in 2024, furthering India’s energy access goals in rural areas https://www.iea.org/.

India added 3.4 GW of new wind capacity in 2024, with Gujarat (1,250 MW), Karnataka (1,135 MW), and Tamil Nadu (980 MW) leading the way. These states accounted for 98% of the new wind capacity additions, highlighting their continued dominance in wind power generation.

MNRE played a pivotal role in fostering RE growth through policy interventions and financial support.

Key highlights include:

Green Hydrogen Push: The government actively pursued the development of green hydrogen policies to reduce costs and attract investments in this emerging sector https://www.wagreenhydrogen.com/.

Manufacturing Expansion: Domestic solar PV and wind turbine manufacturing were scaled up, supporting India’s ambition to become a global RE manufacturing hub.

Grid Infrastructure Development: The MNRE proposed significant investments in inter-state transmission systems to evacuate power from renewable-rich states like Rajasthan, Gujarat, and Madhya Pradesh. Fiinews.com

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