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Re Scenario

PANCHAMRIT – Hon PM Leading the Energy World from the Front

Sustainable Energy is Hon. PM Shri Narendra Modi ji’s top priority as can be seen from the leaps this and related sectors have grown since his NDA Government took charge. He announced PANCHAMRIT at COP26 India would achieve 500 GW of installed electricity capacity from non-fossil fuel sources by 2030. This capacity addition is over and above the RE capacities that would come up under schemes like Rooftop solar and PM-KUSUM of the MNRE Ministry, which is moving full throttle to fulfill the Hon. PM’s dream. His PANCHAMRIT is a 5 Point towards climate change and sustainable growth on a global scale commits:

1. India will take its non-fossil energy capacity to 500 GW by 2030
2. India will meet 50% of its energy requirements from renewable energy by 2030
3. India will reduce the carbon intensity of its economy by less than 45%
4. India will achieve target of net-zero by 2070
5. India will reduce carbon emissions by 1 billion tonnes by 2030
Hon. Shri Narendra Modi ji’s International Solar Alliance initiated with his French counter-part, is now accepted by 116 countries worldwide and aims to mobilize US $1 trillion of investment for solar energy by 2030.

World’s Top Energy Transition & Fastest RE Capacity Addition

India added 15 GW of renewable energy in 2022-23 alone, which would be increased to 25 GW in 2023-24 and further to 40 GW in 2024-25. Over 50 GW of RE projects would go for bidding annually from this year onward. A minimum US$ 20 trillion RE investment is required for transmission networks, evacuation infrastructure, energy storage system, etc. to achieve net-zero by 2070. According to FICCI, India’s final energy demand is expected to double to about 1200 Mtoe (Millions of tonnes of oil equivalent) by 2070 in a net-zero scenario with aggressive energy efficiency measures. The RE pillars are grid decarbonisation, industrial decarbonisation & transport transition.
India is the 3rd largest energy consuming country in the world. India stands 4th in Wind Power capacity & 4th in Solar Power capacity as per REN21 Renewables 2022 Global Status Report. India has the world’s largest RE expansion plan. Up to 100% FDI is allowed under the automatic route for renewable energy generation and distribution projects subject to provisions of The Electricity Act 2003. India aims to produce five million tonnes of green hydrogen by 2030. This will be supported by 125 GW of renewable energy capacity.

India’s installed non-fossil fuel capacity has increased 396% in the last 8.5 years and stands at more than 176.49 GW (including large Hydro and nuclear), about 43% of the country’s total capacity. India saw the highest year-on-year growth in renewable energy additions of 9.83% in 2022. The installed solar energy capacity has increased by 30 times in the last 9 years and stands at 70.10 GW as of July 2023. The installed Renewable energy capacity (including large hydro) has increased by around 128% since 2014.

India’s RE Landscape

Globally, India has the fourth largest Installed Capacity of RE according to the International Renewable Energy Agency (IRENA). India has a total renewable energy capacity of 168.96 GW with about 82 GW at various stages of implementation and about 41 GW under tendering stage. This includes 64.38 GW Solar Power, 51.79 GW Hydro Power, 42.02 GW Wind Power and 10.77 GW Bio Power. The installed renewable energy capacity increased from 115.94 GW in March 2018 to 172.00 GW in March 2023, i.e., an increase of around 1.48 times. Other highlights include:

  • 42.26% is India’s share in total installed capacity globally
  • Target to reduce the carbon intensity to less than 45% by 2030
  • India has a wholly 100% solar-powered railway station in Guwhati, Assam.
  • 57 solar parks with an aggregate capacity of 39.28 GW have been approved.
  • 2 times increase in Wind capacity from 21 GW to now at 43.70 GW since 2014.
  • India has the world’s first and only 100% solar-powered airport at Cochin, Kerala.
  • RE sources, including large hydro-power, has 176.49 GW combined installed capacity.
  • Wind Energy has an off-shore target of 30 GW by 2030, with potential sites identified.
  • 30 times increase in Solar Power installed capacity from 2.6 GW to 70.10 GW since 2014.
  • India’s first and the largest floating solar power plant was constructed in Wayanad, Kerala.
  • SJVN is to be the fourth RE Implementing Agencies (REIAs) in addition to SECI, NTPC & NHPC
  • A target to set up of wind power capacity of at least 10 GW per annum is placed to be achieved.
  • 365.60 Billion Units (BU) of electricity have been generated during the year 2022-23 from renewable energy.
  • India has already achieved its target of 40% installed electric capacity from non-fossil fuels in November 2021 itself.
  • Plan to add 50 GW of renewable energy capacity annually for next 5 years to achieve the target of 500 GW by 2030.


