Renewable energy share in India’s power generation to reach 35 pc by FY30 [Video]

The share of renewable energy, including hydro, in the country’s power generation is projected to rise to 35 per cent by FY30, up from 21 per cent in FY24, a report showed on Friday.

According to ratings agency ICRA, achieving the renewable purchase obligation (RPO) target of 43.3 per cent by FY30 will require more than doubling the current renewable energy capacity of 200 GW to meet future demand.

This will involve significant investments in energy storage and grid integration solutions, as well as addressing challenges related to land acquisition and transmission infrastructure, the findings showed.

The country has made significant progress in renewable energy capacity addition with a strong policy focus, but factors such as energy storage, grid integration, and fully integrated renewable energy equipment manufacturing pose challenges, given the increasing share of renewables in the energy mix.

According to Girishkumar Kadam, senior vice president and group head-corporate ratings …