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The New Year is set to see renewable energy growth, coal fired capacity addition, solar manufacturing expansion, and the commissioning of major hydropower projects.
In the current financial year, the momentum is strong, evidenced by over 16 GW of renewable projects tendered and another 17 GW in the pipeline.
India's renewables capacity will increase to 170GW due to several reasons including the decline in solar PV cell and module prices.
A total of about 8.5GW of solar capacity was added in the first three quarters of 2023 in India, down by 25% year-on-year.
India’s solar energy sector is today becoming a subject of interest around the world. Whether it be capacity additions in solar energy itself, or the associated manufacturing sector, India appears to be hitting the right notes on both fronts