Council on Energy, Environment and Water’s Centre for Energy Finance report highlights positive indicators of India’s renewable energy capacity maturing
India’s renewable energy capacity has continued to grow in FY23, with 30% of the country’s total installed power generation capacity coming from renewable sources, according to a report by the Council on Energy, Environment and Water’s Centre for Energy Finance.
Solar energy dominated the newly added renewable capacity, accounting for 84% of the total, while wind capacity additions more than doubled to 2.3 GW.
The entire proportion of renewable energy sources in India’s power generation mix is currently 11.8%, up from 10.8% in the previous year, with coal capacity expansion decreasing by 60%.
The Ministry of New and Renewable Energy has also directed renewable energy implementing agencies to conduct bids for 50 GW of renewable energy annually until FY28.