India's Renewable Energy Surge: 151 GW Projects Underway

Union Minister Pralhad Joshi announced that India has around 151 GW of renewable energy projects in various stages of development, with 76.42 GW set to be operationalized in the next 3-4 years. This marks a significant increase from the 76 GW capacity in 2014 to over 195 GW by June 2024.

Union Minister Pralhad Joshi has revealed that renewable energy projects totaling approximately 151 GW are in various stages of implementation across the country. This announcement was made during the 'Mercom India Renewables Summit 2024' in the national capital on Friday.

The Minister for New and Renewable Energy further disclosed that around 76.42 GW of renewable energy capacity is expected to be operationalized within the next 3-4 years, with the tendering process for these projects already completed.

Joshi highlighted the significant growth in renewable energy capacity from 76 GW in 2014 to more than 195 GW by June 2024. Solar power capacity saw a dramatic increase from 3 GW to over 85 GW, while wind power capacity grew from 21 GW to more than 46 GW during the same period.

Raj Prabhu, CEO of Mercom Capital Group, praised the government's recent bidding trajectory and asserted that continued target exceedance by government agencies could lead to a notable rise in installations. Prabhu also emphasized that the Indian market is set to become one of the top three solar markets globally as it enters a new phase of growth.

(With inputs from agencies.)