As India steps into 2025, the nation emerges as a global leader in sustainable development, driven by the Ministry of New & Renewable Energy’s (MNRE) extraordinary accomplishments. Union Minister Pralhad Joshi, reflecting on the past year, said, “2024 marked a transformative moment in India’s renewable energy journey. Our achievement of 214 GW from non-fossil sources showcases our unwavering commitment to achieving the ambitious 500 GW target by 2030.”
India added 27 GW of renewable energy capacity during 2024, bringing the total non-fossil fuel capacity to 214 GW by November. This represents a 14% increase from 187.05 GW in the same period last year. Solar energy capacity reached 94.17 GW, while wind power stood at 47.96 GW. Between April and November, nearly 15 GW was added, doubling the 7.57 GW added during the same period in 2023.
Launched on February 13, 2024, with a budget of ₹75,021 crore, this scheme targets one crore rooftop solar installations, offering up to 300 units of free electricity monthly and subsidies between ₹30,000 and ₹78,000 per household. By December, 7 lakh installations had been achieved, averaging 70,000 per month, a tenfold increase compared to earlier averages.
Gujarat, Maharashtra, Kerala, and Uttar Pradesh have excelled in implementation. Guidelines for ‘Incentives to DISCOMs’ with a ₹4,950 crore outlay and operational guidelines for the ‘Model Solar Village’ scheme (₹800 crore) further support the initiative.
With an approved outlay of ₹19,744 crore, this mission aims to establish India as a global hub for green hydrogen. Key achievements include tenders awarded for 4.12 lakh TPA green hydrogen production, selection of manufacturers for 1,500 MW electrolyser capacity, and increased green ammonia allocation for fertilisers. The mission could attract over ₹8 lakh crore investments by 2030, creating 6 lakh jobs, reducing fossil fuel imports by ₹1 lakh crore, and cutting carbon emissions by 5 MMT annually.
The second International Conference on Green Hydrogen in September attracted 6,000 participants, emphasising India’s leadership in green hydrogen technology.
MNRE hosted pivotal events, including:
Other notable events include the Banker’s Conclave in Mumbai, World Hydrogen Summit in Rotterdam, and a National Workshop on Carbon Markets in July.
India’s cumulative solar energy capacity reached 94.17 GW by November, with combined installed and pipeline projects totalling 261.15 GW. Key projects include:
Wind energy achieved 47.96 GW installed capacity, with a total pipeline of 74.44 GW. Offshore wind energy also advanced with SECI’s invitation for 4 GW development off Tamil Nadu’s coast and a ₹7,453 crore Viability Gap Funding scheme approved for initial projects.
The Geological Survey of India (GSI) estimated 10,600 MW geothermal potential and a 20 kW pilot geothermal power plant was commissioned in Manuguru, Telangana.
The National Biomass Program revised its CFA for pellet plants, with non-torrefied plants eligible for ₹21 lakh/MTPH and torrefied plants for ₹42 lakh/MTPH. India’s transition to a circular bio-economy was highlighted during a National Seminar on Biomass Supply Chain Management.
Under the PM-KUSUM scheme, 2.95 lakh off-grid solar water pumps and 35 lakh grid-connected pumps were solarised. As of June 30, 2024, 4,11,222 farmers benefited, with 51,097 farmers from Uttar Pradesh alone. Tamil Nadu solarised multiple government buildings, generating 4.62 BU renewable energy by May 2024.
A bidding trajectory of 50 GW annually has been notified for renewable energy projects until 2028. The government announced an RPO trajectory up to 2029-30 and progressed with the Green Energy Corridor Phase II, ensuring transmission for 13 GW projects in Ladakh.
Indian Renewable Energy Development Agency (IREDA) achieved its highest-ever performance, sanctioning loans worth ₹37,354 crore, disbursing ₹25,089 crore, and recording a PAT of ₹1,252 crore. It also secured a BBB- international credit rating from S&P Global.
The Solar Energy Corporation of India Limited (SECI) attained Navratna status, with a cumulative awarded capacity of 69.25 GW. Its annual turnover grew to ₹13,118.68 crore, with a PAT of ₹510.92 crore.
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