INDIA has made big strides in the green energy sector over the last decade with renewable power constituting 43 per cent of the total installed power capacity in 2022-23, up from 31 per cent in 2014-15, data from the Central Electricity Authority showed. The total renewable energy installed capacity has reached 180 gigawatt (GW) in 2023 against 75.5 GW in 2014, as per the data. The percentage of fossil fuel-based power has reduced to 57 per cent from 69 per cent in 2014-15. The Government has now set a target to triple its renewable energy share to 500 GW by 2030, aiming to add 50 GW of renewable energy capacity every year.
On their part, Government agencies like the Solar Energy Corporation of India (SECI), SJVN and the NHPC have actively been tendering out contracts for solar, wind and hydro capacity additions in recent months. The Government is also targeting to address the lagging pace of addition of transmission lines as the installed renewable energy capacity will only be viable if it has a proper channel to be distributed.
The interregional transmission capacity added during 2017-22 (up to March 31, 2022) was 37,200 MW. As of March 2023, the inter-regional transmission capacity in the country was 112,250 MW, data from CEA’s annual report showed. India’s total transmission lines in 2022-23 stood at 471,341 circuit kilometre (ckm) against 313,437 ckm in 2014-15. For the current financial year, the Government has targeted an addition of 16,602 ckm of transmission lines compared with 14,625 ckm added in FY23.
Experts, however, believe that tripling RE capacity to 500 GW by 2030 is a stiff target because of a sharper-than-expected rise in domestic demand for power, and the realisation that renewable capacity addition could lag the tall targets. There are also concerns about the huge intermittency and variability of renewables-based generation. Efficient integration of the green capacities to the grid to meet the peak power demand is also a challenge.
In its latest National Electricity Plan, the country has envisaged increasing the share of non-fossil-based capacity to 57.4 per cent by 2026-27 and further to 68.4 per cent by the end of 2031-32 from around 42.5 per cent at present. India is seeking to foster international cooperation to achieve its energy transition goals, Oil Minister, Hardeep Puri, said ahead of the second edition of the India Energy Week (IEW) in Goa. India aims to install 50 gigawatts of clean energy by the end of the decade and to reach net-zero emissions by 2070.
Building on the success of the 2023 edition, inaugurated by Prime Minister of India Narendra Modi, India Energy Week 2024 returns from February 6-9, 2024 in Goa.
Being held under the patronage of the Ministry of Petroleum & Natural Gas and officially supported by the Federation of Indian Petroleum Industry (FIPI), India Energy Week 2024 is India’s largest and only allencompassing energy exhibition and conference. It brings together the entire energy value chain, and will serve as a catalyst for India’s energy transition goals.
The growth of IEW in its second year – it now has 30 per cent more exhibitors than in 2023, is a testament to India’s strong economic credentials and its commitment to energy innovation.
