India Nears 300 GW in Non-Fossil Power Capacity

With more than 40 gigawatts of renewable energy initiatives currently in the advanced phases of finalizing power purchase agreements, India's capacity for power generation from non-fossil fuel sources is expected to soon reach 300 GW, as stated in an official announcement on Wednesday.

As of September 30, India's capacity based on non-fossil fuels was recorded at 256 GW, which includes 50 GW from large hydroelectric sources and 8.78 GW from nuclear energy. The statement indicated that over 40 gigawatts of renewable energy projects are in the advanced stages of finalizing power purchase agreements, power sale agreements, and securing transmission connectivity.

Also Read: Avaada Group Unveils 11 Solar Projects to Aid Maharashtra Farmers

These additional projects will elevate the nation's total capacity for electricity generation from non-fossil fuel sources to approximately 300 GW, contributing to the objective of achieving 500 gigawatts (GW) of renewable capacity by the year 2030, as mentioned. An official source previously noted that the implementation of around 40 GW of renewable energy projects that have already been awarded is currently on hold due to the lack of power purchase agreements (PSAs).

"India's renewable growth remains among the fastest in the world, driven by multi-pathway expansion. Over 40 GW of awarded renewable projects are presently in advanced stages of securing PPAs, PSAs, or transmission connectivity," the Ministry of New and Renewable Energy (MNRE) said.

In the present year, Central Renewable Energy Implementing Agencies (REIAs) have executed bids for 5.6 GW, while state agencies have conducted bidding for 3.5 MW of renewable projects.