Reddy directs Agencies to Fast-Track Pending Mining & Exploration Projects (See 'Corp Brief') Meghalaya Minister discusses STI Hubs for Tribal Communities in Northeast with MoS (See 'Corp Brief') Govt strengthening Preventive Healthcare through Yoga and Naturopathy: Jadhav (See 'Corp Brief') Gadkari reviews NH Projects in Rajasthan and HP (See 'Corp Brief') Secretary reviews Progress of Mineral Block Auctions and Operationalisation (See 'Corp Brief') FERA - Receipt by person in India of Indian currency through cheque drawn on NRE account, even if that account had been funded by foreign currency deposits, does not by itself constitute contravention of Sec 8(1): HC (See 'Legal Desk') Parcel and Logistics Services register 70% growth; Revenue Potential pegged at Rs.10,000 Crore (See 'Corp Brief') Department of Consumer Affairs holds stakeholder meeting on Different Pack Sizes for Edible Oils (See 'Corp Brief') 'Spice and Heal' Initiative can Position India as Global Wellness Leader: Jadhav (See 'Corp Brief') Competition Act - Allegations relating to use of unlicensed/private vehicles & regulatory violations is not competition law issue u/s 3 and 4 of Competition Act: CCI (See 'Legal Desk') Moratorium under the IBC (See CORP EINSICHT) NMDC launches Summer Camp for 1700 Children in Dakshin Bastar (See 'Corp Brief') Benami Act - Confiscation under Benami Act is civil consequence and distinct from prosecution: SC (See 'Legal Desk') 'Janjati Samagam' will, in coming years, gain global recognition as Kumbh of tribal communities (See 'Corp Brief') At Siliguri's 19th employment fair, 82 young people receive appointment letters (See 'Corp Brief') IBC - During subsistence of moratorium u/s 14 IBC, lessor cannot terminate subsisting lease and recover possession of leased property occupied by corporate debtor by invoking contractual breach clauses: HC (See 'Legal Desk')

Print

India's RE capacity registers 14.2% Year-on-Year growth

Published: Dec 12, 2024

By TIOLCorplaws News Service

NEW DELHI, DEC 12, 2024: MINISTRY of New and Renewable Energy (MNRE) has reported significant progress in India's renewable energy sector from November 2023 to November 2024. This progress underscores India's commitment to achieving its clean energy targets in line with the ‘Panchamrit' goals set by Prime Minister Narendra Modi.

Record Capacity Additions

As of November 2024, the total non-fossil fuel installed capacity has reached 213.70 GW, marking an impressive 14.2% increase from last year's 187.05 GW. Meanwhile, the total non-fossil fuel capacity, which includes both installed and pipeline projects, surged to 472.90 GW, a substantial 28.5% increase from the previous year's 368.15 GW.

During FY 24-25 a total of 14.94 GW of new RE capacity was added till November 2024, nearly doubling the 7.54 GW added during the same period in FY 23-24. In November 2024 alone, 2.3 GW of new capacity was added— marking a dramatic fourfold increase from the 566.06 MW added in November 2023.

Solar and Wind Power Experience Significant Growth

India's renewable energy sector has seen widespread growth across all major categories. Solar power continues to lead, with installed capacity rising from 72.31 GW in 2023 to 94.17 GW in 2024, a robust growth of 30.2%. Including pipeline projects, total solar capacity surged by 52.7%, reaching 261.15 GW in 2024, compared to 171.10 GW in 2023. Wind power also made notable contributions, with installed capacity rising from 44.56 GW in 2023 to 47.96 GW in 2024, reflecting a growth of 7.6%. Total wind capacity, including pipeline projects, increased by 17.4%, from 63.41 GW in 2023 to 74.44 GW in 2024.

Steady Contributions from Bioenergy, Hydro, and Nuclear Sectors

Bioenergy and hydroelectric projects also made steady contributions to the renewable energy mix. Bioenergy capacity rose from 10.84 GW in 2023 to 11.34 GW in 2024, reflecting a growth of 4.6%. Small hydro projects saw a slight increase, from

4.99 GW in 2023 to 5.08 GW in 2024, with total capacity, including pipeline projects, reaching 5.54 GW. Large hydroelectric projects grew incrementally, with installed capacity rising from 46.88 GW in 2023 to 46.97 GW in 2024, and total capacity, including pipeline projects, increasing to 67.02 GW from 64.85 GW in the previous year.

In nuclear energy, installed nuclear capacity grew from 7.48 GW in 2023 to 8.18 GW in 2024, while the total capacity, including pipeline projects, remained steady at  22.48GW.

These impressive figures underscore the Government of India's continued efforts to scale up renewable energy capacity and reduce dependence on fossil fuels. MNRE under Union Minister of New and Renewable Energy Pralhad Joshi has been taking various key initiatives reflecting India's dedication to fulfilling its climate commitments while strengthening energy security.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.