Breaking Down India’s Renewable Energy Milestones in 2024

The Ministry of New and Renewable Energy (MNRE) has released its latest data, highlighting substantial growth in India’s renewable energy sector from October 2023 to October 2024. This progress underscores India’s commitment to achieving its clean energy targets in line with Prime Minister Shri Narendra Modi’s ‘Panchamrit’ goals.

India’s total renewable energy installed capacity increased by a staggering 24.2 GW (13.5%) in a year, reaching 203.18 GW in October 2024 from 178.98 GW in October 2023. This significant rise aligns with India’s ambitious targets in the RE sector. Including nuclear energy, the total non-fossil fuel capacity rose to 211.36 GW in 2024, compared to 186.46 GW in 2023.

Solar and Wind Power Surge

* Solar Power: The solar sector witnessed a remarkable surge, with an increase of 20.1 GW (27.9%), growing from 72.02 GW in October 2023 to 92.12 GW in October 2024. The combined total solar capacity, including projects under implementation and tendered, now stands at 250.57 GW, a substantial rise from 166.49 GW last year. This significant rise in solar power capacity is a promising sign for the future of solar energy in India.

* Wind Power: Wind energy also demonstrated steady growth, with installed capacity increasing by 7.8%, from 44.29 GW in October 2023 to 47.72 GW in 2024. The total capacity in the pipeline for wind projects has now reached 72.35 GW, indicating a stable and consistent growth in wind energy in India.

Capacity Additions

From April to October 2024, India added 12.6 GW of renewable energy capacity. In October 2024 alone, 1.72 GW was installed, marking an accelerated shift towards renewable energy. This rapid pace of transition is encouraging and reflects India’s commitment to clean energy.

The renewable energy projects under implementation and tendered saw significant expansion, with 143.94 GW under implementation and 89.69 GW tendered as of October 2024. This notable increase from 99.08 GW under implementation and 55.13 GW tendered as of October 2023 ensures consistent progress toward India’s clean energy targets.

Hydro and Nuclear Contributions

As of October 2024, large hydro projects contributed 46.93 GW to India’s renewable portfolio, while nuclear power capacity contributed 8.18 GW. These contributions strengthen the diversity and resilience of India’s renewable energy mix, supporting the country’s comprehensive approach to green energy transition.

Source: PIB

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