As the year 2024 closes, India emerges as a global leader in renewable energy, marking significant achievements in sustainable development under the Union Ministry of New and Renewable Energy (MNRE). Spearheaded by Union Minister Shri Pralhad Joshi, the ministry added 27 GW of renewable energy capacity, bringing the nation’s cumulative non-fossil fuel energy capacity to 214 GW—a 14% increase from the previous year.
Addressing the year’s achievements, Shri Joshi said, “2024 has marked a defining moment in India’s renewable energy journey. Our progress isn’t merely about meeting targets; it’s about crafting a sustainable future where economic growth and environmental stewardship coexist.”
Solar energy capacity reached 94.17 GW, complemented by 47.96 GW in wind energy by November 2024. The nation now boasts a total installed and pipeline solar capacity of 261.15 GW, highlighting robust growth prospects. Wind energy projects totaling 74.44 GW, including pipeline projects, underscore India’s commitment to diversifying its renewable portfolio.
Several initiatives drove the sector forward in 2024:
- PM-Surya Ghar: Muft Bijli Yojana: Launched in February, the scheme targeted the installation of rooftop solar systems in one crore households. Within 10 months, 7 lakh installations were achieved, with monthly installations surging tenfold compared to pre-launch levels. States such as Gujarat and Maharashtra led in implementation.
- National Green Hydrogen Mission: With a budget of ₹19,744 crore, the mission aims to establish India as a global hub for green hydrogen, potentially attracting ₹8 lakh crore in investments and creating 600,000 jobs by 2030. Achievements included tenders for 4.12 lakh TPA green hydrogen production and expanded green ammonia allocation for the fertilizer sector.
The MNRE hosted a range of events, including:
- The 4th Global Renewable Energy Investment Meet & Expo (RE-INVEST) in Gandhinagar, which drew over 10,000 delegates, showcasing India’s renewable energy potential to international stakeholders.
- The 2nd International Conference on Green Hydrogen (ICGH), which attracted 6,000 participants and emphasized India’s leadership in hydrogen technology.
India’s role as a global renewable energy leader was cemented through initiatives like the first Green Ammonia export agreement with Japan and active participation in international forums such as the World Hydrogen Summit in Rotterdam.
The National Biomass Program revamped incentives for pellet manufacturing and hosted a seminar on biomass supply chain management. Biogas advancements included pilot projects and workshops that highlighted the potential of a circular bio-economy.
The inauguration of Lakshadweep’s first on-grid solar plant and India’s largest solar-battery energy storage system in Rajnandgaon underscored the nation’s leap in integrating renewable energy with advanced storage solutions.
In a major push for offshore wind energy, the government approved a ₹7,453 crore Viability Gap Funding scheme to develop projects off the coasts of Tamil Nadu and Gujarat. Additionally, the Geological Survey of India estimated geothermal energy potential at 10,600 MW, with pilot projects underway in Telangana.
- Green Energy Corridors: The ministry advanced transmission infrastructure for the 13 GW Ladakh renewable energy projects.
- IREDA Achievements: The Indian Renewable Energy Development Agency (IREDA) set new benchmarks with ₹37,354 crores in loan sanctions and a record ₹1,252 crore Profit After Tax, bolstered by international credit ratings.
- SECI’s Navratna Status: The Solar Energy Corporation of India Limited (SECI) achieved significant milestones, including a 34.89% growth in profit, underlining its critical role in the green energy transition.
Looking ahead, India’s renewable energy ambitions include achieving 500 GW of non-fossil fuel capacity by 2030. Strategic initiatives like annual renewable energy power bids of 50 GW and a comprehensive trajectory for offshore wind projects will play pivotal roles in realizing these goals.
Minister Shri Joshi concluded, “India’s achievements in 2024 are a testament to our commitment to global sustainability. We are not just meeting our targets; we are setting a new global benchmark.”
India’s renewable energy journey in 2024 stands as a beacon of hope, demonstrating how innovation, collaboration, and determination can drive a nation towards a sustainable future
