151 GW Capacity Renewable Energy Projects Under Implementation In India: Union Minister
Date
7/27/2024 2:26:57 PM
(MENAFN- KNN India)
New Delhi, Jul 27 (KNN)
Union Minister Pralhad Joshi announced that renewable energy projects totalling approximately 151 GW capacity are currently under various stages of implementation in India.
Speaking at the 'Mercom India Renewables Summit 2024' in New Delhi, Joshi highlighted the government's commitment to prioritising renewable energy.
The Minister revealed that 76.42 GW of renewable energy capacity is expected to be operational within the next 3-4 years. This significant addition to India's renewable energy infrastructure demonstrates the country's rapid progress in the sector.
Joshi also noted that the tendering process for 76.42 GW capacity projects has already been completed, indicating that these projects are moving forward in their development stages.
The growth in India's renewable energy sector has been remarkable over the past decade. Renewable energy capacity increased from 76 GW in 2014 to over 195 GW as of June 2024, showcasing the country's commitment to clean energy.
Solar power has seen particularly impressive growth. The capacity has skyrocketed from just 3 GW in 2014 to more than 85 GW currently.
Similarly, wind power capacity has more than doubled, increasing from 21 GW to over 46 GW during the same period.
Raj Prabhu, CEO of Mercom Capital Group, commented on the positive trajectory of recent bidding initiatives. He suggested that if government agencies continue to exceed targets and mandate auctions through PPA/PSA signing, there could be a significant increase in installations in the coming years.
The article indicates that India's renewable energy sector is poised for substantial growth, potentially becoming one of the top three solar markets globally.
(KNN Bureau)
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