Karandikars & Associates

14th October 2024

1. India has reached a significant milestone in its renewable energy journey, with the country's total renewable energy capacity crossing the 200 GW (gigawatt) mark as of October 10, 2024. According to the Central Electricity Authority, the total renewable energy-based electricity generation capacity now stands at 201.45 GW, and now constitutes 46.3% of total installed capacity
2. Solar power accounts for 90.76 GW, Wind power 47.36 GW, large Hydroelectric power 46.92 GW and small hydro power 5.07 GW, Biopower, including biomass and biogas energy, accounts for 11.32 GW





3. When factoring in the 8,180 MW (megawatt) of nuclear capacity, the total non-fossil fuel-based power now accounts for almost half of the country's installed electricity generation capacity
4. India's total electricity generation capacity has reached 452.69 GW
5. Several states in India have emerged as leaders in renewable energy capacity, contributing significantly to the nation's progress. Rajasthan tops the list with 29.98 GW of installed renewable energy capacity, benefiting from its vast land and abundant sunlight. Gujarat is second, with a capacity of 29.52 GW, driven by its strong focus on solar and wind energy projects. Tamil Nadu ranks third with 23.70 GW, leveraging its favourable wind patterns to generate substantial energy. Karnataka ranks fourth with a capacity of 22.37 GW, supported by a mix of solar and wind initiatives
6. The Government of India has implemented a range of measures and initiatives aimed at promoting and accelerating renewable energy capacity across the nation, with an ambitious target of achieving 500 GW of installed electric capacity from non-fossil sources by 2030. Key programs include the National Green Hydrogen Mission, PM-KUSUM, PM Surya Ghar, and PLI schemes for solar PV modules

Key Government Initiatives

1. Notification of a trajectory for renewable energy power bids of 50 GW per annum by Renewable Energy Implementation Agencies (REIAs) from FY 2023-24 to FY 2027-28
2. Foreign Direct Investment permitted up to 100 percent under the automatic route to attract investments
3. Waiver of Inter-State Transmission System charges for solar and wind power projects commissioned by June 30, 2025; green hydrogen projects until December 2030; and offshore wind projects until December 2032
4. Announced Renewable Purchase Obligation trajectory until 2029-30, including separate RPO for Decentralized Renewable Energy
5. A Project Development Cell has been established to attract and facilitate investments in the renewable sector
6. Standard Bidding Guidelines issued for tariff-based competitive bidding for procurement of power from grid-connected solar, wind, and wind-solar projects
7. Ultra Mega Renewable Energy Parks are being set up to provide land and transmission for large-scale renewable energy projects
8. Cabinet approval for a Viability Gap Funding scheme for offshore wind energy projects, facilitating the installation and commissioning of 1 GW of offshore wind energy capacity along the coasts of Gujarat and Tamil Nadu
9. Issued Electricity (Rights of Consumers) Rules, 2020, for net-metering up to 500 kilowatts or the electrical sanctioned load, whichever is lower
10. The “National Repowering and Life Extension Policy for Wind Power Projects, 2023” has been released
11. “Strategy for Establishment of Offshore Wind Energy Projects” outlines a bidding trajectory of 37 GW by 2030
12. Offshore Wind Energy Lease Rules, 2023, notified to regulate the grant of leases for offshore wind energy development
13. Procedure for Uniform Renewable Energy Tariff (URET) has been established
14. Standard & Labelling (S&L) programs for Solar Photovoltaic modules and grid-connected solar inverters have been launched
15. transmission plan has been prepared to augment transmission infrastructure until 2030
16. The Electricity (Late Payment Surcharge and Related Matters) Rules have been notified
17. Green Energy Open Access Rules 2022 have been issued to promote renewable energy
18. Launched the Green Term Ahead Market (GTAM) to facilitate the sale of renewable energy power through exchanges
19. Orders issued to ensure that power is dispatched against Letters of Credit or advance payment for timely payments to renewable energy generators