Renewable Energy Dominates India’s Power Generation with Over 70% Contribution in FY 23-24

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During the fiscal year 2023-24, renewable energy (RE) emerged as the primary driver of power generation in India, accounting for more than 70% of the newly generated 26 GW (GigaWatt) of power. According to a report by the CEEW Centre for Energy Finance (CEEW-CEF), India’s total installed energy capacity has now reached 442 GW, with RE comprising approximately 33% (144 GW) and hydro contributing 11% (47 GW). Solar energy, encompassing grid-scale and rooftop installations, remained the dominant force in India’s RE capacity expansion, representing around 81% (15 GW) of the total RE addition in FY24. Furthermore, wind capacity addition nearly doubled, reaching 3.3 GW compared to 2.3 GW in FY23, while nuclear capacity (1.4 GW) was added for the first time since FY17.

Note: The above-mentioned news was first published by us in our ProjectX India | 1st June 2024 edition.. Do you want to buy this issue or our latest issue? If yes! click here

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