India’s renewable energy capacity hits 190.57 GW

The country aims to achieve 50% non-fossil fuel-based energy by 2030.

India’s renewable energy capacity has reached 190.57 gigawatts (GW) as of 31 March, according to the Economic Survery 2023-24. This accounts for 43.12% of the nation’s total installed generation capacity.

On 26 August 2022, India submitted updated nationally determined contributions to the United Nations Framework Convention on Climate Change as part of its commitment to combat climate change.

The country pledged to achieve approximately 50% of its cumulative electric power installed capacity from non-fossil fuel-based energy sources by 2030. 

The Ministry of New and Renewable Energy is also actively working towards reaching a target of 500 GW of installed electricity capacity from non-fossil sources by the same year.

Between 2014 and 2023, the clean energy sector in India attracted investments totalling ₹8.5 lakh crore ($102.4b). The

Looking ahead, the renewable energy sector is projected to attract an additional ₹30.5 lakh crore ($370b) between 2024 and 2030, which is expected to generate economic opportunities across the value chain. 

Additionally, from April 2000 to March 2024, the sector received approximately $17.88b in foreign direct investment (FDI).