India has a clean energy capacity of over 200 GW; investments to double in 2025

India achieved significant milestones in renewable energy (RE) in 2024, with its installed capacity crossing 205 GW and annual additions expected to quadruple by 2030. The government is targeting 500 GW of RE capacity by 2030, with an annual addition of 50 GW requiring investments of Rs. 2,73,568 crore (US$ 32 billion). Key developments include a record 24.72 GW capacity added in 2024, driven by solar and wind power, and large-scale adoption of rooftop solar under the PM-Surya Ghar Muft Bijli Yojana. However, challenges such as reducing the cost of green hydrogen, developing storage and transmission infrastructure, and expediting project awarding remain. The government is focusing on policies for green hydrogen production, storage, and usage alongside pilot projects in the steel and transport sectors.

Looking ahead to 2025, industry leaders stress the need for robust policies, public-private partnerships, and financing mechanisms to scale green hydrogen and RE projects. Emerging technologies like floating solar and offshore wind present opportunities, while investments in grid infrastructure and transmission networks are critical for evacuating RE from resource-rich states. Challenges such as high costs of green hydrogen production, lack of domestic manufacturing for key components, and delays in power purchase agreements (PPAs) must be addressed. Despite these hurdles, India is poised to strengthen its position as a clean energy superpower with continued innovation and strategic policy interventions.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.