The share of renewable energy capacity has been increasing in India’s power sector, delivering more than two-thirds of India’s new capacity additions during the fiscal 2019/20 year.
India installed 9.39 Gigawatts (GW) of new on-grid renewable energy capacity during 2019/20 plus some 1.5GW of behind-the-meter rooftop solar in calendar year 2019.
This rate of renewable energy installation to date is positive.
However, to achieve the central government’s ambitious target of 450 GW of renewable energy by 2030 requires capacity installation of 36 GW annually. This, in turn, requires further capital flow from both Indian and international investors.
To ascertain whether India can come close to meeting its ambitious targets, we explored India’s renewable energy investment trends over 2019/20.