27 Aug 2024
According to a report, India's renewable energy capacity is set to reach 195 GW by June 30, 2024, with solar power contributing 44% of this total capacity. Wind and large hydropower together constitute 24% of the renewable energy mix, indicating the significant advancements made in this sector.
The report also highlights a robust pipeline of 110.6 GW comprising of combined solar, wind, wind-solar hybrid, and storage projects, which are anticipated to be commissioned within the next 4 to 5 years. Furthermore, 71.4 GW of projects are currently in the bidding stage, for which tenders have been issued, but the auction has not yet been finalized.
JMK Research estimates that India will add approximately 21 GW of new solar capacity by 2024, with utility-scale projects accounting for 16.5 GW, rooftop solar for 4 GW, and off-grid components accounting for 1 GW. It is projected that the wind sector will see an addition of around 4.5 GW this year.
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