India's renewable sector attracts investments worth $67 billion in last 2 years
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The sector is growing at a fast pace in India and will play an important role in meeting the country's future power demand, the Minister for New and Renewable Energy (MNRE) said while addressing the Bharat Renewable Energy (BRE) Summit & Expo 2026 in the national capital.
India's installed non-fossil-based capacity has grown to 310 GW from over 200 GW in September 2024 under the leadership of Prime Minister Narendra Modi, who is leading the country's renewable energy vision.
In the last two years, the country added 110 GW of non-fossil fuel-based capacity, posting more than 50 per cent growth, he said.
"The RE sector's total investment stands at USD 67 billion in the last two years. It is one of the biggest investments in a single sector," Joshi said
He urged the investors to keep investing in the country and become part of India's growth journey.
India is one of the fastest-growing economies, and various agencies have revised India's growth projections to up to 7 per cent, he noted.
The country has made progress in solar manufacturing as well, Joshi said.
India's solar capacity has grown from 2.8 GW in 2014 to 171 GW -- wind 21 GW to 60 GW, solar modules 2 GW to 225 GW, and solar cells 0 to 45 GW, wind turbine manufacturing 10 GW to 24 GW.
The country has also made improvements in providing renewable energy at lower rates to the consumers. The solar tariffs were reduced to Rs 2.15 per unit from Rs 5.50 per unit in 2014, while solar and battery are as low as Rs 2.70 per kWh today.
India has discovered the lowest price of green hydrogen at Rs 279, and Rs 49.75 a kg for green ammonia, Joshi said.
Indian companies have signed the world's largest green hydrogen offtake commitments, totalling over 5.5 lakh MTPA, positioning India as the global leader in green hydrogen supply commitments, he added.
Indian companies have signed 18 offtake agreements this year to supply over 4 lakh MTPA of green hydrogen.
Since the launch of the National Green Hydrogen Mission in 2023, about 23 offtake contracts covering about 5.5 lakh MTPA of green hydrogen have been signed, out of which over 70 per cent are earmarked for exports.
These green hydrogen projects are expected to attract total investments of around Rs 90,000 crore (approximately USD 9.5 billion), Joshi said.
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The sector is growing at a fast pace in India and will play an important role in meeting the country's future power demand, the Minister for New and Renewable Energy (MNRE) said while addressing the Bharat Renewable Energy (BRE) Summit & Expo 2026 in the national capital.
New Delhi: India's renewable sector has attracted USD 67 billion in the last two years, one of the largest investments in a sector, Union Minister Pralhad Joshi said on Monday.The sector is growing at a fast pace in India and will play an important role in meeting the country's future power demand, the Minister for New and Renewable Energy (MNRE) said while addressing the Bharat Renewable Energy (BRE) Summit & Expo 2026 in the national capital.
India's installed non-fossil-based capacity has grown to 310 GW from over 200 GW in September 2024 under the leadership of Prime Minister Narendra Modi, who is leading the country's renewable energy vision.
In the last two years, the country added 110 GW of non-fossil fuel-based capacity, posting more than 50 per cent growth, he said.
"The RE sector's total investment stands at USD 67 billion in the last two years. It is one of the biggest investments in a single sector," Joshi said
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He urged the investors to keep investing in the country and become part of India's growth journey.
India is one of the fastest-growing economies, and various agencies have revised India's growth projections to up to 7 per cent, he noted.
The country has made progress in solar manufacturing as well, Joshi said.
India's solar capacity has grown from 2.8 GW in 2014 to 171 GW -- wind 21 GW to 60 GW, solar modules 2 GW to 225 GW, and solar cells 0 to 45 GW, wind turbine manufacturing 10 GW to 24 GW.
The country has also made improvements in providing renewable energy at lower rates to the consumers. The solar tariffs were reduced to Rs 2.15 per unit from Rs 5.50 per unit in 2014, while solar and battery are as low as Rs 2.70 per kWh today.
India has discovered the lowest price of green hydrogen at Rs 279, and Rs 49.75 a kg for green ammonia, Joshi said.
Indian companies have signed the world's largest green hydrogen offtake commitments, totalling over 5.5 lakh MTPA, positioning India as the global leader in green hydrogen supply commitments, he added.
Indian companies have signed 18 offtake agreements this year to supply over 4 lakh MTPA of green hydrogen.
Since the launch of the National Green Hydrogen Mission in 2023, about 23 offtake contracts covering about 5.5 lakh MTPA of green hydrogen have been signed, out of which over 70 per cent are earmarked for exports.
These green hydrogen projects are expected to attract total investments of around Rs 90,000 crore (approximately USD 9.5 billion), Joshi said.
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Source: Economic Times — Industry ↗
Figures reflect the source report and its stated period. This article is for information and is not investment advice.