LIFE – Lifestyle for Environment & Climate Change – Some RE Initiatives

1. Permitting Foreign Direct Investment (FDI) up to 100 percent under the automatic route;
2. Waiver of Inter State Transmission System (ISTS) charges for inter-state sale of solar and wind power for projects to be commissioned by 30th June 2025;
3. Declaration of trajectory for Renewable Purchase Obligation (RPO) up to the year 2029-30;
4. Setting up of Ultra Mega Renewable Energy Parks to provide land and transmission to Renewable Energy (RE) developers for installation of RE projects at large scale;
5. Schemes such as Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM), Solar Rooftop Phase II, 12000 MW Central Public Sector Undertaking (CPSU) Scheme Phase II, etc.;
6. Laying of new transmission lines and creating new sub-station capacity under the Green Energy Corridor Scheme for evacuation of renewable power;
7. Notification of standards for deployment of solar photovoltaic system/devices;
8. Setting up of Project Development Cell for attracting and facilitating investments;
9. Standard Bidding Guidelines for tariff based competitive bidding process for procurement of Power from Grid Connected Solar photovoltaic system and Wind Projects;
10. Notification of Promoting Renewable Energy through Green Energy Open Access Rules 2022;
11. Notification of “The electricity (Late Payment Surcharge and related matters) Rules 2002 (LPS rules)”; and
12. Issued orders that power shall be dispatched against Letter of Credit (LC) or advance payment to ensure timely payment by distribution licensees to RE generators.

India’s RE Growth Drivers

Government Commitments
It is to reduce India’s carbon emission by 1 billion tonnes by 2030, reduce the carbon intensity by less than 45% by the end of the decade, and achieve net-zero carbon emissions by 2070.

Proposed Solar Cities & Parks
A solar city per state & setting up 57 solar parks of 39.28 GW is approved. The government is also giving a push to Floating PV projects.

National Green Hydrogen Mission
The National Green Hydrogen Mission has been set up with a total initial outlay of INR 19,744 Cr, which includes INR 17,490 Cr for the SIGHT programme, INR 1,466 Cr for pilot projects, INR 400 Cr for R&D, and INR 388 Cr towards other Mission components.

Off-shore Wind Energy
The medium and long-term targets for off-shore wind power capacity additions are 5 GW by 2022 and 30 GW by 2030.

Wind-Solar Hybrid Policy
In 2018, this national policy was announced to promote an extensive grid-connected wind-solar PV hybrid system for efficiently utilizing transmission infrastructure and land. A way to address the intermittency challenge of one renewable power source is to combine solar and wind, achieving better grid stability.

AatmaNirbhar Bharat
PLI scheme in Solar PV manufacturing with financial outlays of INR 24,000 Cr introduced under AatmaNirbhar Bharat. Imposition of Basic Customs Duty of 25% on Solar Cell & 40% on Solar PV Modules has started w.e.f. 1 April 2022.

100 smart city projects
Provision of rooftop solar and 10% renewable energy is mandatory for the 100 projects.

Up-gradation & Modernization
Up-gradation of watermills and micro hydro projects is being undertaken.

Solar Pumps – 1 Lakh Nos.
100,000 solar pumps are being made available for agriculture

Green Energy Corridor
There are plans to set up 10753 ckm of inter-state and intra-state transmission lines and 27546 MVA capacity of substations at an estimated project cost of INR 12,031.33 crores.