India's installed renewable energy capacity to reach 250 GW by March 2026

The installed renewable vigor capableness (including ample hydro) successful India is projected to scope 250 GW by March 2026, from the level of 201 GW (as of September this year), according to a study connected Tuesday.

The capableness summation volition beryllium driven by the ample task pipeline of implicit 80 GW, pursuing the important betterment successful tendering enactment successful FY24, according to recognition ratings ICRA.

Moreover, the tendering enactment remained precocious successful the existent fiscal, successful enactment with the 50 GW yearly bidding trajectory announced by the authorities successful March 2023.

The steadfast renewable task pipeline and the favourable star PV compartment and module prices are expected to amended the RE capableness summation to implicit 26 GW successful FY2025 from 19 GW successful FY2024.

“This volition further standard up to 32 GW successful FY2026, chiefly driven by the star powerfulness segment, and fixed the impending expiry of the waiver connected inter-state transmission strategy (ISTS) charges successful June 2025,” said Girishkumar Kadam, SVP and Co-Group Head-Corporate Ratings, ICRA.

Apart from the inferior segment, ICRA expects the rooftop star conception and the commercialized and concern (C&I) segments to lend importantly to the capableness addition.

The emergence successful the RE capableness implicit the adjacent 5 years is estimated to heighten the stock of RE positive ample hydro successful the all-India energy procreation from 21 per cent successful FY2024 to implicit 35 per cent successful FY2030.

“In this context, the improvement of capable vigor retention projects remains important to integrate the increasing stock of RE with the grid, fixed their intermittent generation,” said Kadam.

Further, determination is an accrued absorption by the Central nodal agencies connected awarding RE projects offering round-the-clock (RTC) and steadfast and dispatchable proviso (FDRE), which tin mitigate the intermittency hazard associated with RE.

This tin beryllium made imaginable done the usage of hybrid RE projects complemented with vigor retention systems, said the report.