India ranks 3rd in renewable energy country attractive index in 2021 and 3rd largest energy
consuming country in the world.
The country has set an ambitious target to achieve a capacity of 175 GW worth of renewable
energy by the end of 2022, which expands to 500 GW by 2030. This is the world\’s largest
expansion plan is in renewable energy.
Industry Scenario
Renewable energy sources have a combined installed capacity of 150+ GW.
As of 31st August 2022, Renewable energy sources, including large hydropower, have a combined
installed capacity of 163 GW.
The following is the installed capacity for Renewables:
• Wind power: 41.2 GW
• Solar Power: 59.34 GW
• Biomass/Co-generation: 10.2 GW
• Small Hydro Power: 4.88 GW
• Waste To Energy: 0.47 GW
• Large Hydro: 46.85 GW
India has set a target to reduce the carbon intensity of the nation’s economy by less than 45% by
the end of the decade, achieve 50% cumulative electric power installed by 2030, and achieve netzero carbon emissions by 2070. Low-carbon technologies could create a market worth up to $80
bn in India by 2030.
India‘s target is to produce 5 MT of green hydrogen by 2030. Green Hydrogen target is set at
India’s electrolyzer manufacturing capacity is projected to reach 8 GW per year by 2025. The
cumulative value of the green hydrogen market in India could reach $8 bn by 2030 and India will
require at least 50 gigawatt (GW) of electrolysers or more to ramp up hydrogen production.
• 59 solar parks of aggregate capacity 40 GW have been approved in India
• Solar Parks in Pavagada (2 GW), Kurnool (1 GW) and Bhadla-II (648 MW) included in top 5
operational solar parks of 7 GW capacity in the country
• The world’s largest renewable energy park of 30 GW capacity solar-wind hybrid project is
under installation in Gujarat
• India offers a great opportunity for investments in RE sector; $196.98 bn worth of projects
underway in India
• Wind Energy has an off-shore target of 30 GW by 2030 with 3 potential sites identified
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