India Plans 250 GW of Renewable Energy by 2028

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by KnowESG
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Image courtesy of https://www.downtoearth.org.in/

The Indian government aims to reduce its emissions by 45% from 2005 levels and has plans to install 250 GW of green energy capacity by March 2028, as per a recent government memo. Tenders for the same will also be issued as part of this initiative.

India failed to achieve its target of installing 175 GW in renewable energy capacity by 2022. As a result, the country is now aiming to increase its non-fossil capacity, which includes solar and wind energy, nuclear and hydropower, and bio-power, to 500 GW by 2030.

According to government data, as of February 28, India's renewable energy capacity, not including big hydro and nuclear power, was over 122 GW. The country's non-fossil energy capacity has surpassed 175 GW.

To further increase its renewable energy capacity, India plans to issue tenders for 15 GW of renewable energy capacity in each of the first two quarters of this fiscal year, which ends in March 2024. Subsequently, bids for 10 GW of renewable energy capacity will be invited in the next two quarters, as stated in the memo.

India, the world's third-largest emitter of greenhouse gases, aims to increase the proportion of non-fossil energy capacity from 42.6% to 50% by 2030. Currently, coal accounts for more than half of the country's 412.2 GW power generation capacity.

The memo suggests that out of the targeted 50 GW in new green energy tenders annually, 10 GW will be reserved for wind turbine installations. Presently, solar power accounts for more than 50% of India's renewable energy capacity, while wind power constitutes nearly one-third.

Despite coal being the primary source of electricity output, India's addition of renewable energy capacity is the second highest among major nations in the Asia-Pacific region, after China.

The share of coal in power generation has slightly increased to 72.8% in 2022 from 72.3% in 2019, whereas renewable energy's share in India's electricity output has grown from 9.4% to 11.6% in the same period.

The government has justified the continued use of coal by pointing out that India has lower per capita emissions compared to wealthier nations.

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Source: Reuters

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