As of October 2024, India’s collective renewable energy capacity reached 203.18 GW, marking an annual increase of 24.2 GW or 13.5% from 178.98 GW in the previous year. This growth aligns with India’s ambitious targets in the renewable energy sector, including a total non-fossil fuel capacity of 211.36 GW when incorporating nuclear energy. The solar power capacity surged to 92.12 GW, an increase of 20.1 GW (or 27.9%) compared to 72.02 GW in October 2023. The total solar capacity, including projects under implementation and tendered, now stands at 250.57 GW
Wind energy also grew, with installed capacity reaching 47.72 GW, a 7.8% increase since the previous year. An 83% increase in investment, amounting to approximately US$ 16.5 billion in 2024, is expected as part of the broader strategy to transition to cleaner energy sources. Cumulative Foreign Direct Investment (FDI) in the renewable energy sector from FY 2010-11 to FY 2023-24 reached US$ 17.07 billion, with a significant boost of 50% YoY in FY 2023-245.
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