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The government plans to issue tenders for the installation of 250 GW of green energy capacity by March 2028, according to a government memo released on Monday. This move comes after the country failed to meet its target of installing 175 GW in renewable energy capacity by 2022. India aims to increase non-fossil fuel capacity - including solar and wind energy, nuclear and hydropower, and bio-power - to 500 GW by 2030. As of February 28, India's renewable energy capacity, excluding big hydro and nuclear power, exceeded 122 GW, while non-fossil capacity stood at over 175 GW.
Tender plan to boost renewable energy capacity
To achieve this target, India will issue tenders to install 15 GW of renewable energy capacity each in the first two quarters of the current fiscal year, ending March 2024, followed by bids for 10 GW in the next two quarters, according to the memo. Out of the targeted 50 GW in new green energy tenders every year, 10 GW will be for installation on wind turbines.
India aims for 50% non-fossil fuel capacity by 2030
India aims to increase the share of non-fossil capacity to 50% by 2030, up from the current 42.6%. Coal currently accounts for over half of India's 412.2 GW power generation capacity. The share of coal in power generation slightly increased to 72.8% in 2022 from 72.3% in 2019, while the share of renewable energy in India's electricity output has risen to 11.6% from 9.4% in the same period.
India to increase manufacturing of solar PV modules
Speaking at a side event of the second Energy Transitions Working Group Meeting (ETWG) under India’s G20 Presidency, the Ministry of New and Renewable Energy (MNRE) Secretary BS said India currently already has about 22.4 GW of module manufacturing. Bhalla said India will have 48 GW of annual production capacity of “Made in India” solar photovoltaic (PV) modules by April 2026 and reach 100 GW by the end of 2026. India currently has about 22.4 GW of module manufacturing.
The country has set an ambitious target of having 500 GW of renewable energy capacity by 2030, and the government plans to award 50 GW of renewable energy projects every year starting in FY 2024 to achieve this goal. According to Bhalla, circular renewable energy and critical mineral supply chains will play a critical role in India’s energy transition. The government has previously cited lower per capita emissions compared with richer nations to justify the continued use of coal.