India's RE capacity to hit 250 GW by March 2026

New Delhi: India's renewable energy capacity is projected to reach 250 GW by March 2026, supported by a robust project pipeline exceeding 80 GW, according to a report by ICRA on Tuesday.

IBNS • 20 Nov 2024, 02:10 am

India's RE capacity to hit 250 GW by March 2026

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This growth is attributed to a notable increase in tendering activity in FY2024, the rating agency stated, PTI reported, citing the ICRA report.

ICRA estimates that India’s installed renewable energy capacity, including large hydro projects, will rise from 201 GW in September 2024 to approximately 250 GW by March 2026.

Girishkumar Kadam, Senior Vice President & Co-Group Head - Corporate Ratings at ICRA, highlighted the significant contribution of rooftop solar and commercial and industrial (C&I) segments to this growth.

However, he noted that challenges such as delays in land acquisition and transmission connectivity could hinder progress if unresolved.

ICRA also projected an energy storage capacity requirement of 50 GW by 2030, which will be fulfilled through battery energy storage systems (BESS) and pumped storage hydro projects (PSP).

India aims to achieve an ambitious 500 GW renewable energy capacity by 2030.